Information Marketing JV Partner Webinar – November 16, 2011 (Transcript Available)
Fred: Okay, it’s 1 o’clock, so here we go. Thank you everyone for being here and just wanted to let you know that we do these every week, same time, same channel. One of my biggest frustrations is the fact that there were over a hundred people registered for the event, and I see a substantially lower number than that actually on the webinar, which is always confusing to me because I don’t know what the heck is going on.
But there is one thing that’s clear, which is the people that come on here obviously get a lot of information that’s usable, so I’m hoping we can do that again today.
The purpose of this is to work with my existing joint venture partners, which there are a number of them, close to 10 now and to help them resolve any issues that they have, which, in turn, will help you with your information marketing business. So, with that said, I am now waiting. I know we had a couple of folks who are going to be on the call that aren’t here yet, so I’ll go ahead and sort of get started on my own here since they aren’t with us yet.
I wanted to sort of alert you to a few things, which are – one of my joint venture partners is Avish, and Avish’s site is speakingexpert.com. We’ve been doing a lot of talking. I see that we have Dave Hamilton joining us shortly. He can’t hear me yet, but – Dave, I can hear your coughing. How are you?
Dave: Hey, Fred.
Fred: Yeah, so you and I are the only ones on at this point. One of the things I was doing is I was just showing people, as you can see, I was showing people Avish’s site there. What’s the latest on – can we show them your screen yet or what’s up there?
Dave: The latest about what?
Fred: Well, about the authority sites.
Dave: Oh, well, I’m not sure what you mean.
Fred: Is it ready for prime time? Can we show it to people?
Dave: Well, we can show them Authority Sites 101, for sure.
Fred: Okay, 101.com. Okay, so tell us what’s been going on here.
Dave: Well, we’ve been just refining the process of building great-looking sites for people very quickly, and we’ve got the technical side down to a science and really the only thing people need to do is organize their content. Most of it falls neatly into a line of great-looking welcome page, then an about, a blog, products, things like that. But we have a form for them to fill out. It’s right there on the site, and it’s funny Fred. One of your clients for your and Bill’s site contacted me and we walked through and she’s organized her content, but I think we’re going to have a site up, done, ready to go with shopping cart, autoresponders, everything probably in about five to seven days.
Fred: Got it. In a week, certainly, in one week, you can have a good-looking site?
Dave: Yes, that’s with the professional banner design to go along with it.
Fred: By the way, remind me to tell you that Kayla, my step-daughter, has got some real artistic ability and we were showing her some stuff, so she may be contributing to your design work.
Dave: Hey, that’s awesome! That’s great!
Fred: Yeah, she’s a pretty talented designer. Anyway, now, the one that we’ve been talking about ongoing on this call is something that – and I see Bill DeWees is about to get on, so we’ll talk to him here in a second. So as soon as his audio becomes available, I will – Mr. DeWees, can you hear me?
Bill: Yep, how you doing, Fred?
Fred: Good, how are you?
Bill: Good, thank you.
Fred: I’m going to pull up your site here. We’ve been talking to Dave. When is the new site design going to go live?
Bill: Don’t know.
Bill: Hopefully this week.
Fred: Oh, boy.
Bill: Every day there’s always something else I’ve got. I have to keep feeding information. I’ve got another e-mail from Irmel that I’ve got to respond to, which won’t happen till late tonight. But the good news is all the backlinking is taking place and our rankings continue to move forward.
Fred: Oh, really? Give me an example of a keyword here, and we’ll check it out.
Bill: Okay, well, voiceover training would be good. By the way, I’ve got to leave in about 2 minutes. I’ve got two client projects due in the next hour, so I just wanted to give you a heads up.
Fred: Hardest working man in the voiceover business.
Bill: Oh my gosh, let me tell you. Think twice if you’re going to make a 6-figure income in the voiceover business. No, I love it.
Fred: Now where are your here? I don’t see you on page 1. Was it page 2 that you…
Bill: It should be page 2.
Bill: Last I looked, it was page 2, page 2 with the bullet.
Fred: Yep, right here. I guess that’s listing #14? Does that sound right?
Bill: Yeah, it was 20 last I checked a couple days ago.
Fred: Moving up!
Bill: We’re moving up.
Fred: Good deal. Yeah, good stuff.
Fred: Okay, so then, anything new to report on the voiceover training front?
Bill: Well, yeah and I don’t know, maybe Dave’s already mentioned this. I see he’s on, but Dave’s been working on the audiobooksuccess.com site, which we will soon be launching a new product.
Fred: Audio book success? Can we take a look at what it is so far? Let’s take a look there.
Fred: Okay, so tell us, both of you or one of you, about this and what’s going on here.
Dave: This is going to autoplay here in a second.
Fred: Oops, oh, look at your face there, Bill.
Bill: Scary, huh?
Dave: A voice for radio – or a face for radio.
Bill: It’s certainly the most – eyes are rolling into the back of my head, yeah.
