Information Marketing Data for Making Good Decisions
Just Back From Vacation
Hi! Long time no speak. I’m just back from a trip to Europe and a week-long seminar at the Omega Institute in Upstate New York. Both were great.
I’m going to have to get this out to you quickly because I’m headed to Orlando early this AM. I give a presentation to NSA’s national convention next Tuesday.
As you may know, I’m a HUGE fan of the The Teaching Company. They take some of the country’s top teachers and record them doing lectures in their field of expertise.
I just got a hold of one on statistics and it’s amazing.
I have a sign up in my office that says: MEASUREMENT ELIMINATES ARGUMENT. This program helps prove that point.
If you’re in a business of any kind you need to understand and use statistics.
A new client, David Bullock, is an expert in the field of multi-variate testing. Often known as ‘Taguchi’ testing. Taking a website and figuring out exactly what your numbers are is critical to online success.
(He can be found (not surprisingly) at www.DavidBullock.com)
Without data you can’t make good decisions.
The basic data you need when running an online info marketing business are a fairly short list.
First, you need to know how many UNIQUE visitors you get to your site. You then need to know the percentage of people you convert to sales. Your fallback position if you don’t get someone to buy from your site it to capture their email address and you’ll need to know the percentage of people who give you this data. Lastly, you’ll need to know the single most critical piece of data: what is your average visitor value?
These four statistics are CRUCIAL to your online success. If you don’t know how to get these numbers yourself ask someone to help you. A high school kid with some web savvy is often a good (cheap) bet.
If you want to find out more about David, go to: www.DavidBullock.com. Make sure and tell him I sent you.
A few months back I did an information products seminar in the UK. It was a great event and I’d like to make you a pre-publication offer on the DVDs.
Here’s the deal. They are currently only in a ‘Pal’ format. In order for me to justify there being converted to an American format, there has to be a minimum number of orders.
There were over 10 speakers and it was almost 3 full days of information. The speakers were not the well known ‘standard’ folks that you hear on all of these types of programs.
They will sell for at least $397, but the prepublication offer is $197 but you must order before July 24th AND I’ll only be selling a maximum of 35 of these at this price. Trust me, they WILL sell out so order them NOW!
Also, please understand that it may take a few weeks to receive them because they have to be both converted and then duplicated.
Trust me on this one, it was a very good program.
Here is the link to PRE-order:
Remember, you won’t be getting the DVDs for about a month and only 35 copies will be sold at this price so get on it now!
Sorry, no website to promote this, but trust me, it will be well worth your time!
In the past month or so I’ve spoken at a lot of events for authors and publishers. They are an interesting group. Most of them have an incredible passion for their subject matter. I applaud that. They are also some of the worst business people (generalization but true) on the planet.
When speaking to these groups recently, I’ve been using the line: ‘Are you in the publishing BUSINESS or the publishing HOBBY?’
You act and treat a hobby differently than a business. Hobbies don’t have to make you money. In most cases they end up costing you a bundle. Ask anyone who owns horses. This is the only hobby I’ve heard that makes you spend more money than you would on developing a workable piece of software.
The SINGLE biggest mistake this group makes is thinking that they can make any real money from a book alone. The answer to that would be a big NO!
To be honest there are FEW exceptions, but that number is VERY small.
The author who wants to make REAL money needs to develop a line of products related to their topic. This is the only way to make book writing profitable.
WHAT/HOW MUCH to ‘Reveal’
One of the biggest problem information marketers have is in deciding how much to reveal about themselves and their numbers.
Tell people exactly how much money you’re making and they will knock you off. There are numerous examples of this. The most flagrant offense I’ve heard of was where a very well known internet marketer gave a presentation at an event. He used one of his websites as an example. Within days there for 5 or 6 people who had ‘borrowed’ his material and had competing products.
This story says a lot.
My friend and internet marketing ‘legend’ John Reese always keeps both his projects and his numbers close to the vest. This has served him well.
The problem is that you often sell more when you disclose what you’re doing and what your numbers look like.
Whenever someone asks me how, where and how much money I make I send them to: www.WhereIMakeMyMoney.com. This gives people a percentage breakdown of my revenue sources but does NOT reveal the actual raw numbers. Like John, I believe those are nobody’s business but my own.
Public Domain Update
I just finished working with a guy in Canada who will be very helpful for you to know about. He’s in the business of helping people to get their books (etc.) scanned into a PDF or MS Word file.
Doing this will allow you to take an existing public domain work and add your own introduction, conclusion and other notes. This is easily done if you get an MS Word file.
