Reload: Create A New Product

Create A New Product!

Reload #2 from Marketing Mercenary

Are you stuck in a rut? Producing but not creating? Selling but not solving?

In this edition of Reload, I’ll share something that gave me a spark a while back, and is generating new business for me now: creating new products.

A while back, the gentleman that was my business coach challenged each person in his group to create a new product in two weeks. He also thought that, since I deal mainly in electronic media services, I should easily be able to create a range of new offerings: low-cost, mid-range, and premium.

I did it, and I sold one of the mid-range products for about $400 a short time later. It was my biggest single sale up to that time! Was it expensive to launch this new product line?

No! I purchased a hosting plan and put a simple website on-line for about $35 per quarter. I already had all the equipment and expertise I needed. And this “upgrade” helped bring in several new customers in the last couple of years.

Now, here’s the best part…

Currently, I haven’t developed a new product or service in a while. But, I have entered into a partnership with a very creative individual. He has originated several new products and services since our partnership began earlier this year. Am I coasting and letting him do all the heavy lifting? No. We brainstorm on how best to refine the new items, and I contribute my sales and customer service experience to cultivate and clarify how the products are brought to market.

I’m not saying that if you gain a new partner, you don’t have to come up with any new ideas of your own. But there just might be someone out there that can help YOU come up with strategies and solutions that will re-ignite your success. Right now, make a list of potential joint-venture partners that you can meet for lunch. Cook up some ideas that will help you…

  • reach new customers
  • explore higher price-points
  • develop recurring monthly income instead of one-time sales
  • develop one-time, easy sales instead of long-sales-cycle items
  • re-kindle interest with customers that seem to have forgotten you

Go! Call a couple of people on that list, or send them an e-mail with your invitation. Go forth and break some rules – or perhaps – break some sales records!


2 Responses

  1. It ‘s interested…


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