Fred: Yeah. Now tell people again what this is about. This is taking your – the videos from your audio book seminar that you did in Chicago, and you’ve put it behind a paywall so that people have to pay to go see it, correct?
Bill: Yes, sir. We’ve got seven videos on there.
Fred: Got it. Dave, is there some secret, special area that I can get past the paywall and show people what that looks like?
Fred: Want to send it to me in the chat window?
Dave: Yeah, let me do that.
Fred: So what we’re doing, folks, is showing you what Dave has now done. The whole idea here is that, for example, I just – somebody sent me out a sample of their product in the mail. It was eight DVDs. It took five days to get here, and it’s big and bulky. Whereas with Bill, people can certainly order his DVDs and get them in the mail like that, but they can also get immediate access to the material online. Bill, if you’ve got to run, go ahead and run. I’ll just stay on with Dave here.
Bill: Okay, my apologies. It’s just crazy here.
Fred: Gotcha. Cool. I’ll talk to you soon.
Bill: We’ll talk to you, alrighty, bye-bye.
Fred: Bye. That’s because Bill’s material actually works, so he’s a working voiceover artist. That, which you gave me, which I now remember, do I go to /members here?
Dave: Yeah, if you click on the banner, I just haven’t put the link, but yeah, you can just type members.
Fred: Okay. I know that for this purpose, I can put in the username, right?
Dave: Yeah, that’s fine. That’s fine.
Fred: Okay, so I’ve typed that in. I’m going to remember the password, yes. So now we’re back behind the paywall. People would pay to get here and so these are all the videos on the left-hand side, correct?
Dave: That’s correct.
Fred: Just a quick stylistic thing, Dave, I would change the color of this seminar videos. It’s gray as well. I would make it red or blue or maybe a deeper blue to match right above near Bill’s first name here. Make it that color because it blends too much for me.
Dave: Yeah, no problem.
Fred: Now I can click on any of these, right?
Dave: Yeah, absolutely, absolutely. Again, this is something — well, I’ll let you take a look at it, but…
Fred: So people go there. They can now access the video and then make comments. Let me click on it here, and I know he has a standard little thing that he does. This is behind a paywall, and this is…
Fred: That audio kind of sucks.
Dave: Yeah, it comes and goes. It has a lot to do with the proximity to a microphone. But the whole…
Fred: Stop, stop, stop. Dave, hold on. This quality of the audio for his business is not good enough. This is not good. He’s got to change this. He’ll get people really unhappy with this.
Dave: Try another video. I don’t know if it’s just that one.
Fred: Huh, because that’s awful. I mean his material is great, but you see he’s got a Lavalier on him, and that lav is not coming in for some reason, so I don’t know what happened there, but man, we’ve got to tell him about that because that’s – something’s not good there.
Fred: Make a little note to send him an e-mail about that one and I forget. That was Bringing Yourself to Script.
Dave: I think that was the third one.
Fred: Again, I don’t understand. Yeah, you know what? Something’s going on here, and you’ve got to let him know because what I suspect is that this audio track was getting pulled from somewhere other than where it should be.
Dave: Yeah, like his computer or that mic is too far away. I agree.
Fred: Yeah, I mean this is – now this is a good example of where – and let me just put this in here as one of the key issues, which is when you record a seminar or interview or other info product, make sure that you test all equipment multiple times in advance.
Now the problem here is and in his defense is that he was not able to get someone. I think he used a student that he paid $150 for and this is why I, in the long run, always like to – I like to own and use my own equipment because of two reasons. Number one: You get to know it and two, it’s cheaper and there’s not a whole lot that can be bad about owning and using your own equipment.
Now when you first get started, obviously, you don’t want to do this. It’s a pretty big investment, but there’s a bunch of stuff on my site, fredgleeck.com that’ll show you what to get and how to get it and everything else.
Anyway, for the purposes of our showing what Dave is doing for Bill, it’s irrelevant, but I mean the video, obviously, can be put behind – like, for example, I have sitting in front of me as I sit here in my room right now, I’ve got an 8 DVD program sitting in front of me that the guy had to send out by mail. Instead, he could have done exactly what Dave has done for Bill here, which is to take each one of these components and to put them behind this paywall, as we call it, this area in which they have to pay to get in. If they do that, then they get access to all these videos or you can make it just one video and do anything you want.
The idea here is that it really, really shortens the time. the other thing is, and this is one thing, Dave, that I’m recommending that Elliot and Bill and all the other JV partners do is the following, which is they can pay – people can pay to get access to the site and then they can pay to buy the DVDs or they can pay to get both because some people want to get the information right now, but they want to have the DVDs right there with them for later. I would give people three options, either just watch it now online, that’s #1. Number 2, just get the DVDs by mail, or #3, get all of those options.
Dave: Agreed, agreed, and I’m finding more and more people that have – there are seminars going on all over the place. There are people with recordings from either audio or video and nobody knows what to do with it. Nobody knows how to package it or sell it, and this is just an easy way to do it. The other thing I e-mailed you about that I think on the last webinar or since then, you sparked the idea about the automatic Kunaki delivery and Kunaki for listeners, that’s the company that will – you upload DVD or CD graphics and the content, and they will package, print, and deliver incredibly professional for a dollar per DVD, I mean just insane prices.
