Full transcript
0:00What if I told you there were a way that
0:01you could get more leads than you're
0:03currently [music] getting? Sell more of
0:04those leads overall without increasing
0:07any of your advertising at all. I'm
0:09Alexi. I own acquisition.com. It's a
0:11portfolio of companies that last year
0:12did over $250 million in aggregate
0:14revenue. And [music] the strategy I'm
0:16going to share is something that most
0:17businesses don't do and the few
0:19businesses that do it do it wrong. And
0:21so most people send traffic to their
0:22website [music] and immediately ask
0:23people to buy something or just like
0:25submit for a quote. But here's the
0:27problem. I'm like, most visitors aren't
0:28ready to buy yet and so they just leave
0:30and they never come back. I mean, if you
0:32think about it for you, I often don't go
0:34to sites that I'm just just finding out
0:36about where it says submit for quote.
0:37I'm just like, ah, that's a lot, right?
0:41And so, what I'm about to show you has
0:42generated many millions of dollars
0:45across our portfolio companies and I've
0:46used it in every business we've invested
0:48in and ones that I haven't invested in.
0:51And so, in this video, I'm going to show
0:52you what it is, why it matters, and how
0:54to implement in your business. So, what
0:56is it? A few months back, I did a deep
0:58dive with Ashley, who is a fashion
1:00personal stylist, right? And so, when we
1:03went to her site, she had the classic,
1:05you know, just book a call, right? CTA
1:07or just ask for a quote. But the thing
1:10is is that that really only works if you
1:13already have an informed audience. So,
1:15if people already know who you are,
1:16they've already gotten value from you,
1:18then you can for sure just say, "Hey,
1:20come buy my thing or come find out
1:21more." Right? But if you're sending
1:23traffic there and you don't have as much
1:25traffic or it's not as warm, then you
1:27want to have something that is a better
1:30reason for them to give their contact
1:31information. Because if you think about
1:32like what is the objective of submit for
1:35a quote or book a call, the only
1:38objective of that step is to capture
1:39their contact information and then if
1:42you have a booking to get them to book
1:43automatically, but fundamentally it's a
1:45lead capture objective. We should then
1:46ask ourselves, well, is there anything
1:48else we could do that would increase the
1:50likelihood that we would capture the
1:51lead as long as the way that we're
1:54capturing the lead indicates that they'd
1:56be interested in buying our stuff. To be
1:59clear, what I'm suggesting is that you
2:01offer something kind of like a mini
2:02offer that's a complete solution to a
2:05narrow problem. And so, it's typically
2:07lower cost or free just to see who's
2:09interested and raises their hand, right?
2:12And then once you solve the problem,
2:13once that little mini offer solves it,
2:15it reveals another problem that's solved
2:17by your core offer. And this is
2:19important because leads interested in
2:21lowerc cost or free offers now are more
2:24likely to buy a related higher cost
2:26offer later. And if that sounded really
2:29well said, it's because I wrote it ahead
2:31of time on page 31 in the leads book. I
2:34talk about this concept in the book at
2:36length. And it's because so many
2:37businesses lack this. And I think part
2:39of it is because you can show that you
2:41have success if you just say, "Hey, come
2:42buy my thing." But if you want to
2:46dramatically increase the number of
2:48customers that you have access to, then
2:51if you have, like I said, you know,
2:52let's say you have 10 people that you
2:54say, "Hey," or let's say 100 people. So
2:56you have 100 people and you say, "Hey,
2:58come buy my thing." Right? Maybe you get
2:59one of those people to raise their hand
3:01and say, "Yay, you can I'll give you
3:03money. Here's my big bag of money. Yay."
3:05Right? I'll do that. But if we have
3:07those same hundred people and we say,
3:09"Hey, you don't have to buy anything. I
3:11just want to help you out." And then
3:12after we help them out, we say, "Hey,
3:14now do you want to buy something?" Then
3:16all of a sudden, we're going to get that
3:17many people with our little money sign,
3:20but we might get three to five times
3:22that amount of people. And that's where
3:24the real magic is. And so the beauty of
3:26this is that you're actually not going
3:28to get more traffic. You're just going
3:29to convert a higher percentage of it.
3:31And this is why it's such an easy
3:32strategy for businesses to do. And you
3:34can do it immediately. you don't have to
3:35spend any more money on marketing. It
3:36literally just drops to your bottom
3:38line. Like if you improve conversion,
3:39you just make more money. So, let me
3:40tell you the first time I had this big
3:41breakthrough for myself. So, in April of
3:432016, I paid, you know, $25,000 to be in
3:47this group and everybody there told me
3:48to do a webinar. And I did a webinar and
3:50it didn't work. Now, to be clear, so
3:52let's say that webinars didn't work. I
3:53didn't have the skill at the time to do
3:54one. And so, I saw this dude just
3:57scrolling on my on my feed that said
3:59free case study on how I spent $1 and
4:01made $120,000 in a weekend. Right? So, I
4:03saw this case study and I was like,
4:05"Huh?" And so when I when I opted in and
4:07watched it, the guy just did a screen
4:09recording of like how he did it. And I
4:10was like, "Well, that's pretty cool." I
4:12was like, "I could do that, right?" And
4:13so I swapped out my webinar for just a
4:16video with a headline that said, "Free
4:17case study, how we added 213 members to
4:19a gym and $112,000 in San Diego, right?
