The Life Cycle of Online Products

Like many things, products go through a cycle during their effective lifespan. These cycles are regular and predictable. A formal life cycle can help build an understanding of the pattern of stages that a product goes through.

There are many different life cycles each based on the focus and pattern, which the author is observing. In this article, I’m going to share a very detailed nine-step life cycle of an online product.

1. Plan

A good online product begins with a plan. The plan details much of the background information required for the online product. However, only the requirements for the product are provided.

2. Design

In this stage, the requirements are given form. The online product that was described in the plan is defined in detail. A detailed outline of the product is produced.

3. Produce

This stage varies depending on the media of the online product. For example, an eBook is written at this stage. A teleseminar on the other hand may be written but it definitely is presented and recorded.

4. Package or Publish

The online product is still in a rough state at the start of this stage — although it is in fact complete. This stage polishes the product and adds elements that turn it into a professional, salable product. For example, a video will have opening and closing credits added and a cover designed.

5. Generating Traffic

At this stage, the product is available. However, sales are not actually occurring. Instead, traffic must be generated in order to ensure that sales are sufficient to justify the costs so far. This is often referred to as a pre-launch stage although it can occur after the launch.

6. Marketing and Selling

At this stage, the product is available and the traffic has reached a stable point. Sales are reasonably stable. In this stage, the marketing emphasis has switched to finding the right types of traffic, rather than the growth focus of the previous stage.

7. Declining Sales

After a period of time, almost all products begin to experience a decline in sales. This may be because of market saturation or real or perceived obsolescence.

8. Bonus

Finally, the sales have dropped to the point that marketing and sales efforts fail to produce sales. At this point, the product is retired from sales. However, it becomes available for use as a bonus to support the sales of other products.

9. Retirement

Eventually, a product will cease to be of value even as a bonus. At this point, the product will be removed from the products for sale list.

How to Offline Market Online Products

Hello, in this article I will tell you about my first experience with offline marketing online products.

Maybe you already are an online marketer or perhaps you’re interested in becoming one? What you should know anyhow, if you don’t already know this, is that there are a variety of effective ways to promote online products other than sitting inside with your computer posting links on Twitter or Facebook.

I thought it would be interesting to go outside and meet people on the street, in shopping centers or any other random place, and just simply talk to them about being an online marketer. I wasn’t sure how to go about it at first but I finally dared to dive in and embrace the challenge. I’m not sorry! Some people seemed genuinely interested and others probably didn’t even take me seriously at all. One guy was even downright rude, like I was annoying him by breathing his air or something, so you really have to be able to handle all sorts of reactions.

Anyway, the hours literally flew and for the most I had lots of fun talking to people about online marketing and what it’s all about. Surprisingly few knew anything at all about what it is; only 1 out of 20 perhaps had a clue to what I was talking about. So I feel like I have at least spread the word around a bit.

It gave me a challenge to try to explain in a simple fashion to not scare off potential customers with too much information at once. There’s a huge amount of info on the topic so the key is to try to keep it as simple as possible. My goal was and is to spike the interest of them becoming online marketers themselves, since the product I’m promoting in fact is an online marketing training program. So plant the seed and if it grows that’s great, if it doesn’t… well you can’t force it! You’ll just have to improve your skills.

At first it was difficult because I wasn’t sure where to start or exactly what to say, but as I talked to more and more people I felt more relaxed and words started flowing easier after repeating myself 50 times. I had printed out some business cards and flyers on forehand and they came in very handy. I found it a lot easier if I had something to presents while giving my little speech. It also seemed to make people more interested in what I had to say.

By the end of the day I had hung up 5 flyers with tags you can rip off at the bottom, had talked to maybe 50-60 people and handed out lots of business cards. I call that success, and even though perhaps only one or two of those 50-60 people I talked to buy the products, that’s money in the bank and the word is out. People like to talk and may pass the information on to someone else who in fact is interested.

So this was kind of like my test drive just to see if the effort could amount to something. The next place I feel may be a big hit is the University. Lots of students who would love to make some extra cash. Think I’ll give them a hand!

This is only one way of marketing online products offline; In the future I’ll be trying out more ways to “offline market” online products, and perhaps I’ll even get creative and think of some more methods along the way!

Building a Catalog of Online Products

How many times have you heard that you must have your own products in order to make money online? How many times have you seen someone offering a course on how to make big money writing eBooks? How many times has something about the pitch just seemed wrong? Or at least sounded a little like snake-oil?

Well, you’re right to question the concept.

Yes, you really do need to have a list and your own products in order to make the big money in internet marketing. But you’re never going to make a fortune with a single eBook. Sorry, it isn’t going to happen. At least it isn’t going to happen to the vast majority of us.

In order to make money over the internet, you need a catalog of online products. Not just one product but a line of related products. After all, once you sell one product to a person and turned them into a rabid fan, wouldn’t it make sense to try to sell them more products? In any other market that’s where your major sales come from. And the internet really isn’t any different. But to do that you need a product line, meaning a catalog of related online products.

But how do you do this?

In this article, I’m going to explain one technique for building a catalog of online products.

Creating an online product always begins with an analysis of your customers. It can be existing or it can be a predicted customer. In any case, you need to develop a picture of your target customer.

Once you’ve done that you need to identify their motivators. What is it that will make them want to buy your product? What problems are they facing? What is going to happen in their future that they want to avoid? What would they like to happen?

Step three is to determine a solution. How can your topic or product solve their problem? How can you create a teachable system for solving their problems, achieving their goals or avoiding their fears?

Okay, now you’ve got something to sell them. All that’s necessary is to turn it into a product. Or two. Or three.

Start by identifying what products you need to create to support this line. What will be your freemium? What will be your introductory product? What will be your midrange product? What will be your high value product? Now keep going. What will be your marketing products?

Now that you’ve got one product line defined it’s time to consider the rest of your catalog. Start by going down. How many other people can you sell this product to with only minor adjustments?

Then go wide. What similar products can you create that your customers might like?