The 7 Biggest Information Marketing LIES
The 7 Biggest Information Marketing LIES
1. You Can Get Rich Overnight
Not gonna happen! Although you’ll hear a lot of hype and BS about how you can make millions in 30 days flat, it’s just not accurate. Are there some people who have made BIG bucks virtually overnight? Yup. Is this the RULE? Not at all.
Take a look at my site, www.BillionsInMinutes.com for a comical look at this topic.
Can you make a good living in the information marketing business? Absolutely. But don’t delude yourself, like any business, it will take TIME to build. The majority of that time is spent in building your list. The bigger the list, the easier it will be to make a lot more money.
2. You Won’t Have to Work Much
Now that you’ve read the “10 Minute Work Day”, you’re convinced you can camp on the beach and check your bank account every so often to see how many millions have been put in.
Like with any business, the first few months, weeks or even years will be tough. Tougher for some than others, but tough. It’s OK because AFTER you put in your time and effort, you will be able to relax later on. BUT, if you’re working with a topic you really enjoy, will you want to slow down and do less?
As it turns out, I DON’T! It’s a lot of FUN to work HARD at something your really enjoy.
3. Information Marketers Always Give You the “Straight Scoop”
You’re subscribed to a lot of people’s lists. They appear to have it all together. They must be really successful. At least that’s what they tell you. It’s been my experience that MOST information marketers don’t make a fifth of what they say they do.
Don’t compare yourself to others. If you’re using THEIR numbers, chances are they are HIGHLY inflated. Net result? You’ll be discouraged. Don’t be. Put your head down and WORK!
You’ll get there. But it will take time. Don’t believe the HYPE marketers who will tell you anything to get you to buy their product or follow their system. They lie!
4. The Product Doesn’t Matter
In the mid 90s I went to a seminar put on by the protege of one of the best known marketers in the world. I’ll call him Mr. BIG. I was sitting there when I heard this line: “Don’t worry about returns, your product quality doesn’t really matter.”
The seminar leader went on to tell us that you just have to “tolerate” high rates of return if you’re going to make any money in this business. I was flabbergasted. I thought I had entered the TWILIGHT ZONE!
I could count the number of returns I had gotten on two hands. This was BEFORE the internet. Now, people return stuff without thinking.
Your Product DOES matter. Don’t forget that. Pack it with content. Make it easy to use and understand. Don’t make people have to buy the NEXT product to get the answer. Do the RIGHT thing.
5. Interviewing Experts is Easy
I review a lot of products. Many of them are interviews conducted by the product producer. Most of them are awful. VERY few people know how to interview well. This is both an art and a science. I suggest you take a look at ExpertInterviewer.com for more help on this topic.
If you’re going to use the interview method to create products, don’t assume that you know how to interview people. It’s NOT easy when you first get started. I’ve now done close to 2,000 interviews. After you do them that many times, it does get easier.
If you’re just starting out, learn how to do it right if you’re going to produce products this way. This is a talent that can be learned (somewhat) and must be PRACTICED to be PERFECTED.
6. High-Priced Products are the ONLY Ones to Sell
My friend David Oliver (www.BiPolarCentral.com) and I had this conversation not long ago. He was telling me about how Mr. BIG (same guy as above), was telling people that the only way to make BIG money in the info products business was to sell HIGH PRICED products exclusively.
Sure, you should have high priced products available, but you have to understand the FUNNEL SYSTEM. People who don’t know you are very UNLIKELY to make a BIG dollar purchase right off the bat. That’s WHY the funnel system works.
You need to have products that are extremely cheap and then develop a LINE of products that go all the way up to thousands of dollars. Don’t believe the lie that the only way to make money is to ONLY sell high priced products. That’s just NOT accurate.
7. The ONLY Way to Make Money is to Get “in” with THE group
There are a group of information marketers who all hang out together. You’d know many of the names of these folks. Almost all of them are followers of Mr. Big. They worship this guy. He can do no wrong. When his name is brought up, people have the urge to genuflect. Many actually do.
I think (more accurately I KNOW) that this individual has questionable ethics. If you get in the IN GROUP, you’ll have a guaranteed steady flow of customers who will buy your products. BUT, is it worth it to compromise your values?
My answer was NO.
Has this decision hurt me? You bet it has. BUT, I’ve built an ethical business that doesn’t rely on the incestuous practices this group uses to sell products.
This is a choice YOU have to make.