“The 5 Keys of Product Development”

Product development is a critical component of your Internet business. You will constantly develop new products through repurposing content and coming up with solutions to your customers’ problems. How you engage in product development can mean the difference between a high profit and a major loss.

So what are the components of product development?

There are 5 keys to product development:
Key #1: The product must solve a problem. People will give you their cash if you provide them with a solution to their problem. Examine your niche to find out what people want and the problems they deal with in this niche.

Key #2: The product must already be in high demand. You don’t have to create a unique product. You can create a similar product to products already on the market. Just make sure to demonstrate why your product is unique and is a better solution then the competition.

Key #3: You have to research your market. You have to have a built-in market so you know that people are out there that will buy your product when it is ready. If you don’t research your market then your product may gather dust on the shelf, while your bank account suffers.

Key #4: Your product must be simple for the end-user to use it. For example, some software programs are complicated. They could use step-by-step simple instructions.

Key #5: The most important key to success is to understand and provide the “holy crap” factor. These two words are what people should say when they see and use your product. This can create an overnight success in your business because you are wowing them with your exceptional product. Your product has to have shock value. You need to engage people in your website and admire it.

Follow these keys to product development and you set yourself up for victory.

Warmest regards,

Matt Bacak

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“How to Create Highly Profitable Product”

Think you need years of experience and education in order to create high profit products? Think again. You can create your own high profit products with absolutely no experience. This can be accomplished if you have the knowledge of the steps necessary to achieve this goal.

Let’s start with this question – Have you had an idea for something, but it was too complicated to create? For example, you may have an idea for a software program, but don’t know how to write computer code. You know how you want it to work, but don’t know the technical specs behind it.

So how can you create and build this highly profitable product? Follow these steps:

First step: Ask yourself – Why should you create a product?

Reasons include:

1. You want to make money. You aren’t looking for friends; you’re looking for cold, hard cash.

2. You want to create a brand name and/or you want to be recognized.

3. You want to create an opt-in list based on the product.

4. You want to capitalize on current trends in the marketplace. Essentially, you are creating a product that is going to solve the problem that people have. This problem is fluid and can change on a daily basis, especially since the Internet links the entire world in real time.

The good news is that you don’t have to know how to make a product because you can hire people to create the product for you. For example, for your software product you can hire a computer programmer that will write the code for you. You pay them a fee, but you will recoup this fee and much, much more so it is worth outsourcing the job to a professional.

Now let’s look at your Internet business website:
How many other websites are linked to you? This gives you your link popularity. Google looks at the number of sites that are linked to you. Don’t forget to look at the link popularity of your competitors. How many sites do they have linked to them?

Don’t forget your Opt-In List:
You can create an opt-in list on the page that sells your product. This opt-in list enables you to sell more of your other products to the subscriber.

So outsource the creation of your product and tweak your Internet business. This will lead to the victory of a highly profitable product.

Warmest regards,

Matt Bacak

P.S. If you haven’t signed up for my
Powerful Promoting Tips yet, then you
are really missing out, go here:

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P.P.S. Do you want to be updated on the new things I’m doing
to market my companies? Then you need to grab a copy of my
`Internet Marketing Dirt’. It’s now better than ever before!

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“Tips for Internet Copyrighting”

Want to know more about effective copywriting on the Internet? Read on to find out answers to common questions.

Webcopy differs from real world copy because you have to be a “producer” when you create your Internet website. Being a producer includes sound, pictures and writing. So the first step is to research your competitors. You should visit all the websites that are in your niche. Find these websites through search engines.

You should also create swipe files of samples advertisements. Use the technique of chunking before writing any advertisement. Look at problem chunking first. Set up the problem that fits into your niche. For example, what happens that causes a problem that needs help from you or your product? Then look at the solution chunks. This is when you demonstrate the solution that you and your product offer. Go through competitor’s ads and find the problem and solution chunks.

Then find copy about why people are stuck. Also find copy about the process involved in the product.

The call to action involves walking the customer through the exact steps they must take to buy your product or service.

Problem – Provide – solution – Why they are stuck – Call to action

Copywriting formula:
1. State a clear promise.
2. Give proof and reasons why.
3. Call to action.

Another copywriting formula:
1. Start with a story.
2. Call to action.
3. Provide benefits you’ll gain when you take that call to action.

Choose which model you want. One is not better than the other. It is a matter of preference. Just make sure not to change the formula in the middle of the copy because this could confuse the reader.

Tip: Your first 250 words are critical. Make sure to show what, where, when, why, how, and who in the first 250 words. And for email you have to write these in the first 50 words.

