I was recently asked by one of the subscribers to my coaching program the following question. “Ken, you talk about marketing over and over and you give us great ideas on how to sell our products or services, but I’ve seen some products out there that just don’t fulfill their promises. Do you have any suggestions for us?”
I have to agree with this question. I’ve seen many a product that didn’t perform as it promised.
Let me suggest some factors to consider. I’m going to list them in what I feel is the order of importance, but you might disagree with me. That is cool also.
- Product Quality: Does your product solve someone’s problem or offer a benefit in a high-quality way? If not, stop. Kill the product. Believe me, everything becomes a lot easier when you are selling a great product.
- Consider the competition: Don’t ever enter a crowded field unless you have some kind of a unique edge, what I call a Unique Selling Proposition (USP).
- Market size: Wide appeal is great, but the internet is ideal for niche products, as long as that market is on the internet in sufficient numbers.
- Can your product be promoted at low or no cost?
- Profit/Margin Pricing: Even though the cost of doing business on the web is low, a product with a great profit margin is still a wonderful product to sell.
- Advantage for your customer to buy online. Is there an advantage to the customer to buy via the web? For example: availability, price, convenience, or speed of delivery.
- Potential for Repeat Purchase: Your product should have the potential for repeat purchasing. This to me is a very important thing. It takes a lot to create a customer, but once you’ve got them as a customer, you should get them to purchase more and more from you.
- Fun for you: Does selling the product give you pleasure? Your online marketing efforts will take a lot of your time and effort. If you enjoy what you are selling or doing, time and creativity both come much easier.
I’ve put fun last because it is such a special consideration that I didn’t know where to rank it. For you hardcore sales professionals, “fun” may not matter. But for the person marketing something that is a “Labor of Love” fun should be ranked at the top.
If you can give all of the above factors a perfect score, you should be set and with the many strategies and concepts I share with you, it will become a labor of love for you also.
Always remember. If a product is not solid and you are not having fun selling it, everything else becomes 100 times harder.
Well, that’s it for this issue. Next time I’ll write about another solution to problems you might be having and how to reverse them. If you need step-by-step instructions on how to implement this and other ideas I give on creating customers. Please go to www.buildyourbusinessfast.com and sign up for my one-on-one coaching program.
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