Andrew Reynolds told me all about his discovery of a fairly new technological advancement which he soon realised could bring large financial rewards to his Cash on Demand students.
So, this is what he is so excited about…
As he explained, this tool can give you virtually an instant Cash on Demand product. You don’t have a product to develop and there’s no licence to buy or up front costs.
Sounds exciting, so what is it?
On one of his many trips to the USA, apparently about 18 months ago now, Andrew Reynolds heard the phrase Podcasting.
He didn’t have a clue what it meant, and he admitted that he thought it sounded like a fad. At the time he certainly didn’t believe it was anything he could use with his Cash on Demand business. However, as always, he looked into the new technology, not wishing to dismiss it offhand.
At the time, though, Andrew Reynolds was very busy and so caught up in a project in the States that after a brief look into Podcasting, he forgot about it.
But then a few weeks ago, he met a great friend of his from the other side of the Atlantic. His friend, Bob Proctor is also a great Cash on Demand style marketer.
In case you have never heard of Bob Proctor, he is one of the most brilliant motivational individuals around. He truly changes lives. He’s coached a great number of people to become Millionaires, in fact Multi-Millionaires.
He’s in such demand that people pay him $100,000 EACH to be personally coached by him. That’s around a cool £60.000 a time.
If you’re interested his website is: www.BobProctor.com
So, it was Bob Proctor that Andrew Reynolds met up with a few weeks ago. And to his surprise, Bob showed him his latest product. It was a briefcase containing his latest Training Course along with a Digital MP3 Player pre-loaded with the entire course.
As Andrew Reynolds explained, he knew immediately this was such am amazing idea. It meant that anyone owning this could listen to the programme IMMEDIATELY. It wouldn’t matter if they were travelling or at home.
They could immerse themselves in listening to the Training Course at anytime and anywhere!
For instance, you could listen to it during a bus or train journey, or waiting in a long queue, or at lunch break even while relaxing by the pool.
You can check out details on this to see what I mean at: http://TheSGRprogram.com
So, it’s a training course delivered in MP3 format on an iPod® or similar MP3 player. It’s a new concept, it’s innovative and it’s sheer GENIUS!
And so, of course, as Andrew Reynolds told me, a light bulb went off in his head. At that moment he realised that this was a powerful TOOL for a Cash on Demand business.
Up until then, he had dismissed the iPod® and Podcasting, he couldn’t see a way it could be used in the Cash on Demand business.
Now, he could see that providing existing information or newly created products in this format would open up a completely new world of sales opportunities.
In fact, Andrew Reynolds began to see incredible possibilities for this Brand New Delivery Method.
Maybe, before we go any further, I ought to quickly explain exactly what Podcasting is. I know most people have heard about it before, but I know that not everyone understands exactly what it’s all about. And that may make it puzzling as to how you can use it yourself to create a NEW Cash on Demand business.
Basically, Podcasting is a particular way of publishing audio programmes. So, if we go back to the start of this technology, it began with Audio cassettes…and then to the current trend which is CD’s. Podcasting has an added benefit…the audio content can be distributed online through the Internet.
This is revolutionary…it means you can feed audio content directly from person to person through the Internet.
AND it can be listened to at any time at any place, wherever the listener happens to be…they simply need an iPod®.
And as Andrew Reynolds explains that is when he got the Eureka moment, because from a money-making perspective, he immediately saw the possibilities of using this as a tool for himself and his Cash on Demand students.
And that is because a Podcast is a very easy way to publish audio content online direct from a website with very little work.
All the Cash on Demand targeted customers do, is simply access the site whenever they choose to, and then instantly download the audio content either free or for a one-off fee…whichever business model it is.
If this doesn’t mean much to you yet, don’t worry because what Andrew Reynolds has in mind is a really simple method of making money from Podcasting. He’ll tell you all about in this month’s very exciting Module.
For now, just appreciate that Podcasting has grown into an overnight phenomenon…
As with many new inventions, the full potential was slow to catch on. Originally it was not seen as anything more than a way for small start ups to make radio programmes and get them out to listeners cheaply. It was a cheap route because it was an alternative to a full blown radio station.
But now, the sharp marketers have seen the full potential of ways to use this new technology to make money within their existing business model.
And it is particularly suitable for our Cash on Demand system. It fits neatly with the three products a Cash on Demand business markets. Which as all the students know are….
- Paper Products
- Digital Products (formerly CD’s, DVD’s etc but now also Podcasts, MP3 files etc)
In case you don’t know this, the name Podcast came from the name of the leading MP3 player which is the Apple iPod®. Much as the hoover is the accepted term for any vacuum cleaner, the iPod term is used as the term for the delivery of an audio file using almost any form of digital MP3 player or any PC with compatible software and speakers.
