Best Product Creation - 3 Incredible Steps To Advance with Product Creation
A lot of marketers are creating products so they can be responsive to the growing needs of their potential clients.
However, as a marketer you also need to ensure that you will benefit from this endeavor by generating huge income and profit that can support your business.
Here are the 3 incredible steps to advance in product creation: 1.
Identify your target profits.
If you want to earn $20,000 per month, you should ditch the idea of selling $15 ebook as this will require you to sell more than 1,300 copies before you reach your target profit.
Match your goals with the price tags of your products.
That means, if you want to earn $20,000 a month, you should seriously consider offering your customers $200 CD series or advanced coaching programs.
2.
Know the buying power of your customers.
No matter how great is your new product, if your potential clients cannot afford it, you will surely not profit from this endeavor.
If you are leaning towards creating high ticket product, you should choose a target market that is known to spend cash.
For instance, people who love golf are known to buy expensive products that can help them improve their skill level on their sport.
3.
Create a product funnel.
If your customer base is composed of people with different buying powers, I suggest that you create series of products that will meet their needs and demands based on the money that they are willing to shell out.
For instance, you can offer inexpensive ebook to new marketers who would like to learn the ropes of internet marketing.
You can also offer high-end product like one-on-one coaching to your other clients who are looking for advanced tips and techniques that can help them advance in the same field.
However, as a marketer you also need to ensure that you will benefit from this endeavor by generating huge income and profit that can support your business.
Here are the 3 incredible steps to advance in product creation: 1.
Identify your target profits.
If you want to earn $20,000 per month, you should ditch the idea of selling $15 ebook as this will require you to sell more than 1,300 copies before you reach your target profit.
Match your goals with the price tags of your products.
That means, if you want to earn $20,000 a month, you should seriously consider offering your customers $200 CD series or advanced coaching programs.
2.
Know the buying power of your customers.
No matter how great is your new product, if your potential clients cannot afford it, you will surely not profit from this endeavor.
If you are leaning towards creating high ticket product, you should choose a target market that is known to spend cash.
For instance, people who love golf are known to buy expensive products that can help them improve their skill level on their sport.
3.
Create a product funnel.
If your customer base is composed of people with different buying powers, I suggest that you create series of products that will meet their needs and demands based on the money that they are willing to shell out.
For instance, you can offer inexpensive ebook to new marketers who would like to learn the ropes of internet marketing.
You can also offer high-end product like one-on-one coaching to your other clients who are looking for advanced tips and techniques that can help them advance in the same field.
Source...