In a previous post about How To Succeed In Internet Marketing I suggested that rather than reading about how to market online, you just try to market something, and learn from the results.
Practice is truly the only way to build the skills you’ll need to survive long-term in online marketing. But, for many people, trying something and failing seems like, well, failure. Even though that’s the only way to learn what doesn’t work, a lot of people don’t see the benefit in not succeeding. And they may not be able to waste a lot of money in efforts that don’t succeed (although, they typically manage to waste a lot of money in programs that promise success, but never deliver).
So, as part of my ongoing efforts to help as many people as possible learn the Internet Marketing skills they’ll need to succeed, I’ve started advertising exercises over at The Advisory Panel. The basic idea is that I pick a product, and members brainstorm unique angles for targeting that product, and websites for advertising those angles.
I then pay for all the advertising, and split half of any profits with the people who made the suggestions, and the people who referred them to The Advisory Panel. The other half of the profits go back into a pool for the next advertising exercise.
I’m pretty excited about this. It gives people who cannot afford paid advertising to test out ideas. Totally unreasonable ideas won’t get funded, but we’ll talk about why they probably wouldn’t work. Reasonable ideas get funded, and if they don’t show a profit we’ll analyze why not.
If you’re interested in gaining some real Internet Marketing experience with my money, come on over to The Advisory Panel and join in.