In this article I’m looking at a big problem in the internet marketing field, and it’s a problem that can be the cause of a lot of frustration, and the cause of making a lot of money, both at the same time…
Your customer must be a value target not a money target!
When newcomers take their first steps into the area of making money online, it won’t take long before they’re exposed to the idea that prospects mean money, and more than that, that lots of prospects means lots of money!
Here’s that theory – You have to set up your system to convert a percentage of prospects into buyers, and so to get more buyers you hoover up as many prospects as possible into your system. Once you have a big enough list of prospects, you can promote other people’s products too, which not only brings in more sales for you, it means that those product providers will then promote your own products in turn to *their* big list of prospects.
Sounds great, right? It’s all about the systems, the sales, the buyers, the prospects, right?
As I said this idea is taught by a lot of people and often it’s aimed specifically at newcomers to the internet marketing field.
It gets the cash signs flashing before people’s eyes, and it has to be said, it’s a model that can make a lot of money!
So, since I mention a lot that in order for anyone to make any money, someone has to buy something, what’s the problem with this idea?
Well, there are two problems I can see…
The first problem is that for the model to be sustained, it’s a bit like a hamster on a wheel – the parts need to keep moving all the time.
New products have to be created, more promotions sent, and new prospects funneled into the system. That’s because there’s a ‘churn and burn’ effect. The list of prospects gets jaded after seeing these endless product launches, only to buy them and find the marketing of the product was far better than the actual product itself.
Once they become jaded and drop off the list or stop buying, if they’re not replaced by fresh new prospects, the whole model stops working. So it then becomes a case of how many prospects can be gained as quickly as possible, and how many products can be promoted to them before the churn and burn kicks in.
That’s the first problem, and it brings me to the second problem…
The customers are seen as money targets.
With this system, the prospect is seen as part of the seller’s system, a component of their money making machine. The prospect is seen as what benefit they can bring to the seller, what value they offer to the seller.
As such, the value offered by the seller is secondary. Very much secondary in many cases.
This is the wrong way round, in my view.
I firmly believe that the customer should be looked at in terms of what value can be given *by* the seller *to* the customer. The customer should not be just another statistic on a money making list, they should be a real person being given real value.
Much better to look at a customer in terms of asking what value can be given to them – What is it they want, what is it they need and how can they be genuinely served?
If you can’t answer those questions, if you don’t know what value you are actually offering, then it could be that you are indeed viewing customers as just a money target. If that’s the case, I’d suggest an adjustment needs to be made so that view the customer as someone you can give value to.
This might take more work, it might be a slower curve, but in the long term it can be just as financially rewarding, and gets away from the hamster wheel model, firstly because there is no churn and burn, and secondly because the customer appreciates the value being given by the seller, and will come back for more.
So, both models can work, and as with most things, it’s a choice as to which one a newcomer follows. I have no doubt that while they can both make money, the model that has more integrity, and gives most value to both sided of the seller/customer relationship is the one that views customer as a value target rather than a money target.
As ever, I’d love to hear what you think – do leave a comment!
‘Til Next Time,
Health & Happiness,
P.S. I have a new FB Group on the go, to do with this idea of turning your passions into profits online. I called it, Online Passion Profits! I’d love to see you there, pop in and say hello 😉