Product Creation Conclusion

It's a fact: smart marketers do all they can to get the maximum amount of profit and shelf-life out of their products.

After you've added all the value that you can to your total package and run the gamut of about 6 months of sales, it's time to start looking for additional ways to squeeze revenue from your product before "retiring" it.

Now, don't take the word "retire" literally.

You don't have to shelve the product. However, most information products have a popularity life-cycle of about 3 to 6 months. You'll probably be on the way to creating more products during that time, but you've still got to maximize the revenue you get out of each one. There are ways to rejuvenate a product past its prime, and we'll talk about those methods today.

Squeezing Maximum Revenue from Each Product

In order to squeeze more profit out of each product, you must add more value. In Day Six we covered several ways to do this. Keep in mind that you don't have to pull all the stops at once. You can revamp your product package with new bonuses, extra material, special buyer's discounts and a lot more even months after first launch.

The end of your product life-cycle is the time to aim for a final marketing push - especially in terms of joint ventures and e-zine advertising aimed at squeezing in any gaps in the market you may have missed the first time around.

Resale Rights

You might consider offering resale rights to your product after a period of time. This is the point, generally, when you aren't too concerned with competition or simply decide to stop marketing the product yourself.

If your product is hot and has sold well, you should have no problem acquiring prospects interested in buying up resale licenses.

You can sell the licenses individually or you can arrange for the product to be included in a package or membership site. Now, why would you want to do this? It's not just about the up front money. It's about creating a marketing "loop".

Once your product is available in a site of this size and popularity, you'll get a huge boost in traffic as new people discover your URL. This means you'll get more visitors, more newsletter sign ups and more prospects for your next batch of products. You're squeezing money out of that old product without even selling it!

Free Distribution

In a similar case to the above, you could decide to release the rights to the book and allow it to be distributed freely - let other site owners download it and use it as a bonus to include in their packages and give to their newsletter subscribers. This will create another viral marketing loop that will bring in extra traffic and revenue.

Here are some good places to submit your e-books:

http://www.free-ebooks.net/submit.html
http://www.ebookdirectory.com/
http://etext.lib.virginia.edu/ebooks/

Once you've taken these steps, you can safely "retire" your product, knowing that you've pulled out the maximum amount of profit and free advertising it can generate for you.

Conclusion

Creating your own products is easy. Once you get the hang of it, it's a snap to turn them out - sometimes faster than your schedule can accommodate.

Owning your own product is the quickest and most effective way to take control of your business and your profits. So, re-read this course and refer to it whenever you need guidance during your first trial. You'll have your own product ready to go in no time. Good luck!