The "Death Of Internet Marketing" report was created and distributed by Mike Filsaime a couple of years back. This article was actually written a couple of days after it was released, but has been residing on my site until I pulled it off. Anyway, DOIM was one of those reports that actually got many people talking. Yet, because of the way it was marketed, I think it got a few people thinking about it, but probably not enough. Even this year, people aren't doing what they need for their business, and I honestly don't care if it is online or offline.
Well, Mike says "Internet Marketing Died". So here's Stuart Tan's autopsy:
So... let's just say that I'm going to do a post-mortem after this report is out into the market. Yep - we're all into forensics now, with so many interesting metaphors such as the "death of internet marketing".
Most people would have by now read Mike Filsaime's "Death of Internet Marketing", Rich Schefren's "Internet Business Manifesto" etc, etc. In my opinion, the biggest issues have not been dealt with. Mike undoubtedly gives a fantastic exposition of what was and what is to be.
Why am I writing this? Because after looking at all the emails coming in about Mike's report, I came to the conclusion that:
most internet marketers didn't 'get' it. They said "it's a good report". That's not what it's about.
The reviews about Mike's report were far too simplistic about implications about what he really had to say
Firstly, these reports really weren't for the newbie in internet marketing. They are for experienced marketers who know what is happening in the industry. Second, it's a foregone conclusion that you need to be more of an entrepreneur... not just a marketer.
For those of you who are unable to keep up with Mike's brilliance, or think that this is the be-all and end-all of marketing strategy, most people have missed the basis of Mike's report.
Component #1 - Don't be lazy!
If you want to be lazy, you'll go to the sharks. Most of the hardest working internet marketers are also the wealthiest. Again, I'm not suggesting that you are going to become wealthy by only working really hard. The truth of the matter is that working hard to achieve auto-pilot in your business does require a bit more strategizing and action.
Component #2 - Assess trends!
Staying outside of the box? Then you'll definitely be very lost when it comes to assessing whether or not you should take on a business model like affiliate marketing, or ecommerce... because you have insufficient information to be able to decide. Assess trends. Watch the web. Look at all the stuff that is progressing right before your very eyes. Get on technology forums and learn, learn, learn.
Component #3 - Credibility As Weaponry!
Through all this hype and a very severe lack of information, it's difficult to decide whether or not to buy one product or the other. The main deciding factor will come from someone whom you trust completely and will be willing to buy simply because you deem this person to be credible. So, build your credibility! It will take more than just one report to do this! Build your credibility! Set yourself up with the right people, credentials, etc. Or better still, get on one of my teleseminars.
Component #4 - Forward Strategy!
It's not easy to move forward in internet marketing, but that's often because one doesn't have a clear direction in the first place. Vision, as Mike says, is important. I believe it's more than just 'vision'. It's more like the ability to focus on what needs to be done, and just taking action and doing it, having already decided that it is something you will accomplish at all cost.
Too many people balk at doing the things that matter. They end up procrastinating! Okay, I'm not an angel myself 100% of the time. But think of where you are. For instance, you know for a fact that you need to create content for your site. Say you're not a really good content creator. What next? Wait and hope that money will fall from the sky? I don't think so! You still need to find a way to get it done. Or, make a way! You may have to think of ways to get your way even though you can't do it yourself.
Component #5 - Polarity thinking... and the Stuart Slap!
When everyone is doing something, you have to do the complete opposite.
Look at the infamous Google Slap. If you're not familiar, Google "slapped" people a number of times already. When people don't provide good value, they get slapped. This is to force people to avoid their own impending doom. It's like a parent slapping their children to not touch the burning flame. Still, people go ahead, get burnt, them blame the person they last encountered. Tsk. Tsk.
The internet marketing world is filled with sheep. One person goes there and everyone follows. This is good news for the person who knows how to exploit this situation. When everyone moves in one direction, they miss out opportunities that already exist.
One example is this - now everyone in Asia is heading and attacking the internet marketing niche. I know it's not the right thing to do to monetize, and there are many other monetization sources out there. So what do I do? I spoil the market so that people will not be hoodwinked into buying non-value-for-money items. Is it a good strategy? Some people will hate me for it. But it will force the survivors up the chain, the credible ones will quadruple their income, and those who can't handle the heat either give up or find another niche.
