A record label for info products

Associate Programs Newsletter #391

I just heard from Allan. He emailed me from Paris and told me that he was exhausted and needed a holiday to get over this holiday. I'm struggling to feel sorry for him.  :)

Anyway, back at the coal face, I'm continuing my series showing you my top 3 fav online business models.

(Jay Stockwell - Acting Editor)


CONTENTS:

1. Jay's Top 3 Business Models - #3
2. 3 free videos worth watching
3. A lesson about lifetime value
4. SBI! Halloween Special
5. Thought for today: Tough times


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1. My Top 3 Business Models - #3
============================================

Have you ever been to an online marketing event?

I've only been to a handful as we're based in Australia and it's such a mission to get to them.

Nonetheless every time I've been to one, most of the stuff that has impacted our business has been the networking, rather than what is taught on the stage.

I've always been amazed at how much people are willing to share with you once they've spent some time with you and realize you're not a jerk.

An interesting aspect to this whole phenomenon, is how the later in the evening it gets and the more alcohol people consume, the more freely this information flows.

The next business model in my top 3 was shared with me by a guy who had a few too many Californian Pinots at one of these events about 18 months ago.

The business model he shared with me was an info product model with a cool twist.

Essentially, he considered himself an info product "publisher" rather than an author.

What he does is find a suitable niche and then contacts struggling experts within that niche to create products.

In the same way a record label picks up artists that are talented but don't have the means or skills to distribute or "publish" their material to the world.

If this idea interests you, have a look at my detailed dissection of this cool business model here:

Like last week, I'll cover:

 - An overview
 - What are the start up requirements?
 - What is the learning curve like?
 - What are the risks?
 - What is the potential?
 - Who does it suit?
 - What do I like about it?
 - How do I get started?

I really dig this business model.

Read all about it here:

My top 3 online business models - Part 3


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2. 3 free videos worth watching
==========================================

If today's business model sounded at least a little interesting, I recommend that you check out the 3 free videos that Ryan Deiss has released that promote his new Continuity Blueprint product.

Especially check out video two.

http://www.AssociatePrograms.com/ryansvideos

It really expands on this concept of being a publisher. He discusses more along the lines of the membership site model, however, the concept is very much the same.

I'm really loving the way that people are giving away so much good content for free to build relationship and goodwill for their product launches.

These videos are an exceptional example of this and he doesn't make you enter an email address to watch them.

As I mentioned last week, we're putting a big effort into a new membership site so we're learning everything we can from Ryan's new product.

I've been really impressed with it so far. Ryan is a compulsive split tester and loves hard data. We've already changed our whole pricing model based on his recommendations. Can't wait to apply some more of this stuff once the site goes live.

I'll keep you posted on how it goes.

Anyway, check out the 3 free videos here:

http://www.AssociatePrograms.com/ryansvideos

If you are interested in buying Ryan's product, read Reena's review before you do:

Continuity Blueprint review

 

==========================================
3. A lesson about lifetime value
==========================================

Today, I decided to shave off all my hair. I've always been known as the guy with the messy hair. It's not because I'm lazy, it's more that I liked being a bit shaggy.

However, over the past few years my hairline has been creeping back the wrong way. I considered the comb over, but decided that I didn't want to compete with my uncle.

So I decided to do what most young men do when they are starting to go a little bald and shave it all off.

It was a big moment for me as I knew there was no going back. It was staying off for good.

So as I walked to the office, I stopped by a little hair dresser who had a sign out the front that said "Style Cuts - $10". I thought surely a shave could hardly be considered a style cut, and would probably be less.

So I went in and the place was completely empty (as it always seemed to be). A guy with an accent came out to greet me.

I questioned him about the price of a quick shave. He said, "to shave your head, that will be $15".

I responded, "15 bucks huh... what about this style cut promo on the sign out the front... isn't a shave easier than a style cut?"

He responded with a lame story about how shaving your head is more difficult than a style cut.

This bit of bait and switch annoyed me, but not enough to walk out. So I said no worries and asked him to get started.

He asked me what length I wanted. I responded "I want it pretty short, I'm not sure.... maybe a number 1 or 2?"

He muttered something about making my mind up, so I went ahead and requested a number 2 blade.

Three minutes later he was finished. My hair was short, but not as short as I thought it would be.

So I said to him, "hmmm... this isn't as short as I wanted, what do you reckon, maybe we should go a number 1 instead?"

He responded, "well.... this hair cut is over". In other words, if you want me to spend another 3 minutes making your hair shorter, you need to pay for another haircut.

I was clearly pretty unimpressed. I said, "so what you're saying is that I have to throw down another 15 bucks for you to spend another 3 minutes on my head with those clippers?"

He seemed a little surprised at my assertiveness and stuttered that he could do it, but that I'd have to pay $20.

I instructed him to go ahead and he spent another 3 minutes shaving my head.

So why am I telling you this story?

Well let's look at the scenario here.

Firstly I was a customer who wanted a service from him that had a high return on investment. He only needed to spend 5 minutes with me and he made $15 bucks.

Real "style cuts" would normally take him 30-45 minutes and he wouldn't earn any more.

Secondly, I was a customer with a high "consumer" value. I needed to get my head shaved regularly to keep it short. Most people come back every 6 weeks, whereas I would be coming back every 2-3 weeks.

Unfortunately this marketing numbskull couldn't see the bigger picture. All he could see was how he could screw me for an extra $10.

He had to make the decision to have the extra 10 bucks now, or have 10 bucks every 2-3 weeks probably for the next 5 years at least.

They say that one of the best determinants of intelligence is the ability to delay gratification. I think this supports that hypothesis.

So what can you learn from this little story?

I guess the main lesson is to remember that once you've got a customer, do everything you can to keep them happy by over delivering. Especially on the first purchase.

Once they buy from you once, they'll probably do it again for years to come. It's way easier to keep a customer, than it is to find one.

I guess the other sub-lesson is, when doing business, don't be a jerk.


==========================================
4. Halloween Special
==========================================

If you've been thinking of getting the superb Site Build It! suite of tools to build your affiliate business, now is the time.

Site Build It! is having a Halloween Special. With SBI, you don't just build a website, you build a business.

SBI provides unparalleled, inarguable proof of success that no other company can match.

This special offer ends at the stroke of midnight, Halloween, so don't muck around.

Find out more here


================================
5. Thought for today: Tough times
================================

"Tough times never last, but tough people do." - Robert Schuller.

 

All the best

Jay Stockwell

October 24, 2008

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