creating a productIf you’ve been involved in internet marketing for any length of time you’ve probably heard or read people talking about product creation and telling you that it is a good idea to create your own product. Whether you are just getting started online, or if you’ve had your own website for a while now, creating your own product has many advantages. Here are a few of them:

#1 – You have the Potential for Higher Profits – instead of getting a commission for every sale you make, you can keep all of the money for yourself (minus any payment processing fees and overheads of course).

#2 – You can Build a List of Buyers – building a big list is one of the most important things you can do as an internet marketer. A list of buyers is a lot more valuable than a list of freebie seekers. If you have your own product you can add buyers to your list and make further profits down the line.

#3 – It is Easier to do Joint Ventures – if you have your own product you can approach other product owners and set up a joint venture agreement. This could involve a mailing to your list where you each promote each other’s products. Or it could include offering each other’s products on a thank you page.

#4 – You Can Utilize the Power of Affiliates – if you have your own product you can allow affiliates to promote your product for you and pay them a commission per sale. This is an excellent source of free targeted traffic and you only need to pay commissions when a sale is made. This is traffic that you wouldn’t normally have received so paying a 50% commission for each sale made is a small price to pay!

#5 – You Can Setup a Sales Funnel – you’ve probably bought a product before and seen an upsell or a one time offer to another product. You may not like this, but it is one of the best ways to increase your profits in internet marketing. Once you have one product you should aim to create another related product so that it can be used as an upsell. If you don’t do this you will be leaving money on the table.

#6 – Your Reputation will Improve – as a product creator you’ll have more respect from fellow marketers and customers alike.

#7 – You are in Full Control – affiliate programs can shut down, change their commission levels or do pretty much anything you like. If you have your own product you are completely in control and do not have to depend on a 3rd party to send your payments. You can also set the price that you want to, experiment with the sales copy and make any changes that you want to.

#8 – You have bonus material – if you are promoting affiliate products it often helps to provide a bonus for anyone who decides to purchase the affiliate product through your link. As a product owner, you have an advantage here as you can offer something that you normally sell and this will usually have a higher perceived value than an MRR or PLR product offered as a bonus.

So hopefully this gives you a few ideas of the advantages of creating your own product. Creating a product can be hard work and also pretty daunting if you are doing it for the first time, but the sense of achievements and the benefits of doing this outweight the time and effort.

If you are not sure where to begin take a look at my tips on how to create your own product. This explains the different options availab le to you and covers all the different aspects that you need to consider to get your product created and on sale. If you don’t have the time or the knowledge to do this, I also have some options for outsourcing product creation or for buying the rights to a product that has already been created.

If you have any comments or can think of any more advantages to creating your own product please feel free to post a comment below.

 

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