4:23To a small gym in San Diego." And as
4:25soon as I did that, the next morning,
4:27Ila asked me, she's like, "What did you
4:28do?" And I was like, "What? What
4:29happened?" And she was like, "My
4:31calendar's full." I was like, "Really?"
4:33My lesson on that was like, cuz a
4:35webinar could be perceived as a lead
4:37magnet depending on how it's positioned.
4:39The thing is is that the more advanced
4:41your audience, the more they'll probably
4:42understand it's a sales pitch. So, the
4:44less likely it's to convert to a more
4:45business owner audience or more
4:47sophisticated audience. But when I just
4:48said, "Hey, here's this thing. Consume
4:50it on your own time. Let me just show
4:51you what I did." A lot of people were
4:53really interested in that. And they were
4:54way more willing to exchange their
4:56contact information. And so, even if,
4:58for example, you say, "You know what? I
4:59am going to give up, you know, a little
5:01a little lead magnet, if you will, on
5:02the front end. If it doesn't work, it
5:03doesn't mean lead mags don't work. It
5:05just means that that lead magnet didn't
5:06work. Just like the headline for an ad,
5:07it doesn't mean ads don't work. It just
5:09means that that ad didn't work. And so,
5:10this is why I'm actually so adamant
5:12about testing the wrapping or the
5:13packaging of a lead magnet even more
5:15than the stuff inside of it, right?
5:18Because you can change how many people
5:20want your lead magnet by 2, three, 10x
5:23simply changing the headline of your
5:25lead magnet itself rather than changing
5:27any of the contents. And so provided the
5:28contents do clearly solve a problem for
5:30the person, it's really just about how
5:31we package it so that they want it. So
5:33here's why lead magnets work. So if you
5:34ever been to Costco, right, why do they
5:36have all these food samplers at the end
5:38of every aisle, right? On one level, you
5:40could say there's some level of
5:40reciprocity, but you know, I think I
5:43don't know if that's the main reason
5:45people then go buy after they have a
5:46piece of teriyak chicken. It's because
5:48they try it and they're like, "That's
5:50good. Maybe I'll have more of that." And
5:52so there's a number of different types
5:54of lead magnets that you can employ that
5:56where you give someone a tester is a
5:59small piece of something that's much
6:00bigger. It's a sample or a trial, right?
6:03That's category one. Category two would
6:06be a one step in a multi-step process,
6:08right? So if I say, "Hey, we're going to
6:10turn your style around like Ashley
6:12does." Well, the first thing you're
6:14going to need in that process is going
6:15to be like some colors that we can say
6:16these go well with you. And so that's
6:18the first thing. But once you have the
6:19colors, you're like, "Okay, but I don't
6:21know what tops and bottoms and how do I
6:23do formally and informally." It's like
6:25you're going to have other problems that
6:26are come after that. So you just solve
6:27this very specific problem that then
6:29leads to other problems. Or the third is
6:31what I would just consider the
6:32assessment, the revealing of a problem,
6:34right? And the the easiest example I can
6:37think of is, hey, free website speed
6:39test and someone does the test and they
6:41realize that their website speed is
6:43slow, in which case your core offer is
6:45how to fix it, right? And so any of
6:48these three things or combinations of
6:50them can be a really effective lead
6:52magnet. So what we're changing is going
6:54from asking, "Hey, just buy my thing,"
6:56to, "Do you want this free thing?" And
6:58so then once they've consumed it, you
7:00can just say, "Hey, did you like the
7:02free thing?" Then if you did, you're
7:04going to love this paid thing because
7:06now you have their contact info. And the
7:08main reason that this works is because
7:09when someone pays with time now, they're
7:12more likely to pay with money later. And
7:14so we want them to invest, but we just
7:16want to make them have an easier
7:17investment first, a lower barrier
7:19investment, so that increases the
7:20likelihood they make a higher investment
7:21later. And again, for those of you who
7:24are like, man, lead magnets don't work.
7:27No, they do. They they totally do. Bad
7:30lead magnets don't work. And the problem
7:33is when you're starting out, you just
7:36don't know that you suck. And so then
7:38you think this didn't work. So kind of
7:39like the example I gave with webinars.
