The Ultimate Guide To Information Marketing Essentials (2 of 2)

Welcome to the Magnetic Marketing Podcast. Today we get to continue to listen to Bill Glazer in part 2 of The Ultimate Guide to Information Marketing Essentials. Now, if you're jumping in with us for the first time, congratulations. We're so happy that you found us. This is an amazing repository of everything from the past in magnetic marketing history given to you for free so that way you can understand the true power of Dan Kennedy's principles and how you can apply them today in your business. Now, because today's presentation is part 2, if you haven't listened to the past episode, I'd highly recommend it. Otherwise, when you jump in, there is going to be a little bit of confusion as Bill Glazer takes on the second part of his presentation. Also note, he's using words like teleseminar and CD of the month. A lot of times that's going to trigger our minds to say, well, this isn't relevant for today. However, we are not going to share anything that is not relevant for you today. There is a lesson many to be learned. In fact, we're going to jump through the 17 models of information marketing businesses that are just as relevant today as they were then, and 6 of the most commonly made mistakes. And I want to begin with a quote that he ends with here, that success in the information marketing business does not come from just doing things. It comes from doing things in a very certain way. And with that said, let's jump into part 2 of Bill Glazer's The Ultimate Guide to Information Marketing Essentials.

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Welcome to the Magnetic Marketing Podcast with your host, Dan Kennedy. So now what I want to do is I want to spend the rest of our time together to talk briefly about what I consider to be the 17 best models for information marketing businesses. So this is going to take a little bit of time, but do you mind if I spend this to go through with you really quickly? Yeah, you want to see this, or I could just skip over it? Yeah, yeah, yeah, I was teasing. I was gonna do it anyway. It's in the PowerPoint. I wouldn't know how to stop it. So, so this is This is the 17 best models in the information marketing business. Now, I can't go into a lot of depth, but I'll go into as much depth as I can to sort of explain it to you. The first motto is publish a book. If you are a book publisher, you are in the information marketing business. And you heard this morning from Adam Witte, if you were in the room with Adam, some of the advantages of book publishing and how you can get into that and how you can do it kind of easily. The problem with book publishing, however, is publishing a book is that how much does a normal book sell for? $10 to $20, right? The problem is you're dealing with a very low transaction size. So in order to really make a lot of money in publishing a book, you have to sell a whole, whole, whole lot of books, in the tens of thousands of books, maybe even 100,000 books, but really to make a whole lot of money. That is a very daunting task. But book publishing does have a real place in information marketing when you get to number 17, which is the end of our models. Number 2 is the newsletter business. The newsletter business is a business that I actually teach to everybody that I, that I privately coach or in my mastermind groups, that they should be in the newsletter business. Why should they be in the newsletter business? They should be in the newsletter business because there's no— people will actually pay you every month for you to be able to develop a relationship with them. If you look at the No BS Marketing Letter, it is content-rich. But not only is it content-rich, but it's also relationship-creation-rich. You see, Dan talks about his horse racing, he talks about his diabetics. I talk about my daughter in school, I talk about my Porsche, I talk about things that are personal to our lives. Now we usually don't like to talk about those things because believe it or not, Dan and I are very, very private people, but we know what we're doing is building a relationship with our readers. So people are paying you for the opportunity to build a relationship with you, and that's a smart business that every information marketer should be in. The next one is the CD of the month. That's sort of the shortcut to be— that's the down and dirty way to circumvent the newsletter. Is it as good as a newsletter? No. Is it a lot faster than a newsletter to create? Yes. Basically, it's a 60-minute interview and you hand it off to somebody to say, make me copies. A newsletter takes a fair amount, takes hours to create. If you learn, I mean, if you learn how to do, like, the No BS Marketing Letter probably takes between Dan and I between 8 and 10 hours to get it out, to get it done. And then we're pretty fast and good. Others, it could take as much as twice that. Number 4 is the products business. Now, the products business can be 2 different types of businesses. One of those types of businesses, it can be what, what's called the, the first sale products business. So if you go back to my original BGS marketing system, which originally was only selling to men's retailers, now it sells to business owners of all kinds, that was the products business. We were providing a product which at the, at the time it was pretty much called a product in a box that was being shipped to them. Today, the more sophisticated