How To Create Your Own Product And Sell It On The Internet
You may totally ignore all that knowledge you gained through your life experience. Time to start putting all that knowledge into action by creating your own product and selling it.
What to sell?
When choosing what to sell, the objective is to find something that offers a lot of value and that seems like a very good deal but that at the same time, helps you save a lot of money and helps to make your life easier. The aim is to create a product with a very low production cost. Ideally, you also want something that you can produce once and then sell on scale to lots of people.
An online course is a perfect example of this!
Online courses don’t require any materials to create. There is no up-front investment and you can actually create your course completely for free. Thus, when you charge for said course, you will be getting 100% profit.
At the same time, online courses don’t require any delivery or packaging. And you only have to build them once - you can then sell them as many times as you like.
If you want to create some sort of software or app,
This book will teach you everything about the process from validating your idea to finding developers to launching your product to the masses. You’ll learn how to white board your ideas, create wireframes, and hire the right designers and programmers.
Seminars and workshops are good too!
Because they only take one day and you can serve multiple buyers at once. You only present one seminar but you can have 30 people there paying you, say, $2,000+ each. There is a small overhead (the cost of renting the room if you’re doing it live) but that’s it.
Webinars are a great alternative to seminars and workshops:
you can sell straight online, without even renting the room (take a look at the perfect webinar ).
Find your niche.
You also need to think of how marketable your product is and how many people it will appeal to (read how to create your marketing plan). You can quickly discover it by google searching some keywords you would use for your niche and see how many paid ads show up.
Look for a niche you know well and that you can offer something different to. Think about topics that people are willing to pay for.
Look at universal topics that appeal to everyone. Think about the emotion and the value proposition. Hone in on a specific segment of the market to make marketing easier.
Design your product...
Choose the type of product you want to sell. This could be an online course, seminar, workshop, ready-made-business, access to a community, consultation.
Next, think about the format that this will take and the type of media you’ll be producing: video, emails, one-to- one consultation, live workshops, seminars, ebooks, forums...
Choose something you’re going to be capable of creating and something that you can sell for the maximum asking price.
Come up with a curriculum to build authority.
Create your product!
If you’re creating text then make sure to have it proofread, write in a professional manner, format with the right fonts and images and save as a PDF. If you’re creating a video, then make sure you invest in high quality recording equipment. Present yourself in a professional manner, tidy your environment and create a set and invest in things like bottom thirds and video openers to make it more professional still.
Create your website.
This is where you’re going to be uploading your content and promoting it (a good place to start is by getting web hosting and a domain name). You’ll also want to upload all the materials you created for your product.
Create a sales funnel...
A sales funnel is your plan for attracting new customers. And then leading them by the hand from the point where they’re just discovering your brand, to the point where they feel familiar enough and trusting enough that they’re willing to part with their hard earned cash.
If you’re hoping to make money from your product, then by far the most important thing to consider is your targeting. In other words, finding people who are interested in your niche, who are the right age and sex and who have the right income. How?
Pay Per Click is a type of advertising where you only pay each time someone clicks on your links. PPC ads can be placed either on Google or on Facebook. You then can target people based on not only their age, sex and location but also on their hobbies, interests and job title!
How to build the perfect PPC campaign!
One of the key stages with any digital marketing strategy is what happens right before your sales funnel.
In other words, how are you bringing people to your brand in the first place? What are you doing to get them on your site? And how do you know that they’re going to be interested in what you’re selling? This is where PPC comes in.
PPC is ‘Pay Per Click’ advertising and the two biggest networks are Google AdWords and Facebook Ads.
But simply using PPC is not enough, if you’re going to be successful then you need to use PPC correctly and this will mean thinking about it in a highly systematic and logical way.
A good PPC campaign starts with the right targeting. This means knowing exactly who your target demographic is and where they’re likely to be/what they’re likely to be buying.
But just as important is to think about your 'Cost per Click (CPC).
This is the maximum bid you are willing to spend when someone clicks on your ad. The more you pay, the more your ad will be seen in competitive searches.
Conversely though, your objective is of course to keep this overhead as low as possible, so that you can maximize your profit margin.
You need to calculate exactly how much each customer is going to be worth to you: your 'Customer Lifetime Value' (CLV)!
That means identifying how much your visitors are worth to you both in the short term and in the long term – how many times does the average visitor buy once from you?
And how many times do they progress to the next stage in the funnel and buy a more expensive item from you? You need to calculate.
If you’re hoping to make money from any business, then by far the most important thing to consider is your targeting.
Think about it: if you can sell something to strangers who probably don’t have much money, it will be child’s play to sell to wealthy individuals who have already told you they want to buy!
Whether you're starting something new, want to optimize your work or focus on growing your business, here you can find actionable steps you can take to simplify your business and marketing online and off.