Step 1 - Review Your Product Strategy
Review your product strategy and decide what type of product and
what product model you will start with.
You may decide to start by selling other peoples products, until
you can get more of a feel for the market and can decide on your
- Informational Products
- Physical Drop Ship Products
- Subscription Products
- Service Referrals
- Buy & Sell Existing Products
- Sell the Products & Services of Others
- Provide & Sell Your Own Service
- Create & Sell Your Own Product
Questions you should answer include:
- Do you start with a subset or category of your traditional
- Have you accurate estimates on the market size and makeup?
- Is the product or service something that can be promoted online?
- Is there any exclusivity?
- Are there any copyright issues that need to be addressed?
- Can you turn a profit with this product?
- ID any legal issues to sell the product or service?
If you want to start with your own product - Develop Sub $97 front
end products Ebooks. Once that is complete, you can expand the content
to $1000+ back end products Audio, Seminars, Conferences.
Step 2 - Develop Product Sales Potential Profile
You have previously identified 'Your Hungry Target Market'
Now look more closely at that market in terms of products currently
available. Your aim is to get a sense of the products, the affiliates
sellling them, the commission paid etc.
- Select sites where bid in top 10 <$1.00
- Search Affiliate Sites for Interested partners
- Find Categories with low commissions <40%
- Develop offer with higher commission
- Develop 40% commission for recurring products
- Search for price differentiation potential - High and Low
- Consider developing product for Users of a Category
- Who are the targeted users - is there another niche market?
- Are any of the products suitable for back end products?
Step 3 - Survey Product Ideas
Chat Rooms, Discussions, Forums
Go to chat rooms, discussion groups and forums that focus on topics
related to the product you're considering. Post some questions as
to where people are buying the mattresses from, what challenges
there are (if any) in finding good quality foam mattresses, how
much they're paying for them, etc
Do an Online Survey of Interest in Product
Send a product survey to your target audience. Doing this is actually
easier and simpler than it sounds because there are countless survey
services that are available online -- some of them free of cost.
Many of them allow you to simply send out an e-mail, including a
link in the e-mail.
Find Out How Many Businesses are Currently Selling the Products/Services
You Plan to Sell
Review Number of Google keyword search results, sponsored links
and Google Adwords
Look for high-demand, high-profit products and services that are
fairly effortless to market via a website
Select ONE product and put together various product offerings
on multiple websites
Step 4 - Find Informational Products
Find Informational Products
Find Public Domain Copy
On Ebay - Type into search bar (how to, learn,
instructions) Look up Completed Options for this seller –
click on Advanced Search/Items by Seller/ Enter Sellers ID [Click
on Include completed listings for past 30 days}
Books for public domain books – independent book
dealers. Click on title and “find book”
The Public Domain Treasure Chest – can
get a copy of just about any book for free. Can borrow books through
Interlibrary Loan System
Articles with Reprint Rights -
BizWeb 2000 Articles with Reprint Rights
Protect yourself by searching Copyright - Perform copyright search
in 5 minutes
Step 5 - Find Physical Drop Ship Products
Drop Ship Directory - See Tim Knox Dropship Warehouse
Find Online Stores - Approach to Sell Their Goods/Improve
Search Yahoo Stores with Popular Goods - Find
which parts of their online stores are doing best.
Step 6 - Define the Product Sales Process
Depending upon the type of product, the sales process will be slightly
different. Consider the following:
- How Pre-Sales enquiries are managed
- Where & how the product is sourced
- Sales channels to be used
- Order process
- How payment is made by the customer for the product
- Delivery mechanism & process
- After sales service - who provides it
- How payment is made from the vendor to you
- Document Process Flow
- Document Process Actions
- Set Up Business Tools
- Set Up Marketing Tools
Not developing and implementing a sales process BEFORE launching
a product is one of the biggest mistakes most new Internet marketers
make. Don't be one of them.
Step 7 - Develop Product Content
Whether or not you are planning on selling your own product, you
still need to develop product and sales content. This includes:
- Product Reviews
- Sales Copy
- Advertisements - for PPC, ezines, email campaigns
Try to connect all copy components - Use a compilation of Article
Briefs, Review Briefs, Blog Briefs, Online Surveys and Feedback.
Develop templates for:
- Article Template
- Ad Template
- Website Template
- Newsletter Sign Up Page
Main WebSite or Adsense Site
- Index Page
- Article Page
- Product Review Page
- Sales Page
- Archive Page
- Site Map
MiniSite [Single Product Sales]
- Sales Letter
- Order Page
- Thankyou Page
- Download Page
- Bonus Offer Page
- Additonal Copy
All sites should include a legal disclaimer and privacy page.
Step 8 - Publish Product Content
- Create Product Development Project Plan
- Select Ebook Compiler
- Select an introductory subject with a broad appeal.
- Fit site’s theme and include links to main site.
IF FREE - Include the rights to free distribution.
Short paragraph on copyright and distribution that allows readers
to "feel free to give this free e-book to your visitors."
Create Physical Versions - CD's, Tapes, Manuals, Videos
Once you have developed a successful ebook, consider making a
CD or DVD product; (add an interview with an expert) and charge
more than DOUBLE that the ebook on the same topic.
Your higher priced product now makes higher profit margins, AND
you'll get the attention of MORE AFFILIATES as you are now able
to pay them a higher commission than your competitors.
This higher profit margin allows you to pay more for your PPC advertising,
which if well targeted, generates more profit.
- Create & Format Print Copy
- Create AV Files
- Send to Digital CDR for production - with Address Labels for
Fulfilment Company (CDs, DVDs production)
The production company forwards the product to your chosen Fulfilment
Company, for instance, Disk.com
Managing Orders And Customer Service
Using a fulfilment company offers the benefits:
- Orders are directly sent to fulfilment company
- Phone orders go direct to fulfilment company
- All customer service & returns are handled by the fulfilment
Create Product Bundles
Be creative with your bundles and your competitors cannot compete.
Price objections are also easily defended when your products and
services are bundled with additional added value.
Step 9 - Add-On Teleseminars And Webinar
Set Up Teleseminar Operations
- Create an MP3/real audio/Windows media version of your ebooks
- Use a Powerpoint service that allows you to control a live
slide or PowerPoint during a teleseminar.
Set Up Webinar Operations
- Email mailing list of upcoming webinar - Require a valid e-mail
address with the registration
- They send you an e-mail with the subject line “TeleClass
- You return details of the TeleClass. Include the correct time,
phone numbers, any pre-class reading or work and support information
in the e-mail.
NEXT: 5 - Develop Marketing...coming soon
BACK TO IM BMAP INDEX