How to Create Your Own Products & Make Money Online ?
Should you create your own products ? If you are a successful affiliate marketer, then it’s only natural that you might want to take your online business to the next level. The lessons you have learned and the skills you have mastered will be helpful in many areas of Internet marketing.
However, one area in particular should be ideal for your skills, and that’s in creating your own products.
The first, most obvious reason for this is that product creation can be a very profitable venture. Additionally, you can quickly establish yourself as an expert in the niches you target by creating good-quality products.
This can quickly lead to promotional opportunities; I have lost count of the number of interviews I’ve been ask to do as a result of people reading my products.
To create a successful product, you need to go through four distinct stages, each of which we will look at separately — conception, creation, promotion, and sales and delivery.
Each of these stages is important in its own right; get one of them wrong and even the best product can be a complete flop. Get all the aspects right, and you can generate a full-time income for yourself in a very short period of time.
Stage #1: Conception
The conception stage focuses on what your product will cover. Obviously, you can create your product about anything you want; but it should be something about which you have acquired a good deal ofknowledge.
If you use article marketing to promote affiliate products, you would be surprised at how much knowledge you have about the niches in which you promote products. This knowledge alone could be used to create a product.
Digital products generally fall into two categories: products that are related to Internet marketing, and products that are not. Which area you target is up to you; both have advantages and disadvantages.
Internet Marketing-related products can make a lot of money for you; in fact, several such products have made over $1 million in sales!
The less positive side of IM-based products is that they tend to get a far higher number of refunds; 5%– 10% is normal. On the other hand, while you won’t make as much with a non-IM product, you will have farfew refunds to deal with.
Stage #2: Creation
Your digital product can take many forms. Ebooks, videos, and audios, or a combination of any of them, are all good ways to create a product. Your products don’t need to take you a long time to create.
You can create low-priced products and sell them via forums to start with. Then take feedback from these and create a much bigger product.
My very first product was a series of five videos that showed people how to do simple SEO. It took me a few hours to promote and made about $700.
My second was a 16-page report that I wrote in a day and sold in a forum for $10. I made over $3,000 in 48 hours. More importantly, I asked everyone who purchased my second product for feedback.
Once I had the feedback, I then spent a month expanding the second product into a 120-page report. I improved the areas that people suggested needed improving and added other sections that buyers saidwould be useful.
I then created videos to go with it and launched it on ClickBank, where it still sells lots of copies every month.
If you decide that there is a niche that you can target, then the best way to create a product is to purchase the best-selling products currently in that niche. Read them cover to cover and take notes.
Now you need to improve on those products and give your customers a much better product.
Creating a product can be as easy or as hard as you want to make it. You could have a product on sale within a few hours of reading this if you wanted. Here are some ways of getting a product on sale.
As you go down the list, the time and level of difficultly increase, but so do the potential profits.
• Purchase a Master Resale Rights product that comes with a sales page, and you have an Instant product for sale.
• If you want to take it one step further, you could get new graphics for the e-cover and the sales page.
• To take it further still, rewrite the ebook and the sales page, and you now have a unique product of your own.
• Create your own videos demonstrating how to do something.
• Write an ebook about a product and a create a sales page
Finally, in this section I should point out the value of outsourcing, I always outsource the creation of the graphics and the sales pages of my products. I want the most professional-looking product possible, andprofessional graphics are a must.
It is also possible to outsource the writing of an ebook. If you really don’t like writing, then this is worth considering.
Stage #3: Promotion
Promoting your products properly is vital. Promotion has two effects: it generates sales, and it gets you affiliates who will make sales for you. You can promote your products in many ways; article marketing, pay per click advertising, and forum posts are a great way to get sales initially.
By attracting affiliates, you can let them do all the promotion work.
Initially you should also post about your product on JV blogs and in Internet marketing forums. You may find members who have an existing list of subscribers in your niche.
Don’t be afraid to give away review copies of your product; these are great for getting reviews and even testimonials for your sales page.
Also consider doing a press release about your product. These can be great for getting interviews and getting word out about your product.
Stage #4: Sales and Delivery
The final piece of the puzzle is delivering the product to your purchasers. Don’t be tempted to use email for this. Buyers expect to be able to get their purchases immediately.
I have one product that is set up to be delivered via email once the customer confirms their email address; it’s a nightmare! Unfortunately, as it’s a weekly product, there is no way I can change it.There are a number of sales and delivery methods you should consider.
The prices of these vary; for example, ClickBank charges you $49.95 for the first product you add and $29.95 for additional ones. They also charge a fee on each on sale. Others, such as PayDotCom, charge a small fee for each sale.
Still others, such as e-junkie, charge a small monthly fee irrespective of how many products you sell.
The benefit of using services like these is that they have a sales process in place that is tested and works. It’s up to you to decide which method best suits your product.
When determining how to sell and deliver your product, take into account how you receive your money and how many affiliates you are likely to get by using that service.
Some Advice Learned the Hard Way
If you create a digital product, make sure that you use some sort of download protection software. I don’t dare think about how much money I lost when I launched my first big product because I didn’t use download protection.
Also, don’t take refunds personally. Some people are serial refunders — they buy every product that looks good to them, and soon thereafter, they ask for a refund.
To make it worse, they will add comments such as “This is the worst product I have ever seen.” Ignore comments like that, and trust your product.
Above all else, don’t let those last two paragraphs discourage you.
Creating products really is one of the best ways to make money online. It also gives you a great feeling when you check your stats and see you made lots of sales of a product that you created.
To quote a noted product maker: Just Do It!