Fred: Well, here are the prices. Let’s take a look. The prices are if you get – this is for one, let’s go to DVD here, if you can see this. For one DVD, one quantity, state, let’s put in Nevada, since I’m out here. That’s far from where they are, I think in Brooklyn. Zip code, I’ll put my zip, 89012. Show invoice with shipping, okay, so it costs you $1 for the production of the DVD, which includes the DVD with a case, and I could change it, make it DVD case, show invoice as well. It’s going to be the same price, I believe.
It’s literally the DVD, the DVD case with the artwork, four-color art, with the DVD inside, with the artwork printed onto the DVD itself, and all of that costs a buck! The $5.30 you see here is for the product and shipping. The bulk of your cost is in shipping here, but they do that now.
The interesting thing to me, watch this, everybody. This is nuts to me. The only thing I’m going to change here is the quantity. I’m going to go from one to 10. Now right now, remember, the unit cost per DVD is a dollar. Look at that, right here. Watch what happens when I do this. It’s crazy. Now the unit cost went to a $1.60. I don’t know what kind of business model they’re using, but the more units you buy, the greater the cost per unit. It’s crazy, but they’re basically discouraging big orders.
I mean this to me is – I don’t know what’s going on, but anyway, it makes it really easy, especially if you’re just starting out and you’re doing limited quantities. Go to kunaki.com, but one of the things that Dave is trying to do is go ahead, Dave.
Dave: Is automate that process too, meaning somebody comes to your website, clicks the ‘Buy’ link and they want a DVD shipped to them. Well, currently, you have to manually get that and either put a DVD in an envelope and go to the post office and send it, or you have to go login to Kunaki, type in their address and contact information, everything, and they’ll ship it out.
What I want to do is bridge that where they click a ‘Buy’ link. They say they want the physical DVD. They pay and then you sitting on your couch, get a notification that Joe Smith ordered a DVD and Kunaki received it. It’s being shipped out in 2 days.
Fred: Okay, so how close are we to making that happen?
Dave: I’ll be honest. I need a guinea pig. I’m trying to – nobody has a Kunaki product ready. I would be testing now.
Fred: Avish, you’re on the system now. Can you hear me?
Avish: Yep, I can hear you.
Fred: Can you be a guinea pig?
Avish: I don’t have anything on my Kunaki yet.
Fred: Okay. Now let’s explain to people who are watching this what Kunaki is. Kunaki is in the business of duplicating DVDs and mailing them out, DVDs and CDs. They do it really cheap and they will make it so that you can get custom artwork, etc., etc. Go to this site at kunaki.com, Frequent Questions, and take a look. There’s a whole bunch of different stuff. They’re not set up for anybody who wants good customer service, but wants it cheap. Take a look at all their FAQs.
I love this. What is bad about Kunaki? Kunaki is not for everyone. Kunaki operates more like a machine than a business and does not offer a personalized service. We don’t engage in active marketing , sales, or public relations. We never offer discounts or special deals. We don’t offer affiliate or partner programs. The Kunaki machine is operated and managed by software rather than a management team.
So, if you’re looking for high-end touchy, feely stuff. This is not for you. If you’re looking for cheap duplication and shipping of DVDs and CDs, Kunaki is the one. Dave, explain to people why you’re looking for a guinea pig. Why does Dave need a guinea?
Dave: Well, honestly because I want to show people how awesome this is, but I don’t want to create a dummy product. I mean I’m about to. I’m about to create one for my dad or for myself or whatever, just to show people how it would work, but the – like you said, Kunaki is not easy to work with. I mean there’s no customer service and the integration is tricky, but once it’s done, it’s done. You don’t have to touch it, and then you talk about four-hour work week where you don’t have to lift a finger, literally Fred, and this is no joke.
That thing that I showed you with Bill, that seminar he recorded. He gave me the video or he had the video produced, edited and whatnot, but in one day he said, “Dave, I’ve got all these video files. What do I do with it?” I said, “Okay.” In like 48 hours, we had that site done, and it was connected with his 1ShoppingCart or Web Marketing Magic where people could buy and get access just like that, so he could market to his list instantly.
Well, the next step is give me the videos on a DVD and he just provided those to me. I did some – I showed you the DVD graphics, didn’t I?
Fred: I think you did, yes. Do you have those sitting around?
Dave: It was a blue with a microphone.
Fred: Yeah, yeah.
Dave: So it’s ready to upload and get in an automatic system where people could have – an automated system where people are able to watch it instantly, are able to have a DVD shipped to them, or both, like you said. It’s going to be big and after a while, I won’t need guinea pigs because we’ll have a portfolio and this is a service we’ll offer people, but right now…
Fred: So how do people contact you if they want to be a guinea pig? Dave@wmmagician?
