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Topic: Facebook Viral Marketing
Message: Posted by: genius (Nov 8, 2014 12:46PM)
I have a product (test-prep course) that I'd like to sell. The target market is college students. I'd like for them to sample my product for free and then post a "like" or a review on my Facebook Fan Page, depending on how my product helped them. I'd like for this to go viral, to help sales. Anybody good at this kind of stuff? I'm looking for a facebook viral marketing guru for (potentially hired) help, anybody out there for some advice?

Mindblowingly,
Charles
Message: Posted by: LobowolfXXX (Nov 8, 2014 12:54PM)
What test(s)?
Message: Posted by: mastermindreader (Nov 8, 2014 02:02PM)
Lobo-

I'm thinking of putting out an LSAT course that consists of just one lesson that only takes a few seconds to learn. (When in doubt, always select "C.")

Do you think there's a market for this? :eek:
Message: Posted by: HudsonView (Nov 8, 2014 05:03PM)
FAcebook has a pretty good targeting system. You set the budget you want to pay and you only pay on a click. It is very easy to set up. You can't purposely create a viral campaign. The viralness is not in your control.
Message: Posted by: LobowolfXXX (Nov 8, 2014 05:11PM)
[quote]On Nov 8, 2014, mastermindreader wrote:
Lobo-

I'm thinking of putting out an LSAT course that consists of just one lesson that only takes a few seconds to learn. (When in doubt, always select "C.")

Do you think there's a market for this? :eek: [/quote]

There must be; I'm doing pretty well just telling them to pick "B."!
Message: Posted by: mastermindreader (Nov 8, 2014 06:33PM)
Oh, no. I better get in sync with you so as not to screw up the scoring.

When I took the Bar Exam prep course, we were told that if we were ever in doubt as to the right multiple choice answer, to always pick "C," because if enough people chose "C" (or any other agreed upon choice), it would be accepted as a correct answer. Don't know if that is true anymore or if the same scoring applies on the LSAT.

I didn't study for the LSAT at all because I just took it on a lark. My friend and I from college had also served in the military together and still had education benefits left on the GI Bill. Since there were no jobs available for English Lit majors, we figured law school might be a fun way to stay out of work for three more years.

The funny part was that we were the only English majors from my college graduating class who took the LSAT. The others were all political science and history majors. I guess English was the right major, though, because we outscored all of them. (And we were both pretty hung over the day of the test.)
Message: Posted by: genius (Nov 9, 2014 09:56AM)
It's for several tests...LSAT, MCAT, GRE, and GMAT.

Mindblowingly,
Charles



[quote]On Nov 8, 2014, LobowolfXXX wrote:
What test(s)? [/quote]
Message: Posted by: genius (Nov 9, 2014 09:59AM)
Thanks, HudsonView. But I don't want to pay for advertising through the traditional approach. I have heard that the best form of marketing is genuine word of mouth, so I'd much rather have people take a practice test after my review course (which I would offer for free to a limited batch of students) and then have those students say good things on facebook either through "likes" or through comments about how the course helped them...let's say 1,000 students post positive comments, wouldn't that be if much better than say a few people who click on my link because I paid for advertising?

Mindblowingly,
Charles


[quote]On Nov 8, 2014, HudsonView wrote:
FAcebook has a pretty good targeting system. You set the budget you want to pay and you only pay on a click. It is very easy to set up. You can't purposely create a viral campaign. The viralness is not in your control. [/quote]
Message: Posted by: HudsonView (Nov 9, 2014 10:48AM)
Word of Mouth advertising is fine. But first, people have to know you exist. You have to expose people to your offer so they can even take the test. Word of mouth goes hand in hand with an awareness campaign. What is your plan now for bringing awareness to your service? How are you getting people to take the test now?
Message: Posted by: HudsonView (Nov 9, 2014 11:04AM)
Inernet marketing is a combination of different factors, all of which should work together. They include: SEM and SEO, Social Media Marketing, Content marketing and Email marketing. The stages are usually as follows;

1. Develop a web presence, either a website, blog, or other place you can drive traffic to.
2. Develop content in order to attract visitors: posting daily tips and tricks on passing and preparing for tests.
3. Promote that content through the standard Social Media sites; Facebook, Twitter, Google+, Linkedin, etc.
4. Begin to build and maintain a mailing list where you can develop a series of campaigns to build sales.
5. Learn basic SEO skills in order to improve your search rankings.

