The trick to effective product creation is to offer something that is simple and inexpensive for you to create, but is also highly perceived as valuable for your ideal customer.
Your product should be something that is drop-dead easy for you to create. A product you can whip up out of something you’ve already created. A stand-alone component of a larger program. Something you find so easy, you could do it in your sleep. However, it should always feel like a richly beneficial treat to your customer.
Before you create any product, know your basic reasons: Why, who, how and what.
Why create that particular offer? Why set it at that particular price point? Who are you aiming to attract? What big benefit will this particular offer give you? How is this going to work?Before you create any product, know your basic reasons: Why, who, how and what. Click To Tweet
A few reasons to create products are:
- Quick cash generation
- Creation a constant flow of passive income
- Getting people to try out your offerings
Most of all, these offers shouldn’t be treated as isolated, stand-alone offerings. They should constitute a carefully thought out part of your whole sales funnel, with their own unique role and place.
It’s important to keep in mind that your product presents a no-risk way for people to sample what you do. It creates buyers, not just subscribers.
It’s a huge step between subscriber and buyer. But once someone has taken that step (and been delighted with the quality of what you deliver) the next item you promote will be easier to sell because they are now in a relationship with you and your products.
Your product should make them say, “Wow, that product was all that it promised! I can’t wait to try the next step.”
Below are four highly-effective, low-end products that you can create:
An ebook makes a perfect product especially if it gives a working version of your ‘signature’ program.
Use the book to teach people how to achieve something they want.
Something that will enable those who can’t yet afford your signature program to take a step up on their journey.
Their reaction when they finish your book should be, “Hey, this WORKED! I want MORE!”
But that’s just one benefit. An ebook can…
- show you as an expert
- be used as a gift/bonus for those who purchase your higher-end programs
- be used for lead generation
- can be quietly representing you night and day, even while you sleep
- be a resource for those already skilled in your area of expertise
You can teach one simple, specific thing that relates to your niche or you can write a whole sequence of books on a single topic. Series books are very popular.
With a little imagination and strategy, you can make your book(s) work tirelessly behind the scenes to build your reputation, reinforce your brand and generate cash.
Planners and Workbooks
Creating planners and workbooks can take your workshops, webinars and courses from good to great. These useful tools take your information from theoretical to personal and practical. What it does is help your customers get tangible, measurable results.
Another great way to use planners, checklists, worksheets or workbooks is to create a resource library with these products for your customers.
Or you could grow your mailing list by setting up a landing page offering to give away this content in exchange for your customer’s email address.
Workbooks, planners, checklists or templates can make wonderful sign-up incentives if you create one that helps your ideal subscriber get a task done and/or save time.
Canva is a great tool for creating these types of printables. Canva is an online program that lets you create and design images like a pro. I use the beautiful templates and fonts in Canva to create my own images.
Online education is a booming business these days (especially now with the Covid-19 pandemic).
You can create an online course for just about any niche as long as you are providing value and teaching something useful to your audience.You can create an online course for just about any niche as long as you are providing value and teaching something useful to your audience. Click To Tweet
Video is extremely popular and the most effective format for delivering educational information online, so try to include videos in your course as much as possible. One of my favorite clients is a pro when it comes to creating video and online courses. Please check out Lon Naylor’s website at Screencast Video Capture.
Recurring Revenue Products
Perhaps one of the most important uses for products is in generating recurring revenue. You can use them as free or paid content for the following recurring income models:
- Membership sites
- Private groups
- On-demand, evergreen courses
- 30-day Challenges
You can store all your past content behind a password protected page and charge people a recurring monthly membership fee to access all your content.
In conclusion, you can easily create your own product and make money from it. Just keep in mind that the key to any successful product is that it solves a problem for your ideal audience.
Are you ready to give one (or more) of these suggested products a try? Which one sounds like the best option for you? Please share your thoughts in the comments below.
Hi and welcome to Virtually Done. I’m Leslie and it’s a pleasure to meet you! If you are an online entrepreneur or small business owner struggling to find enough time in your day to concentrate on the tasks you are passionate about, I can help you!
If you would like to learn more, please contact me. I’d love to hear from you!