7:41Webinars totally work. It was just I
7:43didn't have the skill to make a webinar
7:44work. I had the skill to make a lead
7:45magnet. And so much easier skill to just
7:48say, "Hey, let me screen record and show
7:49you how I ran this campaign and these
7:50are the results." Very straight. It was
7:52not very difficult for me to do trying
7:54to figure out this magical box of like
7:56how do I get these people to show and
7:57then how do I do this whole razledazzle
7:58to get someone to take out their credit
8:00card and buy the I was like, "Oh my god,
8:01this is impossible." But just getting
8:02someone to opt in so I can just call
8:03them up and say, "Hey, how'd you like
8:05that thing? Do you want me to do that
8:06thing at your place and I'll give you a
8:08risk-free offer so if I don't perform,
8:09you don't have to pay?" Not that tough,
8:11right? At least significantly easier
8:13than what I was trying before. And so
8:15you're like, "Okay, well maybe maybe
8:17you're half half sold on this." Because
8:19right now, if you don't have one of
8:20these, you were making less money than
8:22you otherwise could. And you're making
8:23less money than you otherwise could
8:24because you're getting fewer leads than
8:26you otherwise could get. Now, some of
8:27you might be like, "Well, I don't want
8:29freebie seekers and tire kickers." Okay.
8:31Well, guess what? You don't have to give
8:33the lead mags to everybody. You can only
8:35give to people who are qualified. Crazy.
8:37You just add a drop down that makes
8:39somebody qualified and then redirect the
8:41people who are qualified to the good
8:43thing and direct people who are not
8:45qualified to the other thing that might
8:46they might be qualified for. What other
8:48objections would you have around this?
8:49Well, yeah, I don't want freebie
8:50seekers. Well, we can qualify the leads.
8:52Duh. Well, I don't want to give away too
8:55much value. This is a real thing. Sort
8:58of. So, we don't want to give away We
9:01don't want to solve the problem our core
9:03product solves with the free thing. That
9:06should seem obvious, but we do
9:09absolutely want to solve a problem that
9:12leads to our core issue. Basically, we
9:14want to make sure that the person is
9:16deprived of the thing that we sell and
9:19that that deprivation is triggered by
9:21solving the first issue. Now, that
9:23sounds super complicated, but if you go
9:25to a restaurant and eat a big entree,
9:28and then after you eat the entree, they
9:29say, "Hey, do you want another entree?"
9:30You might say no. Not because the first
9:33thing was bad, but because you already
9:34satisfied that need. And so what you
9:37might not have satisfied was your
9:38dessert, you know, desire. And so at
9:40that point, they could sell you the
9:42dessert. Now, in a business, we would
9:43just want the dessert to be
9:44significantly more expensive than the
9:46entree. And the entree would be able to
9:47give away for free or at cost. And so
9:50that's the the the big misunderstanding
9:52that people have is you want to sell at
9:54the point of greatest deprivation. When
9:56someone hasn't drank water in a while,
9:58that's when you want to sell them the
9:59water. But the moment after you give
10:01them the water is not has no indication
10:03of whether your water was good or not.
10:05They're just not thirsty anymore. But
10:07maybe after they're thirsty, they want
10:08some food. And so at that point, you
10:11would then sell the food. So you might
10:12be thinking, "All right, I get it." And
10:14you know, give away something up front
10:16and hope that people will likely buy
10:18after. Got it. But what do I actually
10:19give away? So I I briefly touched on
10:21those three. Let's dive into them in
10:23more detail so you can actually do this.
10:24All right. So type one is reveal a
10:26problem. All right. I personally love
10:29these type of lead magnets. Like if you
10:32ever have the opportunity to build one
10:33of these for your business, like
10:34exceptional. It literally creates
10:36deprivation, right? So you just say,
10:38"Hey, here's a problem that you didn't
10:40know existed or you knew it existed. Let
10:42me tell you how bad it is." Right? And
10:44so just immediately you just increase
10:46the deprivation of where they are versus
10:48where they could be. Now, bonus points
10:50for not only saying you have a problem,
10:51but also saying this is what it could
10:54look like if you had it solved and
10:56here's the delta. And so I my favorite
10:59B2B example is the the website example I
11:01gave, which is, you know, if I'm
11:03offering free, you know, free website
11:04speed tests to business owners and they
11:06didn't know their site was slow and then
11:08I say, "Hey, on average for every second
11:10of load time, you lose 3% of your
11:12conversion." And so, right now, we know
11:13that our services could take you from a
11:159-second load time to a 3second load
11:17time. That's 18% increase. So what could
11:20you do with an increase of 18% of your
11:21business? They might be like, "A lot."
11:22And I'd be like, "Now relative to your
11:24revenue, the 18% increase compared to
11:26what I'm charging for websites is
11:28nothing. How soon do you want me to
11:29start?" And so this works great for
11:31problems that get worse while waiting,
11:33right? Posture analysis, right? If
11:36you're like, "Oh man, your posture's
11:37bad, but it's only going to get worse."
