When I start online internet marketing my aim is to create own product and promoting it. But I had no idea about who is my competitor and what is their product and what their product is offering to the customer.
I had enough experience in my own niche. But I don’t know how to market the product. Here I realized my product development idea was very poor. The main thing with creating the digital product online is we need to know the promotion techniques also.
So first I try to learn about affiliate marketing. This deals about how to promote a product in online for commission. Once you have learned the concept of affiliate marketing now you can ready to create a new digital product online.
The product may be as simple as an Ebook or Membership site. Based on Your technical skills and ability for the product promotion and knowledge in a particular niche you can choose your product type.
Now a days there is much talk about building a product in a niche and making a good business start up. So most of the online professionals focusing to create own product or promoting others products to make money. We need millions of people to make billion dollars in a niche.
Since I have created three different online products Thesis designer guide Ebook, Fourbloggerclub membership site and Fourbloggerskins theme development I had some tips from my experience on creating new distal products.
When we start thinking about the creation of new product there are four things comes in your mind as follow.
- Find the product we need to create in our niche?
- How to create the product?
- Support People need to create a product
- How to Test the product?
To identify the hot product in our niche we need to do proper market analysis. The marker research helps you to find the goal of the product and find targeted peoples those who are ready to buy the product and some marketing strategies to sell the product. check market research strategies to launch the product.
Create a product to be Specific for Customer
From the market research analysis we know, It is very complex to create single product for the wider range of customer. So be specific on finding the targeted people for selling our product. We need to create product for all people but our product deals about the simple solution particular specific problem.
We need to take care about the goal of creating the product the generalized product won’t be reached the customer effectively. If our product is created with an intention for the use of particular customer then it will not good for specific person. So be careful while creating product for the wide range of customers. We need to focus one problem of single customer.
Narrow down your Niche to create a product
Niche product has multiple advantages so don’t hesitate to narrow your niche we can’t offer solution for wide niche problems with a single product. So take a small portion of your competitive niche market. There is always small competition in a particular potion of the competitive niche.
For example weight loss is the competitive niche but weight loss for over 40 years is having less competition in the keyword point of view. So we can reach the competitive market faster. It’ll be easier to target people for limited potion in a competitive niche. Smaller niche is the first step for the success.
Find the real and unsolved problem in current trend of the customers. Our product should give simple solution for the real problem rather than I catching solution. Because realistic lives long life and eye catching lives until the next few blinks vision.
The finest method to reach customer to pay for our product they will feel our product is worth for them to solve the real problem they have currently. They will ready to spent money easily only for the below three reasons
- The product will escape them from the pressure
- Help them to make money
- Help them to save money
Once we have the idea about what we have offer to the customer we need fix the method to give the solution to the customer. That means the product type mentioned below
- Memebrship site
- Video materials
- And etc
We need to choose the suitable way to convey our solution to the customer problem.
The product development needs a procedure from the market research data.
Define the Processes to create the product
To make more money we need to create better product to the customer. The complexity was no one has told us this will be the great product. First we need to define the product development process from the market research. To win in this game, you need to build a great product. Check out the complete process of own product launch here.
Once we defined the process for your product development now create model for your product. The physical model is not necessary for digital product. We need to have the all the process involved in the product creation.
We need list each process in the product creation as separate task. And develop the plan for doing the task. And find the complete steps involved in the task for the documentation and successful completion of every task. Once you have defined all the processes in the product creation then move on the next.
The prioritizing the product development process is complex issue. Our will solve the major problem of the customer. While prioritize the process we need to have the intention what is the goal of the product.
Our priority on the process is not in the list format we need to do this with the iterative manner. Our aim is to make multiple iteration in process because number iteration in the process to reduce the inefficiency of the process. But keep each iteration as small as possible because the addition more feature can be easy with small iterations.
Error correction in the process
While seeing all iteration involved in every process we may need to cut off some unnecessary things in the process and respected iteration. Don’t spend too much time on cut-off unnecessary things in the product development processes. Also don’t delay to cut off the error in the end.
Once the process completed we need to have less time to correct all the mistakes we have notified during the process development. So we need to cut off the unwanted iteration as quickly as possible during the process development.
Take the hard decisions initially it was easier to take. Once the product development has started it not easy to make hard decisions so don’t delay to do necessary change just because of you are committed already.
At the same time, don’t spend too much time for correcting the mistakes instead of that just focus on the goal of the process and do it faster. It is very easy spent more time on restructuring the core code to add more feature to the product. But it is not much priority compared to the defined process.
Restructuring only done within the specific period of time the motive of restructuring the product is to clean the product. It has two steps
- Find the factors to modify
- Do it
The first step need a week and the second take few days don’t spend too much time one this. This applies all the design modifications also.
To create complete product we need support for the developers and quality tester and etc. For any kind of product w need to have people for development and configuration and peoples for testing the product functionality.
Development People is educated fully with their Goal
The main work of the leader in the development and configuration of the product is to dismantle the complete product model in to sub modules and fixing goal for each sub modules and assign work for each developer in the development process.
Once the work has assigned to the developer leader must tract the developers work for the successful completion of the product development. The developers are the parents for the sub modules if they don’t care about the goal of the each module then finally the net product will not come perfectly.
The people anyone who’s not passionate about building the product should not be involved in building own product. They are under the testing side so the process management is complex for the product owner who is willing to launch the product.
Even though for these reasons, it is very uncommon that outsourcing the product development will be successful. The better organized product development team can make effective product.
Include one targeted user on each development segment
We know hiring a new developer is not easy task. Because we know it is always better to make one person to work with us than work for us. Instead of hiring people to work for the product development we can hand over one module to them and getting with our goal is easier.
While dividing the product module into sub modules we need to assign development people to the corresponding work. While assign developers to the task we need to target at least developer for each modules to get the successful outcome form the module.
That is the development peoples involved in every day or every week iteration meetings. If we fail to make meeting we are delaying our product development for a while until the next decision has been taken. We can even breakup all the rules instead of doing unwanted thing in the product development. There are many reasons for the product launch failure check my 50.
Once the product development finished as per the process defined now you are ready to check the product. Product testing has two ways.
- Functionality testing
- Customer Based testing (Beta Testing)
The functionality test of the product done by the professionals in the quality testing bench they are the first level of product testers. This is just to verify all the functionality was working properly as per the documents given to the product development team.
Once all the functionality has verified the initial level of testing is over. Now the biggest one is the customer based testing (Beta testing). While doing the customer based testing we need to launch our product within the organization for free ask the people to use the product and tell the feedback about the product.
Collect all the feedback from them and we can also get the opinion from the friends and family during the dinner time once they offered to test the product. Getting the feedback from them and re analysis those feedback and send it to the product development team for the necessary changes. Now you are ready to market the product.
The best way to sell the product is finding more promoters and affiliates for our product. Even if you are a full time marketer for digital products, just forgot about how much money you have earned by selling the product just remember the amount of knowledge and methods you have gained while selling third party products.
Every own product creation has some hesitation for the first development just leave it. First step is to set the goal of the product creation from the market research data. And define the process for the product development. Creating a new, successful product is like writing a book or creating a movie, or making a coffee.
Once we define the process next prioritize with iteration of processes. This is the important step while developing plan for product development. Find the right people for the each module development target at least one for each module in the product development.
The team organization was much important rather than the size of the team for the successful product development. So we need to arrange meeting frequently within the team.
Once the product development is over now we need to test the product in two ways one is functional another one is beta product test. That’s all about creating new product share your experience in comments section.