The 9 Immutable Laws of Information Marketing

I’m updating a free course I did years ago about information marketing. Going through the material, there is one module that needs NO updating whatsoever. These tenets are as true today as they were 10+ years ago. As you put your own info products together, make sure to keep them in mind.

1 - Measurement Eliminates Argument

If you decided to start a weight loss regimen, what would you do first? Naturally, you’d get on the scale. You need a baseline measurement of where you’re starting to see whether or not you make progress going forward. 

The same thing applies to your information marketing business. You need data. Accurate data. Without it, you can’t make good decisions. To list all of the items you should be measuring is a topic for a different article. 

That being said, how you “feel” about something may be important when you visit a therapist, but in business . . . not so much. You say you "like" the ad you created? Great! Who cares? What do your numbers tell you?

If it’s important, measure it!

2 - Done is Better than Perfect

Many writers are familiar with this one. They spend their time (often years) trying to get things JUST RIGHT. The problem? How many people do you know who call themselves writers, who have never finished writing anything? I know a lot of them.

In this business, if you don’t get your valuable knowledge out there, it doesn’t do anyone any good. People will still get a lot of value if it's less than perfect. Get it out there! Give people answers. Help make change possible.

Should you be doing shoddy work? Of course not. But, as the saying goes: "don’t let the perfect be the enemy of the good." You can always improve it in the future.

3 - Make Free as Good as Paid

In order to entice people to check out their work, info marketers create a lot of “free stuff”. The problem is that most of it sucks. No bueno!

The person who gets a hold of your freebies will judge you based on the quality of the first item they see or get from you. You never get a second chance to make a first impression may be a trite and overused expression, but . . . it’s accurate.

Create FREE material that’s as good as anything you charge for. 

Do it the other way and people will ask for refunds and unsubscribe.

4 - Refunds are Inevitable

When I first got started selling information, I vividly remember my first refund. I was pretty traumatized. 

People will ask for their money back for a number of reasons. Some extremely valid, others, not so much. As long as you know (deep down), that you have created something of real value, you can't take refunds personally. Admittedly, this is NOT easy to do.

Numerically, as a very general rule of thumb, if your refund rates are below 5%, RELAX! You can’t please everyone, nor should you worry, about trying to do so.

5 - Expect People to Be Dishonest, You'll Never Be Disappointed

One of the lines that I use in my speeches goes: “Expect people to be dishonest, you’ll never be disappointed.” Unfortunately, this is 100% accurate. Many people just don’t have a moral compass, or at least not one that’s fully functional.

In one of the mastermind groups I belong to a woman told a story about how she discovered someone had stolen her content and was selling it as his own. Her question was: “What do I do to get this guy?” Legitimate question.

But, understanding how people are, why not approach it differently. If you expect that some people will steal from you, then imbed bounceback offers for additional products and services in everything you sell. If used correctly, this strategy can actually make you more than the cost of the theft.

6 - Don’t Believe Anyone’s Numbers But Your Own

For many years I was a member of the National Speakers Association. At the first big event I went to I remember a group of about 6 people chatting as someone walked by. I heard one person say “5X” as the person moved out of earshot. I was just watching on the sidelines, but it happened a few more times with different numbers being blurted out as different people walked by.

After asking the “dumb” question, I was told that they were estimating the percentage by which each individual was inflating their purported yearly income. After that day, it all became clear!

Speakers aren’t the only ones who do this in business. It’s kinda common, regardless of the business. As a new speaker at the time, I was bummed about my own numbers before being let in on the joke . . . if you can call it that.

The lesson? Numbers that people share are seldom accurate. There is a lot of puffery (read: lying) going on by some who try and appear more successful than they are. Your only goal is to meet and exceed your OWN numbers each year. Period.

7 - Don’t Leave Out Steps

The following has happened to you I’m sure.

You spend money for a product to help you learn something. The steps are A through Z. The only problem? The product producer has left out “G” and “T”. Sometimes it’s done unintentionally. Other times it’s calculated to get you to buy their NEXT, bigger and more expensive product.

Don’t do this.

If you do, people will stop buying from you. This strategy used to work a lot better years ago, when people weren’t as sophisticated as buyers. Not anymore. Them days are gone.

Give people a roadmap and include all the steps . . . A through Z.

Not just because it’s the “right” thing to do, but because they will continue to buy from you going forward.

8 - The 10X Product Rule

I’m not sure who I stole this one from, but I remember hearing it when I first got started. Whenever you create any program or product, try to give people 10X more than what they paid for it.

When you’re done creating a product and you come up with a price, ask yourself if people will feel like they got 1000% more value than what they paid for it. If so, you’ve done your job. 

Let’s be honest, it’s not always 10X, but it certainly has to be at least 2X or 3X. If it’s not, then you need to either redo the product or cut the price. If and when that happens, I suggest the first option.

9 - Understand the Value Equation

When your customers consider buying the products you create, they almost always ask themselves this question first: “How long will it take me to make back the sticker price of what you are trying to sell me?” 

For 99 out of 100 customers, as long as they can find a way to afford what you’re selling, they are looking at ROI to make a decision. All of us are happy to spend $1997 for something that will make us an additional $10,000 in the next 12 months.

When pricing your programs or products, remember this: It doesn’t matter if it’s just a 3 page PDF, if you can show me how this “inside” information will make me a boatload more money than what I’m paying for it, then I’ll buy.

Over the last 30 years I’ve done some informal research. I’ve found that if someone can convince themselves that they can recoup their investment in 90 days from when they buy, they’ll pull the trigger. 

Gear your sales message around this data. If you can convince someone they can get their money back in 3 months, you’ll make the sale!

In Conclusion

Follow these 9 laws and you’ll be in good shape. They have served me well in both my own info products business, and with both my customers and partners over the years.