Helping subject matter experts turn their knowledge into CASH!!!

Resources to Help YOU Build a Thriving, Ethical Information Marketing Business!

The WRONG way to use SCARCITY and the iPhone Experience

Building a Turbo-Charged Consulting Business

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Build Your Info Products Business

This 2 day program shows you everything you need to know about starting and building a successful info products business. Nothing is left to chance.

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In This Issue:

* NEW Audio Product On Joint Venture Marketing
*The Wrong Way to Use Scarcity
* Gambling Experience
* Do you KNOW this person? Is it YOU?
* What a LINEUP!
* IPHONE Experience

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New Product

About a week ago, I had the pleasure of recording a program with Gina Gudio-Graves.

If you haven’t heard of her, and know her work, you need to. She’s known as the JV Queen.

We recorded a very good program on the topic of doing joint ventures. I’ve done another one on this topic before, but she brought a lot of NEW information to the table.

In it’s pre-release version it’s available for just $47 and is a STEAL at that price because of the really impressive amount of useable information she gave out.

This one will sell for a lot more when released. It’s not a long program but the information is incredibly valuable.

She’s THE expert on this topic.

To grab a copy go to:

http://www.on2url.com/app/adtrack.asp?MerchantID=3109&AdID=397956

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The WRONG way to use SCARCITY

Sometimes I get REALLY pissed off. Today was one of those days.

I got this very fancy 4 color brochure from a very well known information marketer. I don’t want to tell you who, but this example doesn’t need more to be understood.

The offer is to get you to buy some material for a price point between $1,000 and $2,000.

Fine so far.

The first page of the offer says that are less than 50 units available. OK.

The total price of the offer is $1500. So, if they “sell out” they will gross around $75,000. I don’t know how many of these they sent out, but I suspect it was quite a few.

If that’s the case, their costs were probably pretty high. I would estimate that the cost of the piece including postage was around $1 a piece.

Given this person is a well known info marketer I don’t think that they want to make a limited amount dollars on a promotion like this. Given that fact, I think there are some problems here.

Here is MY problem with this offer.

DO YOU SERIOUSLY THINK THAT THEY WILL ONLY SELL (under) 50 units? Let’s say they get that an order for the 51st. Will they return the money?

NO F****IN WAY!

I only WISH that I could count their orders or get access to their accounting. By announcing that you only have X number of units available, you have to be telling the truth. If you’re not, you’re lying. Lying doesn’t make long term logical sense.

Once people find out that you do it . . . you’re DEAD!

Now, don’t let me shock you, BUT . . . some information marketers DO lie.

If you are dealing with knowledgeable people, this method of using scarcity (under 50 units) doesn’t ring true. It SMELLS BAD. I don’t believe it. I don’t think many others with half a brain will either.

Will the promotion be successful. Maybe so. Do I suggest that you create a BOGUS scarcity offer? Nope. Lying just doesn’t work LONG TERM.

I made people an offer not long ago for some of my old info product seminar cds. I said I had 27 left. I think we sold 21 or so. If we were to sell the 27 units, the system I have is set up so that it would have rejected the 28th order.

Scarcity is a great marketing tool. I encourage you to use it. I encourage you to use it HONESTLY.

Let’s just say I COULD get access to this individuals records and PROVE to you that they sold twice as many units as they claimed they had “available”. Would you do business with that person?

I certainly would not.

The old choice keeps coming up: make money honestly and play the game for the long haul or LIE and make more money now.

My bets are on long term success strategies.

BTW, if the government authorities could PROVE that this offer was BOGUS they could prosecute. So, not only is it unethical, it’s actually illegal.

Use scarcity but use it ethically. Don’t lie. It doesn’t make LONG term sense.

(I was tempted when I saw this offer to find a way to PROVE this person was lying by getting over 50 people to order the product and have EVIDENCE, but I decided It was impractical. Sorry, I would have loved to share what happened with you.)

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Gambling Experience

On the cruise I just took I played some 3 card poker. I normally play blackjack, but I wanted to try something different.

As is normally the case, beginner’s luck kicked in. I won the first 6 hands in a row. Not bad. The problem? There are two sides to gambling if you are playing to win.

One side is the strategy. How you play the game. Whether or not to take cards, etc.

The other side is wagering.

For some reason because it was a new game, I didn’t do what I would normally do when I play blackjack. In blackjack (which I grew up playing in the casinos of Manila when I was 14 years old) you do a progressive betting strategy.

It goes like this: 2-1-2-3-4-5, then back to the beginning and repeat the process.

In this progression, you plug in your “unit” amount and bet accordingly.

So, if you are betting in $5 units your first bet would be $10. If you win on that bet, you then bet $5. Win on that bet, bet $10, then $20, then $30, then $40, then $50. If you win 6 in a row you then go back to the beginning and start again.

(Note here: being a CHEAP guy I don’t bet the big numbers like my buddy Kevin Hogan!)

In this example, after 6 winning hands you would bet $10 again. Lose that and bet $10 again. Win that hand and to to $5 and start it all over. You always go back to the beginning of the progression when you lose a hand.

Different from blackjack, three card poker also gives you a separate bet that I was playing because everyone else was.

