What makes a product name truly magnetic to potential customers? How can you craft an offer that speaks directly to your target audience’s deepest desires?
Alex Hormozi’s MAGIC Formula breaks down the art of creating irresistible offer names into five key components. This proven strategy helps business owners develop names that capture attention, communicate value, and drive sales through psychological appeal.
Keep reading to learn about each element of the MAGIC Formula.
Alex Hormozi’s MAGIC Formula
Alex Hormozi’s MAGIC Formula is one of his strategies to increase the psychological appeal of your product. It’s all about creating a compelling offer name. A well-crafted name can not only capture attention but also clearly communicate the value and urgency of what you’re selling.
The “MAGIC Formula” is an acronym that represents five strategies for creating a good name: Magnet, Avatar, Goal, Interval, and Container Word. Said another way, you should create an attractive theme, target specific customers, appeal to deep desires, define the time frame, and evoke uniqueness. Hormozi recommends using three to five of these to keep your offer name succinct and memorable. Let’s explore each of these in more detail.
Magnet (Create an Attractive Theme): Make your offer more intriguing by coming up with a special occasion or a themed promotion, such as a “Winter Solstice Sale.” This provides a compelling reason for customers to engage with your offer.
Avatar (Target Specific Customers): This part of the name specifies what kind of customers your product is meant for. Tailor your offer’s name to resonate with a particular demographic or interest group. A more “local” name tends to be successful. For example, you might advertise your lawn chairs and outdoor gear to “Soccer Moms of Waterville.” This specificity makes potential customers think that the offer is crafted just for them.
Goal (Appeal to Deep Desires): Use words or phrases that evoke your targeted customer’s deep desires. For example, you might include the phrase “Effortless Marketing,” which directly speaks to the desire for a simple solution that will facilitate the customer’s business success.
Interval (Define the Time Frame): Be specific about the time frame associated with the offer—how long the offer will be available or how soon the customer can expect results. For example, you might advertise a “Memorial Day Weekend Sale” or include the phrase “Double Your Clients in Six Months.”
Container Word (Evoke Uniqueness): Choose a term that encapsulates how unique your bundle of services or products is and suggests that what you’re offering isn’t just another commodity. Exciting words such as “Booster” or “Revolution” can convey the transformative nature of your offer.
Combining a few of these elements will lead to compelling offer names such as “10K Club: High Ticket Client Accelerator,” “Luxury Valentine’s Escape for Newlyweds,” or “72-Hour Black Friday Cyber Blitz.”
| Tip: Tell a Story With Your Product While an interesting name is a good way to attract customer attention, some experts would argue that it’s only a start and that the way to really catch people’s interest is to tell them a story. In All Marketers Are Liars, marketer Seth Godin argues that traditional marketing (such as commercials, slogans, and jingles) is outdated. He instead emphasizes the importance of storytelling in marketing, asserting that good marketing involves spreading ideas through compelling narratives that resonate with consumers across various fields such as product marketing, dating, politics, and job hunting. The power of storytelling lies in appealing to people’s emotions and beliefs, shaping their perceptions, and influencing purchasing decisions based on emotional connections to your product, your company, or even you personally. For example, Elon Musk’s company Tesla found strong initial success by telling potential customers stories about how Tesla would save the environment with innovative new electric car technology. The implication was that Tesla’s cars would help bring about the end of traditional gasoline-powered vehicles (and their harmful emissions). |
