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The Lead Generation Cheat Code Business Owners Need — Transcript

by Elliott Botterill · 3,573 words · 526 segments · language en · Watch on YouTube

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0:00If you're a business that generates
0:01leads, and you're finding it harder than
0:03ever to get them, then strap in. Cuz I'm
0:06about to share the cheat code that is
0:08killing the traditional lead magnet. You
0:11see, this is for business owners who
0:13want to increase the number of leads
0:15coming into their business, that want to
0:17reduce their cost per lead, so they get
0:20more bang for their buck, and ultimately
0:22who want to increase the number of
0:24sales, revenue, and importantly profit
0:27that they can generate so they can have
0:29more impact, and drastically increase
0:32their take-home income. That is what we
0:33are all about here on this channel. I'm
0:35going to be your host as I explore why
0:39lead magnets in the traditional sense
0:41are nowhere near as effective as they
0:43once were. I'm going to explain what we
0:47are doing instead, and unveil the
0:49magical cheat codes to you. And then I'm
0:51going to show you how you can start to
0:53build and implement your very own cheat
0:56code into your business. My name is
0:58Elliot. I'm the Chief Marketing Officer,
1:00and one of the co-owners here at
1:02Entrepreneur Circle, a business that
1:04lives to help businesses. And just as a
1:07proof, here's a snapshot of our ad
1:08account in the first 25 days of June,
1:11and we spent around 100,000 pounds on
1:14adverts, and we generate loads and loads
1:17of leads. You know, they're the
1:18lifeblood of our business. We generate
1:20leads for our low-ticket community
1:21business, we generate leads for our
1:23software-as-a-service business, and we
1:25generate leads for our high-ticket
1:27coaching business. I also built, scaled,
1:30and exited an agency over the last 6
1:33years, where we did this as a
1:35done-for-you service for many, many
1:37clients spanning many different
1:38industries. So, I have built myself,
1:41with my own two hands, a whole bunch of
1:44lead magnets, and I have seen what has
1:45worked and what hasn't. And importantly,
1:48we're at the forefront of this important
1:50evolution, and getting you ahead of the
1:52curve is what's important in this video
1:54today. So, quickly let's just define
1:57what a lead magnet is. Well, in the
1:59traditional sense, a lead magnet is
2:01something that we would give away for
2:03free in exchange for somebody's details.
2:07Those details that act as a signal of
2:10interest that somebody is interested in
2:12our stuff, and the details is the fair
2:14exchange that enables us to communicate
2:17with them. And thus, they go from being
2:19eyeballs or attention to a cold hard
2:22lead that we can now engage with and try
2:25and warm up and nurture. And so,
2:27historically, you know, we'd give away
2:29all sorts of free guides, free quotes,
2:32PDFs, downloads, you name it.
2:35And the reason we do lead magnets, which
2:37is important to understand, is the ABC
2:40market principle.
2:42And so, this is the idea that in any
2:44given market, we can break all of the
2:46customers into one of four segments.
2:49At the very top of the market, you have
2:523% of people that are your active
2:56buyers. These folks know they want to
2:58buy this thing, and they've got the
3:00credit card out ready to go. We love
3:03those people, but again, there's only 3%
3:05of them. Which means if you're purely
3:07marketing to the people that are ready
3:08to buy your thing, you're only going to
3:10be able to get so many.
3:12Beneath that, we have a much bigger
3:14chunk,
3:16which is 17%.
3:18And these are the buyers considering.
3:21What does that mean? It means they're
3:22kind of in the market for your type of
3:24thing, whether that's shutters, whether
3:26that's trainers, whether that's
3:28marketing services. They're not quite at
3:30the point where they've got the credit
3:31card out and ready, but they are
3:33actively looking, they're actively
3:34considering this purchase. And so again,
3:38they're a little bit earlier in the
3:38journey, they're going to take a little
3:39bit longer to convert, but so we have to
3:41appeal to those guys with slightly
3:43different marketing messages than the
3:453%, which is all about buy now. Beneath
3:47that, we have a big chunk.
