Product Creation Lesson #7 – Understanding Your Product’s Purpose in the Bigger Picture

Understanding Your Product’s Purpose in the Bigger Picture

When developing your product, it’s essential to define your primary goal. This clarity will guide your pricing strategy and commission structures.

What is Your Main Goal?

1. Is your goal list building?
If so, consider giving your product away or offering your joint venture (JV) partners 100% commissions to incentivize them to drive traffic to your product.2. Is your goal to generate revenue?
In this case, you likely won’t want to give your product away. Your perspective on this will depend on how well you’ve established your backend strategy, as discussed in Chapter 3. Often, the potential earnings from backend sales can surpass front-end profits if you’ve designed an effective monetization strategy. You might also consider offering a 75% commission to your JV partners for the front-end product and a lower percentage for back-end products.3. Is your goal personal branding?
This is a worthwhile objective. Many entrepreneurs inadvertently promote others’ brands instead of their own if they’re not careful. Building a strong personal brand is crucial for establishing a successful home-based business. Notably, successful internet marketers share a common trait: they have developed attractive personal brands that stand out in front of their offers. Unfortunately, many marketers won’t emphasize this, as they benefit from having you promote their brand instead. Prioritizing your personal brand is vital for long-term success in this industry. To Your Success!

Image Concept for “Knowing Your Product’s Purpose”

Title: “Define Your Product’s Purpose”

1. Background:
   • Use a clean and professional background, perhaps in a gradient of blue or green to evoke trust and clarity.
2. Layout:
   • Create a visually appealing infographic with three sections, each representing one of the main goals (list building, revenue generation, personal branding).
3. Content:
   • Icons: Use relevant icons for each goal:
     • List Building: An envelope or email icon.
     • Revenue Generation: A dollar sign or cash register.
     • Personal Branding: A person or megaphone icon.
   • Text Boxes: Include brief descriptions under each icon explaining the strategy:
     • List Building: “Give away products or offer 100% commissions.”
     • Revenue Generation: “Focus on backend sales; consider commission structures.”
     • Personal Branding: “Build a strong personal brand for long-term success.”
4. Call to Action:
   • At the bottom of the image, include a motivational phrase like “Identify Your Purpose for Greater Success!”
5. Branding:
   • Add your logo in one corner of the image for brand recognition.

CONTINUE READING…

To Your Success,

A.BERRICHI

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