Lead Generation and Lead Magnets

rock and roll so if you now understand what a lead is now it's like okay well how do I get engaged leads how do I get people to show interest in the stuff I sell well that's what we're going to cover right now so there's nine steps I told you to get really tactical beginning was just to give you a little bit of wet the appetite get you excited the rest of this is going to be like the you do to get people to want to buy your stuff all right so nine steps how I figure this out why lead magnets are important there's a little spoiler for you what and who how to deliver how to solve it name it make it easy make it good create the next steps all right let's rock and roll so here's how I figure this out so I was trying to get leads for a webinar because I was told by a mentor they're like hey you need to make a webinar uh to get gym owners I was like okay cool I'll do that and so I spent all this time trying to make this webinar and spent money advertising it after like eight weeks of trying to make this work and this other guy in the group started he was he helped gym owners do stuff and he started making money on his webinar I was like he's gonna take all the clients like I'm not going to have there's gonna be no business left for me um and so I was actually like really upset about it and uh anyways I kept trying it just wasn't working so finally I got the ads live I figured out how to like run an ad nationally and try to Target an audience and all this stuff figure out a thank you page and a cart and integrate with the payment processor like there's all these micro skills I had no idea how to do this and so anyways I run some ads I spend 500 bucks I think somewhere in there and uh guess what didn't make any money uh but what I did get is I got a bunch of emails of people who opted in and never actually watched this thing I spent eight weeks trying to build right and so then I was like well I reached out to all those guys and was like hey you want to hop on a call and I ended up closing those people after after doing that I was like man I feel like I can make this way easier and so I was scrolling my news feed and I saw a different marketer was like hey here's a case study that I did on how uh I made whatever a hundred thousand dollars with a retargeting campaign and how you can use retargeting your business um I can't remember what it was but it was it was it was some case study in the book I had I remember the details and it's better spelled out point is I clicked into this thing and I saw this 13 minute video of him just screen sharing he's like here's how I ran the retargeting campaign he's like here's the ads here's the targeting this is where I let them here's the amount of leads I got and here's the money I made and I was like oh my God this is so much easier than a webinar I was like I can do this and so then I re re-went up because I made a little bit of money from the email opt-ins that I'd sold to try it again and uh I just did a screen recording I was like hey here's how we filled this gym in uh San Diego we had 212 people who signed up in a month I was like here's the ads here's the landing page here's the scheduler this is the script we use here's how many we sold and here's a picture of the gym owner like this and if you want us to do that for you let us know and then the lead started pouring in and so the big lesson that I had there is that my specific avatar for whatever reason or at least based on my skill set I was able to get them to watch a case study around this specific thing rather than some really long webinar and to be clear it's not that webinars didn't work because the other guy obviously made him work I didn't have the skill set yet and so this getting the right lead magnet for the right Avatar the right person you're trying to sell to was a huge lever and I want I want to like pause here and emphasize this if you're not getting enough leads It's usually the lead magnet isn't good enough or attractive enough to your ideal audience they're not engaging with it right we want to take leads and get them to engage so think about this as like the picket line and you have this really nice carrot on the other side of it and the bigger and the juicier the carrot the more people want to jump across to your side and give their information and say I'm interested all right so this is how I figured out how important it was to get the right lead magnet all right so why lead Max the general so the offer is the products or Services you exchange for money and the terms associated with The Exchange that's what an offer is that's what your core thing is the thing you sell right the thing that you make the most money from is your core offer now you have lots of offers in your business all over the place if you think about it this content is an offer of some sort right you whatever I did to drive you to here wasn't offer I was like hey I've got this thing like if you read it from the book you say hey there's a course and it's free and I don't have to opt in for it that was an offer right is it the core offer for me no my core offers that I buy into companies like that's my core offer that's where I make the most money right but it isn't an offer all right and so a league magnet and this is what I'll be really clear about and people mess this up a lead magnet is a complete solution to a narrow problem given away at a significant discount or free to attract ideal customers that's what a lead magnet is and so this course the books the content in some ways are all lead magnets because guess what's going to happen we solved the first problem the first book which is what do I sell that was a complete solution to a narrowly defined problem if you only know what to sell that does not necessarily mean you're going to make more money now if you have other skills then it'll enhance the amount of money you make but naturally for me with leads being the second thing it's like okay well once you have leads what's the next problem you're going to actually come into you don't know how to close and I'll make more stuff around that later but like I'm trying to solve these one by one and I wish I had a limited time I'm doing I'm I'm documenting them as I spit them out for you guys all right but once you solve the narrow problem and it should reveal the next problem solved only by your core offer and so fundamentally for me I have other free sales stuff that's on the Internet it's there I'll formalize it in books and trainings in the future but the point is is that hopefully with enough of my stuff someone solves their true core problem for me which is that they get to a million or two million or 5 million a year in profit and they say I don't know how to get past this or I've never done this and I want someone to help me go from 5 to 20 or 20 to 100 whatever it is and that's where we come in that's the core offer that we have is that someone I solve all the problems of somebody who's at you know a million five million a year in profit 10 million year in profit and they want to come to us let's go to the next level that's how this works hopefully this is kind of like meta defining of like both what I'm doing and what you can see at the same time for your business work all right and so we started with the Grand Slam offer but if you can't get enough leads you need a lead magnet all right and so think about it this way the reason I like lead magnets is that you can just pitch your core thing I could get up here and just say like if I had no content just think about it this way imagine I had no content I had no books I had no anything I could just say hey if you're looking to scale your company hit me up and I might get a percentage of people who'd be willing to take me up on that maybe I mean if I did enough volume I would be able to get people to do that and so think about that as the left side so these are made up numbers just to illustrate the concept so let's consider my core offer is that little gift thing all right that's my core offer so if I show this to a low trust list of people so they don't know much about me I haven't provided any value I just say hey I do this thing somebody who's in enough pain might actually just jump at that it's possible I mean many businesses are built on that and so out of 25 people I might get one sale or maybe a hundred people I might get one sale depends on what I'm selling right but just for illustration purposes I probably did 25 just because I couldn't fit 100 little guys on the screen but don't worry about the percentages it's more the concept now let's introduce the same idea but with the lead magnet all right so I show those 25 people and I say hey I've got this free thing it's going to help you solve your problem all right it's narrowly defined problem and it's all valuable and it's free it's yours so what happens is a percentage of those people say you know what that that is helpful for me I do I do kind of suffer from that problem and this is this is a low low risk investment for me all I'm really investing is time and that is an investment it's just for many people a lower investment than money less trust is required to give time the money for most people so then a percentage of those people then consume the thing and say man this guy's pretty good at this thing he helped me solve this narrow problem but I have this other problem and guess what now I say hey I know I I fulfilled my first promise to you is that I was going to help you solve this problem I can help you solve a much bigger problem in this way and now we make our core offer and now we make it to a high trust group of people and we have a significantly higher take rate on it and so we use the lead magnet not because we're great people but because we want to make more money and we do that by building more trust and providing value in advance and so that is kind of the before and after now again if you're brand new to this sometimes you can't just go make a core offer I'm not saying it doesn't work I'm saying this is how I do it a simple visual for you is if you had a bar or a restaurant and you gave out salty nuts for free just want to say salty nuts uh some people a certain percentage people be like man I'm kind of thirsty and then you have ice cold water sitting there and you sell the ice cold Waters so even if you give away salty nuts for free you can make it up and some in the profit you make from the core offer or the upsell in the situation all right and so an interesting factoid about this is like the reason Costco has done food samples for such a long time they stopped during cover because of germs whatever but like they did it for a very long time and I think they're bringing it back is that it drove sales so they knew that giving away free food and paying people to sit there giving away toothpicks of stuff sold more product and so they're not idiots they're not just like oh well if we give away all this free stuff people are going to eat all this food they're not going to want to buy they're not going to buy anything it doesn't work that way that's not how reciprocity works it's not how like what happens when you try the like let's say you try all the things at Costco sampling which many people do all right well you tried 20 things but one of them you really liked you're like man this bean dip seven layer bean Dip's not that bad what do you do you buy one and what do you what would you have not done if you hadn't done it you wouldn't have bought it all together if they had offered none of those so the cost of all those samples is the cost of delivering the lead magnet but they make it up and some and you buying the thing right and so lead magnets get Prospect