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12 Tips For Your Product Funnel

Aug 19, 2008
When creating products to sell through your Internet business it can be confusing. What products come first and what comes next? What is your product funnel? What is the first thing that a customer would buy or download in your niche? Keep answering these questions until you have created your own product funnel.

Let's look at the product funnel more closely,
1. Have a free or inexpensive product such as downloadable pdf, CD, or audio. You give this away to show your customer that you have valuable information.
2. Products that range $10-$40 of better quality.
3. Products that range $100+.
4. Products that range $100 to $500 such as a small course.
5. Products that ranges $500 to $1,000 such as a course.
6. Products that range $1,000+ such as personal coaching and mentoring.

Remember as the price goes up, your product quality should go up.

Product Research:
1. Do competitive analysis to find what's missing in the marketplace.

2. Search for weaknesses in your competition.

3. Brainstorm ideas to find out what people want, not what they need.
Remember, people don't always know what they need. You need to know the difference between what they want and what they need. Sell people what they want and deliver people what they need. There needs to be a tie-in between these two.

4. What can you come up with that is new and will solve your customers' problems? Find new and creative ways to be a problem solver. Use your expertise to craft these new solutions.

5. Your product can have a short life span or be an evergreen product. Software products tend to be evergreen products. They are evergreen because they are updated often, but the initial product remains the same.

6. Check blogs, social sites, and forums to see what topics and products are becoming popular. To find forums in your niche go to Google and type in 'yourniche forums'.

7. Search Clickbank.com, associateprograms.com, pay.com.com to find products in your niche. These websites will have digital information products in your niche.

8. Buy products that are not doing well and rebrand them. You can purchase exclusive private label rights so you and the owner of the product are the only people that can sell the product. So you can revamp the product and sell it. Make sure that you have a contract for the private label rights.

9. Look for private label products, tear them apart, and incorporate it into your product. You don't have to reinvent the wheel.

10. Leverage the competition. Purchase competitors' products to see what they make and how they deliver it. Analyze the benefits and limitations of your competitors, products. Then create your own product that only utilizes the benefits. You can also point out to your customers that you have a superior product.

11. Create your price point. Common price points are $9.97 and $19.97. Determine your price by seeing what your competitors are selling a similar product for or you can determine the value of the product yourself. It is up to you. For example, you can say that your product costs much more because it is a significantly higher quality product.

12. Compete with your competitions on benefits and features. Don't try to offer the lowest price.
About the Author
There are many strategies to making money on the internet, but nothing makes sense unless you have a big list. Email Marketing is the most profitable way to make money on the internet. Discover how to use the internet and turn your computer into a cash gushing machine. Sign-up right now for Matt Bacak's FREE online newsletter to find out how to do exactly that, Go here: www.promotingtips.com
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