Fishbowling is a unique word. It has different meanings, some that are bit R rated and can’t be used in this forum. But I define the term fishbowling as the marketing technique of collecting the customer’s information and use it to create a marketing program to create sales for your business.

You probably have seen fishbowling in action. In fact, you might even been a willing participant in
fishbowling. Have you ever dropped your business card into a fishbowl at a fast food restaurant for a drawing for a free meal. What happened? The restaurant collected your personal information with the intent to market to you later. It is the concept that Internet Marketing was built upon.

This concept, I recognize, is not new. But let's examine the process of what is going on with the fishbowl technique. The business owner makes an offer of value (a free meal) in exchange for information (your personal information -- a name, an address, a phone number and an email). You would probably agree that business cards display this information at the minimum. But check this out! You're giving up a lot of info for a chance, probably fat / slim chance, of winning a sandwich. As an aside, why does fat chance and slim chance mean the same thing?

Remarkable, isn't it, that the fast food business can extract so much info for so little. Don’t think so? Well, consider this. I bet you have, at least once or twice, clicked on a hyperlink and wound up on a sales page. More than likely, the sales letter will offer you a free eBook, or report of perceived value (did I say perceived?). What do they want in exchange for your free eBook or report -- just your first name and email. Even then, the conversion rates are so low.

The restaurant conversion rate is higher because the customer has a relationship with the fast food restaurant. They are already customers more than likely. The customers already believe there is value, if not they would not be eating there.

Take list building for example. If you offer something of little value, you can only ask for something of little value in return. If you offer something of little value, your conversion rate will be low because even their first name and email isn't worth most of the junk people are passing off as "value".

If you want to build a relationship with a potential customer, you must create trust immediately. When trying to capture personal information through the vast and endless and impersonal Internet, you must outshine your competition and make your offers worthwhile for the customer to part with their marketing information. High quality offers will lead to high quality conversion rates. You are trusted more because you are giving up real value for something so little as their first name and email address. It is the fishbowling technique is action.

To living your dreams,

Chuck Yockey

Chuck Yockey has successfully run his own businesses for many years. He is currently involved in helping businesses and individuals be successful in Internet Marketing. Check Out My Free Internet Marketing Tips Newsletter