to take one step closer to buying your stuff and this is like what if I can imprint this on you a person who pays with their time now is more likely to pay with their money later and so we want is to get them to pay with their time early so that we can increase the likelihood they give us money later that's the whole game and when they pay with their time we want to make sure we give them a high return on their time by making sure the thing that we gave them was incredibly valuable because if we give them that bean dip and the bean dip was they're not going to buy more bean dip and they might also tell a bunch of people that are being dip socks right so we want to have good bean dip the seven layer kind the exceptional kind all right so that's why I use lead magnets in general so let's go into the wood in the hill all right so with 100 leads example my book in this video series are lead magnets you are a lead I want to solve your engaged leads problem I want to solve it for people making less than a million dollars a year in annual profit with enough ideas you make more than a million dollars a year and discover new scaling problems that I can help you solve by investing in your business right that is the problem solution cycle and so it looks like this visually all problems when solved create a new problem all right so for example if I uh solve the leads problem the next problem you'll have is sales once you have the sales problem then you'll have the delivery problem the churn problem once you have the churn problem you might have the you know scaling operations problem once you have the scaling operations problem you might be like I'm stuck I don't know what to do we have to go back to the beginning and increase traffic like every every problem that gets solved creates a new problem and that's the never ending cycle of business and really life right as soon as you can't find a girlfriend and then you find a girlfriend then you got girlfriend problems right then you're like man I'm not married then you still have your girlfriend problem with a wife problem and then you got wife problems right but like each time you solve a problem you still just open up a new door but the thing is ideally we just want to trade bad problems for better problems but problems don't go away and so let's imagine that we're we're selling homeowners all right so we're trying to help them sell their homes and that's a very broad Solution that's a big thing right so what we want to do is break that into micro steps and micro problems that we have to solve towards that one big one right so what are all the steps before you sell home right well the owners are going to want to know what their house is worth they're going to know how to increase its value they're going to need pictures cleaning Landscaping staging Etc right and these are all very narrow problems which are great for lead magnets and so we pick one of those narrow problems and we solve it for free and although it helps it makes their other problem more obvious they still have to sell their house but we show them where their house is worth we show them how to increase their value maybe we did one of these things increase their value and we made that promise we delivered on that promise and now they're like well I trust you I don't trust these guys because you help me out with this other thing when I needed you we have our foot in the door and now we found we turn a lead into a customer right and so the action step for right now is that you pick The Who and the what so who are you going to solve the very valuable narrow problem for that's what we're picking right now so pick that right now now let's get into how to solve it so there's three types of lead magnets I looked at all of our all of our businesses all of our portfolio companies my past companies the different offers we did so I did like a big meta review I was like okay what are all the different types of lead Max and they basically thought of these three buckets so type number one is a type of lead man that reveals a problem all right so any kind of assessment so if I did a uh if I had if I had SEO services or you know site optimization Services my revealing the problem would be like I'll give you a free audit of the site and I'll show you what your page load time is and what it could potentially be right that's a revealing a problem I'm not solving anything but I'm making them aware of a problem they didn't know existed that's type one type 2s that give a free trial of a thing so if you try this thing and if you want more of the same thing that you tried you have to pay very simple the third version is where you give away one step of a multi-step process for free and the rest are charged for all right so we'll give you examples of each of these with revealing the problem think diagnosis all right so this works great for problems that get worse while you wait so speed test on a website is what I said uh posture analysis like someone's posture gets worse over time if they don't know that they have a posture issue right if you can do termite inspections the longer you wait with the termite inspection the more expensive the problem gets to fix and so ideally if you have problems that you do with your business that become more expensive is uh as they take time you already have implied urgency the moment that you reveal the problem and so it makes them likely to want to take the next step now they're aware of the snake that's under their under their table right so that is type one so if you're thinking about this okay I have my who and what well how do I want to solve it so one is you can reveal the problem the second is think of this as like a taste so when you're doing a free trial it's a taste just like Costco right you can limit the number of uses right like they limit the quantity they're not going to give you the whole dip thing they give you a little little toothpick full you can limit the number of uses the quantity of the use the time they have access to it or both right so if you have like a software for example then they might be able to use it and they can limit the number of uses if it's a per if it's a use case thing or how much of they get you have to just limit some component of it all right and so using the same three business examples as earlier and this is a big point I want to make is any of these three work with any business so I had the Speed thing earlier and I gave you an example of what the diagnosis would look like which is I will audit their site and show them how fast it is if I want to give a free trial version I would hook them up to my faster server and decrease their website load times make it faster show them how many more leads they're getting because it's faster and now what do they want well I want to keep that well great now you have to pay right with the adjustment the posture analysis well the trial version of this I just give them the adjustment I immediately fix their posture and I can show them that now what are they going to do it's like well I did one and I fixed you temporarily but we have to do this over and over again until eventually it fixes for good right that's the idea in food or Cosmetics any kind of consumables that's for fun sized packaging comes into play right and so those are the free trial versions now the reason I'm underlining this is that all three of those are the same business I showed you earlier it's just a different way to solve the problem and this is the point of this is to get your ideas your juices moving so you think how can I use this in my business not this won't work in my business just think how will this work and how can I make this work for me so the third version of this is the multi-step process you give one piece away of a multi-step so think one of many steps right unsurprisingly so this book for example is a helps you get to a million dollars in profit now there's other steps that are required after that and that's what we invest in companies for right uh free garage door would sealant let's say there's one of three coats right now in the website example I might say that there's 10 things we can do to improve your website speed I will do the first one there's nine other things that we can do would you like to know how the rest of these can improve your site right with the posture analysis we might say okay well there's back cracking there's also Electro shocking there's also massage there's also stretching right we actually like to have a a combined attack a multi-disciplinary approach to our treatment of patients whatever you get the idea uh and so I say I'm going to give away the cracking but not the massaging the electro shocking and the and the massage right and so I have these other things and so they're like well I want those too because that thing worked right and that's the idea we gave away one piece of a multi-step process right and this is also where like free course calculator templates Etc that are the first step so you see like Wealth Advisors giving away templates for how much wealth can grow it's like well great that's kind of a combination of one step of a multi-step and diagnosis and I and I put that last one in there for for this reason is that like the buckets matter less than you thinking creatively about how to create your lead Map to solve the problem there are no rules these are just the three buckets that I have seen most neatly fit all of the solutions that we've given away across all portfolio companies that have gotten more people to want to buy our stuff and so those are the three lead magnet tights and the idea here is that you want to be a legal drug dealer all right and so think about what a drug dealer does like the first hit's always on the house right the first Hits free and so you want to give away the first hit and the reason drug drug dealing is such a great business because the product's exceptional people immediately get a result right and it's guaranteed virtually as long as that's not bad right and what do they want it also creates addictive behavior and so they want to come back like ideally that's what the perfect product does right now I'm not saying you sell drugs but I'm saying you should behave and learn lessons from them so that we can make money like one and so the action step is pick how you want to solve the narrow problem so you want to reveal it you want to sample it or you give one step of many those are the three now we have to pick how do we want to deliver it so we picked how we're going to solve it there's lots of ways to deliver that solution even like if even a diagnosis a million ways you can actually deliver the diagnosis right so there's four delivery mechanisms again this is just from what we've seen across our portfolio companies and that I've used successfully one is that you can use software second is use information like this third is that you can do services and fourth is you can use physical products all right and so each of these work with the three how to solves from the last point so if you think about this like a matrix and so you got three of those times four of those you got 12 different possible I think three times four I think that's what it is 12 different combinations that you can put together all right so software fundamentally you give them a tool that's what this is all right so if you have a spreadsheet a calculator a small software your technology does a job for them all right so an example is you give a spreadsheet a dashboard for gym owners that gives them all the relevant stats and Compares them to Industry averages now why would that be a useful tool for us to give away because we say hey here's you here's our average gyms the