Through further technology advances, there is now the video enabled iPod®. So, the delivery of the content that used to go onto DVD’s and before that video tapes, can now be delivered on the video iPod® and similar devices.
Andrew Reynolds explained that this could initiate the merging of two types of the products we sell. It would make the delivery of seminars in video format perfect for use on such players. In other words, it will become digital delivery of recorded seminars. Perfect product!
So, it is an extremely exciting time and a BIG opportunity for expanding the Cash on Demand system.
Talking to Andrew Reynolds the other day, he said that the growth of Podcasting is unprecedented…
If you take a closer look at the roots of this digital phenomenon, you will know that in the Autumn of 2004, Google’s search engine reported less than 25 SEARCHES for the term ‘Podcasting’.
Hardly sensational is it? But this IS…
Just a year later, Google had received an incredible 60 MILLION PLUS searches of the same term.
So, as you can see, in just ONE YEAR this digital gadgetry had grown in popularity from NOTHING to a SOUND COMMERCIAL TOOL. And as usual, the savvy marketers took note.
This is the way the market usually pans out under such conditions…
Many marketers don’t react straight away, they sit back and wait to see how the major players develop and take the new piece of kit, to the market place.
An earlier example of this was when Video first came out. There were two formats battling it out for supremacy…VHS and Beta (I’m not certain if it was called Betamax) but anyway as you can see from my not remembering the correct name, VHS won in the popularity stakes while Beta sank into oblivion. But the point is this…that while the general public were divided…some people purchased VHS video machines while others plumped for Beta, the marketers that waited, didn’t run the risk of jumping on the wrong bandwagon.
Once the winning format was obvious, that was the point these marketers entered the market place. In fact they had it all worked out and could storm the market and make a financial killing.
And the new technology of MP3 and Podcasting, has been no different. The time of standing by and waiting is over. The general public have chosen their favourites. And now is the time to explode into action and use this great tool for your own Cash on Demand business.
You may be amazed at the next thing I’m going to tell you, because Andrew Reynolds explains to all of his students that if you’re keen to use Podcasting as a tool for your Cash on Demand business, YOU DON’T ACTUALLY NEED AN iPOD®. And you don’t need to know how to Cast either (as in broadcast).
Remember, at the beginning that I mentioned Andrew Reynolds great friend, the Motivational Coach, Bob Proctor. And I’m sure you’ll remember that I mentioned Bob Proctor’s package which actually INCLUDES a FREE IPOD® style MP3 player as part of the kit.
Well, Podcasting is a bit of a misnomer as your customers DON’T need an iPod® and you don’t need to actually ‘cast’ anything. As I said earlier, just as any vacuum cleaner can ‘hoover’ Podcasts too can be played back on ANY form of digital audio player. In other words it doesn’t have to be an Apple iPod®. All brands and manufacturers of MP3 and digital audio devices, as well as PC’s and Apple Macs, along with next generation mobile phones and PDA’s, do the job.
This all serves to widen the appeal of the Podcast as an audio product delivery medium…
It is these considerations that helped Andrew Reynolds to lay aside his initial reservation when he first thought about testing the concept of supplying information in this format. At that time, he wondered if a lot of customers in his market niches would embrace such new technology.
In other words, Andrew was concerned that they may not yet own an iPod® or a similar player, maybe not even one of the new ‘all singing and dancing’ mobile phones.
If this was the case, Andrew Reynolds could see that swapping to Podcast delivery would alienate some of his customers and it would effectively cut off a large Cash on Demand stream of income that he was getting from CD’s he sent to his more traditional audience.
It has to be said, that clearly other marketers had the same concerns.
For suppliers of audio books, which would be one of the obvious candidates for moving across to digital delivery, soon realised that a big part of their core market was unlikely to embrace the new MP3 format during those early days.
And they did exactly what Andrew Reynolds did at the time DVD’s first came to the fore. They gave their customers a Pre-loaded PLAYER as part of the package.
The company PlayAway, became one of the first to use this initiative, by offering books ready packaged with their own player and ear pieces.
IT WAS A BRILLIANT IDEA!
A buyer’s problem was immediately solved. Plus the novelty of being given a FREE player made customers line up to purchase this latest offering.
It is a well known fact that the mature customers are traditionally the slowest to accept new technology devices. However, they were keen to buy the audio books with the built in players.
This all heralded a NEW METHOD of delivering audio products to your existing customer database.
And as Andrew Reynolds explains Podcasting has novelty and PR story value too if you adopt this early enough in your Cash on Demand niche market.