Hormozi's Lead Magnet
Another quick post. My girlfriend and I will bring together our families for dinner in an hour, so I gotta be quick. Oh boy!
Today, I'll explain an idea from Alex Hormozi's "$100M Leads" book: The Lead Magnet. The book describes ways to get leads for your business; as such, a Lead Magnet gets you ... leads! Who would've thought?
The idea is simple. You solve a small but meaningful problem for your audience without charging. As a result, they learn about your core paid service.
Seems familiar, but there's a trick: The problem solved by the lead magnet should position your audience so their next problem is solved by your core product.
Huh? Let me explain with two examples:
- The user doesn't know which stocks to buy. Your lead magnet is a list of popular stocks. He downloads it. Problem solved. The next problem comes up: Where should he buy the stocks? Your core service is an online broker. Problem solved!
First Problem: No idea which stocks to buy. Solution: A list of what stocks to buy. Next problem: The user needs a broker. Solution: Your core service is a broker.
- The user wants to decorate his home, but he's not a designer and doesn't know how to do it properly. Your Lead Magnet is an ebook written by an interior designer on positioning wall decorations. Problem solved! In the book, a special type of invisible mounting is mentioned often. But where to get these mounting devices? Well, that's your core service. Problem solved!
First Problem: The user wants to decorate his home but doesn't know how. Solution: An ebook about home decoration. Next problem: The user needs a specific kind of invisible wall mount. Solution: Your core service sells those wall mounts.
And so on. You get the idea. It's devise something for AlbumCoverAI: Offer ten free Album Covers a day. A user can claim one of those covers. First come, first serve.
But what if he doesn't like any of the pictures? He'd prefer one that fits their specific needs. If there only was an image generation AI solving that problem... Whoops, there it is.
The psychology behind the idea is quite simple. You give first, offering value - a solution to a problem - for free. The solution works well, and the user now trusts your service. He now has faith that your core service will be worth the money.
Think of a lead magnet for your service. It's much easier than you think.
P.S.: Here's a link to the book. Not affiliate.