Porter Stansberry

A message from Porter Spamsberry & Co

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Each day, I like to check my spam folder several times because — who knows? Maybe somebody wrote me with a declaration of love, and I don’t get much of that in my usual inbox.

But no. No love ever in my spam folder.

Instead, all I ever find is dozens of messages from senders like:

Tech Crashes
Lucrative Market News
Worldwide Recession
Recession Starts Now
Market Collapsing

It’s not just the sender names that look the same.

All these emails have the same format, with a linked first sentence… a domain name that’s the same as the sender name (recessionstartsnow dot net)… and the identical “Thank You!” message that appears when you try to unsubscribe.

Unsubscribing, by the way, is impossible.

New disposable domains and new senders keep popping up in my spam folder, day after day, like moles. American Conservative Group. In Time Investing. Wallstreet Burning.

Sometimes, these website have disappeared by the time I click the link in the email, just a few hours after it was sent out.

But some of these emails do still point to live websites.

And on those websites, there’s always a video sales letter, which always features the same glum face. The glum face belongs to Porter Stansberry, the investment researcher and copywriter who started and then sold the billion-dollar company Stansberry Research.

What’s going on?

My suspicion is that this is some affiliate getting creative, and not a new email marketing strategy from Porter & Co, Stansberry’s new venture. But maybe I’m wrong.

If you know, and you would like to tell me, I will be grateful to you.

In any case, let me tease you about something else Stansberry-related:

A while back, a senior copywriter for Stansberry signed up to my newsletter. He replied to one of my emails, and offered to tell me the number one secret behind Stansberry’s billion-dollar success.

I won’t tell you what that copywriter told me — there’s value in not blabbing publicly.

But in case you would like to get on my email newsletter — after all, top copywriters and A-list marketers read it every day — click here to subscribe.

 

The end of Stansberry?

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Last week, a reader of my email newsletter who works for an Agora affiliate clued me into the following fact:

Stansberry Research is going public.

Stansberry, as you probably know, is one of the biggest imprints that came out of Agora. They had the End of America promo. This was one of the two or three biggest direct response campaigns of all time, bringing in hundreds of millions of dollars through a single VSL.

When I heard that Stansberry is going public, my first thought was to David Bowie.

Back in 1997, Bowie released 10-year bonds backed by the future royalties of his album sales.

​​Bowie bonds put $55 million into David Bowie’s pocket, and were given a respectable A3 rating.

​​But within a couple of years, digital file sharing caused the whole music album market to implode. Bowie bonds were downgraded to Baa3, one notch above junk bond status.

Maybe David Bowie, with his artist’s intuition, sensed it coming, and made a smart cash grab just in time?

And maybe Porter Stansberry, using his entrepreneur’s intuition, senses something similar in the current moment?

The Agora copywriter who told me about this assured me I’m imagining things. “It’s probably Stansberry himself wants to be a billionaire. He must be pretty close now.”

A Barrons article that reported on this quoted the CEO of the company that’s taking Stansberry public through a merger. That guy’s reasoning:

“We were looking for a company in the attention economy with scalable, digitally delivered IP. As people say, ‘content is king.’ But it’s rare that you find a company that’s as prolific at creating new IP… They’re like the Netflix of financial content.”

So rather than this being a Bowie moment, maybe it’s a Netflix moment?

​​A moment in which a somewhat limited, niche company uses its own existing assets and a bunch of cash to become a mainstream powerhouse?

Or maybe it’s a sign of things to come — Stansberry & chill?

Maybe. I’m not convinced. But I am curious. So if like me, you dip your toes in the direct response pond, it might be worth keeping an eye on the the ripples from this isolated pebble drop.

Or do you want me to keep an eye out for you? If so, then sign up for my email newsletter, because that’s where all my writing shows up first.

Shorthand and shortcut in direct response copywriting

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Imagine the year is 1999. You are a dentist named Kurt, living in a small town in Pennsylvania.

One beautiful Saturday morning in May, you walk out to your mailbox, and you find a letter. You open it up to see a big headline that reads:

“There’s a new railroad across America”

“And it’s making some people very rich…”

Pretty intriguing, right? So you start to read.

The letter tells you how railroads made huge fortunes in the 19th century. But bankers were afraid to invest, so it was small, independent investors who connected America by rail — and got filthy-as-Johnny-Rotten rich in the process.

Finally, the letter explains what it’s selling:

A few companies are laying down a fiber-optic network to connect America by Internet in the 21st century, much like the railroad connected it in the 19th century. People who invest in the right companies have the chance to get rich like 19th-century railroad barons. Do you want to be among these shrewd investors?

Plenty of people did, back in 1999, when Porter Stansberry sent them this letter to launch his newsletter.

But imagine if Porter had written a slightly different letter. Instead of talking about a railroad, imagine he had used the headline:

“There’s a new goldmine in America”

“And it’s making some people very rich…”

This is pretty similar to the original. Another metaphor. Would it work just as well?

It’s unlikely. Here’s a relevant quote by one Linda Berger, a law professsor at UNLV:

“A reader who is asked to interpret a novel metaphor will be engaged in the creation of meaning, while the reader who is confronted with a conventional metaphor will do nothing more than retrieve an abstract metaphoric category.”

Stansberry’s “railroad” is a metaphor for an investing opportunity. Odds are, you’ve never seen this metaphor before.

A “goldmine” is also a metaphor for an investing opportunity. Odds are, you’ve seen that plenty of times before.

