Tag Archives: ideas for products

How To Use Your JV Launch As A Springboard To Huge Passive Income

One of the greatest and most valuable benefits of using a JV Launch to grow your email list of targeted prospects is each time you do a Product Launch you are able to contact more and more people.

That’s because even if you don’t have any other products to offer right away, you can find other products and services those people will be interested in buying and promote them as a JV partner or affiliate.

In fact, there are many business owners who make more from promoting other people’s products and services to their audience than they do selling their own stuff. And if you promote subscription based products or services that pay you recurring revenue, this truly is a way to generate a huge amount of passive income that can continue to grow over time.

How Do You Find The Best Products?

When it comes to creating products that sell well, the big key is to find something that your audience REALLY wants. They might also NEED it, but it’s best if they passionately WANT it even more.

Sometimes people want to create a product on a topic that no one else has created before. In many cases, the reason it hasn’t been created yet is because nobody wants it. If you create something no one wants, then you’re going to be disappointed by dismal sales.

Here’s what to do instead: find out what people are already buying, promote it as an affiliate or JV partner initially, and if it sells really well to your audience, you could create something similar (yet BETTER and/or use better marketing to promote it). And that’s exactly what you’re going to learn how to do in this lesson. Take a look…

Find Out What People Want

The very best predictor of what people will buy in the future is to look at what they’re already buying today. That’s why your first step is to find out what people are already buying in your market.

NOTE: We’re talking about evergreen products and services here, not fads. Fads are too unpredictable to determine if they’ll still be selling well next week, next month or next year.

To do this, you’re going to look for three things:

• Bestsellers
• Products with competitors
• Paid ads for specific types of products

Let’s take a closer look:

Bestselling products. If a product sells well in your market (especially over time), that’s a good indication of demand. To that end, you’ll want to check infoproduct marketplaces such as ClickBank.com, Amazon.com and Udemy.com to see what’s selling well in your niche.

Products with multiple competitors. If multiple marketers are creating similar products and services, that’s another good indication that there’s demand for that type of offer. Again, you can search infoproduct marketplaces to find out which types of products have a lot of competitors. You can also run a search for your niche keywords in Google, and check out what your top competitors are selling.

Marketers consistently placing paid ads for a product. Smart marketers don’t keep dumping money into paid advertising if the product isn’t selling well. That’s why tracking ads over time will give you an idea of what’s selling well. One way to do this is to regularly run a search for your niche keywords in Google, and then take note of the paid advertisements. Look for different marketers selling similar offers, as well as marketers investing in advertising a product over time.

As mentioned earlier, you can also quickly test a product for yourself to see if it might sell well before you invest too much time and money creating it. Here are two “quick and dirty” tests:

• Promote the product or service as an affiliate. If your audience seems to really like a particular offer, that may confirm to you that you should create something similar.

• Create a tripwire offer. Let’s suppose you have a big product or you have something in mind, like a multi-module course. You might create an “overview” of this course, or even just create one module, and offer it as a low-cost tripwire. If your audience likes the “lite” product, then you can take that as a greenlight to create the full product.

Take note that you can also create a “lite” product in the form of a lead magnet that you offer to determine demand (while at the same time building your list). Keep in mind, however, that what people request for free may not precisely determine if they’ll purchase the “full” product.

Once you have an idea of what people in your niche want, then move onto the second step of this process…

Create Something Better

Now that you know what your audience wants, about the last thing you want to do is create something that’s just like every other product on the market. Instead, what you need to do is create something BETTER.

The first step in creating a better product is to review the bestsellers in your market to determine their good points and bad points. This means personally reading/viewing the product yourself. You’ll also want to read customer reviews to see what they like and don’t like about a product.

Your goal is to create something that has the big benefits that everyone likes, yet it improves on the weak points of other products.

For example, let’s suppose you’re creating a copywriting course. Perhaps the bestselling products in your niche include a lot of real-life sales letters, case studies and examples. If people really like that, then you’ll want to make sure you include your own (unique) letters, case studies and examples.

