Wednesday, June 27, 2007

Making a living selling the sizzle

I've run across more than one person, especially while researching how to market on the Internet, who makes their living selling only sizzle and never giving out the steak.

They have a "sales funnel" which has increasing prices for everything and always just moves you on to the next (higher-priced) level and never really delivering the goods.

Cults and some big businesses are like this - they promise the moon but never deliver it, saying that you really just need the next level in order to get closer.

Now, in marketing, this actually does make sense - but only in advertizing, not in product delivery.

Any store you walk into sells you products. And every product works. But their marketing is done for them by those companies - they mostly lure their customers in by offering special limited-time offers. Stores depends on the quality (or addictive nature) of the products they sell in order to continue in business.

Some internet marketers sell only sizzle - until they can get you to pay for personal seminars and coaching (at $500 to $1000 a pop) where they can then continue to lead you on as an "expert" in their niche. That's the key - continue to lead you on.

Now their sales depend on volume, since only a fraction (about 3-4%) will buy anything they put out. All the rest fall off at some point or another. It's the bell curve/long tail in action.

The trick is that if you are really delivering what people want all along the way, they remain satisfied customers. If you are only selling sizzle, you are creating dissatisfaction.

But with the Internet, you might think that there are unlimited amounts of people out there - after all, a sucker is born every minute - and so you can continue in this fashion forever.

Actually, a person could - and make a nice income while doing this. And so this is a common practice.

But would you like some serious money - millions or more? Then give out at least some hamburger patties at various levels. And have several varieties of steaks, saying that if you liked this steak, you should really try...

And yes, all the steaks are pricey and the hamburgers less so. But the individuals who are making their living selling only sizzle are limiting themselves to less income than is possible.

If you check out the life of Corey Rudl, or the books of Robert G. Allen, you'll see how to create fortunes with multiple steak-sales-outlets driving business (and income) to you.

For the way to REAL wealth is having multiple steak franchises going... not just selling tickets to the fan blowing the char-broiled flavor into the alley.
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