Selling The Wrong Product?
Most bloggers get a sale here and there.
A problem that you may not be aware of is that not all products sell.
I am going to give you an important, but shocking datum.
In an e-commerce store, there's only one out of about 50 advertised products that sells consistently. And I have a similar experience - I signed up for over 50 affiliate programs, but there is only 1 product that got the majority of the money that my blog made.
I am unable to make a sale on web hosting or ready-made affiliate sites.
Verify that there is demand, people that are willing to pay for the product you want to sell. If you pick the wrong product, all your hard work is in vain.
Red Ocean vs Blue Ocean
You don't normally want to go for an isolated unproven niche, because there is not demand.
But how do you sell your product in a saturated niche (also called red ocean)?
Figure out how to make your product a new opportunity in the over-saturated market.
You need to listen to the needs of your audience... but instead of following the trend, create a new opportunity (blue ocean).
There are several examples of this in history.
Henry Ford listened to the requests of the public, but instead of building a faster horse (red ocean) he built a car (blue ocean).
Think about the old cell phones. The market was saturated (red ocean). If you had asked the people, they would have asked for a better cell phone with new features. So then the smartphone was created – a new opportunity. Suddenly a new field with no competition opened up that didn’t exist before (blue ocean).
This is what you need to create with your product. In order to be really profitable, your product needs to satisfy an existing need with high demand. But at the same time it needs to create a new opportunity where no one is competing you.
Products vs Offers
What I said above is true, but there is a limiting factor. No matter how mediocre (or bad) a product is, you can always sell it with the right marketing.
Steve Larsen, former funnel builder at ClickFunnels once did a demonstration. He went on stage and had a book in his hands. He kept talking about how brilliant the book was. It actually got to the point where someone from the audience wanted the book so bad that the person ran up to the stage and tore the book out of his hands.
At that point Steve admitted that the whole thing was just a marketing demonstration and he never even read the book he was talking about.
Despite your beliefs, a product doesn't sell itself. Even if it's the best product.
It's the offer that sells the product.
Building a funnel is not hard. Creating a product is not hard either.
Creating the right offer is what’s hard. But this IS what gets the sale and makes funnels work.
There are numerous companies that have a great product, but terrible sales page. You can take advantage of this if you do affiliate marketing.
If you create the wrong offer and you do paid advertising, you may as well just burn your cash.
An offer is based on perceived value. If your prospect doesn't understand the value you are offering, they are not going to buy.
Your offer MUST be to a broad audience and convert well to cold traffic.