Delta is the value that we can unlock would you like to learn more right we can give it away for free that's a saw for example that's how I can deliver that diagnosis there's lots of ways to do it but I've had it with software that's how I do it with information you teach them something all right so courses lessons interviews with expert keynote presentations Live Events mistakes and pitfalls hacks tips Etc anything they can learn from is information all right so example for us I'm using the gyms for this to give you a nuanced example is that I give a mini course away to gyms on how to write ads it's a free thing a Give It Away how to write ads now what happens when you know how to write ads you got to know how to play sets and after that where do I send them you got to send them a landing page if you don't want to build land right we can still absolutely totally over deliver in value and completely fulfill our promises and be like this is the best thing I've ever seen on how to write ads for gyms but I didn't promise I was going to build you know 10x their gym I just thought I can help you this but you still gain the trust and they take the next step and to be clear it's not that everybody's gonna take the next step it's just a percentage of people will and in my opinion more than would otherwise have taken a step if you only went straight for the offer the third thing this is actually one of my favorite things to give away and I don't talk about as much because it's like almost like secret and dirty because how good it is but you do work for free if you have this little pain in your stomach like give a workway for free undervalue myself right I'm a special snowflake I think you get so much good will giving away something that people know cost you something and that is something that is unscalable and provides so much good will that you get so much persuasive power as a result of giving that give that you get a disproportionate amount of people to want to work with you also when you do service you actually have a lot of interface with people and so your ability to sell them or soft sell them during that experience goes way up all right and so you do work for free you adjust their back you perform a website audit you apply the first layer of garage sealant you transform their video into an ebook whatever the service is you do it for free and so the example I'll give you is Iran gym owners ads for free for 30 days I'll run the ads for free I'll get you leads for free to show you I know what I'm doing now what happens after you get leads for free you make some money what happens when you make some money you want to keep making money ah in exchange for making continuing to make money I would like to make some of it as well simple offer all right number four physical products you give them something that they can hold in their hands all right so posture assessment chart if I was doing the diagnosis thing a supplement a bottle of garage door sealant rather than doing it I give them the sealant boxing gloves to get boxing leads into the gym so I sell a physical book called Jamal Secrets something they can hold in their hands if I sold t-shirts that said gym owner on it that would also be something that a gym owner might say hey I'm interested in it but here's my caveat the closer you want the lead magnet to be close to the thing that you sell as close as possible all right so let me give you an example so if I sold I.T services and I gave away free t-shirts that branded their company's name on it people would want that but people would want that would not necessarily want I.T Services it doesn't naturally lead to the next my core offer right and so if I gave away the logo for the t-shirts that might be a great lead magnet for an apparel white labeler because they might well more apparel so then that leads naturally so it's not the lead man is good or bad is which one is right for your core offer your business what might be an amazing lead magnet for one business might be a terribly magnet for another business and that's why I started with the problem solution cycle earlier is that you want to make sure that the thing you're giving away leads naturally to the problem that you can solve next all right so those are the four delivery mechanisms you give away software you give away information you give away Services you give away physical products all right each of these work with the three how to solve some of the point before so here's the action step you pick how you want to deliver the solution that's the goal you pick one of those four now now we've got everything we have we know The Who and the what that we're going to do we know how we're going to solve you know how we're going to deliver it well guess what we still got to name it and as silly as the sounds I'll tell you an interesting function that just happened this week so uh one of our our editors we're looking at a short video that they're like man I really thought this was a good video and it totally tanked it got like 4 000 views which for us was a tank and so they looked at it they made some notes and all they did was they chopped the first five seconds of the video and redid basically just redid the first five seconds of the video and that one change took it from 4 000 views to 850 000 views would that one change and so that's a 200x increase in viewership from one change which is how people framed the value that they were about to consume like the core value of the video is the same but how people perceived the first five seconds was the thing that changed the frame that they consumed the information in and so we may have this value but how we frame or position our lead magnet matters a lot arguably from a lead generating perspective more than everything else now from a perspective of leave conversion of getting those leads to want to buy the thing that you have to sell how good it is is going to matter more but how you name it will determine how well it performs as an actual lead magnet for getting you leads all right I just want to make sure that I'm clear on this so let me show you what this actually looked in the real world because I test everything so for the 100 million leads book I tested the names which book title would you more likely want to grab so 100 advertising 100 million promotion well advertising won the first test I was like okay well which book title most interest you so I said advertising and leads leads won that test I was like huh okay so it's got like a winner sprocket so then I took leads and did it against marketing and leads one again and I could give you a million reasons of why I think that is it honestly doesn't really matter all I know is that it outperformed and so this is a quote that I love from David Ogle he said after you've written your headline you spent 80 cents of your advertising dollar so think about that if the first five seconds is what 85 percent of people or making that split decision when they see the headline of your ad or the name of your lead magnet immediately sorts 80 90 of the traffic that you have then isn't it crazy that we don't spend more time testing that one piece the pros who are watching this right now are nodding their heads because they get it this is important especially when it comes to getting them to engage getting them to convert is how good it is get them to engage is how you name it so these this wasn't even the final version because you can know that it's blue now but this was my test because I hadn't figured out what color I was going to do it yet and so that's how you can know it's legit uh the real versus cartoon real one okay and so then I was like okay so I'm going to use a real magnet because I want to do magnet as the image so I feel confident about that so I want the magnet and so now I had the headline I had the image and now I wanted the sub headline so I said how to get more people to want to buy your stuff versus how to get strangers to want to buy your stuff so how to get strangers to want to buy your stuff one so round two I said how to get more strangers to want to buy your stuff versus how to get strangest about want to buy your stuff look at the difference just with one word 70 versus 30. like these Details Matter think about getting three times like if we're just doing it's two and a half times as many people would click this thing two and a half times simply by removing a word right and so that's why this stuff's so important round three I did how to get as many leads as you don't roll please versus how to get strangers one by your stuff again which is the control at this point it won again and then the last test was get strangers to want to buy your stuff so I was like maybe it's shorter because round two it crushed because it was shorter so maybe just taking words out that was my theory that just proved the theory it wasn't that because how to get strangers want to buy your stuff versus get strangers to want to buy your stuff still outperformed 70 30. really cool right and so let me show you how you do this all right so I just show you how I did it so this is how you can do it depending on your audience size you can run ads straight up you can just run ads ask people and the nice thing is it doesn't cost much money to run an ad to get a large enough sample size you probably spend 50 bucks and you can get the sample size you need to run an ad on this number two is you can just run a poll like that was a poll to my audience I have a big enough audience that I can run that poll and immediately get feedback um and you can do it also on every platform so if you're like okay well my Instagram's not big enough it's like that's fine just run it on your Instagram your Twitter your you know the Facebook like running all the platforms you're on and then you can add them all up on your own side if you still don't have that you can also make a post and ask people to comment just one or two right that'll get you more engagement you can do it again across platforms and if you still don't have enough then just DM people who follow you who are friends with you or even in your phone and say hey what do you think A or B and most people if you're asking Earnest will give you a response and you'll be able to get enough of a directional cue that you can make a decision on it all right and so here's the action set for right now is that you want to test what to name it and bonus points is that if when you ask them which one they like better is that they ask for the thing that you're asking them about and so if you say hey which of these two do you like better and they say I like B when is this coming out that's when you know you have a winner so we're cruising home stretch now we got to make it easy all right so it's like okay we got the weather who we know how to solve we know how to deliver we know how to name it so people are now jumping into our boat okay well then how are we going to get them to convert right so we want to make it fast and easy for them to consume this all right and so here's what's interesting about this is that oh this isn't interesting but people do things that are easy for them you're like wow Alex blew away blew me away with value all right so what we want to do is we want to give them options and so here's a fun factoid for you we have an almost perfect split between ebook audio video and physical copies of the book in terms of consumption almost perfect in that wild so if I only did a physical copy of the book and that was my lead magnet I would miss out on three quarters of the traffic of people who would consume my thing or arguably just as bad is that maybe I would get half the people but they wouldn't be consuming it in the way they