online marketing

The Five Costliest Business Mistakes (And How to Fix Them)

You’re rolling along, building your dream business… when WHAM, something takes you by surprise.

You’ve made a mistake.

Maybe it was something you didn’t think was important, or maybe you just overlooked it accidentally. No matter what the reason, the end result is the same…

The mistake is going to cost you.

Maybe it’ll cost you time. Maybe it’ll cost you money. Maybe it’ll cost you frustration. Maybe it’ll cost you credibility. It could be anything, but you can be sure it’s going to cost you something.

Doesn’t exactly sound like a dream business, does it? Right. And that’s why you’ll want to pay attention to the following five costliest business mistakes… and how to fix them.

Take a look…

Mistake 1: Not Doing Market Research

Sometimes business owners get really excited about a product idea. And when they get excited about it, they assume that a whole lot of other people (AKA customers) are going to be just as excited as they are.

So then, they imagine huge product launches that are going to help a lot of people and put more money in their pockets in one day than they used to make all month.

Except when the big day happens, the sales don’t come. And along with the lack of sales comes a sinking feeling for the business owner who realizes he wasted a lot of time and money creating a product that no one wants.

Don’t make this mistake. You can avoid this by doing two things:

Do your market research. Finding out what people are already buying and then creating something similar (yet better) is one of the surest ways to make money. As the saying goes, “build a better mousetrap.”

Test your ideas. If, despite your market research, you’re not sure an idea is going to fly, then test it on a small scale before you invest a lot of time and money.

For example, create a “lite” version of a product. Instead of creating a 20-lesson course, start with a low-cost report. If it sells well, then a full course on the same topic will likely sell well too.

Next…

Mistake 2: Not Creating Segmented Email Lists

If you’re not building lists at all, that’s a HUGE mistake. But it’s also a mistake to build lists without segmenting them. That’s because once you segment your lists, you can send out highly targeted content that results in higher conversion rates.

Sidebar: In other words, you’ll be sending content (a mix of free information and offers for paid products) that is of greatest interest to those receiving it.

Here’s how to segment your lists:

Separate your prospect list (those who have never purchased from you) from your customer list (those who have purchased from you).

For example, there is no reason to continue sending emails for a particular paid product to those who have already purchased it. You can send offers for a related product to those people.

Segment your prospect list according to the free offers they’ve downloaded or accessed.

For example, if a prospect has accessed a free offer, it shows they are interested in the subject matter of that content (as opposed to other topics they have not yet shown interest in).

Segment your customer lists according to the paid products they’ve purchased.

For example, if a customer has purchased a product, they are likely to be interested in purchasing a related product on the same subject, especially something that provides a way to speed up results or provides advanced information.

TIP: Make use of your autoresponder tools, such as by segmenting your list according to if someone opened your last email.

It’s very simple to set up segmented lists if you’re using one of the major autoresponder services, so it’s a good idea to get started from day one.

Next…

Mistake 3: Neglecting Your Sales Copy

One of the most profitable skills you can acquire is to learn
the art and science of writing good sales copy.

This skill even comes in handy when writing other content, such as blog posts, social media posts and email newsletters. The better copy you write, the more reads, clicks and conversions you can expect to get.

Two quick thoughts on this…

Offer hope, not hype. In other words, don’t try to play marketing mind games with people by preying on their emotions and forcing them into a bad buying decision. Offer them genuine hope that they can solve their problems, reach their goals or enjoy their interests.
Offer help, not hype. In other words, effectively communicate to your audience how your products can meet their needs. Your objective is to convince them that you really can help them. You don’t have to coerce people to buy something that really will benefit them. You just need to show them that this is true.

The point is, it’s a good idea to start learning how to write effective copy.

Mistake 4: Titling Products As An Afterthought

There are a whole lot of prospects who are going to make decisions about buying your product largely based on the title of your product. It’s true. Your title can make or break the success of your product. And that’s why you want to be sure to spend time creating good titles.

Keep these tips in mind:

Brainstorm multiple titles. Then pick a few of the best ones and test them. You can do these tests fairly quickly (such as in a weekend) by sending large amounts of paid traffic using sites such as Google AdWords and even Facebook advertising. Just be sure you hold all other variables constant across your ads, with the only difference being the title of your product.
Present a big benefit in your title. (E.G., “How To Get Your First 1,000 YouTube Subscribers.”) Your audience needs to know what kind of result your product will help them achieve as a result of using it.
Use attention-grabbing words in your title. Examples of these “power words” as they are sometime known include: you, how to, new, simple, discover, revealed, instantly, quickly, fast, and easy.
Arouse curiosity whenever possible. (E.G., “The #1 Way To Lose Those Stubborn Last Few Pounds.”)

