Continued from page 1
The lessons to be learnt from this are:
If you create a product, make sure you have an affiliate program. It will save you a lot of money and sales will come in faster. If you are fortunate to find a product that you believe in before it gets rolled out, grab it and stick to it.
Two things are happening at this point in time that you need to be very aware of. First of all,
owner of
product is still busy building his affiliate base and has not yet achieved maximum profitability with his product. Secondly, affiliates had a relatively easy time with little competition for sales.
From this point of time in more affiliates will join
program. This is good for
owner of
program as more sales will be generated. There will however be a lot of competition for
affiliates and those affiliates who do not know what they are doing can expect less and less sales. The inexperienced marketer had better hope that this product generates a residual income!
Eventually,
market will have received high exposure to
product. Customers will have started to use
product and provide feedback and
creator of
product will be made aware of possible improvements that can be made to
product.
At this point in time,
creator of
product can start
cycle again by either offering an update on
product or by releasing a completely new product that satisfies customer demand.
Although an affiliate as such is unable to modify
actual product, he can change
packaging/ presentation, include bonuses and to some extent recreate a USP for
product. These changes are in fact necessary for an affiliate to stand any sort of a chance with marketing
product after
initial roll out is completed.
What can be learnt from planning for
“Product Life Cycle”?
Get in early with something you believe in and stick to it; Think of a unique presentation for
product; Build a referral base; Make sure that your opportunity includes a residual income.
Follow these guidelines for selecting those opportunities that you align yourself with. It will serve you well.
To your success Richard Glanville http://www.statustron.com Publisher@statustron.com
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Richrd Glanville is a financial and marketing consultant to major role players in both theprivate and public sectors. With professional qualifications in both engineering and accounting he has recently added online marketing to an already impressive knowledge base and after more than 9 years of successful offline consulting has recently started to focus his attention online. He can be found at http://www.statustron.com