~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Mass Marketing on a Shoestring Budget Internet Marketing Flows That Turn Your $1,000,000 Ideas Into $1,000,000 Cash Flows Transcript for Part 1 (9/18/04) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~ Administrivia ~~~~~~~~~~~~~ Talks and transcripts about: Mass Marketing on a Shoestring Budget and Internet Marketing Flow are copyrighted. You may reproduce related content in part or all so long as you credit David Favor and any of my contributing guests and your reproductions are freely distributed. Other distribution situations require contacting me and receiving written release. Contact info: David Favor 3920 Idalia Drive Austin, TX 78749 512-280-5802 david@davidfavor.com You'll be served to join my Inner Circle by emailing: To: join@davidfavor.com Subject: Join Inner Circle Your act of joining may be the most profitable action you take in your Internet Marketing journey. ~~~~~~~~~~~~~~~~~ Behind the Scenes ~~~~~~~~~~~~~~~~~ My primary business is designing, implementing and managing Internet-Web based marketing systems. Two primary questions from my health clients are: 1) How do I reduce stress? 2) How do I start a Raw Food business? This series of articles will answer both these questions. The primary source of stress in our culture is: "More month than money." For a variety of reasons, people's expenses exceed their income. There are two approaches to solving this: 1) Cut back 2) Create obscene amounts of cash My preference is the latter of the two. :-) When your income expands faster than you can possibly spend, then life takes on new dimensions. I heard a wealthy man make this response when one of my friends asked him how much he made: I don't know exactly. I can tell you this though. Each month I write two checks, one to my wife and one to myself. Each of these checks is $600,000. Wealth is a process. First I bought everything I'd ever dreamed of buying. Then I traveled to every place I dreamed of traveling. Then I had every experience I'd ever dreamed of having. Then I stopped and wonder what's next. Only one thing - Stewardship and Service. You see the real purpose of wealth is two-fold. First, once your are fully secure in your material requirements your health and consciousness will transform dramatically. Once you're here you'll understand. Second, when you're generating more cash than you can possibly ever spend all you can do is give it away as fast as possible. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Your Internet Marketing Flow Overview ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ The purpose of Mass Marketing on a Shoestring Budget is to create an Internet Marketing Flow of no-cost and low-cost technologies to create 7x24 residual income, meaning: Income independent of your time, talent or capital. Marketing Flow is the process by which people exchange their dollars for your product. Your primary challenge with Internet Marketing will be to design your business to survive rapid, massive success. Always ask yourself the "Scaling Question": What happens if I get 10,000 orders today? Scaling means designing your Internet Marketing to require less time as your business expands. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Your Internet Marketing Flow Road Map ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ You'll start with a core Internet Marketing Flow designed to generate income in 24 hours or less. After your core Internet Marketing Flow is running, we'll increase your income by focusing on the only three real business assets: 1) Your Customer List 2) Your Customer Contract 3) Your Internet Marketing Flow Your Customer List means email addresses of people interested in your "Topic", which we'll cover shortly. Your Customer Contract is what's required for people to gain access to you and do business with you. Your customers will act how you train them to act. Your Internet Marketing Flow is the sequence of actions required for people to change their role relationship with you. The farther along the customer role scale, the less customers you'll work with and the more money you'll make. Customer Roles are also referred to sometimes as multiple levels of cream, an analogy to using a butter churn to separate different layers of increasing richness. Product means any hard (tangible/concrete) product, soft (information) product, personal service or cause you're promoting. ~~~~~~~~~~~~~~~~~~~~~~~~ Your Customer Role Scale ~~~~~~~~~~~~~~~~~~~~~~~~ The customer scale is: - Suspects: The people you think should be interested in your product. - Prospects: People who prove they're really interested in your product by taking some action. This first action is usually to give you their email address. - Buyer: People who place one order with you. - Customer: People who place 5+ orders with you. - Champion: People so turned on by you, they create referrals for you. - Clients: People providing enough value, by way of direct income or indirect income (referrals), you're served to invest time into an ongoing, personal relationship with them. - Partners: People you join forces with, who have large mailing lists, for the purpose of Joint Ventures, where you both cross-promote each other. ~~~~~~~~~~~~~~ Business Types ~~~~~~~~~~~~~~ Even if you have an existing business you're encouraged to release all you know about marketing and go through each action step discussed. We'll use simple business types as experiments for creating some fast Internet Marketing cash, you'll be hooked. There are several types of businesses: - Hard Products (Something you receive at your doorstep) - Where you determine your product parameters, locate vendors, negotiate quantity discounts, purchase inventory, warehouse inventory, take orders, process credit cards, deal with credit card challenges, deal with refund requests, assemble inventory into shipments, deliver shipments to shippers, deal with shipments which never arrive or arrive partially or completely destroyed. Whew... - Where someone else does all this. - Soft Products (Infopreneuring) - Product is some form of information such as visual Internet content (Web, Email), Paper and Ink (printed newsletter, Magazine, 3-Ring Binder Course, Tele-Conference, Web-Cast. - Flex Products - Combination of Hard/Soft Products where primary product is free information "backended" by some form of hard product.