Use titling templates to help you brainstorm titles even faster. You can search for these at Google. (Ex. “product title templates”)

Next…

Mistake 5: Becoming A Perfectionist

Putting out good quality work is important. You always want to over-deliver to your customers.

But being a perfectionist is a way to waste time
without helping others or making money.

Because here’s the thing…

If you’re a perfectionist, then the various pieces and parts of your business will NEVER be good enough. You’ll endlessly tweak products, tweak sales letters and tweak ad campaigns… without ever releasing any of them. And that means you’re not getting results for your audience or your business.

Here’s what to do instead:

Tweak on the fly.

This means putting forth your best effort in all you do, and then releasing it to the public. Let your audience vote with their feedback and their wallets.

You can track and test the parts of your business (like sales letters and ad campaigns) to find out what your audience responds to. Sending customer satisfaction emails and surveys is another way to find out the likes and dislikes of your audience.

And then you can make tweaks with the confidence that your tweaks are going to produce great results.

End result? You can help other people and make money even while you’re still “perfecting” your product, copy and ad campaigns.

In other words…

Don’t try to make things perfect before you release your product.
Do try to make things perfect after you release your product.

(Or as close as possible to perfect.)

Do you see the difference? One gets your product out there helping people and earning income, while the other option does neither.

In a nutshell…

Aim for excellence in everything you do before others see it,
and aim for improvement in everything you do after others see it.

Now, let’s wrap this up…

Conclusion

You can be humming along, thinking everything is going great – and then it can all come to a screeching halt where you’re getting really poor results. Fortunately, if you follow the advice above, you’ll be able to avoid some of the costliest business mistakes.

Do the right things. Don’t do the wrong things.

By the way, if you want to learn about 5 lucrative online business models you can try, from affiliate marketing to FBA/eBay and more, check out the featured resource below for a free report that covers 5 online business models that you can choose from. Pick one and get started today… 😊

Five Keys To A Successful Online Business

If you are going to be successful in any area of life, including business, there are two basic ways to achieve what you’re after…

Do the right things.

Don’t do the wrong things.

In other words, you want to do those things that will make a way to a successful outcome, and you don’t want to do those things that get in the way of a successful outcome.

So, let’s take a look at five keys to a successful online business…

Get The Right Mindset

You’re not an employee anymore – you’re a business owner. And that means you need to start thinking like one.

Keep these tips in mind:

The buck stops with you. No matter what happens, you’re ultimately responsible. Don’t blame business partners, freelancers, or anyone else. You’re in charge now.

For example, if your business is going to generate revenue by serving your audience well, you’re going to need to personally make sure that things get done well.

The day doesn’t end at 5:00pm. This doesn’t mean that YOU need to be sitting at your desk monitoring your business 24/7. However, it does mean that you need to put systems and staff in place to take care of things when you’re not able.

For example, install an app on your website to let you know if it goes down so that you can get it back up and running ASAP.

Work smarter, not harder. You’re not trading time for dollars anymore. That’s why you need to plan a business that lets your income grow even when you’re not sitting at your desk.

For example, installing an evergreen autoresponder series lets you make sales the hands-free way.

Next…

Prioritize Customer Service

Just read a few Yelp reviews, and you’ll quickly realize the reason people either stick with a business or leave it boils down to customer service.

You can have the best products in the world… but if your customer service stinks, your customers are going to vow to never do business with you again. Not only that, but they’re going to tell their friends too.

That’s why it’s so important to make customer service a priority.

Here’s how:

Be sure your website is user-friendly. A good customer service experience begins with a good experience on your website.
Make your customer service easily accessible. Don’t make people jump through hoops (such as registering for a help desk) in order to contact you.
Answer all customer service inquiries promptly and professionally. And if you have customer service staff, train them to do the same.

TIP: Create a “knowledge base” with a set of professional, pre-written responses to common inquiries (I.E., frequently asked questions) that is posted at your website. This will allow for instant, hands-free customer service in many cases so your audience doesn’t even need to contact you.

Next…

Build A Strong Brand

A brand isn’t just a logo and a slogan.