want so they would maybe opt in for it but not consume it which then I get leads but I don't get conversions this is why it's so key to understand both sides of it and so we want to make it fast and easy for them to consume the value and we do it at their convenience and so depending on the delivery mechanism we will do it differently so if it's information obviously you do it in this way you want to make it consumable in different ways and so if we're using software we want to make it accessible on their phone on their computer in multiple formats for different devices Android and Apple right so that's why we have it my the ebook is on Kindle and it's also on Audible and on Audible I have it on Audible I also have my podcast right so I have it in different places so people can zoom in different ways that they prefer all right it's ironic but some people like only this in a podcast and don't listen to Audible and some people listen to audible knowledge podcast so whatever one you use go there information all consumption preferences you want to make it available if you do service and this is a key one available in more times in more ways for more days so if you say hey I'll fix your back for you but I'm only available at 7am on Mondays to do this free thing some people just aren't going to do that and so you might be like I'm giving them this back posture assessment for free it's like it doesn't matter man like they don't they don't know you from anybody and guess what there's a guy down the street who will do it anytime it's convenient for them and guess who gets the lead that guy all right so be that guy make it convenient for that make it easy all right and then physical products so this is where you want to make it simple to open and simple to use right so you don't want to have a directions thing they should immediately know how to do and part of that comes into design so like as an example apple boxes are so easy and so elegantly designed that people keep them think about how weird that is like there's basically no other products that you buy and you keep the boxes but people keep apple boxes like no one no one's instructs you to keep the box for Apple but people keep the boxes why because they're so elegant they're so simple to use right and so that's what we want to think about when we're making our lead magnets all right so we made it easy and finally they gotta eat it and they gotta like it so we got to make it good all right and so here's here's the thing zero fluff and hopefully as you're getting pummeled with the stuff that I'm doing here like this is the you actually have to do so I have action steps after every one of these things so you can actually do this and make money in your business all right so zero fluff give away the secrets sell the implementation I give away all the stuff and if somebody wants us to build their whole team out and help and scale the out of like all that stuff like we will help do that right but the information it's yours enjoy it right have more than one valuable thing be better all right so this is a key Point people like what happens if I give away my valuable thing learn something else that's valuable like fundamentally the more value you provide in the marketplace the more money you're going to make and so if you only have one thing that's valuable then learn another thing and give that thing away for free and then sell the other thing right like fundamentally you just need to restate that as a deficient skill deficiency and then fix it all right the market judges you and this is a key Point Market judges you on your free stuff not your paid stuff so here's why this is fascinating at least for me remember that Ogilvy thing with the 80 of your dollar spent with the headline it's the same idea here is that 99.9 of the audience of the people who see your stuff are never going to buy from you and that's okay all right but they will have an opinion about you and their opinion will impact the people who will ultimately or not buy as a result of it which is why you need to make the free thing so good that they're like man I mean I've never bought anything from him but everything I've gotten is is awesome and so your reputation continues to get stronger and stronger and stronger and so much so that you can overpower any naysayers that come at the community because you'd over deliver by such a high degree all right and so here's and I like playing the alternative card well let's say that you're like you know what Alex I give away such good stuff I'm going to give away stuff and you know I know we both know that it's fluff all right let's just be we both know it's fluff but you think it's not but it's fluff all right so you give away sucky fluff all right what happens you actually discourage people who otherwise would have bought not to and that's first order the second order is that and how many times have you gotten a text from someone I mean I get them all the time like hey what do you think about so-and-so or hey like is this guy legit or blah blah well if I consume sucky fluff and someone texts me then I'm like oh no I consumed his free thing it blew it wasn't valuable now you might be thinking well I don't want to give away my valuable thing it's like well the alternative is that everyone thinks you suck so of course you give away the valuable thing and then you should also have a very valuable paid thing all of that has to be valuable and that's why business is hard because you have to provide value all the way through now people judge the value they'll get from your paid thing based on the value of the free thing and so here's what's interesting people make purchasing decisions based on a prediction of future value meaning I take out my wallet and I spend money because I think the thing is going to provide I don't know yet because I can't have known it until I try it right and so it's all based on a prediction it's all based on probability the likelihood that it's going to deliver what they want so what is the easiest way to get someone to predict that they're going to get value from you later is to give them value before so the best way to give to get someone to think they're going to give get value after they buy from you is to give them value before they buy from you it sounds crazy but that's how it works and it took me way too long to learn this so make your free stuff exceptional and make your paid stuff exceptional so finally you have this person so we know who we're doing it we know what we're solving we know how to solve it how to deliver it how to name it how to make it easy how to make it good well how do we make money you have to create next steps so crazy but people forget the last step of this so don't be like that all right so CTA all right this is the call to action so what to do clear simple direct language all right do not be clever be clear if you're a company doing one to ten million dollars in profit applied acquisition.com there is my CTA so if that's you go do that all right now here's the reasons to do it now we stopped taking companies for five months last year because we had so many we recently opened back up so do it before we turn off our valves again because we have to put all the effort that we do into growing the companies we have all right and so that is a call to action if you're that person and you have that go apply the reason to do it is that we stop for five months and if you want it now then do it now because we might not do it for a while again all right and so ideally you want to weave in scarcity which is limited quantity urgency which is time as in I could have an unlimited amount of ebooks but if I say I'm no longer offering this ebook after tomorrow I have urgency not scarcity if I say I only made 10 of these hats that's it they're available forever but the first ten get them there's no urgency but there is scarcity and ideally you want to have both but you can do you can do either of those and still generate significantly more demand than you would otherwise by simply limiting some element of the offer that you're making or the call to action you have and that's one of the strongest reasons to do it now and so if you're like well I don't have a good reason I like using this little frame that I call the fraternity party planner which is you can have any reason to come up with something all right so like a fraternity party planner they're like Timmy got his wisdom teeth out kegger right and so it doesn't matter what the reason is it's more important that you have a reason because any reason is more compelling than no reason at all boom so now you know how to engage your leads by creating a lead magnet great leads want Great lead magnets if you want great leads the great leads want Great lead magnets they want exceptional things how am I going to get a business owner who's doing 10 million in profit a year to think this guy can add value to my business I have to provide exceptional value in the three things that I provide otherwise I'm not going to get that type of person I'm going to get lots of people who don't know any different who don't know any better and just going zero to one but that's not who I'm looking for and so if you want to increase the quality of your prospects increase the quality of your lead magnets all right so a great lead magnet one engages ideal customers when they see it they see it and they think ah I want that two it gets more people to engage than your core offer alone so that's how you know this actually money-wise makes sense like why don't I just offer the core offer to everybody well if you offer the lead magnet first more people ultimately buy that means that for the same effort you lower your cost you who are our customer that's the point of this that's why we do this all right it's not because we just like working more it's because we want to make more money three is that it's valuable enough that people consume it so not only they engage with that they're like oh I'm actually going to consume this thing and get value from it and then four it makes the right people more likely to buy it I want to really underline this you don't want to make everybody more likely to buy you want the right people to be more likely to buy so if you find out somebody who's not qualified doesn't like your lead Magnet or doesn't find Value from it that's okay because they're not the ideal audience and so part of that comes to targeting and that's that's a discussion for later in the book but for now the idea is to kick out the bat as much as you attract the good and so the end result is that more people show interest in our stuff we make more money we improve our brand all at the same time and now finally that we have these things we know what Elite is we know how to solve it we know how to engage them to get engaged leads which is the true output of advertising now we'll talk about advertising

