Creating Your Own Online Product

There are many ways to make money online. Gurus are always selling their own techniques. If you listen to one piece of advice you’ll go in one direction. If you listen to another you’ll do something different. And of course, each teaches that the other person is wrong. But there is one thing they all agree on. And one thing they all engage in.

If you want to create real income you need to start by creating your own online product.

But why?

Why do you need to go to all the effort involved in creating your own online product? Not just once but many, many times? That’s a heck of a lot of effort. So why?

There are a number of other ways to make money online. You can:

1. Sell physical products

2. Sell other peoples products as an affiliate.

3. Sell ClickBank products.

4. Sell advertising space.

And that’s just a few of the major methods.

So why would selling online products be so profitable in comparison?

Let’s start by examining the other methods. Selling advertising space is one way to make a few extra dollars. But to make real big money you need a great deal of traffic. And traffic of that magnitude is difficult to get and expensive to service.

So what about affiliate and ClickBank marketing? In both cases, you are getting paid for your own efforts. And that’s it. Effectively, you aren’t running a business you’re a commission salesperson. And you’re being paid like a commission salesclerk. You can’t leverage other people’s efforts. At least with affiliate marketing you are typically supporting a high ticket, high commission product. With ClickBank you’re not even selling that.

That leaves physical products. Typically physical products are other people’s products — you’re just the retailer. And like most retailers you get a portion of the sale — and only a portion. But even when the product is your own you’re faced with two problems. Fulfillment and shipping. You either need to pay someone to handle fulfillment for you. Or you’re going to have to take the time out of your own busy schedule. And the product still needs to be shipped. So the costs to you are very high.

Your own online products on the other hand don’t have these issues. Yes, you have to create them. But you control the process. In fact, that’s the byword for online products — control.

You control the marketing. So if you want to sell all by yourself you get to keep all the commissions.

On the other hand, if you want to sell through affiliates you determine how much commission you will pay them for sales. Not only that but you get to decide what constitutes a sale. And you get to leverage other people’s efforts to enhance your income.

Traffic also isn’t the issue that it is with advertising. Yes, you need to attract traffic but it’s a reasonable level not an extremely high level as it needs to be with advertising.

Online products don’t require any effort or cost for fulfillment. Basically you put the product up on the web, connect your sales process and you’re done. So shipping and handling costs are a thing of the past. And the occasional decision to create a physical product from an online product as a marketing shake ’em up. And unlike physical products there is very little cost involved in packaging or keeping an inventory.

Strategies On Online Product Marketing

Just as it is in real-world marketing, there are many strategies in online product marketing. This is where most of the new online marketers make their primary mistake – they believe that the Internet is a separate market that follows a different approach.

Marketing a product on the Internet needs parallel strategies just as they need these same sales strategies in marketing products in the real world.

There may be other methods and styles of advertising now (Google AdSense, affiliate marketing, etc.) in the online world. However, these new approaches in selling a product cannot guarantee sales based on these new marketing techniques.

The following are some of the aspects you have to consider in doing online product marketing.

Competition

Know your product’s competitive advantage. Better yet, create one. How different is your product from the others? (More effective? More durable? Stronger? etc.) If you can’t find a unique competitive advantage, inventing one is the best solution.

To break through the fierce competition, your product must have a competitive edge over the others.

Niche / Specialty Market

Today, there is no more market for products that sports a one-size-fits-all quality. Your product must find its own niche – the right market where the target group is interested in your product. Scissors for left-handers sell better than regular ones, if marketed in the right niche.

Niche marketing also has the advantage of getting your product away from competition because it is regarded as a specialized one.

Right medium

Finding and using the right communications medium for your product is another important factor in online product marketing. You must know the right media to use in the marketing.

The communications medium should deliver the marketing message (including its competitive advantage) to the right customers. Whether it be a blog, a website or an online ad, the medium must serve to fit your product.

Opening a website with the plan of pushing your product online without any clear marketing message and planning (positioning, USP, target strategies, etc.) will not prosper very much.

Repetition

Just as it is in the real world, constant repetition is another important factor in selling. A marketing message that is reinforced by constant repetition has more chances of being retained in the market’s mind than those that are seldom seen and heard. (The success of products advertised constantly on TV proves that.)

After finding the right online medium for your product, ensure that the message is repeated enough times (and in different online media) to get programmed in the people’s minds to buy your products.

Message delivery

The forms of delivery of your marketing message are also crucial. The communication medium can be in the form of a blog, a dedicated website, display ads or some social networking sites.

One caution: Do not use one medium and exclude all the others. Today’s online media is in a unique form of network by themselves. You need to support the medium you are using with the available others using the unified message of your product’s competitive advantage.

A logo, however great-looking and effective by itself, is not sufficient to start a campaign on your product’s competitive advantage. It is nothing more than a visual tool, a component of your strategies on your online product marketing.

Finding the Best Value With Online Product Reviews

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.