How Much Do My Customers Earn From Internet Marketing and What Are Your Chances of Ever Making a Dime or Getting The Same Results, Traffic, Sales or Response I Do?
In a fairly recent survey of my cusotmers and list members, I asked how much they have earned online to date.
Now, the people who answered this survey were not all customers of mine. It included a cross section of customers and people who are on my list and likely read my ezine, and hopefully follow at least some of the things I teach there.
Also, these figures are not exclusively based on using what I teach. I don’t think there IS anyone who ONLY buys and uses my products and teachings. If there is, it’s only a few people. In reality, people buy books and ebooks at Amazon, books at the bookstore, courses and ebooks from other teachers of marketing and Internet marketing. If I DID have numbers on people who exclusively used my methods, I’m pretty sure they’d still be very close to the numbers below.
5.1% of 178 people who responded said they have made over $100,000. That is cumulative and not in one year, although it could be in one year. That number is higher than I expected.
7.9% said they’d made over $10,000. Now, in a follow up survey I need to break that down on earnings between $10,000 and $100,000.
9.1% had made over $1,000. 38.8% or roughly 40% hadn’t made anything.
Now, here is what I want to point out:
What these numbers do NOT show is the percentage of people who consistently worked at least one hour a day for say 6 months or a year. I plan a follow up survey on that BUT I can tell you it’s likely ABOUT the same percentage of people who have made $100,000.
I can ALSO tell you that those 40% who never made anything could run a wso and probably make their first $50 or $100 within a week or two or three, depending of course. If they put an ebook on Amazon, there’s a very good chance of making your first buck or 50 bucks, or a lot more than that. If you put an auction up on ebay or some auctions, you got a very good chance of making some money. If you put an ebook up on Clickbank or Tradebit, you got a very good chance of making some money with a little effort, promotion and publicity.
The bar is pretty darned low for making some cash. You can make good Youtube videos, become a partner, and get Adsense royalties sharing. Lots of people, even kids do that. They get checks and all they do is make videos and stick ’em up on Youtube. All I’m saying is the bar isn’t that high.
So there are the disclosures of earnings. You got like a 5% shot at doing gangbusters with any product, software, method or technique I teach. And you got a 60% shot at doing decent to well with it.
Now I’m going to discuss my PERSONAL OPINION on the above. This is a long bit of info, so only read it if you’re a masochist or insanely curious about my I believe average results is a piss poor thing to require or way to evaluate results.
The law in the U.S. requires us to disclose average earnings. The problem I have with that is THIS: Go to the bookstore and buy a book on how to become a bodybuilder. Now, how many people who buy that book EVER developed big muscles? But the book doesn’t have to give those percentages, does it? Are people "bad people" who buy the book and don’t do it? Does the book "not work" because only 5% of the people used it?
Buy a book on how to build a birdhouse. Out of 1,000 people who buy that book, how many actually build the birdhouse, doghouse or whatever? Is the book a scam because the average person who bought the book didn’t build a doghouse?
So why is it that a $49.95 book on how to build a dollhouse or whatever isn’t required to give average results by book buyers but if you sell that on the Internet all of a sudden the rules vastly change?
The fact is, many people buy to learn, to consider, to investigate, to be amused. They may even plan or intend to do something. But they never in reality spend much effort doing.
Like I have a local magic shop. I am an amateur magician. I have a box of tricks here I’ve never learned HOW to do. But I still buy tricks and dvd’s, sometimes for quite a bit of money that i never do anything with.
I enjoy it. I don’t think the magic shop owner has an obligation to reveal to me how many people who buy the floating dollar bill trick ever actually perform it or do it or can make it float like the dude on the dvd. It often takes a LOT of practice eto perform a trick with skill.
Most magicians, even amateur hacks like me, heck even teh 12-year old kids who buy tricks there know this. I’ve met 12-year olds there who amazed me at how good they were!
What I’m saying is, I’m pleasantly surprised at how many people do reasonably well in Internet marketing, not surprised at all that 40% have bought stuff and not made anything. I’ll put my numbers up againsts people who buy books by Seth Godin, Tim Ferris, Michael Gerber, or any other business author. People like to learn more than they like to do. That INCLUDES me. I’ve bought over 3,000 books in my life and only DID a very small fraction of what is in any of ’em. But I keep buying books and courses because I LOVE TO.
Let’s say Bill Parcells writes a book on how to win a Superbowl. How many people who buy that book will EVER win a Superbowl? Is the book or the teaching a scam because of that? Let’s say he ran a seminar for $5,000 on how to win a Superbowl and said he’d reveal all the secrets of doing it. Is it wrong that the average person who attends never even wins a playoff game?
