Lead Magnets vs Tripwires

Welcome back to the list building lifestyle. I’m your host, Igor Kheifets. In today’s episode, we’ll be diving deep into the world of lead magnets, the original concept of converting potential customers into leads by moving the free line. This topic is crucial for anyone looking to grow their email list and attract new customers. Lead Magnets are an essential component of a successful mailing campaign and can make all the difference when it comes to growing your email list. But wait, there’s more. Have you ever heard of the popular concept of trip wires? Well, trip wires aren’t exactly free, but they are often compared to lead magnets and used almost interchangeably in a lot of situations. Although in my opinion, they shouldn’t be. In today’s episode, I’ll explain why I don’t believe in trip wires and what I think makes lead magnets a much better option for list building. And now for the AI twist. This intro was recorded using an artificial intelligence voice that sounds eerily like me. Did we just create a new virtual host for the show? Only time will tell Oh, and by the way, I asked you in a previous episode whether we should give it or Him a name. And I got a couple of nice suggestions. But my favorite by far was aI gore. So head on over to Igor dot top slash voice to let me know if you think this AI Gore voice is good enough to be the official voice of the list building lifestyle. Now let’s get into the episode.

01:17

I’m Igor Kheifets. And this is the list building lifestyle. The podcast for anyone who wants to build a wildly profitable email list working from home. If you’d like to make six figures travel the world and help people improve their lives in the process. This podcast is for you. I also invite you to claim a free copy of my bestselling book, the list building lifestyle Confessions of an email millionaire at www.igorsbook.com. Get the free book plus $3,000 bonus package that includes my best capture page templates, email, swipe files, and traffic blueprints, visit www.igorsbook.com for details. And now it’s time to claim your list building lifestyle.

02:02

What is the lead magnet and what is it for? So once upon a time when people figured out you could build an email list, they started asking people for an email just to be a part of a newsletter of some kind. In fact, the initial evolution of what an email list was is basically people going around the internet and just manually taking an email address and putting it on the list without any solicitation whatsoever. Now what’s really interesting is that the US is still that sort of jurisdiction where you can put people on the list and you don’t have to let them know about it. As long as you have an unsubscribe button, it’s legal to just get a bunch of emails and put them on a list. Now, I don’t recommend doing that. It’s not very effective. However, it is legal, just so you guys know. Now the way that is preferred to build a list, the way that you are probably going to generate, you know, good karma and higher response rates is to exchange the email for something is to exchange email as a currency for some kind of value. Now, I don’t want to, I don’t like using the word value a lot, you don’t hear me use that word a lot, because I think it’s been commoditized to a point where it doesn’t really hold any value, like the word itself, because everybody wants to give value want to give value give value. Nobody actually knows what that means. But the idea behind lead magnets originated from the idea of moving the free line, which preceded the idea of a lead magnet. Lead magnet kind of put it in a different frame of mind, and maybe just gave it a different name that more people understood. But the original concept was moving the free line. And so this guy came out one of the guys that I at the time admired very much because I started out as his customer in the dating space in the how to pick a women space, but then realized, through some research that under his real name, he also built a big marketing business, you know, business where he was teaching marketing. And so I was watching one of his marketing seminars, and he explained the whole concept of moving the free line where you basically, if you have a product of some kind, you take a piece of that product, something from within that product. So think if you have a book, you take a chapter from a book, and you give that away for free. And what you want to do is you kind of want to give away your best chapter because your goal is to make people go like, oh, wow, this is free stuff. I wonder what I can get if I gave him some money and bought the product, right? So that was the whole moving the Freeline. But later they coined it differently under the term of a lead magnet, which means you create some kind of a value magnet. So a piece of value that attracts that magnetizes leads, right so could be an eBook could be a video could be a webinar could be anything like I’ve used all kinds of quote unquote lead magnets never really calling them that way. But I’ve had people opt in just to watch the VSL

05:00

I’ve had people opt in just to show support for our podcast, I’ve had people opt in just to get notified of a product release. You know, that’s how we would build a pre-launch list, we would mail all of our list and say, we got this thing coming out on such and such date. So if you want to be notified before the rest of the public, then give us your email address, and we’ll send you a link in our before, you know, we open the doors, and you’ll get a chance to come in an hour before so lead magnet in general is basically the concept of giving something to people, it could be tangible or intangible by the way for which they will be happy to give you their email address. Now, a trip wire is a new word. So the belief is that you can’t promote or sell or market an expensive offer right away. And instead, what you do is use what’s called a tripwire product, usually priced at under $30. To get someone to become like a buyer first and then massage them into something bigger. Now, I don’t believe in tripwires necessarily. Like I don’t think it’s a must. I’ve seen many businesses built the opposite way. They only had one offer and that offer was a $10,000 offers no trip wires, no lead magnets, you know, just 10 kit, you know. So there’s many ways to do it. But a lot of people you know, kind of like the idea because they themselves feel uncomfortable asking someone for $10,000 before they ask for a smaller amount, right. It’s all fear of rejection anyway. But yeah, tripwire is not lead magnet. And the difference between the tripwire and the lead magnet is that a tripwire is a paid product. Lead Magnet usually is free. Tripwire usually is not free. It’s just a cheap product. Again, if it’s cheap doesn’t mean its low value. It has to be valuable high value product that sold for a low price, which would make it quote unquote a trip wire because I’m not sure exactly what’s called a trip wire. Like it’s not like you’re tripping over something. But if you want to think about it as a ladder, maybe a step right. It’s kind of like a step that your customer would take towards a bigger commitment later. So that’s what tripwires are used for.

07:18

Thank you for listening to the list building lifestyle, get access to the previous episodes transcript of today’s show, as well as other exclusive content at listbuildinglifestyleshow.com. Also remember to claim your free copy of my bestselling book at www.igorsbook.com. It explains how I made millions with list building starting from scratch. Plus, I’ll give you $3,000 worth of free bonuses, including my best landing page templates, email, swipe files and traffic blueprints. Go to www.igorsbook.com now to claim your free package.