In this video series you’ll learn about repeat selling and why every infopreneur needs to have a variety of products ready to offer their customer base. You'll also learn how to create and submit your new products to ClickBank for approval.
Video 1: Introduction
Video 2: Case Study & Brainstorming
Video 3: ClickBank's Product Approval Process & Launching Your New Product
Why Every Vendor Should Create Additional Products
If you’re reading this article, you’ve likely already got a product up for sale on ClickBank. If so, congratulations! You’ve taken a big step towards becoming successful as an inforpreneur, and are already ahead of many people who never get a product out there.
It’s not time to rest on your laurels yet, though! As you’ll see soon, you could be leaving a LOT of extra money on the table by only having one product to offer your customers.
One of the goals of an infopreneur is to be seen an expert in their niche. The best way to build your credibility is to create a variety of products within your niche that you can offer your customer base. Not only does your credibility as a leader in your field increase, but so could your profits. Imagine the potential of being able to offer a single customer an assortment of products. $300,000 – That’s the amount one ClickBank vendor left on the table last year alone by only having one offering available to his existing customers.
As you know, one of your most valuable assets as an infopreneur is your customer email list. Not only do you know the list contains targeted leads, you know the people on this list are real buyers who have shown an interest in you and your product.
Don’t waste your list! Have new products ready to offer them after their initial purchase so you can earn additional revenue off of that one customer again and again. ClickBank accounts were built to allow vendors the opportunity to offer a wide range of products. One account allows a vendor to sell up to 500 different products.
The Benefits of Selling Additional Products
There are lots of great reasons to create and sell additional products to your customers, but here are just a few to get you motivated:
- Make more money from existing customers without much additional effort
- You can do less “selling” because customers already know, like and trust you
- Establish yourself as an authority in your niche
- Having more offerings lets you meet the needs of more potential customers (if they’re not interested in one product, they may be interested in another)
- Acquiring new customers costs 6 to 7 times as much as retaining and growing existing customers
OK, Show me how it’s done…
This page offers a variety of products for customers to pick and choose from. This vendor continues to offer additional products in the member’s area after purchase, in case the customer eventually wants to buy more products.
How do I come up with ideas for additional products?
Ask and you shall receive!
Don’t be afraid to ask your customers directly, “What would you like to see more of?” “What additional information do you need in relation to this topic?” “What format do you prefer this content be delivered in?”
You can contact them via email, send them a survey or a poll… whatever you think would work best.
When you respond directly to the needs of the customer, that customer will be more likely to purchase additional products you create.
Research! Check out Amazon.com and look at products that are similar to yours.
What do the negative reviews say about these products? What did these products not include that customers expected to receive? Use that information to determine the kinds of content you can create for your customers.
If you believe you have the ability to create fresh content on an ongoing basis, consider creating a recurring billing product. If fresh content is an issue, perhaps you can create a piece of software, plugin, tool, or database product. See the Training: Using Continuity Programs for Ongoing Income article for more information.
Do’s & Don’ts…
DO create content in a variety of formats! Not all customers learn best in ebook form. Some respond to audio, video, or a product that delivers a combination, like an ebook and a video. Try and provide an array of product formats to attract each type of customer.
DON’T limit yourself. Think about how you could supplement your existing product’s information to benefit your customers even more. If your original product is an ebook on losing weight, consider the following additions: an ebook containing healthy recipes and shopping lists; a video series of exercises; an audio file containing interviews with people who have gone through the process. By thinking about the ultimate goals and outcomes your customers are looking for, the possibilities for creating additional products are nearly endless!
DO consider using recurring billing! Recurring billing is a great way to earn continuous revenue from one customer while you work on creating new content. For more information on recurring billing, see the Training: Using Continuity Programs for Ongoing Income article.
- Brainstorm additional products you can create that will complement the initial offer. Remember to think about the ultimate goals and outcomes your customers are looking to accomplish.
- Create the product(s).
- Use the instructions in the Creating Your First Product article to submit your product for approval (if necessary).
- After approval, brainstorm strategies on how you can offer the products to your customer base.
- Training: Improve Your Sales Conversion Ratio – This training article explains how to increase the portion of your potential customers who make a purchase.
- Training: Using Continuity Programs for Ongoing Income – This training article explains how to make money from recurring products.
- Training: Promoting Other Vendors' Offerings to Your Customers – This training article explains how to boost your conversions and sales by promoting other vendors' products.