Instead, it’s a driving force for your entire business. It’s the FEELING you want your customers to experience when they use your products or think about your business. It’s how you set yourself apart from your competitors.

And it’s the way you create “top of mind” awareness, so that your prospects and customers think about your business even when they’re not directly looking at one of your ads.

How do you build this kind of powerful brand? Follow these best practices:

Create a brand around a feeling. Then be sure every part of your brand (from the colors to the slogan) are designed to generate this feeling. Think about the following brands: Disney, FedEx, Coca Cola, Nike and Compassion. What feelings come to mind? Things like happiness, empowerment and empathy among others.
Design a slogan that sets you apart from your competitors. This unique selling proposition may flow directly from your mission statement and should be aligned with the feeling that you want your audience to experience when they think about your brand. E.G., “We try harder.” (Avis rental car company.)
Integrate your brand thoroughly. This includes on your website, in your sales letters, within your product packaging, and in all content. Be sure your customer service staff is trained on how to reflect your brand in their replies.

Next…

Grow Your Business Every Day

Building a business is a marathon, not a sprint. And that means that taking small, consistent steps every day tends to produce big results. As such, make it a habit to do something each and every day to grow your business such as:

Find a new place to purchase an advertisement.
Create a blog post.
Post on social media.
Develop a new lead magnet.
Send an email to your list.
Develop a relationship with a new joint venture partner.
Create a limited time offer.
Craft a rebrandable report for your affiliates to give away.
Post a video on YouTube.com.
Develop a free webinar.

And similar tasks. If you take these sorts of steps consistently, you’ll see your business grow consistently.

Test Everything

A truly successful business isn’t built on gut feelings and guesswork.

If you want to create a higher return on investment with everything you do, then you need to start testing the various parts of your business.

This includes:

Testing your ideas. For example, before you create a big paid product, you might start by creating a free offer on the same topic. If the freebie generates a lot of interest, then it’s safer to invest your time and money in developing the larger paid product.
Testing your ad campaigns. Many platforms (such as Facebook or Google AdWords) include built-in statistics so that you can determine which ads and which keywords deliver the best results.
Testing your emails. Most of the bigger autoresponder services tend to include built-in statistics, which makes it easy for you to track and test your emails. Pay particular attention to your subject lines, the overall offer, and your calls to action. You’ll also want to do some testing to find out what days and times of the day work best for sending offers.
Testing your sales letters. Factors such as the headline, overall offer (including price) and call to action tend to have the biggest impact, so focus on testing these items first. You can use a tool like SplitTestMonkey to start testing your sales letters.

Now let’s wrap things up for now…

Conclusion

Creating products, building lists and driving traffic are three important pieces of a profitable business – but they’re not the only things that will drive your success.

If you want to grow a truly successful business, then you’ll also want to be sure you have the right mindset, you prioritize customer service, you develop your brand, grow your business every day, and test everything.

And, of course, never lose sight of this…

You’re in business to serve your audience well.

Ultimately, you want to generate benefits for your audience and profits for your business.

This will happen as you dedicate yourself in every area of your business to helping others…

Solve their problems,
Reach their goals and
Enjoy their interests.

Once you do these things, then you’ll be able to take your business to the next level to provide even more help and earn even more income.

By the way, if you want to learn about 5 lucrative online business models you can try, from affiliate marketing, to FBA/eBay and more, check out the featured resource below for a free report that covers 5 online business models that you can choose from. Pick one and get started today… 😊

How To Avoid Buying Low-Quality Digital Products

Any online marketer (regardless of experience) will often say that one of the biggest mistakes they’ve made is spending money on digital products which are hyped up – but just don’t work.

In fact, the ‘make money online’ scene is awash with so many low-quality info products and rehashed courses that one could almost consider it the norm.

The average decent person just getting started in the business struggles to come to terms with the fact that many unscrupulous marketers will sell products that are built on false promises and untested theory.

And if you are a beginner just finding your foot in the online business world, the power of FOMO (Fear Of Missing Out) and Shiny Object Syndrome are really difficult things to ignore, but these things can (and will) cost you time and money.

And let’s be completely blunt; these sellers have NO qualms lying to get a sale. They don’t care about you or your business, that’s the sad fact of it.

Many business owners develop a business with a genuine desire to help their customers, but the ‘make money online’ internet marketers are a definite exception to this.

Just wrapping one’s head around this fact is a monumental feat. But yes, many marketers will take your money and take you for a ride – but only if you let them.

