Creating effective lead magnets and content upgrades requires following several steps. Firstly, you need to identify your audience's pain points, goals, and motivations. You can use surveys, interviews, analytics, social media, forums, and other sources to gather insights about your audience. Secondly, you should choose a format and a topic that suits your audience and your content. Tools like BuzzSumo, Google Trends, Quora, and others can be used to find popular and trending topics in your niche. Thirdly, you must create a high-quality and engaging piece of content that delivers on your promise. The content should be well-written, well-designed, and well-presented; it should provide value for your audience by solving a problem or teaching a skill. Additionally, the content needs to be easy to consume, digest, and apply. Lastly, you should optimize your landing page and opt-in form for conversions by writing a catchy headline, a persuasive copy, and a strong call to action. Also use images, testimonials, social proof, and other elements to boost your credibility and trustworthiness.