A Playbook for Creating Effective Lead Magnets

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Creating lead magnets is often considered a marketing team’s forte.

Reason?

You only consider ebooks or whitepapers as lead magnets, requiring a robust marketing team to focus on them.

But what if you could create great lead magnets with minimal writing skills?

Yes! Webinars, courses, video tutorials, free tools and templates are some of the lead magnets that are helpful to the audience and profitable to the makers.

At Mailmodo, we have created such tools for quite some time now; our recent lead magnet is OpenHigher AI, which helps email marketers create subject lines in seconds without writing lengthy prompts.

It got 250+ upvotes on Product Hunt and a lot of great reviews.

The catch?

There was only one writer was involved in the creation process.

We have developed a process over the past 2 years and wanted to share it with the rest of you.

Step 1: Determine what could help your ICP

Hubspot started its blog before the business - they became known for helping their ICP solve a pain point.

Similarly, HubSpot Academy has made it as a household name. (Well, at least in a Content Marketer’s household.)

At Mailmodo, we follow their footstep.

In 2023, we wanted to reach email marketers who have started adopting AI in their ops and have built OpenHigher AI and Prompt Hunt. (A lot more to more to follow; stay tuned.)

While building OpenHigher AI, we knew many AI subject line generator tools were available. However, upon research, we realised they either give a generic response or require well-drafted prompts.

Marketers need an AI subject line generator that gives engaging results with minimal prompts within the shortest possible time.

We picked these pain points and created OpenHigher with built-in prompts so you don’t have to use your brain to get good subject lines. You can simply pick your campaign details and hit the "generate" button.

Initially, we'd brianstorm and talk to come up with such ideas, but soon, we ended up building a framework that helped us drill down the best possible ideas.

Below is the first step that could help you determine your next lead magnet project similarly

  • Talk to your customer-facing teams. What are the problems that customers look to solve? How can you help them?

  • Find out what resources competitors are building and how you can fill their gaps. Product Hunt is a great place to keep up with what others are doing and get ideas.

  • Observe the process that your ICP follows to complete a task. Can you help them optimise it with low effort?

Step 2: Find out the right format for your lead magnet

If you’ve done your analysis based on the last 3 questions, you should ideally have 3 lists -

  1. Customer pain points

  2. Competitors Resources

  3. Task list/workflow of ICPs

You can now follow this table to shortlist a few lead magnet ideas -

Step 3: Finalize the lead magnet

After you’ve shortlisted a few ideas, you must decide on the topic and format of your lead magnets. These parameters will help you make a better judgement.

  • Choose a topic your team is an expert at. For example -> We stick to email-related topics.

  • Choose a format that can be built easily with your resources. For example -> don’t pick a video tutorial if your team doesn’t have a camera-friendly persona and you don’t have the budget to hire someone.

  • Ensure that you can launch it in 30-45 days. One tends to get ambitious with ideas and underestimates the scope of work. In the long run, the effort-to-result ratio doesn't fit right. So, plan carefully and realistically.

You can use this table to make this process easier -

After you’ve your next big idea, get working.

Your team needs a designer, a developer, and, well, a marketer who can write decently. (or use ChatGPT efficiently).

We used the following tools:

  1. Whimsical -> for ideating UI/UX and landing pages

  2. Figma -> For designing what we ideated

  3. Linear - For managing the project and keeping up with all the tasks

  4. Slack -> For communicating and ranting

Believe me, these tools, a dedicated team, and a great idea to help your ICP out will have your next lead magnet ready with low effort.

Lastly, don’t forget to check our OpenHigher AI - our latest lead magnet, which we built in exactly 1 month with only these 4 tools and 4 team members.