The 2 Biggest IM Mistakes I've Made

by Zeus66

Posted: 13 years ago 33 replies

INTERNET MARKETING

I've been in the IM game for a long time now, and I usually try to focus on positives here at the forum. I think that helps newer marketers more than complaining and bringing people down. But I also think it can help to know what an experienced person would do differently if he had access to a time machine.

Speaking of cool machines, where the hell is the flying car I was promised as a kid? It ain't right!

Sorry, so anyway... there are really only 2 big things I screwed up over the years. Lots of smaller mistakes, of course, but these two are the regrets that really make me mad at myself.

Waiting Too Long To Build A List

This one is huge. I had heard for years and years about how the "money is in the list" and how serious marketers all have lists. Now I know what they meant. And I confess: I'm a doofus. When I see the results I get from my own modest list now, it makes me want to go back in time and kick my own ass for not starting a list years ago. It's no exaggeration for me to tell you that I'd be a millionaire for sure right now had I done just this one thing much sooner.

Please, stop procrastinating and get your own list going NOW. Take all those inner excuses and kick them to the curb. Now, today, this minute. Seriously. Have you done it yet? Why not? LOL

Waiting Too Long To Become A Product Creator

My second biggest screw-up has been waiting way too long to get into product creation. Not much to be said here, other than you need to take the knowledge you already have and understand that lots of people who are newer than you would LOVE to learn what you know. And they'll pay good money for the privilege!

It's so easy now to create PDF's and even videos. Just do it! Put together some simple tutorials or guides teaching other people coming up behind you how to do what you know from experience works well. Simple as that.

I know product creation isn't for everyone. But far too many people who would like to do it aren't doing it. And I think it's mostly from fear of failure and not understanding that even knowing a little bit is enough if you target the right audience. Look, you do NOT have to be a "guru" or even close to that level to offer something of real value to other marketers. Don't sit on the sidelines too long (like I did). Get in the game.

John

#biggest #internet marketing #list #made #mistakes #product creation

Coby 13 years ago

Great Point John!

These two things really kinda go hand and hand . . .

If you build a list, you have an instant audience for your products and your building value in YOUR business and not someone else's (by selling their products).

It took me awhile to start building a list as well, but I'm glad I did! It makes the world of difference. No more waiting for sales to come in (because lack of traffic)

Newbies and Veterans alike can benefit from these words of wisdom!
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JulianKane 13 years ago

Two very good points, I have always built a list but just recently have I got into creating a product and I finally have one which I'll be launching this year.
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- Matt Morgan 13 years ago
  
  These are very common mistakes marketers make, and when they realise that they should have done them ages ago, they wanna get down to doing these 2 things as quick as possible!
  
  People keep waiting for another day, or until they reach a 'milestone' for these things to get off the ground.
  
  Not building a list is like leaving money on the table.
  
  Product creation: I think many people thing "I don't know how to create a product", and they leave it for another few years, but when they know the steps it isnt as hard as they think it is.
  
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Leslie B 13 years ago

Couldn't agree more. I had to be pushed by some of my IM friends to do both. Especially with the second one, I was too focused on ebooks and that's just not something I'm too comfortable with, but I think I found my call now. Better late then never, right?

Leslie
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- Michael Shook 13 years ago
  
  I don't know, John, the way you have phrased this thread sounds like you are putting out good positive ideas. Very cool. Thank you.
  
  I have made products in other niches besides IM and I have had a lot of good profitable fun doing that.
  
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billjoyce 13 years ago

No doubt about it especially if you are overwhelmed by the "list" success stories and tink I'll never get ther. Started with Twtter less than a year ago and have 42,000 followers on4 different market specific sites. Go get the lists the best time to start is NOW. The past dowsn't matter unless you are paying alimony LOL
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fromtheashesofthephoenix 13 years ago

Good things to learn from.
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yankforlife41 13 years ago

True stuff right there! That's what I'm doing right now!
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CDarklock

13 years ago

Originally Posted by Zeus66

Sorry, so anyway... there are really only 2 big things I screwed up over the years. Lots of smaller mistakes, of course, but these two are the regrets that really make me mad at myself.

I started building a list and making my own products within six months of getting into IM...

And I still made both of those mistakes.

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Matt Ward

13 years ago

There's something I don't quite understand when it comes to list building. A lot of people suggest that everyone does it, but I don't understand how it could work in a lot of cases, like if you promote physical products. Let's say your main sites are in small niches, like a site selling kitchen knives. I'm not really sure how you'd build and market a list for something like that?

I can understand how it would work if you were promoting things like IM products/services or other niches, but not really sure how you'd approach it with physical products. If someone got to your site looking to buy kitchen knives, I don't know what else you might try to offer them or if they'd even be interested in anything after they got their kitchen knives.

Any tips?

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Matt Morgan

13 years ago

Originally Posted by mattward

There's something I don't quite understand when it comes to list building. A lot of people suggest that everyone does it, but I don't understand how it could work in a lot of cases, like if you promote physical products. Let's say your main sites are in small niches site selling kitchen knives. I'm not really sure how you'd build and market a list for something like that?

