Lead Magnets 101

Step-by-step guide to creating effective lead magnets based on 100M Leads by Alex Hormozi.

TO: Attorneys & Managing Partners
FROM: Benji Albrecht, Founder and CEO of BPAgency
DATE: February 23rd, 2024
RE: Lead Magnets 101 and LSA Dominance

Most people overcomplicate sales funnels.

Especially lead magnets.

So in this week’s Memo, I decided to share my notes regarding lead magnets from Alex Hormozi’s 100M Leads: How to Get Strangers to Want.

Lead Magnets 101:

What is a Lead Magnet?

 A complete solution to a narrow problem given away at a significant discount (or free) to attract your ideal clients.

What are the benefits of an effective Lead Magnet?

  • Builds trust before you ask for a significant financial investment.

  • People judge the value of the paid thing based on what you give away for free.

  • Allows you to build list of ideal prospects for email marketing and targeted advertising.

  • Once the lead magnet solves the narrow problem, it should reveal the next problem, which can only be solved by your core offer.

How do I create an effective Lead Magnet?

Step 1: Pick WHO it’s for and WHAT narrow problem to solve for them.

Example: A realtor decides to create a lead magnet for homeowners (who) showing them how to increase the value of their home (narrow problem).

Step 2: Pick how you want to solve the narrow problem.

You can A) reveal the problem with an audit or diagnosis (works great for problems that get worse while you wait), B) give away a sample or free trial or C) give away one step of a multi-step process (for example, the realtor helping homeowners increase the value of their home).

Step 3: Choose a Delivery Method

  1. Software - Give them a tool.

  2. Information - Teach them something.

  3. Services - Do work for free.

  4. Physical Products - Free samples.

Step 4: Name it.

The name of your lead magnet frames the message and alters the prospect’s perspective before they consume. Make sure the content of your lead magnet follows through on any promises stated or implied.

Your lead magnet should engage your ideal clients when they see it and get more of them to engage than if you offered your service instead.

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This email is brought to you by Benji and the team at BPAgency.

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