In 2018 Dan Kennedy published his book called Magnetic Marketing and today the name for a lead generating bonus or gift has become a lead magnet.
Magnetic Marketing has become the most effective marketing strategy that most successful online marketers are using.
In this article we’ll look at the highlights of this marketing strategy and how you can use it to your benefit as well. If you do not use magnetic marketing, you might lose more than you think.
This groundbreaking practical strategy can be used in any business to attract more prospects and make more sales.
The Benefits of Magnetic Marketing
- Magnetic Marketing strategy gives you a practical system to follow.
- It will give you a steady stream of interested people to whom you can make your offers.
- It will brand you as the go-to person in your chosen niche.
- It will help you to deliver the right message to the right person using the right media.
Answer these questions for your prospect:
- Why should I choose you versus any and every other provider of the same product or service that you provide?
- What specifically do you do that’s truly different compared to your competitors?
- Can you niche your target market in such a way nobody else can or will?
The answers to these questions will distinguish between you and the general marketers out there. It is the only way in which you can stand out and be noticed in all the noise.
You must find your USP or unique selling proposition. It will make it so much easier to create compelling ads, landing pages and lead magnets to attract the correct people for your business.
Let’s look at the most common mistakes most newcomers to online marketing are making.
Common Marketing Mistakes
- Marketing to the wrong people – not narrowing it down.
- Saying the wrong things like making impossible promises.
- Asking your prospect, the wrong things like ‘buy this’ from the word go.
- Thinking they can advertise anywhere and everywhere.
- Having no definite marketing strategy or system.
- Chasing after clients instead of letting them come to you.
- Not thinking that your ad budget might run out.
- Racing to the bottom with ever lower pricing.
- Having no properly planned follow up with your prospective clients.
- Trying to market to everyone.
You should adjust your offers and messaging in a way that perfectly matches their desires and your ability to fulfil their goals. You should craft compelling, emotional messages that reach deep into their hopes, dreams, fears, and pain.
At minimum you want your marketing system to focus on the following key areas:
- Lead Generation – The ongoing acquisition of leads for your business.
- Conversion – Taking those leads and converting them into paying customers.
- Retention – Keeping those customers coming back for more.
- Referrals – Getting your customers so satisfied and happy with their purchases that they will refer all their friends to buy from you.
Finding Your ‘Starving Crowd’
It all boils down to finding your target market who cannot do without what you have to offer them. Not only must you find the people who are already interested in what you have to offer, but they must also be willing and able to buy it. Preferably it should be those that already know of you and are likely to trust you.
Your success lies in how well you can build a relationship with your prospects. You must get them to engage with you in every way possible. DM them in social media, send them emails with questions for them to answer by replying to you.
The Magnetic Triangle has Three Building Blocks
- Message – Truly compelling, preferably irresistible marketing messages.
- Market – High-probability target marketing that identifies only those most likely to respond and not those that are not a good fit.
- Media – The most appropriate combination of media used to deliver your message clearly to your market.
You can use blog articles with SEO, social media posts and/or YouTube videos.
To determine the psychographics of your market, ask yourself:
- What keeps them awake at night, staring at the ceiling, unable to fall asleep as it relates to your product?
- What are they frustrated about?
- What is causing them pain, right now, as it relates to your product?
- What is the single biggest problem that you can solve for them?
- What do they secretly, privately desire most?
- What do you say to your marketplace, to your past, present and future prospects, clients, and customers that is compelling, that is magnetic, that cannot be ignored?
- What must be responded to, that draws them to you like a bright light in the dark of night?
Your marketing message should concisely and clearly say to the right market:
“Here’s what I’m all about and here’s why you should choose me and my products and services.”
Your Secret Selling Widget
Use widgets to package your services and goods in experiences bundled together, given a clever name, and promoting it as a special, one-of-a-kind opportunity.
In the magnetic Marketing System, there are three types of offers:
- Lead generation offers or lead magnets.
- Consultation or coaching offer – one on one or groups.
- Final or core offer – your flagship offer of $999+. Your Master Mind Group.
Now let’s look at the ten foundational rules of marketing.
Magnetic Marketing Rules
- There will always be an offer.
- There will be a reason to respond now.
- You will give clear instructions – call to action.
- There will be tracking, measurement and accountability.
- Only no-cost branding is ever done.
- There will be planned follow up with prospects.
- There will be strong, convincing copy.
- It will contain a relevant story or example.
- Results Rule.
- You will persevere with discipline and consistent effort until you succeed and ask for help.
Ways in which to follow up with your subscribers:
- Restate, resell, extend the same offer.
- Give good advice and practical content between offers.
- Provide stern “second notice” to an onrushing deadline.
- Third and final notice plus bonus.
- Change to a new offer (or just use a new name for the same offer – new version, updated with new tactics or strategies).
Your Lead Generation Magnet has Five Main Jobs
- A well-chosen name should attract and enhance response of your ideal customer for your core offer.
- Reinforce and strengthen the prospect’s unhappiness with their current circumstances that your product can provide the solution to.
- Solve an initial problem or remove an obstacle for them so that they can see early results to motivate them to ask for more information.
- To establish both your expertise and empathy.
- Positioning so that the prospect will be predisposed to accept your recommendations favourably.
“The way to be successful in marketing is to do what you do so well that people can’t resist telling others about you”. – Walt Disney.
Finally, ask for referrals after you’ve done something praiseworthy for your customer or prospect.
Referrals from a second party, that are satisfied and happy with your product or service, are priceless!
I sincerely hope that you have found value reading this article. Please share the link with others who might be interested in Magnetic Marketing.
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