Make your website printer friendly. Put these words on your website, “Print this Page”. This enables people to print your website and read about it on actual paper. They often then buy at a later date.

Warmest regards,

Matt Bacak

P.S. If you haven’t signed up for myPowerful Promoting Tips yet, then youare really missing out, go here:

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“Gifting: Free Offers = More Income”

Do you know the powerful tool called “gifting”? It is a potent tool that can increase the success of your Internet business by converting traffic. Plus, it benefits your customer list as well.

What is gifting? Gifting is a driver that can be accomplished by offering free one-on-one consultations. These can be lucrative because you are establishing a relationship and have another chance to up sell to your customers. Plus, the customer feels like you are looking out for their best interests when you offer them free information. They are then more likely to buy from you.

Use the law of reciprocity in gifting. When you give people a free consultation, they will want to give back to you. For example, when you give live demonstrations then people will want to give back to you by purchasing products from you.

Tip: Autoresponders – Send your most important content messages in multiples of 7 days. So on days 1, 7, 14, and 21, send your most valuable content in the Autoresponder emails. For example, you can have demos on these days.

Do you know about market center marketing? Market center marketing is when you know what everybody wants and decide that you are going to sell it. For example, you want to give your own customers a great deal or value so you give teleseminars based on your customer’s questions.

For example, one Internet entrepreneur had hundreds of questions flood into his business when he offered to give a teleseminar based on customers’ questions. He picked 52 questions to cover since there are 52 weeks in the year. He made sure the questions were specific. Then he turned the teleseminar into a product by creating a transcript and CD of the teleseminar. This is a great way to make money from a free teleseminar.

Other market center techniques involve the configuration of your website. Following are two tips you can use:

Tip #1: People read linearly on the Internet. So put your name and what you want in the first paragraph.

Tip #2: Engage website visitors by using flash audios. Auditory elements such as testimonials are very powerful. They keep the website visitor, aka a potential customer, interested in you and your product. This element increases the chance of the person becoming a paying customer.

Warmest regards,

Matt Bacak

P.S. If you haven’t signed up for myPowerful Promoting Tips yet, then youare really missing out, go here:

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P.P.S. Do you want to be updated on the new things I’m doingto market my companies? Then you need to grab a copy of my`Internet Marketing Dirt’. It’s now better than ever before!

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“Supersize it: The Power of the Up Sell”

Imagine that you are at the drive thru at McDonalds. You just ordered a hamburger. What does the fast food worker say to you next? The answer is “Would you like to supersize your meal with a drink and fries?” This answer is a prime example of up selling products. You can apply this tactic to your Internet business to sell more products and make more money.

Following is another tested tactic that will earn your business more money:
At the point of sale you want to create the law of contrast. For example, at McDonalds you see a Happy meal deal for $5, $4, and $3. Typically, people hate extremes and will choose the option in the middle. So they will more often choose the $4 Happy Meal to begin with and then go up one step. So always give the highest price first then the mid price then the lowest price.

Another example is marketing with postcards using the “down sell”. Let’s say that a customer comes to your website, but doesn’t want to read the 4,000 words of postcard type copy. You then should offer a cheaper product and still offer the same bonuses. The down sell employs the psychological law of contrast. For example, you could sell a book at a regular price and the customer doesn’t want it. So down sell to them by offering the same book, but in eBook format for a cheaper price.

Recycling occurs when you count on people leaving your website, but know that you will get them back in the future. An example includes having an exit pop-up that is a survey when the customer doesn’t buy your product. Have copy that asks people for their advice. People love to give their advice. This makes them feel like their opinion counts. For example, say “Before you leave us, please give us your advice about…” An example question is to ask the customer why they didn’t buy. Then try to provide answers to common reasons why people didn’t buy the product.

Another way to recycle traffic is to have people go all the way to the bottom of your sales page and have copy that says “Click here if you have decided not to order my product.” This button should take the customer to a “lift letter”. The lift letter is from a third-party of authority. The lift letter gives you two choices – you can go back to the home page or order the product. Essentially, the lift letter gives more credibility and a referral of your product. So it gets people to trust you more making them more apt to buy. You can find an authority in your niche to write your lift letter.

Try these tactics in your Internet business to rapidly increase your profits.

KEYWORD LIST:
Lift letter
Internet business
Up sell
Down sell
McDonalds

Warmest regards,

Matt Bacak

P.S. If you haven’t signed up for myPowerful Promoting Tips yet, then youare really missing out, go here:

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P.P.S. Do you want to be updated on the new things I’m doingto market my companies? Then you need to grab a copy of my`Internet Marketing Dirt’. It’s now better than ever before!

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“5 Tips to Significantly Increase Sales”

How can you develop relationships with your list?