I can understand how it would work if you were promoting things like IM products/services or other niches, but not really sure how you'd approach it with physical products. If someone got to your site looking to buy kitchen knives, I don't know what else you might try to offer them or if they'd even be interested in anything after they got their kitchen knives.

Any tips?

You have picked an interested niche, I be creative by comming up with short PDF ebook reports to give to your visitors, such as

"5 tips for (some tips to the niche)"
"7 ways to _________"
"How to _________"
"Discover the 2 biggest mistakes to _______"
which they get after giving their email address.

or even a newsletter.

but with kitchen knifes, erm
"3 ways how NOT to hold a kitchen knife!" lol.

If you are into looking for other niches try some with a problem, when you can solve if (by promoting your product, which can be an ebook, or video course even).

Examples:

Relationship trouble - Solution: how to improve it (your ebook)
Debt worries - Solution: How to get out of debt (your ebook)
Dog training- Solution: How to train your dog to do _____ (your ebook)

expand your ideas, on some paper in a brainstorming session.

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Zeus66

13 years ago

Originally Posted by mattward

I do understand this, being a niche affiliate marketer myself for several years. I know some people are comfortable doing aff. marketing all the time and not straying outside of that area. I respect that. If you target product niches, I agree that the emphasis is much less on repeat customers and, therefore, less emphasis on building a list.

But there is more money in being the product creator/seller, at least in the vast majority of cases. You get repeat buyers and you get affiliates working for you to promote your stuff. And you - not the affiliates - get to build that list of buyers. That's crucial.

John

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Matt Ward 13 years ago

Yeah, I can absolutely see the money in creating your own marketable products. I have an idea or two for my own IM tool/product for down the road, something that I don't think exists yet, and I know a lot people, especially newbies, would find it useful. Heck, I'd be using it right now if it existed.

Lots of things to think about.
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rickfrazier1

13 years ago

Originally Posted by Zeus66

I've been in the IM game for a long time now, and I usually try to focus on positives here at the forum.

Sorry, so anyway... there are really only 2 big things I screwed up over the years. Lots of smaller mistakes, of course, but these two are the regrets that really make me mad at myself.

Waiting Too Long To Build A List

Waiting Too Long To Become A Product Creator

Don't sit on the sidelines too long (like I did). Get in the game.

John

I'd take your last line, and add a third:
Waiting too long to get into IM.

Having what appeared to be not enough time like many people in High Tech, I initally scoffed at the whole affiliate marketing idea, mostly because it seemed to spawn a new grade of spammers.

Little did I know at the time, that Affiliate marketing would become such a lucrative method of generating income.

Now, as processes are well understood, there are fewer spammers involved, but we still need to clean up the snake oil sellers somehow.
Too bad there are so many people that will bite on the ads that promise the world and deliver near nothing... [sigh]

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coffeyucf 13 years ago

One big mistake I've made and I know others have is promoting bad products or bad partners to your list. I know JV swaps are a great way to make money and build your list. Though you can't just focus on the fact that it's a JV with a big list owner.

Have them send you the product. Is it a good product? Are people getting a good value for what they are paying?

I think this is way more important than having a problem with a sales letter. If the sales letter is hypey it's not as bad as your customer getting a crap product.

Another thing is support. Many marketers out there have terrible support. Try asking a question to their support center. Do you get a reply? If not there is a good chance your customers won't either.

If the answer is no to either of these things don't do it. Sure you might make some sales or add some new subscribers from their list. Though it's not worth it if you've burnt the relationship you've already developed with the customers you have.
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Viktor Bebel 13 years ago

very true. Those two are exactly the same mistakes I made. And you cannot return the time! Thanks for sharing it.
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Race2Millions

13 years ago

Thank Zeus,

I have yet to have great success with info marketing such as clickbank. I think I'm gonna take your advice and find a great niche and start building an email list.

Heck I may even start a thread documenting my progress...

Thanks
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Zeus66

13 years ago

Originally Posted by Race2Millions

That would be cool so we can see your progress. You can seriously create a full-time income just from your list if you do it right and take care of the people on your list. I wasted so many years without a list. HUGE mistake. I'd own a yacht and a few extra mansions by now had I started back when I should have. Live and learn.

Thanks
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Race2Millions

13 years ago

Originally Posted by Zeus66

Well here to my Yachts and Mansions

Started a thread warriorforum.com/main-internet-marketing-discussion-forum/316042-they-say-money-list-we-will-see-case-study.html

If you have any advice or suggestions to my plan will appreciate it.

Thanks

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alcymart 13 years ago

I agree with both, I made the same mistakes many moons ago else I would be a millionaire many times over.

Take care,

Bernard St-Pierre
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MikeLiving 13 years ago

I myself waited far too long to get into list building. I always thought I needed my own product. It wasn't until it dawned on me that I could get targeted users who would happily buy stuff through an affiliate link that the light bulb went off in my head. I'm glad I did sooner rather than later, but I was definitely late to the party.

I'm a mixed bag on being a product creator. Affiliate marketing has me spoiled for no support, no customer service, no refunds, no returns, etc! Being a product creator means you have to support your product, and do it well or you will be doomed.
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stanislavlem 13 years ago

Hey, John. Waiting too long to build a list is a real #1 mistake in my opinion.

