No matter the industry you're in, people do business with people they like, know, & trust.
One of the quickest ways to build rapport with a stranger and turn them into a piping-hot lead—or make people who are currently on the fence ready to transact—is to offer a lead magnet.
What Is a Lead Magnet?
Now if you don't know what that is, it's kinda like a gift of value you give someone to make them more likely to work with you. Sometimes they're free. Sometimes not. Sometimes they're in exchange for your contact info.
Why Lead Magnets Are Crucial
Why are lead magnets so crucial to your business? Because only 5% of people will ever exchange money to work with you, but your reputation is built by the 95% of those who consume your free stuff.
For example, let's look at my business:
- I have 2300 people who receive my weekly newsletter.
- Over the past two years, 236 people have paid money for something that I offered (roughly 10%).
But... almost all of you at some point have signed up for one of my free classes, challenges, or workshops, watched clips from my social media, or seen me speak live.
And because you got some value, you decided to provide your email.
This is the power of lead magnets.
If I were ever to get hacked on social media, it doesn't matter—I have an email list. I can still stay in contact with my entire database.
If I am ever short on money, it doesn't matter—I have an email list. I can ask my list what problems they're struggling with, then offer a solution.
Your email list is your get-out-of-jail-free card.
But it's almost impossible to build your list if you don't offer something of value upfront.
Creating Your Own Lead Magnet
So here's how you can create a lead magnet for your business:
The MOFIR vs. MIFGE Approach
Most agents are familiar with a term called "MOFIR" (Make Offer For Immediate Response).
Here's why this doesn't work:
An immediate response can mean Immediate Yes, or Immediate No. It's a 50-50 chance. And I don't know about you, but I don't like to gamble.
Here's why I do instead:
I create a "MIFGE" (Most Incredible Free Gift Ever). The whole concept of a MIFGE is to create something so insanely valuable that you'd be stupid to say "no."
You want to create something that people would willingly pay for—and most competitors charge for—and then offer it for free.
I did a free 4-day AI workshop last year and had 570+ people opt in.
Ninety-plus people ended up upgrading to VIP, and 7 or 8 people enrolled in my program.
So from this one MIFGE, I almost doubled my email list (at the time) AND got about 100 customers.
How You Can Use This Strategy
Now, our businesses are different, but here's how you could use this strategy:
- Survey your audience to figure out what they're struggling with.
- Create something to solve their problem. A lead magnet can be anything: a webinar, ebook, case study, guide, PDF, seminar, etc. Doesn't matter, pick one.
- Make it FREE.
- Get their contact info in exchange (this way you can follow up).
- Ask how you can improve it.
- Repeat.
My New Lead Magnet
This past weekend, I've been cooking up a new lead magnet.
I put together a FREE case study showing you exactly how I created a year's worth of content in under 10 minutes.
It generated content ideas, video scripts, captions, best times & days to post—everything. I share my screen and walk you through step-by-step how I did it.
I even give you the exact prompts I used, so all you have to do is copy and paste. It doesn't get any simpler or easier.
All you have to do is click here or use this link: https://www.stopandstare.media/content
And for the first few people that get the case study, I'll even hop on a Zoom call with you and personally walk you through live.
So if you're struggling with social media, make sure to get the case study.
Final Thoughts
See what I did there? I made an email about lead magnets and then created a lead magnet—a lead magnet for you.
Anyways, use this link to get it: https://www.stopandstare.media/content