3:50This is a 60%. And this is our cold
3:53audience. So, these are people that
3:55could be a fit for our thing, but they
3:58are not actively in the market. Many of
4:00them don't even know your thing exists,
4:03and they're certainly not thinking about
4:04it right now. So, for these guys, we
4:06have to do a lot of additional education
4:09to warm them up, make them aware, and
4:11move them into these upper echelons.
4:14Now, most people when they do their
4:16marketing, they focus really on the top,
4:19the active buyers. And as a result, they
4:21find it very difficult to grow. The big
4:23breakthroughs that we have had and that
4:25we created for a lot of our clients in
4:27the agency days were building lead
4:30magnets that appealed to the 17% but
4:34also this huge chunk, the 60%. Because a
4:37lead magnet, some free, valuable,
4:39interesting thing would appeal to people
4:43earlier in their journey, and we would
4:44get on their radar, give them something
4:46of value, educate them, and begin to
4:48have a conversation. Now, I know you're
4:50probably wondering, "What about this
4:51chunk at the bottom, Elliot?" Well,
4:53these guys,
4:54the bottom 20%, they're never going to
4:56buy. So, screw those guys. And
4:58historically, this always worked.
5:00But, we have got to recognize that the
5:03world that we live in is evolving
5:06as depicted by this beautiful drawing I
5:09created. Now, there's two big forces
5:11that we've got to understand because
5:13when you are a marketer, a business
5:15owner, and we are creating paid ads,
5:18organic content, or reaching out to
5:20people to try and get their business,
5:23we must understand how they are living
5:27and behaving. Because if we do not, our
5:30efforts to do actions and create things
5:33that are going to persuade and influence
5:35their behavior is going to be very
5:37limited. So, I always like to keep my
5:39finger on the pulse of what is happening
5:41in society, and I highly recommend that
5:42you do, too. But for me, there's two big
5:45forces that are having a major impact,
5:48that are forcing a necessary evolution
5:51in the world of lead magnets. The first
5:53one
5:54is short-form video. The rise of TikTok
5:56and the development of short-form video
5:58across many, many platforms. Now,
6:00short-form video, when you think about
6:01it, is the most highly curated,
6:05rapid-fire content designed to stimulate
6:08the biggest chunks of dopamine in our
6:10brains as humanly possible. All these
6:13little clips are take expansive bits of
6:16content, pinpoint the most thrilling,
6:18excitable moments, and then we are just
6:21fed a never-ending stream of them. 1
6:23minute, it's a great insight. The next
6:25minute, it's an animal attack or a car
6:28crash or some other crazy thing. It's
6:30crazy, okay? What appears on the feed.
6:33And so, that is frying people's brains.
6:36You've all heard of brain rot, which I
6:39truly believe is a pretty intense thing
6:42that I'm slightly worried about for my
6:43future children, but hey, that's a topic
6:45for another day. People's attention
6:46spans are diminishing, and that is a key
6:49driving force behind it. Not only that,
6:51we saw the uprising of ChatGPT and AI
6:54and Claude and all of this magical
6:55stuff, which has been out for several
6:56years now, it's getting better and
6:58better, but it's training us as humans
7:00to be able to ask a simple question and
7:03then get fed a beautiful synthesized
7:05response almost immediately. So, we are
7:07just instantly gratified at every turn
7:11right now, which is exactly why standard
7:14lead magnets, done the way we've always
7:16done them, simply are no longer valid.
7:19Cuz if we are advertising some kind of
7:21free download, a free info pack, a free
7:23PDF that someone has to sit there and
7:26consume,
7:27this no longer cuts the mustard for most
7:30people. And this is only going to
7:32exacerbate, and it's why it's important
7:34you get ahead of this now rather than
7:35later. So, instead of doing the old,
7:39boring stuff, we are going to build
7:41cheat codes. What is a cheat code? Well,
7:44let me take you back several years to
7:47Grand Theft Auto: San Andreas. Not the
7:49first game to have cheat codes, but a
7:51very legendary game
7:53that I sank many hours into as a small
7:56boy. And so, for those who are
7:58uninitiated Grand Theft Auto: San
7:59Andreas, you play as a guy in San
8:02Andreas and you can go around and do
8:04whatever you want, really. It's pretty
8:05cool, crazy game.
