0:01 What if I told you there were a way that you could get more leads than you're
0:05 currently [music] getting? Sell more of those leads overall without increasing
0:09 any of your advertising at all. I'm Alexi. I own acquisition.com. It's a
0:12 portfolio of companies that last year did over $250 million in aggregate
0:16 revenue. And [music] the strategy I'm going to share is something that most
0:19 businesses don't do and the few businesses that do it do it wrong. And
0:22 so most people send traffic to their website [music] and immediately ask
0:25 people to buy something or just like submit for a quote. But here's the
0:28 problem. I'm like, most visitors aren't ready to buy yet and so they just leave
0:32 and they never come back. I mean, if you think about it for you, I often don't go
0:36 to sites that I'm just just finding out about where it says submit for quote.
0:41 I'm just like, ah, that's a lot, right? And so, what I'm about to show you has
0:45 generated many millions of dollars across our portfolio companies and I've
0:49 used it in every business we've invested in and ones that I haven't invested in.
0:52 And so, in this video, I'm going to show you what it is, why it matters, and how
0:56 to implement in your business. So, what is it? A few months back, I did a deep
1:01 dive with Ashley, who is a fashion personal stylist, right? And so, when we
1:05 went to her site, she had the classic, you know, just book a call, right? CTA
1:10 or just ask for a quote. But the thing is is that that really only works if you
1:15 already have an informed audience. So, if people already know who you are,
1:18 they've already gotten value from you, then you can for sure just say, "Hey,
1:21 come buy my thing or come find out more." Right? But if you're sending
1:25 traffic there and you don't have as much traffic or it's not as warm, then you
1:30 want to have something that is a better reason for them to give their contact
1:32 information. Because if you think about like what is the objective of submit for
1:38 a quote or book a call, the only objective of that step is to capture
1:42 their contact information and then if you have a booking to get them to book
1:45 automatically, but fundamentally it's a lead capture objective. We should then
1:48 ask ourselves, well, is there anything else we could do that would increase the
1:51 likelihood that we would capture the lead as long as the way that we're
1:56 capturing the lead indicates that they'd be interested in buying our stuff. To be
2:01 clear, what I'm suggesting is that you offer something kind of like a mini
2:05 offer that's a complete solution to a narrow problem. And so, it's typically
2:09 lower cost or free just to see who's interested and raises their hand, right?
2:13 And then once you solve the problem, once that little mini offer solves it,
2:17 it reveals another problem that's solved by your core offer. And this is
2:21 important because leads interested in lowerc cost or free offers now are more
2:26 likely to buy a related higher cost offer later. And if that sounded really
2:31 well said, it's because I wrote it ahead of time on page 31 in the leads book. I
2:36 talk about this concept in the book at length. And it's because so many
2:39 businesses lack this. And I think part of it is because you can show that you
2:42 have success if you just say, "Hey, come buy my thing." But if you want to
2:48 dramatically increase the number of customers that you have access to, then
2:52 if you have, like I said, you know, let's say you have 10 people that you
2:56 say, "Hey," or let's say 100 people. So you have 100 people and you say, "Hey,
2:59 come buy my thing." Right? Maybe you get one of those people to raise their hand
3:03 and say, "Yay, you can I'll give you money. Here's my big bag of money. Yay."
3:07 Right? I'll do that. But if we have those same hundred people and we say,
3:11 "Hey, you don't have to buy anything. I just want to help you out." And then
3:14 after we help them out, we say, "Hey, now do you want to buy something?" Then
3:17 all of a sudden, we're going to get that many people with our little money sign,
3:22 but we might get three to five times that amount of people. And that's where
3:26 the real magic is. And so the beauty of this is that you're actually not going
3:29 to get more traffic. You're just going to convert a higher percentage of it.
