To get started in Internet Marketing, many new marketers will first turn to affiliate marketing as it is easier to start. But eventually you will want to think about creating your own products to sell. And even though there is some work that is involved, an initial outlay of cash and time, the long term benefits for your internet marketing business make it more worth. Let’s look at some good reasons why you should create your own products:
1. Establish control over what can be done with the product.
It will be your product and you can do what you want. This is your VRE, baby. How about selling a bunch right now and maybe use it as a bonus to another product later- especially as a bonus to a big launch product that some guru is doing and you’re an affiliate for. Later you might want to sell it at a special price when you want to make some extra money for that next vacation or bundle it with another of your products for a BOGO (Buy one get one free) and even further down the line you could offer it as a freebie in a Giveaway to help build your list.
2. You control the price of the product.
By virtue of it being your own product you and only you can be the determining factor as to the price. You will probably want to go with what the market will bear and not set some extreme out of this world price. But you also do not need to go cheap with it. And besides sometimes people equate cheap price with a cheap product. Why not test it at different price points and pick the price that converts the best.
3. Make more money with your own product.
Yes, you will make more money from your own product because you can keep 100% of the profits if you desire. You will even make money with your affiliates as they will be doing most of the marketing and selling for you – and take their cut. But looking at the whole picture, by creating your own product you have become the expert. This means you are branding yourself, becoming well-known in your field and ultimately selling more of your product and future products you will produce.
4. You have the final word about what’s inside the product.
When you are an affiliate selling some one else’s product, you might not agree with all that is being said in the contents. And it might not fit your style. And you might find that affiliate product that you just know if you could change a few things you could make it better. But it will drive you crazy because you can not do a thing about it.
In the beginning most marketers will do a combination of the two, affiliate marketing and selling their own products. As you become more proficient at affiliate marketing, it could eventually become a “set and forget” activity. So, that actually should enable you to spend more time in theory putting your own product together. Remember, creating your own product does not have to be from scratch though. Think of it as art, take a big mold of clay – PLR – and mold it into some worthy piece of art. You can then put your name on it and it’s time to get busy.
November 9th, 2009 at 10:51 am
Creating my own product seemed at first to be “a step too far.” But once I put my mind to it, it wasn’t so bad. I had originally thought I would sell it, but then realized in my case that I would be better off giving it away.
It became the major tool to building my list – it was unique – it was different and it was focused on my niche.
November 9th, 2009 at 7:52 pm
The big factor is that with your own product you get to build a buyers list that is more powerful because they have already bought your suff from you.
November 10th, 2009 at 1:07 am
Good ideas. One big issue for me is allowing me to do whatever I want with the product. I can master resell right products or private label right products, but many times there are restrictions on what I can do with it, so my own control is important.
November 14th, 2009 at 5:24 am
Another major benefit to having your own product is that you can use your affiliate links for any products you recommend in the e-book, and can suggest related resources you sell in it as well, thus creating back-end sales you wouldn’t necessarily get as an affiliate.