The Ultimate Guide To Information Marketing Essentials (1 of 2)

Welcome to the Magnetic Marketing Podcast. In today's episode, we get to listen to Bill Glazer from the stage at Superconference in a presentation entitled The Ultimate Guide to Information Marketing Essentials, Part 1 of 2. Now, on this stage presentation, Bill Glazer not only goes through his story about how he went from a burned-out menswear retailer to an information marketing giant in just a few short years, but he also shares the key reason why information is evergreen. It's worked for centuries and it continues to work today. And before you jump onto the information marketing bandwagon or try to take your information marketing business to the next level, there are a couple of things that you need to pay attention to. Number 1, the advantages of an information marketing business. There are advantages and there are things that you should not be focusing on. Pay attention to what Bill Glazer talks about specifically, as well as what is the most important thing you should be doing if you've been running an information marketing business for a while and you're still trying to catch that first step that really screams, I have found success, this is going to be an episode you definitely want to pay attention to. And last but not least, once again, this is a two-parter. So part number one is available for you right now. Jump in, listen to it, but make sure you stay tuned for the next episode where Bill Glazer reveals the 17 best models for information businesses and the 6 most commonly made mistakes in the information marketing world. Let's jump in.

I don't think there's anybody that has had a bigger impact in the field of direct response than Dan Kennedy. The legend of Dan Kennedy should be ignored at your own peril. They're not really lessons, they're kind of laws that you live by.

Dan opened my eyes to what small business marketing looks like. Dan teaches strategic direct response that is timeless.

His ripple effect touches people who don't even know his name.

The world as we know it was changed because Dan Kennedy became obsessed with marketing.

Welcome to the Magnetic Marketing Podcast with your host, Dan Kennedy. Okay, the title of our talk today is The Ultimate Information Marketing Shortcut. This is the world that I spend the most of my time in today. Just out of curiosity, let's try a couple things. Not that it's going to change anything I do, but let me just sort of figure this out. Who here in the room is is in the information marketing business? Very cool. And who here is not in the information marketing business but wants to get rich? Well, that's sort of what happened to me, but you'll hear more about that as we go along. So let's just move along right into this whole thing. What is information marketing? Because I assume there's some folks in the room that have heard about this thing called information marketing. And what they basically sort of figure out by being at our events is this is a very, very good business to be in. There's a lot of rich people in it. But let me tell you exactly what my definition of the information marketing is. It's identifying a responsive market with high interest in a particular group of topics and expertise, packaging that information, products, and services matching that interest. And that's very important, matching that interest. We're going to talk about that. Either written, assembled by you or by others, or by both, and devising ways to sell and deliver it. So it's that. The more important thing is that there has never been a better time for this. So when you hear, when you look around and you see, like, all the people whose hands went up that they said they're in the information marketing business, do not be discouraged that, hey, everybody else has already figured this thing out. And therefore, they figured it out, and like, there's no, there's no more room for me. That's like saying that people figured out the internet and there's no more room to be in the internet. The truth of the matter is that there's more of a need for information marketing now than ever before, and I think that's going to continue to get greater because people have this tremendous need to be able to find shortcuts to get information in order to learn how to do stuff. So more and more people are looking for this. The other thing I want to point out to you is, because if you're in the— and you'll hear my story in a few minutes— but you don't have to necessarily jump into this business as your full-time business and also leave your existing career. It can be, can be an interesting sideline or a retirement business if you want to be, with no stress, complete flexibility and portability, and a few thousand dollars a month of easy income. Or you can do it full-time, as I pretty much do today, and Dan does pretty much do today. And a lot of— how many people in the room are full-time information marketers? Very good. And you can do that, and that can provide you a very, very high six-figure, or if you want a seven-figure income And if desired, and this is sort of another piece of this, you can get certain prominence, you get celebrity status, and most importantly is you can get a saleable asset. I will tell you that the folks that are in my InfoMastermind group, in my VIP group, in the last year, 3 of their businesses, 3 of them have sold either all or parts of their business. When I first got into the information marketing business, you didn't think in terms of saleable asset. You only thought of what Dan calls today's