It's not hard to understand. But the fact is, newcomers to the internet marketing world will look at these reports and say 'what the heck do they mean'? Such things will garner a lot of value for the average internet marketer, but will hardly make sufficient sense to the average newbie in internet marketing. To them, it's like "oh yeah - I'll focus on my business strategy" or "sure, I'll use a one-time-offer". It seems like a 'no-big-deal' thing.
Well, of course. That's because there IS no big deal. We've come full circle. If you don't do it right the first time, conventional wisdom like "failing to plan is planning to fail" will suddenly make lots of sense. Are you willing to wait until that happens??
The Evolution Of Marketing Strategies
The truth is this - marketing strategies have been evolving. Every day, there is a new strategy or tactic pulled by someone to create the next wave in internet marketing. But the truth is that most of them start with a concept from thinkers everywhere.
"This Article Is Not Meant To Overwhelm You!"
Yes, be overwhelmed, if you choose. I am still stumped by the fact that beginners are still lagging so far behind. I can't blame them, but I can blame internet marketers for not helping to chip in to clear this.
Excuse #1 - They are lazy
Interpretation - I'm lazy.
If you as an internet marketer are reading this and not going all out there to clear the air and help out building the market, the industry will become stagnant and there will be very little left that can be done in the industry. Mike's prediction will then come true. We probably wouldn't be able to sell anything because subscribers are going to be lambasted with emails over and over without the right ability to decide what to choose and why.
Most internet marketers are themselves lazy. That's the plain truth, and many admit to that. But they are propagating the problem, not solving it. Instead, they will need to cultivate a voracious appetite for information in people who are completely new. Disagree with me all you want. You're the one reading this article.
Excuse #2 - They are not technical
Interpretation - I can't be bothered to look at ways in which newbies can learn easily.
As a trainer, my angle as always been to simplify, simplify, simplify. If I can make a complex process simple enough to follow, there will be understanding and comprehension. This is good enough to start. When someone says that there is a complete lack of understanding, then that same person is going to be the reason why I start to alter my instructions or the way I teach.
Excuse #3 - I don't have enough resources
Interpretation - I'm not creative enough to find a better way.
All the experts out there had better find a way to utilize resources to make beginners learn in a more efficient way. Admittedly, I want to do this myself, but have failed in attracting the right learners much of the time, as well as to attract the right coaches. Too many times, people are in it just for the money. Selfish, selfish, selfish. It's not wrong, it's just selfish. Can you find better ways to do it? Challenge yourself!
The Newbie Phenomenon
For every one or two internet marketing gurus, there are several hundred newbies who develop. At the rate of growth of internet marketing, there will be far more newbies than there are experts. The lop-sidedness of this is true - only 5% of the population will earn a decent income from internet marketing related products. The next 10% will probably be working very hard and earning decent 6-figure incomes. The next 25% are probably working hard and earning a high 5-figure income, but the mean range of the next 35-40% of internet marketers are struggling with 4-figure incomes. What this also means is that 25-30% of every internet marketer's list has a bunch of newbies who are afraid to start internet marketing and don't have a clue what to do.
Here are typical mistakes newbies make:
1. Diving into the "internet marketing" niche.
I see so many newbies with 'cut-and-paste' approaches, attempting to encroach on the very large and highly profitable internet pie. I apologize in advance if you are one of these people. You will earn some income, but you won't really make much. A couple of hundreds, maybe?
If you are one of these, you are the kind of people being described in Mike's report. Students of the gurus and guru wannabes. In my opinion, the biggest issue alluded by Mike's report goes FAR BEYOND what he actually mentions. It's a common thing, but missing. It's called research.
It's so plain and simple, and all the information is literally right in front of your eyes. But you've been given so many opportunities that you don't know which one to sell or to understand which niche to penetrate.
Key lesson: to be an excellent internet marketer and entrepreneur, you MUST know how to assess the market. You MUST know what weapons are at your disposal, and you MUST know how to make a decision about what to sell, who to sell it to, and how to go about doing it.
2. Affiliate marketing without 'affiliating'
Don't you think that the issue in people selling other people's products is clear? People want anonymity. They want to sell something without having to put their picture on the web. This is silly. If you want to be an affiliate marketer, you have to learn how to do it without fear of being revealed. Unless, of course, you are an employee who doesn't want to be caught.