11:38Right? Termite inspections, like they're
11:40already active, but it's only going to
11:41get worse. Financial audits, hey, your
11:43your back on taxes or your cash flow is
11:45bad. it's only going to get worse,
11:47right? Is that you want to have things
11:48because that builds in urgency. So that
11:50deprivation actually increases with
11:52every second after they find out. I'll
11:53give you an example. So one of my
11:56highest converting ads of all time for
11:57Allen, our software company, was four
11:59reasons why you'll never have a
12:01million-doll agency. And what was crazy
12:03about that is just increased deprivation
12:05for the outcome that most of the people
12:06wanted, who we were selling to, which
12:07were small SMB lead genen agencies. And
12:10so once we listed out the reasons, many
12:12of them were like, shoot, all four of
12:13these reasons I'm also suffering from.
12:15And so if you can be very clear about
12:17the reasons that they're not going to
12:18achieve it, they also will assume that
12:19you can help them solve it, which
12:20hopefully you can. And so you're going
12:22to be incredibly specific on the
12:24negatives and then what that allows you
12:25to do is be significantly vagger on the
12:27positives, which allows you to market
12:28more compliantly, but also set more
12:30realistic expectations. If I can
12:32perfectly nail all the problems in your
12:34life and you're like, "Oh my god, this
12:35is me. I can just and I and I just said,
12:37I can help you with that." You'd
12:38probably be like, "Yeah, I believe you."
12:40Right? rather than trying to increase
12:42and promise and set these crazy
12:43expectations, just nail someone where
12:45they're at. And so that's why the reveal
12:47a problem is so important because one,
12:49they it exacerbates the existing problem
12:51and two, you just show how much it's
12:53going to continue to increase and they
12:54will lose over time. The second is a
12:57free trial. All right, this is the this
12:58is the classic taste test. This is the
13:00classic try before you buy. All right,
13:03now this is as old as time and I think
13:05that there are there are better and
13:06worse ways to do this. My this is the
13:07Costco sampler. This is the teriyak
13:09chicken. This is the the trying room if
13:11you will at the clothing store. So many
13:13businesses have free trials and they do
13:15that because they're the lowest barrier.
13:17Like are you going to want it? And so
13:19what we actually have to do here and
13:20this is where it gets a little bit
13:21interesting is that we want to give them
13:25something and then basically have a full
13:28loop to the end of the trial where they
13:30will be deprived if we remove it. So,
13:32it's almost like, hey, let me like,
13:34let's say we take a normal person and we
13:36say, hey, [clears throat] here's crack
13:38cocaine, right? All of a sudden, they
13:41might not have had deprivation around
13:42crack cocaine, but let's say they try
13:44crack cocaine. And then as soon as you
13:46remove crack cocaine, all of a sudden
13:48they want crack cocaine. And let's see
13:50how many times I can say crack cocaine.
13:53All right? And so the point here is that
13:54the free trial just makes the barrier so
13:58low that people can try something and
14:00then the idea of us removing it is what
14:04then gets them to convert. So it's like
14:06we we we give them the solution and then
14:08take the solution away in order to
14:10create the deprivation to get them to
14:12buy. And so typically here you're going
14:13to be limiting some aspect of the the
14:16product or service. you're going to
14:17limit the number of uses, the the
14:19quantity, the time, or some combination
14:22of those. So, it's a x day trial, or you
14:25get this number of hits, if you will.
14:27And all of those things kind of
14:28combined, and sometimes you can combine
14:30them together to make it even more
14:31compelling. So, when we own gym launch,
14:32one of the things that we would do in
14:34order to get people to basically roll
14:35into our higher level services is that
14:37they would, you know, basically buy the
14:39system that we had for monetization,
14:40which is how to make the gym more
14:41profitable. But then along that time,
14:43we'd say, "Hey, we'll actually give you
14:44agency services for free for four
14:46months." And then after that fourmonth
14:47period, once they were kind of like,
14:48"Okay, wow, this is great. I get these
14:50leads and I have a system for monetizing
14:52them." After that point in time, you're
14:53like, "Well, I still want leads." And
14:55we'd be like, "Yeah, but now you can pay
14:57for them, right?" And so it's basically
14:58a built-in upsell on the back end
15:00because they'd had four months of
15:02getting used to having these leads just
15:03dropped into their doorstep. And so that
15:05created the deprivation where at the end
15:06they're like, "Well, I want that to keep
15:07happening." Right? So that's the second
15:10one. The third one is one of my
15:12favorites personally, which is the one
15:15step
15:17of many, right? One step of a multi-step
15:20process. And so, this is particularly
15:23effective when you have more complex
15:24products and services. All right? And
15:26so, you know, the classic example is
15:28like if you have multiple coats of paint
15:29that you're going to be putting on on a
15:31garage, you could sell the first one.
