Have you noticed how many online marketers are telling you that you need
your own product?
Have you heard any good reasons for that?
The one reason that I hear is that it will allow you to keep 100% of the
profits yourself.
Think about this. I don’t know about you but if a product is good and the
profit high enough, I don’t really care who the creator of that product is.
In fact, with master rights, I have a lot of exceptional products that I have
not had to research myself and I keep all the profits anyway. I even have
affiliates selling these products (and rights) for me.
https://www.aloeveraproductsshop.eu/
There has to be another reason.
Well, there is a very good reason why you should be able to offer a “unique”
product. The answer lies in a concept called the “Product Life Cycle”.
Once you understand the concept, you will understand why so many
marketers are telling you to get your own product and to develop multiple
residual income streams. Moreover, you will be able to separate the “chaff
from the wheat” and do those things that really need to be done.
Having your own product may not even feature on the list.
Every product goes through what is called a “product life cycle” that looks
a little like this:
Introduction with high investment and minimal profit
Period of growth with greatest profitability
Period of maturity where sales rise but profitability weakens
Market saturation where decline commences
Point 4. would also explain why the creation of new products is necessary,
wouldn’t it?
Actually, it wouldn’t.
As you read further into this article you will understand why new product
creation may not be necessary.
In the first phase of the “Product Life Cycle” we have a product that
has just been created. It needs to be marketed. As it is new, we expect to
spend quite a bit on advertising before it gains acceptance and we make
sales.
The least expensive, and arguably the most effective, marketing that can
be done is to have someone else pay for the advertising. This is how
affiliate programs work.
Right now, you are about to learn the truth and power of the “Early Bird
Advantage”.
You must remember a couple of concepts here. The first being that in
order to generate the maximum number of sales, a prospect needs to be
exposed to the sales message at least seven times. Secondly, we are
dealing with a new product. No sales messages have been sent as such