Fred: Okay, well, before I get to Avish, put you on hold for a second, Dave, I wanted to show everybody, we launched last night a program with Bill O’Hanlon and here it is, therapyaudiodigest.com launched. This launched last night, and the whole idea here is we have a monthly audio summary for psychotherapists.
We launched this last night. The cost – and this is sort of something I want to share with the group here. The cost of membership, they basically get a 30-minute member – 30 to 35-minutes, let’s say 30-minute audio for download or consuming online every month for either as a Charter member. We set them up. Charter member means that they get this price because they’re just first getting on board, so $9.95 per month, so that’s the Charter membership rate.
Then we’re going to have sort of some kind of an intermediate rate, early adopter rate or whatever we’re going to call it. That’s going to go for $14.95. Then we’re going to have sort of the Standard or the Regular rate for $19.95.
I can say that first off, Bill is a fairly well-known entity in that business, in the psychotherapy field, and if you click on ‘Free Sample Issue,’ it shows you exactly what it looks like. Here is this. Click here to listen and you can hear it. Then you can start your subscription and subscribe. Here’s a transcript. Every month they’re going to be able to get to this and in doing so, look at the – oh, we’ve already got comments. Great. Excellent. I’d better submit a comment here, yeah.
Eight comments so far. Blah, blah, blah, there’s lots of great stuff going on here, and as of last time I spoke to Bill about an hour ago, we’re up to 150 members and our goal is 10,000 by the end of 2012. Our long-term end game is the sale of this entity for $10 million.
Let me just show you some numbers here. That’s our goal. Because Bill’s a rock star in the industry, we figure we’ll get to 500 Charter members within the next, I don’t know, within the next 7 days. Then what we’re going to do is we’re going to open this up, but if you think about it, if we have 10,000 members and let’s say since we have a lot of different pricing, but let’s just make it easy and say that our average price comes out to $15 per member after we give away some commission or whatever. We’re looking at, what is that, $150,000 per month gross revenue. That’s a lot of money.
Our next step here, here’s what we’re going to be doing is we’re going to open this up to affiliates, just a few that are really – and one of the reasons why we’re going to open this up to affiliates, there are a couple things. Number one, there’s a woman that would have been our strongest competitor who Bill knows pretty well. We’re going to recruit our strongest possible competition and make them a collaborator. That’s #1.
Then, so what’s going to happen is we’ll have just a whole boatload of people sign up for this thing. Somebody might try and compete, but we’re going to do it better than they do. We’re going to make the process easy, but the whole thing is is in order to dominate the market, we’re coming in with overwhelming force, and we’re going to try and get up to 10,000 members as soon as we possibly can.
We’re going to then, after we go out using this 3-tiered method here of a Charter membership, an Early Adopter, and a Standard, and the Standard really is the point that we wanted to give away affiliate commission because then we’re basically making at least $10 per member for us. That’s sort of a low-end number.
The Charter membership is$9.95, about $10 a month. Hopefully when we start getting affiliates in, we’re going to do it $19.95 so that if we give away 50% commission, we’re going to keep 10% for ourselves – I mean 50% for ourselves, so it would be $10 per member. The lowest we ever want to make per member is $10.
It’s looking good. The launch went off really well. Bill has about – I mean I don’t know how many people he mailed that out to, but one of the things that we’re going to do is also make sure and tell all those people who got in early, #1, Charter members will never pay more than $9.95 as long as they don’t let their subscription lapse. As soon as they do, now they have to come in as a Standard member at $19.95.
That’s sort of our model here. We have it all set up, and by the way, Dave was the one who set up the site, so if you guys are looking for something similar, Dave is the guy that can do that. If we go back here to the main page, it’s a video and it’s a sales page, and when you get down to the bottom, it says, “Hey, do you want a free sample issue?” It also lists the CE credits fine print here, etc., etc. This is well done by Dave. Dave, thank you very much for that.
Dave: My pleasure.
Fred: The nice thing here is that, again, the reason why I think this can be successful is that #1, we have the process down. Number two, we have the person, which is Bill O’Hanlon, and Bill is a rock star in the industry, in the psychotherapy field. If you have a combination of having the process down well, and you have somebody who’s a rock star, this could be what happens.
Now, these are my goals. I will let everyone know exactly what our numbers are and how we’re doing here. But right now, we have 150 members, and we just started less than 24 hours ago. I do not think it’s too optimistic given the fact that there are 1,000,000 people who call themselves therapists or psychotherapists or thereabouts. I don’t think it’s going to be difficult to try and get what is 10,000. Is that 1% penetration or less?
Fred: Is that 1%?
Fred: Yeah, so I don’t think it’s going to be difficult for us to get a 1% penetration until the year – by the year 2012 using a combination of different tactics, and every time we do one of these webinars, I’ll give you some – or maybe every month or so, I’ll give you some updates as to what this is.
