Factors to Consider When Purchasing Marketing Education Products

This may very well be the most unpopular, unlinked to, read, and uncommented post in the history of the Internet… well, maybe not the entire Internet, but perhaps on this site.  Most buying decisions are emotionally, and this post will deflate the emotion from your decision noticeably, but stick with me. It may contain some things that you don’t want to hear, and may rub you the wrong way. Especially if you find yourself in an emotional state during the latest Internet marketing guru’s product launch. However, it also has the potential to save your behind and your business.  Give it a chance, and your honest feedback in the end, and we’ll call it even.

Factors to Consider When Purchasing Marketing Education Products

For many, choosing to buy is often easier than exercising restraint.  At the time of this writing Jeff Walker is about to release the latest version of his product launch formula.  Courses like Jeff’s have a lot to them, and require an investment of $2000 or more (learn more about Jeff Walker’s stuff here and here).  While they often have a lot of value, this is not your $7 eBook, and most need to count the cost before taking the plunge.

Can I Afford It?

Making decisions out of desperation is never a powerful place to be.  If you believe purchasing a given product is your last option for success, you probably cannot afford it, and therefore probably shouldn’t buy.

I’m not here to give financial advice, I have made significant investments, some have gone well, and others weren’t worth it for me.  Learn from my experience, if the product you are considering purchasing will require you to go into debt, you need to think long and hard about it.

In some rare cases it does make sense to incur a little debt if there are grounds for recovering the investment quickly, and the purchase won’t create a hardship.

Is It the Next Logical Step

A simple question. Does this fit with what the goals, phase, and timing of your online business?
An Example:
If you are a beginner, exploring all that is Internet marketing, and haven’t made your first dollar, your investment in a fairly low cost eBook or blueprint on building an online business that lasts by better understanding your gifts and strengths may very well be a good investment if a long-term business is something you are aspiring toward.

However, that same person having no website, domains, merchant accounts, or email service providers would not be such a good match with products that teach:

• How to get more traffic
• Website conversion
• Website analytics
• How to blog for a living
• Copy writing

Ask yourself will this product help move my business into the next phase?  If you answer yes, then read on, because this next point is telling.

Will It Give Me a Competitive Advantage?

The business world is in a constant state of change and doing so faster than ever.  Paying for information that is timely and proven could be extremely valuable to your business and give you a leg up on your competition.

There are two categories of advantage to consider:
Productivity: Will it help you to serve your customers faster and with less effort?
Information: Will it give you timely and reliable information faster, with less effort, so you can make decisions which would allow you to serve your market better?

Note: time often levels the playing field.  What offers a competitive advantage today may be the new norm in 3 to 6 months.  If you are consistently out in front in your market as a result of good information or productivity advantages (tech), you know what I’m talking about.

How Quickly Can I Implement Some of What is Taught?

I learned from Mike Filsaime a while back a 30 Days to Profit approach.  That is, if you cannot implement a product, methodology, or strategy within 30 days and profit from it, you won’t make headway in your business. Building on that further, I like extending that to continuing education investments.

Question: Do you have reason to believe you can profitably implement what is offered in the product or course in 30 days or less, so that you are immediately getting return on your investment? It’s important to be realistic here.

Consider previous purchases:

• Did you leverage the product as you’d hoped, or did it sit on the shelf of unexecuted plans?
• Did you consume the information or services the product offered?
• Did you get a quantifiable return on your investment? Are you still using it?

As in sales, when buying, timing is everything. This may be the next logical step, but be the wrong time to take that step.  You may be in the midst of other unfinished projects, or planning to travel or something else that would keep you from implementing in the first 30 days.

On the flip side, you may have someone in your company to hand the product to and make them in charge of implementing it, or it just may be perfect timing for you to do it.  The point: think in advance of your purchase how quickly you can get a return on your investment.

If It Doesn’t Work Out – What Are My Options

As the commercial says, life comes at you fast.  Should something change and you cannot continue with the product or it is no longer a fit for your business, you should know what your options are.  Any product worth your time will have a return policy, and will display it prominently. They should also include instructions should you need to send it back.

Bottom-line

The guys selling marketing information products online are good.  Taking a few steps back to determine if a product is right for you is important, and something you owe yourself.  If you can afford it, buying is easy, but is much more valuable when it falls in line with the progression of your business, will offer you or your business a competitive advantage, and you can implement it (or a portion) within a reasonable timeframe (30 days).  If you honestly consider these factors before deciding to buy, you’ll be in a much better position to succeed regardless of your decision.

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Image Credits: DeathByBokeh, Roger McLassus, John Nickolls, TeamTraveller, ryantron