15:32It's like, well, you're going to need
15:33these other ones, right? A classic one
15:34would be like if you're doing hair
15:36removal for like laser hair, right? For
15:38for, you know, a med spa. It's like,
15:40well, it takes six to eight sessions to
15:41actually get completely removed. And so
15:43you doing one session is kind of
15:45worthless on its own. So when someone
15:47comes in, they come in for one and you
15:48upsell the rest of them, right? If you
15:50give the first two videos away in a
15:52comprehensive course, those are things
15:53that would also function the same way.
15:55One step of many, right? And so
15:58hopefully now you know what a lead
16:00magnet is, why it's important, and the
16:01three types of lead magnets that work.
16:03And so now, how do you actually deliver
16:04it? And so there's four ways to deliver
16:06a lead magnet. So number one is software
16:10or tools, right? You give them a tool
16:13that they can use to get that that does
16:15a job for them, right? And so examples
16:17of these are like spreadsheets that
16:19calculate things, assessment tools,
16:20templates, or just like software itself.
16:23So I'll give you a good example. So Neil
16:25Patel has a really awesome one on his
16:26site where he basically has a little
16:28tool that you put in your URL and then
16:30it tells you, you know, it does a little
16:32assessment of the site based on the URL
16:34that you give it, right? It's a little
16:35tool and then obviously on the back end
16:37it can collect your information, right?
16:39And so there's tons of these examples,
16:41but that is one of the most classic
16:42ones. So if you have ways that you can
16:43say, "Hey, you're going to be in one of
16:44these four categories once you answer
16:46these this information." You want some
16:47sort of tool that that can assess or
16:50give them some sort of answer to a
16:51question, right? Or does a job for them.
16:53All of these things are ways to fulfill
16:55the other three things. Like you can use
16:56software to reveal a problem, you can
16:57use software to do a free trial, or you
16:59can use software to be one step of many.
17:01All of those things work. Now the second
17:04is information. All right. Now this is a
17:06very classic one and it's because it
17:07costs nothing to do and can also be very
17:09valuable. This is where I think
17:11information is really exceptional as a
17:12lead magnet is because it's infinitely
17:14scalable. It provides tremendous value.
17:16You can create deprivation and there's
17:17basically no operational drag to do it.
17:19Fundamentally all we're doing is
17:20teaching them something valuable. And so
17:21examples of this would be like mini
17:22courses, guides, interviews with experts
17:25and again templates but that are not
17:27dynamic templates that just work, right?
17:29And so I'll give you my classic example
17:31here is my scaling road map. So this is
17:33maybe a combination of the tool and the
17:36information. So you go through the tool
17:38and then it gives you the assessment
17:39which will then be information. But
17:40again, these are not static concepts
17:42like you can combine them. And so for
17:44example, if you would like to figure out
17:46what stage of scaling you're currently
17:48at, the problems you're dealing with
17:49right now, and exactly how to solve
17:51them, we created this $100 million
17:53scaling road map after studying all the
17:54businesses that we looked at for 200
17:55plus hours to find those common themes.
17:57This is my free gift to you. You can
17:59enter information and if you want my
18:01team to actually look at your business,
18:03you can book a one-on-one call where we
18:05will help. [laughter]
18:07We will help and then we'll invite you
18:08out here if it makes sense for you to
18:10come out to our headquarters. So, you
18:12can go through mine as an example. And I
18:14think it's pretty good. Isn't that
18:15pretty good? It's [ __ ] awesome and we
18:16spent a really long time on it and you
18:18will get a lot of value from it. So,
18:19with that being said, that leads me to
18:21the third way of delivering this is
18:23services. Now, I think this people sleep
18:25on this so hard, right? From a lead mag
18:28perspective, do work for free. Create
18:30lots of goodwill. People again get
18:32really bent out of shape on this free
18:33services one because they're like, I
18:34don't want to do work for free. All
18:35these freebie seekers. Again, only do
18:37the free work for people who are
18:39qualified. That's it. So, let me ask you
18:42something different. I want you to
18:43imagine in your head your perfect lead,
18:45right? The perfect c, you know, perfect
18:47type of customer. It's like they'd have
18:48they'd have the budget, right? They have
18:49the authority to make the decision. They
18:50clearly need it and they want to act
18:52now, right? Well, if you just only give
18:54the services away to people who agree to
18:55those things up front, that's probably a
18:57good idea. What's not a good idea is
18:59giving it to somebody who's broke, who
19:00can't make a decision, doesn't really
19:01need it, and is kind of like not sure if
19:03they want to do it now or not, probably
19:05a terrible waste of your time. So, all
19:07of these things, you want to use them,
19:09just use them for the right prospects.
19:11And so, this is where free audits with
19:13some level of implementation, same day
19:15service delivery, done some any sort of
19:17done for you component. And the way that
19:18you have to think about this, I'll give
19:19you some math mind it. So, let's say it
19:21cost you one hour of labor, right? They
19:24actually pay somebody else to do in
19:25order to give something valuable away.