Not all are bad, but you must do your due diligence to avoid those that are unscrupulous and selling you vapourware. Find the good marketers and stick with them, and generally stay away from marketplaces like JVZoo, WarriorPlus and Clickbank because the vast majority of products sold there are low quality and the platforms are not doing a very good job of policing what is being sold on their platforms.

So, if you wish to steer clear of these scams and save your money, here are a few pointers to take note of BEFORE you buy any digital products/training.

Do Your Research On The Vendor

This is the MOST important point of the lot. Join a few Facebook groups dedicated to online marketing and ask around there. Very often, you’ll find people mentioning bad experiences they may have had with the vendor.

You’ll also want to see what other products the vendor has created.

Do all their sales pages look similar with hyped up claims?
Are the domains for their previous products still in existence?
What’s their ranking in the marketplace?
Are there negative reviews for their products?

It’s important to remember that just because other marketers are hyping up the vendor’s product that doesn’t necessarily mean that it’s good.

Very often, the vendor’s friends will be promoting the product and telling you what you want to hear… or they may be part of a ‘back-scratching cabal’ where everyone praises everyone else in the group just to appear legit.

You need to be sharper than that. Do your research on the vendor thoroughly.

Analyze The Sales Page

The next step will be to take a logical, unemotional approach to the sales page. Very often, sales copy is designed to play on your emotions – to hook you in with the promise of quick and easy money – without any work on your part.

You’re told about ‘push button profits’ and ‘million-dollar loopholes’… and you end up believing that it’s really possible for you to be making 5 figures a month within 2 weeks.

Really?

Do you really believe that?

Doesn’t that sound too good to be true?

Yes, it does… and it is.

Almost all of these hyped up products do not work

If it was possible, why would these vendors be sharing their loopholes with you?

They’d be laughing all the way to the bank. Not trying to get you to buy their products. Do not be misled by their fancy sales pages and sugar-coated sales copy. The brighter the picture, the darker the negative.

Making money online is hard work – and anyone who tells you otherwise has something to sell you.

Look Out For Blatant Signs

When you’re on a sales page, go ahead and try closing the page. If you see a pop-up box suddenly appear and it’s offering you a discount of a few dollars, that’s a sure sign that the product is best avoided.

This is not generosity on the vendor’s part. It’s a last ditch attempt to hook you in. Don’t eagerly grab the product just because you got $3 off and think you got a deal.

You didn’t. You really didn’t. You got scammed.

If you stopped for a second to think about it, you’d realize that people who didn’t try closing the page wouldn’t have gotten the discount and would have paid more for the product.

Does that seem legitimate to you? After all, you could have been one of them.

If that doesn’t sit right with you… then do you think the product will be any better than the disreputable tactics on the sales page?

Sure, there are attention-grabbing income stats on the sales page – but whose stats are these and where are they coming from?

You may see a bunch of smiling faces on the sales page, supposedly of satisfied customers – but why do they all look like stock photos? Who are these people anyway?

So many questions… so few answers.

See, it’s these questions that you should be asking yourself before you buy any product. You need to be a cynic par excellence.

This is NOT one area where you want to be overly optimistic. Scan the sales page like a hawk. Ask around about the vendor.

Exercise due diligence before buying. You could spend years and thousands of dollars spinning your wheels and going nowhere – trapped in a vicious cycle of buying products that are all foam and no beer.

Or you could stop buying products on a whim and proceed cautiously. There’s no need to kiss so many frogs to find a prince.

There are many good products out there that will help you in your online marketing. You just need to ask around for recommendations. If you follow the pointers in this article, you’ll most probably make an informed decision.

Caveat emptor.

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7 Ways To Cut Costs In Your Online Marketing

There’s a common misconception that you can make money online for free. This is possible but in actuality is very difficult to pull off.

In order to have control over your online business, you’ll need your own domain, hosting, autoresponder and so on. Leveraging other people’s web properties for free will mean giving up control of your content and so on.

Building your house on rented property is NEVER a good idea and this includes using social media, such as Facebook pages or groups.

So it goes without saying that you’ll be spending money to build a successful online marketing business. That said, it’s nowhere as expensive as a brick-and-mortar business.

In fact, with around $200-$500, you’ll be able to build your very own online business from scratch and bootstrap it up to a 5 or even 6 figure business.

Below you’ll find 7 tips to help you reduce your costs so that if you’re on a tight budget, starting an online business will not seem so burdensome.

