This month I’m in the midst of creating three new products (one for IttyBiz, two for clients whom I’m ghostwriting for) , and I’m reminded of how difficult it can be for people to choose which product they’re going to make next.
Generally, there’s never an idea problem – there’s a too many ideas problem.
I personally have a list of 22 products on my “would love to make” mind map, and there’s no way they’re all going to become real. From what I’ve heard from others, they’re in the same boat. How do you decide which one to make next? And what about the one after that?
It can be dizzying, and so more often than not, we can simply avoid think about it. Too complicated. Maybe later. (Unfortunately, that ends up being far later than we’d like.)
So today, I’ll share my 4-step process for choosing a “next” product.
Let’s dig in!
If you own Product In A Weekend, you’ll already be familiar with the concept of a “simple outcome” – a single, easy-to-achieve result that your product can help people achieve.
It’s the premise behind a gateway product – something low-priced enough to be easily accessible while providing a valuable simple outcome that makes it a bit of a no-brainer purchase.
These gateway products are a perfect way to get new people who have just joined your list to make an initial purchase from you. They may not be ready to buy your $297 course or your more expensive monthly coaching, but they can spring $27-47 on something simple.
Then, once they get to know you and trust you, it opens the door to higher-priced purchases later.
But did you know you can incorporate this approach in your larger products and offers – even if they’re in the 4-figure range?
You can. And you probably should. Here’s why.
When people (myself included!) are looking to make more money in their business, our thoughts tend to drift towards doing something new.
New products. New content. New initiatives like Facebook ads, podcasts, joint ventures, list incentives, etc..
Even rebrands are part of the almost automatic reflex towards “new”.
And that’s cool – there’s nothing wrong with doing something new, especially when that’s often a path to stepping up in your business or expanding your offerings.
But you can still make a lot of money with your existing products.
I’m launching a new product on Tuesday, and I’ve been working on it for the past few weeks. The product is all finished, and now I’m just working on writing the sales page.
(What’s the product about? Writing sales pages. How meta.)
Anyway, I’m like every product creator out there, and during the process of creating a new product, there are the inevitable ups and downs.
There are times when I’m all high-energy and excited (Whoo Kris!), and times when I’m staring at the computer, stuck and not knowing what to do next (WTF Kris?!?!).
Being stuck sucks. It makes simple tasks take so much longer than they should.
Sure, making a product involves a lot of steps, and there’s plenty of work involved. That work takes time.
But for me – and I suspect most of you reading this – that time is nothing compared to the amount of time spent feeling stuck, procrastinating and generally feeling anxious AF about the work itself.
If you don’t do something about this, that’s going to cause a multiplier effect that makes your product creation time take between 2 and 10 times longer than it needs to.
So I’m going to tell you a simple trick that I’ve used throughout this project to cut that multiplier effect down and help me build my new course in just a few weeks.
If you do this, every product, blog post or random project will get done so much quicker than usual.
There’s no one “right” way to name a product, but there are a lot of ways to choose a name that will make potential buyers more likely to buy from you.
Before you name your next product, consider the angle you want to take with your name and how that can influence your potential buyer’s critical first impression of your product. (You have more influence than you think!)
With a consciously chosen angle, you can spark interest, capture attention and trigger desire for your product even before a person knows what it is – because your product name instantly makes them want to know more about what it is.
When you can pull that off, you’ve started the pre-selling process, and the chances of that potential customer saying “yes” to a purchase shoots up significantly.
So? How do you create that critical first impression?
Here’s a selection of market-proven angles that you can choose from.