Powerful Information Product and JV Secrets with Liz Tomey.
I'm back :)
Yes, after a 8-month hiatus (basically the curling season up here in Canada!) I'm restarting the Info-Blog to provide you with valuable, time-tested solutions to your Internet Marketing questions. As a teleseminar reporter, I actively search for new interviews that provide relevant insights and hard-core information fit for a discerning audience.
With so many product launches these days, it's hard not to trip over a conference call or webinar where marketers discuss the latest and greatest in the Internet Marketing universe.
To that end, Hillary Stewardson's "Seminars with the Experts" seems to fit the bill. The moderator, a Canadian retiree now living in Mexico, has lined up 12 successful marketers who will be sharing strategies and opportunities on a weekly basis.
To open the series, Stewardson invited Information Marketing veteran Liz Tomey to share her experiences with eager listeners. After starting out in offline direct mail in 1998, Tomey moved to MLM and the Internet in 2004. Even with her MLM success, she quickly gravitated towards "Internet" marketing. First, by offering advertising services to fellow MLMers with her own affiliate program. Shortly thereafter, Liz created her first Joint Ventures (JVs) information product, and has since enjoyed great success with consistent follow-ups in the Internet Marketing niche.
How do you Want to Make Money?
Beyond altruistic and social ideals, people logging onto the Internet are motivated to make money! However, what prevents them from achieving their income goals is the absence of clarity and focus, as well as a plan to implement their ideas.
Tomey suggests that there are 3 ways to make money online:
1. Create your own (digital) product.
2. Sell other people's products as an affiliate.
3. Freelancing, i.e. offer services (e.g. writing, software) to other marketers for a fee.
Therefore, select one of the above options, set your income goals, and come up with a realistic plan (strategies, tactics) to attain those goals.
Market research is critical, not only for choosing a profitable niche, but also the specific needs of the segment you intend to pursue. In short, everyone serious about earning an online income must:
1. Buy the competition, and duplicate their content without stealing.
2. Differentiate themselves with a "twist".
3. Dominate your chosen niche.
Don't Complicate Your Life.
Liz wants you to focus on one area only. Jumping on the latest fads week after week, month after month will not only frustrate but prevent you from becoming an authority figure in a well-defined niche. When opening your Inbox, only look at emails that directly relate to what you are doing now. She suggests that if you cannot use the information (product, service, etc.) within 24 hours FORGET IT! Delete the e-mails right away and unsubscribe from irrelevant lists.
Tomey stresses online discipline. Limit your forum time, even in quality spaces like the Warrior Forum. Likewise for e-mail time; she suggests segregated e-mail accounts (e.g. one for high-level marketing contact; one for "freebies"; one for forum announcements, etc.) as a means for prioritizing your tasks.
Self-Education is the Only Way.
Most of us have limited means by which to access the information so critical for success. As an established marketer, Liz Tomey spends upwards of $5k monthly on information products which no doubt contributes to her knowledge and product development skills.
Yet, there remain low-cost and even free methods to educate one's self. Marketers should not dismiss free resources: Giveaway sites, article directories, and older products (including public domain works) are often superior to recent releases. There is no excuse for not tapping into what other marketers have to offer, so long as they improve your knowledge, understanding, and marketing "touch".
Product Creation versus Affiliate Marketing.
Conventional thinking dictates that Internet marketing "Newbies" stay away from product creation. After all, why go through the hassle of making a product, writing sales copy, setting up autoresponders, getting a merchant account etc. when quality, ready-made stuff is available in abundance?
Tomey, on the other hand encourages newcomers and others to be creative right from the start. Go into forums and find out what people really want, then use your imagination and market research skills to design and implement products to establish yourself as the expert. In well-defined or highly competitive niches like Internet Marketing, use Clickbank and similar sites to see what is selling well and orient your efforts towards that type of product.
Successful product creation and promotion are determined by several factors, including:
1. Personal Level of Implication:
How badly do you want to establish yourself as a niche expert, and do you have the desire to brand yourself - put your name out there?
Can you convince list subscribers, buyers, and affiliates to "buy into" your vision of success via this information product?
3. Finding the Right Partners:
Make tangible offers to marketers who you believe can help you now. They will decide how best to help you (e.g. marketing integration; article and/or video syndication). If you have already started driving traffic to your sites, track your conversion rates and show them to your JV partners. Emphasizing money alone won't impress them. After all, they don't need you to make an extra thousand bucks!
Joint Ventures (JVs) as a Primary Networking Tool.
Getting quality JV partners leads to benefits that go beyond your current promotion. While e-books may discuss the "Whats" and "Whys" of marketing, Liz Tomey suggests that money spent on high-caliber coaching is usually a better investment. Mentoring and mastermind groups become easier to find through a reputable coach, and there is extra motivation when someone else is holding you accountable for your actions.
Tomey is a fan of live conferences and seminars. Not all events are created equal, but marketers of all abilities and experiences come together for a mix of direct selling, information sharing, and live social networking. The ability to build a "Buddy Network" alone justifies the associated costs of attendance, i.e. travel, hotel, attendance, etc..
Practicing what she preaches, Liz Tomey has become a highly sought after JV partner and coach. She is able to live the life she wants to lead, that of a financially independent Stay-at-Home-Mom (SAHM). Needless to say, JV marketing and information product creation can be a powerful combination in today's digital world.
Rahul Majumdar is a full-time information marketer specializing in teleseminar reporting, article marketing, and information product creation.