I have spoken before about how to make money by giving away specific information for free.
I have previously shared the story of Pat Flynn who made tens of thousands of pounds (it could have been hundreds of thousands of pounds now) after he recorded a 4 minute video which he shared on YouTube for free.
In the video, Pat recorded himself building a WordPress website within 4 minutes using Bluehost.
Below the video in the description area he added his affiliate link for Bluehost.
People watched the video, realised that they too could build a website fast after seeing how easy Pat made it look, and they then clicked through his affiliate link to buy hosting with Bluehost.
That is the simple process that made Pat a lot of money.
That video was a lead magnet.
Recently, I shared the story about how a Serbian guy named Stevan began making more affiliate sales when he started creating lead magnets.
He recently posted this to Facebook:
The reason he saw his sales increase is because he was giving a lot of value upfront which helped to build TRUST and nurture a relationship with the person consuming the lead magnet.
As with the Pat Flynn example, people could see with their own eyes what he was doing. It was proof that what he said could be done could actually be done.
And that is powerful.
Lead magnets work the same way as sales pages.
They warm-up cold leads by sharing enough information which removes doubts, and proves that something can be done, or is the right product/service for the person consuming the lead magnet.
Alex Hormozi, a very popular and successful marketer, says:
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“The business that provides the most value upfront, wins.”
He says lead magnets are “non-negotiable” for any coach or affiliate looking to make sales and sign clients organically.
Why?
Because a well crafted lead magnet, just like a sales letter, is like having a salesperson working for you 24 hours a day, 365 days of the year.
When they are online for the world to see, they can generate sales for you on autopilot.
You can either give your lead magnets away for free to allow people to consume them and potentially buy affiliate products through or and because of them, or you can give them away in exchange for an email address.
Yes, neither way costs the consumer money to access, but some people see handing an email address for a lead magnet a price they are not willing to pay.
They fear that as soon as they have handed their email address over they will be bombarded with sales emails.
When you put a lead magnet online for people to access without having to hand over their email address, it can result in more people seeing it, and if it is a quality lead magnet that helps people solve a problem or learn something new, it could result in them wanting more of your content which in turn could lead to them ‘happily’ signing up to your email list.
I don’t think the days of exchanging lead magnets for email address is over, I just think that it pays to give away additional content up front for free which shows people what they can expect from you if they do decide to give you their email details.
Think of it this way…
Imagine that you went to a supermarket and there was a small stand at the entrance with a person offering customers free tasters of a new biscuit that had been launched, how would you feel if:
- They had asked for your name and email address before you were given the chance to taste the new biscuits.
Or… - You were allowed to taste a couple of biscuits and was then asked for your name and email address in exchange for a free pack of biscuits.
Which of the above do you prefer?
I imagine that you would be reluctant to hand over your email details just to taste a few biscuits.
You don’t know if you are going to like the biscuit, and I can’t imagine that you would want to receive emails from a company promoting a biscuit that you disliked.
But if you enjoyed the biscuits that you had just tasted and wanted the free pack, you would probably be more than happy to hand over your email address because you already had an idea of what you were going to get.
The other thing to consider is that it is actually better to build an email list of people who actually like your content.
The biscuit company would prefer to have the email details of 1,000 people who actually liked the biscuit, than 3,000 email addresses of people that included those who didn’t like.
It makes more sense to have ‘fans’ of your content and products on your email list than both fans and haters.
Giving away information that promotes affiliate products or services that doesn’t require people to hand over an email address in exchange for it also means that people can share it for you.
Videos on YouTube can be shared by either being embedded on other people’s websites, or the links to those videos can be sent across the internet in emails or in messenger apps.
Building an email list is important, but you want the right people, and that can happen when you give people access to some of your content and information first.
In the video below, you will discover how you can create a simple lead magnet using the free-to-use Google Docs.
How To Create A Lead Magnet For Free Using Google Docs
Google Docs is a fantastic tool. It allows us to create fantastic lead magnets, sales pages, and proposal for FREE…
AND it allows us to share them with other people… for FREE!
Kind regards
John Harrison.
PS. Imagine having a dozen or more lead magnets floating around online, waiting for people to access them and click on the affiliate links embedded within.
And imagine that those affiliate products and services were paying monthly recurring commissions or commissions over £500 per sale.
Does that sound good to you?
Here’s that link again:
How To Create A Lead Magnet For Free Using Google Docs