3:32 And this is why it's such an easy strategy for businesses to do. And you
3:35 can do it immediately. you don't have to spend any more money on marketing. It
3:38 literally just drops to your bottom line. Like if you improve conversion,
3:40 you just make more money. So, let me tell you the first time I had this big
3:43 breakthrough for myself. So, in April of 2016, I paid, you know, $25,000 to be in
3:48 this group and everybody there told me to do a webinar. And I did a webinar and
3:52 it didn't work. Now, to be clear, so let's say that webinars didn't work. I
3:54 didn't have the skill at the time to do one. And so, I saw this dude just
3:59 scrolling on my on my feed that said free case study on how I spent $1 and
4:03 made $120,000 in a weekend. Right? So, I saw this case study and I was like,
4:07 "Huh?" And so when I when I opted in and watched it, the guy just did a screen
4:10 recording of like how he did it. And I was like, "Well, that's pretty cool." I
4:13 was like, "I could do that, right?" And so I swapped out my webinar for just a
4:17 video with a headline that said, "Free case study, how we added 213 members to
4:23 a gym and $112,000 in San Diego, right? To a small gym in San Diego." And as
4:27 soon as I did that, the next morning, Ila asked me, she's like, "What did you
4:29 do?" And I was like, "What? What happened?" And she was like, "My
4:33 calendar's full." I was like, "Really?" My lesson on that was like, cuz a
4:37 webinar could be perceived as a lead magnet depending on how it's positioned.
4:41 The thing is is that the more advanced your audience, the more they'll probably
4:44 understand it's a sales pitch. So, the less likely it's to convert to a more
4:47 business owner audience or more sophisticated audience. But when I just
4:50 said, "Hey, here's this thing. Consume it on your own time. Let me just show
4:53 you what I did." A lot of people were really interested in that. And they were
4:56 way more willing to exchange their contact information. And so, even if,
4:59 for example, you say, "You know what? I am going to give up, you know, a little
5:02 a little lead magnet, if you will, on the front end. If it doesn't work, it
5:05 doesn't mean lead mags don't work. It just means that that lead magnet didn't
5:07 work. Just like the headline for an ad, it doesn't mean ads don't work. It just
5:10 means that that ad didn't work. And so, this is why I'm actually so adamant
5:13 about testing the wrapping or the packaging of a lead magnet even more
5:18 than the stuff inside of it, right? Because you can change how many people
5:23 want your lead magnet by 2, three, 10x simply changing the headline of your
5:27 lead magnet itself rather than changing any of the contents. And so provided the
5:30 contents do clearly solve a problem for the person, it's really just about how
5:33 we package it so that they want it. So here's why lead magnets work. So if you
5:36 ever been to Costco, right, why do they have all these food samplers at the end
5:40 of every aisle, right? On one level, you could say there's some level of
5:43 reciprocity, but you know, I think I don't know if that's the main reason
5:46 people then go buy after they have a piece of teriyak chicken. It's because
5:50 they try it and they're like, "That's good. Maybe I'll have more of that." And
5:54 so there's a number of different types of lead magnets that you can employ that
5:59 where you give someone a tester is a small piece of something that's much
6:03 bigger. It's a sample or a trial, right? That's category one. Category two would
6:09 be a one step in a multi-step process, right? So if I say, "Hey, we're going to
6:12 turn your style around like Ashley does." Well, the first thing you're
6:15 going to need in that process is going to be like some colors that we can say
6:18 these go well with you. And so that's the first thing. But once you have the
6:21 colors, you're like, "Okay, but I don't know what tops and bottoms and how do I
6:25 do formally and informally." It's like you're going to have other problems that
6:27 are come after that. So you just solve this very specific problem that then
6:31 leads to other problems. Or the third is what I would just consider the
6:35 assessment, the revealing of a problem, right? And the the easiest example I can
6:39 think of is, hey, free website speed test and someone does the test and they
6:43 realize that their website speed is slow, in which case your core offer is
6:48 how to fix it, right? And so any of these three things or combinations of
6:52 them can be a really effective lead magnet. So what we're changing is going
6:56 from asking, "Hey, just buy my thing," to, "Do you want this free thing?" And
7:00 so then once they've consumed it, you can just say, "Hey, did you like the
7:04 free thing?" Then if you did, you're going to love this paid thing because
7:08 now you have their contact info. And the main reason that this works is because
7:12 when someone pays with time now, they're more likely to pay with money later. And
7:16 so we want them to invest, but we just want to make them have an easier
7:19 investment first, a lower barrier investment, so that increases the
7:21 likelihood they make a higher investment later. And again, for those of you who
7:27 are like, man, lead magnets don't work. No, they do. They they totally do. Bad
7:33 lead magnets don't work. And the problem is when you're starting out, you just
7:38 don't know that you suck. And so then you think this didn't work. So kind of
7:41 like the example I gave with webinars. Webinars totally work. It was just I
7:44 didn't have the skill to make a webinar work. I had the skill to make a lead
7:48 magnet. And so much easier skill to just say, "Hey, let me screen record and show
7:50 you how I ran this campaign and these are the results." Very straight. It was
7:54 not very difficult for me to do trying to figure out this magical box of like
7:57 how do I get these people to show and then how do I do this whole razledazzle
8:00 to get someone to take out their credit card and buy the I was like, "Oh my god,
8:02 this is impossible." But just getting someone to opt in so I can just call
8:05 them up and say, "Hey, how'd you like that thing? Do you want me to do that
8:08 thing at your place and I'll give you a risk-free offer so if I don't perform,
8:11 you don't have to pay?" Not that tough, right? At least significantly easier
8:15 than what I was trying before. And so you're like, "Okay, well maybe maybe
8:19 you're half half sold on this." Because right now, if you don't have one of
8:22 these, you were making less money than you otherwise could. And you're making
8:24 less money than you otherwise could because you're getting fewer leads than
8:27 you otherwise could get. Now, some of you might be like, "Well, I don't want
8:31 freebie seekers and tire kickers." Okay. Well, guess what? You don't have to give
8:35 the lead mags to everybody. You can only give to people who are qualified. Crazy.
