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.
Far too many people have a kind of “one night stand” relationship with their existing products. They create their products, launch them in a big hullabaloo, and then… they kind of gather dust.
A lot of this comes down to fear of re-promotion.
If you make a fuss about your product in January, and your list hasn’t grown significantly in 6 months, you’re probably not thinking “I know what I’ll do – I’ll try and sell this thing to the same people AGAIN!”
You got enough unsubscribes the first go-round. No thanks, you’re good.
You can re-launch your product and make good money doing it – if you find ways to add value for your customers in a way that’s relevant to their interests.
You may even make more money than you did the first time. It’s not the typical outcome, but it happens more often than you’d think.
All you need for your re-promotion is a good “reason why”.
Re-promotion requires a viable “reason why” that’s centered around the buyer.
Now, I know that you want to make good money for that product you worked so hard on.
But the buyer doesn’t really care. And they shouldn’t. They’re the buyer. They’re only going to exchange their money for things that are truly worth their while.
So your job – if you want to make more money from an existing product – is to brainstorm and toy around with ideas on how to make your existing product more “worth their while”.
Can I start you off with a few, to make that job easier for you?
There are a few simple ways to boost the value of your product so that you can promote it multiple times.
Let's look at the different things you can do to make an existing product more attractive to the buyer during a re-promotion.
Each of them has the potential to be a good enough “reason why” for a new promotion in the eyes of the buyer.
(Do more than one, and your odds of making more sales go up accordingly.)
And for the new people on your list – or new audiences you’ve gained access to since your original launch – these changes can create a far more interesting buying experience.
Here are a few things you can do.
1. Add to your existing content.
Go back to each component of your product and add 20-30% to what’s in there already. Create “new and improved versions” of each part.
This will give you a lot of things to talk about in both your sales emails, and on your sales page.
And over the course of time, as you’re doing this, you can drop little asides into your regular emails saying you’re working on a new version of the product. This helps to start creating curiosity and anticipation for it.
Tip: You can use The 1-Hour Content Plan to make a mini-content plan based off of a component of your product, and you can use that as the basis for coming up with new expansions to your existing content.
2. Add brand-new content.
When you initially created your product, there were probably a few things you wished could have been in there (but didn’t make the cut due to time constraints).
Add a few of those now. Brand-new things that enhance the value of your product for the buyer, but don’t require building a new body of work from scratch.
These could be templates, resource guides, tutorials, audio or video components – anything new, and interesting, and valuable to the buyer.
Tip: You can use Product In A Weekend to quickly create new modules or resources for an existing product.
3. Improve production quality.
When the physical products you buy everyday say things like “Brand-new look, same great taste!”, it makes a difference for the buyer.
Better branding, better images on your sales page, better production quality of each component – it’s an upgraded experience for the buyer, especially when combined with the items above.
Tip: You can use the “Big Branding, Small Budget” guidebook in the IttyBiz Freebie Vault to come up with easy and inexpensive ways to boost your production quality quickly.
4. Source new testimonials and case studies.
Get in touch with your original buyers list and get some feedback on your original product. See if you can get them to say a few kind words that you can use for a testimonial.
For people who made very good use of your product, ask them if they’d be willing to do an interview with you for a case study. Often they’ll say “yes” right away, and then you have a success story for your product that you can feature any time you want.
Once you have these, you can work them into your sales page or include them in the sales emails you’ll use during your promotion. (Case studies also make fantastic blog posts.)
5. Offer a time-limited bonus.
You can also use Product In A Weekend to create a bonus for your product that will only be available during the promotional period of your product.
Some people find this a little weird, because the idea of creating a piece of content that will enhance the value of the product – and then not including it afterwards – seems like it will devalue the product.
You can get around this by making your bonus complimentary to the product, rather than “necessary”. Something that adds value on another front.
So if you’re re-promoting a nutrition course, your bonus could be an “easy exercise guide” that goes away after the promotion. It has value as an add-on, but it’s not core to the original product itself.
Don’t forget: When you’re done, improve your sales page!
Save this one for last – once you’ve finished making your product more attractive to buyers, go back to your existing sales page and make some improvements there.
Switch out the images for better branded ones. Highlight the new features (and the new benefits of those features). Add those testimonials or mini-case studies.
These little changes will boost the conversion of your page, which means more sales for you at the end of the promotion – and, frankly, forever.
You can always make more money off of your existing products.
Over time, your buyers list will grow, which means more people can say nice things about their experience with your product.
You’ll also get better at what you do, so you can continually enhance that product with the new knowledge and wisdom you acquire.
And you’ll always get new people on your list, or new followers on social media platforms.
All these things come together to create fertile ground for continually tapping in to the revenue potential of your existing products.
So don’t look at your products as a “one night stand”, or something you only give attention to when you need money in a hurry.
Keep your relationship with your existing products healthy and active, and you’ll develop a relationship that will be profitable for a lifetime.