8:06And in San Andreas, you have, you know,
8:09various stats around your stamina, your
8:13strength, you you know, earn money
8:16to buy weapons, to cause carnage. And
8:18when you cause carnage, you also will
8:20get the police and the army coming after
8:21you. There were such things as cheat
8:23codes in this game. Hidden, secret
8:25patterns that you could press on your
8:27PlayStation controller and it would
8:29automatically, instantaneously spawn
8:32magical things in the game for you. They
8:34were cheat codes. So, if I press circle,
8:37right arrow, circle, right arrow, left
8:39arrow, square, triangle, up in a
8:41sequence on my controller, boom!
8:43No police would come and get me. And the
8:45same could be said, and I had many a fun
8:47time spawning in a tank, driving around,
8:51getting max police on, making myself
8:52invincible, spawning weapons, and just
8:55going full god mode because of these
8:56cheat codes. And so, in the world of
8:58business, we are now able to create
9:01cheat codes.
9:02You see, a cheat code is simply our
9:04ability to deliver a specific solution
9:06to a very specific problem instantly
9:10with next to no effort. That is what a
9:12cheat code is. And that is the future of
9:14lead magnets, my friends. You see, gone
9:16are the days where we
9:18have to produce a boring PDF, and here
9:20are the days where we have AI tools at
9:22our disposal, such as Claude, Manas,
9:25Replit, you name it. Things that we can
9:27speak an idea and create a complete tool
9:32or solution that's able to actually
9:34produce something of value to our
9:35customers
9:36in next to no time for next to no
9:38effort. And this is what you need to get
9:40ahead of in my humble opinion. So,
9:43three types of cheat code that we are
9:44experimenting with at the moment. The
9:47first type of cheat code is a
9:49diagnostic. This is a tool where people
9:51are able to enter a series of specific
9:54answers to questions or bits of
9:55information, and we are able to take
9:57that information and turn it into some
10:00kind of profound, insightful result. And
10:03so, the value of this is it gives them
10:05an insight, whether it's a road map,
10:08whether it's a specific problem and
10:10solution. The main value is people are
10:13giving you stuff, and we are diagnosing
10:16what the core issue is and giving them a
10:18clear path to resolve it. Cuz for a lot
10:21of people, especially if you're stuck in
10:22business, having clarity over the
10:24problem that you should be solving is a
10:26tremendously valuable thing. The second
10:28type of cheat code is an asset creator.
10:31So, this is something where, unlike a
10:32diagnostic where we give them an
10:34insight, it is actually going to produce
10:36a valuable thing. So, they interact with
10:39this cheat code, and boom, it actually
10:41creates an asset that they can go on to
10:45use. And the third type of cheat code is
10:48an AI clone. So, this is where we're
10:50able to to package up our brain, our
10:53knowledge, our intellectual property,
10:55and create a specific AI that somebody
10:58can chat with, call, even video call
11:00with, and get their personalized advice.
11:04And so, this is all about giving them
11:06personal attention and access
11:09to an individual that has interesting
11:11experience, intellectual property, and
11:14they can get personalized advice and
11:15recommendations. So, these are the three
11:17core ones that we're experimenting with.
11:20So, a few examples to bring this to life
11:21for you.
11:22So, one that we've been running very
11:23successfully recently is this. It's a
11:26diagnostic tool. Now, it's aimed at
11:28service-based business owners, and the
11:30premise is what is your fastest route to
11:33an extra £50,000 per year? And this
11:36simple diagnostic it requires you to
11:39fill out a few questions. It takes
11:41literally less than 4 minutes and the
11:43output is going to be a clear path that
11:46identifies the small number of steps you
11:48need to take in your business to
11:50generate an extra £50,000 in take home
11:53income, which in and of itself is quite
11:55a compelling promise. And as a result it
11:57attracts a lot of people. We get a lot
11:59of great information about them and
12:01their business and they get a really
12:02useful result at the end of it. Now this
12:06diagnostic is actually a lead magnet for
12:09our software company.
