by Richard Glanville
How The “Product Life Cycle” Can Kill Your Online Business Have you noticed how many online marketers are telling you that you need Have you heard any good reasons for that? The one reason that I hear is that it will allow you to keep 100% of the Think about this. I don’t know about you but if a product is good and the There has to be another reason. Well, there is a very good reason why you should be able to offer a “unique” Having your own product may not even feature on the list. Every product goes through what is called a “product life cycle” that looks Introduction with high investment and minimal profit Point 4. would also explain why the creation of new products is necessary, Actually, it wouldn’t. As you read further into this article you will understand why new product In the first phase of the “Product Life Cycle” we have a product that The least expensive, and arguably the most effective, marketing that can Right now, you are about to learn the truth and power of the “Early Bird You must remember a couple of concepts here. The first being that in Okay, statistics show that if you want a good response on an offer, You shouldn’t. The only people that this might hold true for are ezine Your prospect is going to see the message from more than one source. The lessons to be learnt from this are: If you create a product, make sure you have an affiliate program. It Two things are happening at this point in time that you need to be very From this point of time in more affiliates will join the program. This is Eventually, the market will have received high exposure to the product. At this point in time, the creator of the product can start the cycle again by Although an affiliate as such is unable to modify the actual product, he
© Richard Glanville
http://www.statustron.com
Publisher@statustron.com
your own product?
profits yourself.
profit high enough, I don’t really care who the creator of that product is.
In fact, with master rights, I have a lot of exceptional products that I have
not had to research myself and I keep all the profits anyway. I even have
affiliates selling these products (and rights) for me.
product. The answer lies in a concept called the “Product Life Cycle”.
Once you understand the concept, you will understand why so many
marketers are telling you to get your own product and to develop multiple
residual income streams. Moreover, you will be able to separate the “chaff
from the wheat” and do those things that really need to be done.
a little like this:
Period of growth with greatest profitability
Period of maturity where sales rise but profitability weakens
Market saturation where decline commences
wouldn’t it?
creation may not be necessary.
has just been created. It needs to be marketed. As it is new, we expect to
spend quite a bit on advertising before it gains acceptance and we make
sales.
be done is to have someone else pay for the advertising. This is how
affiliate programs work.
Advantage”.
order to generate the maximum number of sales, a prospect needs to be
exposed to the sales message at least seven times. Secondly, we are
dealing with a new product. No sales messages have been sent as such.
you need to get your message out to the same prospect seven times.
Do you agree?
editors. Unfortunately, far too many editors will promote an item once
and then neglect to get the message in front of their subscribers again.
All they’d need to do to explode their profits would be to send “reminders”
out at least another six times.
It could very well be that you happen to be the seventh person presenting
the opportunity to a prospect and he buys from you. Right place, right
time. Happens all the time. If you happen to be one of the first promoting
a new opportunity, got in early and were prepared to stick around for a
while. That is the power of the “Early Bird Advantage”.
will save you a lot of money and sales will come in faster.
If you are fortunate to find a product that you believe in before it gets
rolled out, grab it and stick to it.
aware of.
First of all, the owner of the product is still busy building his affiliate base
and has not yet achieved maximum profitability with his product. Secondly,
affiliates had a relatively easy time with little competition for sales.
good for the owner of the program as more sales will be generated. There
will however be a lot of competition for the affiliates and those affiliates
who do not know what they are doing can expect less and less sales.
The inexperienced marketer had better hope that this product generates a
residual income!
Customers will have started to use the product and provide feedback and
the creator of the product will be made aware of possible improvements
that can be made to the product.
either offering an update on the product or by releasing a completely
new product that satisfies customer demand.
can change the packaging/ presentation, include bonuses and to some extent
recreate a USP for the product. These changes are in fact necessary for
an affiliate to stand any sort of a chance with marketing the product after
the initial roll out is completed.
What can be learnt from planning for the “Product Life Cycle”? Get in early with something you believe in and stick to it; Follow these guidelines for selecting those opportunities that you align To your success ----------------------------------------------------------------- About the Author
Richrd Glanville is a financial and marketing consultant to major role players in both theprivate and public sectors. With professional qualifications in both engineering and accounting he has recently added online marketing to an already impressive knowledge base and after more than 9 years of successful offline consulting has recently started to focus his attention online. He can be found at http://www.statustron.com
Think of a unique presentation for the product;
Build a referral base;
Make sure that your opportunity includes a residual income.
yourself with. It will serve you well.
Richard Glanville
http://www.statustron.com
Publisher@statustron.com
Richard Glanville publishes Home Business Tips, a fresh and
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