Saturday, November 1, 2014

The Product Hopper

Last week I wrote on the importance of “The Content Hopper”. This week I’m writing on “The Product Hopper”. I’ll repeat …… posts on one side of the brain; products on the other side.

Only after your first year and once you have your writing in order, you will need to focus on producing your own product-line. Much like you have been posting by placing a reserve of posts in a “content hopper”, you will now have to place your products there as well. This serves several purposes.

‘Tis The Season

Most important, you will have something ready to go for Christmas, as this is your most important season for anyones sales be they Retail or Online. Next you will never be searching for the next big thing as this is mainly a waste of time. However, once you are seasoned and you are able to accurately see trends in your niche, you will be in a much better position to spot those trends and exploit them. Once you see these trends and you attempt to market a product, your exposure to failure is limited by having other products that you are actively processing at any given time.

One Size Does Not Fit All

How many products you have in your hopper is really hard to determine as Online products come in all shapes and sizes. However, I don’t think I’m off base here by suggesting that you have three ready to go at any one time. I’d like to think that you can produce a product a quarter and have at least a years inventory in advance of your market.

The Next Big Thing

Caution should be given not to get in too deep with “the next big thing” product, should you decide to jump in and exploit a market need. If you are seeing where the development is going to run longer than a couple of weeks, then you should make a conscious decision to place that product in your content hopper line-up …… come-what-may. In other words don’t let it upset the apple cart and throw your timing off with your other products that you are presently working on. If the product were to fail then you would have a mess on your hand as far as your timing goes with your other products, and as you should know by now the name of the game is “CASH FLOW”.

One Product Does Not Fit All

As you begin to develop your product-line remember this, keep a good selection of products in the mix. If you are successful at marketing E-Books through Amazon and other such affiliates, by all means go for it, however don’t solely rely on that as your only source of product income. You know from your life’s experience that you will have to venture into the unknown sooner or later. So don’t avoid it, rather embrace it.

In my next post I will be writing on those products that you will provide your readers for your mailing list.

Comments

  1. Adrienne says:

    Have three lined up at any given time? Heck, I can’t even get one lined up.

    Dang Jeffrey, I have my work cut out for me. It’s the time that is my problem. Putting aside the time to actually get this done. There just aren’t enough hours in the day.

    Okay, and coming up with three of them. It’s hard enough coming up with just one. I over think things too much, that I know for sure. Maybe I’ll get this all together in the near future.

    Back to the drawing board I suppose!

    ~Adrienne
    Adrienne recently posted..2011 List Of My Favorite WordPress Plug-ins

    • Jeffrey says:

      Hi Adrienne,
      Hey don’t get me wrong here. You don’t necessarly need any products at all. Most of the top Bloggers, are just that “Bloggers”. They earn income in only two ways and two ways only.

      From my research, and I have researched it well. The income for top Bloggers comes from “Advertisers” by a 2 to 1 ratio over “Affiliate Products”. All top Bloggers; those earning 7 figures or better participate in both.

      I’m really interested in and am talking about Internet Marketing here. I’m really interested in this. I just cross over a bit, in that I’m really interested in the Blogging end of things also.

      I’m sure it has not been lost on you that after nearly three years I’m not the most popular Blog out there. Reason being, I’m really interested in the gears of the machine. That’s one of the reason’s why I will be taking over “Blogging Extreme.com” next year on a part-time basis.

      True Bloggers such as yourself don’t have a lot of time to do anything else besides promote affiliate offers and tell the ad guys “take it or leave it”. It doesn’t take a lot of time to do this.

      However, you come to a point in your development in wheather you want to be a Blogger or Internet Marketer. I’m really interested in the latter. I’m really grooving on the Blogging thing though.

      OK, I’m repeating myself now ………. Identity Crisis !!!!!

      • Right now I’m taking notes on Copyblogger’s “Third Tribe” interviews and so this topic of monetizing a blog is top of mind.

        In the interview that Brian Clark does with Darren Rowse of Problogger fame, Brian says he waited way too long to bring a product to his audience. If he had to start over again, he’d a done so a lot sooner.

        Darren brought up an interesting point. He said that he’s always looked to monetize his sites as of Day one because he didn’t want anyone to feel like he was “selling out” on them because he started selling ads on the site or started offering products.

        One thing I feel is vitally important to having success with a product is KNOWING, not assuming what your perfect prospect’s pains, frustrations are so that your product is an answer to that. I’ve learned that getting people on the phone for consultations/coaching is one of the best ways to get this information.

        A close second is asking people to give you feed back in an email. Anywhere that isn’t private (blog comment section, survey answers – they don’t know for sure who’s gonna be reading the results) scares a lot of people when it comes to baring their problems. One on one is magic though.

        But I would never dream of releasing anything until I knew that a huge portion of my audience had a challenge I could solve. And that could be why Brian hit it out of the park with his first product because he’d been in the trenches, in tune with his audience for years.

        • Jeffrey says:

          Hi Lewis,
          Being able to produce a product or products that are designed with a client’s specific problem or need in mind is the challenge of millions in business everyday. However those with enough insight to deliever an impacting product are few and far between.

          I’m more of a better mousetrap type of person; taking an existing problem or product and improving on it. While the money is not nearly as good, the challenge of having to conceive, develop, and market the next big thing is not nearly as daunting a task.

          We all know that Ubiquitous Computing is the way of the future. Good Luck to those that think they are the next Steve Jobs ……….. they’re going to need it!

  2. Hi Jeffrey,

    My 1st time here on your blog (I learned about it from Adrienne Smith’s blog about her fave WP plugins).

    Love the insight you provide here regarding “The Product Hopper.” I am starting to really get my arms around a few techniques in the blogsphere, but product dev has been a bit out on the yonder! lol I do have added motivation to begin tackling that now, though!

    Thanks for the informative share!!

    Best regards,
    Cat Alexandra
    Cat Alexandra recently posted..BIG Facebook Timeline Changes & What it means to YOU!

    • Jeffrey says:

      Hi Cat, thanks for coming by today!

      If your experence is less than a year and you are still interested in getting your products out there as soon as possible, then take it slow. Keep things managable. Do small products and charge small fees.

      Absolutely no big product lauches. You just don’t have enough experence for that. There would be a good chance that you would fail and people would remember you for that failure forever.

      Do a small product like “DOUBLE Your Conversions!!”. Now, you offer it as an opt-in on your site now. However, when you change your opt-in ( which you should do, at least once a month, two at most ) you can take the product and re-package it and then sell it for yourself for $3.95.

      Now comes the critical part. Cat ………. you’re not trying to rehash old or someone else’s information here. What you are trying to do is learn the ropes in what works and what doesn’t in product launches, done your way.

      You learn how to build your own opt-ins, landing pages, thank-you pages, how to handle PPC and how to do your split-tests. All of these things will give you the true wealth that you are looking for as you are just getting started. Not by filling your Paypal account, rather by giving you critical experience that you will need with your own product launches in the future.

      That way in the future when you launch “Catherine’s WordPress Express Blog Set-up” on Video for $55.00, you won’t have to spend the next three days waiting for the third sale to come through. Instead you will be looking at 300 sales in the first three days.

      Now, do you understand what that makes you Cat ? Insignificant …….. in the field of Internet Product Launches. Insignificant with $16,500.00 in your Paypal Account.

      Focus, think ………. make a difference with your life and inspire others!

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