08 Mar Product Creation Secrets 6: How to Determine Your Products Purpose
Product Creation Secrets 6 (Article) – By Paul Barrs.
Just because we’re talking about “product creation” here doesn’t automatically mean that it’s the type of product that has to be “purchased”, does it? You’re reading these articles aren’t you… where are you reading it, on a website, in a Blog, in an eBook? To gain access to this information you didn’t have to pay anything at all – so it can also be with your product.
The final step before you actually start your product creation plan (and I am talking specifically about eProducts at the moment), is for you to determine its purpose.
Are you going to use your product to generate cash or are you going to use it generate leads? While you think that there are more choices than that, if you’re in the business of running a business then there are not. Do not go creating some product just because you want have an ego trip – create it for a purpose.
Product creation is more than just buy, buy, buy – sell, sell, sell.
Income Opportunity – this is the most simplistic purpose of the two and really doesn’t require any explanation at all. You’ve come up with an idea, you’ve done your research to determine its validity – and you’re ready to put it together. Your goal is to have people pay for it. Simple. Easy. Uncomplicated.
But what about the back-end? What about the inbuilt referral program? What about the lead capture and up sell? Before you begin creating / writing / developing your product you must being with the end in mind. You need to ask yourself, *how* will they (your customers) access and consume it (online / downloadable / printable copy). You need to ask what type of platform it will be delivered on (web only / iPod / eBook Reader). You need to ask *what* are your customers going to want to do once they’ve read it / consumed it / used it. You’ll need to ask yourself, “How can I bring them back for repeat business?”
All of these questions should come into play *before* product creation even starts! In a nutshell, the ‘end’ that you should ‘have in mind’ for your product must push well beyond the consumption of the product and deep into the future. Always seek to create something that delivers more than a once off purpose.
Lead Generation – But what if your product creation purpose it not to create cash, but instead leads or subscribers or traffic or affiliates (or partners or subscribers or clicks or download and so on and so on….). Then similar questions need to be asked as above. The one difference being that you don’t want to have them ‘buy’ but rather “own”.
Here’s the difference… when your customer ‘buys’ something from you, while they may then technically own it, they still know it’s yours. However, when looking at eDelivery of free downloadable products (and I strongly suggest that for free product that you ONLY consider digital download or Online service delivery – don’t let it cost you anything)… and so when looking at these free digital downloads; you MUST find some way of making them Viral. The thing is this – when you still hold some rights of ‘ownership’ your customer is not likely to want to give it away because there is little benefit to his or her business. But if it’s free with options, and they have some part in ‘ownership’ (such as the ability to re-brand or co-brand) then they are *very* likely to want to give it away.
Can you think of more product creation ideas?
And so it becomes viral and so on and so on; they give it away and they ‘they’ give it away and all the while you still have your name and your purpose attached to it, such as lead generation where in order for people to get their own ‘co-brandable’ copy, they must go to your website first.
Got the idea? And if you’re not sure about it yet, do the maths. Let’s say that only 10 people download it from your website, and then those ten each have ten people download it, and then those 100 each have ten more and those ten more also. Even if that happened only once with each of those ten by ten people in a 12 month period, my calculator tells me that 10,000 people would now have your eProduct in their hands. Now what if only 1 out of 10 decided to get their own co-brandable copy and distribute it – that’s still 1,000 people who could have (if you set things up right and begin with the end in mind) come to your website and joined your list (or fulfilled your purpose whatever it was) and become high quality prospects or partners.
So maybe a ‘purchase purpose’ isn’t quite the right thing for you right now?
These questions are things you must ask and you must KNOW before you even *consider* creating a new product.
Time to get started though, don’t you think?
PS. One last point… if you’re not sure what the best way to go is, how should you determine that? The same way as you determine the concept of the product itself… ask your potential customers. Product creation… Mmmm.