How To Create Your Own Products

How To Create Your Own Products P R O F I T T I P S . N E T P R E S E N T S . . .
Internet Marketing Report
by Simon Grabowski


How To Create Your Own Products




Don't be scared by the idea of creating your own product. Instead think about the benefits of developing and marketing your own product or service. Improved financial status. Peace of mind. More time to spend with your family. All this can happen to you. Not to mention tremendous fun of promoting your own work. Getting excited?

Become an expert at something

Everyone's good at something and I am sure that you too have a lot to say about a particular subject. And it really doesn't matter if it's baseball, or rocket science - the bottom line is that you can easily create your own products and then market them like crazy.

Just sit down and recall everything you know about your area of expertise. Now pick up a pencil and a piece of paper. Write 10 product ideas related to your experience, hobbies, interests and background. This is important. You must have passion for what you do. If you don't, you're not likely to succeed.

Not an authority yet? Become one!

And if you feel you're not an authority on any subject, don't worry. Thanks to the Internet, you can easily become an expert by spending some time and digesting all the information you can find on the subject. Try searching on http://www.edithroman.com (one of the oldest and largest list brokerages in the U.S.) or a search engine. I recommend http://www.google.com - it provides relevant results.

Don't be the first, be the best!

Browse the Web. See what others are selling. Create a similar product, only better. As simple as that. This technique is called copy-cat and is extremelly effective. You don't have to reinvent the wheel. Look what others are marketing and do better than them. I am not encouraging you to violate copyrights and steal someone's work. You have to develop your own terrific product, with unique benefits and unbelievable value.

Important Questions

I'll assume that you've written at least 10 product ideas. Below you'll find a list of 5 questions. Run every product idea through that list.

Will the product be valuable to my prospects?
Will your customers feel that they've gotten more than their money's worth from your product? If not, don't bother. Such a product will waste your reputation. Your customers will feel cheated and you'll never get repeat business. And without repeat business you'll fail.
Will the information I provide be genuine and honest?
One of my customers (mind you, newbie to Internet Marketing) createdd a "How To Become A Millionaire On The Internet" guide. She hardly got any sales and asked me what she was doing wrong. I told her that information she was providing wasn't sincere. She wasn't making any money online, yet she wanted to teach others how to do it big time. That's not a good business. Never ever do such a thing. Always provide genuine information. Your customers will detect if you're dishonest and will move their business elsewhere.
Will I enjoy developing and marketing the product?
I am stressing this again: your product idea should be related to your experience, hobbies, interests and background. You must feel the passion for what you're doing, else you'll use interest. Do what you love and the money will follow.
Is there a demand for the product?
Face it. Without a demand your product will flop. Your product needs to be more than something you know. You must offer something that people desire. Find out what people want before you develop your product. Don't make the common mistake by creating the product first and looking for its market later. Identifying your target market is absolutely essential. Make no mistake - you don't want to create a product and then see if anyone is willing to buy it. You want to find out what people really want. Once you do, move in and go for the kill! People will be more than happy to buy if your product is what they want.
Without making any moral judgements, let's think about thousands of porn websites on the Internet. The reason for their abundance

It's easier than you think!

Creating your own product is easier than you think. You should be able to develop your own information product in less than 30 hours. Just pick up keyboard and start typing! If you don't consider yourself a great writer, don't worry! Make sure that your sentences are short and crisp - this will drastically reduce number of grammar mistakes. In either case you'll have a chance to proof read your content later.

And if you do it right - it will be very rewarding.

Identify your target market

Several aeons ago when the Internet was very small the advertisers had a very good idea who they were targeting. Vast majority of Internet users were male and possessed a high income and good education. Like it or not - these times are gone for good.

If you are to succeed on the Internet, you must identify your niche and gather intelligence to learn all about your target market. Once you do that, you can greatly increase your profits by providing what they want, and not what you have in store.

The simplest and easiest technique to define your audience and identify your target market is to put yourself in shoes of people who are interested in purchasing your product or service. Use your imagination to visualize your preferred customer and write down as much as you know about him/her.

You can start by asking yourself these questions:

How old are they?
Did you know that the number of women using the Internet has risen dramatically in recent months? A study by NetSmart America shows that 58% of new Internet users in the US are women (up from 44% a year ago). This trend is likely to continue.

What is their gender?
If you plan to market your product or service to a specific age group, you should consider shifting current content to meet expectations and interests of that particular group. The Internet has always been attractive to youthful users, but senior citizens with an abundance of time and money are a market with a huge potential. A study by Greenfield Central shows that, contrary what most people think, most online seniors are comfortable with making purchases over the Internet (92% have shopped and 78% have purchased!). Online senior shoppers usually buy computer software (43%) and hardware (24%), books (43%), music CDs (29%) and drugs (27%).

How much do they earn?
I've mentioned it before and I'll repeat it again: you must find a target market with money to spend. If you're marketing luxurious items, it doesn't make sense to spend advertising dollars to get college students to your website. Instead, you'll be much better off focusing on richer audience, like businessmen, bankers etc.

How and where can you find them?
What offline publications do they read? What are their gathering places on the Internet? What newsletters/ezines are do they subscribe? Are there particular discussion boards/forums/Usenet newsgroups they participate in? Answering these questions may not only help you to create better products (by learning more about your preferred customers and their problems), but it will also give you an idea where to put your ad dollars.

Where are they from?
What are their hobbies?
What are their exact problems that your product/service solves?
... the list of questions goes on and on.
Don't stop until you've got a profile of a living customer that is so real and convincing, that you can see that person standing in front of you.

I can hear you crying: - Why all this? What's the use?!

The reason for all this is that there is not point in telling the whole world about your product or service. Besides, you probably can't afford it (nor can I). What you can and should do however, is selectively identify those of your potential customers who are most likely to buy.

Would you nuke entire city simply because your neighbors pissed you off? No? Why not? That'd be a waste of energy, resources and a bunch of good people who live in that city. Targeting your neighbors alone is another story, though.

And that's exactly what niche marketing is about: finding your target market (people who are most likely to be interested in purchasing your product) and striking at them - making them buy your product or service. See my point?

If you focus on your niche, your leads will be of much better 'quality' - your potential customers will be more likely to purchase your product or service.

Don't try to be "everything to everyone". Narrow down your marketing efforts to a carefully selected niche and see your Internet profits soar!



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