Now, by the way, just in case anyone is wondering, it’s no secret that the split here is 45% for me, 45% for Bill, and 10% for Bill DeWees because he is the voice, and he was just on the call earlier, but had to get off, for those of you who were on didn’t hear him. He’s the voice of the thing, and he’s the producer.
When you go to the free sample issue and you click on ‘Let me Hear it Now,’ you’re hearing Bill’s voice, which sounds great and very professional.
Fred: There you have it. That’s Bill doing his thing. That’s the way we’re splitting up the pie. Bill’s the producer, and he’s the voice, and he does all that stuff. He’s also the person who ends up uploading the CDs because we’re giving people in this market the option to either just get it online as a downloadable audio or to also have the option to get the physical CD.
Our cost from Kunaki is coming out to about – we said, let’s say it comes out, the highest price may be $6.50, perhaps. It’s probably less. We’re charging people, I think what we came up with, maybe it’s $5.40 and we came up with $6.50 as a price, either $6.50 or $7.50 is what we’re charging people who want the physical CD, and it is my guess given this market, my guess is that I would say 20% or more will want the physical CD.
That’s a little bit about that project and a little bit about what we’re doing there. I think that this will be instructive for all of the other people listening and watching this, as well as the other JV partners. One of the reasons why this works is that Bill is a rock star in that industry. When you say – if you come up to someone in the psychotherapy field and you ask them, “Do you know Bill O’Hanlon and who he is?” Probably, I would say, 70% of the people would say yes. The other 30% are probably – have been hiding under a rock or not doing their homework. That’s one of the things that helps make this work.
Avish, Dave, do you have any questions for me on this?
Dave: No, congratulations on the launch. That’s awesome.
Fred: Yeah, it’s a great start, so 150 people in under 24 hours. Obviously, we’re having some issues in terms of – but they aren’t big, they’re little things. One of the things that we’re doing and Dave, I don’t know if Bill’s contacted you on this is I’m going to set up a separate PayPal account for the entity, which is Therapy Audio Digest Incorporated, and set them up so people can order either using Web Marketing Magic or they can order using PayPal.
The only problem is when they order using PayPal, we obviously do not – we have not added them to our mailing list automatically using Web Marketing Magic.
Fred: Although, is there a script to do that, perhaps?
Dave: Well, not exactly, but the – here’s the thing. People are going to want to be on your list to get notified of new issues. You could easily have an opt-in. If they buy with PayPal just say, “Hey, enter here. We’ll let you know when the next issue is out.”
Fred: Again, repeat that so I understand it. If somebody pays via PayPal, I want to make sure and get them onto my list on Web Marketing Magic, so how do I do that?
Dave: You just – well, actually, they have to go through your Web Marketing Magic and just pay via PayPal, right?
Fred: I thought that we might be setting up a separate PayPal button.
Dave: I see. I see. Well, in that case, I would just say to include an opt-in, an inconspicuous opt-in, but say, “Make sure you’re on our list so you get notified with new issues and other bonuses we give you.”
Fred: Okay, so we have to have an opt-in form somewhere and where can that show up? I mean once they make a payment with PayPal, where are they directed to? Can we determine that location, where they have to go next?
Dave: Absolutely, well, actually, since this is a WishList-based site, they will be directed to you know that login where you create your username and password?
Dave: They’ll be directed there to create a username and password.
Fred: Can we put anything else on that screen or is that protected?
Dave: It’s protected, but you can control the next page, which could be an opt-in.
Fred: Then after they create a username and password…
Dave: Correct, correct.
Fred: After username and password is created, the next screen asks them to opt in?
Dave: Correct, yeah.
Fred: Then we’d say to them, “Hey, that’s great, but since you paid by PayPal, we want to make sure and keep you on the board, blah, blah, blah, here’s what you do.”
Dave: That’s good to notify them to keep them interested so they don’t cancel, but you’ve already got them on a recurring payment, which is kind of the goal.
Fred: Yeah, I know that. I just want to make sure that we’ve got them on the recurring payment, but if we wanted to send out a blast to our e-mail list, if they came in through the PayPal door, we don’t have them yet, do we?
Dave: Well, interestingly, WishList keeps its own e-mail list. You could technically send a blast through WishList. That’s kind of getting a little convoluted, but there are lots of options. The best one is just to have a quick opt-in and let them join that way.
Fred: Okay. Avish, any questions? Any thoughts on this?
Avish: Audio Digest in general, I had a thought and a question.
Avish: The thought is I think the third piece that really made this go, which I don’t think you mentioned is that you and Bill really identified a key problem that all therapists have. You’re solving a real issue, which is that they’re just inundated with journals they’re supposed to stay on top of, and they don’t have time to do it, so I think when you add that third component to the process you guys have, and Bill is a rock star, that’s when it becomes a no-brainer.
Fred: In other words, what you’re saying is in addition to Bill being a rock star, we know the process and how to do this, and we have people that we can go to like Dave to help us, we also identified the key problem in the industry. Are you saying that?
Avish: Yeah, absolutely.