banking, which is getting money today. But there's a real big opportunity for future banking now in the information marketing business because as we've gotten smarter and smarter and smarter in this industry, and we have, the business continues to evolve, one of the things that we are now teaching people to do is to develop these businesses in a way that they become a substantial, saleable asset. Okay. So let me tell you about the possible topics that you can do for information marketing, and it's a very short list, so it's good news for you. Here it is: every imaginable topic. We have people in gardening, investing in real estate, yoga for golfers, investing in tax lien certificates, extreme fitness, persuasive voice skills, Skills for business. How to get women to approach you. That's John Alanis. I think he might even be around here. Where are we? I lost my— How to make money on eBay. How to learn gunsmithing at home. Gene Kelly, I don't know if you're in the room, as a hobby or business. Better sex. Dan teaches that. Teaching— Why did you find that funny? Teaching parrots to talk. Dan teaches that. Business niche marketing systems. And just about every niche there is. Restaurants, my buddy Rory Fatt. Dentists, there's a bunch of them that are running around here teaching that. Auto repair shop owners. I got 3 clients in that in that area, and a bunch of them are going around. Also, Ron Ipak is here, Dave Dixon is here, Dan Crix is here, real estate agents, insurance agents, menswear retailers, my favorite, jewelry store owners, pest control operators, professional magicians. The truth of the matter is, if you can name it, there's somebody out there that's now teaching industry information in that industry. Now the real important part about that is this: that if there's somebody already teaching information in that industry, that is good news, not bad news. It doesn't mean that somebody already got there before you and now you can no longer— you can't enter that world. The truth of the matter is that's good news because that means that there's people in that industry that are looking for information, so now all you have to do is figure out your own space. And if, for example, if you look at dentists, dentists is a great example. There must be 50 people that are providing information to dentists right now, and the truth of the matter is they're all doing well because they figured out their own unique space. So, my story. I'm going to spend a few minutes and tell you about my story because I hope for those of you that are in the room that, um, are thinking about getting into the information marketing business, my story might actually help you along on that journey. So 1974, I graduated from the University of Maryland and I entered the family menswear business, which we had one menswear store in downtown Baltimore, Maryland. It was operated by— my father owned it, and there was 10 employees in that business, of which 7 of us were family members. So 7 out of 10, my mother worked there, my aunt worked there, I had 2 uncles that worked there, my father was there, I had a cousin that was there, and there was me. It was a very, very wonderful situation. And we prospered very well throughout the years by doing something which is called 2 words, hard work. And we worked hard. We worked 6 to 7 days a week. We would often work hours, I mean evening hours, long hours. I mean a 70, 80-hour work week was not unusual for me at all. And that business continued to go and prosper, but then throughout the '80s, all of a sudden menswear stores started closing up all over the country. As a matter of fact, just a little bit of history about that. In 1990, when they took a census of how many menswear stores were— there were— there was 3,300 menswear stores in the United States, independently owned. In 2000, when they took a census again, there was only 3,300 left. 9 out of every 10 had closed up. But we continued to sort of go and grow and prosper well because of the fact that we just really worked very, very hard. We also had a situation, however, that we used to carry in that store about $1 million a year in inventory. Now, I don't know how many of you have ever been in the apparel business, whether ladieswear, childrenswear, menswear, but the problem with the apparel business is that the minute you get your merchandise, that— from that day on, that merchandise becomes less and less valuable to you because it's mostly seasonal. So if you get in your spring and summer merchandise towards the end of summer, you have to pretty much liquidate that for anything that you can because of the fact that it's seasonal. Nobody wants to buy spring and summer merchandise in Baltimore, Maryland in the dead of winter. So we had a very— a lot of money tied up in inventory with an asset that continued to be worth less and less money to us. But we continued to do well and we continued to make this whole thing work, which again, because of the fact that we were working hard and listen, I'll admit to you, I think we were pretty smart at what we did. In 1995, a friend of mine, a retailer in Philadelphia, Pennsylvania called me up. Good buddy of mine, I met him going to the trade shows. He called me up and he said, "Bill, why don't you come up to Philadelphia for the day?" Says there's this big seminar that's coming to Philadelphia and we gotta have Zig Ziglar that's gonna be speaking there, Brian Tracy was being a speaker there, Barbara Bush was coming. By the way, if you ever heard Barbara Bush speak, she's fabulous as a speaker. She should be