The Game w/ Alex Hormozi

Free Stuff Sells: The Power of Lead Magnets | Ep 566

Thu Jul 20 2023

lead generationsalesvalue creationlead magnets

Description

The episode discusses the importance of generating leads and increasing sales by providing valuable free content. It explores the concept of lead magnets and how to create effective ones. The episode also emphasizes the significance of delivering value and encouraging action to build trust and drive sales.

Insights

Providing Value Before Purchase

Giving away valuable free stuff increases the likelihood of a purchase as people buy based on a prediction of future value.

Lead Magnets for Lead Generation

Lead magnets are complete solutions to narrow problems that can be used to generate leads.

Anticipating the Customer Journey

Businesses should solve problems in stages, charging for each subsequent problem solved, to provide value throughout the customer journey.

Creating an Effective Lead Magnet

To create a lead magnet, consider the problem you want to solve, the target audience, and the delivery mechanism that will be perceived as high value.

Packaging and Consuming Lead Magnets

Package lead magnets in an appealing way with compelling titles and images. Offer different formats for easy consumption.

Delivering Value and Building Trust

Providing exceptional value upfront through lead magnets helps build trust and increases the likelihood of future sales.

Importance of High-Quality Content

Giving away valuable content is important, but it should be of high quality to avoid negative impressions.

Encouraging Action and Multiple Options

Make it easy for people to take the next step and buy from you. Offer clear call-to-actions and multiple ways for action based on preferences.

Summary

Transcript

Generating Leads and Increasing Sales

00:00 - 06:04

To generate more leads and make more money, you need to give away valuable free stuff.
People buy based on a prediction of future value, so giving them value before they buy increases the likelihood of a purchase.
There are two ways to get leads: making an offer or using a lead magnet.
A core offer is the product or service that makes the most money, while a lead magnet is a complete solution to a narrow problem.
Lead magnets should be high-quality and solve a painful step for prospects at a discounted price.
Even if delivering the lead magnet costs money, it can lower the total cost of acquiring new customers.
Giving away free value upfront allows you to provide even more value after someone buys.
Businesses should anticipate the customer journey and solve problems in stages, charging for each subsequent problem solved.
For example, in weight loss, solving steps like eating better and working out can lead to paid solutions like accountability coaching.

Creating an Effective Lead Magnet

05:36 - 11:05

To create a lead magnet, you need to think about the problem you want to solve and who you want to solve it for.
Figure out how you want to solve the problem, whether through a free assessment, trial, or combination.
Decide on the delivery mechanism that will be perceived as the highest value by your prospects.
Package your lead magnet in an appealing way with a compelling title and image.
Make it fast and easy for people to consume by offering different formats like audio, written, and video versions.
Ensure that your lead magnet is of high quality and provides real value to avoid giving away fluff content.
By providing exceptional value upfront, you can build trust and increase the likelihood of future sales.

Delivering Value and Encouraging Action

10:36 - 12:46

Giving away valuable content in lead magnets and freebies is important.
If you only provide low-quality content, people will not want to work with you.
Over-delivering to your audience helps build your reputation.
Make it easy for people to take the next step and buy from you.
Be clear and direct in your call-to-actions.
Offer multiple ways for people to take action based on their preferences.