Product Creation Tips – Why Procrastination Can Kill Your Success

Making the decision to create a new product for your business is a BIG decision! Nevertheless, it is important not to delay whenever any new idea surfaces. In other words, you’ve to act fast when fresh new imaginative ideas come into your mind. Once you’ve done your due diligence and you feel your product idea will work, quickly test it on the market.

How do you this? You simply create a product quickly and start selling it. If it sells, what you will do is improve the product and then launch it properly. This way, instead of wasting time creating a ‘perfect’ product that may or may not sell, you quickly put your idea to the test in the real world and see if it will float.

Quick testing is one of the reasons why you must not procrastinate on great product ideas. The quicker you can test, the quicker you fail, which will allow you to move on to other ideas quicker. If you test quickly, it does not need any mentioning that you will also succeed far quicker because you are getting more ideas out there so you are bound to find that ‘million dollar idea’ that you can use to launch your business or add to your product line.

And that is why procrastination can kill your success. Money loves speed and speed loves money. Act quickly on your ideas and don’t be afraid to test them out. Use pay per click ads. Post a forum special offer. Send a mailing to your subscribers list and your customers list. If your product sells, launch it fully to the market and create a full-on assault marketing campaign on it.

Niche Marketing – Can You Select The Most Profitable Keyword Group, Before Launch?

In a previous article, I wrote about how it is necessary to segment the markets described by different keyword groups, and survey them all, while combining similar ones, in keeping with Dr Livingston’s methods.

The next step is for you to decide which keyword group represents profitable sales, even before entering the market. You may be skeptical, but there is a way to do this.

Separating these keyword groups will help you to start catering to the more profitable ones, right away. And postpone handling riskier ones (the ones you need to expend more effort on), till later. You may tackle them after you have documented how well the more profitable groups react.

How do you decide which keyword groups — representing maximum sales in your market of choice — you should launch with?

You have the responding group of people taking a survey. You track these people, so that you know which keyword group a respondent came from. It is a fact that the more willing people are to take a survey, the more willing they will be to continue the relationship (opt onto your e-list, or sign up for your newsletter). And the more likely they will eventually buy a product from you.

Of course, you must write good sales copy for this promotion, but you will be able to do this by lifting the language from the respondents’ survey answers. And anywhere from 5 to 10 % of this profitable group could finally ending up buying your product. And you can do all this without selling anything, without even designing a product. All you have to do is survey the target group, and tabulate and calculate the results with a simple Excel spreadsheet.

Then, there is a group called Hyper Responsive Buyers, who buy a lot from you. They typically represent 5 % of your market, but contribute more than 50 % to your sales. These people are an important segment of your market. You would do well to talk to them and get to know everything about them. So that your bottom line goes up eventually, and most significantly.

For instance, your survey may reveal that some of the people making a particular mention in their response are 20 times more likely to sign up for a continuity program, such as a cholesterol medication. By making a telephone call to such people, you can squeeze out everything about them and make sure they buy from you.

So, coming back to the point, the key to good business is getting to know 100 % of a customer’s concerns and needs. Though most marketers understand this, they fall far short of the intensity of information gathering required. So you will be the one to have maximum information about the customer – and you will be the one to sell the products and leave your competitors far behind.

Working on Multiple Info-Products Simultaneously – Delaying Revenue Generation From Any of Them

Oh, if I only had as many minutes in a day as I have great ideas.

Here is what typically happens to many information marketers when they’re first starting out. They do some research and determine they have viable products they can develop in multiple markets. So they begin writing an eBook or developing a course on chinchilla farming, raising cacti, earthworms, and who knows what else all at the same time.

Their thought process is like this. “I’ll just work a little each day on each of my eight projects, and before long, I’ll have a great big library of information products that I’ll be making money on.”

So they work a little while each day on their chinchilla-farming book. Then they switch over to their book on raising cacti. After a while, they tire of that, so they begin some work on their great new eBook on earthworms. And so on and so on.

By utilizing this approach, you delay the completion of any individual project for some period of time. So nothing is making you any money because everything is still in a state of development. If each project takes a month to complete, you’re effectively delaying any possible revenue inflow until at least four months down the road if you’re working on four projects simultaneously.

And, invariably, something that you think will take a week ends up taking two or more. So maybe those four months becomes six or seven or eight. You are hemorrhaging cash, and nothing is coming in.

What is a better plan? Focus on one and get it done. Get it out in the market to begin generating you revenue. Then move on to the second project and repeat the process. That way you have one project generating revenue after month one, another generating revenue after month two, another generating revenue after month three, etc.. No waiting until month four to get anything coming in at all.

That is if you’re doing all the work yourself. Experienced information marketers know they don’t have to do all the product creation themselves. They use ghostwriters and other resources to help them generate more products more quickly. This is where you want to get to. Just be sure when you’re starting out you don’t get sucked into the multiple project trap.