The separate bet gave you additional winnings in the event that you hit a flush or three of a kind. I remember that a straight paid 6:1 and on one of those first 6 hands I hit one. I think it was on the 3rd hand I played.

In the first 6 hands I was up around $100. Had I been using a progressive wagering strategy, I would have been up around $400 or $500. AND, I would have quit on the 6th hand. I’m cheap!

The difference is a factor of about 4-500%. Big difference. It’s not only how you PLAY, it’s how you BET!

What the HECK does this have to do with information marketing?

Good question.

You not only have to play the game correctly, you have to WAGER correctly. In the info products business, what does this mean?

It means that you have both “play” (by play here I mean the mechanics of how you create and market your info products) well AND bet well. But, bet WHAT?

For most information marketers it’s two things: TIME and MONEY!

Every day I get up and have to decide where I will spend my most precious asset . . . . my time. I then also have to decide with various projects whether or not to spend time with this or that one.

I get presented with OPTIONS every day. Some I present to myself and others are presented to me by others.

I have learned how to PLAY the info products marketing game. I’ve done it successfully, continue to do it and teach it.

So, in the blackjack analogy, I know which cards to play and how to play them. I, like everyone else I know, struggles with the WAGERING.

Experience gives me a leg up here, but I’m using my best educated guess on many things.

My computation is based on a few factors:

1. What will produce the greatest amount of revenue for the least amount of work?
2. What is the most fun/enjoyable to do?
3. Who will I work with or have the chance to work with if I make this choice?
4. Does it help me get closer to my long term personal goals?
5. Will it make the best/greatest use of my innate skills?

There you have it!
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Do you KNOW this person? Is it YOU?

I recently had someone PayPal me $1000 as a deposit for an upcoming bootcamp. I emailed this person over and over again and got no response.

I then sent a registered receipt letter to the individual. It came back. I must not have had the right address.

As much as I love to have people sending me cash and checks, I like to give them something in return.

If you are Dr. John E. Williams. Please get back to me ASAP at my direct email address: fredgleeck@gmail.com.

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What a LINEUP!

I’m really excited to have recruited some AMAZING people to speak at the next info products seminar. Take a look at http://www.InfoProductsSeminar.com.

Myself and Bob Bly are hosting this event and we will be doing a series of teleseminars with the speakers over the next few months before the event.

This event is priced (in the opinion of my new buddy Kevin Hogan “ridiculously low”) at under $500 and will fill up SUPER fast.

You’ll want to register NOW before we have even figured out which hotel (what a hassle) we’ll be holding the event at. It will in all likelihood be in New Jersey, but very close to New York City.

Just today I got both Dave Hamilton, the WebMarketingMagician and Glenn Livingston (the online risk reducing expert) to speak. Their names aren’t even up on the site yet!

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Have YOU Got Any Free Content?

If you have any content that you would like to get distributed to a LARGE audience, DO I HAVE A DEAL FOR YOU!!

Here is what I’m up to.

I’ve been working with my friend and colleague Dave Hamilton (also known as the WebMarketingMagician) to create a very cool site.

This site is all about providing people with GREAT FREE useable tools for information marketers. Dave’s the TECH guy and this site is dedicated to helping you with the technical side of the business.

Shortly, there will be a site up to help you with the marketing side of the information product business, but that’s not quite there yet.

Take a look at:

http://www.AbsolutelyPositivelyFree.com

(this is mentioned again later in this insight)

Dave also has a great deal going to help people get
started with WebMarketingmagic.com at:

http://www.shoppingcartsetupspecial.com

Please check BOTH of them out!

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IPHONE

They got me. I’m an Apple guy from the very beginning (having bought my first Apple computer in 1986) and I have been WAITING for the price drop.

So, the other day I stood in line (in the Vegas sun) to have the PRIVILEGE of giving Steve Jobs a bunch of my money.

It’s now been two days and I’m still figuring out how to use the friggin thing. But, it is very cool. Bill Gates is the richest guy, but Steve Jobs still creates the COOLEST products.

I’ll bet that really annoys Gates. Even now.

As I stood in line I kept thinking of how great it must be to get people to LINE UP to buy your products. My total time spent in buying the phone amounted to around 5 hours.

I spent 20 minutes each way driving, 2 hours on line outside the store and then 2 hours trying to get the little sucker activated. Holy crap.

But, I like it. A lot.

Not just because it’s cool, but because it’s functional.

As an information marketer, what can you learn from this?

How can you produce a product that people will stand in line in the hot sun to get? It’s got to be really cool and really functional.

Is your stuff pretty average? Then you’ll get pretty average results.

Ask yourself: What can I do to make this product (or service) so good that people would wait in line to give me money?

Even when you have that in place, you still may not be successful. Why? Because if no one knows about it then it doesn’t matter.

Back to traffic and list building.

That being said I’d like to tell you about a couple of COOL new sites I’ve had the pleasure to be a part of:

http://www.AbsolutelyPositivelyFree.com

Take a look. You need to see this site for a few reasons:

1. There is lots of great stuff on the site that’s FREE!
2. It will give YOU some ideas on how to market your own stuff.
3. You’ll learn a lot.

This is an example of HOW to do things right. Inspired by the soon to be released book by Chris Anderson: FREE, I decided to get a head start on things.

See you soon!

Best,
Fred

Filed under: Ezine

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