Why Money Doesn’t Sell
I have a little rant coming on. It’s a pet peeve, really…
Every day I get 1, 2, or even 3 “opportunities” to promote strangers.
The worst come on like they’re doing me a favor. They tell me what a great opportunity they’re offering me by asking me to vouch for people and products I don’t know or use, and in exchange I’ll get some percentage of their sales.
Blech.
Maybe they’re inexperienced, or in such a state of lack, that they think that the lure of cash is enough. It’s not.
Financial compensation is the LAST thing I look at when choosing to promote someone.
Honestly, I will always make more money selling my own stuff. And I have more control over client and customer experience: I know my stuff.
What motivates me to promote a person or program?
1) Love. If I’ve worked with this person–hired them, coached them, bought their stuff, or we’re good friends and I think the world of them–I’m going to want to yell their virtues from he mountaintops. Bottom line is I just love this person.
2) A joint project. If we’re doing something together that I believe in, like a virtual summit, or a live event, or a program or a product, of course I’m going to let people know.
3) They did something wonderful for me. This goes back to the love thing. Every now and then someone does something nice for me, with no expectation of reciprocation.
4) Does this make business sense? If I’m promoting someone, there’s a cost to me. Time. Effort. People unsubscribing from my list (25 to 70 with every mailing). Liability. And I’m taking attention away from my own profit-making projects. So it has to be safe, be something my people will love, and there must be a net benefit to justify–personal, professional–to justify the expense.
I feel like this whole affiliate come-on-by-strangers is part of the same scarcity mentality that has people race to offer the cheapest price for their services. These are people who are completely missing that their market is looking for VALUE first, dollars second.
A good price, and a good commission, are wonderful things… if it’s something you already want.
And no price is good enough for crap.
Put value first. Put love first. Only then does a money conversation makes sense.
MORGANA RAE is an international #1 best selling author, an acclaimed life coach, and pioneer in personal development, who is regarded as the world’s leading Relationship with Money coach. Morgana’s groundbreaking program for attracting wealth has featured her on ABC-TV, PBS, CNN, NPR, United Press International and The Wall Street Journal online.
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MORGANA RAE is an internationally acclaimed life coach, author, and professional speaker, who is regarded as the world’s top Relationship with Money coach. Morgana’s groundbreaking program for attracting wealth has featured her on ABC-TV, PBS, NPR, United Press International and The Wall Street Journal online. Learn how to become a Money Magnet with her FREE 4-part video gift series. Fill out your name and email at the top of the page. (We promise not to share your info!) Leave a Reply
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An actual email I got (to which I gave no response) from someone I’d never even heard of (and hope not to in the future).
*
Aug. 30, 2012
Hello Ted Hargrave,
THEY MIS-SPELLED MY NAME. AND USED MY FULL NAME. INSULTING AND OVERLY FORMAL ALL AT ONCE.
My name is _________; I’m a high school principal with an
area of expertise that I believe many on your list of contacts
would welcome hearing about: Emotional Intelligence (EQ).
SHE CLEARLY HAS NO IDEA WHO MY PEOPLE ARE.
I’ve created a School for Emotional Intelligence with a
6 week program entitled Enhance Your EQ to Become A
Better You. It’s a telecourse so people living anywhere can
access it. I deliver it live weekly, repeat it regularly, and I
provide e-mail support and enrichment after every lesson.
HOW DOES THIS HELP CONSCIOUS ENTREPRENEURS GET MORE OF THE CLIENTS THEY LOVE?
My program sells for $197 and the affiliate commission for each
referral is $100. Would you like to partner with me as an affiliate
in a joint venture by informing your contacts my course exists?
If so, I’d be honored to work with you.
SOMEHOW THIS WHOLE EMAIL DOESN’T FEEL HONOURING TO ME.
Naturally, before you’ll consider promoting my program, you’ll
want to know these 3 things:
1 – That having high Emotional Intelligence is a great asset which
will interest a significant percentage of those whom you contact.
(Many people already realize that Emotional Intelligence is
strongly correlated with performance and productivity – at work,
at home, and at school – so they will understand its value either
for themselves, or their children, or both.)
2 – That I have the knowledge and skill to teach my program at a
high level. (My websites include my qualifications and testimonials.)
3 – That you’ll be assured of receiving your commissions. You can
collect the tuitions yourself if you prefer, and send me my share
when the course is over. Or I can do that using a company with
affiliate tracking software to identify all your referrals and credit them
to you (they’d register via your affiliate link).
If you wish, I’d be happy to help you promote my program to your
contacts. How?
1 – I could conduct a free preview teleseminar so they could easily
judge for themselves if my program is a good fit for them or their
children. If they then want to register for it, they would, of course
use your unique affiliate link to ensure you are properly credited.
2 – I can provide a sales e-mail for you to copy, and then forward
to your contacts. (Modify it any way you wish.)
You can view the details of my program – and its benefits – on either
of my websites. One is for adults who desire to enhance their own
Emotional Intelligence; the other is for their teenage children.
Thank you for whatever consideration you grant this proposal. If
you are interested, please contact me. And if you have no interest,
I’d really appreciate an e-mail just to say, “No thanks,” so I’ll know
not to bother you with any follow-up to this.
I can’t offer a cross promotion of what you offer (I’m on your list)
since I lack any list of my own. That’s why I’m reaching out to
you as a potential affiliate. I believe we can both benefit.
Sincerely,
_____________
P.S. If you promote my program, it will prove to be a win-win-win:
1 – Those completing the course – teens or adults – will enhance
their EQ (and EQ correlates with happiness more than IQ).
2 – You’ll be providing value to your contacts, and you’ll also
receive $100 for all who take the course.
