It pains me to write this but it’s clear as glass that not everyone who ventures into information marketing will end up a success (contrary to what some gurus claim, as long as you buy their book). Without further ado, let’s dive into this murky pond and explore some of the reasons why the unsuccessful information marketers are more than the successful ones:
#1 Quality of Information:
Content is king (I’m sure you’ve heard that before). It’s as true today as the day it was said, and it’s even truer in this context. Unless you have great information worth paying for, I’m sorry to say your business is doomed from the start. Quality information is the backbone of any information marketing business. Your information has to be timely, accurate, relevant and most importantly, you must always deliver what you promise on your cover. If you let your ads proclaim battles you can’t win, you’re setting yourself up to fail.
So from the outset, always ask yourself would I pay for this information and consider it money well spent?? When you finish creating your information product, go through it thoroughly and ask yourself the same question again. Unless your answer is “Yes” both times, don’t bother launching that product, it’s doomed to fail. You might have some initial sales with smart marketing gimmicks in the beginning, but if your information can’t stand up to scrutiny, your business won’t last, in fact, you don’t have a business at all.
#2 Poor Marketing:
After creating a quality product worth spending money on, what next?? Do you just sit at home and wait for your village gods to bring people to buy it?? Well, you can wait, but I’m not sure your village people love you that much. The point is that you have to market. And you have to market smart. You have to get out there and scream, “hey, everyone check out what I got”, and since this is 2017, use the internet to show your product to the world.
Until you get your marketing strategy locked down tight, your chances of making it as an information marketer are slim to none. So don’t just wake up and start splashing money on ads, learn your audience and market with the channel that resonates with them.
The best information marketers the world over all have one thing in common, they have mastered how to get their information products in the right places where the right people can see them. So don’t get left behind, develop a marketing strategy that works and hold on to it.
#3 Greed and Impatience:
Patience is a virtue. One you’re going to have to learn because going forward you have to realize that you won’t become a billionaire overnight and you just have to be fine with that. There’s a difference between making a few bucks and starting a successful, profitable business. The former is easy and the latter takes time, grit, dedication, and patience (online or offline). So you have to be ready to stick it out. Don’t engage in any underhanded or black hat tactics just to make fast money. In fact, forget fast money. Strive to build your reputation slowly but surely, start a blog to share more of your insights with your audience. With time, you’ll have a devoted following. But like any lasting business, the process is slow and tough and you have to endure it.
The other factor that might hold you back is greed. So you want to sell your information product for #20,000 or #50,000? Your village people must be following you on Twitter, Instagram, and even Snapchat. Now I’m not saying there aren’t information products worth that much, there are, but it all depends on who’s buying. Don’t just slap an arbitrary price on your product, always consider what is known as the price corridor of the masses. This is where the purchasing power of the majority of people are. Do two things. First, consider similar products to yours that have been released previously by others, how much they’re selling for and how well they’re doing. Then, think about your target audience and what their purchasing power looks like. If you’re writing a book for job seekers, you’d better not go overboard with price, you know they don’t have money and say you’re creating the cookbook we talked about earlier, your biggest targets are women. They’ll probably pay more to learn something that every female is “supposed” to know but the won’t break the bank.
Take all this info, combine it with the quality of your information, how much you would pay for it and consider it money well spent, and come up with a reasonable pricing figure. That’s the story on pricing.
And there you have it, the roadblocks on way to becoming a successful information marketer in Nigeria. Learn them, surmount them and never let them hold you down. So always provide quality information, market smart, be patient and price right. That’s your formula for success.
You never know when the doors of opportunity are going to open wide. For some, the big break comes early in life and for others later on. But for all of those who become successful, there is one key similarity: They were ready. And for every one of those who were ready, there were thousands more who weren’t.
So, the principle for us is: Be ready!!