Fred: Yeah, I think you’re right, which is we found an area where people are hurting, which is that therapists as a group feel in a lot of pain because they can’t get to the reading that they’re supposed to do. They feel guilty. They feel whatever, and the other thing is one of the real other key benefits here is the CE credits. In other words, all of these professions need to get a certain amount of continuing education credits, and we’re providing them with a super easy way to do that.
Now, they can’t just sign up. I believe they have to take a quick test on the material to ensure that they just don’t sign up and don’t read it and get CE credits. I think we have to do that. I’m not sure, but we did hook up with a guy who’s in charge of issuing the CE credits, so he’s in charge.
All I care about, and again, Bill and I are divvying up the work involved in this, but I’ve got to be honest, he’s doing a lot of the heavy lifting. He’s the rock star. I know the process and I’m helping him, but he knows some of the processes as well, but the other reason why I’m getting 45% of this is I came up with the idea. That has some value apparently.
But this is a good model for people who are looking to do something like this. What you have to ask yourself with information products is everybody and their brother, and I’m sure Avish, Dave, you guys know about this. Everybody in the information marketing business has spent their time over the last year, year and a half saying, “Sell only high-priced products.” To which I say, “Baloney.”
Certainly you should offer high-priced products, but to sell only high-priced products, ridiculous, absurd. In certain industries like this, this makes a lot of sense because if you think about it, let’s assume that we get up to – let’s say we have 8,000 members at the moment, okay? If we had 8,000 members and somebody came to us who had a great program in the psychotherapy field that was offering a 50% commission on a $200 product, so we’d make $100 on every sale, and let’s say we got 563 people to sign up for that and made an additional $56,000 off our list, I mean how did we get them in there to begin with? We got them in there with a $9.95 or a $14.95 or at most a $20 a month product.
Now, by the way, we are going to offer people the ability to pay it all at once. Pay us a year in advance and they get a little bit of a discount. I just think it’s crazy when people think that you should only sell high-priced products because frankly, it isn’t always true that that works.
Dave: Well, Fred, could I comment on that?
Dave: I agree with you. These are small, little $10 bursts, but the glue of it all is the membership model. If you did nothing but sell $10 eBooks and that was your whole model, that’s hard because you’ve got to drum up new clients, but what’s the value of one customer? It’s hundreds of dollars after you find out how long they’re going to stick around, so you guys are putting together a one-page site once a month. It’s great content, but you do it once and you sell to each of these people one time and they stick with you forever.
Fred: Yeah and that’s what we’re intending to do is to make the price so affordable that it’s a no-brainer for them to want to do this, plus they get those CE credits, which, by the way, I think in the psychotherapy field, depending on what you do, I think there might be either 30 or 40 CE credits needed each month – or needed each year. Credits, it’s giving me the French version here. Come on.
My Mac computer is so international. Thirty to 40 CE credits needed each year. So we’re providing and this gives them, I think they get a half for each, so they get six from this. If you’re thinking about it, you just go, “Oh man, that’ll make it easy because if I get Bill and Fred’s thing and that’s only going to cost me this much, and then I can go to this seminar and that seminar. I’m done for the year.” That’s all they’re thinking about.
Dave: Oh. This same model could be applied, picked up, and duplicated in so many different fields.
Fred: It could. The reason, excuse me, the reason why I think it’s so effective here is there are a lot of people that really are hurting when it comes to feeling this guilt associated with not staying up on their profession, but if you think about it, that probably applies to a number of other professions as well.
By the way, once this goes and goes well, Bill and I certainly are going to be looking for other places to put ourselves into the mix here. Avish, are you there still?
Avish: Yep, I’m here.
Fred: I see that Bill might be re-entering the fold here, Bill DeWees. Oh, William DeWees is back.
Bill: I am not only the hardest working in voiceover, I’m the fastest working in voiceover.
Fred: That’s what your wife said, but that’s all other – I couldn’t help it. I just had to go there.
Bill: Oh, rim shot.
Fred: We, by the way, we did highlight your wonderful voice here, and I was just telling people I don’t know, did you get the word from Bill O’Hanlon in terms of how many people signed up?
Bill: I did. Within the first hour, it was like 50, something like that?
Fred: We now are over 150.
Bill: Are you kidding me?
Fred: Yeah, we think our very, very safe goal is 10,000 members by the end of 2012.
Bill: That’s a safe goal?
Bill: That’s amazing.
Fred: That means…
Bill: I love it.
Fred: I was just telling people – I was giving people the split, 45-45-10, and I was telling them that Bill was – his job was production, Kunaki, and all this stuff. This is looking pretty good for you as well right now.
Bill: I guess. I mean even now it’s pretty thrilling.
Fred: Yeah, I mean even at 200 members at let’s just say they’re paying $15 a piece, that’s $3,000. That’s $300 automatic money for you.
Bill: Is that what the monthly…?