products business is what you see here at Glazer Kennedy, which we have a whole catalog of 33 products, and we don't use these products as our first transaction size— first transaction. We use this as our what's next. After somebody joins us, we make products available to them. And we have a big array of products, 33 products available to people. That is the products business. The next one is the licensing business. The licensing business is a wonderful business to be in the information marketing business. That's a business where you either acquire or sell a license. So if you are selling a license, you're selling to somebody else the ability to resell your products. So they buy, they usually pay anywhere from, oh, $2,000 on a very low side to as much as $50,000 or more on a high side for the ability to get a master of your product and be able to resell it to other people, and they keep the lion's share of the money of the sale. Now, the other way happens in total reverse, is if you're looking for a real shortcut in order to develop a what's next to your business, you could buy somebody else's products and resell them. Paul Hartunian, who will be with you tomorrow, he does a tremendous amount of buying and selling of licenses. He sells licenses to his products, and he also buys other people's products. He probably, of everybody I know, he probably does the largest job with that. But if you're looking for more things to make available to your customers, that's a very smart business to be in. Number 6 is teleseminars and telecoaching programs. This is a— this is a lot of people enter the information marketing business through this door. Is they go— they first they have their list of people and, and that they have a commonality on, and they know what they want, they determine what they want, and they offer to deliver to them information by the telephone. So either teleseminars or telecoaching. Number 7 is consulting. This is— I have, for example, about 6 private consulting clients that I meet with either on a monthly basis or on a quarterly basis. And this is the exchange of hours for dollars, is consulting. There's nothing wrong with that. It's not necessary. Necessarily the most efficient use of your time, which is the reason why I only have 6 clients. We are in the— in my office, we are in the client repellent business. We try to repel as many of these people as possible. We have a lot of people that constantly ask us for that, but it's not a great way to leverage your time. But for a lot of people who are getting into the information marketing business, this is a smart way to get into the information marketing business. The next one, model number 8, This one should probably be in big bold letters: coaching. If you ask people, including me, that are very, very good in there, that have big information marketing businesses, they will tell you that this is the place where right now is not only is the big money that you— where you could sell it for a lot But the interesting thing about it is it's the easiest thing to sell, is coaching, because people want people to take them by the hand and walk them through how to do things. It is the easiest thing that there is to sell. I mean, I sort of will peel back the curtain and reveal to you that in my own mastermind groups that 2 years ago I had 157 Glazer Kennedy members on a waiting list to get into my coaching groups, which is the reason why we created, to be honest with you, Peak Performers, because we had so many people that wanted coaching, we had to figure out another way to be able to deliver coaching to such a demand that we had for coaching. Coaching is the easiest thing to sell, and many people are going into the information marketing business. This is their front door. This is their first portal into the information marketing business. Number 9: big paydays. The seminar business. Seminar business is another great model for information marketing. We talked about it already. Again, just think about it as you can, if you multiply what you paid to be here by how many people are here, think about what those numbers are., there are lots of different models in the coaching business. I mean, in the seminar business, there's the— I have a client of mine that goes around the country and puts on 62 seminars a year that are free seminars, but he uses them, those free seminars, to sell people into a $37,000, 27-month coaching program. So there's the free seminar model, and then there's the seminar model where Dan and I might put on, for example, a very high-end boutique seminar where we want, in many cases, as few as 20 people in the room, and that's like $20,000 apiece. And then there's everything in between. But the seminar business is a very, very good, efficient way in order to be in the information marketing business. Model number 10. Model number 10 is kind of one of the newer models, if you would, although it's not Certainly the— it's not anything that's brand, brand new, but it's a wonderful model which is called the membership site business. And that's where you have online communities of people that gather together with a commonality. So for example, I own a Porsche, and there's a Porsche site out there that I belong to where all the Porsche people can get together and they can lie to each other about how good their Porsches are. And so, you know, you pay anywhere between $19 and $39 a month in order to get together as a community and talk to each