8:39 You just add a drop down that makes somebody qualified and then redirect the
8:43 people who are qualified to the good thing and direct people who are not
8:46 qualified to the other thing that might they might be qualified for. What other
8:49 objections would you have around this? Well, yeah, I don't want freebie
8:52 seekers. Well, we can qualify the leads. Duh. Well, I don't want to give away too
8:58 much value. This is a real thing. Sort of. So, we don't want to give away We
9:03 don't want to solve the problem our core product solves with the free thing. That
9:09 should seem obvious, but we do absolutely want to solve a problem that
9:14 leads to our core issue. Basically, we want to make sure that the person is
9:19 deprived of the thing that we sell and that that deprivation is triggered by
9:23 solving the first issue. Now, that sounds super complicated, but if you go
9:28 to a restaurant and eat a big entree, and then after you eat the entree, they
9:30 say, "Hey, do you want another entree?" You might say no. Not because the first
9:34 thing was bad, but because you already satisfied that need. And so what you
9:38 might not have satisfied was your dessert, you know, desire. And so at
9:42 that point, they could sell you the dessert. Now, in a business, we would
9:44 just want the dessert to be significantly more expensive than the
9:47 entree. And the entree would be able to give away for free or at cost. And so
9:52 that's the the the big misunderstanding that people have is you want to sell at
9:56 the point of greatest deprivation. When someone hasn't drank water in a while,
9:59 that's when you want to sell them the water. But the moment after you give
10:03 them the water is not has no indication of whether your water was good or not.
10:07 They're just not thirsty anymore. But maybe after they're thirsty, they want
10:11 some food. And so at that point, you would then sell the food. So you might
10:14 be thinking, "All right, I get it." And you know, give away something up front
10:18 and hope that people will likely buy after. Got it. But what do I actually
10:21 give away? So I I briefly touched on those three. Let's dive into them in
10:24 more detail so you can actually do this. All right. So type one is reveal a
10:29 problem. All right. I personally love these type of lead magnets. Like if you
10:33 ever have the opportunity to build one of these for your business, like
10:36 exceptional. It literally creates deprivation, right? So you just say,
10:40 "Hey, here's a problem that you didn't know existed or you knew it existed. Let
10:44 me tell you how bad it is." Right? And so just immediately you just increase
10:48 the deprivation of where they are versus where they could be. Now, bonus points
10:51 for not only saying you have a problem, but also saying this is what it could
10:56 look like if you had it solved and here's the delta. And so I my favorite
11:01 B2B example is the the website example I gave, which is, you know, if I'm
11:04 offering free, you know, free website speed tests to business owners and they
11:08 didn't know their site was slow and then I say, "Hey, on average for every second
11:12 of load time, you lose 3% of your conversion." And so, right now, we know
11:15 that our services could take you from a 9-second load time to a 3second load
11:20 time. That's 18% increase. So what could you do with an increase of 18% of your
11:22 business? They might be like, "A lot." And I'd be like, "Now relative to your
11:26 revenue, the 18% increase compared to what I'm charging for websites is
11:29 nothing. How soon do you want me to start?" And so this works great for
11:33 problems that get worse while waiting, right? Posture analysis, right? If
11:37 you're like, "Oh man, your posture's bad, but it's only going to get worse."
