By generating and selling online, such as Books, Manuals, CDs, and DVDs, there are a few kinds of approaches to choose from. You can either be creative or innovative Creative means, you examine the market and uncover a cool solution. Innovation is taking an current product and improving on it (adding a cyclone to a vacuum cleaner comes to mind). Ill cover innovation in more detail later.
Coming up with the right style can establish the success of your product launch. If you dont like to write or think you cant write, creating an online is about making available your knowledge, talents, and experiences. The material could be anything from Cooking, Financial Investing, Pet Care, to Diet, its your call. There are people who want your knowledge and expertise. The bottom line is your info-product should be zero in on a subject where you add value. As an example, I heard a video recently that referred to plans to build a chicken coop. Apparently a big money maker at the time.
In effect, it is coming up with an info-product that will solve an existing need. Let us say, you know that people have a problem with writing articles and then you put up something like a rewriter software.
Or let's say, if you observe that a lot of people are trying to set up their joint venture's details, you can produce a joint venture profile software. Essentially, you'll be the first person to sell in the market. Make sense?
The products you create will be yours to do with as you wish. There are different ways in which you can profit from your creation. You may form to Joint Venture (JV) with someone. In yout Joint Venture you would use your partner database of customers and you and your partner would share in the profits. Another approach is to have others sell your product for you, as in an affiliate program. In this case you will need to license other people to sell your product, but you be selling a non-exclusive license to several people (possibly 100). Depending on the product you may be able to sell each license for between $300 and $3,000.
Once you have created an info-product, you may choose to create more products that could increase your potential profit. Its potential profit because there are a few details you need to get right.
You need to create a product that people want, do your research. Selling something people want is a snap versus having to create a new demand, which will be expensive. Next your product should be presented in a professional way If it looks like some thing you tossed together it wont sell. You may want to get professional help with a logo and design graphic to create a one of a kind first impression. While Im on the subject of professional help, there are legel issue to address. You will want to trademark your product. You will want to run a trademark check on the title of your info-product. A helpful site is http://www.uspto.gov.
Additionally the quality of your product must be beyond reproach. If your quality is second-rate then your product will be tagged a scam. By creating a high quality product, the potential to get repeat business increases greatly. I read recently that most online products sell for approximately $20 or less. Accordingly to build a long term online product business you must get repeat business. The structure of your online product can help with repeat customers that structure supports upgrades and updates to keep your customers coming back, [as long as your product is high value add.
But if you want to lower your risk of failure and make money faster, I would want to be an innovator. Examine the existing products available to fulfill the demand of a market. Check how good the sales volume is. In that case, I would be an innovator to present improved solution or tap on the existing opportunity.
Let me explain If you happen to notice that there are loads of sales letter generator software right now in the market, it's because there are many innovative marketers. PayDotCom, a relatively new company, is another example of an innovator market that gives the same service as Clickbank.com
PayDotCom was create after the company Clickbank.com was launched Clickbank.com was the first website that gives credit card processing services with a built-in affiliate tracking program for online marketers to use. At the present, there are new innovative marketers that have presented an affiliate tracking tool that can be incorporated with other credit card processors like Paypal.com, 2checkout, authorize.net, and the like.
Innovative marketing isnt limited to duplicating what is successful and trying to be superior, bigger or cheaper. That's a very narrow observation on how to make money and it will normally fail. You will alter the entire profit model by adding these ingredients which are as follows:
1. Finding an angle which means positioning yourself differently from the pioneer. Example, Clickbank.com is a success. However other affiliate tracking tools that did not have a built-in credit card processor were very successful too, by integrating with third party credit card companies. PayDotCom is also another good example of this for they solve the core problem.
2. offer] an info-product that can ride on the existing successful market. Let's take Clickbank.com as a model for discussion purpose.Examples include: Software to manage your Clickbank.com affiliates; Software to pull-out your Clickbank sales report into a Microsoft Excel file; Software to create Clickbank.com search engine tool that is incorporated with Clickbank ID; Video tutorials on how to put-up Clickbank.com account; and so much more.
Check out what's happening on the internet. Decide whether you want to become a creative or innovative marketer. Then, TAKE ACTION!