19:28Now, let's say that $25 is your hard
19:30cost, but what people would
19:31realistically charge for this, and this
19:33happens all the time in services, is you
19:34you could probably charge $250 plus for
19:37something like this. Not a bad like
19:39pretty decent offer. $250 bucks for free
19:42where there's real service, real person
19:44does work. That's fairly compelling.
19:46Now, let's say that we get one out of
19:48four of these people who you give this
19:51$250 thing away for to do it. Well, what
19:53does that mean? Our cost to acquire a
19:55customer is 25 time four. And so, would
19:59we be willing to give away a lead magnet
20:01to four people to get one to buy? Would
20:03I be willing to pay $100 to get a
20:04customer? Well, provided I'm making a
20:06lot more than $100 in the customer,
20:07probably. So, not a bad idea. And so for
20:11my very first business, to give you an
20:13idea, I trained people for free for a
20:16year. I called it the free training
20:17project. And I did that because I wanted
20:19to get a bunch of testimonials. And then
20:20once I got a bunch of testimonials, then
20:22I showed the world the testimonials.
20:23More people did it. And they did in
20:24exchange for money. In fact, it worked
20:26so well that after the year of time that
20:28I worked with those people for free, I
20:30said, "Hey, I have too much demand. Do
20:32you want to pay me now?" And almost all
20:34of them said yes. That's what's like
20:36people were like, "Oh, they're all
20:38freebie seekers." like no they actually
20:39they were all happy to pay and that was
20:41that right? So don't get like if you get
20:44the if you get the right people they
20:47will continue to stay and pay provided
20:48you do a good job. So that leads me to
20:50my fourth uh fourth way to deliver a
20:52lead magnet
20:54which is physical right physical
20:55products. And what's interesting again
20:58here is that you can combine these
20:59things. So what do you think what do you
21:00think these books are? These are lead
21:02magnets, right? Fundamentally, now
21:04obviously they're incredibly valuable.
21:05And after you solve your offer problem
21:07and you make something that way more
21:08people want to buy and then you make
21:09more money, what are you going to want?
21:10You're going to want to figure out ways
21:11to advertise that and get even more
21:13people to find out about it. And if
21:15anytime you're like, "Hey, I would love
21:16help to just speed this process." You
21:18can call us, right? And if you're like,
21:20"Hey, I've done all of your stuff and I
21:22went from, you know, 1 million to 50
21:24million a year. I'd love to in, you
21:25know, have you guys invest with us and
21:27partner, then that's why we do all this
21:28stuff, right? It's a very long game."
21:30And so you can absolutely have something
21:32that's a physical product and
21:33information, right? Or the scaling road
21:35map is software plus information, right?
21:38You can combine these as many times as
21:40you want, but these are fundamentally
21:41kind of the categories that I think are
21:42when I'm like, okay, I get what I want
21:44to do now. How am I going to do it? But
21:46I'll give you a completely different
21:47example. So if you wanted to give away,
21:52let's say you go to a conference and you
21:54give a hat away to anyone that says that
21:56they're a CEO, that says CEO, right? CEO
22:00is pretty e, you know, ego driven or a
22:02shirt that says CEO with lots of O's and
22:04zero dollar signs afterwards. A lot of
22:06people would do that. It's like, hey,
22:06but in order to get the shirt, you got
22:07to prove that you're CEO. So now I get
22:09an incredibly qualified list of CEOs
22:11that I gave a physical product to,
22:13right? And so the idea here is like just
22:15think what would somebody who is the
22:16type of person that I'm looking for want
22:19and then can I just give that to them?
22:21And how much does it cost me for a
22:22t-shirt? Three bucks, four bucks, fine.
22:24And maybe maybe I convert only one out
22:26of 20 of those. $100 for a CEO feels
22:28like a good idea. So once we figure out
22:30what problem it solves, four ways to
22:32deliver that thing. The next is how are
22:34we going to name it? So this one is so
22:36slept on. People underestimate the value
22:38of this by a mile. And so I'm going to
22:40have you not underestimate it and
22:42appropriately value this, which is name
22:44your lead magnet the right way.
22:50And I'm going to tell you the real
22:51secret to this.
22:53You ask your audience. All right? So,
22:55this might seem minor to you, but it's
22:57massive. Right? How you how you name
22:59your lead magnet will determine your
23:00engagement rate more than anything else.
23:02Right? When I ran my first gym, I had
23:04something called my big booty boot camp.
23:06Right? Now, why would I call it that?