the Bush we have in office right now. So she spoke, a lot of athletes were there speaking, and the seminar was open, over 5 o'clock. And at 5 o'clock, they announced that the seminar is now over. However, we have a bonus speaker for anybody who would like to stay. We really encourage you to stay. There's this gentleman by the name of Dan Kennedy, and he's going to talk to you about— he's a marketing expert, he's going to be talking to you about marketing. Now, in Philadelphia, my guess was at the time, there was about 10,000 people that were at this seminar. And at 5 o'clock when they announced it's over, about 9,000 people stood up and headed for the exit. They wanted to go home because they had figured that they were going to leave at 5 and they were kind of scheduled to go home at 5 o'clock. Well, my friend Mark, he says to me, "Let's go." And I said, "Well, listen, there's like all these people are leaving and we're parked in the parking lot across the street and everybody else is parked there and we're going to be stuck there for an hour waiting in our cars, so why don't we listen to the marketing guy I've always been interested in marketing, and quite frankly, I've never heard of a marketing guy that could help me because everybody I had heard up to that time were people that were speaking in the menswear world, and they were all unsuccessful menswear retailers that were teaching everybody else how to be unsuccessful. And they were very good at teaching everybody else how to be unsuccessful. So I sat there at 5 o'clock, and Dan started to speak. Never heard of him before. I don't think anybody else ever heard of him before. And he started to speak, and I started becoming mesmerized by what he was saying. For the very first time in my life, I was hearing information that I had never heard before at all. Things such as endorsed mailings, getting somebody else to endorse the mailing for you. Things such as sequential mailings, sending out a mailing and then whoever doesn't respond 10 days later sending out a second one. If he doesn't respond, 10 days later sending out a third one. And then also things such as unusual mailing. Like if you ever have seen magnetic marketing, the Giorgio letters, where Dan turned in a restaurant promotion into a promotion for Valentine's Day with the love connection tied into the restaurant. And so I stood up at the end of the presentation. Again, I was just mesmerized by it, and I ran to the back of the room to buy my Magnetic Marketing System. And then my buddy Mark took me to the train station in Philadelphia because I was taking a train home to Baltimore, and I couldn't wait to get in that train to start studying the Magnetic Marketing System, and I quite frankly hoped that the train ride would never end. 'Cause for the very first time I was hearing information I had never heard before. So of course I took it back and I started to implement. My father at the time was very active and was alive at that time and was very active in our business. And I came back the next morning, he said, "How was the seminar?" And I said, "It was great. I heard this guy give us a great idea about we'll send out our customers this offer. If they don't respond 2 weeks later, we'll send them the same offer. And if they don't respond 2 weeks later, we'll send them the third offer." My father looked at me and says, "You're nuts." He says, "No, why would you send it to people who doesn't respond?" Well, my father, one of the things that was great about working with my father, and it had some challenges through the years, but I work now with Dan, so, you know, it was like preparation for that. So, but one of the things that was great about it is he did let me do what I wanted to do. Now, if it didn't work, He gave me a raft of shit, but at the same time he did let me do what I wanted to do. It's okay to say words like wrath, right? Okay, so he gave me a raft of stuff, and it worked. It was unbelievable. We sent out the offer and we got about 3% response. We sent out the second offer, we got about 2.5% response. We sent out the third, The third letter got 4% response. It was amazing. This stuff was working. And that sort of launched me on my career to learning how to become a marketer and was sort of reaching out from outside of my industry at the time and learning from others outside of the industry. And then I started to buy everything I could buy on marketing. Everything. I was studying Halbert. I studied Carlton and the greats like Robert Collier. I was reading everything and doing everything I could do. I was attending Dan Kennedy seminars. And everything, I just couldn't inhale enough of it. And that was in 2005. And my business continued to prosper and grow. We were having double-digit increases when everybody else was sucking wind. That's the industry term for doing poor. They were doing terrible and they were actually, more stores were closing up. And then in 2007, I was reading my No BS marketing letter and I noticed in there that Dan Kennedy was coming to Baltimore where I lived to speak at the same seminar that I heard him before speak at called the Success Seminar. It was put on by a gentleman named Peter Loew. Anybody ever been to a Peter Loew seminar? Yeah. So I figured, what the hell, I'll write Dan Kennedy a letter. Now he's sort of godlike to me because my business just keeps growing and growing. And I'll write him a letter and I'll say to him, Dan, you're coming to Baltimore, you're speaking here, I would love to take you out to dinner. Because I would just like to thank you for