Tag Archives: products

Pot Odds In Internet Marketing

Many of you know how much I love going to play poker. I get a lot of enjoyment out of it because I love the camaraderie that eventually is created by spending just a few hours with a bunch of people you’ve never met before, commiserating with everyone else who’s either won a big hand or gotten beaten in a big hand. We’ve all been there, and we all have stories to share.

One thing I like to believe I’m good at is figuring out what the odds are that my hand is good or not. Of course, having a good hand doesn’t always mean it’s a winning hand, but more often than not it works out just fine. What I’m not good at is figuring out the numbers, as in what the actual percentage is that favors my hand.

I was reading a blog post called Easiest Way To Understand Math In Poker, where the writer, named Mitchell Cogart (knew I liked him for some reason) was giving some formulas for how to calculate it fairly quickly. It’s still somewhat beyond me, mainly because it takes time to do those calculations, and unless I was playing in a tournament, I don’t like taking that kind of time figuring out anything.

However, it’s the other thing he was talking about that starts to get me into the point of this post. There’s something called pot odds that, to poker players, is very important and very intriguing. In essence, it’s figuring out how much the pot is worth to you in odds versus the odds of you having a winning hand. Just to throw out numbers, if you only have a 30% chance of winning a hand, but the dollars in the pot come out to you having a 55% chance of winning the pot, many poker players will take a chance on the money rather than their hand because they perceive the dollars are so high that you can’t afford NOT to play the hand.

I hear this on poker commentary sometimes on TV. The guy will say “there’s so much money in the pot that so-and-so absolutely has to call the hand, even though he’s going to lose.” On TV, you always know what the players hands are, so you know who’s going to win or lose. But the players don’t know that, so you see them taking time, running through all the calculations in their minds, and then they’ll pull the trigger on hands that most of us would say we know better than to play because we have no idea on how to calculate pot odds.

In a way, you can relate that to trying to learn more about internet marketing. There are a lot of products out there that will teach you something about it. Some are very good and some aren’t all that good. However, what most of us believe is that the more expensive something is, the more we should be getting out of it. Truthfully, that may or may not be true. The “pot odds” are in your favor; after all, why would someone put a $500 product out there that wasn’t going to deliver on what’s been promised, right?

Here’s the thing. Just like everything else in life, nothing works for everyone. It’s possible that the $500 product might tell you everything you need to know to make money, or it may not. It may tell you things to do that your morality won’t allow you to do. For instance, if it said that in order to make lots of money you have to kill a lot of puppies, would you do it? If it said that you had to do what’s known as black hat principles, would you do it?

While I was at my mother’s house on Friday, she was watching this network that was advertising a program called Kell On Earth, about this fashion designer who’s very successful. However, she’s a terror; there’s no way I’d ever want to deal with that type of person on a yearly basis, let alone a daily basis. She berates her employees and other people around her, but justifies it by saying she has to do what she has to do to stay at the top. I’m sorry, but if you have to treat people as if they’re inferior to you then I don’t want to be successful. It’s not my style, and I couldn’t live with myself. Yet there are thousands of people who subscribe to that and believe it’s the way to go. Notice how some are successful, but others aren’t? Once again, no one size fits all.

Some folks thought I was being too lenient when I reviewed Six Figure Blogger Blueprint. The thing is, the book wasn’t really for those of you who have been doing this for awhile. It was also free, not a full course on internet marketing. It got me thinking about things, and any book that does that for me works for me. We all judge things differently. We have to know ourselves, and what we might respond to. Like that book to the right side there, 20 Ways To Make $100 A Day Online. I bought that book, and I think it was perfect for me because I was able to take just one of its principles and turn it into a way to make money. It wasn’t overly expensive, but turned out to be just what I needed. I calculated my odds for finding something I thought I could use, and I turned out to be right.

How do you determine whether something might work well for you or not? Do you even try anymore? I say that at the risk of jumping into Sire’s response, because I know he’s said more than once that he won’t pay for anything anymore, after being burned many times early on. Has that happened to some of you as well? I’d really like to know.

