Very often, the thought of creating an original product is very scary. You probably feel more comfortable selling or marketing other people's products as an affiliate.
Product creation isn't as hard as you may think and making a best seller out of it is as easy too. One thing is sure, people love original products and will pay almost anything to get it as long as it provides solution to their problem.
Pre Product Creation
Before you even start your product creation, there are certain things that you must define. You must set goal or objectives for the product, i.e. what you hope to achieve with it. You have to determine the solution creating this product with offer. Some of these objectives can be;
What Makes A Product A Best Seller?
As the name implies, a best seller product is one that has had a huge and rapid sale. So after determining the objectives of the product you want to create, you would want to know the tools you will need to employ in order to make the product a best seller.
Some of the factors that can make a product a best seller include;
Market Research
This is where you need to identify a targeted market for the solution you want to provide through your product. You will need to search the several online lists for what is hot, current and a best seller. You can use Amazon, Barnes and Noble, Bookspot etc for this.
Next you will have to laser target or break down these broad best seller lists into mini target market lists or sub niches.
Market Competitiveness and Profitability
1.
You can 'steal' another person's idea by;
Look at what products the sponsored listings (AdWords) in your search are selling and identify gaps you can exploit.
3.
You can also get product creation ideas from articles. Check EzineArticles, Findarticles, Goarticles, Articlebase etc.
4.
Use Yahoo News
Use Videos
Use the below top free video distribution sites for your research
YouTube, iFilm, Google Video
6.
Using Google/Yahoo groups or forums
Here review the activities of the past three months and identify the following;
Using ClickBank Marketplace for Your Product Creation
Here you only need to identify the top ten products in each category because they are listed according to sales which make them hot selling and best sellers.
8.
Check Google Trends
This shows you what people are searching most on the internet at that particular time.
Product Creation Stage
Here your aim should be to create short but powerful and value packed information products. Make sure that the products come in easy packaging with emphasis on high perceived value.
Let your product be a combination of three quality contents;
Audio Interviews
Use Camtasia Studio for this.
Resale Rights (RR) and Private Label Rights (PLR)
Themed packages
Instead of making your product one-off, you can turn it into a series or other types of segments. E.g.
o Ebook covers
o Book covers
o Before and after pictures
o Photos on testimonials
o Income proof
o Examples
Bonuses
Use this always to increase the perceived value of the product. The purpose here with bonuses is to over deliver to the customers. Make sure to attach the market value of these bonuses clearly. Let the bonuses be related to the main product. Do not use cheap and low quality works as bonuses.
You can organize your product in the method below especially if you are using the module system.
Use the introduction part as the front end product (as a lead generator maybe) which should be priced very low of course or even free.
When the customer purchases or signs up for this, follow up with a thank you page with a link to download what he paid or requested for, in case it is free.
On the same thank you page include the offer for the additional products which can be the main product content but spilled up into modules.
Making The Sales (Money Making Strategies)
Set up your product funnel correctly before launching by doing the following;
1
Create a strong compelling sales letter. If you can't write, you can find writers at Elance, Rentacoder, Eufreelance etc, or you can even copy elements of a good sales letter you have seen that made you want to buy. Make sure your sales letter has the following components;
Killer headline
Focus on benefits instead of features
Talks to the target market and answers the questions of their needs and wants.
Good graphics
Focused on the customers (meaning the word YOU appears more than the word I).
Packed with relevant bonuses
Power closing offer and money-back guarantee
2
Incorporate affiliate products in your back end sales
3
Incorporate AdSense ads of related products on your thank you or back end pages
4
Create a goal and a daily promotional plan
If you don't get involved with daily marketing activities for your business you will not get anywhere in terms of revenue generation. You can use any or all of the following;
Submitting press releases
Submitting articles
JV partnerships
Forums participation
Groups participation
PPC campaign
etc
But make sure you assign specific time slots of the day to each. You must plan to be focused.
5
Leverage all your traffic
Make sure you get something out of everyone that visits your page even if they don't buy immediately.
You can send all your traffic to a lead capture page or squeeze page first
Also incorporate exit pop ups on your sales/squeeze page
6
Build lists for follow up
You gain trust and credibility with the subscribers for easier sale.