Wait a minute - if you simply reversed the role, would YOU buy from someone who had something to hide? The whole idea about affiliate marketing is that people have forgotten that they need to be doing more "affiliating" than they do "marketing".
Key lesson: Loyalty will be the determining factor in your business strategy.
3. UnCreativity - The Same-ol' same-'ol
Someone says "do a report" and you do it. Someone else says "use a drop cap" and you use it. I don't mean to put down such information. I do believe that it has been useful to some extent. But my question is... how do YOU know?
The big irony is that the report entitled "The Death Of Internet Marketing" was being spread using the exact same mistakes that it talks about in the report itself! You see, the truth is you might be able to pull off the same stunt a couple of times, but on the third attempt... nah.
You cannot (and should not) re-use methods developed by other people. The ideas are already pass� the moment they go out on the net - after people use it over and over, it's like a degrading gene pool. If you want to do something outstanding, then innovate a little. It's the small innovative tweak that gets people to smirk, nod their heads and say 'wow, that was brilliant'.
If you don't know, then you won't know the foundational principles of how people react to your writings, reports, etc. It's essential for you to be able assess their reactions and how they take action based on what you say, and to be able to do this well.
If you are just doing cut and paste strategies, sure you can work with your list for a while, but you are still not cultivating a relationship with them. You are merely overloading them with information.
Key lesson: If you are attempting to breach the internet marketing stronghold, you need to have far more than just used tactics and strategies. You have to think. You have to innovate. More on this later.
Other issues In Internet Marketing
1. Quality of products: no standards of assessment
What else did Mike say? He mentioned that many people are buying and buying into opportunities then heading off in all different directions. I see this happening right in front of my very own eyes. At the same time, he mentioned the concept of Web 2.0 and user generated content and the ability for users to rate and comment on a site. I've mentioned this several times in my internet marketing seminars. But the issue is, so what?
You need to be able to assess the quality of something. How well you can assess the quality depends on the level of the user. I mean a complete newbie will hardly be able to provide an effective evaluation from an internet marketing perspective. In addition, there is also a growing trend for internet marketers to provide rewards for testimonials. This is hardly a fair judge of a product.
As a trainer, I often request for feedback with a standard evaluation form at the end of my trainings. This form is created in order to assess specific elements in the training. The concept of training evaluation itself is a broad area, and if you'd like to receive my insights into this, you may do so at my Business Strategy section on my blog.
2. Marketer recognition
As you know, marketer recognition is an issue. Most people do not have the means to be able to establish a high enough level of credibility until they align with other top marketers. However, there is another way.
Be aligned with happy and satisfied customers!
Some of you might think that this is about building a really large testimonial list. Well, this testimonial list leverages on the psychology of social proof. However, if you are not schooled in logical analysis, you will not be able to pick out flaws in arguments. One such typical flaw is called the 'slippery slope' technique. "He was really good. He gave me a good product. Yeah." What in the world kind of testimonial is that? How about this instead:
"Stuart, wow, you've made this a fascinating 2 hours for me. The chemistry is very good between us I love the things you've said and the questions you've asked. I'm deeply grateful to you for being so insightful as to the things that are important to [guerrilla marketers] everywhere." ~ Jay Conrad Levinson
Satisfied? Happy? Well... you have to build this as part of your neurological hardwiring if you want to survive online. If you want to get more stuff out from where you are right now, join me to build a credibility plan.
3. Entrepreneurial effectiveness
I'm guilty of one thing - complaining that there isn't enough effective business training for new internet marketers. And as a result of that, I got my just desserts - people asking me to be their business mentor and strategist.
In my opinion, business training is not just about taking a degree in business management and graduating top of the class. It's about making a business come to fruition. These skills include a whole bunch of stuff such as knowing how to conceive a business idea and put it into a plan in the first place. Another is to know what your strengths are and put them to use, while knowing how to delegate to people who can use their strengths together with yours. This basically implies the need for leadership.
Most newbies are attracted to the opportunity, but not willing to make the time or effort. However, those who are leaders already take the next step and make this happen. Leadership in an organization is important - tons of authors have already made this clear, especially one John C. Maxwell, a very highly respected leadership thought leader. On the other hand, it may be that some people think of leadership as something so 'normal' they forget to revere the importance of its value in running a business.
The biggest mistake one will make is to say that it takes hard work. No it doesn't. It simply requires an effective and systematic mobilization of resources to get your system to work.