23:08Because six week deadlift and squat
23:10seminar doesn't really convert with
23:12chicks, who was my primary audience at
23:14the time, right? And so, again, was it
23:17the same thing? Yes. All I did was
23:19deadlift, squat, and hip thrust. Like
23:20that was that was primarily what I did
23:22over that six week period for them and
23:24taught them as main moves. But if I had
23:26made my marketing about that, they'd
23:27have been like, "Yeah." But if I said,
23:29"Hey, who wants big beautiful round
23:30glutes?" They were like, "I do." And I'm
23:32like, "Cool. This is just the way we're
23:34going to get you there." Like, I'm not
23:35going to advertise the vehicle. I'm
23:37going to advertise the result. And so
23:38now big booty boot camp might have been
23:40something that attracted a certain type
23:41of woman. If I said tight and toned
23:44booty, tight and toned glutes before I
23:46said bubble butt, right? Bubble Butt
23:48Boot Camp that might have attracted a
23:50different person. The thing is is that
23:51you can just test these names out so you
23:52can figure out which one not only
23:54attracts the most leads but ideally the
23:56highest quality leads. And so this is
23:57how I actually test them. So I get super
24:00clear on who my avatar is and then I run
24:02small ad tests comparing the headlines.
24:05Now if you don't have the capital for
24:06that or the money, you can just pull
24:08your audience. So if you have a hundred
24:10people who follow you, you can put it in
24:11your stories and say, "Hey, help me out
24:12here. I'm trying to name my lead magnet.
24:14Let me know which one sounds better for
24:15you." Now again, you want only the
24:17people who are the type of person that
24:19you're advertising to to respond. So you
24:21could say before you introduce it, by
24:23the way, if you're not a business owner,
24:25please don't answer. If you're like, I I
24:27don't even have an audience. Don't
24:28worry, I got you. The next thing you can
24:30do is just open up your phone and then
24:32you use this amazing device and then you
24:34text. So you just text people and you
24:37say, "Hey, which one do you want?" Or
24:38you just make a post and say, "Hey,
24:40comment A or B underneath of it." Right?
24:42There's all these different ways that
24:43you can do it. And maybe you combine two
24:44or three of those ways in order to get a
24:46close enough directional response. This
24:48book, $100 million leads, I split test
24:52six different headlines for this to get
24:54$und00 million leads because I looked at
24:56advertising. I looked at promotion, I
24:58looked at marketing, and here's the cool
24:59part. I actually show the results of the
25:01test inside the book. So, I split test
25:02the names, I split tested the image that
25:04I was going to use, and on top of that,
25:06I split test the sub headlines. And so,
25:08I I did that because I want to make sure
25:10it's going to be a winner out the bat.
25:12If I'm going to spend two years writing
25:13the book, I can spend two days testing
25:15the headline, which is sadly going to
25:17influence how many people buy it more
25:20than anything with one caveat in the
25:22short term. In the long term, it's the
25:24stuff between both of the the front and
25:27back cover that's going to be the thing
25:28that does it over the long term because
25:29word of mouth, especially in in the book
25:31world, is really the only thing that
25:33matters long term. Anyone can launch a
25:35book. Very pe few people can launch a
25:36book that continues to sell. So, I'll
25:38give you a few naming conventions that
25:40work well. So number one is number plus
25:42outcome plus time frame. So that'd be
25:44like three emails that can turn cold
25:46leads into clients in 24 hours. All
25:48right. The second would be something
25:50like how to do X or how to yay without
25:52boo if you greatest insecurity. So yay
25:54means good thing, boo means bad thing,
25:56right? So how to build a funnel without
26:00hiring copyriter even if you've never
26:02done it before, right? Or even if this
26:04is your first time. Next would be you
26:06know the adjective type that good thing,
26:09right? So, the lazy funnel template that
26:11converts like crazy. The next one would
26:13be X mistakes. Now, there's a bunch of
26:14different ways you can do this one. I
26:16gave an example of it earlier, like
26:17four, you know, four mistakes that are
26:18keeping your business under a million
26:20dollars a year. It works great. But
26:21another version of this could be like
26:22three mistakes you're probably making,
26:24five ad copy mistakes that are killing
26:26your conversion rate. Just put X
26:28mistakes that
26:31prevent
26:35Good thing.
26:37Cool. See, they're killing your PTR,
26:38it's killing your business, it's
26:39preventing you from getting this goal,
26:41whatever it is, is like these are the
26:42mistakes that keep people broke. So, now
26:43that you have a lead magnet, you know
26:45the objective, you know how to deliver
26:47it, and you know how to name it. The
26:48last step is how do you make money with
26:50it. So, now you just got to ask them to
26:52buy. And so, this is where most people
26:54fail, right? They create the great lead
26:55magnet, but then they forget the call to
26:57action, right? So, what do you want
26:58people to do after they consume your
26:59lead magnet? And so, the the formula for
27:02for call to actions is so simple. The
27:04only thing simpler is not doing it,
27:05which is what most people do. And not
27:07only do they not do it, they don't do it
27:08often enough. So even if they do it
27:09once, they forget to do it again and
27:11again and again. And I'll give you a fun
27:13little stat that they found about sales
27:14people is that the sales people who ask
27:16the most times get the most deals. And
27:18so in your marketing, you want to ask as
27:20many times as you can. Here's the
27:22caveat. How do you ask so many times
27:24without turning someone off, right?