everything that you've done for me and my business. And I'll never forget the day, I mean, over the loudspeakers at my store, Gage Men's Wear, they said, "Bill Glazer at the telephone." And I picked up the phone, I said, "Who is it?" He said, "Dan Kennedy." So I thought it was like, you know, it was like God was calling me. I picked up the phone and I said, "Hi, Dan." He said, oh no, no, excuse me, I didn't say that. I said, "Hi, Mr. Kennedy." And he said, you know, "Hi, it's Dan Kennedy, and I've got your letter." I'm coming to Baltimore, but I'm leaving right after I speak, but I don't speak until— I don't have to be there until 4 o'clock. I can have lunch with you. So I said to him, gee, that would be terrific. And I said, listen, I just want to let you know, I'm not going to pick your brain. I just wanted to thank you and take you out to lunch. And he said to me words that I'll never forget. He said to me, Bill, if you don't pick my brain, you're nuts. So I showed up with a stack of stuff this high. I'm not kidding. I mean, I had all my marketing pieces. Everything I showed up with, okay? And this was in June, this is actually in May of 2000, and, no, May of 1997, I'm sorry. And I showed up with that, we had 2 hours lunch, okay? And I thought this guy was a little weird because he ordered shark for lunch, but, you know, whatever, he was still like this guru for me. And at the end of the lunch, he was looking at all my stuff and he said to me something which again I'll never forget. He says, Bill, Actually, midway through lunch, he says, "I got a big idea for you." I said, "What is it?" He said, "I'll tell you later." At the end of lunch, he says to me, "Bill, you're doing such a good job of marketing your menswear business that you should be teaching this to other menswear retailers." And that was the first time ever I had ever heard of this world of information marketing, providing information to other people in your own world and teaching them how to do what it is that you do. And Dan agreed to work with me personally for 6 months as long as I gave him a very substantial check. And he worked with me for 6 months to help me get that launched. And today, by the way, it would take me— what I know today would take me about 6 weeks to what it took me 6 months to do back in 2000— in 1997. And I started in the— and at the end of 1997, I launched my first information marketing product to exclusively at the time to menswear retailers. And in the very first year in 1998, we sold $500,000 worth of systems to menswear retailers. I thought I died and went to heaven. Okay, to me that's like chump change today, but okay, so, so, so But in 1999, we sold $1 million to men's wear retailers because we learned something called back end. That once we sold something to them, they would buy something else. So we learned the back end, so we did $1 million in 1999. And since that time, we've never done less than $1 million in that business. And it's basically run— Darlene Balandri is in the back of the room. She was there at the very beginning in 1997. She helped me get that launch, and today she spends half of her time on BGS and the other half time she spends on Glaser Kennedy work. So we run that whole business with Darlene and with Infusion Software. That's how we run that whole business. And it's a wonderful business that we built it, that's sort of on autopilot today. It has a newsletter business that's associated with it. We continue to sell our marketing system to retailers throughout the world, and mostly in North America, and the business just keeps on going. And the thing that's nice about it is that I told you I had this million dollars worth of inventory at Gage. Well, I had 65 employees selling it, because we eventually opened up our second store. I had 65 employees between the two stores, so then I had $2 million worth of inventory. With our BGS marketing system, we netted more profit with $10,000 worth of inventory on hand, and every time we would get down to $5,000, we would beef it back up to $10,000. And the inventory doesn't become less valuable. All we keep doing is raising the prices. And as I said, I operate that business with half of a person, with Darlene. I get the upper half. Kayser Kennedy gets the lower half. So that's sort of my story about how I got into the information marketing business. I will tell you that for the— so I entered that business in 1998, and then in 2003, And I had joined Dan's Platinum Group immediately. That's when you could get into one of Dan's groups. And I had joined it right away, and I stayed, so I stayed very connected to Dan. And then in 2003, I had told, Dan, as you know, was always like this, you know, he likes horses. So we had this thing in Baltimore called the Preakness. It's one of the Triple Crown race things. And I had said to Dan, and I had two tickets to the Preakness, I said, why don't you come and be my guest at the Preakness. And at that time, unbeknownst to me, he was looking to get out of operating his own marketing business. And while we're sitting there and betting on horses, which I had no idea what I was doing, and by the fact that we lost that day, either did Dan. We were sitting there, you know, having lunch and betting on horses. Dan mentions to me that he was interested in selling his business, and I went to the Preakness and I walked out owning his business, basically. And it took a little, a few going back and forth with discussions, but unbeknownst to me, I wound up buying that business. And up until that time, I had continued to operate, so