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Month: October 2018

The Life Cycle of Online Products

Posted on October 26, 2018 in Uncategorized

Like many things, products go through a cycle during their effective lifespan. These cycles are regular and predictable. A formal life cycle can help build an understanding of the pattern of stages that a product goes through.

There are many different life cycles each based on the focus and pattern, which the author is observing. In this article, I’m going to share a very detailed nine-step life cycle of an online product.

1. Plan

A good online product begins with a plan. The plan details much of the background information required for the online product. However, only the requirements for the product are provided.

2. Design

In this stage, the requirements are given form. The online product that was described in the plan is defined in detail. A detailed outline of the product is produced.

3. Produce

This stage varies depending on the media of the online product. For example, an eBook is written at this stage. A teleseminar on the other hand may be written but it definitely is presented and recorded.

4. Package or Publish

The online product is still in a rough state at the start of this stage — although it is in fact complete. This stage polishes the product and adds elements that turn it into a professional, salable product. For example, a video will have opening and closing credits added and a cover designed.

5. Generating Traffic

At this stage, the product is available. However, sales are not actually occurring. Instead, traffic must be generated in order to ensure that sales are sufficient to justify the costs so far. This is often referred to as a pre-launch stage although it can occur after the launch.

6. Marketing and Selling

At this stage, the product is available and the traffic has reached a stable point. Sales are reasonably stable. In this stage, the marketing emphasis has switched to finding the right types of traffic, rather than the growth focus of the previous stage.

7. Declining Sales

After a period of time, almost all products begin to experience a decline in sales. This may be because of market saturation or real or perceived obsolescence.

8. Bonus

Finally, the sales have dropped to the point that marketing and sales efforts fail to produce sales. At this point, the product is retired from sales. However, it becomes available for use as a bonus to support the sales of other products.

9. Retirement

Eventually, a product will cease to be of value even as a bonus. At this point, the product will be removed from the products for sale list.

Finding the Best Value With Online Product Reviews

Posted on October 25, 2018 in Uncategorized

When you are planning to buy an item or product, a common gesture done by most consumers is to ask their friend or family members for opinion about a given product before buying to generate information.This applies for all type of products,whether it be appliances,clothing, or any other items. Anyone wants to gain more information about a certain product before they go on to pay for it. same thing applicable for online product reviews are the best tool that online shoppers can use to help them out in finding the best product out there.

If you have tried online shopping before, you probably have noticed a star rating provided next to each product as you are browsing through your possible options. Although not all online shops offer this feature, most of them do and you have to take advantage of this feature. In most cases, those ratings provide direct link to online product reviews that you can read to gather information about a product and learn what others’ opinion of the product is.

Although these reviews provide valuable information about a certain product, you must not take 100 percent of the information as it is. Most of the reviews written for products found online are legitimate, such that they are written by industry experts who have tested the product or consumers who bought and have tried it. You need to be wary about fake reviews though that were written with product promotion as its hidden agenda. These types of reviews provide positive assessment of the website and serve to shadow the negative features just to convince buyers to purchase it. It is therefore important to have an idea of what to look for in a given product before heading out to do your online shopping.

Although they are of help, star ratings placed next to the product do not offer anything. You can be more confident with reviews written by actual users or consumers of the product. It will provide a more realistic and effective insight into the product, especially issues concerning user functionality. Going back to the above statement, knowing what your needs are and specific characteristics that you want, reviews you read can potentially impact your buying information based on your buying priorities and intended use. You have to admit it; product descriptions provided in online shops do not offer much, so these online product reviews should be generated to the fullest.

To conclude, online product reviews enable the consumer to identify the advantages and disadvantages of buying a certain product. Hence, many online merchants have invested on the business of writing reviews knowing how much it affects the buying decision of certain individuals. Indeed, they double as a promotional or marketing strategy knowing that consumers rely on the validity of information provided to ensure that they have made a great choice.

Online Product Creation Strategy

Posted on October 24, 2018 in Uncategorized

This article will talk about one successful online strategy based on product creation. Online products usually refer to ebooks, audios and videos that can be delivered and downloaded via the internet. Other online products involve software programs such as a sales letter generator.

Most successful online businesses are structured like a funnel which requires a range of products. Just like a funnel you might use in the kitchen or garden to fill containers with narrow necks, it is wide at one end and narrow at the other. At the wide end you would have at least one low cost or free product which you use to entice people to sign up to your email list and/or a webinar. Then you need to have a range of entry level products, usually priced between $37 and $97, that you would promote via your email list or webinar. Next you want to invite your customers to buy mid-priced products, or services, such as a home study course. At the narrowest end you would offer high ticket products and services such as a mastermind group or even 1-1 support and training.

This might seem like a daunting prospect if you have yet to even create your first product. The secret is to take it one step at a time and break it down into chunks. However you will need to be consistent in creating new and improved products on a regular basis if you want to keep your business growing and up to date.

One way to approach the task is to set aside some time to brainstorm and capture all that you feel your ideal clients would need to be successful in your niche. So if, for example, your business is about helping people to lose weight then what would they need to know and do according to your philosophy in order to achieve their desired result. This is a process that you should do over a number of days as you will find additional ideas will emerge at the most unusual moments. This will form the basis of the top level products, courses and membership programmes.

Then it’s a case of splitting these ideas up into natural groups which would indicate the mid-priced products you would offer. Then break down these products still further to determine what your entry level products would be about. Finally you would take just one aspect of your entry level product to use for your low cost or giveaway product.

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