12:10Because the most the quickest route in
12:13most cases is normally to do with fixing
12:16your follow-up, reactivating a lot of
12:18the old leads and customers that might
12:20be sat in your database. And so we
12:21highlight that and then it segues nicely
12:24into our proposed solution for it, which
12:27is getting our help and getting on board
12:28with the software and so on and so
12:30forth. So it's a compelling promise, a
12:32really useful valuable diagnostic for
12:33the prospect, but it also nicely segues
12:36into what we are trying to do and
12:37enables us to drive customers for the
12:39software. Another example. So this is a
12:42custom GPT. So this is an example of a
12:44asset creator. This custom GPT we call
12:47it the cold lead defibrillator. And so
12:49this is a really simple little custom
12:51GPT. Again, it's designed for service
12:53based business owners, trade business
12:55owners. And what it does is it writes
12:58you
12:59a very short follow-up email trained on
13:02our proprietary frameworks that is
13:05designed to defibrillate and reactivate
13:08these old ghosted leads. People that
13:11haven't haven't responded in a while.
13:13And so this is incredibly valuable
13:15because if you are a service based
13:17business owner with a pipeline filled
13:19with people that are ghosting you, this
13:21can give you a literal email to send
13:24in 2 seconds that will be effective. So
13:27highly valuable and very easy to use. We
13:30hosted an event in the last couple of
13:31weeks called the implementer, and at the
13:33implementer, I sit at a table at some
13:36marketing strategy table, and people can
13:38come over and we will spend 10 to 20
13:41minutes talking about the marketing
13:42strategy in their business. And one
13:45conversation was all about cheat codes
13:47cuz this lady had a business, she'd been
13:49a web designer for many many years, and
13:52she was going to sell this 297 pound
13:55website kit, which is for small coaches,
13:58creators, small businesses that need a
14:00simple one-page website, and they want
14:01it to look nice and human. And so, in
14:04order to do this, she was going to
14:05create this kind of website quiz. It
14:07would ask their prospects around what
14:09they were looking to get out of their
14:10website, and it would give them some
14:12valuable kind of information. And then
14:13she'd try and sell this 297 website kit.
14:15I said, "That's probably not the best
14:18idea, to be honest. I don't think that
14:20will be that compelling or that fun. And
14:22so, what I think will be much better is
14:25you make a cheat code, a cheat code
14:27where instead of doing a website quiz
14:28and then trying to sell them this thing
14:30where they have to build a website, why
14:32don't you make the lead magnet a website
14:35generator? Cuz she could take her
14:37frameworks and her templates and her
14:39styling that she has developed and
14:41actually create a simple little tool
14:44where somebody puts in the information
14:45about their business or the details they
14:47need for their website, and then boom,
14:49it just generates the design of the
14:51one-page website. So, they can actually
14:53see it. And then, instead of selling a
14:55297 build-your-own website, which not
14:58many people want to build their own
14:59website, you can just sell the
15:01deployment of that website. Cuz
15:03actually, once you've seen this
15:04beautiful design, if you like it, and
15:06there's an option to say, "Hey, do you
15:08just want to buy this website? We can
15:09set it live for you now for 500 pounds,
15:121,000 pounds?"
15:14Most people will probably say yes. And
15:16because of technology and Rapid and all
15:18this kind of stuff, that becomes
15:20possible today. And so, that's a great
15:22example of taking what would have been a
15:23traditional quiz and turning it into an
15:26incredibly powerful cheat code that I
15:29hope will absolutely transform her
15:31business. Then we get on to the AI
15:32clones. So, there's a company called
15:34Delphi, which we've explored, and these
15:37guys make it very straightforward for
15:39you to create your own AI clone. And on
15:41their website, you can see a host of all
15:43of the semi-famous big names across a
15:45variety of different industries that
15:47have got their own Delphi clone that you
15:50can go and interact with. And so, you
15:53can go, you can chat with them, you can
15:54call them, and get their specific view.
