Resource Management Review

● This whole section looks at cross promotion. Not as you may have been taught previously with other products, but this time, relating to the five resources you’ve been gathering. What we’re planning to do now is quickly and effectively bring your resources together in unison, and use the big five to multiply your promotion power many times over without having to ever bring any new resources in at all ultimately demonstrating how even if you have a small amount of resources, you can outperform someone with the same number and quality of resources by up to twenty five times.

● We’re simply going to overlap each of them in a specific way so that each person becomes up to five times more profitable for you in five separate areas. What we’ll also be doing at the end of the next section is providing you with an additional diagram that you can add to the previous one to give a more complete outlook of the whole resource movement and development process.

● Lets begin by immediately looking at the pros and cons and the cross promotion of your list, turning your list into affiliates, customers, long term customers and joint venture prospects.

● Your list. It’s your first contact and your base promotion power that contains everyone that’s ever passed through your site that hasn’t qualified for a specialty list (i.e. bought something and landed themselves on the customers list, or singed up as an affiliate and landed on the affiliates list).

● They’re all here, from freebie seekers to people that know what they’ve signed up for and those that don’t, to those interested in your business, to those interested in following your progress and learning from you. It’s generally the most numerous of all the resources and the lowest quality, but is an essential starting point for filling the higher ranks.

● Keep in mind that it’s not always profitable to expose one set of resources to another. This is especially true for your most valuable resources, for example, you wouldn’t make a strong effort to make your affiliates buy your product, because that’s not their role, and you’ll end up losing profitable affiliates for the sake of a few thousands dollars of sales.

● So, let’s get started with your list now. What do we want to turn your list into? Your list is there for one thing and one thing only, to increase the other four main resources. Turning your list into customers and long term customers is straight forward, and all it requires is simple list maintenance and regular promotion. Quite obvious this one, but there are a few more things that you can do with your list that many don’t utilize.

● The first: Build your affiliate base, and continue to build your joint venture base. Either of these that contain just one person that knows their stuff is more powerful than a list of ten or twenty thousand because of the power they have to make you (and themselves) profit compared to a lone ad of your own.

● This is why many successful and clued-up business owners are willing to use at least half of their list announcements for building their other resources, simply because it’s more profitable. The sooner you can begin to see that it’s far easier to make a lot of money from building resources instead of making sales, and act on this information, the sooner you will begin to make the real money.

● My point here is, especially with affiliate programs, if you have a high commission rate, (higher than the average 50-55% that is) and a worth talking about seventy percent plus, don’t be afraid to tell your list about it.

● So, whatever you do, don’t think that gaining affiliates is all about that little button at the top of your sites with 80% for affiliates written in big letters. Hey, we spend money to promote free products to build our lists all the time, why can’t we do the same for our affiliates? Well, we can, and we do for the reasons we outlined above.

● So, the rule here is just this. If you’re following the charts we’ve put up for you, this guide or a modified version of it, built around your own needs, and your commissions are higher than the average fifty percent, go ahead and make sure people know about it through your promotion. Even consider making it a prime concern of yours to get these affiliates instead of the profits through sales of your big product if you have the choice.

● Now moving on and as far as turning your list into joint ventures goes, this is also very powerful but also open ended and variable, because it’s hard to know exactly what people are capable of when they’re approaching you from your mailings.

● Try not to regulate your JV partners to those who visit your site and individuals picked through top performing affiliates, because there’s a lot of potential elsewhere, namely in your other resources.
● For example, an experienced marketer that subscribes to a selection of lists to keep up with what’s going on around them, happens to subscribe to your list where you’re selling an info product such as this. He won’t buy your small how to product, because he’s got his system set up already and only promotes his own stuff to his list, unless it’s a joint venture (this is very common among the big guys by the way), he won’t buy your big product for the same reason, and he won’t be joining your affiliate program for the above reason. He or she is a heavy hitter with a big list, but you’re missing out. These are the people you’re aiming to cater for here. It’s not good if you’re leaving massive holes like this, because you’re missing out on some huge potential for profit.

● The problems with JVs at this stage is that they become kind of a lottery if you’re not careful.