Fred: The monthly membership, as I just went over for other people, just real briefly, what I’ll tell you is there’s a Charter member at $9.95, maximum of 500 members at that price. Then it goes to $14.95 for what we call Early Adopters, and that might go maybe up to, I don’t know, 1,000 or 1,500, maybe as far as 2,000. Then we’re going to go to $19.95, and that’s when we’re going to start to open it up for affiliates as well.
Bill: I see.
Fred: So now I’m figuring that the average member, when everything is all said and done, will be paying somewhere around $15 per month average across the board.
Fred: Yeah, so I mean you take $15 – I was just doing the math earlier. If you take $15 per month and multiply that by 10,000, you’ve got $150,000 in gross revenue coming in monthly.
Fred: And $150,000 in gross revenue, let’s say our net on that is a whopping $1,480 or something like that because there are not a whole lot of expenses, but let’s say we have $2,000 of expenses a month. Now your cut is going to be $13,000 when we get there.
Bill: That’s a lot of zeros for one month.
Fred: Yeah, that’ll make it easier to sort of ease out of doing a lot of voiceovers till 3 in the morning, won’t it?
Bill: Oh, I can only tell you what. My fingers are crossed and I’m praying every day.
Fred: Yeah, now the thing is I don’t want to misrepresent here, folks. I have no idea what our actual numbers will be. I have no idea. These are the hopeful figures which we, again, do not know for certain. Don’t let me misrepresent and tell anyone that I’m 1000% certain that Bill is going to be living off the hog as a result of going into the studio for two minutes every month because of my brilliant idea. No, that’s not the case, folks.
Bill: Just go and be a little under exaggerated. But I hear what you’re saying.
Fred: Yeah, no, but the whole idea is I think it’s just great because let’s be honest, the real hero here is Bill O’Hanlon who has the rock star status in the industry that all of us are basically leeching off of.
Fred: Yeah, I don’t mind leeching as long as it’s done professionally. The other thing is that Avish and I are in the process right now, and this is something that I spoke with you a little bit about as well, Bill, which is we’re putting together some other tools here and one of them is – I just interviewed. It’s going to be going up on my site shortly. I don’t think it’s there yet, an interview with a guy named Joshua Talent, who has a site called Kindleformatting.com because the line that I always use is this. Everybody should understand this, which is if you find traffic, and again, this is in the Internet sense, jump in front of it. I don’t want to start having people jump onto interstates on my behalf there.
If you find traffic, I should say here maybe let’s put that in here, online, jump in front of it. One of the places where traffic is starting to get pretty heavy is on the Kindle site because a lot of people are starting to buy a lot of things via eBook and I talked to somebody yesterday in Costco. I was in there just grousing around looking at stuff and also, by the way, I go to Costco because all of you who don’t know me, should know this, which is I love to make money. I hate to spend it and Costco does every day have the $1.50 hot dog special, which includes not only a very tasty hot dog, but it also includes sort of an endless drink, an unlimited refill drink. That, to me, is how you really make money is understanding both the revenue and the expense side of the equation.
Anyway, I digress. In Costco, I was talking to this woman and she was saying, “I should get this for my son.” I said, “Do you have a Kindle yet?” She goes, “No, no, but I’ve been thinking about that.” I said, “Well, I mean are you going…?” Yeah, yeah, she says, “I’m going on vacation.” I said, “Well, are you going to put a whole lot of books in your suitcase or in your carryon?” She said, “Yeah.” I said, “Well, it’s probably going to get heavy, right?” She goes, “Yeah.” I said, “Well, this would make it really easy because you can put 3,000 books on the Kindle.” She said, “Wow! That’s great.”
Well, as it turns out, the numbers from Amazon — I told her that in five years, five years from now, I think starting in 2017, it’s going to be – I think it’ll be 80% eBooks, 20% physical books. I think that in five years, eBooks are going to be sort of ruling the world because nobody wants to be running around with big, thick books.
Now, will there be certain kinds of books that you want to buy that way? Absolutely. You want to put a book on your coffee table that’s got some beautiful pictures. You can’t do that with a Kindle. They may have some kind of a device by then. Could you imagine buying a glass coffee table where the book is built into the glass top?
Fred: That would be cool. But I just think that by 2017, in five years’ time, so what we’re thinking about there is, “Okay, if there’s traffic and we want to jump in front of it,” Avish and I are putting together the first of a total of I think nine sections, right Avish?
Avish: I think it was nine, yeah.
Fred: Okay, so nine total sections to a book called – what are we calling it? 101 or whatever, 1001 – 101…
Avish: Well, yeah, the whole book is public speaking tips, 101 public speaking tips. Something like that. Public speaking tips is kind of the keyword we’re going after.
Fred: You got it, so public speaking tips is what we’re going after, and if there are 101, they’re broken up into different categories. Categories like which ones, Avish?
Avish: Writing your speech, dealing with speaking anxiety, delivering your speech, humor, storytelling.
Fred: By the way, that thing that I sent you via e-mail, was that usable without too much messing around?
Avish: Yeah, I just kind of skimmed it over not really that closely, but yeah it looked pretty much fine the way it was.
