Organizing Your Approach

[private].[/private]There is an endless number of products you can sell online, but here at ProFromGo we prefer products that meet our two special criteria:

  • Special Criteria #1.
    The product must be digital.
  • Special Criteria #2.
    The product must be able to be resold an infinite number of times.

Although we do encourage the selling of digital products because they can be sold over and over again, there is something to be said for the selling strategy that puts a cap on the number of units sold in order to create a scarcity effect.

You can encourage spontaneous purchasers to whip out their credit card by putting a time limit on your offer, or by limiting the number of copies you plan on selling. This is what is known as creating “scarcity”. Scarcity is an economic principle that states demand will increase as supply decreases. When you limit your supply by either putting a cap on the number of units for sale or by putting a time limit on your offer, you can actually manufacture scarcity.

Scarcity is about creating fear in a person. People make decisions based on emotion and they want to have the latest products and information. If they think they might miss out, they will pounce! Human beings also have a need to stand out and be unique and the limited product appeals to that need.

Creating scarcity is something that must be carefully planned and weighed out prior to being implemented. You don’t want to put a time limit or cap on your product or offer and then fall short of reaching your full income potential from that particular project.

Here is another interesting equation for you to ponder:

Desirability = Demand – Supply

The more you increase your supply the less desirability there will be for your product as supply grows closer to demand. However, if you lower your supply, thus creating the “scarcity effect”, then you can raise the desirability of your product.

As I mentioned above, be very careful when putting restrictions on your offer such as “Only 100 copies will be sold” or “this product will only be available until January 15, 200X”.

It would be a real shame if, after all of your hard work, you were to lose out on profits just when things are getting good because you really don’t want to go back on your word. When you say it, you have to deliver or customers will not respond as well to your future offers.

Getting Set

Once you have decided whether or not you want to limit the release of your product, it’s time to start organizing your approach.

There are a few different methods and processes for developing both a site and product to offer your niche. Some marketers actually begin with the sales page and then ensure that all offers and promises made in the sales copy are delivered within the product.

I suggest creating your product first. Once the product is created, it is much easier to write your sales copy based on what you already have created.

Let’s delve a little deeper into the creation process and examine the four different phases of taking a digital product from an idea in your mind to a real life money making success.

The 4 Phases Of Bringing Your Product & Website To Life

  1. The Product Development Phase
    During this phase you will be doing all of your niche research to choose a profitable niche. The actual creation of the product also occurs during this phase (whether you want to outsource the creation process using the tactics we discussed in the “outsourcing” section or do the legwork yourself is completely up to you and depends on just how knowledgeable you actually are when it comes to your respective niche).
  2. The Website/Offer Development Phase
    During this phase you will be either designing and refining your website/offer for your product or managing the outsourcing of these related tasks. During the Website/Offer Development Phase it’s crucial to stay focused and be flexible enough to refine your ideas as the site develops before your eyes.
  3. Marketing/Pre-Launch Phase
    During this time you will be recruiting Joint Venture (JV) partners and affiliates to help you promote your product once it goes live (this will be discussed in greater detail later on in the training). You will also use every opportunity that presents itself to “spread the word” of your new project and shamelessly advertise it every chance you get.
  4. Operational Phase (After Launch)
    Once the site is up and running successfully (after the launch) you will be in the Operational Phase. During this phase you will focus your efforts on continued testing and refining to increase your website conversions.

More in depth analysis of these phases will be covered throughout the related training sections!