In my case, I just used him to take three books that I recently bought at used bookstores and convert them to both PDF and MS Word. Why both? I’m not real impressed with how the older books looked when done in PDF form. Many of them have very old and outdated type which is tough to read.
On the other hand, when you use the PDF version of the file you can put them into WebMarketingMagic VERY quickly and easily. You just upload the file and make it available when people order it.
When you get the book back in MS Word format you can then add your own information and THEN put them into a PDF form.
As I’ve told you about before, there are two types of products that you create. Timely and timeless. These ‘old’ books are great for you to create timeless products. The one that I just completed is a book by Charles Schwabb. Not the one you see on TV these days but either his grand or GREAT grandfather.
If you find a good book at a used bookstore you can start making money very quickly.
I usually go home and immediately reserve (if available) the title of the book I’ve found. I then put up a sales letter site to sell that book. You can then let your list know about the book and/or drive traffic to the site using pay per click or other means.
Here is Paul’s contact info:
Discount Document Scanning
26 Moss Blvd., Unit # 23
Dundas, ON, Canada
Phone/Fax: ( 905 ) 628 – 0094
My Dad died last year. He was almost 93 and had lived a very full life. We were close but luckily his philosophy as a father was to create an INdependent child rather than a Dependent one. Although I was sad when he died, I wasn’t devastated because he had lived life on his terms and left me with a great set of values.
One of those values was to AVOID ‘comparative thinking.’ It’s tough to do and I still catch myself making the mistake.
Growing up hoping to play golf for a living my father used to always remind me that no matter what you do you will always be able to find someone that can do it better than you.
The only exception he pointed out to me was when Mark Spitz won 7 gold medals swimming in the Olympics. He explained that at THAT MOMENT he was the BEST swimmer.
He noted (correctly) that his records would be broken by another phenom and that in 15-20 years others would not be able to recall who Mark Spitz was. How true.
Given this philosophy he encouraged me to only compete against MYSELF. He explained that if you were in constant competition with others you would always be disappointed.
If you compete ONLY against yourself, you’ll make yourself a lot better at anything that you choose. This is a much better way to do things than trying to compete against someone else.
Lots of implications for both business and life.
YOU May Not Be Your Audience
I just got an email from someone who attended one of my recent ‘gigs’ in San Francisco. She took about 300 words to tell me everything she thought I had done wrong. I always read these and always look for a kernel of truth.
Sometimes I find some good stuff, other times, NOT.
This was a NOT. How can I say this? The items she listed
had been tested. When I make changes to how or what I present on stage I note the sales that happen. Do they go up, down or stay the same.
When I used to teach for CareerTrack (many moons ago) they used to make us hand out evaluation forms. This combined with the sales numbers gave me a very accurate picture of how I was doing. The numbers don’t lie. Thankfully, I was always #1 in all the topics I did for them. Both in speaker ratings and in sales.
The issues that the lady brought up in her email to me were interesting because I had been a little bit wary to include them in my presentations. After including them, they increased sales.
I suspect it goes back to the old concept of having to really piss a few people off to get the rest of the folks to like you.
What she was complaining about did hit some nerves with her, but it INCREASED sales for me.
How I Write These Insights
Someone recently asked me how I write these regular ‘insights.’ The answer is that I have a notepad on my laptop that allows me to jot down my thoughts quickly and easily.
When I feel that I’ve written enough to justify ‘disturbing’ you with another email, I send it out.
My unsubscribe rate is VERY low and I suspect it is because of the fact that there is almost always some good MEAT and SUBSTANCE when I send them to you.
What do I write about? Anything that comes up. I keep the notepad open and make entries as often as I can think to do so during the day.
Since I’m on my laptop a LOT, this gets pretty easy to do. It’s also becoming a habit, so it gets easier as time goes on.
I’m convinced that this discipline of daily writing for either these insights or for a book I’m working on has been invaluable. I encourage you to do the same.
The one question that people always ask is whether or not I’m worried I’ll ‘use up’ all my ideas. The answer is no. If you’ve got a business and things come up, you share them with people honestly, directly and openly.
This system works for me. Try it.
They are Dropping Like Flys
I just saw the latest example of how money often corrupts otherwise nice, normal and sane people. A (formerly) good friend of mine just got ‘sucked in’ by the flim-flam men/women.
You know who these people are. I don’t have to name them. I’d love name names, but my legal folks won’t let me.
They are the ones who you see making outrageous claims and delivering very little to their audience. We’ve all known about this, but I’m really surprised at the recent defection I’ve seen. This was an individual I knew (or thought I knew) very well.
He was obviously seduced by the dollars that these folks end up making my promising half truths and delivering less.
What a shame.
Oh well, that’s how things go.
See you soon!