Saturday, January 27, 2007

Don't Waste your Time

Don't Waste your Time with OTO Goldmine

Hi everyone! A fellow member of a community I belong to has asked my opinion on something called OTO Goldmine, so I joined the free program and took a look around. 

There are some high profile people shown on the site recommending it (I know several of them.) In fact, there are more testimonials from "successful" marketers than you will normally see on ten sites! 

Gold Bars

The program is free to join, is not really a scam, but falls flat after that. The hype starts right on the first page. It is a very typical, "Ya Gotta Have it - It's the Best Ever" kind of "Sell you in hurry" site, with plenty of "unsolicited" recommendations from fellow marketers (who are probably selling the system), and a lot of emphasis on the FREE part, but if you go through the sign up process, you will find plenty of opportunity to part with your money on "must have" One Time Offers (OTOs). 

Once you get through the whole process, you will find that you can only actually have ONE campaign for yourself, but you have to upgrade (translation - you have to spend $67.00 today or $29.95 per month if you wait another day in order to really use the system.) 

The other thing they REALLY tread the line of honesty on is their skirting of the FACT that the system is basically USELESS to you if you don't have your own website. An OTO (One Time Offer) is something that you use on your website to sell a product or service. You are offering a "once-in-a-lifetime" deal that hopefully will inspire people to make a quick decision to part with their money or email address or both. 

You can use this kind of marketing strategy in popups (bad idea), or exit (logout) pages, or as an in between page after someone logs in, or for a 404 error page, etc. All of these things are things that you can do yourself with your own website and a little bit of research - FREE, and for as many campaigns as you want. 

What makes these OTOs work comes down to two things - a TON of traffic (they say they have a 3+ percent conversion), and a lot of flashy hype. 

Now let's get down to a reality check before you start thinking that you could maybe make a lot of money just selling their program. IF you sold their $67 program (you would need a Clickbank ID to do that) and you had 100 REAL visitors to your website per day, (not click-click-clickers) you would make 3 sales (according to their ad copy), at 75% commission, which is about $150 per day. 

However, if you think you're going to make that kind of money with generic traffic like most people are generating these days, I have a great deal on a bridge for you, too! 

I also found one, in my opinion, outright lie on the website. I quote: "Don't miss a word of this page as this is third and most powerful way to make money through this system and the best part is that You need not to do anything for it. All you have to do is to become Pro Member and it's done. This system will do everything for you." 

That's if you pay the $67.00. That is a pretty blatant falsehood. There is no system in existence that will do everything for you. YOU will have to generate enough pairs of eyes looking at the offer for it to make any money at all, and believe me, you will be lucky to get a .03% conversion rate, where you actually find someone who actually has the money and the will to shell out $67 on this system. 

My best recommendation is that you take your $67 if you can spare it, and buy you and a friend a nice dinner somewhere. You'll definitely get more bang for your buck, and a LOT more satisfaction. 

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