3 steps to IM success.

Thanks Marx, I hope we can explore some more of your Processes, you seem to have a pretty good grasp of the first two, and an excellent knowledge of the tech involved.

So, lets dive into the 3 one at a time: PROSPECT. So using PPT, we can start with the Ideal Avatar, or Ideal Customer, one that has a need or a problem, or in some cases, money to spend on what they want (especially when targeting the affluent).

I'll stick with IM wannabees, simply cause, we're here at WF... and it is focused on IM.

I get scores of ideas, either from my daily online activities, or often, sent to me, my process goes a bit like this: WHO wants this, or needs it...WHY (WHAT problem does it solve)...Where are these people right now, can I find large groups of them in one place? A current project is about the LOTTERY. That would be considered a HUGE market, eh?

So we are told to niche down by the experts, and find a need/want, an itch or problem.

I have a product for those lottery players who are daily players of Pick 3, Pick 4 and of the Pick 5 of 39-47 games only. This eliminates the PowerBall, MegaMillion and LuckyforLife guys who aim for the HOME RUNS. Also, no silly scratch offs, or insidious Keno or progressive players.

So the PEOPLE part is to locate those who several times a week spend on trying to win what I term LOTTERY MONEYBALL, based on the Baseball idea of statistical analysis.

And then the process of Who, where, etc., etc. So then I would outline of the process of the intersection, where my offer, promo, ad, meets them at a time when they are thinking about the subject. So I might find lottery players in sports podcasts, or gaming rooms, the Ideal is someone in a Facebook Group, or a lottery group who are currently playing.

One Ohio Facebook group has over 18,000 members, and most would be my IDEAL target, so that is one place to set up the process of interaction...and the TECH which I would need, is basic and simple, email, spreadsheets, things which they are already used to, and maybe intro a little AI into the mix.

But I would love to hear more about your processes, especially at the higher tech levels, and how you apply these to your daily businesses.


Thanks Max5ty, good point about being the lone foodie amongst the hungry folk...like at a festival where dozens of food trucks are available. Online, we face the same sort of competition. Which is where the better marketers/copywriters thrive, with a superior offer. Not necessarily a superior product, the copy has to convince the prospect of that...I can't compare waffle irons til I taste the waffle it made, and all that goes into that.

Over the last 25 years, we know of big name IMers who have sold crappy products, to the tune of millions, and we know they were crappy because places like FDA, FTC told us this via fines into the hundreds of thousands of dollars, seizures of guru properties, and being banned from certain industries...none of which stopped the big name guru from making his fortune.

But it is so much easier for the long run to sell a product to an ever hungry market that doesn't come with a lot of slop and mess. Also, we see, as you pointed offers are often short term, they have to make a lot of them and NEW ones as Marx said, to sustain their business model. The difference can be seen in one of my mentor's model; Harvey Brody who has been selling his Zoom Spout Oiler for over 60 years without headache, without interference or worry from alphabet agencies, and it will continue to sell when he is gone.

I think that seems like a great business model, like COKE, until the coming sugar shortage, it will go on and on and on and Warren will keep investing.

Now I could argue, but I won't about lottery players having a problem. And with addicts that would be true, but the guys who buy Three Wise Men Dream Lottery Books are maybe trying to solve the problem of LOSING, and want a solution to that...although, there is no such thing as a guaranteed winning lottery system.

But I agree with the premise, people with problems, itches that need scratched, who have desire, want, need, or are impulsive buyers...are a good SQUARE ONE to start with and then go through the process of getting your offers into their hands, which is a whole different game.

Thanks for all the great feedback and maybe we can all learn some new ideas or thoughts on how to set up a sustainable IM biz (if that is what is wanted), or on how to make some relatively easy money to invest in other ventures.

GordonJ

g

That's a good question.

How I approach it...

I think each one is 100% equal in weight.

What I mean by that is -

for the problem (or people as you say), when I'm focused on that, it's 100% important to me.

Then, when I figure that out, the product is 100% of my focus.

Then, after I figure out the first 2 steps, the offer is 100% of my focus.

I think as you said earlier, it's like a 3 legged stool.

If you find a good problem but the offer is bad, the stool collapses.

If you have a good offer but it's not a big enough problem to have enough people, the stool collapses. Etc.

Example: I think they all work together like the organs in our body work together. If the heart is bad, you will still have heart problems even if your liver is good.

My chart breaks it down like this:

Problem - how many people have it? Is it enough to make money?

Product - what is filling the gap now (if any) and how is my product better?

Offer - since I know how many people have the problem and what product they're being offered (if any)...how do I get in front of them so I'm different with exciting new news?

The key to my last sentence was 'new news'

Added: Now, if I identified a problem and knew there were enough people with the problem to make money, but wasn't doing good...

the first thing I would look at is my offer and figure out if maybe I wasn't placing it in the right places, or making it appealing enough to have people decide my product would solve their problem.