14K Yellow Gold Diamond Heart Bracelet

14K Yellow Gold Diamond Heart Bracelet

Price – $404.08


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2009’s Top Inventions

Time Magazine has come out with a list of the Top 50 Inventions of 2009. I’ve taken a look at the list and feel totally lost. Most of these things I’ve never heard of, and as I like to consider myself a news and science junkie, this is quite disappointing. Let’s see which ones I’ve at least heard of, if not personally used.

I’m not a gamer, but I have heard of controller free gaming, where the body is the control and everything reacts based on body movements. That sounds intriguing, but I’ve yet to see it in practice.

I’ve heard that there’s a new Aids vaccine, but it comes along the lines of every other vaccine that still hasn’t had much done with it. Why it’s on the list, I have no idea.

Vertical farming is a very interesting concept, one that’s not really an invention in 2009, but has started coming out as a viable option in farming. In essence, it’s farming in buildings rather than on the land. One builds tall buildings where some of the layers have dirt and crops. You could build these in large cities, which would cut down on the cost of importing certain items into the city, and potentially be able to feed the entire city from within. The problems right now are having enough electricity to handle it on a large scale and of course having enough water But the concept is a fantastic one.

The 3-D camera is the last thing on the list that I’ve heard of. Instead of one lens, it has two, trying to simulate how life views things to try to give a more realistic image. The problem is that, to see it in 3-D, you have to have a special viewer, otherwise it looks just like any other image. Not necessarily Harry Potter stuff, but it’s an interesting concept.

Isn’t that a shame? Out of 50 items I’ve only heard of four of them, and only one of them do I know anything significant about; ouch. Is this a sign of age, or is this a sign of everything else being so cutting edge that there’s no reason I should know about them? I’m sure you’ll let me know, and I’m betting those closer to my age will give answers closer to mine, if they’re honest. lol

Happy Thanksgiving everyone!

Xbox 360 System – Call of Duty: Modern Warfare 2 Limited Edition Console (includes 250GB HD, Game, 2 Controllers)

Price – $399.99


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Creating Your Own Products; Let Me Talk About Mine

Something you hear many of the internet marketing gurus talking about is creating your own products, especially information products. Supposedly there’s this big market for almost anything that’s intellectual property, and big money can be made from these things.

Well, I’m about to somewhat challenge that view by talking about my own products that I’ve created. Some I’ve talked about here, while I haven’t talked about the others. So, I’m going to do that here, with links to where I might have talked about a product before, and then talk about the other things I have. Of course, within those other links is a link to my product.

First, for this crowd, is my book Using Your Website As A Marketing Tool, which is up there at the top left of this blog. Do you know how many people have actually visited the book from this blog? Four ever; period. That’s it. Now, to be slightly fair, the last time I actually promoted the book in full was in August, but come on, only four people ever, with all the visitors I have coming to this blog? All the people who say they’re interested in making money, all the people who have businesses with lousy websites, and I could only drive four people to that site? That’s pretty pathetic. What’s also pathetic is that for each of the times I’ve written about this book, I didn’t get a single comment on that post; I’m obviously a terrible marketer.

The second thing you see over there is for my webinar Social Media, SEO & Your Business in 90 Minutes. That post also didn’t get a single visit, and I’ve driven 3 people to check out the ad for the book from this blog. At least it’s newer than the other ebook, but still,… And, once again, no comment on this post, though I did get a couple of comments when I was talking about it before I actually did the webinar. Once again, created product, but lousy marketing I assume.

Next, look to the left there under the ad for 123Inkjets. This is my book Embrace The Lead, the one product I’m the most proud of. It was a labor of love, and I worked hard on completing it before my dad passed away. I was able to get 9 people from this blog to go look at it, but that’s not really great either. It has been my biggest selling product over the years, as I sell it in both electronic and soft cover form (I’ll even autograph a copy if asked). But I have to admit I’d have thought I’d make at least one sale from it off this blog, which has never happened. I have made a sale because of my Mitch’s Blog, which is my business blog, but not this one. And I’ve had two different squeeze pages for this book, but neither has generated all that much action ever, which is why it’s a muted looking page integrated into my business website format.