I took over that business in January 2004, And that's when I left the menswear business. I hired somebody to run that business, be the president of that business. And up until that time, from 2000— from 1998 through 2003, I was both operating my BGS marketing system, doing $1 million a year there, and continuing to run my own menswear stores. So I didn't leave the menswear business. So the important point about that is you can get into the information marketing business without leaving what you got now. And I did it for whatever amount of years that was, about 6, 7 years. I continued to do both at the same time. And I actually tell most people when they come to me for consulting is don't give up your day job. You know, this is no reason why you've got to take that jeopardy and jeopardize your income and your family being able to provide for your family. Do both for a while. You can certainly do that. So there you go. That's my story about getting into the information marketing business. So let me tell you a little bit about now about the advantages of the information marketing business. The first one is it replaces manual labor with multiplying leverage in what we know. That's the first thing about it is we can, as I've said to you, I now have, we have about over 4,000 people who have the BGS marketing system. 4,000 people. I did not deliver that information to one at a time. I created the information one time, created it into a wonderful marketing system, and we now ship it to them. So I only had to create it one time. The other thing is buyers of products will buy more. As I told you, by the second year we were already doing a million dollars. That's not because we sold a lot more systems the second year. It's because we sold a lot more to the people who bought the first year more things that they were looking for. You can have a small amount, no amount of interaction with buyers, if possible. For example, Dan has like no interaction with people. I don't really have much at all. If you want to talk to me, you've got to like contact Sherry, and you've got to like make me— tell her why you want to talk to me, and I've got to be interested in that. If not, you get a very, very polite, "Bill's not available." So you can have very little interaction with people if you don't want to have interaction with them. You can have a small quantity of staff required. You can't get much less than half a person than I got. So you can have half a person run that whole business. Small investment of inventory. As I told you, we keep about $10,000 worth of products on hand, and it can be operated as a home-based business if you want to. So it doesn't have to be necessarily a brick-and-mortar business if you don't want it to be. Certainly can be a brick-and-mortar business. Our business at Glacier Canyon now has grown to where We now own 2 buildings in Baltimore, and we have between the 2, everything, web store, all this other stuff, probably almost 30 employees now. But it doesn't have to be that kind of business if you don't want it to be. But the last one, number 7, is the most important one. You can make a lot of money in this business. So if you're interested in that, and you don't have to respond to that, but if you're interested in that, then that's really important to you. But here's my personal biggest advantage of the information marketing business. This is really it for me, and again, this might not be for you, but this is it for me. It allows you to help other people grow quickly while allowing you to become totally financially free even in a down economy. I mean, right now we arguably are in a down economy. The truth of the matter is, in a down economy, people want more information than they do even in a good economy because they're searching for help. So this is a great thing in down economy. Simply put, if I had to reword what I have up there in blue, it allows you to do what you love to do. I truly love doing what I love to do. I truly love it when I come to these events and I hear people get up and talk about how their lives are changed by learning what we've taught them. I could really, really love it when I go to like my info mastermind meetings, my VIP meetings, and I see the double growth that those men and women have every year by me working with them. My peak performers group, I really love it when I see how they grow as well. So it allows me to do what I really love to do. So if you're looking— because I can tell you something right now, I didn't love working 70, 80 hours a week trying to sell men's suits. That was— and especially for 30 years, that was a That was like a prison sentence. So this really allows me to now do what I enjoy doing. So a couple of examples of this. The first one is Rory Fatt. Rory Fatt is in the restaurant marketing system, and he has a very, very large business. He has over 100 restaurant owners that are in his, his coaching program that are paying him a little bit over $10,000 a year. So you see, that's a million-dollar business right there. He has 4,000 buyers of his product that sells for on average $1,500 apiece. He has 4,000 people subscribing to his newsletter, which people pay him I think $35 a month for. He has 500 people that attend his annual event. So if you just, I mean, listen, you can't help, I'm sure, being here, sort of looking around the room yesterday and sort of figuring out, you know what you paid to be here, and say to yourself, let me do that math. Okay, how much did I pay to be here? There's 1,200 people here. Kennedy and Glazer are doing okay, you