11:40 Right? Termite inspections, like they're already active, but it's only going to
11:43 get worse. Financial audits, hey, your your back on taxes or your cash flow is
11:47 bad. it's only going to get worse, right? Is that you want to have things
11:50 because that builds in urgency. So that deprivation actually increases with
11:53 every second after they find out. I'll give you an example. So one of my
11:57 highest converting ads of all time for Allen, our software company, was four
12:01 reasons why you'll never have a million-doll agency. And what was crazy
12:05 about that is just increased deprivation for the outcome that most of the people
12:07 wanted, who we were selling to, which were small SMB lead genen agencies. And
12:12 so once we listed out the reasons, many of them were like, shoot, all four of
12:15 these reasons I'm also suffering from. And so if you can be very clear about
12:18 the reasons that they're not going to achieve it, they also will assume that
12:20 you can help them solve it, which hopefully you can. And so you're going
12:24 to be incredibly specific on the negatives and then what that allows you
12:27 to do is be significantly vagger on the positives, which allows you to market
12:30 more compliantly, but also set more realistic expectations. If I can
12:34 perfectly nail all the problems in your life and you're like, "Oh my god, this
12:37 is me. I can just and I and I just said, I can help you with that." You'd
12:40 probably be like, "Yeah, I believe you." Right? rather than trying to increase
12:43 and promise and set these crazy expectations, just nail someone where
12:47 they're at. And so that's why the reveal a problem is so important because one,
12:51 they it exacerbates the existing problem and two, you just show how much it's
12:54 going to continue to increase and they will lose over time. The second is a
12:58 free trial. All right, this is the this is the classic taste test. This is the
13:03 classic try before you buy. All right, now this is as old as time and I think
13:06 that there are there are better and worse ways to do this. My this is the
13:09 Costco sampler. This is the teriyak chicken. This is the the trying room if
13:13 you will at the clothing store. So many businesses have free trials and they do
13:17 that because they're the lowest barrier. Like are you going to want it? And so
13:20 what we actually have to do here and this is where it gets a little bit
13:25 interesting is that we want to give them something and then basically have a full
13:30 loop to the end of the trial where they will be deprived if we remove it. So,
13:34 it's almost like, hey, let me like, let's say we take a normal person and we
13:38 say, hey, [clears throat] here's crack cocaine, right? All of a sudden, they
13:42 might not have had deprivation around crack cocaine, but let's say they try
13:46 crack cocaine. And then as soon as you remove crack cocaine, all of a sudden
13:50 they want crack cocaine. And let's see how many times I can say crack cocaine.
13:54 All right? And so the point here is that the free trial just makes the barrier so
14:00 low that people can try something and then the idea of us removing it is what
14:06 then gets them to convert. So it's like we we we give them the solution and then
14:10 take the solution away in order to create the deprivation to get them to
14:13 buy. And so typically here you're going to be limiting some aspect of the the
14:17 product or service. you're going to limit the number of uses, the the
14:22 quantity, the time, or some combination of those. So, it's a x day trial, or you
14:27 get this number of hits, if you will. And all of those things kind of
14:30 combined, and sometimes you can combine them together to make it even more
14:32 compelling. So, when we own gym launch, one of the things that we would do in
14:35 order to get people to basically roll into our higher level services is that
14:39 they would, you know, basically buy the system that we had for monetization,
14:41 which is how to make the gym more profitable. But then along that time,
14:44 we'd say, "Hey, we'll actually give you agency services for free for four
14:47 months." And then after that fourmonth period, once they were kind of like,
14:50 "Okay, wow, this is great. I get these leads and I have a system for monetizing
14:53 them." After that point in time, you're like, "Well, I still want leads." And
14:57 we'd be like, "Yeah, but now you can pay for them, right?" And so it's basically
15:00 a built-in upsell on the back end because they'd had four months of
15:03 getting used to having these leads just dropped into their doorstep. And so that
15:06 created the deprivation where at the end they're like, "Well, I want that to keep
15:10 happening." Right? So that's the second one. The third one is one of my
15:15 favorites personally, which is the one step of many, right? One step of a multi-step
15:23 process. And so, this is particularly effective when you have more complex
15:26 products and services. All right? And so, you know, the classic example is
15:29 like if you have multiple coats of paint that you're going to be putting on on a
15:32 garage, you could sell the first one. It's like, well, you're going to need
15:34 these other ones, right? A classic one would be like if you're doing hair
15:38 removal for like laser hair, right? For for, you know, a med spa. It's like,
15:41 well, it takes six to eight sessions to actually get completely removed. And so
15:45 you doing one session is kind of worthless on its own. So when someone
15:48 comes in, they come in for one and you upsell the rest of them, right? If you
15:52 give the first two videos away in a comprehensive course, those are things
15:55 that would also function the same way. One step of many, right? And so
16:00 hopefully now you know what a lead magnet is, why it's important, and the
16:03 three types of lead magnets that work. And so now, how do you actually deliver
16:06 it? And so there's four ways to deliver a lead magnet. So number one is software
16:13 or tools, right? You give them a tool that they can use to get that that does
16:17 a job for them, right? And so examples of these are like spreadsheets that
16:20 calculate things, assessment tools, templates, or just like software itself.