rock and roll so if you now understand what a lead is now it&#39;s like okay well how do I get engaged leads how do I get people to show interest in the stuff I sell well that&#39;s what we&#39;re going to cover right now so there&#39;s nine steps I told you to get really tactical beginning was just to give you a little bit of wet the appetite get you excited the rest of this is going to be like the  you do to get people to want to buy your stuff all right so nine steps how I figure this out why lead magnets are important there&#39;s a little spoiler for you what and who how to deliver how to solve it name it make it easy make it good create the next steps all right let&#39;s rock and roll so here&#39;s how I figure this out so I was trying to get leads for a webinar because I was told by a mentor they&#39;re like hey you need to make a webinar uh to get gym owners I was like okay cool I&#39;ll do that and so I spent all this time trying to make this webinar and spent money advertising it after like eight weeks of trying to make this work and this other guy in the group started he was he helped gym owners do stuff and he started making money on his webinar I was like he&#39;s gonna take all the clients like I&#39;m not going to have there&#39;s gonna be no business left for me um and so I was actually like really upset about it and uh anyways I kept trying it just wasn&#39;t working so finally I got the ads live I figured out how to like run an ad nationally and try to Target an audience and all this stuff figure out a thank you page and a cart and integrate with the payment processor like there&#39;s all these micro skills I had no idea how to do this and so anyways I run some ads I spend 500 bucks I think somewhere in there and uh guess what didn&#39;t make any money uh but what I did get is I got a bunch of emails of people who opted in and never actually watched this thing I spent eight weeks trying to build right and so then I was like well  I reached out to all those guys and was like hey you want to hop on a call and I ended up closing those people after after doing that I was like man I feel like I can make this way easier and so I was scrolling my news feed and I saw a different marketer was like hey here&#39;s a case study that I did on how uh I made whatever a hundred thousand dollars with a retargeting campaign and how you can use retargeting your business um I can&#39;t remember what it was but it was it was it was some case study in the book I had I remember the details and it&#39;s better spelled out point is I clicked into this thing and I saw this 13 minute video of him just screen sharing he&#39;s like here&#39;s how I ran the retargeting campaign he&#39;s like here&#39;s the ads here&#39;s the targeting this is where I let them here&#39;s the amount of leads I got and here&#39;s the money I made and I was like oh my God this is so much easier than a webinar I was like I can do this and so then I re re-went up because I made a little bit of money from the email opt-ins that I&#39;d sold to try it again and uh I just did a screen recording I was like hey here&#39;s how we filled this gym in uh San Diego we had 212 people who signed up in a month I was like here&#39;s the ads here&#39;s the landing page here&#39;s the scheduler this is the script we use here&#39;s how many we sold and here&#39;s a picture of the gym owner like this and if you want us to do that for you let us know and then the lead started pouring in and so the big lesson that I had there is that my specific avatar for whatever reason or at least based on my skill set I was able to get them to watch a case study around this specific thing rather than some really long webinar and to be clear it&#39;s not that webinars didn&#39;t work because the other guy obviously made him work I didn&#39;t have the skill set yet and so this getting the right lead magnet for the right Avatar the right person you&#39;re trying to sell to was a huge lever and I want I want to like pause here and emphasize this if you&#39;re not getting enough leads It&#39;s usually the lead magnet isn&#39;t good enough or attractive enough to your ideal audience they&#39;re not engaging with it right we want to take leads and get them to engage so think about this as like the picket line and you have this really nice carrot on the other side of it and the bigger and the juicier the carrot the more people want to jump across to your side and give their information and say I&#39;m interested all right so this is how I figured out how important it was to get the right lead magnet all right so why lead Max the general so the offer is the products or Services you exchange for money and the terms associated with The Exchange that&#39;s what an offer is that&#39;s what your core thing is the thing you sell right the thing that you make the most money from is your core offer now you have lots of offers in your business all over the place if you think about it this content is an offer of some sort right you whatever I did to drive you to here wasn&#39;t offer I was like hey I&#39;ve got this thing like if you read it from the book you say hey there&#39;s a course and it&#39;s free and I don&#39;t have to opt in for it that was an offer right is it the core offer for me no my core offers that I buy into companies like that&#39;s my core offer that&#39;s where I make the most money right but it isn&#39;t an offer all right and so a league magnet and this is what I&#39;ll be really clear about and people mess this up a lead magnet is a complete solution to a narrow problem given away at a significant discount or free to attract ideal customers that&#39;s what a lead magnet is and so this course the books the content in some ways are all lead magnets because guess what&#39;s going to happen we solved the first problem the first book which is what do I sell that was a complete solution to a narrowly defined problem if you only know what to sell that does not necessarily mean you&#39;re going to make more money now if you have other skills then it&#39;ll enhance the amount of money you make but naturally for me with leads being the second thing it&#39;s like okay well once you have leads what&#39;s the next problem you&#39;re going to actually come into you don&#39;t know how to close and I&#39;ll make more stuff around that later but like I&#39;m trying to solve these one by one and I wish I had a limited time I&#39;m doing I&#39;m I&#39;m documenting them as I spit them out for you guys all right but once you solve the narrow problem and it should reveal the next problem solved only by your core offer and so fundamentally for me I have other free sales stuff that&#39;s on the Internet it&#39;s there I&#39;ll formalize it in books and trainings in the future but the point is is that hopefully with enough of my stuff someone solves their true core problem for me which is that they get to a million or two million or 5 million a year in profit and they say I don&#39;t know how to get past this or I&#39;ve never done this and I want someone to help me go from 5 to 20 or 20 to 100 whatever it is and that&#39;s where we come in that&#39;s the core offer that we have is that someone I solve all the problems of somebody who&#39;s at you know a million five million a year in profit 10 million year in profit and they want to come to us let&#39;s go to the next level that&#39;s how this works hopefully this is kind of like meta defining of like both what I&#39;m doing and what you can see at the same time for your business work all right and so we started with the Grand Slam offer but if you can&#39;t get enough leads you need a lead magnet all right and so think about it this way the reason I like lead magnets is that you can just pitch your core thing I could get up here and just say like if I had no content just think about it this way imagine I had no content I had no books I had no anything I could just say hey if you&#39;re looking to scale your company hit me up and I might get a percentage of people who&#39;d be willing to take me up on that maybe I mean if I did enough volume I would be able to get people to do that and so think about that as the left side so these are made up numbers just to illustrate the concept so let&#39;s consider my core offer is that little gift thing all right that&#39;s my core offer so if I show this to a low trust list of people so they don&#39;t know much about me I haven&#39;t provided any value I just say hey I do this thing somebody who&#39;s in enough pain might actually just jump at that it&#39;s possible I mean many businesses are built on that and so out of 25 people I might get one sale or maybe a hundred people I might get one sale depends on what I&#39;m selling right but just for illustration purposes I probably did 25 just because I couldn&#39;t fit 100 little guys on the screen but don&#39;t worry about the percentages it&#39;s more the concept now let&#39;s introduce the same idea but with the lead magnet all right so I show those 25 people and I say hey I&#39;ve got this free thing it&#39;s going to help you solve your problem all right it&#39;s narrowly defined problem and it&#39;s all valuable and it&#39;s free it&#39;s yours so what happens is a percentage of those people say you know what that that is helpful for me I do I do kind of suffer from that problem and this is this is a low low risk investment for me all I&#39;m really investing is time and that is an investment it&#39;s just for many people a lower investment than money less trust is required to give time the money for most people so then a percentage of those people then consume the thing and say man this guy&#39;s pretty good at this thing he helped me solve this narrow problem but I have this other problem and guess what now I say hey I know I I fulfilled my first promise to you is that I was going to help you solve this problem I can help you solve a much bigger problem in this way and now we make our core offer and now we make it to a high trust group of people and we have a significantly higher take rate on it and so we use the lead magnet not because we&#39;re great people but because we want to make more money and we do that by building more trust and providing value in advance and so that is kind of the before and after now again if you&#39;re brand new to this sometimes you can&#39;t just go make a core offer I&#39;m not saying it doesn&#39;t work I&#39;m saying this is how I do it a simple visual for you is if you had a bar or a restaurant and you gave out salty nuts for free just want to say salty nuts uh some people a certain percentage people be like man I&#39;m kind of thirsty and then you have ice cold water sitting there and you sell the ice cold Waters so even if you give away salty nuts for free you can make it up and some in the profit you make from the core offer or the upsell in the situation all right and so an interesting factoid about this is like the reason Costco has done food samples for such a long time they stopped during cover because of germs whatever but like they did it for a very long time and I think they&#39;re bringing it back is that it drove sales so they knew that giving away free food and paying people to sit there giving away toothpicks of stuff sold more product and so they&#39;re not idiots they&#39;re not just like oh well if we give away all this free stuff people are going to eat all this food they&#39;re not going to want to buy they&#39;re not going to buy anything it doesn&#39;t work that way that&#39;s not how reciprocity works it&#39;s not how like what happens when you try the like let&#39;s say you try all the things at Costco sampling which many people do all right well you tried 20 things but one of them you really liked you&#39;re like man this bean dip seven layer bean Dip&#39;s not that bad what do you do you buy one and what do you what would you have not done if you hadn&#39;t done it you wouldn&#39;t have bought it all together if they had offered none of those so the cost of all those samples is the cost of delivering the lead magnet but they make it up and some and you buying the thing right and so lead magnets get Prospect to take one step closer to buying your stuff and this is like what if I can imprint this on you a person who pays with their time now is more likely to pay with their money later and so we want is to get them to pay with their time early so that we can increase the likelihood they give us money later that&#39;s the whole game and when they pay with their time we