Without, product creation is one of the most lucrative ways to make money online, and it’s quite possibly the best alternative to affiliate marketing in general. Additionally, product creation is comparatively easier than affiliate marketing, since the majority of the job online involves the product creation process and affiliate recruitment.
However, many Internet marketers consider product creation to be a daunting and time-consuming task. The reality, however, is that creating a product in any niche is both simple and quick (provided that you’re knowledgeable about the subject).
Here’s a basic overview of two of the ways you can go about creating your product:
Outsourcing The Entire Process
If you look around for a couple hours, you’ll find hundreds (if not thousands) of services that promise the world – they’ll create an amazing product, write the sales copy, and even set up the sales funnel.
All you have to do is sit back and let the sales come in.
Those types of services however, will easily run you up into thousands of dollars, if not into tens of thousands. It’s also a bit of a hassle working through the scams and the legit services. So-called “testimonials” can be fabricated out of thin air, y’know.
Creating Your Own Product Yourself
If you don’t have the money to outsource product creation, then here’s a look at what you CAN do – creating the product by your very own lonesome. We’ll be focusing on this process for the remainder of the blog post.
Remember that even though there is no real monetary investment, there’s still a rather large time commitment to make. Additionally, creating your own product by yourself is a rather difficult, frustrating, and pain-in-the-neck process – take it from someone who knows.
Once you’ve got the product ready and up for sale however, you’ll find that it’s all worth it.
Picking Your Niche
If you already have an existing blog/website and you want to add a product to it, then you already know what niche you’ll be going into. If you’ve never been online before and you’re just now starting out into a brand-new niche with a brand-new site, then you’re in for at least a day or two of research.
The basic rule (when you create a product yourself) is to go into a niche that you’re knowledgeable in and that you already know a lot about. This shortens the research time, and it simply makes your product better. Additionally, potential customers are more likely to convert when they see that you know what you’re talking about.
If there’s a problem that people need a solution to, then you need to find out that solution, package it, and sell it. That’s the basic beans of how Internet marketing works – there’s a problem, and people come to you with their money for the solution.
Researching Your Niche
After picking your niche, you still have to conduct heavy research to find out what people are afraid of and what problems they have. A good way to find out some of the problems you could potentially solve is to get out a blank piece of paper and list the goals (what they want to achieve) and fears (what they’re afraid of) of people in your niche.
Here’s an example of what it would look like in a sports related niche, basketball, for example.
- Making the high school team.
- Making the college division 1 team.
- Making the NBA, FIBA or some other professional league.
- Winning games (duh…).
- Getting better at shooting.
- Getting better at dribbling.
- Getting better at passing.
- Excelling in a certain position (point/shooting guard, small/power forward, or center).
- Being cut from a team.
- Losing against a rival.
- Disappointing the coach.
First of all, you’ll have to decide if you want to go for a goal or a fear. With goals, you’ll have to research and find a way for your target market to achieve a specific goal. If you go for a fear, you’ll have to find a solution to stop them from reaching the point of fear.
Usually, researching and finding the solution to a fear can be more lucrative. People are more likely to spend money to stop something bad, rather than to get something good. In their eyes, it’s best to stop the “bad” thing first, and they’re more than likely to be very willing to spend a good deal of money on it.
For the purposes of this blog post, we’ll be selecting a goal as an example for the rest of the post – getting better at shooting.
Deciding On The Product Medium
The minute I mentioned “product”, most of you were probably thinking PDF report.
PDFs are often the most simple product to create. If your priority is time, then you should go with a written report. There’s no denying that plain text can change the world…and your bank account. Most of the digital products purchased on the Internet are PDFs.
We’ll be going for a PDF as well. We’ve decided on the goal we’re pursuing – getting better at shooting – so now it’s time to actually research a solution to help our target market reach their goal as fast as possible.
Researching A Solution
Although video products almost always work better in sports niches, we can attempt a PDF all the same.
In the PDF, we’ll discuss three important components of a perfect shot – mindset and form. Especially since mindset is not something commonly associated with digital sports products, it has the potential to do well, since there is very little/no competition for it.
At this point, your product and this product will differ. You’ll have to decide whatever way you want to research your product – there’s no one-size-fits-all solution.
To keep it quick, I recommend using the Internet for most of your research, as well as past products in the same niche. By NO MEANS should you steal any content from a different product, but it’s perfectly fine to base a few of your concepts on those found in another product.
Testing Your Solution
Without evidence that it works, your solution is meaningless – your customers are likely to think that you’ve just fabricated the entire thing out of nowhere (especially when you consider what all happens on the Internet today).
Simply put, your product is unreliable, untested, and inaccurate at best when you haven’t gone the extra lengths to test it, or contact people who have.
If, for some reason, you can’t conduct a case study of your solution yourself, do your best to find someone who has or who can. Partner with them, and ask them if you can use their results in your book (with attribution and/or payment).
If you do have the means and the time to conduct a comprehensive test of your solution, do so. Make sure that the test occurs in a controlled environment – no extraneous, uncontrollable variables should hijack your results. Take all the steps necessary to make your case study as comprehensive as possible.
With our example, we can take a poor basketball shooter and train him using our newfound techniques. We’ll track his progress day-to-day, week-to-week, and month-to-month. We’ll see what worked and what didn’t.
Lastly, modify your solution to accommodate your research. If you got it right the first time around, congratulations! You’re one of the few people that do so.
Getting Your Product Reviewed
This step is probably the most important one, out of all of them. Most newbie Internet marketers are eager to get their product out there and available for people to buy. You’ve done your research and you know you’re right and you know that you’ve got a good product. Trouble is, your customers don’t know that.
Particularly if you don’t have a proven track record to back you up and/or vast experience in your niche backed up by other experts, then customers are likely to look at you as “just another marketer” trying to separate them and their hard-earned cash.
Get other people to review your product – established professionals with names that carry a bit of weight. Pitch to them, and ask them to take a look at your product (give them a free copy, of course), critique its mistakes, and provide a solid testimonial you can include in your sales copy.
Be sure NOT to ask people in your target market to review your product – that’s just the loss of a potential customer. Only give free copies to people in your field who don’t need your product – ones that WON’T buy from you in any case.
In our case, we would contact major training basketball “gurus”, such as Ganon Baker, Jon Hildebrandt, and we might even go as far as to contact an NBA coach or player. Any guru we can find, we pitch to.
Writing Effective Copy
Beyond the shadow of a doubt, the ability to move people with your words to purchase something they want is THE most powerful marketing skill you could ever learn. Leave everything else alone – if you can only learn one thing, learn copywriting.
If you don’t have the time to learn it though, outsource it. Be forewarned – a quality copywriter will cost you $1,000, in the very least. The top-of-the-line ones who can really get your product sales can go up into the five figure numbers, easily.
However, if you don’t either outsource or write effective copy, your product is sunk, no matter how many experts have reviewed it, no matter how comprehensive your testing methods were, no matter how awesome you think you product is, it will not sell without effective copy.
Also realize that professional copywriters will take quite a bit of time on your copy – you can’t rush the process. Depending on the product, it could take anywhere from a few days to a few weeks to get everything perfect.
Set up your “buy now” buttons. Create as much social buzz as you can around your product and … launch it!
Publish your product, make it available for sale, and get that bank account filling up!