Now let’s suppose that one thing that is missing from the competitors’ products are worksheets to help people decide what benefits to showcase, as well as audience profiling worksheets and other tools. You can improve on existing products by including these tools in your course.

The second step in creating a better product is determining how to make it unique. You can do this by:

• Creating unique case studies/experiments
• Telling personal stories
• Offering unique tips
• Providing unique examples
• Offering unique tools such as worksheets, checklists, templates and similar
• Sharing old information in a new way, such as by creating a formula around a step-by-step process
• Positioning the product in a new way. E.G., how is your product different and better than the competing products? For example, do you provide “take action” tools to help people get results quickly and easily?

The point is, you don’t need to create something so fresh and new that no one on the planet has ever seen it before. Instead, you just need to take your information, even if others are teaching the same thing, and present it in a fresh way.

For example, I’ve seen people create unique formulas around processes in the form of acronyms, where each letter of the acronym corresponds to a step of the process. E.G., they might create a five-step S.A.L.E.S. formula for optimising conversions. While others may teach how to optimise conversions, no one else does it using this unique formula—which makes these products stand out from the crowd.

Conclusion

The bottom line here is that you shouldn’t guess what your audience wants. Do your research, find out what they line up around the virtual block to buy, and then create something similar yet better. And if you want to use the email list you built during your product launch to generate residual income, find and then create your own subscription based products and services and promote them to your audience multiple times a year.

And if you’d like to learn more about creating and launching your new product successfully, including seeing how Jeff Walker builds his list using a JV launch and examples of email sequences and case studies of people who have used PLF with outstanding success, by checking out Jeff Walker’s free Product Launch Masterclass here.

Talk soon,

Rocky

P.S. Being able to create a Perfect Product is a great start, but you also need a way to generate sales in a consistent way. Running a Product launch is a proven way to not only build your list, but generate Social Proof and make a large number of sales quickly. To learn how to launch your product successfully, check out Jeff Walker’s free Product Launch Masterclass here.

PLUS: When you’re ready, here are 3 ways I can help you to grow your business using product launches:

1. How To Build A Profitable Launch List.
Building an email list is critical if you plan on doing a launch for your product, service or business. List Warrior will show you a proven way to use free software to build a responsive list of prospects who are ready to buy from you during your launch. Click Here.

2. How To Create The Perfect Product
Creating a product that is perfect for your audience does not need to be difficult. How To Create The Perfect Product shows you how to build high value products your audience will love one after the other. Click Here.

3. How To Attract Buyers To Join Your Launch List So They Can Purchase Your Perfect Product.
Once you have created your Product Launch List and your Perfect Product is ready to go, you need to attract people into your world so they can buy from you. One Minute Free Traffic gives you a proven way to attract buyers with ‘Automated Traffic Machines’ so you can send those people to your optin page, your sales page, your Facebook Group or anywhere else you choose. To learn more Click Here.

And don’t forget to check this out 🙂

How to Earn $20 in 20 Minutes With Any Topic, Niche or Hobby

Disclaimer: If you purchase PLF through my affiliate link I may receive a referral fee from Jeff Walker, however you will pay no more to purchase the program through me than if you went directly to the Product Launch Formula website. If you would like my personal help as you create your first launch using the PLF process, check out my PLF Bonus offer here.

How to Brainstorm Product Ideas So You Can Launch Profitable Products One After The Other

One of the keys to launching a profitable info-product business is to create a sales funnel full of offers that can either be your own products and services or they can come from other people, That way, you have the ability to launch profitable products to new prospects as well as to your existing customers.

This process requires two steps:

1. Coming up with potential product ideas.
2. Researching these ideas to ensure they’re profitable.

You can’t even get to the second step if you’re stuck on the first step. And that’s why over the next couple pages we’re going to focus on how to come up with all the potential product ideas you need. Take a look…

Browse Infoproduct Marketplaces

With this method, you come up with product ideas at the same time as you research them. The idea here is to enter your keywords into marketplaces such as Udemy, Amazon and ClickBank to see what’s selling in your niche.

