The Best Foundation for Building your Product

So...you're interested in building your own product, but not sure where to begin?...  Your own product can be based on whatever it is you have knowledge of, be it web design, building Facebook Fan Pages or a blog, or even attracting a list, but there are a few basics that have been shown to be effective to make the foundation for your product.


For example...  Remember the show "24" that was such a great hit?  They had a basic concept that the show would be about 24 hours and each episode would be based on one hour in one day.   That was the foundation of the show.  From there, they waffled back and forth on the story-line of the show, from a romance to the final version of Jack Bauer racing against terrorist plots and presidential assassination attempts.


The same way, your product should have a foundation...a basic format to follow in developing it that has been shown to be successful.  From there, you can wrap your product around whatever area you know.  But let me caution you here - your product should be based on informing someone on "how to" do something...not based around something vague like "manifesting your dreams."


While this may be helpful, people have been shown to pay for marketing know-how, as opposed to ideas.  They want to know what to do with your business once they get it, and if you train them in marketing strategies you know, they'll be more likely to buy your product and more likely to join your business with the increased knowledge they'll gain from your product.


So the first thing for you to do is decide what very specific area you want to build your product around...like Facebook PPC, building a Facebook Fan Page, or developing a Twitter account.


Once you have your idea, you can flesh it out in a Word document and then save it as a PDF and sell as an E-book, or you can put it into a video.  Videos are the fastest, best selling products, and the best-selling videos are those with white pages and words on those pages hosted by you walking the person through your video.


So...let's assume you're going to make a video.  The best format is to first of all:


1.  Create 2 or 3  45-60 minute "click by click" show and tell videos that your customers will log into and watch.  These should feature you videoing your exact steps through the product.  ie: if you're walking them through building a Fan Page, then show them your Fan Page as you're going through the exact steps to build one.


Don't spend a lot on a nice title and logo for your product.  People are going to buy your products for the content...just concentrate on giving good content.


In module 1...it's best to concentrate first on the big picture and why your topic is important.  Here's where you build up the romance of your product and what it can do for them.  For example, if you're doing your training on building a great capture page, you'll first spend time telling them why it's important to have a good capture page, and the importance of having one to build a list and what having a list can do for them, why it's important to have a good opt-in form, and why it's important to have their page above the fold, etc.  Then take pictures of 4 or 5 other great capture pages and show them what makes them good pages.


In module 2, you can get more detailed.  You'll literally walk them through the process of creating a capture page step by step, showing them each step you take of building the Web Page, say in a Wordpress theme.  And you give them assignments...steps they need to take on their own, leading them to building their complete page at the end.  And here you can start plugging your affiliate business too.  Say your program offers good capture pages, you let them know there's a much easier way to get up their capture pages if they join you in your business.


You can even spend the last part of module 2, walking them through the quick set-up process of installing web pages with your affiliate business and tell them up front that if they would like to be a part of this section of the video first-hand, they can opt in to your business under you.  Or, say your videos are about setting up Facebook PPC, and you can require them to spend $50 on Facebook advertising, guaranteeing they'll have leads from it.


2.  Along with your videos, provide them with one or two "1 on 1" coaching sessions with you after they complete the videos.  This is your edge over the guru's, so this is very important.  Be specific in your coaching offers, so this can't be misunderstood or strung out for months.  For instance, offer them a 30-minute session by phone after they completed their capture page (as long as it's within 30 days following the purchase of your course) and you critique their page and help them overcome any technophobia's they have.


You can further this, by offering another 30-minute phone session with them for a discounted price of $25 after they have spent $50 on advertising for their page and you can then coach them through that for the small fee.  By doing things like this, you will help them so much you will build an army of people wanting to follow you and join your business.


3.  Accompany your videos with 1 or 2 bonuses that are loosely connected to your video content.  For example, if you're doing your training on developing capture pages, you can provide bonuses on how they can use Facebook PPC or E-zine articles, etc., to drive traffic to those capture pages.  Then they will have a whole system they can use along with your affiliate business and many will want to opt in with you at that point.


Or you can provide another 30-minute video where you review your favorite Direct Response Books or your 3 favorite motivational or business books, and explain why they meant a lot to you and what was going on in your life and how they helped change it, etc.  A lot of times, people will buy a product just for the bonuses.


4.  Throughout your videos, it's a good idea to weave into them ideas for your customers to go deeper, to purchase more coaching from you or join in with you on your affiliate business, etc.


And here's a good tip to upsell.  By the time you're done, many will want to take the next step and get more coaching with you, so you can tell people that you should sell your coaching for $497, but you're going to sell it to them for $297 instead so they can turn around and plug the extra $200 into advertising and then they'll get 3 more 30-minute sessions with you critiquing their campaign they are setting up with their advertising.  It creates good will and their desire to work with you.


5.  Price your product between $39.95 and $197.  Many attempts to sell similar products for cheaper (ie: $27 or even $17) failed to sell as many items as the same thing priced at $39.95.  So while you feel you may be doing your customers a service by selling them something at a low price, you will sell far more of your product if you price it right (at the $39.95 to $197 level).


Furthermore, research has shown that people will buy more often if the price ends in a 5 or a 7, so while you may feel like it makes sense to round the price up to $40 or $200, again, you'll lose sales by doing so.


6.  Sell your product through emails that describe your product in detail, or promote it on Twitter and Facebook and bring prospects to a web page that details EXACTLY what your prospect will get in the product they are purchasing.  They need to know what to expect, what will be required of them for the product, and what will they be learning.  Take away the fear for them of buying into the unknown.


For example, I have purchased a couple great products from a very well-known guru online, only to be surprised to learn that it's not the simple click and add product promoted, but instead, I needed to set up a web site first and actually know HTML before I could even use the product.  Needless to say, I don't purchase this "guru's" products now, as I learned that I may not know what to expect up front with them.


So be completely up front with your prospects with what they will need to have or know to use your videos and what to expect, and they'll learn to trust you even more.  If your prospect will need to put in some extra time learning HTML before he can even use your product or will need to spend up front on advertising or purchasing a web site to make your product work, let him know that.


But above all, let your prospects know how much better off they will be with your products...what they will learn and how much it will help them.


Hope this has been helpful...  I would love to hear any of your stories below about product creation...


To your success,
     Thea