Recently I found a mentor and he said the same thing you say. List is the magic!
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whiteshadow1890 Banned 13 years ago

We all learn from mistakes, that's way i consider that making a mistake is ok.
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- Steven Wagenheim 13 years ago
  
  John, believe it or not (hand to God) I made the same two biggest mistakes.
  
  I didn't build my first list and create my first product until I had already been
  doing this for about 3 years.
  
  Dumb, dumb, dumb.
  
  But you can't go back and regrets, IMO, are for losers. I simply look at it as
  part of the learning curve and have moved on.
  
  Besides, maybe I wasn't ready to build a list or create a product right
  from the start. Maybe my product, 8 years ago, would have been so bad
  that it would have destroyed my reputation before it even got started.
  
  Maybe I would have been so clueless on how to treat my list that my
  turnover would have been horrible and I would have made no money
  anyway.
  
  Everything happens in its time. I truly believe that about everything in
  life. That's why I don't sweat things like success anymore. It will happen
  when it will happen. Someday, I will make that physical product and
  have a huge launch just like the "big boys". But the time isn't right.
  
  I'll know when it is.
  
  Anyway, thanks for sharing because I think your two has got to be in
  the top 5 for most people.
  
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Sylvia Meier 13 years ago

I'm guilty of the same mistakes.

It's kinda funny for me though, because at least with the list building, I did start it right away, but not in the IM niche.

My two largest lists are in very targetted niches, and I started them at the same time I built the sites, so they're over 3 years old now. I wish I had done the same with IM, but I waited till last year. I think I needed to reach my own level of personal success before I felt comfortable marketing to marketers.

In regards to creating products I did create one about 2-3 months into IM and it flopped. I sold I think 5 copies total. And that really killed my product creator mindset. For some reason I think I believed you had to get it right the first time or you weren't going to succeed at it. If I had known as I know now that some products are hit and miss, and the fact I even sold a single copy was a success I would've continued creating products right from the start. Instead I waited more than a year before trying again.

In the end, I really wish I hadn't made those mistakes, but it's all working out now so I can't complain.

Best wishes,
Sylvia
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cashcow 13 years ago

Same two mistakes here!

Although, I will say I did build lists early on but I built them because I always heard I should have a list and I didn't really know what to do with them so I didn't make much money from them (All non IM niches I might add).

But, I think like Steve said, that it might not be good to do either one of those before you are ready. If you do, you may not get good results and that could turn you off from doing either one of those forever.

Anyway, glad to see that I am in good company!

Lee
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bcturner 13 years ago

But it depends on the quality of the list - right? Product creation? Depends which product.
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- Zeus66 13 years ago
  
  Originally Posted by bcturner
  
  But it depends on the quality of the list - right? Product creation? Depends which product.
  
  That kind of thinking will stunt your growth, young man. LOL
  
  If you wait for perfection, you'll still be at the starting block when the people putting out good (but not perfect) stuff are making money.
  
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Jeffery 13 years ago

Before I found the Warrior Forum I already had two lists and I didn't even know they were called lists. My only autoresponder was the default that comes with Cpanel and still is to this date. At the time I did not know of or ever heard of the term "Internet Marketer, Internet Marketing, Warrior Forum."

The only money I made from my lists was for my services from offline companies. And to be honest I only sent emails out when I added a new feature to my service. This was just a simple description of the new feature and if the client wanted it they would call me and I would schedule a visit to the company.

The biggest mistake I made was "not" introducing Internet Marketing to the companies! More than a few "webmaster services" beat me to it and they did very well in terms of profit. However, later, I provided a better service and pushed them all out of the geographical area.

The second biggest mistake I ever made was working with who used to be a influential marketer here (not his fault). His competition intentionally and completely destroyed a service I provided, yet ultimately I was at fault for "not" knowing my way around the block and "not" knowing what (who) lay hidden in the alleys - laying and waiting. Moral of that story is.. be careful out there.

Jeffery 100% :-)
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Jake Gray 13 years ago

I never really found out how useful a list was until the last few months when I started taking a look at product creation.
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esmconcepts 13 years ago

These indeed are good ideas and along with several more in IM field. I find that in my research to complete task I set is that I find new ideas that lead me off the main trail I was following and hence time lost.

I thought a good idea would be to have a keyword tattooed on my forehead so that every morning as I look in the mirror I would be reminded on how to proceed to meet my goals.

The keyword is: “SUCOF”.

I just did not plan in the mirror aspect well enough.
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gvannorman 13 years ago

Knowing what kind of product to create and sell seems to be the biggest issue that people have.

You say that not building a list and not creating a product are your biggest mistakes. This makes it sound like you can not make money without first building a list. Is that really true? I have not built a list or even a product. So does this mean that I can not make money online or in the Internet Marketing field?

Just wondering
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Steve Sieverding 13 years ago

That is so funny, I am always procrastinating those two very things. I'm even doing it right now by posting! I just don't know what kind of product to create but I'll do it eventually right? :p
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