Start Small

This is the most important rule of the lot. When buying a domain name, use an affordable service like Namecheap. Choose a 1-year plan rather than choosing 5 years just because you get a discount.

When choosing hosting, go with a starter plan and pay monthly rather than paying yearly because you want a cheaper price. Use good providers such as A2Hosting or Siteground.

This is what starting small is all about. When your business is doing well, you can opt for the annual payments to enjoy cost savings – but not when you’re a beginner who’s scraping by.

Don’t Follow The Herd

The online marketing space is filled with sheep who will jump on every bandwagon that comes their way. You need to be more astute and alert.

When you’re first starting off, you may need a page builder for your sales pages. Software like OptimizePress or Thrive Architect are one-off payments that are much more affordable than Clickfunnels or Convertri.

Yet, you’ll see marketers praising the latter 2 all the time. The question now is, “Are you ready for these expensive options if you’re a beginner?”

The answer is probably no. So choose the cheaper options that work for you and reduce your recurring bills as much as you can.

Track Where Your Money Is Going

If you’re paying by PayPal, most of your recurring bills will be automated and it’s easy to lose track of your pre-approved payments.

Make a list of all the monthly expenses in your online business. You may be shocked to find that you’re paying for services you no longer use. For example, you may have a Stencil or Snappa subscription, but you’re hiring graphic designers from Fiverr.

So you’re wasting money here. By tracking your expenses, you’ll eliminate wasteful spending.

Making The Most Of Free Trials

A lot of software, tools, etc. come with free 7-day, 14-day or even 30-day trials. Make sure you use these free trials to save money – but before you sign up, ensure that you’re ready first or you’ll be wasting the trial.

For example, if you have a 30-day trial for an autoresponder, make sure your opt in pages are ready and you’re getting traffic before signing up for the 30-day trial.

In this way, you’ll hit the ground running from day 1 and build your list instead of wasting precious days getting the other components in your funnel ready.

Quality Is Important

You get what you pay for. Sometimes, it’s better to pay more for a product to get a better service. You’ll often find cheap self-hosted autoresponders sold by dodgy marketers.

Their selling point will be that you only pay a one-time fee. That’s true. But once you start using their software, you’ll find that the cheap software breaks down or has atrocious deliverability rates and so on.

You’d be better off paying monthly for a solid service like Active Campaign, or Aweber or and you’d have not wasted money on junk. You must find the balance between cost and value here and it might not always be easy.

However, if these services are making you money, and, more importantly, more money than you are paying for them, they are an investment rather than an expense.

Shop Around For A Bargain

You may find that some infoproducts, courses, etc. are priced differently in different places.

For example, you may find a PLR store selling you a resell rights product for $9. That same product may be sold in another website for $3.

This happens all the time and is no different from a can of coke costing 3X more in a cinema than at a supermarket. Shop around and see if you can get the product at a cheaper price.

Look Out For Coupons

Another way to save money will be to do a Google search for ‘product name + coupon’. You may find coupons that help you get a few dollars off.

Always be alert. Sometimes software is discounted during times like Black Friday, etc. Now is the best time to grab the opportunity and save yourself some money.

But it is important to only buy things that you will use in your business immediately. Don’t grab a bargain just for the sake of it because the likelihood is that you will never use it and probably forget that you even own it!

Alternatively, you can contact the product vendors directly and ask for discount coupons, etc. Many vendors will accede to your requests if you’re polite. If you don’t ask, the answer is always no.

At the end of the day, you want to run a lean, effective online business that makes money round the clock without incurring too many costs.

One of the easiest ways to increase your bottom-line will be to trim your expenses and when you start looking, you may be shocked at what you are wasting money on!

Constantly look for ways to do this and your business will see higher profits and you’ll be able to earn more and save more.

7 Digital Product Creation Tips For Online Marketers

Anyone who’s been trying to make money online for more than 2 minutes would have heard this line repeated ad nauseam – “You need to create your own product!!!”

Maybe 2 minutes is an exaggeration, but you get the idea.

Most marketers worth their salt know that there’s good money to be made by creating and selling their own digital products. Affiliate marketing is good, but owning and selling your own products is even better.

If you’re competent at traffic generation, you’ll get to keep 100 percent of the profits from the sales you generate. You can also recruit affiliates to promote your products and expand your market share while skyrocketing your income.

Once you’ve mastered product creation, the possibilities are endless when it comes to boosting your online income. As good as this sounds, there are a few fundamentals that must be in place for you to succeed at digital product creation.