know. So, and so the seminars are certainly one of the big opportunities in information marketing business. You can do other— he has prefab websites that he sells to people for, I believe, $87 a month. He has a loyalty program that actually I'm slightly involved with. He actually operates it. It's called Royalty Rewards, where he actually— it's a wonderful program where it's done-for-you marketing, and not only does he offer it to restaurant owners, he offers it to retailers, he offers it to people in the auto repair industry, auto repair shops, so it's a great program. There's other income for that. As a matter of fact, that business has become his biggest business. Business. It's bigger than everything else. And he does new mover mailers with people which he actually joint ventures with a gentleman named Dean Killingbeck who is here. So that's sort of a look at his business. Dr. Paul Serby. I didn't see Paul here, but Paul, he was a dentist that hated doing dentistry. Just hated it. And he actually created an information marketing business where he had in his office, he had this thing where his dental hygienist would have a dental hygienist school on Saturdays when his office was closed, which would teach other people how to become dental hygienists. And he was doing so successful with that that he was one of the first people to open up what's called the area exclusive business, where he in one area would go out for approximately $40,000 an area, would sell the area that how he does, another dentist in that area, how he does, teaches people how to become dental hygienists. He's in the information marketing business, got out of dentistry. It's a really good thing he got out of dentistry because when he was in dental school, his nickname was Feet, not Hands. So that was Dr. Paul Serby. Ron and Jill Woolford. Is Ron still here? I know Jill was heading out. Is Ron still around? Ron, they both were here. I think Ron is still here. He sells information on hitting to parents of Little League baseball players. So he sells to the parents of Little Leaguers of how to be better hitters. He's in the information marketing business doing wonderful, been in that business for a very, very long time. So here's a couple examples. Now what I'd like to talk to you about is the two most important steps to get into the information marketing business, because I know that there's a lot of people here in the room who are not in the information marketing business. So here's the real deal. Number one step: the who is more important than the what. This was said by Dan Kennedy. The who is more important than the what. Determine who is your target before you determine what to sell. See, this is what I hear all the time. Somebody comes up to me and they say, "Bill, I got this great product. Now can you help me sell it?" That is the wrong way to go. First figure out who it is that you can sell something to. Product creation is easy. Finding people to sell it to is the challenge. So the who is much, much more important than the what. First, figure out where they are, who are the— who they are, how many of them are there, how can I get a hold of them, how can I communicate with them, who else do I know in that industry, what is my connection to that industry. The who is more important than the what. Step number 2 of the information marketing business is this: the list is king, or queen for the politically correct, for the people that are in the room. So the list is king. So what you— he who controls the list is king or queen. So what you want to do when you look to get into the information marketing business, you either want to figure out how can I get a hold of a list, or how can I create my own list fast? How can I— the people that I want to sell to, how can I start developing a list to them? See, other people try to get, and they successfully get into the information marketing business by doing what's called joint venturing with other people who already control the list. And that's fine, you can do that, but you have no control of your destiny. You are up, you are subject to them. In order to be successful. Let me give you an example of what I mean by that, and I'm gonna be a little callous about this, but all the speakers that you saw here today, those people are subject to me saying, or Dan saying to them, you know what, we'll let you come and deliver your information on our stage. They don't really have much control over that. We're the ones that have control over that. The person who runs the stage is the one that's in charge, and so therefore you want to be the one that has the list. We're the ones that have the customers. Everybody wants to have sort of access to our customers, so therefore the list is king or queen. So what you want to think about when you get into the information marketing business, after you figure out who, who the who is, the second thing you want to do is you want to figure out to yourself is How can I assemble as quickly as possible my own list so I am not subject to the whims of other people? Now that's not saying that you shouldn't do joint ventures with other people. You should. And that's sort of a little bit more advanced strategy in information marketing. But for right now, you really, really want to build the list. Is this stuff helping you all? Yes. Okay. All right, then I'll give you more. And I'll give you more that's more helpful. Here is my information marketing formula. Okay, now who here in the room has never seen this formula before? Great, you'll love this. Here it is: QP plus QL plus MF plus