The longer I work online, the simpler everything becomes. All the “shiny things” lose their appeal over time, and at the end of the day you find that making money online all boils down to adhering to a few key principles that always work.
One of the most basic things you need to start a good business is a high quality product. While market research, keyword research, copy writing, traffic generation, sales funnels, and the like are all very important components of any online business, I’ve found that they all become a little easier when you’re building off of a solid product you have faith in. It just makes it easier to do all that other stuff when you’ve got confidence in your ability to deliver on the promises you make when selling to your market.
One of the big draws for affiliate marketing is that without doing any product development, or customer support, you can create a website to pre-sell someone else’s product. So rather than creating value, countless thousands of internet marketers have chosen to go for the quick cash as an affiliate, only to fizzle out for lack of having their own audience, customer list, brand, and the like to build off of when major traffic giants like Google decide to slap them.
Which leads me to today’s post topic: Buying sites with great products! Remember those basic principles I spoke of earlier? One of them is that it’s usually better to buy than to build. (not ALWAYS of course). A huge hindrance to becoming a product vendor is its sheer difficulty for most people. In reality, creating products (especially info products) is pretty easy…but creating GREAT products can be very difficult, no matter what format you create them in.
One solution is to buy them! When browsing online marketplaces, I am of the opinion that most website investors think too narrowly…They look at the numbers, and if the site has great traffic and revenue, they’ll look into it further. If not, the site gets passed up. But buying websites is a great solution for more than ROI. It’s also a great solution for acquiring business building blocks, like a great product.
So, what makes a great product? Here’s a few of my own thoughts…
1.) Great products over deliver on any promises their sales messages convey. Which means the product should make writing your sales letter EASIER! You should be able to confidently look your prospects in the eye and tell them your product will fix their problem or they don’t pay.
2.) Great products come with everything the customer needs. In other words, all inclusive…nothing else needed to buy to achieve the desired end result.
3.) Great products are easy to use (or follow if it’s an info product). When buying a website for it’s original product, sometimes this is where the fix needs to happen. The product could be amazing, but if it’s a 500 page PDF file, think about converting it to video.
4.) Great products create traffic. The product should cause the customer to tell their friends and family how awesome their experience was, and create viral traffic from satisfaction. If a site you’re looking to buy has the above characteristics, but little viral traffic, perhaps you just need to build in mechanisms that make it easier to share via facebook and twitter that aren’t already there.
5.) Great products are mostly evergreen. They are tried and tested, and aren’t going to be obsolete in 3 months. You’ll be able to sell it for a long time to come.
A lot of things go into making a product great, these are just a few I had off the top of my head. Perhaps being a vendor is the missing piece in your online business? If so, I’d encourage you to look for sites with high quality original content you can use as your own.
What do you think? Tell us what makes a great product…
One place a lot of people look to is CBengine.com. Look for clickbank products that have expired due to lack of sales. Contact the owners and make them an offer. Ask to see the products. You may be pleasantly surprised.