Take note: look at tables of contents and sales letters, as each chapter/section may provide you with a product idea. For example, maybe a dieting book includes a chapter (or even just a subsection within a chapter) on the topic of high intensity interval training. That’s a product idea for you right there, as you can create report or video on this topic.

Next…

Read Product Reviews

While you’re still in the marketplaces (like Amazon), take time to read the product reviews on popular products. Many times, the audience will share ideas of what they would have liked to have seen inside a product, and each of these ideas can then become a potential product idea for you.

Check Out Your Competitors’ Content

Not only should you see what your competitors are selling on their websites, but you’ll also want to check what they’re writing about on their blogs, in their newsletters, and on their social media pages. Don’t forget to also check out their videos (especially on YouTube) as well as their webinars.

Use Keyword Tools

Still another way to generate product ideas is by using keyword tools like WordRecon.com or WordTracker.com. Simply enter in your broad keywords (like “weight loss” or “gardening”), and the tool will return a list of related phrases your market is typing into search engines.

For example, if you’re searching for online marketing, you might discover that people are looking for “tips for picking a niche” – that’s a potential product idea for you.

Check Your Existing Content

If you’ve been working in your niche for a while, then you already have content on your blog, in your newsletter archives, on social media and perhaps elsewhere. It’s time to check your traffic logs, shares and other activity to see what’s popular.

For example, if you have an article with ten tips on your blog, you could expand each of those ten tips to create a new report.

Another idea: think about how you can combine multiple popular pieces of content to create something new. For example, if your traffic generation articles about Facebook advertising, Facebook groups, and creating Facebook pages are all really popular, that may give you an idea to create a definitive guide to generating traffic on Facebook (both free and paid).

See What Your Market is Asking

You can start by checking your own inbox to see what sort of questions people ask you in your niche. If you have a community (such as a forum or blog), take note of what questions come up repeatedly in your audience. The answers to these questions may give you ideas for products.

For example, if people on your dieting blog keep asking you the best way to shake off those last stubborn 10 pounds, that may give you an idea for creating a product just for people who are almost to their weight-loss goal, but having troubles crossing the finish line.

Another way to find out what interests your market is to visit question and answer sites such as Quroa.com, Yahoo! Answers, or even JustAnswer.com. Every niche question you see on these sites may potentially give you an idea for a product.

For example, you may see a gardener asking a question such as, “What is the best way to get rid of tomato worms?” This simple question can give you multiple product ideas, including:

• A report on how to get rid of tomato worms.
• A video designed to help people identify common garden pests and how to get rid of them.
• A “recipe book” full of organic gardening sprays that gardeners can use to get rid of various pests.

Point is, don’t limit yourself to just the exact idea you see in the question. Do some brainstorming off the original question, and you’re bound to come up with some additional great ideas!

Now the next tip…

Ask Your Market

Another way to come up with potential product ideas is to simply ask your market. This doesn’t have to be a formal survey (though it can be, if that’s what you’d like to do). Instead, you can just post on your blog, on your social media pages, and even in your newsletter asking people what they want.

The key here is to ask open-ended questions (no multiple choice) in order to get as many ideas as possible.

For example:

• “What is your biggest challenge [in the niche]?”
• What [niche] topic would you like to learn more about?

Now a few parting thoughts…

Conclusion

If you walk through all these steps, you should be able to come up with dozens of potential product ideas. As an added bonus, you can use these same methods to brainstorm up ideas for content to write about in your newsletter! In both cases, be sure to research your product ideas to ensure your audience wants them.

If you’d like to learn more about launching your new product successfully, including seeing examples of email sequences and case studies of people who have used PLF with outstanding success, by checking out Jeff Walker’s free Product Launch Masterclass here.