Over this weekend I have listened to Audio 1 and 2 of 12 Month Internet Millionaire. As I stated I will be writing about all the audios from the 12 Month Internet Millionaire, just 1-4 (there are 6 audios). I will not go in depth of the audio, just strong attributes that I thought was interesting.
So far Audio 1 and 2 was very interesting, right now they only talk about direct marketing and how he turned it into a business outline. The problem I had with audio 1 is I do not know who this person Russell has interviewed? Going into Audio 2 I still have no name I could Google, but this person's story is pretty well spoken.
12 Month Internet Millionaire: Audio 1
Audio 1 is all about an introduction with this no name person. This 28 year old person, which we will call 12MonthMil, goes into talking about his success. He was talking about his childhood and then goes into talking about how he was not destined to get a job.
12MonthMil did not get into direct mailing right away - he was doing magazine ads; placing little advertisements within magazines and newspapers. One where he gives away free catalogs but none one bought anything. 12MonthMil was depressed and a little disappointed about this issue.
From this issue, he learned a valuable lesson and decided to charge users a $39 annual membership fee, providing users copies of his dealer's price sheet. If users wanted to buy something all he did was fax an order form to his suppliers. Here he did much better because users actually started to buy.
My input: This concept is very true since most users that want something free are just going to "window shop" versus users that have a monthly fee are more serious into trying to order something. You get more serious users in the database by charging a monthly fee, this helped 12MonthMil in the long run since now more orders started to come in.
Get to the source is what 12MonthMil did and asked for the list from his magazine supplier. He did this because he was mad if he would put in an ad into his magazine suppliers the magazine edition would not come out for another 2-3 months.
With him gathering the subscribers list from the supplier, he advanced by printing ads and sending it out to the suppliers list before the magazine edition would come out, this is how he found direct mailing.
Later in the audio, 12MonthMil talks about recycling products and branding it as your own. This was very intriguing to me. This works by simply taking a key component and selling it as your own. 12MonthMil's example was dietary supplements, grabbing the key component of that product; in this case it would be maybe a type of ephedrine or protein in the supplement.
Trimspa vs 12MonthMil Diet Product. The advantage is you can sell it far cheaper than Trimspa. The only difference is marketing your brand. You can get the ingredients or the components of that product far cheaper from a supplier that sells in bulk. 12MonthMil propose this question to a supplier and achieved a remarkable low price for a dietary supplement. A bottle with a perceived value of $60 can be bought in bulk at $4!!
My input: This is very true. Recycling information and creating competition is a great way to get publicity and creating your won product. By simply taking a key component of an item or product and purchasing or recreating it into a more lucrative product, you can easily brand and market it to the public. Example: Information is FREE, since we have the internet - recycling that information and compiling research into an ebook gives you a higher advantage over someone who did not.
12 Month Internet Millionaire: Audio 2
Grabbing the better list from list brokers is important, as we know the money is in the list. 12MonthMil says List brokers do not have the perfect list for you they just have a list. Is it relevant to your niche maybe or maybe not, it is better if you do the research yourself your list will be more targeted.
Later he goes into discussing with Russell, would it be better to have a more targeted list or a vast list. This caught my attention, does numbers really play a role? 12MonthMil both can work but its the more targeted list which will gather you more income, split testing against both can show you. But having a large volume of subscribers can be helpful to, but not as beneficial. You can not go wrong with a huge volume, but what percentage of the volume will be targeted and will they buy? With targeted you have a better chance most of your list will purchase.
Another aspect from audio 2 is sales letter versus postcards. This direct mail method was split tested during a specific time when Windows 2000 was obsolete. 12MonthMil found postcards did far better than direct sales letter.
My input: This is fascinating since there are still users out there that would purchase old information or products but at a more discounted price. Split testing whether a direct sales letter would be more beneficial or postcards. 12MonthMil found postcards to be more income friendly, since no one wants to read about a downgrade, but a quick snapshot of price difference on a postcard shows the potential for buyers.
Audio 2 - I think did not provide that much information that I already know, but some strategies that I can use. Audio 2 mostly talks about your list and how to gain from your list.
To find out who 12MonthMil is visit: 12 Month Internet Millionaire to gain more information and find out who is being interviewed!