I wrote an email to some of my subscribers this week about how I thought that Internet marketing was essentially broken. Several things have happened over the past few weeks that have made me take a long look at the IM business (Again!) and once again I don’t like what I see. It seems that a lot of marketers are set on a path of self destruction.
First let me preface this by saying that I love Internet marketing, I love the fact that I can sit and my desk have an idea , create something and earn money. I love that I can find a great product write a review and make commission. I love that I can have an idea for a website and within an hour have a site up and ready to make sales.
I love that the there are very few barriers to entry and anyone can make an income. Viva La Revolution!
I honestly still get a buzz from opening my email and finding I’ve made a sale of $9.
I’ve not had a job in the past 33 years of my working life that has brought me as much pleasure on a daily basis as IM, yet not a day goes by when I don’t find something about it that makes despair for the future.
So here are 7 reasons why I think Internet Marketing is broken.
1. Jumping On The Merry Go Round
Twenty marketers emailing you promoting the same product and trying to differentiate their offers by adding more and more valuable bonus’s .
It’s really time to do the maths on this one, if you are competing to make sales with almost every big name marketer with a list then you might make some sales and earn $150 commission per sale but it you put the same effort into marketing a product that paid you far less commission and had far fewer people promoting then 2 things would happen you’d make more sales but more importantly you wouldn’t lose subscribers.
Hands up who unsubscribes from multiple lists if you get multiple promotional emails from different marketers.
During the Easy Video Suite launch I had emails from marketers who had never created or sold a Video related product promote it to me. WHY?
If I can look at it and decide that it’s not a particularly good fit for my subscribers who have bought videos related products why can’t they?
2. Lack of originality
Marketers do what they see other people doing, they completely disregard trying anything new. A great example is a marketer who builds a list then see’s other more successful marketers emailing offers everyday. So they start to email offers every day even though they complain about getting so many email offers.
3. Failure to build a proper business.
This is related to number 2 . If you aren’t creating products and just promoting other peoples products you haven’t got a business. Relying on short term income over long term profits is a recipe for disaster.
4. A Fundamental Lack of Original Thought
Rehashing other people ideas and products. A few weeks ago I explained how I had done something in a private group within 3 days I was being asked by another member to promote his product about exactly the same method. Coincidence?
5. JV partners Dictating the Sales Process
When Jv partners want 100% commission on the front end and expect you to have a high process backend One Time Offer then something is broken! Have a look through the warrior forum and look at what buyers ask in every thread .. is there an OTO. Customers don’t like it yet marketers feel like they have to do it.
I actually don’t believe there is anything wrong in offering an OTO that compliments a product, but you should not be forced into having one if you don’t want to have one. On the other hand an OTO that provides a missing pecs of the puzzle that should have been in the original product is totally wrong.
Sellers who don’t give out review copies but still want you to promote their offer… nothing more to say on this one apart from .. Muppets!
7. A complete and utter lack of common sense.
Too many marketers are focussed on the making quick cash and not planning for long term income. They view their subscribers not as customers but as cash dispensers. This is what bankrupts businesses in everyday life and IM is no different.
In fact everything i’ve written here can be attributed to not having a grasp of basic business practices. Wouldn’t it make IM a much better place if you were forced to complete a course on basic marketing skills and customer services before they were allowed to set up a website or create an email list.
Most of the things that are wrong with this gloriously inclusive business would be solved by marketers asking themselves ..
“What would be in my customers best interest”
Try it it might transform you business.