$100M Leads - Summary and review

The full topic of the book is '$100M Leads: How to Get Strangers To Want To Buy Your Stuff'. In typical Alex Hormozi fashion this book is straight to the point, easy to read, and tells interesting stories that you learn from.

It's quite cool that Hormozi is well respected within the SaaS and tech scene, but also comes from grinding sales and building several services-oriented businesses from the grounds up. Initially with a focus on helping launch gyms - and generating leads for them as a service.

Also, having built several 7-figure businesses, such as United Fitness, Prestige Labs, and Acquisition.com. And growing social media channels into millions of followers - he knows what he talks about.

TLDR; Hormozi is a man to trust when it comes to how to generate leads.

The book 100M Dollar Leads is a playbook to help solving your leads problem. Alex Hormozi does this by giving the exact frameworks he uses to get +20,000 leads every day. And how he gets strangers to buy $200M worth of his products and services every year.

These frameworks applies whether you are running a SaaS, service, hardware product, or consultant firm.

It’s hard to be poor with leads bangin’ down your door

- Hormozi

Let's dive into the content.

Hormozi started out by helping launch gyms - and generating leads for them as a service. Eventually, he found that instead of doing the launching - he could charge a ton of money for the secrets of how to do. So instead he started offering paid courses and material on what he himself was an expert in. This is what became his first big successful company Gym Launch (exit of $46M).

I cannot loose if I do not quit.

- Alex Hormozi

If you have the same number of customers but you double the prices -> you double the value of your business. This is why pricing is so key - especially in SaaS where you charge a recurring fee.

If you double the amount of customers -> you also double the value of your business. Thus, there are two ways to grow your business; either by:

1. Getting more customers

2. Making them worth more

This book will focus on how to get more leads and ultimately how to (1) get more customers.

You get more customers by doing this. Either you get:

1. More Leads - reach more people with your message and grow your top-funnel

2. Better Leads - qualify to make sure to get the right people in (with money and timing)

3. Cheaper Leads - lower your CAC (cost of acquisition)

4. Reliably (get leads from lots of different places, not just SEO, or paid ads for example).

Hormozi defines a lead as "a person you can contact". This could be:

• An email list you buy

• A LinkedIn connection

• A website visitor (if you get their contact information)

• A person in your co-working space

However, an engaged lead is "a person who shows interest in the stuff you sell", ie. someone who gives you their contact information. For example:

• A demo signup

• A webinar registrant

• A newsletter subscriber

The leads that show interest are the leads that matter. And engaged leads are the real output of advertising.

In SaaS, engaged leads are often referred to as warm leads. As opposed to cold leads that never heard of you.

Getting leads works only by giving people something they want. First some basics on what a lead magnet vs offer is, and some examples of lead magnets.

Offers are something you promise to give in exchange for something of value.

If you are selling expensive stuff B2B - you might not be able to have your core offer ie. what you exchange for money upfront. You might instead want to advertise your lead magnet ie. a complete solution to a narrow problem.

A lead magnet could be a free tool, an e-book, a webinar, or similar. Here is an example of a free LinkedIn Preview Tool I have built that work as a lead magnet to find my website, get some free value, and associate me, Jonathan Rintala, with providing it.

Two words of wisdom from Hormozi:

• Your lead magnet should be valuable enough on its own that you could charge for it.

• A person who pays with their time now is more likely to pay with their money later.

Step 1: Figure out the problem you want to solve and who to solve it for

The first step is picking the problem to solve.

Start by picking a problem that is (1) narrow and (2) meaningful. Then solve it. Then simply follow the problem-solution cycle. And solve the new problem that follows. When we solve one problem, a new problem reveals itself.

Example:

Imagine we have built a webinar platform called Univid (yes, I happen to have founded it). We help marketers deliver more engaging webinars. But, what are some things around the webinars they need help with. For example:

• Finding the best time to host a webinar -> free webinar scheduler tool

• Figuring out the right polls questions to ask the audience -> free polls generator

• How to market the webinar -> blog post guide

You can solve these adjacent but narrow problems, by free solutions and turn them into lead magnets. Put a lead form to access a downloadable version of your guide, or simply plug your core offer with a clear CTA near your free tool.

Step 2: Figure out how to solve it

You can solve this narrow problem by either

1. revealing problems: think "doctor" and diagnose their problem.

   1. Example: Show what a slow web page loading speed looks like, or a tool to show what their bad posture looks like.

2. offer samples and trials: give full but brief access to your core offer - limit the number of uses, time with access, etc. Freemium, or reverse trials have become popular in SaaS.

   1. Example: You can use a webinar platform with up to 20 registrants per month, when increasing that limit, or if you need integrations to CRM, etc. you have to start paying.

3. one step of a multi-step process: when your core offer has steps, you can give one valuable step for free and the rest when they buy.

   1. Example: offer free financial guides, calculators and templates. They can now do it all, but it also reveals the time and effort of doing it all - so you present your core offer financial services to take care of it all.

Step 3: Figure out how to deliver it

I'm a software engineer so I like to create lead magnets by using (1) software. You can also do it by (2) information, (3) services, or (4) physical products.

(1) Software could be giving away a LinkedIn Preview tool, or a Polls generator. Or a spreadsheet they can use to calculate the cost of their current problem. Nowadays, ChatGPT and AI assisted software makes this a lot more accessible and fast. I put together the LinkedIn Preview tool in less than 4 hours.

(2) Information could be teaching your leads something - courses, lessons, expert interviews, keynotes, live events, mistakes and pitfalls, hacks/tips.

Step 4: Test what to name it

If you have the option - A/B test different (1) titles, (2) images, and (3) subheadings to see if people engage. Then you can proceed with the winner.

For example, you can run IG polls, polls in webinars, or run split testing through a tool on your website and analyze conversion.

Step 5: Make it easy to consume

Make it fast and easy. People prefer things that take less effort.

My LinkedIn Preview Tool sits on a ultra fast Next.js code base. It's also adapted to mobile phones, and computers. And you can do it without an account, or downloading anything. You just need a browser.

You can see big increases in conversion rates, simply by making your lead magnet easier to consume.

Step 6: Make it darn good

You want your lead magnet to provide so much value people feel obligated to pay you. If it is not valuable enough or just fluff, they will not convert or tell anyone about it.

Even worse, if it is too little value - they will also associate your brand with this, and tell others to not buy from you.

The golden rule: provide more value than the cost of your core offer before they’ve bought it.

Step 7: Make it easy for them to tell you they want more

Provide clear a way for the leads to convert and tell you they want more. You typically do this via a Call To Action (CTA).

The CTA tells the audience what to do next. And good CTAs have two things: 1) what to do and 2) reasons to do it right now.

Here is an example of a CTA for my LinkedIn Post Preview tool, where I give people an easy way to connect with me on LinkedIn (and build my following there).

Coming soon..

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Well, $100M Leads is not the first book by Alex Hormozi. In 2021, he also authored the number #1 top seller $100M Offers. A book that talks about how to create offers so good your prospects cannot say no.

So, if you think the summary of $100M Leads above is not enough - you can also find the PDF or Epub versions at Amazon, or your nearest bookstore.