StomperNet and Paul Lemberg are launching their profit building and coaching program Formula Five at 3:00 pm Eastern (8:00 pm UK) on July 14 2009.
Formula Five - affiliate link
There has been some uncertainty about just where Formula Five fits in the market as Paul Lemberg is an internal renowned business coach and I understand that StomperNet are the world's largest Internet marketing training company.
I was lucky to be given a review copy of Formula Five at the time of the January 2009 first launch and I believe it to be the finest Ecommerce business and profit coaching program that I have seen or had any connection with.
What Is Ecommerce
My definition of ecommerce is fairly simple.
Selling products and services using electronic marketing methods like the Internet and email.
I general talk of two types of marketing:
- Search marketing - where prospects are searching for solutions and the Internet now dominates that type of marketing where your task is to be found.
- Outreach marketing - where you contact targeted prospects and encourage them to buy. Email is a great example of reaching out and getting people to move to your agenda.
Ecommerce - Formula Five Home Base
Ecommerce is where the skills of Paul Lemberg and Stompernet fit best.
The business is complex, often employs staff and has a lot of different products and services.
An ecommerce business like that needs a premium profit coaching program and that is what Formula Five is.
The cost is much cheaper than working with a local business coach one to one and with a big opportunity and small cost, represents great value.
Formula Five Profit Building Blocks
Formula Five is based on five profit building blocks:
- Margin magnifier
- Sales stacker
- Lead landslide
- Conversion control
- Turbo thruster
In another blog I have contrasted how those compare with my own business improvement model, the Eight Pillars of Business Prosperity and other profit improvement models.
These are generic applications which can be applied to any business and that's exactly what Paul Lemberg has done with Formula Five.
The ideas behind Formula five can help any business to improve profit and not just ecommerce businesses.
And that's where some of the confusion has arisen over just who Formula Five will help.
Who Should Buy Formula Five
I am an affiliate for Formula Five so I will declare my vested interest. I profit if you buy through my link - Formula Five - affiliate link
If you are an ecommerce business and you want to improve profit, then buy Formula Five but with one proviso - you must be prepared to work through the training sessions and try things that it suggests. If you don't change what you do, you won't get the benefit.
If you sell a lot of information products on the Internet but don't physically ship products or supply services, then Formula Five will still be a good investment when you act on the ideas.
The stories from people responding to the free videos show that a simple price change can have a big effect on profit and Formula Five can give you confidence to push up prices or to add a premium product which makes your main product look better value.
If you promote your products or services on the Internet but you sell over the telephone or in person, then Formula Five can still be a big help. These profit techniques are universal and you will be able to use the ideas throughout your business. You just need a little imagination to take the ideas and transport them to your off-line business.
For other businesses, I would give Formula Five a miss.
You may still benefit from many of the tips but affiliate marketers aren't going to gain much, one product information marketers aren't likely to gain much and the more your selling moves away from the Internet, the more I think there are better products available for you.
I Have To Call It As I See It
I have tried to be very clear on who is best suited by Formula Five and again I return to the core market.
If you have an ecommerce business (100% or partly) then the material in Formula Five has the potential to have a huge impact on your business.
Formula Five (sales letter - affiliate link)
If you want more details I have written detailed reviews of Formula Five
Formula Five Review (on my Online Profits blog)
Disclosure - I am an affiliate for Formula Five and if you buy after clicking through from my link, I will be paid a commission. I have been given a copy of Formula Five to review.
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