16:25 So I'll give you a good example. So Neil Patel has a really awesome one on his
16:28 site where he basically has a little tool that you put in your URL and then
16:32 it tells you, you know, it does a little assessment of the site based on the URL
16:35 that you give it, right? It's a little tool and then obviously on the back end
16:39 it can collect your information, right? And so there's tons of these examples,
16:42 but that is one of the most classic ones. So if you have ways that you can
16:44 say, "Hey, you're going to be in one of these four categories once you answer
16:47 these this information." You want some sort of tool that that can assess or
16:51 give them some sort of answer to a question, right? Or does a job for them.
16:55 All of these things are ways to fulfill the other three things. Like you can use
16:57 software to reveal a problem, you can use software to do a free trial, or you
17:01 can use software to be one step of many. All of those things work. Now the second
17:06 is information. All right. Now this is a very classic one and it's because it
17:09 costs nothing to do and can also be very valuable. This is where I think
17:12 information is really exceptional as a lead magnet is because it's infinitely
17:16 scalable. It provides tremendous value. You can create deprivation and there's
17:19 basically no operational drag to do it. Fundamentally all we're doing is
17:21 teaching them something valuable. And so examples of this would be like mini
17:25 courses, guides, interviews with experts and again templates but that are not
17:29 dynamic templates that just work, right? And so I'll give you my classic example
17:33 here is my scaling road map. So this is maybe a combination of the tool and the
17:38 information. So you go through the tool and then it gives you the assessment
17:40 which will then be information. But again, these are not static concepts
17:44 like you can combine them. And so for example, if you would like to figure out
17:48 what stage of scaling you're currently at, the problems you're dealing with
17:51 right now, and exactly how to solve them, we created this $100 million
17:54 scaling road map after studying all the businesses that we looked at for 200
17:57 plus hours to find those common themes. This is my free gift to you. You can
18:01 enter information and if you want my team to actually look at your business,
18:05 you can book a one-on-one call where we will help. [laughter]
18:08 We will help and then we'll invite you out here if it makes sense for you to
18:12 come out to our headquarters. So, you can go through mine as an example. And I
18:15 think it's pretty good. Isn't that pretty good? It's [ __ ] awesome and we
18:18 spent a really long time on it and you will get a lot of value from it. So,
18:21 with that being said, that leads me to the third way of delivering this is
18:25 services. Now, I think this people sleep on this so hard, right? From a lead mag
18:30 perspective, do work for free. Create lots of goodwill. People again get
18:33 really bent out of shape on this free services one because they're like, I
18:35 don't want to do work for free. All these freebie seekers. Again, only do
18:39 the free work for people who are qualified. That's it. So, let me ask you
18:43 something different. I want you to imagine in your head your perfect lead,
18:47 right? The perfect c, you know, perfect type of customer. It's like they'd have
18:49 they'd have the budget, right? They have the authority to make the decision. They
18:52 clearly need it and they want to act now, right? Well, if you just only give
18:55 the services away to people who agree to those things up front, that's probably a
18:59 good idea. What's not a good idea is giving it to somebody who's broke, who
19:01 can't make a decision, doesn't really need it, and is kind of like not sure if
19:05 they want to do it now or not, probably a terrible waste of your time. So, all
19:09 of these things, you want to use them, just use them for the right prospects.
