agenda – day one how to choose a topic structured process for building products designing your...
TRANSCRIPT
Agenda – Day one
• How to choose a topic
• Structured process for building products
• Designing your product
• Building audio products
• How to run an event
Agenda – Day two
• Building text products
• Building video products
• Finishing and producing products
• Other quick ways to build products
Market first
Criteria to choose a market
• Potential customers are hungry for information about the topic (cure, not prevention)
• You have an “inch-wide, mile-deep” niche rather than a general topic
• The market is large enough for the maths to work (depends on conversion rate and price)
Criteria to choose a market
• Potential customers are willing and able to spend money on the topic online
• There is a unique story or hook
• You are able to differentiate from the competition
• You are able to differentiate from the free information available
Criteria to choose a market
• Market is easy to find (you know where they hang out)
• There are existing databases of your clients that you can access
• Low advertising costs
• Market is not highly regulated
• Risk of litigation in the market is low
Criteria to choose a market
• Easy for you to find or outsource content
• You’re interested in the topic
Once you’ve identified the topic, test it with a survey site or pre-sale.
Using a project planning and
management process to build products
Key concepts:
• Build a product that’s outstanding from the competitors.
• Build a product that exactly meets market needs.
• Use a structured process to build a great quality product quickly and easily, with minimum re-work.
Project management steps:
• Design
• Plan
• Implement
• Complete and evaluate
Step one – Design:
• Now – what already exists?
• Where – what will meet the customers’ needs? What are the goals?
• How – what will we build?
“Now” questions:
• Who are the customers?
• What are their needs, wants, fears and frustrations?
• Who are the competitors?
• What else is being sold in the market, and for what price?
• What free information is available?
“Now” questions:
• What is your story or hook that makes you stand out from the competitors?
• What is your level of expertise in the topic?
• Do you need input from other experts in the topic area?
• Who are the other experts in the topic area that you could approach?
“Now” questions:
• What are your customers’ preferred learning styles?
• How much time do you have available to build and deliver products?
• What is your budget for building products?
“Where” questions:
• If you were a customer and you had a magic wand what product(s) would you create to exactly address your needs, wants, fears and frustrations?
• What is your income goal from this product?
How process:
• List all the possible components of the product based on the “Now” and “Where” analyses.
• Choose the best components using the impact / ease grid.
• Ensure it is overwhelming value.
How process:
• Decide on the price point and ensure that the maths works (price should be 4-10 times cost).
• Identify the sources of information for each component.
• Decide what upsells or embedded offers you’ll include.
How process:
• Decide what delivery methods you’ll use.
• Prepare a high level action plan (6-8 steps) and decide on the overall timeframe.
Step 2 - Plan:
• Prepare a more detailed action plan, with defined outcomes, timeframes, responsibilities, and costs.
• Base this action plan on the high level action plan prepared in the previous step.
• Take each of the 6-8 steps of the high level action plan and break them down in to manageable, bite sized actions.
Step 2 - Plan:
• Start each action with an imperative verb (eg develop, transcribe, record).
• Ensure each action has a well defined, measurable result (eg “find 7 experts in non-competing areas willing to provide 45 minute audio interviews on xyz topic” rather than “find experts”).
• Modify if needed, to meet time and budget requirements.
Step 3 - Implement:
• Carry out actions as written in the planning stage.
• Monitor that standards, time and cost are being met.
• If time and cost are not being met, adjust as needed.
Step 4 – Complete and evaluate:
• Finalise all steps.
• Compare the quality of the product, time taken and cost with what was originally planned.
• Send copies of finished products to contributors.
• Provide feedback to suppliers (eg graphics, fulfillment).
Exercise:
Design your product
Building products
Product formats:
• Text
• Audio
• Video
Advantages of text:
• easy to produce
• easy for people to download
• low tech
Disadvantages of text:
• can be time consuming to prepare
• can look bland or be perceived as lower value
Advantages of audio:
• quick to make
• equipment / software is simple and cheap
Disadvantages of audio:
• can be hard to get quality just right
• clients may not be able to access it so need to provide support
Advantages of video:
• relays your message in an easy-to-learn way
• can look impressive
• high perceived value
• can use the video to produce audio and text
• once it’s set up you can produce large amounts of content quickly (eg event)
Disadvantages of video:
• can be expensive
• can be a hassle and time consuming to set up at the start
• requires some specialist knowledge
• post-shoot editing can be time consuming
• requires more equipment
• harder to deliver due to file size, so may need more customer support
Building audio products
Types of audio products:
• Record yourself talking about a topic
• Read out your text material, or get voice over artist
• Interview experts
• Run teleseminars
Methods and equipment to record audio:
• Digital recorders
• Acoustica
• TRX recorder
• Skype
Editing audio:
• Acoustica
Adding royalty free music:
• www.royaltyfreemusic.com
Key performance indicators for
membership sites
Weekly KPIs:
• Total number of paying members
• Eclass topic
• Key marketing strategies being implemented
Monthly KPIs:
• Number of new members this month
• Conversion rate (paid list / free list)
• Opt in rate (# names and emails / # visitors to landing page)
• Number of unsubscribes and any trends
KPIs per campaign:
• Campaign strategy
• Number of new members
• Conversion rate
• Stick rate (unsubscribes and refunds / # new members)
Key performance indicators for ebooks:
See eclass #15
Interviewing experts
How to run events
Building text products
Types of text products:
• Write it yourself
• Get a free-lance writer
• Use Debbie Dragon ([email protected])
• Transcribe your audio or video
Tips for writing the product yourself:
• Tip 1: Do your research
• Tip 2: Use a “top down” approach
• Tip 3: Write the way you talk
• Tip 4: Use active language
• Tip 5: Use lists and bullets
• Tip 6: Make it clear and simple
• Tip 7: Format headings and text
Getting a freelance writer:
• Rentacoder, elance, guru and helium
• Example of specifications
• Tips for getting the most out of your rentacoder
If you haven’t joined but would like to:
www.OurWeightlossSecrets.com/regoform
Building video products
Types of video products:
• Video yourself talking to camera
• Video experts
• Run an event
Tips for building video products:
• Methods and equipment to record video
• Editing video
• Outsourcing
• Camtasia of powerpoint
Finishing and producing the product:
• Graphics
• Fulfillment
• Things you can do to protect your IP / stop people sharing the product
Other quick, creative ways to build product
or add value with bonuses
• Certificates and vouchers
• Existing knowledge (eg rolodex)
• Public domain
• Private label rights
• Sell access to your list
• Private label your products
• Include other people’s products as bonuses, eg MTB tickets in our pack
