MODULE 1
CHAPTER 12
How to Create Your Own Product 2
– Setup and Marketing Approaches
1.0 Introduction
2.0 Objectives
3.0 Main Content
3.1 Definition of Business Model
3.1.1. Types of Business Model
3.1.2 Email Marketing lazyapevapes (Freemium Mixed Model)
3.2 Experts and Friends Appraisals
3.3 Payment Processor
3.4 Traffic, Traffic, Traffic
3.5 Launching Your Product
3.6 Two Important Decisions
3.7.0 Selling on Your Own Personal Website
3.7.1 Benefits
3.7.1.1 Be Your Own Boss
3.7.1.2 Cashing in on Your Virtual Authority
3.7.1.3 Ever-flowing Streams of Residual Income
3.7.1.4 More Opportunities
3.7.1.5 Top Secret Reason Why You Should Create Your Own Product
3.7.1.6 Expert-In-The-Making
3.8 Challenges
3.9 Selling Your Products on counterfeitscash Third Party Websites
3.10 You Are In For the Long Haul
3.11 Rinse and Repeat
4.0 Conclusion
5.0 Summary
6.0 Assignment
1.0 Introduction
I covered most parts of this process in the preceding chapter. I purposely did that so I can have enough time and space to discussed other critical factors that may affect the profitability of your digital product(s).
The area so far covered include:
- The Process
- The Act and the Art, etc.
The following areas are to be covered here in details:
- Your Business Model
- Your Long-term Strategy
- Friends and Expert Appraisals
- Payment Processor
- Product Launch
- Traffic, Traffic, Traffic
- Two Important Decisions
- Among Others.
2.0 Objectives
At the end of this ecourse, you will be able to:
- Know the different methods you can use to market your information product in online marketplace
- Choose the best method to market your information product for higher profits
- Choose the best method to market your information product for better control
3.0 Main Content
3.1 Definition of Business Model
Business model is the approach you are using to run your own business, how to get loans for investment properties in this case selling your own information product.
There are many definitions of the phrase ‘business model’.
It is only one of them that I am going to use here because, it is not too academic for our practical use.
That one is the definition provided by Investopedia which states inter alia:
‘A business model is the way in which a company generates revenue and makes a profit from company operations’.
3.1.1 Types of Business Model
In this case I want you to decide ab initio on which of the following models you are going to use to do your business:
- Information Marketing (Mixed Soft/Hard Selling)
- Email Marketing (Freemium Mixed Model)
- Blogging (Mixed Soft/Hard Selling)
- Guest Blogging (Mixed Soft Selling)
- Forum Marketing (Soft Selling)
- Niche Site Model
- Review Site Model
- There are many more models that could be listed…
You need to get used to one model and stick to it for a while, when you have become conversant with it then you add another one and so on and so forth.
For this reason I will only review only one model here.
3.1.2 Email Marketing (Freemium Mixed Model)
This is the best, simplest and possibly the fastest model to set up your online business and run it into 6 or even 7 figure in the shortest possible time, initially using free and later even paid resources to scale it up for higher profitability.
Running your business on this model involves 5 simple steps namely:
- Traffic
- One-page website
- Autoresponder
- Thank You Page
- Broadcasting (to email or phone sms)
You can find details of these steps here.
3.2 Experts and Friends Appraisals
Whichever model you choose to run your business on, do not forget to test-run it by yourself as well as using some experts and your friends, before opening it up to the public.
The experts are people with impeccable experiences in your chosen field who are willing to mentor you for success. They will later become your business associates (Joint Ventures) or provide some revered testimonials that will positively impact on your profitability.
On the other hand, you are going to sell to ordinary people like your friends and relations, thus their own side of views can give you some insights that will make your product to be readily absorbed in the market.