You educate them about the market and your product
Soft-sell them on your product
Send them to your sales page as often as you want
7
Promotion
Start an affiliate program for your products
Check Paydotcom, ClickBank, 2Checkout for affiliate program/merchant accounts
Promote your affiliate programs at Associateprograms, Affiliateguide, Affiliatematch
8
Pay Per Click (PPC)
Before using Google AdWords or Yahoo search engines, try some smaller search engines first as a test run. These are Bidvertiser, Goclick, 7Search. You can also find others at Payperclicksearchengines.
Two ways you can get to top spot with Google are, pay the top price per click or out-perform your competitors by getting more Click Through Rate (CTR).
9
Focus on turning both prospects and customers into your affiliates
10
Seek joint ventures and super affiliates to market your product
11
Make use of ezine advertising
Product creation isn't as hard as you may think and making a best seller out of it is as easy too. One thing is sure, people love original products and will pay almost anything to get it as long as it provides solution to their problem.
Pre Product Creation
Before you even start your product creation, there are certain things that you must define. You must set goal or objectives for the product, i.e. what you hope to achieve with it. You have to determine the solution creating this product with offer. Some of these objectives can be;
- Money making
- Lead generation
- Affiliate marketing weapon
- Publicity
- Personal branding
- Free gift for list building
- Viral traffic generation
- Tools for joint venture partnership
- Etc
What Makes A Product A Best Seller?
As the name implies, a best seller product is one that has had a huge and rapid sale. So after determining the objectives of the product you want to create, you would want to know the tools you will need to employ in order to make the product a best seller.
Some of the factors that can make a product a best seller include;
- Hot and current topics
- Controversial topics
- Creating a prior build up, advert, hype or buzz
- Problem solving product
- Title (provocative and catchy)
- Outrageous claim
- High quality
- Over delivering
- First of its kind, unique
- Marketing methods used (JV, affiliates)
- Good copywriting (great sales letter)
- Great graphics (e-book cover)
- Great number of bonuses
- Etc
Market Research
This is where you need to identify a targeted market for the solution you want to provide through your product. You will need to search the several online lists for what is hot, current and a best seller. You can use Amazon, Barnes and Noble, Bookspot etc for this.
Next you will have to laser target or break down these broad best seller lists into mini target market lists or sub niches.
Market Competitiveness and Profitability
- Find laser targeted or mini keywords related to the broad lists you have identified. Use Overture Inventory for this.
- Search these mini keywords on Google to check the number of natural and sponsored (AdWords) results that come up. Low numbers may either mean untapped or unprofitable market for that keyword. Also from the natural results notice their make up, i.e. are they mostly free information sites or selling sites for the product?
- High number of results/competitors/sponsored listings (AdWords) is what to look out for because if people are willing to pay/bid for such keywords, then it must be an active market where money can be made from selling the products.
- Check competitors' websites so you can get additional info on pricing. This will help you price your own related product. You can set a higher price especially if your own product is better or is packaged in a different way.
- You can also check prices at Amazon where you can sort them according to relevance or even by best sellers. But you want current information so you sort by publication date to get the prices for recent works.
- Next you check how profitable the market is by checking the advertising cost for the selected market. You use Google AdWords for this. Here the aim is to measure how much you are willing to pay to advertise this product against the price info you have gotten from above. You must make sure that with your Cost Per Click (CPC) value, 1% conversion rate and 500 - 600 clicks per month, that your cost for acquiring 1 customer is far less than the price for the product.
1.
You can 'steal' another person's idea by;
- Creating a twist to an already existing best selling product
- Creating a better product from an already existing best selling product
- Creating a companion product to an already existing best selling product
Look at what products the sponsored listings (AdWords) in your search are selling and identify gaps you can exploit.
3.
You can also get product creation ideas from articles. Check EzineArticles, Findarticles, Goarticles, Articlebase etc.
4.
Use Yahoo News
- Identify markets and generate ideas based on current news
- Look up stories related to your identified market
Use Videos
Use the below top free video distribution sites for your research
YouTube, iFilm, Google Video
6.
Using Google/Yahoo groups or forums
Here review the activities of the past three months and identify the following;
- What kind of topics come up regularly
- The kind of questions people are asking
- Look for problem-solution-kind-of-questions like "I wish I could find something..." or "Why hasn't someone come up with a way to create...." or "How can I......"
- Get actively involved with such forums and start creating solutions.
Using ClickBank Marketplace for Your Product Creation
Here you only need to identify the top ten products in each category because they are listed according to sales which make them hot selling and best sellers.
8.
Check Google Trends
This shows you what people are searching most on the internet at that particular time.
Product Creation Stage
Here your aim should be to create short but powerful and value packed information products. Make sure that the products come in easy packaging with emphasis on high perceived value.