27:26Because if all you do is ask, then
27:27eventually they're like, you don't have
27:29the opport they'll they'll stop giving
27:30you the opportunity to ask. So you want
27:31to maximize your ability to ask times
27:34the amount of times you ask. And so
27:36maximizing your ability to ask means
27:37that you're continually providing value
27:39between your asks. And so you need to
27:41increase your value per second so that
27:42people are like, I'm willing to hear
27:44this ask because I just got value and I
27:46will probably get value after this. The
27:48formula for CTA is very straightforward.
27:50Number one is you want it to be clear,
27:52not clever. Be very clear. This is
27:54exactly want what I want you to do.
27:57Clear direct CTA.
28:00then
28:02exact
28:04next
28:05action
28:08and then three reason
28:12to do now. In all CTAs, you can still
28:16use scarcity, urgency, or both in order
28:19to incentivize someone to act. Now, now
28:21I'll be straight with you. It's great if
28:24you've got it, but if you don't have
28:26scarcity urgency, you just at least want
28:27to make the CTA. So, I'll give you a
28:29simple example. So, I have within this
28:32book or all the books. All right, turn
28:34to a magic page. How about that? At the
28:35end of every chapter, I have right here
28:37a CTA, free gift, everything I learned
28:40from XYZ. And then they click that or
28:42you can click that and you go to my site
28:44acquisition.com where you can watch more
28:46stuff about that. But on my site, you're
28:48getting one step closer to becoming a
28:50portfolio company. We're coming out for
28:52for for a workshop that we have every
28:54month. You could do any of those things,
28:55right? But we want to start walking them
28:57down the process. And so I will give you
28:59a little tidbit on number three is that
29:02the reason you can always have the
29:05urgency is just an additional great
29:06reason to do it now or the scarcity is
29:08an additional great reason. But having
29:10any reason is better than no reason at
29:12all. Right? So there's tons of, you
29:14know, research on this, but like people
29:16were trying to cut in line at a
29:17university and they said, "Hey, can I
29:19cut you?" And people were like, "No." If
29:20you said, "Hey, can I cut you because
29:22I'm late for class?" People would say
29:23yes. If they said, "Hey, can I cut you
29:25because I have a dog?" People would
29:27still say yes. Even though it made no
29:29sense, wild. So, we want to use that
29:33same logic to get more people to respond
29:35to our thing. Ideally, we want the
29:36reason to make sense. But even if it
29:38doesn't make sense, it'll still work
29:39better than no sense. So, it's my
29:41one-year anniversary of being in
29:43business, and this is the promotion, so
29:44do this thing. Hey, my daughter just
29:45lost her first tooth, so I'm running a
29:47promotion here. Go get this thing. Hey,
29:49it's National Dog Day. If you have a
29:51dog, you should do this more than
29:52anybody else. It doesn't matter, right?
29:54So, I'll give you an example. If you
29:55were in the fitness industry, obviously
29:56I came from there. If you're a fitness
29:58coach and you only have like so many
30:00spots, which you probably do, then tell
30:03people that they have to sign up now or
30:05they'll have to wait for until the next
30:08spots open up, right? And so, here's the
30:10cool thing about anything that's a
30:11service business. So, this is unique to
30:13service, but 78% of businesses are
30:15service, so this probably applies to
30:16you, which is that you do not have
30:18unlimited capacity. If I said, "Okay,
30:20can you take a,000 customers tomorrow?"
30:21you're probably saying no. So you do
30:23actually have a capacity limit. It might
30:25be four, right? If four more customers
30:27will get you to capacity, then say so
30:30because the thing is is that you assume
30:31that they know how big your business is
30:33and they don't. So if you're a small
30:35business, leverage that so that you have
30:37scarcity based on your existing small
30:39constraints. And if you're a big
30:40business, you're like, well, I don't I
30:42have, you know, I have a huge amount of
30:43capacity. Then what you can do is you
30:45can have cohorts that roll. So you can
30:47say, hey, I can only start this many
30:49people per week. and then you still back
30:51into some sort of capacity or if you
30:52want to get into this group of people,
30:54you should do it this Friday. And so
30:56what do we do here? How do we how do we
30:58how do we operationalize this? So one is
31:00we give value first, which is the whole
31:01spirit of the lead magnet. Now we give
31:03value by revealing a problem, giving a
31:06free trial or giving them one step of
31:08many. We then have four ways to deliver
31:10that magnet which is software,
31:12information, services, physical products
31:13or combinations of those. We name it in
31:16a compelling way, which you can use any
31:18of these for, or just ask your audience
31:20what they would find interesting, which
31:21is a great way to test this. And then
31:23finally, make sure that you embed CTAs
31:25within your lead magnet and before and
31:27after lead magnet so that you increase
31:29the likelihood that they buy your