Lead Magnet

Hello, my friend and future millionaire. 

Welcome to this episode of The Money Wheel. 

My name is Kris Hutchinson. 

So yesterday we talked about the customer journey and the first step of that journey is going to be the lead magnet that you offer.

So that’s what we’re going to cover today. 

So what is a lead magnet? 

Usually it’s something that you offer for free, in exchange for their email address, so that way you can continue your communication with them and build that relationship. 

So this is the first transaction that they’re really making with you.

They’re trading their email address, which is something personal to them, and they’re inviting you into their inbox. 

So what we want to do is make sure that they’re getting a lot of value out of this first transaction.

So your lead magnet can be some kind of a free download, maybe a PDF, you know, a document that you write that helps them solve a problem, or it could be some kind of a video tutorial, you know, something quick that they can watch, but they’re going to get a lot of value out of, and both of these things definitely have merit and are valuable to the customer.

As long as they’re able to learn something from it. 

Now, generally a video could be a little bit easier for you to produce.

If you have a webcam on your computer, you just turn it on, record yourself and give them the education that they need.

Or maybe you just want to write your own PDF download and just have a document written.

And I know our first time we went with the document route, because Don and I are not writers, we actually had to hire somebody to create it for us.

And we were to find somebody for an average cost of $120-150 through a website like Upwork or Fiverr, something like that.

So you can definitely find freelance writers out there that can create these documents for you. 

And they’ll write one for you that will be completely unique based on your instructions. 

And then you were able to put your name on it as if it’s coming from you.

So then after they give you their email address, we’ll set up your autoresponder to send them an email containing the download link to the video or to the document.

So that way they have access to it. 

And we’ll talk about the autoresponder on a different podcast. 

So that’s everything I have for today on The Money Wheel.