want to make sure we give them a high return on their time by making sure the thing that we gave them was incredibly valuable because if we give them that bean dip and the bean dip was they&#39;re not going to buy more bean dip and they might also tell a bunch of people that are being dip socks right so we want to have good bean dip the seven layer kind the exceptional kind all right so that&#39;s why I use lead magnets in general so let&#39;s go into the wood in the hill all right so with 100 leads example my book in this video series are lead magnets you are a lead I want to solve your engaged leads problem I want to solve it for people making less than a million dollars a year in annual profit with enough ideas you make more than a million dollars a year and discover new scaling problems that I can help you solve by investing in your business right that is the problem solution cycle and so it looks like this visually all problems when solved create a new problem all right so for example if I uh solve the leads problem the next problem you&#39;ll have is sales once you have the sales problem then you&#39;ll have the delivery problem the churn problem once you have the churn problem you might have the you know scaling operations problem once you have the scaling operations problem you might be like I&#39;m stuck I don&#39;t know what to do we have to go back to the beginning and increase traffic like every every problem that gets solved creates a new problem and that&#39;s the never ending cycle of business and really life right as soon as you can&#39;t find a girlfriend and then you find a girlfriend then you got girlfriend problems right then you&#39;re like man I&#39;m not married then you still have your girlfriend problem with a wife problem and then you got wife problems right but like each time you solve a problem you still just open up a new door but the thing is ideally we just want to trade bad problems for better problems but problems don&#39;t go away and so let&#39;s imagine that we&#39;re we&#39;re selling homeowners all right so we&#39;re trying to help them sell their homes and that&#39;s a very broad Solution that&#39;s a big thing right so what we want to do is break that into micro steps and micro problems that we have to solve towards that one big one right so what are all the steps before you sell home right well the owners are going to want to know what their house is worth they&#39;re going to know how to increase its value they&#39;re going to need pictures cleaning Landscaping staging Etc right and these are all very narrow problems which are great for lead magnets and so we pick one of those narrow problems and we solve it for free and although it helps it makes their other problem more obvious they still have to sell their house but we show them where their house is worth we show them how to increase their value maybe we did one of these things increase their value and we made that promise we delivered on that promise and now they&#39;re like well I trust you I don&#39;t trust these guys because you help me out with this other thing when I needed you we have our foot in the door and now we found we turn a lead into a customer right and so the action step for right now is that you pick The Who and the what so who are you going to solve the very valuable narrow problem for that&#39;s what we&#39;re picking right now so pick that right now now let&#39;s get into how to solve it so there&#39;s three types of lead magnets I looked at all of our all of our businesses all of our portfolio companies my past companies the different offers we did so I did like a big meta review I was like okay what are all the different types of lead Max and they basically thought of these three buckets so type number one is a type of lead man that reveals a problem all right so any kind of assessment so if I did a uh if I had if I had SEO services or you know site optimization Services my revealing the problem would be like I&#39;ll give you a free audit of the site and I&#39;ll show you what your page load time is and what it could potentially be right that&#39;s a revealing a problem I&#39;m not solving anything but I&#39;m making them aware of a problem they didn&#39;t know existed that&#39;s type one type 2s that give a free trial of a thing so if you try this thing and if you want more of the same thing that you tried you have to pay very simple the third version is where you give away one step of a multi-step process for free and the rest are charged for all right so we&#39;ll give you examples of each of these with revealing the problem think diagnosis all right so this works great for problems that get worse while you wait so speed test on a website is what I said uh posture analysis like someone&#39;s posture gets worse over time if they don&#39;t know that they have a posture issue right if you can do termite inspections the longer you wait with the termite inspection the more expensive the problem gets to fix and so ideally if you have problems that you do with your business that become more expensive is uh as they take time you already have implied urgency the moment that you reveal the problem and so it makes them likely to want to take the next step now they&#39;re aware of the snake that&#39;s under their under their table right so that is type one so if you&#39;re thinking about this okay I have my who and what well how do I want to solve it so one is you can reveal the problem the second is think of this as like a taste so when you&#39;re doing a free trial it&#39;s a taste just like Costco right you can limit the number of uses right like they limit the quantity they&#39;re not going to give you the whole dip thing they give you a little little toothpick full you can limit the number of uses the quantity of the use the time they have access to it or both right so if you have like a software for example then they might be able to use it and they can limit the number of uses if it&#39;s a per if it&#39;s a use case thing or how much of they get you have to just limit some component of it all right and so using the same three business examples as earlier and this is a big point I want to make is any of these three work with any business so I had the Speed thing earlier and I gave you an example of what the diagnosis would look like which is I will audit their site and show them how fast it is if I want to give a free trial version I would hook them up to my faster server and decrease their website load times make it faster show them how many more leads they&#39;re getting because it&#39;s faster and now what do they want well I want to keep that well great now you have to pay right with the adjustment the posture analysis well the trial version of this I just give them the adjustment I immediately fix their posture and I can show them that now what are they going to do it&#39;s like well I did one and I fixed you temporarily but we have to do this over and over again until eventually it fixes for good right that&#39;s the idea in food or Cosmetics any kind of consumables that&#39;s for fun sized packaging comes into play right and so those are the free trial versions now the reason I&#39;m underlining this is that all three of those are the same business I showed you earlier it&#39;s just a different way to solve the problem and this is the point of this is to get your ideas your juices moving so you think how can I use this in my business not this won&#39;t work in my business just think how will this work and how can I make this work for me so the third version of this is the multi-step process you give one piece away of a multi-step so think one of many steps right unsurprisingly so this book for example is a helps you get to a million dollars in profit now there&#39;s other steps that are required after that and that&#39;s what we invest in companies for right uh free garage door would sealant let&#39;s say there&#39;s one of three coats right now in the website example I might say that there&#39;s 10 things we can do to improve your website speed I will do the first one there&#39;s nine other things that we can do would you like to know how the rest of these can improve your site right with the posture analysis we might say okay well there&#39;s back cracking there&#39;s also Electro shocking there&#39;s also massage there&#39;s also stretching right we actually like to have a a combined attack a multi-disciplinary approach to our treatment of patients whatever you get the idea uh and so I say I&#39;m going to give away the cracking but not the massaging the electro shocking and the and the massage right and so I have these other things and so they&#39;re like well I want those too because that thing worked right and that&#39;s the idea we gave away one piece of a multi-step process right and this is also where like free course calculator templates Etc that are the first step so you see like Wealth Advisors giving away templates for how much wealth can grow it&#39;s like well great that&#39;s kind of a combination of one step of a multi-step and diagnosis and I and I put that last one in there for for this reason is that like the buckets matter less than you thinking creatively about how to create your lead Map to solve the problem there are no rules these are just the three buckets that I have seen most neatly fit all of the solutions that we&#39;ve given away across all portfolio companies that have gotten more people to want to buy our stuff and so those are the three lead magnet tights and the idea here is that you want to be a legal drug dealer all right and so think about what a drug dealer does like the first hit&#39;s always on the house right the first Hits free and so you want to give away the first hit and the reason drug drug dealing is such a great business because the product&#39;s exceptional people immediately get a result right and it&#39;s guaranteed virtually as long as that&#39;s not bad right and what do they want it also creates addictive behavior and so they want to come back like ideally that&#39;s what the perfect product does right now I&#39;m not saying you sell drugs but I&#39;m saying you should behave and learn lessons from them so that we can make money like one and so the action step is pick how you want to solve the narrow problem so you want to reveal it you want to sample it or you give one step of many those are the three now we have to pick how do we want to deliver it so we picked how we&#39;re going to solve it there&#39;s lots of ways to deliver that solution even like if even a diagnosis a million ways you can actually deliver the diagnosis right so there&#39;s four delivery mechanisms again this is just from what we&#39;ve seen across our portfolio companies and that I&#39;ve used successfully one is that you can use software second is use information like this third is that you can do services and fourth is you can use physical products all right and so each of these work with the three how to solves from the last point so if you think about this like a matrix and so you got three of those times four of those you got 12 different possible I think three times four I think that&#39;s what it is 12 different combinations that you can put together all right so software fundamentally you give them a tool that&#39;s what this is all right so if you have a spreadsheet a calculator a small software your technology does a job for them all right so an example is you give a spreadsheet a dashboard for gym owners that gives them all the relevant stats and Compares them to Industry averages now why would that be a useful tool for us to give away because we say hey here&#39;s you here&#39;s our average gyms the Delta is the value that we can