Each of these stages has it's techniques and skills. But all are needed to make sales, especially in an overly saturated market like test preparation products.
Message: Posted by: HudsonView (Nov 9, 2014 11:08AM)
Oh, and one other thing: if a freelancer tells you they can build you a "viral" campaign, run the other way. There is no such thing and if there were, everyone would be doing them. You can do things to increase the likelihood of it going viral (comedy is the big draw there. If people think something is funny, they will have a tendency to pass it on). But creating a viral campaign is like creating a best selling book, or box office gold. If there was a formula that worked, everyone would do it.
Message: Posted by: LobowolfXXX (Nov 9, 2014 11:15AM)
[quote]On Nov 9, 2014, genius wrote:
It's for several tests...LSAT, MCAT, GRE, and GMAT.

Mindblowingly,
Charles



[quote]On Nov 8, 2014, LobowolfXXX wrote:
What test(s)? [/quote] [/quote]


Right on. Just curious; I'm in the graduate test prep business.
Message: Posted by: LobowolfXXX (Nov 9, 2014 11:20AM)
[quote]On Nov 9, 2014, genius wrote:
Thanks, HudsonView. But I don't want to pay for advertising through the traditional approach. I have heard that the best form of marketing is genuine word of mouth, so I'd much rather have people take a practice test after my review course (which I would offer for free to a limited batch of students) and then have those students say good things on facebook either through "likes" or through comments about how the course helped them...let's say 1,000 students post positive comments, wouldn't that be if much better than say a few people who click on my link because I paid for advertising?

Mindblowingly,
Charles


[quote]On Nov 8, 2014, HudsonView wrote:
FAcebook has a pretty good targeting system. You set the budget you want to pay and you only pay on a click. It is very easy to set up. You can't purposely create a viral campaign. The viralness is not in your control. [/quote] [/quote]

HudsonView is the forum authority on the topic; you can learn a lot from him.
Message: Posted by: mastermindreader (Nov 9, 2014 01:06PM)
I'm looking to start a course on how to pass drug tests. I'm thing of asking Kevin Trudeau to do an infomercial for me.
Message: Posted by: imgic (Nov 9, 2014 06:05PM)
[quote]On Nov 9, 2014, mastermindreader wrote:
I'm looking to start a course on how to pass drug tests. I'm thing of asking Kevin Trudeau to do an infomercial for me. [/quote]


You can always use the Whizzinator..

http://www.thewhizzinator.com/
Message: Posted by: genius (Nov 9, 2014 06:26PM)
Thanks so much for the help, HudsonView.

I have a question. What do you think about the approach whereby I conduct 1,000 exams over the phone / online, and then have these students talk about their performance on the exam on facebook? The way that I would get these students to take the exams is through sign-ups at their college campus. Yes, in other words, I would go to the campus, pay for a stall or booth, and have students that walk by sign-up for a practice exam.

If the students did well, and they posted positive reviews and genuine testimonials, would you say this is a good approach?

Mindblowingly,
Charles
Message: Posted by: genius (Nov 9, 2014 06:36PM)
And another question for all: What is the biggest challenge you may see with my approach? Thanks all.

Mindblowingly,
Charles
Message: Posted by: genius (Nov 9, 2014 06:39PM)
Kevin created something called "Mega Memory" back in the 80s for students. It was in direct competition with a product from Harry Loryane. I think Kevin is in jail now?

Mindblowingly,
Charles

[quote]On Nov 9, 2014, mastermindreader wrote:
I'm looking to start a course on how to pass drug tests. I'm thing of asking Kevin Trudeau to do an infomercial for me. [/quote]
Message: Posted by: LobowolfXXX (Nov 9, 2014 07:24PM)
[quote]On Nov 9, 2014, genius wrote:
And another question for all: What is the biggest challenge you may see with my approach? Thanks all.

Mindblowingly,
Charles [/quote]

Why would they pay you when they could just take practice tests and talk amongst themselves on their own?
Message: Posted by: genius (Nov 9, 2014 07:26PM)
The people who take the practice test can talk amongst themselves, but if they are to be able to electronically access all of the test prep resources, then they would need to pay. Does that make sense? Let me know if I misunderstood your question. Thanks again!

Mindblowingly,
Charles

uote]On Nov 9, 2014, LobowolfXXX wrote:
[quote]On Nov 9, 2014, genius wrote:
And another question for all: What is the biggest challenge you may see with my approach? Thanks all.

