Yeoh Siew Hoon is feeling generous this week. She’s decided to share the secrets she picked up at the Internet Summit she sneaked into.
Due to the overwhelming interest in my column last week on “Want to make wads of money? Yeah!”, I feel compelled to share with my fellow Transiters the few secrets I picked up.
Tell everyone you read it here first, ok? And remember me when you make your first million.
So here are the seven unbreakable rules for success on the new digital battlefield, according to Internet marketing millionaire, Mark Joyner, who spoke at the World Internet Mega Summit.
1. The only protection for your ideas is speed
It is not just who is first but who is seen to be first. You’ve got to move fast.
2. Be buzzworthy
Ideas are now moving at the speed of electrons. Stories and ideas that are genuinely buzzworthy are more sustainable than short-term tactics. They take a life of their own. But buzzworthy does not mean fads – like, for example, a photo of Bush and Madonna in bed together may create buzz but will not sell widgets. So …
3. The way to be buzzworthy for your business is through excellence.
If you are consistently excellent, then people will talk about you. Genuine word of mouth stimulated by excellence is the most powerful marketing there is.
4. There is but one thing to excel in and that is getting the customer what he wants.
The core imperative of business is, you make an offer and someone buys. This for that. Quid pro quo. Nothing more, nothing less. Money is just the symbolic representation of goods and services. To get them to part with money, get them what they want.
5. The beginning of buzz doesn’t just happen – you make it happen.
Buzz needs some sort of initial push – you need to get your ideas in front of people till you reach tipping point. But beware of over-hyped marketing, it makes people gun shy.
6. Integration marketing is the world’s most powerful make-it-happen force
Joyner cites the example of the world’s richest man and how he used his partnership with IBM to grow his business – the “moment that launched the world’s greatest amassing of personal wealth”.
In 1981, IBM approached Microsoft to develop an operating system, a partnership that meant Microsoft got money for every machine that IBM sold. Gates went on to license the operating system and later own it.
“It was nothing to do with deal-making but riding on the back of an existing infrastructure and getting in front of eyeballs already interested. This is nothing short of the Holy Grail of marketing.”
7. Only people, products and companies that practice unifying social dynamics will survive.
This, he says, will ensure our survival not just as business people but as a species.
Incidentally, Joyner may be an expert on making money while he sleeps but even he was defeated by the Singaporean chilli crab.
On his blog he wrote about his experience. “10 minutes after it came out, I was elbow deep in chili sauce trying pathetically to pull the crab meat out of this monstrosity. My wife was wiping my face ... Rolling up my sleeves ... I can do a lotta things. Handle a crab gracefully with my bare hands ain't one of 'em.”