unlock would you like to learn more right we can give it away for free that&#39;s a saw for example that&#39;s how I can deliver that diagnosis there&#39;s lots of ways to do it but I&#39;ve had it with software that&#39;s how I do it with information you teach them something all right so courses lessons interviews with expert keynote presentations Live Events mistakes and pitfalls hacks tips Etc anything they can learn from is information all right so example for us I&#39;m using the gyms for this to give you a nuanced example is that I give a mini course away to gyms on how to write ads it&#39;s a free thing a Give It Away how to write ads now what happens when you know how to write ads you got to know how to play sets and after that where do I send them you got to send them a landing page if you don&#39;t want to build land right we can still absolutely totally over deliver in value and completely fulfill our promises and be like this is the best thing I&#39;ve ever seen on how to write ads for gyms but I didn&#39;t promise I was going to build you know 10x their gym I just thought I can help you this but you still gain the trust and they take the next step and to be clear it&#39;s not that everybody&#39;s gonna take the next step it&#39;s just a percentage of people will and in my opinion more than would otherwise have taken a step if you only went straight for the offer the third thing this is actually one of my favorite things to give away and I don&#39;t talk about as much because it&#39;s like almost like secret and dirty because how good it is but you do work for free if you have this little pain in your stomach like give a workway for free undervalue myself right I&#39;m a special snowflake I think you get so much good will giving away something that people know cost you something and that is something that is unscalable and provides so much good will that you get so much persuasive power as a result of giving that give that you get a disproportionate amount of people to want to work with you also when you do service you actually have a lot of interface with people and so your ability to sell them or soft sell them during that experience goes way up all right and so you do work for free you adjust their back you perform a website audit you apply the first layer of garage sealant you transform their video into an ebook whatever the service is you do it for free and so the example I&#39;ll give you is Iran gym owners ads for free for 30 days I&#39;ll run the ads for free I&#39;ll get you leads for free to show you I know what I&#39;m doing now what happens after you get leads for free you make some money what happens when you make some money you want to keep making money ah in exchange for making continuing to make money I would like to make some of it as well simple offer all right number four physical products you give them something that they can hold in their hands all right so posture assessment chart if I was doing the diagnosis thing a supplement a bottle of garage door sealant rather than doing it I give them the sealant boxing gloves to get boxing leads into the gym so I sell a physical book called Jamal Secrets something they can hold in their hands if I sold t-shirts that said gym owner on it that would also be something that a gym owner might say hey I&#39;m interested in it but here&#39;s my caveat the closer you want the lead magnet to be close to the thing that you sell as close as possible all right so let me give you an example so if I sold I.T services and I gave away free t-shirts that branded their company&#39;s name on it people would want that but people would want that would not necessarily want I.T Services it doesn&#39;t naturally lead to the next my core offer right and so if I gave away the logo for the t-shirts that might be a great lead magnet for an apparel white labeler because they might well more apparel so then that leads naturally so it&#39;s not the lead man is good or bad is which one is right for your core offer your business what might be an amazing lead magnet for one business might be a terribly magnet for another business and that&#39;s why I started with the problem solution cycle earlier is that you want to make sure that the thing you&#39;re giving away leads naturally to the problem that you can solve next all right so those are the four delivery mechanisms you give away software you give away information you give away Services you give away physical products all right each of these work with the three how to solve some of the point before so here&#39;s the action step you pick how you want to deliver the solution that&#39;s the goal you pick one of those four now now we&#39;ve got everything we have we know The Who and the what that we&#39;re going to do we know how we&#39;re going to solve you know how we&#39;re going to deliver it well guess what we still got to name it and as silly as the sounds I&#39;ll tell you an interesting function that just happened this week so uh one of our our editors we&#39;re looking at a short video that they&#39;re like man I really thought this was a good video and it totally tanked it got like 4 000 views which for us was a tank and so they looked at it they made some notes and all they did was they chopped the first five seconds of the video and redid basically just redid the first five seconds of the video and that one change took it from 4 000 views to 850 000 views would that one change and so that&#39;s a 200x increase in viewership from one change which is how people framed the value that they were about to consume like the core value of the video is the same but how people perceived the first five seconds was the thing that changed the frame that they consumed the information in and so we may have this value but how we frame or position our lead magnet matters a lot arguably from a lead generating perspective more than everything else now from a perspective of leave conversion of getting those leads to want to buy the thing that you have to sell how good it is is going to matter more but how you name it will determine how well it performs as an actual lead magnet for getting you leads all right I just want to make sure that I&#39;m clear on this so let me show you what this actually looked in the real world because I test everything so for the 100 million leads book I tested the names which book title would you more likely want to grab so 100 advertising 100 million promotion well advertising won the first test I was like okay well which book title most interest you so I said advertising and leads leads won that test I was like huh okay so it&#39;s got like a winner sprocket so then I took leads and did it against marketing and leads one again and I could give you a million reasons of why I think that is it honestly doesn&#39;t really matter all I know is that it outperformed and so this is a quote that I love from David Ogle he said after you&#39;ve written your headline you spent 80 cents of your advertising dollar so think about that if the first five seconds is what 85 percent of people or making that split decision when they see the headline of your ad or the name of your lead magnet immediately sorts 80 90 of the traffic that you have then isn&#39;t it crazy that we don&#39;t spend more time testing that one piece the pros who are watching this right now are nodding their heads because they get it this is important especially when it comes to getting them to engage getting them to convert is how good it is get them to engage is how you name it so these this wasn&#39;t even the final version because you can know that it&#39;s blue now but this was my test because I hadn&#39;t figured out what color I was going to do it yet and so that&#39;s how you can know it&#39;s legit uh the real versus cartoon real one okay and so then I was like okay so I&#39;m going to use a real magnet because I want to do magnet as the image so I feel confident about that so I want the magnet and so now I had the headline I had the image and now I wanted the sub headline so I said how to get more people to want to buy your stuff versus how to get strangers to want to buy your stuff so how to get strangers to want to buy your stuff one so round two I said how to get more strangers to want to buy your stuff versus how to get strangest about want to buy your stuff look at the difference just with one word 70 versus 30. like these Details Matter think about getting three times like if we&#39;re just doing it&#39;s two and a half times as many people would click this thing two and a half times simply by removing a word right and so that&#39;s why this stuff&#39;s so important round three I did how to get as many leads as you don&#39;t roll please versus how to get strangers one by your stuff again which is the control at this point it won again and then the last test was get strangers to want to buy your stuff so I was like maybe it&#39;s shorter because round two it crushed because it was shorter so maybe just taking words out that was my theory that just proved the theory it wasn&#39;t that because how to get strangers want to buy your stuff versus get strangers to want to buy your stuff still outperformed 70 30. really cool right and so let me show you how you do this all right so I just show you how I did it so this is how you can do it depending on your audience size you can run ads straight up you can just run ads ask people and the nice thing is it doesn&#39;t cost much money to run an ad to get a large enough sample size you probably spend 50 bucks and you can get the sample size you need to run an ad on this number two is you can just run a poll like that was a poll to my audience I have a big enough audience that I can run that poll and immediately get feedback um and you can do it also on every platform so if you&#39;re like okay well my Instagram&#39;s not big enough it&#39;s like that&#39;s fine just run it on your Instagram your Twitter your you know the Facebook like running all the platforms you&#39;re on and then you can add them all up on your own side if you still don&#39;t have that you can also make a post and ask people to comment just one or two right that&#39;ll get you more engagement you can do it again across platforms and if you still don&#39;t have enough then just DM people who follow you who are friends with you or even in your phone and say hey what do you think A or B and most people if you&#39;re asking Earnest will give you a response and you&#39;ll be able to get enough of a directional cue that you can make a decision on it all right and so here&#39;s the action set for right now is that you want to test what to name it and bonus points is that if when you ask them which one they like better is that they ask for the thing that you&#39;re asking them about and so if you say hey which of these two do you like better and they say I like B when is this coming out that&#39;s when you know you have a winner so we&#39;re cruising home stretch now we got to make it easy all right so it&#39;s like okay we got the weather who we know how to solve we know how to deliver we know how to name it so people are now jumping into our boat okay well then how are we going to get them to convert right so we want to make it fast and easy for them to consume this all right and so here&#39;s what&#39;s interesting about this is that oh this isn&#39;t interesting but people do things that are easy for them you&#39;re like wow Alex blew away blew me away with value all right so what we want to do is we want to give them options and so here&#39;s a fun factoid for you we have an almost perfect split between ebook audio video and physical copies of the book in terms of consumption almost perfect in that wild