3 – I’ll earn a portion of each tuition, plus the opportunity to share
my expertise with a new audience.
Thanks again for considering this. I look forward to your response
– either way. And should you choose not to become involved, I wish
you every success in what you are already doing.
THIS EMAIL IS SO LONG. IT’S NOT PERSONALIZED (BEYOND MIS-SPELLING MY NAME) AND IS PREDICATED ON ME JUST WANTING TO MAKE MONEY.
Thank you for posting, Ted! 😉
yowza’s Tad that’s intense! I’ve received so many similar emails lately – not a turn on.
Agreed… I think I’d feel the same in your shoes. Can’t wait until I feel the same in your shoes. 🙂
As a small player, just starting out with a list and what-not (I just got it up to 155 or so with a recent online teleseminar), I worry about how to approach possible JVs given all you mentioned, how to do so from a place of service given I don’t have a ton to offer them outside of my vision and my expertise.
Yet I keep on going, keep on being as bold as I can manage. 🙂
Best to you!
Mary
Hi Mary. Thank you for posting.
Wherever you are in your business trajectory, make friends and promote your friends. You don’t need to start with the big fish. In fact, I wouldn’t.
Whenever you approach a partner, big or small, find out what they actually want and care about. Look at how you can help them get what they want. BEFORE you ask for them to do something for you.
Warmly,
Morgana
I’ve noticed we (by we, I mean “I”) have become anxious about money and from that place, promo emails and invitations and conversations feel horrible. That space ruins the connection or possibility of connections. When I’m curious or in a space of possibility, engaged and enthusiastic about my vision and your vision and your message, and it’s exciting, then that love and trust and quality becomes something I can love and trust with the partner.
I totally resonated with this post (but probably from the other side!). I’m with you Mary, also starting with a small list of about 250.
Love is definitely the answer. People can tell when you’re not 100% with them, and when that happens, not even money can lure them.
In this day and age everyone is expecting so much value. It’s like people expect bonuses with everything! Going off on a tangent here…
So the point of the matter, is while I do get asked for JVs, is it something that is really aligned with my vision? Would I really jeopardize the relationships and connections I already have to cater to this company or individual? Probably the most important question… Would this partnership result in the highest good of all?
My MH (Chico) and I send you lots of love Morgana <3
Hi Morgana! thank you for this post. It feels like the majority of the world leads with dollars first which unfortunately is easy to get sucked into. The value you may be there but you’re blindsided with the dollar aspect. I realized with your post when you lead with dollars first you get stuck in that vicious cycle of achieving instead of evolving up.
Thank you for sharing this Morgana! I have had so much resistance to the pressure of having joint ventures and affiliates because so many people go about it in the way you described early in this article. Love first. Yes, please.
Morgana, thanks so much for speaking to this critical differentiator! We can do it for love AND make money- but if one is doing it strictly for the money, it’s just too easy to get swept along with the tide of new shiny distractions to chase.
Great sharing, thank you again!
-Kevin
P.S. a new subscriber… first comment for me- loving your thoughts/heart!
My sister and I were just saying we never want to chase a sale. Sounds like we’re on the right track.
Thanks Morgana. Good post.
Ted, how is posting this person’s letter with commentary about “love”?
How is Emotional Intelligence not related to the people on your list, or you? First, it’s extremely relevant to anyone who has come up through the mainstream educational system and believes they have to have the J.O.B. to be successful and make money. Everyone. She’s on your list after all. And, secondly, I don’t see how her email was all about money. She said the price it sells for and the commission you’d receive; and seemed to be attempting to build credibility by assuring of her intentions. It seemed more like respect and reassurance. She extended trust to you; you could collect it all, or she showed she has the plan in place to do it. It doesn’t seem like an overly long letter. She’s trying. We’re all trying.
I really don’t get why this letter is so offensive to you or why you are so snippy, when we are talking about love and compassion here. Unless gosh, maybe you need to take the course.
Hi Janel. I have to side with Tad on this one. The writer didn’t establish a relationship with Tad (or even check the spelling of his name) before asking him to promote them to his community. They don’t know him or his audience. And they didn’t do any work to find out what he needs or wants, or what his audience needs or wants. That’s not “trying.” That’s just lame. And not very persuasive, ESPECIALLY from an EQ point of view.
Love and Compassion? The writer has shown no respect for Tad or his people. Tad has a responsibility to protect the sacred trust of his subscribers. That’s love and compassion.
This discussion reminds me of some of the stuff I have recently read and seen on videos and materials produced by Jon Morrow, who helps people build popular and well written blogs. He advocates guest blogging. But to get a guest blog, he suggests that first you write excellent comments on the blogs that you regularly read and so build a relationship with the owner of that blog before approaching them.
It also reminds me of the stuff I teach my clients. I help career changers who want to find work in a charity or social enterprise. Most people do conventional applications, which means they are up against 40, 100 or 500 other applicants, some of whom are more directly well qualified than any career changer could be. I tell my clients to build relationships with the people they want to work with, mostly by asking them for a bit of their time to ask questions. This gives them three benefits – 1. when they do apply, even by the conventional route, they are likely to be remembered and liked and may get through to interview, 2. they are more likely to find out about jobs that are not advertised and 3. they have learned something about the organsiation and how they might work well within it, so they can do a great application that really shows how they can help their potential new employer get what they want.
I guess this must apply to lots of other areas too.
Warmly
Devi
Morgana and Tad – YOU both ROCK no matter what anyone says in my eyes and are exemplary role models for demonstrating what it takes to create healthy and trustworthy relationships- and it’s true – it’s always about the LOVE! Or as Bill Baren taught me so well – to establish the KNOW/LIKE/TRUST factor in building, creating and establishing mutual relationship PERIOD.