Listen up; this is important. It’s one of the most powerful marketing concepts out there and something that could become a game-changer for you. For example, it’s much easier to sell ten products to one customer than it is to go out and find 10 buyers. In other words, it’s much easier to create a second product and sell it to your current customer base than it is to go out and market to new people.
That’s why one of the quickest and easiest ways to increase and even double your income is to create a new product. Find out what your audience needs next. What else are they struggling with? What’s the next step they should be taking to reach their goal? Talk to your customers and do a bit of research in your niche. I’m sure you’ll come up with all sorts of fun and creative product ideas. Pick one and get to work.
You’ll find that it’s much easier and quicker to create that second product than working on the first. You know what you’re doing now. And guess what. It will get even easier the third and fourth time around. Plan to create a whole series of products that help your customers reach their ultimate end goal. When you start to run out of ideas on what they should be doing next, think about related topics. For example, once you’ve taught your tribe everything you know about list building, branch out into social media or copywriting. If you’re teaching them about container gardening, consider branching out into composting or food preservation, for example.
Finish that product and get it up for sale. Then email your list of existing customers about it. Don’t be surprised if the majority of them will buy from that one email. That’s right; you’ll start seeing quite a few sales from that one email. Compare that to all the work, effort, and time it took to find those customers in the first place. Doesn’t that want to make you get to work on the next product?
Of course, the benefits of adding a new product don’t end there. Start promoting the second product the way you did the first. Send an offer for it out to your list of leads. Mention it on social media. Link to it from existing content on your blog. Mention it in guest blog posts and podcast interviews. People who weren’t interested in your first product end up picking up this new one, resulting in even higher profits. Try it and see for yourself.