Below that is my CD series Keys To Leadership, and I’ve driven 7 people from this blog to check it out, even though it got some nice comments here. Seems people were more interested in what I had to say on the blog, which was a pretty funny story, than actually deciding it was worth taking the time to go see what the CDs were all about. You know, it makes me wonder just how many people actually even use the Listen button at the top of each blog post instead of having to read some of my longer posts. Okay, that was a sidebar thing; don’t answer it. Once again, it had one of those fancy squeeze pages that I later decided didn’t work, and integrated it back into my business website.

The last two products I haven’t really talked about here, but I will now. One is called the Mitchell Manager Training Program, and is a training program for new managers who want to gain some skills in things managers or supervisors need to know, but don’t have time for a lot of deep theory. It also has a portion that talks about stress and time management, as well as a brief lesson on budgeting. Sure, it’s still around 150 pages long, but I wrote it to be fairly easy to understand. Two weeks ago I made my first online sale, as it was only maybe 4 months ago I turned it into a digital product and began marketing it in that fashion. This one has never had a squeeze page; I’ve always marketed it basically through my business website. I haven’t put it on this blog because, frankly, I figured I’d be wasting my time. After all, it hasn’t lit a spark for any of my other products.

And finally, there’s my Mitchell Employee Evaluation Module, which has always been on its own squeeze page, though I’ve thought about pulling it back within the business site. It’s about 27 pages worth of information and sheets that will help managers evaluate their employees, as well as set up criteria to use in evaluating new employees. Once again, I’ve only made one digital sale of this product, and the buyer seemed to be happy with it. I knew this one would have no interest whatsoever on this site, which is why I haven’t marketed it here before now.

So, there’s six information products that I’ve created, and how are the sales? Lousy. How is my marketing? Obviously lousy. See, a big part of the piece says to try to find out what someone is interested in, then create something towards that interest. The other part of it is that, if you’re not interested in that, how the heck can you write about it? Some of these gurus aren’t interested and don’t care about stuff. They pay someone else to write it, someone else to help market it, and collect the profits. It works best when they’re already big names in selling something else; I doubt most of us could get away with that.

And why would we want to? What could be more dishonest than that? Matt Cutts was talking about that once with a website that advertised medical services that someone needed for their mother, but when asked for more information they couldn’t give it because the person knew nothing about the procedure; they had paid someone else to write it for them so they could put their name on it. How irritated would you be about something like that?

In any case, this post has a twofold purpose. One, to highlight all of the products I’ve created thus far; more are coming as I move along. And two, to show you that even creating your own products doesn’t guarantee success or interest. This doesn’t mean don’t create new things; it just means to temper your thoughts on how successful it might be once you put it out there.

Once again, there are no get rich quick schemes.



Ultra Diamonds

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Product Vs Advertiser Ads

Most blogs these days have ads, and unfortunately, most of us don’t take the time to look at anyone else’s ads because, well, we do have our own. However, I’m someone who does take a look at ads, because I want to see what other people might be marketing and how they might be doing it; learning how to be a good internet affiliate marketer is difficult work, after all.

It’s occurred to me that basically there are two types of ads; product ads and advertiser ads. Product ads are, well, marketing products. For instance, if you look at my blog, you see that along the left side there I’m marketing products, starting with mine, then a couple of books. Some of my blog posts will have specific product ads, such as my last post (and I’m buying those suckers one day soon). Sometimes the product ad looks like an advertiser ad, but it’s a product.

When we get to specific product items, such as computers, jewelry, or items like that, only myself and Sire, of Wassup Blog, seem to have actual items that we market, though his are more consistent than mine, as I have mine rotate on the side via TTZ Media, and within specific posts I decide on a product through Commission Junction and post it here.

Advertiser ads are promoting advertisers, and I’ve noticed that a lot of blogs have those, including mine. For instance, over on the left again, you see advertisements for Buy.com, National Geographic Store, Lapworks, etc, and in some posts, like this one, you see I end the post with an advertiser ad. Those take you to a page where you can look around and buy something.