● You can’t just send out a mailing asking for anyone with a list  of over ten thousand people to contact you for higher commissions, because then everyone else feels cheated and you may alienate some potential affiliates. In general terms, joint ventures should be a private thing, the deal will also vary from person to person, depending on your product, their list size, what they want in return and what you can grant in return. The best way to go about this is to keep it that way. Don’t do a mass mailing just requesting joint ventures for the reasons above, we can’t do that for this particular resource.

● What I’d suggest you do instead, which you should be doing with your list anyway, is carry on as your normally do, sending out your un-intrusive surveys to help with your research and find out as much info as you can about the people on your list, for something in return.

For example a short valuable report that you’ve written on your area of expertise. In exchange you’re getting vital info that not only allows you to tailor your ads to your list providing a better response rate, but at the same time you’re building up a picture of who the good joint venture prospects are. Once you’ve done that, you can go through the results you’ve collected, and pick the top performers, the knowledgeable, and the people with the most resources, and contact them individually.

● As you can see, your list is powerful, but not in the way most make out. Always remember your standard list is there to build your other resources, and isn’t only for making straight up sales, which is where most seem to misplace the power of this tool.

● Let’s move on now to the less obvious resources beginning with your customers. Immediately we know from prior knowledge that your customers have bought from you before, they’re more trusting of you and your products and are in my personal experience over ten times more likely to buy from you again than the standard list.

● Be careful here. This is where we need to look hard at the role the customers play, because they’re more valuable than your standard list in many ways, and often less numerous. For these reasons we have to get it right, because unsubscriptions are far more devastating here than for your standard list. You didn’t spend all that time selling to them and building their trust just to scare them away again.

● So, in the natural flow of things, where do your customers go next? Onto long-term customers. As we discussed the added trust and stronger connection and involvement makes it far easier to sell higher priced items to standard customers. When they buy a second product from you, they turn into long term customers. They trust you, they spend often, and are likely to buy your products with the aim of profit in mind. Often they’ll stay with you for years buying again and again. It’s immediately clear that the wrong move here can hurt your profits hugely, because is where most of it is coming from.

● So, we already know the natural progression of things turns your customers into long term customers, but what about the other resources? Well for a start, I always find it handy to already have your customers on your standard list. You won’t need to make much effort getting them there, because it’s likely they’ll have already subscribed to your stuff through your site, or the first product they purchased.

● This is useful, though, because you can demonstrate to them through offers to customers only that later reach the standard list that they’re also on. I like to do this to emphasize my special offers for customers that have bought from me before are real, and the others don’t get it, further increasing sales and enforcing trust. I would advise in addition to this to leave them on your standard list for this reason, as mailings to each resource should never be the same. Don’t worry about making sure they’re only on one list so you don’t annoy them, they’ll be happy to see they’re special in this way of receiving offers in special mails that the standard list won’t get.

● Next up, affiliates. Don’t mistake your customers for affiliates. Understanding their role is so important here. A mailing here or there attached to your offer mentioning commissions is fine, but remember their role. They’re here to buy your stuff and make you profit. More often than not they will either not know how to promote, or are more interested in buying than promotion. Keep this in mind, and always tailor your mailings to the role the customers play and concentrate on turning them into long-term customers. If you try too hard to direct their attention to affiliate programs and promotion, you’re alienating the people who want to buy from you, and cutting off a main vein and one of the most important stages in actually making a profit at all.

● Finally, turning your customers into joint venture prospects works in much the same way that you carried out for your list. You’ll also be pulling research numbers from these guys, and from that research you’ll know who to pull up for joint ventures. This is the only way to effectively do this and keep the joint ventures personal, instead of just mass mailing a list. It keeps you in the driver’s seat. Of course, at this stage there’s no other way to do this, chances are your list of customers who have purchased from you even though not as big as your list, will be too big to talk to all of them personally at this stage, which without this or affiliate stats, you have no other way of knowing who you want to make deals with.

● In the next section, we’ll continue looking at these resources, and I’ll show you how they begin to get even more powerful down the line compared to your list, often by hundreds of times.

● You’ll see exactly what effect this has later, but I can tell you now that when you launch into promotion, you’ll be drawing on all of this knowledge without having to wade through a bunch of text when you’re busy launching your products and managing resources. You’ll be finding out for yourself very soon.