19:13 And so, this is where free audits with some level of implementation, same day
19:17 service delivery, done some any sort of done for you component. And the way that
19:19 you have to think about this, I'll give you some math mind it. So, let's say it
19:24 cost you one hour of labor, right? They actually pay somebody else to do in
19:28 order to give something valuable away. Now, let's say that $25 is your hard
19:31 cost, but what people would realistically charge for this, and this
19:34 happens all the time in services, is you you could probably charge $250 plus for
19:39 something like this. Not a bad like pretty decent offer. $250 bucks for free
19:44 where there's real service, real person does work. That's fairly compelling.
19:48 Now, let's say that we get one out of four of these people who you give this
19:53 $250 thing away for to do it. Well, what does that mean? Our cost to acquire a
19:59 customer is 25 time four. And so, would we be willing to give away a lead magnet
20:03 to four people to get one to buy? Would I be willing to pay $100 to get a
20:06 customer? Well, provided I'm making a lot more than $100 in the customer,
20:11 probably. So, not a bad idea. And so for my very first business, to give you an
20:16 idea, I trained people for free for a year. I called it the free training
20:19 project. And I did that because I wanted to get a bunch of testimonials. And then
20:22 once I got a bunch of testimonials, then I showed the world the testimonials.
20:24 More people did it. And they did in exchange for money. In fact, it worked
20:28 so well that after the year of time that I worked with those people for free, I
20:32 said, "Hey, I have too much demand. Do you want to pay me now?" And almost all
20:36 of them said yes. That's what's like people were like, "Oh, they're all
20:39 freebie seekers." like no they actually they were all happy to pay and that was
20:44 that right? So don't get like if you get the if you get the right people they
20:48 will continue to stay and pay provided you do a good job. So that leads me to
20:52 my fourth uh fourth way to deliver a lead magnet which is physical right physical
20:58 products. And what's interesting again here is that you can combine these
21:00 things. So what do you think what do you think these books are? These are lead
21:04 magnets, right? Fundamentally, now obviously they're incredibly valuable.
21:07 And after you solve your offer problem and you make something that way more
21:09 people want to buy and then you make more money, what are you going to want?
21:11 You're going to want to figure out ways to advertise that and get even more
21:15 people to find out about it. And if anytime you're like, "Hey, I would love
21:18 help to just speed this process." You can call us, right? And if you're like,
21:22 "Hey, I've done all of your stuff and I went from, you know, 1 million to 50
21:25 million a year. I'd love to in, you know, have you guys invest with us and
21:28 partner, then that's why we do all this stuff, right? It's a very long game."
21:32 And so you can absolutely have something that's a physical product and
21:35 information, right? Or the scaling road map is software plus information, right?
21:40 You can combine these as many times as you want, but these are fundamentally
21:42 kind of the categories that I think are when I'm like, okay, I get what I want
21:46 to do now. How am I going to do it? But I'll give you a completely different
21:52 example. So if you wanted to give away, let's say you go to a conference and you
21:56 give a hat away to anyone that says that they're a CEO, that says CEO, right? CEO
22:02 is pretty e, you know, ego driven or a shirt that says CEO with lots of O's and
22:06 zero dollar signs afterwards. A lot of people would do that. It's like, hey,
22:07 but in order to get the shirt, you got to prove that you're CEO. So now I get
22:11 an incredibly qualified list of CEOs that I gave a physical product to,
22:15 right? And so the idea here is like just think what would somebody who is the
22:19 type of person that I'm looking for want and then can I just give that to them?
22:22 And how much does it cost me for a t-shirt? Three bucks, four bucks, fine.
22:26 And maybe maybe I convert only one out of 20 of those. $100 for a CEO feels
22:30 like a good idea. So once we figure out what problem it solves, four ways to
22:34 deliver that thing. The next is how are we going to name it? So this one is so
22:38 slept on. People underestimate the value of this by a mile. And so I'm going to
22:42 have you not underestimate it and appropriately value this, which is name
22:51 And I'm going to tell you the real secret to this. You ask your audience. All right? So,
22:57 this might seem minor to you, but it's massive. Right? How you how you name
23:01 your lead magnet will determine your engagement rate more than anything else.
23:04 Right? When I ran my first gym, I had something called my big booty boot camp.