so if I only did a physical copy of the book and that was my lead magnet I would miss out on three quarters of the traffic of people who would consume my thing or arguably just as bad is that maybe I would get half the people but they wouldn&#39;t be consuming it in the way they want so they would maybe opt in for it but not consume it which then I get leads but I don&#39;t get conversions this is why it&#39;s so key to understand both sides of it and so we want to make it fast and easy for them to consume the value and we do it at their convenience and so depending on the delivery mechanism we will do it differently so if it&#39;s information obviously you do it in this way you want to make it consumable in different ways and so if we&#39;re using software we want to make it accessible on their phone on their computer in multiple formats for different devices Android and Apple right so that&#39;s why we have it my the ebook is on Kindle and it&#39;s also on Audible and on Audible I have it on Audible I also have my podcast right so I have it in different places so people can zoom in different ways that they prefer all right it&#39;s ironic but some people like only this in a podcast and don&#39;t listen to Audible and some people listen to audible knowledge podcast so whatever one you use go there information all consumption preferences you want to make it available if you do service and this is a key one available in more times in more ways for more days so if you say hey I&#39;ll fix your back for you but I&#39;m only available at 7am on Mondays to do this free thing some people just aren&#39;t going to do that and so you might be like I&#39;m giving them this back posture assessment for free it&#39;s like it doesn&#39;t matter man like they don&#39;t they don&#39;t know you from anybody and guess what there&#39;s a guy down the street who will do it anytime it&#39;s convenient for them and guess who gets the lead that guy all right so be that guy make it convenient for that make it easy all right and then physical products so this is where you want to make it simple to open and simple to use right so you don&#39;t want to have a directions thing they should immediately know how to do and part of that comes into design so like as an example apple boxes are so easy and so elegantly designed that people keep them think about how weird that is like there&#39;s basically no other products that you buy and you keep the boxes but people keep apple boxes like no one no one&#39;s instructs you to keep the box for Apple but people keep the boxes why because they&#39;re so elegant they&#39;re so simple to use right and so that&#39;s what we want to think about when we&#39;re making our lead magnets all right so we made it easy and finally they gotta eat it and they gotta like it so we got to make it good all right and so here&#39;s here&#39;s the thing zero fluff and hopefully as you&#39;re getting pummeled with the stuff that I&#39;m doing here like this is the you actually have to do so I have action steps after every one of these things so you can actually do this and make money in your business all right so zero fluff give away the secrets sell the implementation I give away all the stuff and if somebody wants us to build their whole team out and help and scale the out of like all that stuff like we will help do that right but the information it&#39;s yours enjoy it right have more than one valuable thing be better all right so this is a key Point people like what happens if I give away my valuable thing learn something else that&#39;s valuable like fundamentally the more value you provide in the marketplace the more money you&#39;re going to make and so if you only have one thing that&#39;s valuable then learn another thing and give that thing away for free and then sell the other thing right like fundamentally you just need to restate that as a deficient skill deficiency and then fix it all right the market judges you and this is a key Point Market judges you on your free stuff not your paid stuff so here&#39;s why this is fascinating at least for me remember that Ogilvy thing with the 80 of your dollar spent with the headline it&#39;s the same idea here is that 99.9 of the audience of the people who see your stuff are never going to buy from you and that&#39;s okay all right but they will have an opinion about you and their opinion will impact the people who will ultimately or not buy as a result of it which is why you need to make the free thing so good that they&#39;re like man I mean I&#39;ve never bought anything from him but everything I&#39;ve gotten is is awesome and so your reputation continues to get stronger and stronger and stronger and so much so that you can overpower any naysayers that come at the community because you&#39;d over deliver by such a high degree all right and so here&#39;s and I like playing the alternative card well let&#39;s say that you&#39;re like you know what Alex I give away such good stuff I&#39;m going to give away stuff and you know I know we both know that it&#39;s fluff all right let&#39;s just be we both know it&#39;s fluff but you think it&#39;s not but it&#39;s fluff all right so you give away sucky fluff all right what happens you actually discourage people who otherwise would have bought not to and that&#39;s first order the second order is that and how many times have you gotten a text from someone I mean I get them all the time like hey what do you think about so-and-so or hey like is this guy legit or blah blah well if I consume sucky fluff and someone texts me then I&#39;m like oh no I consumed his free thing it blew it wasn&#39;t valuable now you might be thinking well I don&#39;t want to give away my valuable thing it&#39;s like well the alternative is that everyone thinks you suck so of course you give away the valuable thing and then you should also have a very valuable paid thing all of that has to be valuable and that&#39;s why business is hard because you have to provide value all the way through now people judge the value they&#39;ll get from your paid thing based on the value of the free thing and so here&#39;s what&#39;s interesting people make purchasing decisions based on a prediction of future value meaning I take out my wallet and I spend money because I think the thing is going to provide I don&#39;t know yet because I can&#39;t have known it until I try it right and so it&#39;s all based on a prediction it&#39;s all based on probability the likelihood that it&#39;s going to deliver what they want so what is the easiest way to get someone to predict that they&#39;re going to get value from you later is to give them value before so the best way to give to get someone to think they&#39;re going to give get value after they buy from you is to give them value before they buy from you it sounds crazy but that&#39;s how it works and it took me way too long to learn this so make your free stuff exceptional and make your paid stuff exceptional so finally you have this person so we know who we&#39;re doing it we know what we&#39;re solving we know how to solve it how to deliver it how to name it how to make it easy how to make it good well how do we make money you have to create next steps so crazy but people forget the last  step of this so don&#39;t be like that all right so CTA all right this is the call to action so what to do clear simple direct language all right do not be clever be clear if you&#39;re a company doing one to ten million dollars in profit applied acquisition.com there is my CTA so if that&#39;s you go do that all right now here&#39;s the reasons to do it now we stopped taking companies for five months last year because we had so many we recently opened back up so do it before we turn off our valves again because we have to put all the effort that we do into growing the companies we have all right and so that is a call to action if you&#39;re that person and you have that go apply the reason to do it is that we stop for five months and if you want it now then do it now because we might not do it for a while again all right and so ideally you want to weave in scarcity which is limited quantity urgency which is time as in I could have an unlimited amount of ebooks but if I say I&#39;m no longer offering this ebook after tomorrow I have urgency not scarcity if I say I only made 10 of these hats that&#39;s it they&#39;re available forever but the first ten get them there&#39;s no urgency but there is scarcity and ideally you want to have both but you can do you can do either of those and still generate significantly more demand than you would otherwise by simply limiting some element of the offer that you&#39;re making or the call to action you have and that&#39;s one of the strongest reasons to do it now and so if you&#39;re like well I don&#39;t have a good reason I like using this little frame that I call the fraternity party planner which is you can have any reason to come up with something all right so like a fraternity party planner they&#39;re like Timmy got his wisdom teeth out kegger right and so it doesn&#39;t matter what the reason is it&#39;s more important that you have a reason because any reason is more compelling than no reason at all boom so now you know how to engage your leads by creating a lead magnet great leads want Great lead magnets if you want great leads the great leads want Great lead magnets they want exceptional things how am I going to get a business owner who&#39;s doing 10 million in profit a year to think this guy can add value to my business I have to provide exceptional value in the three things that I provide otherwise I&#39;m not going to get that type of person I&#39;m going to get lots of people who don&#39;t know any different who don&#39;t know any better and just going zero to one but that&#39;s not who I&#39;m looking for and so if you want to increase the quality of your prospects increase the quality of your lead magnets all right so a great lead magnet one engages ideal customers when they see it they see it and they think ah I want that two it gets more people to engage than your core offer alone so that&#39;s how you know this actually money-wise makes sense like why don&#39;t I just offer the core offer to everybody well if you offer the lead magnet first more people ultimately buy that means that for the same effort you lower your cost you who are our customer that&#39;s the point of this that&#39;s why we do this all right it&#39;s not because we just like working more it&#39;s because we want to make more money three is that it&#39;s valuable enough that people consume it so not only they engage with that they&#39;re like oh I&#39;m actually going to consume this thing and get value from it and then four it makes the right people more likely to buy it I want to really underline this you don&#39;t want to make everybody more likely to buy you want the right people to be more likely to buy so if you find out somebody who&#39;s not qualified doesn&#39;t like your lead Magnet or doesn&#39;t find Value from it that&#39;s okay because they&#39;re not the ideal audience and so part of that comes to targeting and that&#39;s that&#39;s a discussion for later in the book but for now the idea is to kick out the bat as much as you attract the good and so the end result is that more people show interest in our stuff we make more money we improve our brand all at the same time and now finally that we have these things we know what Elite is we know how to solve it we know how to engage them to get engaged leads which is the true output of advertising now we&#39;ll talk about advertising

Transcript for:Lead Generation and Lead Magnets

Transcript for:
Lead Generation and Lead Magnets