The fundamental issue is "does a person have a right to sell information" even if the people who buy it can’t use it or don’t do it? Does information have value? I say it does. I say I have a freaking RIGHT to buy "how to get rich" by someone who did it if I freaking FEEL like it. And I don’t feel they have an obligation to tell me my chances of becoming a billionaire are like 1 in a billion. Is that NOT kinda obvious?
Finally, I’d like to talk about the people who have lost a lot of money buying business opportunities related to Internet marketing.
Don’t spend $5,000, $10,000 or $20,000 on coaching or a business opportunity unless you understand the risks of starting a business and that 80% of ALL businesses in any industry I know of go OUT of business within 5 years. Don’t spend that kind of money unless you’re willing to trade additional risk for additional reward, you have researched your options, you understand that you may not get a dime of that back, that there are no guaranteed returns in business, in ANY business.
I’m sure there are big name franchises that never make a dime. That’s business.
Some people feel that it’s WRONG to charge $10,000 for any kind of coaching, program or seminar. WHY? Why is it that I don’t have a RIGHT to spend my $10,000 on a coaching program if I freaking WANT to? Let’s say a dude who won one million dollars playing poker offers a $20,000 coaching program on how to win a million dollars playing poker. And he gives you tips and pointers.
Is that evil? Wrong? Does the AVERAGE buyer REALLY believe that because they ATTEND the seminar or coaching calls that therefore with very little other effort on their part they are magically going to hit the jackpot? Yes, a FEW people who I feel sorry for might think that. But would you agree with me that halfway educated people will realize there is a LOT of skill, time and effort involved?
I’m just saying I believe I have the right as a consumer to spend my $20,000 on that program if I so desire, as long as I’m not being lied to. I have a friend and people spent $5,000 to ride with him and a friend in a limo for 3 hours. It was on TV as though it was a scam. Why? If I want to spend $5,000 to ride with a celebrity, do I NOT have that right as a consumer?
Is up to the government to tell me what I do or don’t have a right to spend money on? If I want to spend $5,000 to ride in a limo with Jessica Alba (and she would agree which I’m sure she wouldn’t), but if she WOULD, wouldn’t I have that right to spend MY money the way I want? Or because it’s a lot of money is it somehow intrinsically and inherently WRONG? It might be a waste of money but the bragging rights would be worth it!
I think what SOME people believe is coaching and information have no value. They aren’t worth $5,000 or $10,000. I just disagree. I couldn’t possibly disagree more. I once spent $5,000 on marketing training when I didn’t have the $5,000 to spend. And it wasn’t even well-organized or well-constructed. But it was the best $5,000 I’ve spent in my life. The content was there even if the organization wasn’t. I spent $500 for one sheet of paper once.
Was I ripped off? Doesn’t it really depend on what was written on that sheet of paper? The paper was worth .05. The information ON it was much more valuable.
Now, I personally teach MARKETING. I don’t think you ever waste one penny learning HOW to market better because you can use marketing to help a family member get a job, promote your church or charity, to do a LOT of things. Nearly everything requires marketing.
I do NOT sell turnkey "make money" plug it in and the money pours in. Marketing requires skill, learning and effort. There is no magic money machine. Having said that, I believe the methods I teach are real and work, and I personally feel I teach them far better and with more style than many others.
When I say things like I’ll show you my formula that sells products like crazy. That applies to how MY products sell. And I promise to reveal how I do it. That is ALL I can do. I can NEVER claim you’ll get any results.
a. I don’t know if you’ll DO what I taught the way I taught it.
b. Even if you DO, I don’t know who you sell to, what your product is nor your price points.
c. Even if I did, there are no guarantees in life or business, other than your money back if you don’t get a result. Can you guarantee me you’ll wake up tomorrow morning? Life, as well as business, involves risk.
You may do every single thing I teach and not get a good result. If you can’t tolerate that, you don’t belong in business or marketing. This isn’t algebra. It’s business. Myspace may be all the rage today and a thing of the past tomorrow. Oh wait, that IS what happened. And proves my point. There are no guarantees.
An entrepreneur trades additional risk for the chance to gain additional rewards. I believe it was Adam Smith who said that. If you can’t tolerate taking risk for the chance of gain, keep a job. But that invololves its own risks also, doesn’t it?
So I’m an ambassador of the gospel of Internet marketing. I think it’s the greatest way in the world to sell products and services. I love it and am passionate about it. I do a darned good job of teaching it.
I don’t teach you everything you need to know. I don’t know of any one course or training that does. My college degree didn’t teach me everything I needed to know either. I learn ever day. Every single successful person I know does.