Fred: Now what we’re doing here, folks, just so you know, the reason why we’re talking about this is rather than putting out just one Kindle book called 101 Public Speaking Tips, we’re going to come up with nine different eBooks, and you’re going, “Oh my God, isn’t that not very much information?”
Listen to what I have to say here first. Nine different eBooks, first off, let me give you the price. Our price point is going to be $0.99. People, instead of buying a book, let’s say we were to charge $9.99 for this for whatever, we’re now breaking it up into nine different eBooks, which they can buy things by the sections so that people – and maybe what we should also do, Avish, I was just thinking about this. Give people the option to buy the whole thing, the whole book at, of course, the magical price of $7.77 or something like that, so that maybe what we can do is give people – there’ll be 10 books offered, nine are the individual books and the 10th one is the whole thing all at once.
I think you can do that in Kindle. I also asked the question to Joshua the other day or was it yesterday I think, I asked Joshua Talent, who’s got Kindleformatting.com. I asked him if Kindle allows you to put two different eBooks up that are exactly the same content, but have two different names. That was for the purpose of trying to understand whether or not you could do title testing directly on the Kindle site.
I don’t know the answer to that yet. I think the answer is yes, but I think that it’s possible since these nine different eBooks will consist of smaller portions of this 101 Public Speaking Tips, that it’s possible for us to do that. So, Avish, any thoughts?
Avish: Yeah, I think it’s great. I don’t know how to do the whole book option, but I’m sure once we kind of get around the Kindle dashboard and see how to do that.
Fred: Do me a favor. This is something that – this is a universal tip for everyone on here and Bill DeWees knows because I’ve been beating the drum on this for a long time with him. Whenever you figure out or you are in the process of figuring out how to do something, start your screen recording tool so that you capture how to do what it is you end up doing so that you can then package it and sell it to other people. Avish, turn on screen capture when you’re starting to find out how to use the Kindle dashboard because that knowledge and information – because let me tell you, the folks at Amazon and Kindle, they’re onto a great idea, but the instructions for how to use their stuff is pitiful. It’s awful.
Fred: So turn on the screen capture and Bill DeWees, you can weigh in on this too. How excited have people been about what you’re doing with your material? Bill is silent.
Bill: You say material. Are you talking specifically about one of the programs or about…?
Fred: Yeah, just about the programs or the videos that you do for people, where you record screen stuff, what’s the feedback then?
Bill: Oh no, it’s been incredible. Geez, every day, I mean yesterday I got this amazing e-mail from this guy who said he’s gone through literally, he said 300 videos pertaining to voiceover in the past nine days! He was saying how mine were by far the best and most helpful and he appreciated it and blah, blah, blah. I get that kind of feedback on a regular basis, so people love that kind of stuff.
Fred: Now when you get that, Bill, and I know you’re a little bit hesitant to do this, just write them back and say, “Hey, do you mind me using this quote on my site? I’ll give you credit. Where do you want me to send them to once they see it?” Capture that.
Bill: Yeah, yeah. Oh yeah, I have no problem with it.
Fred: Good, because I mean I want to see tons and tons of testimonials on the new site that will be up one of these weeks, months.
Bill: Right, one of these days.
Bill: I used to say, “This week. This week.” I just quit answering now.
Fred: I know, but at least the nice thing is is that the backlinks that you’re having being worked on for this site are working to move the site up regardless of what it looks like, correct?
Bill: Right, yes, it is. The amazing thing and I shared this with Fred the other day, but we actually sold two products in a day, which like had never happened before, from people who have opted in, so that was like a huge deal for me.
Fred: You know what? Let’s brag a little bit on you for a second because this is really interesting. How many total people do you have on your opt-in list now?
Bill: About 330.
Fred: Okay. Out of that number, how many have bought something?
Bill: Yeah, I wish I had an exact number. It’s around 30 or maybe a little more.
Fred: Let’s say it’s 33. So 10% of all the people that have opted in to Bill’s list have bought something from him. That number, let me just tell you, Bill, is phenomenal. Avish, any comments?
Avish: Oh yeah, that’s amazing. That’s spectacular.
Bill: Then it’s just a matter of increasing the number. You get 3,300 people, then it’s just a numbers game, that’s fun.
Fred: Yeah, that’s why I’m telling you Bill. We’re sitting on a gold mine here as well. In addition to all the big, fat checks you’re going to get from Therapy Audio Digest, you’re going to get your own checks and send me some from…
Bill: That’s right. I’m excited about what Dave Hamilton’s doing. His sites look great and we’re getting ready to launch, and it’s going to be awesome.
Fred: Excellent, well, I’m glad. I’m excited for everyone in the group because there certainly is plenty, plenty, plenty of good ideas and there’s no shortage of that here going on. You know what? We’re right about close to the top of the hour. If anybody has any final thoughts, Dave, do you have anything final to say?
Dave: No, Fred. I got the first e-mail from a guinea pig, so next week I should be able to show you a working, fully integrated Kunaki system.