Start by sending a teaser email with a provocative question. Let your list download the first three chapters of your information product as well. This allows them to consume your product and it engages them. This process increases the chances of turning your subscribers into paying customers.

Tip: Autoresponder strategies inspire your prospects to consume your products and create a long term relationship that builds at a comfortable rate for the customer.

You should eliminate prospects rather than beg them to stay on. You want to eliminate prospects rather than work strenuously to gain customers. Let people unsubscribe themselves. You only want to focus on people that want to build a relationship with you.

Tips:1. If you bring scarcity to your ezine, you will gain a great deal of sales. Scarcity is an excellent persuasion principle. For example, scarcity can be accomplished by using these four words, “For 2 full months” in an offer. This can significantly increase the opt-in rate because people will think that there is a time limit on the offer.

2. Have a privacy policy available so people know that you are not going to sell their email address. This will make people feel more comfortable about opting into your list. Make sure this privacy policy is placed right by your opt-in box.

3. The concept of bundling is like the candy you find in the checkout line at the grocery store. For example, you buy a candy bar when you check out. It is an impulse buy. So bundle impulse buys on the order form. A good order page should convert 10% and above. If you get a customer to the order form then they are a prospect. You want to up sell through impulse buys to these customers.

4. Put a picture of the product on the order page. This helps the customer visualize exactly what they are buying. The pictures help you to make a decision. For example, in direct marketing post cards they often give customers a choice of using a “YES” sticker or a “NO” sticker to make their decision. These stickers are visual representations of the customer’s buying decision.

Extra Tip: Put the pictures of the up sell items as well.

5. Write the up sells first. This helps you get people in the zone to buy. Ask people if they want to buy loads of extra products. Go for the extra sale. The worse they can say is “no”. And they will still buy the initial product they wanted to buy in the first place. When they are in the zone to buy, they give you the permission to sell to them.

Extra Tip: Your up sells should be relevant to what you are selling.

Warmest regards,

Matt Bacak

P.S. If you haven’t signed up for myPowerful Promoting Tips yet, then youare really missing out, go here:

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P.P.S. Do you want to be updated on the new things I’m doingto market my companies? Then you need to grab a copy of my`Internet Marketing Dirt’. It’s now better than ever before!

Go here and get a copy: www.internetmarketingdirt.com

“Principles of Internet Business Tactics”

What are principles in terms of Internet business and business in general? Principles cause predictable, sustainable, and capital efficiency growth. If you are capital efficient it means that you are using your money in the correct manner. In other words, if you understand why someone is buying from you then you can duplicate that process to earn more money.

What is the fundamental principle behind your tactics? Wait – what are tactics? Tactics are techniques such as email, spam, and marketing. They are techniques that help execute principle based e-marketing. Essentially, tactics are marketing tools.

The single biggest different between principles and tactics is endurance. Principles work forever and tactics can become obsolete overnight. For example, spam is now obsolete.

Let’s look at principles and tactics that are used in today’s Internet business world. There are 5 drivers that will convert traffic for you which include:
Driver #1: Baiting
Driver #2: Bundling
Driver #3: Recycling – Tells you what to do with people that don’t want to buy from you.
Driver #4: Gifting
Driver #5: Engaging

What type of businesses do these drivers work in? Examples include coaching, gardening, stock brokers, real estate brokers, information publishers, trash collectors, etc. You can apply these drivers to any type of business.

Conversion is important, but is not as critical as the value per visitor. For example, if you have 100 visitors and convert 5% then you have a $0.50 value per visitor. This is a low value per visitor. On the other hand, if you have 1% with a $100 product then you have a $1.00 value per visitor. This is the better option as you will make more money. This statistic is especially important when you participate in affiliate programs and joint ventures.

What is the top mistake that people make when trying to convert traffic to buyers? The biggest mistake on the internet is to always go for the order right from the first communication. This is the same as proposing marriage on the first date. Would you do that? Of course not!

Tip: Prospects will always prefer a shy yes before responding.

Tip: A question mark is much more powerful than an exclamation mark. A question mark pulls information instead of pushes it onto people. If you want to win the hearts of more cash paying customers then ask questions. For example, sell the date of your seminar and free chapters instead of selling the sale. Go for the shy yes if you don’t want to be ignored. You need to develop relationships.

Warmest regards,

Matt Bacak

P.S. If you haven’t signed up for myPowerful Promoting Tips yet, then youare really missing out, go here:

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P.P.S. Do you want to be updated on the new things I’m doingto market my companies? Then you need to grab a copy of my`Internet Marketing Dirt’. It’s now better than ever before!

Go here and get a copy: www.internetmarketingdirt.com