Product Creation: How to Generate High Revenue Ideas #5
This product creation idea is one that you’ve seen done thousands of times, although you may not realize it… and it’s sooo simple!
Take an idea that is currently working in one market or niche, adapt it, and move it to a different market or niche.
For example, there are lots of different service industries that are looking for ways to generate more business, leads, or profits… like carpet cleaners, travel agents, Realtors, mortgage brokers, beauty salons, network marketers, home improvement contractors, interior decorators, landscapers, etc.
Let’s say you created a guide titled, The Landscaper’s Guide to Generating More Leads and it’s selling like hotcakes to the landscaper business niche (Yes, I know my example title isn’t great, but it’s just an example!) You could easily tweak that guide to apply to a lot of other industries:
- The Carpet Cleaner’s Guide to Generating More Leads
- The Travel Agent’s Guide to Generating More Leads
- The Realtor’s Guide to Generating More Leads
- The Beauty Salon Guide to Generating More Leads
- The Network Marketer’s Guide to Generating More Leads
- The Interior Decorator’s Guide to Generating More Leads
I’m sure you get the idea. It’s really easy to take an existing product that works in a different market and adapt it to fit other markets… and savvy marketers have been doing it for years!
Think about all of the “For Dummies,” and “101 Ways to” books on the market. This is an excellent product creation idea!
Product Creation: How To Generate High Revenue Ideas #4
If you stop and think about it, most products on the market in most niches and industries can easily be made better. This is especially true of information products, making this a perfect product creation idea!
That means that finding and creating great new product in your niche can be really easy if you’re willing to take an existing product or concept and improve it or make it better in some way.
For example, let’s say that you stumble onto a very popular guide about poodle training. It’s selling like hotcakes for $97. (I don’t know why anyone would actually pay that much for a poodle training guide, but this is just an example.) If you also operated your business in the poodle industry, you could take a look at the guide and analyze it for product creation weaknesses.
Product Creation: How To Generate High Revenue Ideas #3… Change Up The Format
When it comes to product creation, one of the biggest myths is that you have to develop something completely new in order to be successful.
That’s simply not true.
Often the surest strategy for creating a high revenue product is to take a look at other successful products in your industry.
Product Creation: How To Generate High Revenue Ideas #2
Today I’m continuing the series I started yesterday on product creation with idea #2…
Build an information product around another product.
This idea works really great with software. The idea here is to create a product that shows people how to use something else… like software. If you’ve been to the bookstore lately and seen all the books dedicated to Windows, Photoshop, or some other software program then you get the idea here.
Of course, this product creation idea isn’t limited to software.
- You could build an information product around a particular piece of equipment like an embroidery sewing machine, camera, table saw, etc.
- You could build an information product around a special product like cleaning supplies, plant food, critter repellent, etc.
- You could build an information product around a service like credit repair, job recruiting, car repair, etc.
Look closely at your target market… You’re bound to find great products that you could supplement with an information product.
Product Creation: How To Generate High Revenue Ideas #1
I’ve been wanting to do a series on product creation and how to generate high revenue ideas for new products for a long time. So… there’s no time like the present.
Hopefully this series will spark some really great ideas for new products that you can create in your industry or niche.
Product Creation Idea #1: Solve A Problem For Your Market
Just about every niche and industry has it’s share of problems. Do a little research into your target market and you’re bound to find all kinds of things that cause those people problems, irritations, annoyance, cost them money, waste time, etc. You just have to find out what those things are.
For example, in my area there have been a lot of commercials for a product that clips dog nails without causing any comfort to the dog. I’m sure you’ve seen it… it’s called Peticure and it’s a kind of rotary tool that grinds down the nail.
Now, these commercials have been running for months, so they must have found an audience for the product and are selling enough of them to warrant the television time. So now let’s reverse engineer this product creation.
Thank You Page Turn-Offs
Today I purchased an affiliate marketing product that I planned to review and I came across an extremely irritating online marketing practice that I’ve seen all too often. It’s the multiple part thank you page. Here’s how it works: Read more
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