Mindblowingly,
Charles [/quote]

Why would they pay you when they could just take practice tests and talk amongst themselves on their own? [/quote]
Message: Posted by: LobowolfXXX (Nov 9, 2014 07:28PM)
Oh ok. I think it was I who was misunderstanding the system. So then the question is, what sorts of resources would you be providing, and how much would you charge?
Message: Posted by: genius (Nov 9, 2014 07:41PM)
Well, the resources would consist of a test-bank, connectivity tools to collaborate with students / professors at the top graduate programs in terms of test preparation, the ability to take more practice (timed) tests, proprietary analysis of weakness / strength areas to focus the studying, and also study strategies that are developed for specific sections for specfic tests. The pricing is consistent with what students would pay for Kaplan Test Prep, for example.

The thing is, I can't compete with Kaplan Test Prep UNLESS I show RESULTS. By working with a small sample of students who thoroughly enjoy their experience and see the impact it has on their SCORES, then and only then can a positive momentum be established...in my opinion.

Hope this helps!

Mindblowingly,
Charles


[quote]On Nov 9, 2014, LobowolfXXX wrote:
Oh ok. I think it was I who was misunderstanding the system. So then the question is, what sorts of resources would you be providing, and how much would you charge? [/quote]
Message: Posted by: genius (Nov 9, 2014 07:43PM)
Thinking through this some more, I just realized ONE MAJOR WEAKNESS of my approach---if I were to conduct let's say 1,000 practice tests, it will take at least 1,000 hours of my time, and that equals 25 weeks of work, assuming 40 hours a week. Yikes...I almost need to give up my full-time income to support this side-business!

I need to think AUTOMATION---but how???

Mindblowingly,
Charles
Message: Posted by: LobowolfXXX (Nov 9, 2014 07:48PM)
Also, you'll have to pay licensing fees to provide students with actual past exams.

The other problem is name recognition. You're charging what Kaplan charges, but they (and Testmaster, Blueprint, etc.) already have a lot of market share.
Message: Posted by: genius (Nov 9, 2014 08:02PM)
How much do the licensing fees cost? I'm less worried about the financing piece, as I am about the publicity piece. You are right---name recongition is key. How do I get my name out?

Okay, let me throw out a hypothetical. If I worked individually with let's say 10 students (I think I can do this), and I walk them through my service and offer it FOR FREE, and then I have them take a practice test, and let's say they score in the 90th percentile or higher (when they otherwise would have scored just average...and let's say that they themseleves are just average students and they also previously did not anticipate scoring so high)...and then, let's assume these 10 students post on the facebook, telling their friends that this is the most amazing thing ever and that they recommend it highly, do you think this would then potentially take off?

Mindblowingly,
Charles
Message: Posted by: LobowolfXXX (Nov 9, 2014 08:16PM)
I'm only familiar with LSAT licensing fees. It's somewhere around 3-9 cents per question per person, depending on how recent the question is. LSAT exams are 100 or 101 questions each. If you use older questions in your instructional materials, you'll save money on licensing, but you still need to use a lot of questions if you're going to thoroughly cover the various question types. I brought in a 160-page study guide for under $3 per copy, but it was a challenge.
Message: Posted by: HudsonView (Nov 10, 2014 06:59AM)
".and then, let's assume these 10 students post on the facebook, telling their friends that this is the most amazing thing ever and that they recommend it highly, do you think this would then potentially take off? "

No. Very unlikely. People have to be able to see the testimonials and see your offer AT THE MOMENT they are thinking of test prepartion needs. When people are interested in test preparation products, they do what everyone else does: they go search for it on Google. Unless you are showing up in the first 2 or 3 results, no one is going to see the testimonials.

What sort of research have you done in this market? I'm assuming, not much, based on the questions you have asked.

I just did a search. There are hundreds of companies providing this service. How do you differentiate yourself? What are you providing that Kaplan, Collegebard.org, testpreview.com, testtakingtips.com, don't have (these are just some of the results that came up when I did a search)

There is no short cut to marketing. It IS a full time job, and if 1,000 hours scares you, entrepreneurship maybe just isn't in the cards for you.

