One of the first things you have to consider when starting your online business is what are you going to sell? What is going to generate the income that you need to just sustain yourself month after month?
Well…having the ability to create your own products should be the solution to the answer to these questions. It will separate you from those who are somewhat successful to those who are extremely successful online.
Now we are going to focus on products that are mainly digital because it’s low cost and easy to transfer to the purchaser. And we are going to stick with products that are information based. And this means that we are going to be selling something that will help your potential buyer improve on some aspect of the life or business.
We believe that this is the fastest and most cost-effective way to start selling and making money quickly online. And once you start getting a few sales under your belt, you can start to create and sustain yourself full-time in your own business.
There are Two Other Ways to Sell Online…
Now before we go any further…let me inform you that there are two trains of thought that can go against what we’re suggesting here. The first one is affiliate marketing which means that you are not creating your own product but selling other peoples products instead.
And while there is a chance to make a significant income marketing other people’s products, your money will always be tied to the commission that the product owner will give to you. If you are getting the owner of the product, you will always be getting the 100% of the profits. Or you can dictate the commissions for affiliates who want to sell your product.
The other train of thought is to sell physical products from an e-commerce website. Usually you’ll be selling other people’s products as well through sites like Amazon, eBay, etc. And you can make a decent amount of money this way but nothing will give it the brand quality of creating your own products.
So why Should You Create Your Own Products?
Well again, it will build the brand for your company. It also incites loyalty to your customers or subscribers. Because they see that you are continually creating quality content and solutions just for them.
And again…you get all of the profits. 100%!
And…if you start an affiliate program, you get to call the shots on all of the commissions. You are Da MAN or WOMAN! And you get to create a great sales team that will continue to promote your products many times over.
And…it also creates Leverage. You will be approached from other marketers for joint ventures, webinar training, licensing because of your inventory of products.
So How do You get Started?
Research Your Market
You have to consider what market you’re trying to reach. You have to really understand the make up of the audience you’re trying to provide solutions for. And finally find out what that market is demanding…basically what do they need.
Once you’ve done the initial research, you create an idea based on that criteria. Now the idea should be something customized by you but it there is no need to reinvent the wheel. Go with works but add your personal touch to it and that’s all you need.
Here is the lazy way of getting out of all the research. You can easily go into a niche that is always in High Demand. A famous marketer once said that you will be golden if you concentrate on Health, Wealth & Relationships (Dating). Now there are several subcategories to these three and any one of them should give you great results. We will go into greater details or even more evergreen markets going forward.
Now You Can Create Your Very Own Digital Product
Now again there are all types of things you can sell online. We are focusing on how to information or what is normally called infoproducts in the internet marketing industry. And it’s the process of showing people how to improve in certain area, or how to do things faster or more efficiently.
So let’s go over the types of products you can create that have stood the test of time online…
The first way to do this is simply by writing a short report that should be around 20pgs. I say 20pgs because that’s the bare minimum length to providing decent quality content. It could be 20 to 30pgs long, which is even better. But at least 20pgs we’re saying at this point in time.
Now there are exceptions to every rule. Say if you don’t make it to 20pgs, then that’s fine. But you gotta make sure it’s quality stuff and not too much fluff. For example, I would not put three fluffy pages of an introduction and another two pages on the conclusion.
here’s another way to provide information that is digital content. Is this basically the same thing as a report however it’s usually more detailed and has a lot of more packed into it as a whole. I would say an e-book in today’s terms should be at least 30 to 50pgs to even qualify it as a true e-book. So going 30 and beyond should cover it.
Now as you can imagine, there have been reports that have been almost 100pgs in length. And there have been e-books that have been around 20-30pgs long especially in past. So don’t worry about the semantics.
Alert – for those who do not like to write, you do have alternatives. You can buy Digital content from several suppliers online who will give you their information with what we call private label rights – PLR. Now you will have to purchase that and you will find that the investment is worth it if you really don’t know how to write.
Audio products are very easy to create. It just depends on what medium you’re going to be using. An easy software medium to use today is Skype which is free. However the tools you have to add onto that to record can come at a cost. You can record your own training or do an interview with an expert. Upload that to a secure page on your site and you’re ready to Rock ‘n Roll. You can charge for access to the interview or training or just allow access for free.
Video Training Interviews– Here is where most markers of going today to create a higher perceived value to their products, and that’s video. There are a couple of ways to treat your video products.
You can create an actual video in its most original form which is to record you possibly doing a training from a whiteboard. Or you can create what we call a screen capture video. These are very popular and can be used and created very quickly, even within minutes with online software. The sources you can use are Jing, Screenr or Screencast-o-Matic.
Here is one of the most lucrative ways to not only create free products at a high-level but also you build your list. There’s really only one source that you should use for webinars at this time. There are others that try to do with this company does. However at this point, only go to GoToMeeting. Period.
On these presentations, you would use you yourself to do the training or invite an an expert to do the training for your audience. These presentations are usually done in PowerPoint form so you’ve a need to put together a PowerPoint (or Google Docs/Open Office presentation). And then once you get people onto the webinar you display your PowerPoint Demo while you talk over what you have to present.
Podcast are still used today although not as prominent as they were in the past. Usually people who are still using podcasts do it on a weekly schedule. And you can still create quite a following from this recordings. From this podcast you would do several things usually having a guest appear on the podcast or starting your own training on particular subject on what’s in demand for your audience.
High Ticket Item
These products are what we call big-ticket items that will be in the price range $295, $495, $995, even $1995 or more. No why would anyone pay this much money for this particular information?
Well this product you create is the whole kit and caboodle so to speak. As in an entire business in a box cover situation. It could be very advanced information not shared usually with the general public. Or it could be a done for you type product.
This is where you are hooking them up with the website, squeeze pages, autoresponder sequence, social media integration. The Works! You are setting up this business for them so they don’t have to. And you should charge big-time for this service because it’s a lot of work.
Or lastly it could be to put them in a mastermind group giving them the special privilege of being around markers who are highly successful and can help them grow and improve their business exponentially.
This type of product is highly recommended for everyone to have in their arsenal. What you have are secured sites that allow access for members to get into who will either pay:
- a one-time fee for access
- or they pay monthly ongoing
- or they’ll pay monthly ongoing
- or for a short period of time time of six months to a year.
With Membership sites as a product, you are going to give them a pdf report, audio or video product each month. You can decide to give them the option to resell these products or give them Private label rights as well. It could be any of the evergreen topics we discussed previously or maybe something more detail within those evergreen topics.
Or even if you have a feeling for a completely different topic, membership sites are ideal. You can create the type of community not available anywhere else people would easily buy into.
Pricing varies on Membership sites as well. They could be is Low as $5 to as much as $97 a month depending on the particular information that you are presenting.
I would study the competition and get a feel for where the price range should be and price your membership site accordingly.
And that about wraps up this page on Product Creation but come back later as we should be updating this page periodically…If you have any questions about what has been written on this page, please contact us and we will answer any of your questions creating your own products.
Now go ahead and get rocking on your new online product. I know it will be amazing!