RR— why'd you laugh when I said MF? Filthy mind— plus RR plus QI plus WN equals big dollars. You got it? Okay, good. Now move to the next slide. So QP is quality product. So one of the first things you got to figure about when you get into the information marketing business, you want to sell a quality product. See, it doesn't do any good to sell a crappy product because what you're about to see when we get to RR, you want to sell a quality a quality product that people are going to really help people and people are going to like so that they not only are happy with their purchase, their investment with you, but they want to buy more from you after that. The next one is QL, quality lead. You want to find people— and this goes back to the who— find people who are interested in what it is you are offering them. So many people in the information marketing business, one of the ways that they go about it, which is a smart way to go about it, is they actually do what's called two steps to get to the customer. The first step is that you just get somebody to raise their hand and say, "I'm interested." And then the second step is to, once they say, "I'm interested," is to put them into a marketing funnel. So one of the simplest ways to do this, not the only way, not necessarily the best way, but certainly a simple, easy way that is a good way to do it is like studying what Alexander Brown does. She teaches people how to develop an online ezine of people. And so you can assemble 10,000, 20,000 people who just subscribe to your free online ezine for a particular subject matter. And then now you know they're interested in this, so now you can continue to market and promote to them. The next one is MF. MF is marketing funnel. So now you've got this quality lead and you want to put them into the marketing funnel. And this is really where Dan Kennedy's magnetic marketing really kicks in, because you don't want to just send them one offer and then ignore them after that. You want to continue to market to them over and over and over and over again. At BGS Marketing, at our height, we were in 13 steps in our marketing funnel. Today We're actually only down to 7 steps because we made some tweaks over the years. But at our height, we were up to 13 steps in our marketing funnel. So that's why you want a QL, which is a quality lead, because once you know that somebody's interested in what you want, you can afford to spend more money on them in order to get them to invest in your products and/or services. Now, RR is, again, why you have to have QL. R is risk reversal. The better way to say risk reversal is get a money-back guarantee. That is a good way to say risk reversal. So here's what I'll tell you about that. You want to guarantee everything that you sell. If you cannot guarantee what you sell, find something else to to sell. It will make your life happier, and it will also make your job of selling to them much, much easier. So don't sell anything that you can't guarantee. That's why QL is so important as far as having quality product. The next one is this thing called CI, which is continuity income. Now, there's lots of ways to sort of do this. Everybody in this room who's a member, you're involved in a continuity program where every month we ship you— you're gold members, gold plus members— where we ship you information and we charge your credit card. And what I basically would say to you here is this has been probably the single biggest change in the information marketing business. And actually, the person that I attribute with really figuring this out in the modern-day world is here. He's a guy named Reed Hoysden. Reed, are you in the room? Reid Hoisington? No? No. Reid was the first person I ever saw this at a Platinum— Dan Kennedy Platinum meeting where he was the first person to add automatic continual income onto this first product sale. So what I would tell you about that is this: is that when you sell your first product, it's much harder to go back and make a second sale than it is to just bundle in the continual sale on the product sale and allow people to leave you at any time. And then the last part of the formula is WN. And WN is what's next. And what that means is that once somebody buys something from you and you give them quality products that really helps them, they want more from you. See, you now are a trusted advisor to them, and they want to buy more from a trusted advisor. And a lot of people make this mistake of not offering more things to them. So like, for example, this seminar is a what's next. All of you in the room, I don't know what level you're at now, but you pretty much— most of you came in at our gold offer, probably our free trial offer. Well, A seminar is a what's next. After you become a member, now you would get the what's next. Some of our other products are what's next. Even the t-shirts that are in the back that are 2 for $25. Did I mention that? They are— I still got to sell apparel. You know? So a $2,000 product doesn't give me as much feel-good as a lousy $15 shirt. Well, it actually does, but anyway, so that's a nice chart, right? That's right. So the next is a what's next, is you want to offer them other things, because if you don't sell them something else, somebody else is going to sell them something else. They already have proven to you that they're interested in getting products or services that can help them in order to better their business. So you might as well be the person that's there in order to offer that to them.

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