Information Marketing Negotiating Tactics
I just got off the phone with a guy who owns a very big information products business. They are in the business of selling other people’s (like you and me) intellectual property in the form of information products. We decided to do a deal together. I asked him what were the standard terms that he gave other info product marketers. He told me 60-40, his way. I replied, make it 70-30 YOUR WAY! He was kind of shocked. Why would I offer to give someone a larger piece of the action? Have I lost my mind as an information marketer or am I just plain stupid?
Good question? The answer lies in the relationship I’m trying to build. Information marketing is all about building solid relationships with ethical partners. As you’ve heard me say before, they are in short supply these days. I used the line recently that I would be hard pressed to find very many info product folks that I would let guard a $5 bill. Not much confidence in the group of information marketers as a whole.
In this case I want to build a solid, long term relationship. I doubt that any other information marketers or info product marketers of any kind have responded this way to him. I also alluded to the fact that by offering him an extra 10 percentage points I was hoping that I would be better promoted. That’s only fair.
If you are working with the right people in the information marketing business, don’t be afraid to GIVE UP some money to build the relationship. Besides, my primary goal is to capture email addresses of the greatest number of people. I offered to give him something free to give to any and all of his visitors. He seemed interested. They are running North of 20,000 uniques a month at this point. Think I may be able to capture some valuable names? You betcha. Think I will be higher on his Christmas list than other info product marketers? I sure hope so!