Is There A Market For Your Product?

This is without a doubt the most important factor of the lot. While creativity is a marvelous trait to have, trying to invent a new digital product that sells like hot cakes is infinitely more difficult than improving upon existing ones.

The case of not reinventing the wheel holds true here, and the key to succeeding with your digital product is to see what’s currently popular and selling well – and emulate these winning products.

You’ll create a similar product which addresses the same topic, but from a different angle. This is where your creativity needs to shine.

You MUST have a unique selling proposition (USP) that makes your product stand above the unwashed masses of products that litter the marketplace.

Both Nike and Puma sell athletic shoes, but the former tells you to “Just do it!” with a swoosh symbol, while the latter is the only major sports manufacturing company on the planet with no slogan but lets the logo of the powerful leaping puma say all that’s needs to be said about the brand.

Similar products… but very different USPs.

Spend time researching and making notes on what products are selling well and think of how you can improve upon them. Then go ahead and create a better product.

Spy On Your Competitors

Watching what your competitors do will help you navigate the marketplace and understand why some vendors excel and some fail.

Study their products, USPs, sales copy, sales stats (if available) and so on. Read through the customer reviews and see where their products are lacking.

Can you create a product that bridges the crevasse of customer dissatisfaction? If you can, you’ll have people flocking to buy your product.

Niche Down

Once you’ve done your market research, it’ll be time to niche down and create a product for a specific topic.

So many newbies falter here and make the cardinal error of trying to create a 5000-page magnum opus that aims to fix ALL ills in that niche.

Calm down. You’re not writing a dictionary. The best way to create a digital product that sells well is to target one specific problem and provide a specific solution.

Need to lose weight? Here’s a weight loss book with a 5-step plan. Want to get build a chicken coop? Here’s a manual with 50 chicken coop plans and instructions you can use today.

Specific problems and specific solutions. That’s your secret to creating a digital product that’s not only valuable, but doesn’t overwhelm the reader either.

Create A Customer Avatar

Your digital product is not the bible. It’s not supposed to be for everyone. You must create a product that addresses a specific type of person.

You’ll need to construct a customer avatar before you start working on your product.

For example, if you’re writing a weight loss book, is it going to be for women? How old will the reader be?

Is she going to be a stay-at-home mom or a busy career woman? Will she have a lot of time to exercise or will she need quick workouts that don’t last for more than 20 minutes?

So many questions and so few answers.

What do you do?

Simple. You hang out in forums where your target market congregates. Spend time reading their questions, issues, comments, etc. This will help you to understand their problems intimately and you’ll have a finger on the pulse of your market.

Now you’re ready to create a product that speaks to them better than their best friend could.

Structuring Your Content

This is the part where you create your product. It goes without saying that you should produce the best possible product that you can. Aim for excellence, NOT perfection.

Your content should be broken down into bite-sized chunks. Your entire book shouldn’t be one long never-ending paragraph. It’s better to have shorter, ‘compartmentalized’ chapters dedicated to specific topics.

If you’re using video, it’s ideal to break down a 1-hour long video into six manageable 10-minute videos. In our noisy world, so many people have the attention span of a housefly. So, you want your content to be short enough to hold their attention, but long enough to give them the information they need.

Provide The Content In Different Formats

Times have changed. PDFs alone are not enough. Some people prefer reading. Others prefer watching videos… and many like listening to audios.

This explains why even when you purchase a book on Amazon Kindle, there’s usually an option to get the audiobook on Audible.

Provide your digital product in different formats (text, audio & videos) so that you capture as many customers as possible without inadvertently excluding any. Of course, you may choose to sell your audios and videos at a higher price.

Know Your Pricing

Last but not least, you’ll need to price your product according to what the market is willing to pay. If you overprice it, you’ll alienate most of your potential customers, and those who do buy it may feel like they’ve not gotten their money’s worth because they expect a lot more.

If you underprice it, you’ll be devaluing your product and leaving money on the table.

It’s best to look at what’s currently selling well and jot down the prices. You can then charge a similar price and occasionally offer a discount to get more attention to your offer. Everyone loves a deal.

To conclude, once you have these 7 fundamentals in place and you have a great product to sell, you’ll then need to market it well… but that’s a whole different topic for another day. For now, get the product creation basics right and it’ll be half the battle won.

If you want to know more about creating a profitable online course, check out the featured resource below for a free report; download, read it and take action 😊