This is a topic that’s really been on my mind and
after seeing a few things recently that really made
me cringe…I had to get my thoughts down.
Desperation/Greed/Desire for quick growth do
NOT equal long term success.
Sounds simple enough, but the reality is that sometimes
we as marketers and business owners see a chance
at the next big thing, or an ‘easy win’ and jump on it
only to learn down the road…man that sucked.
Seven years has given me a unique spot where I can
kinda look at what everyone is doing now…then stick
around long enough to see the results. I’ve seen a
number of large companies try stuff that bombed then
and ended up doing even WORSE harm down the road.
I watched one company that was small, but growing at
a sure and steady pace, change one little thing that grew
their market share leaps and bounds…only to have that
growth completely wiped out, and the company ended
up going under…sad really.
I won’t go into details about what I saw or what I SEE,
as I hold that info for clients.
But the advice I can give you is this…
1. Take a step back and out of the hype
– What I mean is that sometimes we get so wrapped up
in the next big thing, or a huge potential deal, that we
don’t stop and assess the long term potential.
2. Ask a trusted source for insight
– This is often the hardest thing to do, as you can tell
yourself all sorts of lies to discredit this person’s knowledge
of YOUR situation in order to go with the ‘new thing’.
3. Dig for more
– If others are using it…there are others that AREN’T anymore
and you should figure out WHY! Learn from others 🙂
That’s all for now…so start with #1 and if you have anything
to add the comment section is OPEN!
Hi Brad – good post; I think in the trading industry there’s too much “cross promo for high price stuff that has high refund rates and loses customers’ trust”, especially with some of the recent product launches I’ve seen… and that’s the opposite of long term thinking.
As I think back over the 13 years I’ve been in the business, thousands of customers later, I realize that having a long term strategic focus continues to be critical to success. Meaning overdeliver value for your customers (and jv partners), so that they trust you, because you’ve given authentic value at reasonable pricing, which builds customer loyalty. Teaching traders things that actually work, vs always just looking at conversion and click stats. Being a trading resource of value, vs a marketer first, trader second. Traders can tell the difference.
When I look at trading industry competitors who have folded, or been rendered irrelevant due to overpriced/shenanigans, it reminds me to focus on the basics of long term business building, which is all about overdelivering quality top content at reasonable pricing, to build trust, loyalty, and “doing things right” vs the high price product launch quick hustle that competitors use, which is dependent on new lead acquisition since it burns out/loses customer loyalty.
Good post, I like your point about looking for trusted sources for insights.
Appreciate your feedback and insider views! I think time in the trenches is the key. Those of us (you much longer then me) who’ve been through a lot and have seen a LOT really should help others avoid the same potholes. Learning from others is a sure sign of long term success.
Thanks for the comment! Feel free to share with your affiliate group/warrior friends!
Very wise words. The temptations are great to grab for the fast cash, but the lasting rewards come from following the bigger picture. Appreciate how generously you share your experiences and observations.
Thanks Pat! Honestly it’s just the right thing to do as an industry you know?