In
first installment to this series, we looked at creating and marketing your own info product. I gave several concrete examples of info products I created with very little investment of time or money which sell with tremendous success. If you missed that article, it's posted online at: http://williecrawford.com/limitless22november02.html In this installment let's look at creating and marketing your own services.When looking at marketing your own services you should thoroughly examine, brainstorm, and tear apart several critical issues. These issues are:
- What services are you qualified to offer - Will offering this service provide a good return on your investment of time and money - Is this service suitable for leveraging by offering through an affiliate program - Is there sufficient market for this service to offer a steady stream of customers long term - Can you develop a line of back-end products to increase
revenue stream from offering this service
Let's briefly look at these issues.
Most of us possess some unique talent that we can use to create a service and earn an income from sharing this talent with others. Talents that come to mind immediately are web design, graphic design, copywriting, programming, data entry, script writing or installation, legal research, website optimization, website promotion, diet counseling, fitness coaching, personal coaching and counseling, proofreading services, ghost writing services, and too many other possibilities to list here.
All of these services can be and are marketed successfully over
internet. Develop a reputation for delivering quality in any of these areas and you will get a steady stream of customers.
When looking at what service you might offer as your own "product" also consider services that allow you to leverage yourself more. To do this I generally think of services that can be provided semi-automatically and delivered in an almost endless quantity. The distinction between product and service may get a little blurred here but that's ok. What are "services" that might fall within this category:
- Pay for subscriber/lead services - Pay for website traffic/visitor services - Website submission or promotion services - Website monitoring services - Website translation services - Website hosting services (very competitive) - Remote script hosting services - Custom content provider services - Article writing or distribution services - List management services - Providing custom diet plans - Providing custom fitness plans - Personal financial management services
... you get
idea. Think of services that you can generate and provide with
aid of software so that you really do have an unlimited supply. Look at how you can improve on existing services or come up with totally new services. Realize that if you don't design your service properly you severely limit its growth potential and
potential to offer back-end or add-on products or services.
I recommend services where there is less competition due to difficulty in delivering
service. Difficulty in product delivery as a barrier-to-entry is a good thing. It means it will be longer before someone encroaches on your market. This allows you to perhaps price differently at first and harvest "monopoly profits." Sorry - my economics training is slipping through :-)
Many services are so generic that it's difficult to distinguish your service in
mind of your potential customers. This makes your service a commodity and many customers will buy largely based on price. Web hosting is a commodity service that immediately comes to mind. To many customers, one web host is just
same as all others. If you can distinguish your generic product in
mind of your potential customer by becoming known for superior quality or customer service then you no longer offer a commodity. However, that takes a lot of very hard work and time. If you can offer a service FIRST or where there are fewer competitors then your task is easier.
When thinking of your service (or product) think in terms of income stream. If you are forced to constantly search for new customers so that you can make a one-time sale, you severely limit your growth potential. If your system brings in customers who use your services over and over again, then you build in repeat business and a revenue "stream." Lead generation and traffic generation services are examples that come to mind. If you deliver quality traffic or leads then your customers will buy from you again and again.