Money Magnets

Continuing our journey through Kern’s “Mass Control” course it does seem to me that Kern strikes big when he discusses what he calls “Money Magnets”. The most important contribution of this course – insofar as it is developed by someone who actually makes money online and not by some geek giving students a lecture on digital marketing in an university – is Kern’s discussions on the interaction between buyer’s psychology and digital marketing. In other words, the undigging of the reasons why people buy stuff.

On this topic Kern’s video of money magnets is a really powerful one. He distinguishes 4 different categories of buyer’s journey: interest and desire, bonding and trust, proof and samples. In this article we will discuss this topic.

Interest and Desire. Interest and desire is the first stage of any relationship. We need to through the things we say or the way we look attract people to whatever we are selling. Having a catchy headline or a highly efficient design will, in practice, captivate people’s attention.

Bonding and Trust. The second stage of building a relationship is via bonding and trust. One needs to get people closer to us and this needs to be achieved by providing further information about us. Who we are, what we do, how we do it. Anything is important to get people to really opt for our brand instead of another. Create bonds with a potential customer basically means opening our doors to them.

Proof. This is the third stage of the relationship. Even though they acknowledge our product or service and are kind of aware of who we are – and identify with us somehow through this bonding – we need to be good at what we do. We need to provide proof and evidence – either personal or social proof. Personal proof is me discussing whatever I have accomplished. Social proof means getting other people to confirm my achievements. Social proof is really important – especially if the person who provides this proof is recognised.

Samples. The last stage of Kern’s money magnets are “samples”. The functionality of the sample is for the client to physically or emotionally experience what he or she will get.

The way Kern describes money magnets seems to me to resemble a relationship. And that’s the way I presented his money magnets in this article. We first impress, then we create bonds, then we say how good we are – and this is even better if we are surrounded by our friends who clearly confirm how good we are – and finally we give a physical sample away to further solidify our proof.