23:08 Right? Now, why would I call it that? Because six week deadlift and squat
23:12 seminar doesn't really convert with chicks, who was my primary audience at
23:17 the time, right? And so, again, was it the same thing? Yes. All I did was
23:20 deadlift, squat, and hip thrust. Like that was that was primarily what I did
23:24 over that six week period for them and taught them as main moves. But if I had
23:27 made my marketing about that, they'd have been like, "Yeah." But if I said,
23:30 "Hey, who wants big beautiful round glutes?" They were like, "I do." And I'm
23:34 like, "Cool. This is just the way we're going to get you there." Like, I'm not
23:37 going to advertise the vehicle. I'm going to advertise the result. And so
23:40 now big booty boot camp might have been something that attracted a certain type
23:44 of woman. If I said tight and toned booty, tight and toned glutes before I
23:48 said bubble butt, right? Bubble Butt Boot Camp that might have attracted a
23:51 different person. The thing is is that you can just test these names out so you
23:54 can figure out which one not only attracts the most leads but ideally the
23:57 highest quality leads. And so this is how I actually test them. So I get super
24:03 clear on who my avatar is and then I run small ad tests comparing the headlines.
24:06 Now if you don't have the capital for that or the money, you can just pull
24:10 your audience. So if you have a hundred people who follow you, you can put it in
24:13 your stories and say, "Hey, help me out here. I'm trying to name my lead magnet.
24:15 Let me know which one sounds better for you." Now again, you want only the
24:19 people who are the type of person that you're advertising to to respond. So you
24:23 could say before you introduce it, by the way, if you're not a business owner,
24:27 please don't answer. If you're like, I I don't even have an audience. Don't
24:30 worry, I got you. The next thing you can do is just open up your phone and then
24:34 you use this amazing device and then you text. So you just text people and you
24:38 say, "Hey, which one do you want?" Or you just make a post and say, "Hey,
24:42 comment A or B underneath of it." Right? There's all these different ways that
24:44 you can do it. And maybe you combine two or three of those ways in order to get a
24:48 close enough directional response. This book, $100 million leads, I split test
24:54 six different headlines for this to get $und00 million leads because I looked at
24:58 advertising. I looked at promotion, I looked at marketing, and here's the cool
25:01 part. I actually show the results of the test inside the book. So, I split test
25:04 the names, I split tested the image that I was going to use, and on top of that,
25:08 I split test the sub headlines. And so, I I did that because I want to make sure
25:12 it's going to be a winner out the bat. If I'm going to spend two years writing
25:15 the book, I can spend two days testing the headline, which is sadly going to
25:20 influence how many people buy it more than anything with one caveat in the
25:24 short term. In the long term, it's the stuff between both of the the front and
25:28 back cover that's going to be the thing that does it over the long term because
25:31 word of mouth, especially in in the book world, is really the only thing that
25:35 matters long term. Anyone can launch a book. Very pe few people can launch a
25:38 book that continues to sell. So, I'll give you a few naming conventions that
25:42 work well. So number one is number plus outcome plus time frame. So that'd be
25:46 like three emails that can turn cold leads into clients in 24 hours. All
25:50 right. The second would be something like how to do X or how to yay without
25:54 boo if you greatest insecurity. So yay means good thing, boo means bad thing,
26:00 right? So how to build a funnel without hiring copyriter even if you've never
26:04 done it before, right? Or even if this is your first time. Next would be you
26:09 know the adjective type that good thing, right? So, the lazy funnel template that
26:13 converts like crazy. The next one would be X mistakes. Now, there's a bunch of
26:16 different ways you can do this one. I gave an example of it earlier, like
26:18 four, you know, four mistakes that are keeping your business under a million
26:21 dollars a year. It works great. But another version of this could be like
26:24 three mistakes you're probably making, five ad copy mistakes that are killing
26:28 your conversion rate. Just put X mistakes that Good thing. Cool. See, they're killing your PTR,
26:39 it's killing your business, it's preventing you from getting this goal,
26:42 whatever it is, is like these are the mistakes that keep people broke. So, now
26:45 that you have a lead magnet, you know the objective, you know how to deliver
26:48 it, and you know how to name it. The last step is how do you make money with
26:52 it. So, now you just got to ask them to buy. And so, this is where most people
26:55 fail, right? They create the great lead magnet, but then they forget the call to
26:58 action, right? So, what do you want people to do after they consume your
27:02 lead magnet? And so, the the formula for for call to actions is so simple. The
27:05 only thing simpler is not doing it, which is what most people do. And not
27:08 only do they not do it, they don't do it often enough. So even if they do it
27:11 once, they forget to do it again and again and again. And I'll give you a fun
27:14 little stat that they found about sales people is that the sales people who ask
27:18 the most times get the most deals. And so in your marketing, you want to ask as
27:22 many times as you can. Here's the caveat. How do you ask so many times
27:26 without turning someone off, right? Because if all you do is ask, then
27:29 eventually they're like, you don't have the opport they'll they'll stop giving
27:31 you the opportunity to ask. So you want to maximize your ability to ask times
27:36 the amount of times you ask. And so maximizing your ability to ask means
27:39 that you're continually providing value between your asks. And so you need to
27:43 increase your value per second so that people are like, I'm willing to hear
27:46 this ask because I just got value and I will probably get value after this. The
27:50 formula for CTA is very straightforward. Number one is you want it to be clear,
27:55 not clever. Be very clear. This is exactly want what I want you to do.
