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