Table of Contents
• Aiming for Perfection
• Releasing a “Me Too!” Product
• Treating Customers as Expendable
• Technical Glitches
• Not Having an Affiliate Network
• Relying on Others to Promote Your Product
• Not Having a Funnel in Place
• Not Keeping in Touch with Your Customers
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Mistake Number Two: Releasing a “Me Too” Product
When you see other information marketers making big bucks from an ebook on, say, Twitter traffic generating strategies it is really tempting to jump up and say, “I could write an ebook on Twitter traffic generating strategies, too! And then I could make big bucks too!”
It sounds good – but it doesn’t necessarily work that way. In fact, if you create and release a “me too” product that is nothing more than an imitation of a more successful product already on the market, don’t be surprised if the world doesn’t rush to your door. (And, don’t be surprised if you tick off the original product creator, too.)
“But wait!” you might be saying. “Dunkin’ Donuts opens up across the street from Starbucks, and they both do well!”
Yeah, they do. That’s because it’s NOT a “me-too.” Each has its own spin on the product. Dunkin’ is where you go for quick brew and a 99-cent donut. You head across the street to Starbucks if you want a gourmet breakfast sandwich and a wi-fi connection while you prepare for your client meeting. Distinct needs; distinct products.
To take the coffee metaphor online… It’s okay to come up with a product that’s similar to a competitor’s, but you need to put your own spin on it, adding value over what your competitor is offering.
Here are some ideas that you can use to create a “me-too” product that stands on its own:
• Make it faster. Check out your competitor’s product. If it promises Thinner Thighs in Thirty Days, offer Thinner Thighs in Two Weeks.
• Make it easier. Does the original product offer ten steps to increased conversions? Then offer three steps instead.
• Make it bigger. Competitor sells 100 30-minute recipes? Then you need 200.
• Make it visual (or auditory, or written). If there’s an ebook on the topic, create the videos and audios, or vice-versa. Not all people learn the same, so cover the parts of the market your competition is missing.
• Make it cheaper. When Jeff Walker released his six-figure launch e-course, a smart marketer released “The Poor Man’s Launch Course” for a fraction of the cost.
• Make it more expensive. It may sound counter-intuitive, but it works! Some customers want “the best” and will go for the more expensive option automatically. If you can back your higher price tag with greater value, you will pull people looking for the Rolls Royce solution.
There’s really no excuse for creating a copycat product. Put your individual stamp on the product instead, and you’ll find that you can reach the buyers your competitors are missing.
Mistake Number Three: Overselling
The other day, my six-year-old convinced me to get her this chalk set that promised “3-D effects on your own driveway!” She pointed to the kids on the box, glowing with the success of creating artistic, 3-D effects that would rival those of Pixar. “Please, Mommy, please!” she begged.
I gave in, shelled out the $12, and we took the box home.
You know the story – it didn’t work. Within five minutes, I had a crying daughter, a box of broken chalk, and a headache.
The problem here? The company oversold their product. They made promises their product didn’t fulfill. Let this be a lesson to you.
Now, the chances that your disappointed customers will end up in tears may be remote, but there are takeaways for information marketers:
• People read – and believe – your sales page. You may think that no one reads those things, but they do! And they expect your product to perform as described. If you say, “Thinner Thighs in Two Weeks,” that’s what they expect to see. Don’t make promises that aren’t achievable.
• If you don’t fulfill what you say, they will be upset. They won’t blame the extra cookies they had after dinner each night this week or the ice cream sundae they chowed; they will blame YOU and YOUR PRODUCT. If there are limitations on performance, make sure you clearly state them on your sales page.
• If the product doesn’t work, they will tell their friends. My little Ralph Nader has already warned the entire kindergarten not to buy that particular craft product, and you can bet she’ll warn anyone she sees at Target, reaching for the box. Mad customers talk – online, in person, in forums, you name it.
While you want to tout your product’s capabilities and present it in the best possible light, make sure the results you’re claiming aren’t only possible, but likely, if the product is used as intended and recommended. If the results you cite in your sales copy are not typical, be sure to note that as well. Otherwise you may face the wrath of unhappy customers. And that’s not a pretty sight.
Mistake Number Four: Underpricing
You may naturally assume that to make something sell quickly, you want to price it as low as possible. After all, the laws of economics state that the lower the price, the higher the demand, right?
Well, sometimes that’s true. But not always.
In fact, lowering your price tremendously can actually have a detrimental effect on your sales. Why? Because many people equate “low price” with “low quality.”
Think about it. You are headed out to the store to buy a piece of jewelry for your spouse’s 10th anniversary present. You know it’d better be good, or you’re going to suffer. The jeweler pulls out two necklaces, which look pretty similar. One has a price tag of $15; the other is ten times as much. Which do you choose?
If you were evaluating coffee mugs, you might immediately go to the lower-priced option. It’s much closer to the price you expected to pay. But with jewelry, you’d likely think twice – or more – before going cheap. You’d worry about the workmanship. Would the clasp break? You’d worry about the materials. Would it turn your beloved’s neck green? You’d worry about its provenance. Was it stolen?
The worries aren’t worth the lower price, so you scoop up the more expensive necklace, have it wrapped in a gorgeous blue box with a white bow, and proudly present it to your loved one. Crisis averted.
The truth is, we rely on price as a signal of quality. If a leather jacket costs $1000, we assume it’s better made, more fashionable, and created with more care and attention to detail than the one that costs $100 at Joe’s Bargain Basement. We don’t know for sure, but we assume it’s true.Other Details
- 1 Ebook (PDF), 14 Pages
- 12 Graphics (JPG, PNG)
- 1 Salespage (HTML)
- 1 Squeeze Page (HTML)
- Year Released/Circulated: 2019
- File Size: 1,883 KB
[ Yes ] Can sell the eBook to your customers.
[ Yes ] Can give away eBook (PDF Format).
[ Yes ] Can be used as a bonus (PDF Format).
[ Yes ] Can include eBook in membership site (PDF Format).
[ Yes ] Can be combined with other offers or sold as a package.
[ No ] Can include within website flips.
[ No ] Cannot sell Resell Rights to customers.
[ No ] Cannot sell Private Label Rights to customers.