28:00 Clear direct CTA. then exact next action and then three reason
28:16 to do now. In all CTAs, you can still use scarcity, urgency, or both in order
28:21 to incentivize someone to act. Now, now I'll be straight with you. It's great if
28:26 you've got it, but if you don't have scarcity urgency, you just at least want
28:29 to make the CTA. So, I'll give you a simple example. So, I have within this
28:34 book or all the books. All right, turn to a magic page. How about that? At the
28:37 end of every chapter, I have right here a CTA, free gift, everything I learned
28:42 from XYZ. And then they click that or you can click that and you go to my site
28:46 acquisition.com where you can watch more stuff about that. But on my site, you're
28:50 getting one step closer to becoming a portfolio company. We're coming out for
28:54 for for a workshop that we have every month. You could do any of those things,
28:57 right? But we want to start walking them down the process. And so I will give you
29:02 a little tidbit on number three is that the reason you can always have the
29:06 urgency is just an additional great reason to do it now or the scarcity is
29:10 an additional great reason. But having any reason is better than no reason at
29:14 all. Right? So there's tons of, you know, research on this, but like people
29:17 were trying to cut in line at a university and they said, "Hey, can I
29:20 cut you?" And people were like, "No." If you said, "Hey, can I cut you because
29:23 I'm late for class?" People would say yes. If they said, "Hey, can I cut you
29:27 because I have a dog?" People would still say yes. Even though it made no
29:33 sense, wild. So, we want to use that same logic to get more people to respond
29:36 to our thing. Ideally, we want the reason to make sense. But even if it
29:39 doesn't make sense, it'll still work better than no sense. So, it's my
29:43 one-year anniversary of being in business, and this is the promotion, so
29:45 do this thing. Hey, my daughter just lost her first tooth, so I'm running a
29:49 promotion here. Go get this thing. Hey, it's National Dog Day. If you have a
29:52 dog, you should do this more than anybody else. It doesn't matter, right?
29:55 So, I'll give you an example. If you were in the fitness industry, obviously
29:58 I came from there. If you're a fitness coach and you only have like so many
30:03 spots, which you probably do, then tell people that they have to sign up now or
30:08 they'll have to wait for until the next spots open up, right? And so, here's the
30:11 cool thing about anything that's a service business. So, this is unique to
30:15 service, but 78% of businesses are service, so this probably applies to
30:18 you, which is that you do not have unlimited capacity. If I said, "Okay,
30:21 can you take a,000 customers tomorrow?" you're probably saying no. So you do
30:25 actually have a capacity limit. It might be four, right? If four more customers
30:30 will get you to capacity, then say so because the thing is is that you assume
30:33 that they know how big your business is and they don't. So if you're a small
30:37 business, leverage that so that you have scarcity based on your existing small
30:40 constraints. And if you're a big business, you're like, well, I don't I
30:43 have, you know, I have a huge amount of capacity. Then what you can do is you
30:47 can have cohorts that roll. So you can say, hey, I can only start this many
30:51 people per week. and then you still back into some sort of capacity or if you
30:54 want to get into this group of people, you should do it this Friday. And so
30:58 what do we do here? How do we how do we how do we operationalize this? So one is
31:01 we give value first, which is the whole spirit of the lead magnet. Now we give
31:06 value by revealing a problem, giving a free trial or giving them one step of
31:10 many. We then have four ways to deliver that magnet which is software,
31:13 information, services, physical products or combinations of those. We name it in
31:18 a compelling way, which you can use any of these for, or just ask your audience
31:21 what they would find interesting, which is a great way to test this. And then
31:25 finally, make sure that you embed CTAs within your lead magnet and before and
31:29 after lead magnet so that you increase
