Industry Dark Side: Even Unprofitable Products Sell Like Crazy Part 1
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Empathy level 99.9%!
What is this FX manga that’s trending now??
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This is FX Ryusei!
In the FX products world,
it’s still quite lively in a negative sense (laughs).
I’m aFX product seller myself, though...
Seven years have passed since I started trading FX,
I entered as an FX product marketer,
and now, after about four years,
What FX products actually are
is something you can’t help but understand,
and what it means,
is that marketing based on those FX products
is incredibly lucrative,
as I, a marketer, can clearly see.
As a result,
uneducated consumers are
merely dancing on the palms of malicious sellers.
That aside,
“FX Product Situation”
will be the focus,
and I’ll be giving the industry a rough cut!
▼件「In creating selling FX products, performance isn’t much of a problem,」 I was taught ▼
About three years after I started trading,
I began consulting on trading,
“Information publisher/seller”
and built a career from there.
During that time,
I met someone who was both an FX product seller and an affiliate,
and I ended up receiving their consulting.
That person
was someone who could sell
around 3 million yen a month in FX product marketing,
and when I studied under them,
they had a most impressive background.
What they first taught me was
“In selling FX products, performance isn’t the main issue.”
That is the point.
Performance (functional value) isn’t the issue; the
“presentation” matters.
That’s what it comes down to.
I didn’t agree with that teaching right away.
But thanks to it, I’ve come to understand the structure and intentions of the FX product industry quite well...
▼A Skillful Salesperson who can Sell Even a Stone at High Price▼
“If the marketing is good, even a plain stone can be sold at a high price.”
That’s what they say.
Not limited to FX product marketing,
this is a common notion in the world of sales.
But if one missteps, it becomesfraud.
When it comes to FX products,
if the
“functional value”
isn’t present as a product for FX education/tools,
buyers won’t gain anything from it.
As for trading,
since you’re using money as seed capital,
there’s a risk of losing more than the product price due to improper use.
There’s a worry there.
If the FX product lacks “functional value,”
it’s
just a stone.
“A stone product like that can’t make big money”
and malicious sellers sell it anyway,
knowingly.
But,
the concept that “performance isn’t a big issue”
does fit, so if you succeed in sales,
for them it’s enough to grab a fortune by selling stones at high prices.
Well,
for consumers,
Get real!!
That’s how it feels (^^;)
▼Making Functional Value Possible in FX Products is Extremely Difficult▼
FX trading is an extremely challenging endeavor to achieve results.
That premise remains unchanged as time passes,
so it’s truly hard to establish functional value in FX products.
Therefore, it’s normal to see sales letters that are impressive, but the contents are terrible.
Among such products, there is a genre where you can objectively measure
the “functional value”
. That is
the EA products.
EA products measure functional value through backtests and forward tests.
If results show up there, you must admit the presence of functional value.
However, creating EA with true functional value isn’t easy.
I’ve struggled too.
But that struggle was necessary for the benefit of others and for clean marketing.
Those who don’t want to go through that struggle, or those who don’t know what to do, will end up chasing worthless
“stone FX products”.
They spend large budgets solely on the presentation,focusing only on the “presentation,”and assume business success will follow.
As a result, the consumer side of rebellious marketers ends up like
”a nest of dissatisfaction”
even though it’s just a phase (^^;)
Well, that isn’t what you’d call “success.”
It’s not right to make customers hate you and call that success.
“There’s a strong belief that unless complaints come daily, you can’t succeed in information products”
On a side note,
I have a designer I often work with in my current job, an interesting person who
is very good at design and knows business well.
According to them,
they used to be quite reckless in the “make money” product business too (laughs).
They were selling horse-race related products,
and they said they received countless complaints and even had people shouting over the phone
quite often (^^;).
“In the product business, you’re a real pro only when complaints come daily.”
That’s what they say!
Well, that may be one way, but
I don’t think that approach suits me.
I’m sincere in providing information and conducting sales
so I hardly receive complaints.
Even if an EA has a drawdown,
“A business that expects complaints”
is more about the place that sells, I’d say.
The product part is often sloppy, so buyers don’t get results or earn money.
I think the part that should be dedicated to the product itself, the suffering in creation
is not being done, and that’s why people chase sloppy products
and cause a storm of complaints.
In the end, complaints can be dealt with if you’re able to approach things pragmatically,
and if you’re someone who can handle it, perhaps such a business might be possible,
but for me, it’s a stretch, and consumers are clearly unhappy.
By the way
that designer’s product sales story
is a past joke and
I’m not criticizing that person at all.
They’re a very trustworthy business partner♪
To be continued in Part 2!
This has become quite long,
so I’ll hand the continuation of this story to Part 2＾＾
In Part 1 you’ve already glimpsed the
“dark side of the industry”
of FX information products.
Please look forward to Part 2…!