15:57Because yes, generalized AI is
15:59fantastic, but if I have a specific
16:01health question, and there is a
16:03world-leading health expert on that
16:06particular topic, then actually the
16:07value of me interacting with that AI
16:09clone is so much higher. And
16:12they make it really easy to turn this
16:14into a lead generation tool, where
16:16people can interact for a set number of
16:17messages, and then if they want to
16:19continue, boom, they have to put in
16:21their email. Or you just gate it, and
16:22you say, "Put in your email to get
16:23access to this for a short period of
16:26time." So again, if you are an
16:27expert-led business, have a lot of
16:29proprietary information, this can be a
16:31truly fantastic lead magnet that is
16:34worth exploring as well. So, there's a
16:36few examples. One of my favorite
16:37examples is in interior design, classic
16:39service-based business, where you're
16:42able to create an interior design like
16:44generator. So, instead of going through
16:46the standard process of advertising a
16:48brochure and then trying to communicate
16:49with people to get them to book a
16:50consultation, create a tool that
16:53actually people can upload pictures of
16:55their rooms, and it will show a bunch of
16:57design variations in your style with
17:00your suppliers. Previously, that would
17:02take a long time and a lot of money to
17:04build. Right now, you can do that in a
17:06weekend. The world we live in is crazy.
17:08And so, it's your ability to harness the
17:11power of what's available at your
17:12fingertips right now to build the best
17:14cheat codes. Now,
17:16what makes a good cheat code? The first
17:19thing that makes a cheat code highly
17:20effective is its specificity. It must
17:24solve one very small, very painful,
17:27specific problem. Not a whole bunch of
17:30stuff, one problem that ideally leads
17:33them into the next problem they're going
17:35to encounter, which is where we can open
17:37the door to conversations around our
17:40paid services and help that we can
17:42deliver. So, go really deep on one
17:45little niggley thing that's like a
17:46splinter, you know? Tiny little thing
17:49stuck in you. Really flipping annoying.
17:51You're not going to leave a splinter in
17:52there for ages, are you? You're going to
17:53yank that sucker out. So, it has to be a
17:55problem that people want dealing with
17:56straight away. The second thing good
17:59cheat codes do is provide an instant
18:02result. Speed is key here
18:05for all the reasons we spoke about with
18:06the short-form brain rot and the AI and
18:08some gratification. This thing needs to
18:10work now, not tomorrow, not next week,
18:13but now, which is why you must harness
18:16these tools that I've shared in order to
18:18deliver something where the value is
18:20immediate. And finally,
18:22it must be low effort. People will not
18:25be opposed to answering several
18:26questions and uploading some decent
18:28information in exchange for something of
18:29pure value, but you don't have to be too
18:31long, okay? Too arduous, cuz again,
18:34we're dealing with mostly cold people
18:36here. And so, we win by making it as
18:39easy and frictionless as possible for
18:42them. Now, all of this comes together,
18:44but I want you to remember this. The
18:46size and the speed of the win that your
18:48cheat code is able to deliver is going
18:51to set the tone. It's going to determine
18:53exactly how warm these leads are when
18:55they come into your business, and
18:57they're going to determine how much they
19:00trust you. So, we want to go big with
19:02this and deliver something that delivers
19:05very strong value very quickly for very
19:07low effort, and then follow up properly,
19:10and we will be laughing all the way to
19:12the bank. Ladies and gentlemen, I hope
19:13you enjoyed this video. I know I sure
19:15did. I appreciate you tuning in. Don't
19:17forget to drop a like, a comment, and
19:19subscribe. New videos coming at you
19:21every single week. I'll see you later.
19:24I'm off to go play GTA San Andreas.
19:26Bye-bye.

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