I wonder how many people will fall for this latest offering from “Jim Hunt” / “Micheal White”, (or whatever his pen name is this week) The headline proudly boasts If we make you £128,000, would you split it with us?” Sounds good, especially as they will do all the work for you, and the offer is limited to only 100 people. Oh yes, and it’s FREE to join.
But let’s reverse engineer these facts.
So it’s limited to 100 people, (or is that just a marketing tactic called ‘scarcity’) Assuming it’s true, and they’ve stated above they’re asking it you would share £128,000 … this would mean they have to make almost £13 MILLION in sales to honour that figure to everyone.
Now assuming a £600 retail price for the product, that equates to over 21,000 sales. (Remember, the author is going to be doing all the marketing and promotion on your behalf!) OK, so that’s assuming one product, but even with 10 products, that’s still over 2,000 items of each product that the vendor needs to shift.
OK, so the vendor is a ‘marketing genius’, and has sold things in the past, but does selling this many products at such a high price seem practical? (I dare say some of the other products will be £2,000 a pop live seminars etc which would pay you £1000 commission each time … but the higher the price, the more sales resistance.
Oh, and talking of price … Remember, I said this was “FREE” It is … if you exclude the small ‘token fee’ they need to charge for your training; a mere £3000 To sweeten the deal, they offer a few ‘sweeteners’, such as access to everything they sell to the other muppets – sorry clients. You know, the things that consist of a few DVD’s and written pages that they sell for £600 but costs them maybe £10 to create.
Don’t get me wrong. I plan to utilise this DVD / manual method myself – but maybe not at such high retail prices, so I’ve no qualms with that business model. But what I don’t like is that very few people will analyse the deal in depth, and ‘jump in’ with both feet, and regret it later. (Been there, got the T-shirt)
One final piece of “reverse engineering”. The training is £3,000 as stated. Their marketing says they will accept no more than 99 people. If – and it’s a big IF – that’s true, they have an income of £300,000 without sending out a single product! Nice work if you can get it!
Interestingly, Mr Hunt also runs another promotion called “Pyjama Profits”, (and “Corporate Raider”) He said, “Send me a question, and I will reply within 48hrs”. So I asked what sort of bank would be required by the venture, based on the industry standard of “1pt equals £1000”, and thus the 5pt quoted in sales pitch would need a £5,000 bank. For some obscure reason, a week later, I still don’t have any reply…