Most of the so called experts in marketing operate on the “Greater Fool” theory.
Learn enough to to sound impressive to a total newbie aka fool. Give them some generic advice that used to work. It works very well because most clients never implement. So these experts can do it for years without getting caught.
I’ve been asked to be on a local only real radio station and pay $1500 for the priviledge. I said hell no because I know it wasn’t worth it. But he was working on the greater fools theory. “But, I’ll have a professional videographer take video while you’re on the show, I’ll post it up on the website, I’ll podcast it, you’ll get a lot of exposure and a lot of business.” Not $1500 worth. Even Jack Canfield doesn’t push $1500 of his products when he on a radio show.
This person was a little shocked when I explained this. Totally blew his business model out of the water.
I see this with Social Media Experts. They think they are marketing geniuses. Reminds me of Real Estate Investors who were making money hand over fist and thought they were geniuses and then the market changed and they found out they were idiots that were just lucky. They got the timing right but they can’t repeat it.
Good marketers are like good investors. They don’t know whether the market is going to go up or go down. They just know it’s going to change. And they have a system and test. Test a lot.
They are not marketing geniuses, only marketing testers. It’s a numbers game.
I’ve gotten a lot of advice from mastermind members and coaches that I should just focus on newbies and give them easily digestable information. And that’s great advice that I believe and having been doing. But, I also want to give the truth. I don’t want to be part of the greater fool formula. I want to empower my clients to reach great heights which is why I only focus on a handful of them personally. I write these posts to help everyone. To help people not get screwed. To tell it like it is (from my viewpoint).
I know many marketing experts are not big fans of mine. They don’t anyone to upset the apple cart. And I’m not hear to call them out. I’m not going to “name names”. I only want to educate and work with some cool clients.
Don’t be part of the greater fool formula. Educate yourself, get a coach and question marketing expenses. Know your conversion numbers before going off and spending $5,000 for someone with a big list to send your email out. If you don’t know your conversion numbers then you’re just gambling. Gambling may be fun in Vegas but in business it will lead you to go out of business…quickly.