Don’t even think of creating another product until you read this…

By: Dan Kennedy on: June 25th, 2016 4 Comments

One of the things I talk about a lot is having systems in place so you can do the bulk of the work once. This saves you time, delivers predictable and proven results and prevents you from having to continually reinvent the wheel.

But it’s not just your marketing that needs systems in place.

When creating products, a product-creation system will help speed the process and ensure that you can consistently produce GREAT products that generate handsome profits to you and add to the long term solvency and value of your business.

So in looking at what should be in this system, if you ask business owners to list the most successful products they ever created, many will judge what goes on the list by choosing what sold the most units and earned the most money.

That’s not what I’d do though.

Over the years I’ve created hundreds of products, including multi-million dollar plus income earners.

But I’ve found that while making money is favorable, looking at the success of a product purely on the amount of money it generates is more of a short-term thinking approach.

I can list products I’ve created that haven’t necessarily made me a lot of money in terms of dollars directly earned from the sale of them, but due to other factors they have been indirectly responsible for a great deal of income long-term.

For example, my book the Ultimate Sales Letter. The sale of this book alone is not going to make me rich. But it’s done a lot for me and I would list it among the GREAT products I have created.

Magnetic Marketing is something that has been a best seller–and continues to be a best seller for me even 20+ years after creation. This has certainly been a great income generator, but it also has done much more over the long haul.

So when creating (or for that matter evaluating) a product, some things you’ll want to consider about the makeup of your product are:

1) Does it attract really good customers? You might have a great product but if it’s attracting the wrong clients, customers, or patients, how valuable is it to you in the long run? Create products that attract your ideal best customer.

2) Does it create lifetime customers? A lot of businesses ask themselves, “What can I do that is fast and cheap and makes me a lot of money quick?”

However, I’d suggest a better course is to create a product that is going to develop your relationship with your customer and set them on the path to become customers for life.

If you ask a lot of GKIC lifers how they came into the herd, you’ll find a lot of them say they read The Ultimate Sales Letter, The Ultimate Marketing Plan, or purchased Magnetic Marketing. In addition to delivering things that get REAL results for people, I use consumer psychology that develops my relationship with readers—which is what it takes to get people coming back for more.

3) Does it grow a loyal “herd” of repeat customers? When you focus on making products as easily and cheaply as possible, you jeopardize keeping customers.

Products that deliver a lot of value will help you grow a hyper-responsive list and loyal customers—THE most valuable asset in ANY business—online or offline.

So every product you develop, you want to put your best foot forward to avoid winding up with a diseased or inferior herd or low value herd and instead end up with a high quality herd that not only will buy from you again and again but that will refer you to others.

4) Does it provide an asset for your business? A product that has longevity and continues to sell for you year after year is a valuable asset. (Tweet this!) Not only does it provide you with consistent, reliable income (and even a consistent flow of quality leads for additional products or services), but it can help you sell your business for millions.

P.S. – Get “The 10 Rules to Transforming Your Small Business into an Infinitely More Powerful Direct Response Marketing Business” for FREE. Click here to claim your customer-getting, sales-boosting tactics.

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    ABOUT THE AUTHOR:

    Dan Kennedy is internationally recognized as the 'Millionaire Maker,' helping people in just about every category of business turn their ideas into fortunes. Dan's "No B.S." approach is refreshing amidst a world of small business marketing hype and enriches those who act on his advice. For more money-making marketing tips, tactics and strategies, go to www.GKIC.com

    4 Responses

    1. David Hunter says:

      Thanks for the tips!

      I just created an advertising business co-op which I’m now getting clients for it, but the goal is to turn them into coaching/consulting clients and move them up the ladder. I know they won’t all become clients, and I won’t want all of them as clients, but it’s all about creating the lead generation magnet and moving them up the ladder!

      I absolutely love The Ultimate Sales Letter, The Ultimate Marketing Plan, and Magnetic Marketing!

    2. Mike Searles says:

      Yep – I also landed on ‘Planet Dan’ after first reading Ultimate Sales Letter.

      Next came the reading of The Ultimate Marketing Plan plus umpteen articles and other stuff.

      Then GKIC Gold Membership which gives me the monthly Marketing Newsletter in the mail (worth it’s weight in Gold — pun intended).

      Followed by Magnetic Marketing.

      Where do I get the MOST value from Planet Dan to date? The newsletter.

      Incredibly concise, advanced and complete money-making ideas in every issue!

      If only you (Dan Kennedy) went online — you’d read this 😉

    3. Hi Dan,

      Great stuff!

      Let me ask you this: When it comes to your books, would you say that, even though they are great products, they are not what you focus in on promoting?

      Instead, you are emphasizing that we as business owners need to focus on offering our most expensive and most valuable products or services over highly promoting our least expensive products or services?

      I would agree that doing that would be the best way to generate a huge amount of revenue fairly quickly, but can those “cheaper” products or services have some long-term value in the end?

    4. Marie Jones says:

      If product can sell for you year and after year, it can be one of the best valuable assets.

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