other and like, hey, like, do you know how to turn the thing on? You know, do you know where the gas thing goes? And so they talk about the rallies that they go to and the Porsche schools and the new Porsche apparel that just came out, and there's Porsche articles that are up there. So that's a membership site. Well, you're seeing that everywhere today. As a matter of fact, at Glazer Kennedy, we have a Gold Plus membership site, and we're in the midst of actually redoing that, and we're, and we're doing— we're making our Gold Plus membership site much better, and we're also going to be making a Gold membership site to give people a community online where they can get information and they can actually communicate with each other. And just about every niche out there right now has got some kind of an online membership site, and they work very, very well. Number 11. Number 11 is a done-for-you business. Now, I said before that coaching is the easiest thing to sell, but as easy to sell as coaching is this, which is a done-for-you business. Is it as good as coaching? I don't think so, because in the done-for-you business The bad news is you got to actually do stuff. But if you look at Royalty Rewards, for example, the business that I'm involved with Rory Fatt, that's a done-for-you business where for everybody who signs up for— who becomes a Royalty Rewards customer, we send out all their mailings for them. They've got a choice of over 30 mailings. Some of the mailings they don't have a choice of where they go out every, every month or whenever they have to go out, such as how many points people achieve and when they want, they earn their certificates. All done for them. All the customer has to do is sign people up to their loyalty program and then we do everything for them. In all the years that I was marketing to retailers, I never could sell anything for as much money and had as easy a job of selling it as I did for a loyalty program like this, which we charge, on average, somebody pays $500 a month to be in the loyalty program. Let me show you the math. $500 a month times 12 months is $6,000 a year they spend with us on average. My BGS marketing system is $1,797. It's 10 times easier to sell the $6,000 thing than it is the $1,797 thing because it's done for them. So if you can think of what you can actually do for people for people. Because here's the— here is the sort of insider secret that I don't share with too many people, but here it is: people are lazy. They don't want to do a damn thing. So if you can show up to them and you do everything for them, they will pay you anything for that. So the done-for-you business, model number 11. Model number 12 is the list building business. Not a whole lot of people think about this strategically, unfortunately. If you look, for example, those of you that have heard of a company called Boardroom Reports, Boardroom Inc., have you heard of that? Well, they sell to people sort of health-related products, mostly newsletters and things like that. They are really hidden in there. They are really— their big moneymaker is in the list building business. Have you seen their infomercial? They have Hugh Downs on their infomercial where they teach you how— they sell you these books about how to actually, you know, find all these health cures. Hugh Downs is the host. Anybody seen that?

Yeah.

Well, you know, they're doing terrific with that, but you got to understand something. They're selling a book for, I think, $19.95 or $24.95. They're losing money on that book because of what it costs them for a customer acquisition. But what they're really doing is building a list. They're adding tens of thousands of people to their list so they can go out and sell that list to other people. That is another information marketing model. The next one is online delivery business. So that's delivering information just online. And there's a bunch of ways to do that. The simplest way to do that is what we know as the ebook. But other ways to do that are things like you're seeing now from Ryan Dice. Adarian Wilson, who's in the Information Market— InfoMastermind group. He delivers most of his information online in segments, so it's sort of like an online course. I have a copywriting course called Creating Copy That Sells. It's delivered totally online in 20-minute segments teaching you a lesson on how to write copy in the exact order that I want you to learn how to do that, and at the end of the lesson, you have to pass a little simple quiz quiz, and if you pass the quiz, you can go on to the next lesson. People love it when they can— that online delivery of information. There's a lot of advantages to also online delivery of information, because like I see back here in the room is Ron LeGrand back there. When Ron LeGrand and I get together and talk, we invariably get to a discussion that irritates both of us, which is people ripping us off on eBay, taking our products and selling it on eBay and/or copying our products and sell it on eBay. With this delivering of it online to people, it's significant. It doesn't totally get rid of it, doesn't curtail it, but it makes it much more difficult for people to rip you off by delivering your information online. So the online delivery of business is a great business, and I predict that you're going to be seeing more and more and more of it moving into that direction. Number 14 is the association business. Our resident expert on that is Robert