A while back, I discussed a business model with regards to Reputation Management. I did not fully release it and ended up taking it down. So now that it has been completed, I thought I’d share it with you. You can treat this completely as a stand-alone business. You can live happily on this business model alone, but it will require you to work.
What we will be doing is, offering offline businesses an online service. Remember, then number 1 problem with people attempting to start Internet Marketing is not with “what” they want to do, but “how” they’re going to do it. The purpose of this book is to answer the “how”, so let’s get to it.
I have personally attempted this method and these are my results. I chose to do this via Snail Mail (regular post, not email). It took me a total of 4 hours to execute. It cost me $38.94 and in return I put $17,000 in my pocket (profit). I was offered a full time job in the process (which I refused, simply because they won’t pay $17,000 for 4 hours work). Remember, I do not follow through on most of my experiments. I have a full time job, but I love experimenting, and making money while experimenting is just the entrepreneurial icing on my cake.
During this campaign, I contacted a total of 22 business owners. 5 of them called me directly. I met 3 of them and closed all 3. For those don’t understand the term “closed”, it means I managed to convince them to sign a contract and do business with me.
Ok, let me give you a quick back story. A friend of mine was talking to me about his restaurant and how he would be getting negative reviews on his Google Places page and his Trip Advisor page, but at the same time, he would be getting compliments verbally. He blurted out a term which I knew I had to study. “Reputation Management”.
I allocated a month of my life to educate myself about the ins and outs of Reputation Management. I knew if I want to pursue this experiment and succeed, I’d have to know everything about this. I had to know the figures involved and how I was going to use it to my benefit.
So, now I’m equipped with the knowledge and weapons to pitch my idea. So, I pitched a few existing clients and they ate it up like a fat kid loves cake. I decided that this could easily be put up as a stand-alone service under my existing company.
Wait wait, you’re probably wondering what Reputation Management is, right? Well, I’ll make it nice and simple. It is managing someone’s reputation. You see what I did there? I switched the words around. Honestly, I don’t know how to make it any more simple. You are literally going to manage a client’s online reputation. What people are saying about your client.
To get started, I knew I that I’d need to use snail mail for this campaign because I would be putting in the hard work before starting, so I had to ensure that my efforts would at least result in my potential client reading a physical letter. Emails are just way too easy to delete without reading. My second reason being that I could personalize every aspect of my initial contact.
For the sake of this chapter, let us call this Online Reputation Management (ORM). It’s a fancy term for a relatively easy job. The way you sell this service is equally as easy. You tell your potential clients “this is costing you money” and they buckle. Their ears open up and eyes are wide open (long enough for you to pitch your solution).
Because of this, ORM allows you to go nuts with your pricing. You are solving their problems after all, and you deserve to get paid for that. Some much bigger ORM companies will charge a small fortune for this service. Why not you? Obviously you will start this off as a one-man-show, but if you wish to expand your operations, you are looking at a million dollar business here.
This is just the tip of the iceberg. Want to learn how to make $17,000 for 4 hours of work? How to create your own million dollar Reputation Management business? How to position your business to later include tech apps in your offers to clients? Chapter 13 “Reputation Management” contains 9 simple pages of detailed how-to on all this and more. Get the book now!