Here is a random test prep page I found on facebook: https://www.facebook.com/TestPrepReview . Start looking at all the facebook pages and websites already devoted to this subject by people who do this full time. This is a highly competitive field.
Message: Posted by: HudsonView (Nov 10, 2014 10:27AM)
Just because I love this kind of stuff (and it is what I've done for a living for the last 20 years), let me give you a quick guide to bringing products to market:

1. First stage of developing and bringing a product market is to ask yourself the following question: Do I possess the skills neccesary to achieve this goal? I've spent a lot of time on reddit helping people with this very question and it is amazing how many people start spending money developing products where they lack a basic necessary skill (my favorite, the guy who wants to develop a cool app, but has absolutely no programming or development skills).

2. Market research: who are your competitors? Just to give you a hint how crowded the test prep market is, you aren't even the only one doing it on this board, as Lobo has mentioned. He has a book doing this very thing. Research all the websites, facebook pages etc you can and start a spreadsheet on each competitor. What is their price point? where do they advertise? What do their testimonials look like. You can see here on Kaplan's site, they have an impressive list of testimonials already: http://www.kaptest.com/

3. Take a look at your market and determine if it has legs: is your product a recurring income product? (no). The problem with test prep is that you cannot upsell or sell multiple times to the same client. People are only interested in test prep products maybe once or twice in their lives. That means your marketing needs to be focused on Lead Generation. How much are you willing to pay for a lead? Much of this industry is driven by the affiliate marketplacde. You need to provide an incentive for top affiliates to take up your offer.

4. Marketing is a stats business: everything you do has a percentage behind it. Look at your sales funnel: it starts by generating awareness: how many people need to see your product before they take action? That is your first conversion stat. Of the people who take action, how many convert to customers? Typically, products like this have less than a half a percentage point in conversion rates. That means you need to expose your offer to over 200 people to make one sale. (you'll need to generate your own stats based on your experience. Don't be surprised if you find your conversion rate is way under half a percent.

5. You gain awareness through some of the techniques I listed above: advertising, word of mouth, content marketing, etc.

But the main thing you need to be aware of is that, for test prep products, 99% of your time will be spent generating leads.
Message: Posted by: LobowolfXXX (Nov 10, 2014 10:36AM)
[quote]On Nov 10, 2014, HudsonView wrote:
Just because I love this kind of stuff (and it is what I've done for a living for the last 20 years), let me give you a quick guide to bringing products to market:

1. First stage of developing and bringing a product market is to ask yourself the following question: Do I possess the skills neccesary to achieve this goal? I've spent a lot of time on reddit helping people with this very question and it is amazing how many people start spending money developing products where they lack a basic necessary skill (my favorite, the guy who wants to develop a cool app, but has absolutely no programming or development skills).

2. Market research: who are your competitors? Just to give you a hint how crowded the test prep market is, you aren't even the only one doing it on this board, as Lobo has mentioned. He has a book doing this very thing. Research all the websites, facebook pages etc you can and start a spreadsheet on each competitor. What is their price point? where do they advertise? What do their testimonials look like. You can see here on Kaplan's site, they have an impressive list of testimonials already: http://www.kaptest.com/

3. Take a look at your market and determine if it has legs: is your product a recurring income product? (no). The problem with test prep is that you cannot upsell or sell multiple times to the same client. People are only interested in test prep products maybe once or twice in their lives. That means your marketing needs to be focused on Lead Generation. How much are you willing to pay for a lead? Much of this industry is driven by the affiliate marketplacde. You need to provide an incentive for top affiliates to take up your offer.

4. Marketing is a stats business: everything you do has a percentage behind it. Look at your sales funnel: it starts by generating awareness: how many people need to see your product before they take action? That is your first conversion stat. Of the people who take action, how many convert to customers? Typically, products like this have less than a half a percentage point in conversion rates. That means you need to expose your offer to over 200 people to make one sale. (you'll need to generate your own stats based on your experience. Don't be surprised if you find your conversion rate is way under half a percent.

5. You gain awareness through some of the techniques I listed above: advertising, word of mouth, content marketing, etc.

But the main thing you need to be aware of is that, for test prep products, 99% of your time will be spent generating leads. [/quote]

#3, above, is particularly important, if you haven't considered it yet. They're all important from a marketing perspective, but #3 is particularly important from a content perspective. This industry is the inverse of the vast majority of industries. Here, the better your product is, the less likely it is that any of your customers will want to use it again.
Message: Posted by: genius (Nov 11, 2014 05:52PM)
Thanks so much for the feedback, guys!

Mindblowingly,
Charles