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[How to] Minimize Your Risk of Failing in the First Place

Discussion in 'Media Buying' started by roi300x, Dec 16, 2013.

  1. roi300x

    roi300x Registered Member

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    If you fear losing lots and lots of money getting into media buying, here's
    a hint that can massively reduce your risk of failure:

    'A hungry fish will bite the poorest bait'

    By fully understanding this idea, you can skyrocket your success chances
    of creating a winning campaign before you even upload your first banner.
    A critical point before deciding if you should get into a certain market is to
    estimate how 'hungry' it is. Because the hungrier the market is, the higher
    are your chances that people will act on your offer.

    A simple example:

    If someone has diabetes, or worse, cancer, how passionate do you think
    is this person to hear about possible solutions? EXTREMELY. That's a group
    of people that wouldn't even think a moment before reading through a 36
    pages long sales pitch, if there's only a small possibility that this could help
    them to get rid of their big-ass-problem.

    On the other hand... do you think a guy who's into spending his sundays
    bowling with his buddies would give a damn about a course teaching him
    how to play better? Of course not. He's there to have fun, drink beer, tell
    dirty jokes and enjoy himself. No irrational passion or big-ass-problem in
    this case. Therefore: No good market to get into.

    So, before you pick a market, make sure you ask yourself:

    How high is this markets passion-index? It could save you a lot of time, a
    lot of money and might even help you to hit a money making sweet spot
    more often and much faster in future.
     
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    Last edited: Dec 16, 2013
  2. Tensegrity

    Tensegrity Jr. VIP Jr. VIP Premium Member

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    Passion-index.

    Good stuff right there.
     
  3. HerpDerpSlerp

    HerpDerpSlerp Power Member

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    I believe the best way is to pick a niche you personally enjoy. that way money is just a side effect. It has worked for me for years and years. Even if a niche is crap...crap will add up until you get crapped on with cash.

    Nice post
     
  4. roi300x

    roi300x Registered Member

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    If your passion-index for a certain niche is high already, chances are that there are other people sharing the same passion. Which makes it easier to market to them. Therefore, I can second that.

    Thank you. Nice tits, btw.

    Thank you. I originally got the idea from Gary Halbert, a real marketing legend. If you'd like to have more such ideas, his newsletter (The Gary Halbert Letter) is a very worthwhile read and it's available completely free on the internet these days. (Was $X,XXX a year before that.)