Scrobb. Robert Scrobb is president of the Information Marketing Association, but he also came from a world where he actually was— he managed and taught people how to open up and build their own association. There's lots of advantages to having an association in a specific niche and industry. One of the biggest advantages of having an association is credibility. If you create your own association, people look at you differently than delivering just regular information to you because what do they think about associations? Those are like trusted advisors, associations. So a lot of information marketers are either creating associations like Roy Fatt. He has an association that's called BEST, B-E-S-T, Restaurant Association. That's a a separate part of his business, but he uses that because he says the best association endorses all of his products. So that's a very, very clever way to use associations. So the association business is a very, again, a very, very good way as far as a model in the information marketing business. Number 15 is one that pretty much I would attribute to being created by Dan Kennedy. And if it hasn't been created by Dan Kennedy, he's certainly the one that took it to the next level. And that's the area exclusive business. I talked to you before about Paul Serby, Dr. Paul Serby. He has a— he was one of the first people that Dan put into that business. And he has only one person in one area that he sells to for $40,000 the opportunity to open up a dental hygienist school. We're in the area exclusive business at Glazer Kennedy. We have 91 independent business advisors who all have a specific area where they are conducting local Glaser Kennedy chapter meetings and mastermind groups. That is an area-exclusive business. The big advantage of the area-exclusive business is this: if you look at the United States, and this depends on industry to industry, but a big general statement I would say to you is this. That for most industries there's about on average 200 areas to sell. Now that's on average and that depends on the industry, but here's the thing about that. It's a lot easier to get 200 buyers than it is to go out and get 2,000 buyers, and a lot, lot easier than it is to get 20,000 buyers. All you have to do is find 200 of them. So, and yes, you have to sell it for a lot more, but people will pay pay you a lot more when they know they are the one and only one in that exclusive area. So the area exclusive business is a wonderful growing business in the information marketing business. Number 16, number 16 model is hidden money royalties from products and services. The hidden money business is a very good business to be in the information marketing business. So what's the hidden money business? Well, Let's say, well, from a Glazer Kennedy, let's, I mean, I'm sorry, BGS, my BGS marketing system. One of the things that I talk to people that are in the BGS marketing system is how to use a technology by the name of voice broadcast. For those of you not familiar with voice broadcast, that's when you leave an automated message on somebody's answering machine. And at Glazer Kennedy, we have probably about 1,200 of our members that are using this technology, and I have connected them with a company that actually they buy this service from and they pay them. This company gives me a commission to put them together every month. I don't even— once I put them together, I don't have to do anything with them anymore. Every month I get a check from this company that provides this service. That's the hidden money That's the royalties business in the information marketing business. A wonderful business to be in. Now we get to model number 17. The last model, not, it's not the last model in the information marketing business, but it's the last of the 17 best models that I've identified in the information marketing business. You know what that model is? That model is the, it's the best model of them all. That model is a combination of any of the above models. See, because really, to be in the information marketing business, you do not want to be in just one model. What is the— class, what is the worst number in marketing? Of course, it's time for our cheer. Ready? 1, 2, 3. That is the worst Number— it's the worst number in marketing is 1. If you only have one way to do something, your business is very, very, very vulnerable. So what you actually want to do is you want to put together as many of these models as you can. I will tell you, if you look at the Glaser Kennedy business, we're in almost every one of these models. By the way, I want to show you something. By being the chairman of the Information Marketing Association, I I get the president to deliver to me my Frappuccino. By the way, a straw would have been very nice. You have to pay extra for that. Thank you. This is Robert Scrobe, the president of the Information Marketing— does a wonderful job and delivers with me at Peak Performers in our special Peak Performer Plus session. And he's your guy to go to if you're having any heartache and trauma with with, uh, within the information marketing business and operational things. He's the resident specialist. Thank you, Robert. So I need my caffeine. So, so the best model, the very, very best model, is a combination as many of those models as you can. Now I know that a lot of hands went up and they're new to the information marketing business, so my advice to you is don't think in terms of that right off