Let your product be a combination of three quality contents;
- The main product content
- Back and mid sale content
- Bonuses
Audio Interviews
- Find someone to interview you
- Find an expert to interview
Use Camtasia Studio for this.
Resale Rights (RR) and Private Label Rights (PLR)
- RR gives you the right to re-sell a product without claiming ownership of the product.
- PLR on the other hand allows you to claim ownership of the product by putting your name on it as creator.
Themed packages
Instead of making your product one-off, you can turn it into a series or other types of segments. E.g.
- Volume 1, Volume 2, Volume 3
- Basic, Intermediate, Advanced
- Past, Current, Future
- Kids, Teens, Adults
- Level 1, Level 2, Level 3
- Part 1, Part 2, Part 3
- Students vs Teachers
- Amateurs vs Experts/Professionals
- Create 10 - 12 page reports
- Price them low or make them free
- Use them as list builders
- Over load it with premium information
- Never run short of giving members abundant information both free and paid
- Explore Hipcast
- Incorporate Lock Area Lite in the blog
- E-classes, Teleseminars, Webinars
- JV Partnership products
- Use the module system where you can break up a large eBook into several components that can be called a home study kit or course.
- Add different media to a single product. (Text + audio + video)
- Employ great graphics (product images and screenshots) effectively because people love them. You can stimulate people's buy senses by using the following on the sales copy/letter:
o Ebook covers
o Book covers
o Before and after pictures
o Photos on testimonials
o Income proof
o Examples
Bonuses
Use this always to increase the perceived value of the product. The purpose here with bonuses is to over deliver to the customers. Make sure to attach the market value of these bonuses clearly. Let the bonuses be related to the main product. Do not use cheap and low quality works as bonuses.
You can organize your product in the method below especially if you are using the module system.
Use the introduction part as the front end product (as a lead generator maybe) which should be priced very low of course or even free.
When the customer purchases or signs up for this, follow up with a thank you page with a link to download what he paid or requested for, in case it is free.
On the same thank you page include the offer for the additional products which can be the main product content but spilled up into modules.
Making The Sales (Money Making Strategies)
Set up your product funnel correctly before launching by doing the following;
1
Create a strong compelling sales letter. If you can't write, you can find writers at Elance, Rentacoder, Eufreelance etc, or you can even copy elements of a good sales letter you have seen that made you want to buy. Make sure your sales letter has the following components;
Killer headline
Focus on benefits instead of features
Talks to the target market and answers the questions of their needs and wants.
Good graphics
Focused on the customers (meaning the word YOU appears more than the word I).
Packed with relevant bonuses
Power closing offer and money-back guarantee
2
Incorporate affiliate products in your back end sales
3
Incorporate AdSense ads of related products on your thank you or back end pages
4
Create a goal and a daily promotional plan
If you don't get involved with daily marketing activities for your business you will not get anywhere in terms of revenue generation. You can use any or all of the following;
Submitting press releases
Submitting articles
JV partnerships
Forums participation
Groups participation
PPC campaign
etc
But make sure you assign specific time slots of the day to each. You must plan to be focused.
5
Leverage all your traffic
Make sure you get something out of everyone that visits your page even if they don't buy immediately.
You can send all your traffic to a lead capture page or squeeze page first
Also incorporate exit pop ups on your sales/squeeze page
6
Build lists for follow up
You gain trust and credibility with the subscribers for easier sale.
You educate them about the market and your product
Soft-sell them on your product
Send them to your sales page as often as you want
7
Promotion
Start an affiliate program for your products
Check Paydotcom, ClickBank, 2Checkout for affiliate program/merchant accounts
Promote your affiliate programs at Associateprograms, Affiliateguide, Affiliatematch
8
Pay Per Click (PPC)
Before using Google AdWords or Yahoo search engines, try some smaller search engines first as a test run. These are Bidvertiser, Goclick, 7Search. You can also find others at Payperclicksearchengines.
Two ways you can get to top spot with Google are, pay the top price per click or out-perform your competitors by getting more Click Through Rate (CTR).
9
Focus on turning both prospects and customers into your affiliates
10
Seek joint ventures and super affiliates to market your product
11
Make use of ezine advertising
The author Onyekachi Uzoechina writes on several topics that are all related to achieving a strong income base. These are topics that will benefit both online and offline money making businesses. Visit his site at http://www.clicau.com/u.php?7 to learn more.
