There has never been a more exciting and profitable time to create your own online product. Breakthroughs in the costs of software, broadband, online hosting, and teleconferencing combined with the explosion of internet sales, makes it easier than ever before for any entrepreneur to create their own products.
Why is it important to have your own product on the internet?
Imagine this, you open your email first thing in the morning and you see ten new orders; one from Switzerland, one from Australia and a dozen from all over the United States. All for the product you just recently made available on the Web. It’s 7 a.m., you’re still sipping your first cup of coffee and only half awake, and already it’s been a very profitable day.
While this scenario may seem more like a dream than reality to you right now, it’s entirely possible to achieve and it’s much easier to do than you might imagine. Besides starting each day with a big, Cheshire Cat grin, and dollar signs floating through your mind’s eye, there are numerous other benefits to having a product available on the web. Here are ten:
1. Positions you as an expert – Perception is everything on the internet and the creation of your own product results in positioning you as an expert and is a critical step in generating new business.
2. Builds your brand identity – Your product represents you and your business in the marketplace, and making it available on the Web is the first step toward getting your product into more hands, heads, and homes.
3. Reaches a global marketplace – Having a product available on the Web means that you’ve expanded your geographic marketplace from local neighborhoods where your product sits on a shelf, to the entire world via your website.
4. Creates a 24/7, passive revenue, profit machine – The Web never sleeps which means that you can literally turn your computer and website into a cash register around the clock, and many, if not all, of the processes can be automated.
5. Levels the playing field – In the past, the entrepreneur or small business owner was unable to compete with the larger companies which could afford to mass market products. The Web makes it possible for even the smallest of businesses to compete.
6. Instantly increases the effectiveness of your sales cycle – This is especially critical for service professionals. Often a consumer will opt to purchase a product as a trial before deciding to purchase your service. Having a quality product available on the Web allows them to get to know a bit more about you and what you have to offer.
In addition to the great benefits listed above, which apply to any online product, there are several more which apply specifically to information products and make them an even more attractive choice.
7. Greater cost-effectiveness – Since traditional production and distribution is unnecessary, your costs are significantly reduced and your margin for profit is significantly increased.
8. Increase your speed to market – While it might take months or years to get a hardbound book written, edited, published, produced, and distributed to book stores, you can deliver the same content in the format of an ebook and bring it into the world in a matter of days or weeks instead.
9. Content can be leveraged in several formats – The same content can be presented in several different formats; as an ebook, an ecourse, a teleclass, a home study course, and the list goes on and on.
10. Opportunity for bold self-expression and learning – The Web allows you to get your message to millions simultaneously while at the same time offering you the opportunity to learn in action as you challenge yourself to create something totally unique.
Even better, with the advent of automation, it’s never been easier to automate the entire sales and distribution of your product, providing you with a passive stream of income while you sleep. It’s an incredible opportunity for entrepreneurs and small business owners to create an arsenal of online products on virtually a shoestring budget.
Adapted from Success Secrets of the Online Marketing Superstars Chapter 23 Mitch Meyerson and Michael Port
If you want to work with our product creation team in our annual 8 week Intensive starting Feb 18 you can get all the details here :
Mitch Meyerson is the Founder of Guerrilla Marketing Coaching and the author or 11 books including Mastering Online Marketing, Success Secrets Of The Social Media Superstars, Guerrilla Marketing On The Internet and Six Keys To Creating The Life You Desire