the bat. Think in terms of picking one of the models and saying to myself, let me make that my entry point into the information marketing business, and then the other models become the what's next models. But again, what are the two steps in order to get into the information marketing business? What's number one? The who. Figure out who you want to sell to. What's number two? List is king, or politically correct, queen. So you want to build that list so that you own and control your marketplace. The 6 most common made mistakes in information marketing. The 6 most common made mistakes in information marketing. Number 1, putting product first. I said it before, somebody comes to me and says, I got this great product, Bill. I'm like, I keep a straight face, but inside I'm like laughing at them. It's not the product, it's figuring out who it is you're going to sell to and what it is they want. Number 2, insufficient research. One of the first questions I always say to people is this. They come to me with this idea. The other night I did some open calls, a call-in time I was hosting. Somebody calls me up and he's telling me about this information marketing business he wants to go into. The first question I said to him, which is usually the first question I ask everybody is, How many people are in that niche? How many people in that industry? You know what his answer was? I don't know. You know why that was his answer? Because that's about everybody's answer. Hardly anybody knows, doing any kind of research, how many people there are, how do I get a hold of them, where can I get a list, what magazines do they read, what industry trade shows do they go to, All that is research you need to do. Number 3 is bad economics. What do I got, a straw? See, Robert brings, but the most important person is Sherry. Sherry. Yeah. So let, yeah, thanks, Sherry. Sherry takes good care of me, I gotta tell you. Without Sherry, I am lost. So, so bad economics. So here's what I would tell you economics-wise. I'll give you a big dumb formula. Doesn't necessarily hold true on everything, but you want to work approximately on what I call a 10-to-1 ratio. For every $10 that you sell, you don't— do not want it to cost you more than $1. 10-to-1 ratio in the information marketing business. That's good economics, because with good economics you can make a lot of mistakes and still make a whole bunch of money in the information marketing business. Plus, with that kind of a ratio, it allows you to spend the money on marketing that you need to spend in order to get a good lead and also to market to them. Number 4 is not realizing that good is good enough. This is a great one I see all the time. It's people, they finally figure out they're going to enter into the information marketing business, and then what do they do? They start, they figure out who they want to sell to and what they want to sell, and then they build their product. This was— and you know who was famous for making this mistake? You're looking at him. I told you that I spent 6 months before I first started to sell my first product. Today would take me no more than 6 weeks to what it took me 6 months to do. It's because I wanted to build at the time the perfect product. Well, you know something? There's never the perfect product. There's a quality product, And good is good enough. So when you get to a point where your product is good, that's the time to go ahead and sell it. Number 5, being a pioneer. One of the things that you really want to do is you want to S&D, you want to steal and distribute what already works. So this goes, leaps back to number 2, insufficient research. When you look at your industry, Look at who else is selling things in that industry or niche and say to yourself, let me study what they're doing and figure out what they're doing well. Now that doesn't mean that if you want to be in the jewelry niche, you want to— and you want to provide marketing services in the jewelry world, you want to study what other people who are providing marketing services in the jewelry world What that means is you want to study what everybody is selling in the jewelry world and see what they're being successful at. Don't go out and create new stuff. You know, Dan always talks about pioneers come back with arrows in them. You actually want to look what other people are doing and you want to copy that. And then the number 6 thing is not keeping up with new discoveries. See, the great thing about— when I first got into the information marketing business in 1990, '08, everybody was doing what was called the JPDK model. That was Jeff Paul Dan Kennedy model. All of us were doing the same model, which is basically selling people a product in a box. If you look at that business today, nobody I'm teaching to do that model anymore. I'm still doing that model only because of the fact that's how I started. I'm too lazy to change it, plus I'm too busy at Glazer Kennedy. But the truth of the matter is you don't want to do that model. And today I showed you 17 models, actually 16, because number 17 was kind of like a combination of all of them. You've got to keep up with new stuff in this business. So you've got to keep up with the new discoveries. So here's something that's worth writing down. Success in the information marketing business does not come from doing things. It doesn't. Success comes from doing things in a certain way.

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