But those aren’t the only types of advertiser ads. Though I noticed that I don’t have any right now, there are advertiser ads that market the advertisers themselves. For instance, on Caleb’s blog, Market Secrets Blog, he has ads that market Adbrite and Pepperjam network, two that I haven’t tried out yet. On Sire’s blog, he has ads that market Onmarketer, Chitika, and ClixGalore. Yan’s blog Thou Shall Blog, he’s marketing Oiopublisher and Market Leverage. Even on Darren Rowse’s blog, Problogger, even though all of his ads are actually sponsors, he’s marketing Inlinks, LinkWorth, MLTV, and some others.

My question comes in wondering which types of ads for most people actually work for you. For the few of us who own up to our monthly blogging or online income, I don’t see all that many of these ads working all that much for anyone. It’s because of this that our friend John of 21st Century Affiliate Marketing has said that he’s beginning to remove almost all of these types of ads to try something new, which he hopes will help stimulate online sales. Indeed, though I like having lots of different types of ads and products on my site, and other sites, it seems that these items rarely get all that many clicks, let alone sales, and yet I’ve noticed that I have clicked on some of the items listed above as advertiser ads, mainly because I’m thinking about marketing by using them to see how they fare. So, my impetus is purely as a test market, and not necessarily because I’m hoping to buy anything. But I believe that, when I actually decide to sign up via one of these links, if I got there through someone’s site, they get some kind of monetary reimbursement from it.

Anyway, I’m wondering what y’all think of things like this? If our goal is really to make money with our blogs via affiliate marketing, it almost seems that the best way to do it is to write good content, try to jump up in some kind of rankings such as PR or Alexa, which seem to mean something to advertisers, and sell advertising on your site, ala Problogger. Visitors drive advertising, which is why I tried earlier this year to do my RSS subscriber contest, and goes back to a conversation I’ve had lately with our friend Mirjam of Me Myself And I Blog, as we’ve been talking about this issue of massive traffic that we both wrote about. Indeed, trying to obtain that kind of traffic just might be the only reason one may not care as much about targeted traffic.

So, share your thoughts and feelings on this topic, if you will. No, I didn’t get into the contextual ads specifically, but I consider those as product ads, even if the products aren’t always so clearly defined, because they’re not trying to get you to go back to the site itself to help market them.


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Embrace The Lead

I must be the worst promoter in the world. I just realized that I’ve never really talked about one book that’s more special to me than any other book I’ve ever come into contact with.

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Enjoy this pic; the book’s
over there to the left

That would be a book called Embrace The Lead – Strategies for Management in the 21st Century. Why is this book so special?

Because I wrote it; yup, I’m a published author. Of course, I’ve mentioned it briefly in the past, especially when I wrote a post on how to publish a book. It’s self published, but I have an ISBN number, which means I’m considered as much of a publisher as the big boys, and thus I could sell my book on Amazon or Barnes & Noble if I so chose to.

Let me talk a little bit about my book. It’s a book on leadership and management, and in it I discuss the state of business, employees, and management in today’s working environment.

Let’s face the fact that no one is buying the old story about your place of employment being a “family” anymore. The challenges for employers thus has gotten tougher. It was always relatively tough to begin with, because one thing companies almost never invest in is leadership and management training for their managers and supervisors.

Everyone has reported to someone without the skills for the role, even if they had supreme skills to do the task at hand. In today’s world, bad managers have it even harder because today’s employees aren’t going to stick around in fear of not being able to get another job. Even now, in a bad economy, most employees will look for something else and be gone in a heartbreak because they know they can’t trust companies anymore. Without managers who are also good leaders, there’s nothing encouraging them to stay.

In the book I talk about today’s employees; why managers may be like they are; give a breakdown on different employee types; and discuss tips on criteria for becoming a good manager. For anyone who is in a leadership position at their company, or for anyone who’s thinking about it, this book is for you, from someone who’s been there. Did I happen to mention before that I also do leadership and management training, as well as executive coaching? Why yes, in my post on About pages, which was one of my most popular posts at one time.

If you’re interested in learning more about my book Embrace The Lead – Strategies for Management in the 21st Century, click on the link to see more, including testimonials. I also sell it in two versions; the ebook, and the soft cover, which, if you ask me nicely, I’ll even autograph for you when I send it to you. Now, how many other folks are you going to be reading today who’ve written a full book, and not just an ebook? 🙂
 

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