And that’s the difference Berger is talking about.

When you give people a novel metaphor, they start turning it around in their brains. They map aspects of the metaphor to their situation. So “railroad” becomes “Internet”… “tracks” become “fiber-optic cable”… “independent 19th-century investor” becomes “me.”

But what if you give a reader a conventional metaphor like “goldmine”? If Berger is right, and I suspect she is, then the reader says, “Oh, they must mean this is a big investment opportunity.” And if that turns your reader on, then he continues to read.

In other words, a novel metaphor is a shortcut between where your reader currently is… and where you want him to go mentally.

A conventional metaphor is shorthand. It can be useful to quickly express a concept in a few words. But it’s not gonna create any new insight.

Remember my post from yesterday? It turns out both Gary Bencivenga and Mark Ford were right. Cliches have their uses, and their limitations. And now you know why — and when to use shorthand, and when to create mental shortcuts.

Speaking of shortcuts, I write a daily email newsletter about persuasion. The way to sign up for it is here.

“WILL YOU BE LEFT BEHIND?”

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In a moment of idleness today I clicked on an email from Stansberry Research. It took me to a VSL with a big headline that reads:

“WILL YOU BE LEFT BEHIND?”

Behind the video, there is a shadowy photo of what looks like people being corralled into a concentration camp. And then Porter Stansberry starts to speak in a monotone voice:

“In regular places all across America, the lights are going out. And no, I don’t mean streetlights.”

I didn’t watch past the first few minutes. I am not in the Stansberry target audience, and it didn’t much move me. But something similar did move me a while back.

A while back, copywriter Dan Ferrari sent out an email with the subject line “If you want to be a poor, no-name copywriter, don’t read this.” It was about the consolidation Dan saw in the direct response industry. Here’s a part of that email:

“If you’re a copywriter that can produce actual results in that cold traffic, consolidated arena, you’ll have it made. If not, you’re going to be one of the writers fighting for the scraps.”

Really, this is very similar to the Stansberry promotion. It’s a prediction about the future, with the overarching message:

“Some will get left behind, while others will thrive — and it’s your choice which group you end up in.”

I don’t bring this up to talk about the future — of copywriters or of pensioners. Instead, I bring it up to talk about inspiration.

I used to think I cannot write inspirational copy.

After all, I’m such a cold, unenthusiastic fish. How can I possibly motivate others when I can’t even motivate myself?

But then I realized inspirational copy has its own predictable templates. Some are familiar — Frodo goes to Mordor and keeps pushing when the ring gets real heavy.

But there are other inspirational templates as well.

The way to find them is simply to watch your own cold heart. If it starts to twitch with a bit of life, you might have just read something inspirational. So take note of it, and see how you were influenced.

That’s how I singled out that Dan Ferrari email, which reincarnated into the Stansberry promo. And which, if you’re a student of copywriting who’s always looking to improve, you can find here:

https://orders.stansberryresearch.com/?cid=MKT421756&eid=MKT460923

Why I don’t stress about the “big idea”

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Once upon a time, I read a thought-provoking article by multimillionaire copywriter, marketer, and investor Mark Ford.

Mark’s article was titled, “Why Every Copywriter Needs a Big Idea”.

As you might know, the BIG IDEA is a very hot and trendy topic in copywriting circles these days. Mark even says the big idea might be the “best direct-marketing technique of them all.”

Woof! ​​So what exactly is it?

Well, let me give you a few examples. There are a couple of “big idea” promotions that almost everyone agrees on —

1. Mike Palmer’s “The end of America” (the growing debt of the US government will lead to catastrophic consequences, buy our investment newsletter to figure out how to protect yourself)

2. Porter Stansberry’s “New railroad” (the rail made fortunes in the 19th century, fiber-optic cables can do it today, buy our investment newsletter to get our stock picks)

Those two promotions most often get hoisted up on the flagpole of the Republic of the Big Idea.

However, explaining what exactly makes a big idea big depends on who you ask. For example, Mark gives the following four-part definition:

A big idea is important, exciting, beneficial, and leads to an inevitable conclusion.

Sounds reasonable.

But when it comes to applying this definition in practice, that’s when things seem to get almost mystical, or as Mark puts it, Yoda-like.

​​(​​At one point, Mark even makes a distinction between a “big concept” and a “big idea”. Unravel that for yourself.)

The upshot is that I personally don’t stress about the big idea.

One reason is that I’m not sure what it really means.

Another is that I get the sneaking suspicion that a big idea is simply an idea that worked — which copywriting teachers, gurus, and coaches then retroactively mystify as part of their job.

Finally, I think that the big idea, as illustrated by the examples above, is only NEEDED in markets in the end-stages of sophistication — those markets that are so wary of hearing anything resembling a pitch that they need to be seduced and lulled by a new and surprising approach.

For example, that’s how the financial newsletter market is, like in the examples above.

But those aren’t the kinds of that I often write in.

So instead of stressing about the big idea, I simply look to come up with a hook — a story, a big benefit, a metaphor, a conundrum — to suck the reader in and to get him reading more.

​​And many times, whether that qualifies as a big idea, a big concept, or merely a sales hook, it’s good enough for me to make sales, even on cold, unfriendly traffic.

So if that’s something you do — running offers to cold traffic — then I hope you have reached an inevitable conclusion by now.

​​And I hope you want to talk about important and exciting ways to benefit your business.

​​If so, simply write me an email and we can take it from there, on a new railroad across America.