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The 6 CRUCIAL Keys to Blockbuster Success
The 6 CRUCIAL Keys to Blockbuster Success with Your CDs,
Teleseminars and Downloadable Audio Programs
It would be sooooo nice if we could make our audio products
materialize & sell like crazy simply by thinking about them. And
once I've figured out a way to make that happen, you all will be
the first to know!
But until that day, the best way to safeguard the success of
your CDs, teleseminars and downloadable audio programs is taking
time BEFORE you record your first word to ensure your products
will be as profitable as you can possibly make them.
Here are six simple steps to maximize the chances of creating a
runaway success!
1. The Tiered Marketing Approach:
Tiered Marketing means you develop products at different price
points so everyone, no matter what their budget, can buy
something you've produced. Customers might not have alot of
money now. But your lower priced products can develop the trust
necessary for when they do. Tiered Marketing helps you to create
product for your big ticket purchasers, AND develop
relationships with those who WILL BECOME big ticket purchasers.
Your products should not only bring in revenue, but nurture
long-term client relationships. Remember: customers may buy only
once. But your raving fans will buy again, and again, and . . .
2. Never Forget The Lifetime Value of Your Clients
Taking a good look at what your best customers will spend with
you over a lifetime can be an eye opener. Even entrepreneurs
with modest fees and affordable products are looking at a
potential lifetime value well into five figures when looking at
their best customers.
Because your best customers will not only buy everything you
produce (because they're getting so much value!), but will refer
others who will do the same.
That's why its so important to create powerful products that
deliver results, and insure a maximum number of these ideal,
lifetime clients.
Looking at what you WANT each of your clients/customers to spend
over the life of your relationship is crucial to developing
products that fill that need. And reverse engineering your
products -- starting with what you want your products to achieve
and creating products to meet those goals -- can lead to
incredible ideas and create many unexpected opportunities.
Helpful hint: When figuring this lifetime value, work with a
'realistic' figure, AND a 'shoot the moon' figure. The
'down-to-earth' figure will spur you on because, chances are, it
will be higher than you expect. And the 'shoot-the-moon' figure
will encourage you to stretch and create the kinds of products
you normally wouldn't attempt.
3. Set Clear, Specific Revenue Goals for Each Product
Ask not what you can do for your audio products -- Ask what your
audio products can do for you! Looking closely at the goals you
have for each product can profoundly influence the form and
content of the product itself. It may be more clients. It may be
encouraging meeting planners to book you for speaking
engagements. It may be passive revenue.
By looking at the end result that makes the audio worth
producing, we can then ask:
What is necessary in order to create that result? (Increase my
mailing list? Develop a joint venture with a powerful partner?)
What steps will you need to take to make that happen? Is there a
specific format for the product (teleseminar, CD, downloadable
MP3) that will make achieving that result easier? What topics
will the product need to cover and what questions will it need
to answer to create enough value to achieve your results?
By looking at these crucial questions, we can create a powerful
buzz, almost a gravitational force around our product that will
compel customers to buy. However, this won't magically "just
happen". But you can maximize the chances it will happen by
asking these powerful questions before you begin.
4. Look at How Revenue Will Change Over Time for Each Product
Will your products still be selling in one year? In two years?
In five years? Realizing that your products can still be selling
TEN YEARS down the road can significantly influence their form
and content. It can help you decide on which products to create.
It can help you create a powerful mix of products, some that are
highly topical, and others that are timeless.
When you look at your products in this way, you can develop
products that leverage the best of both worlds: Red-hot products
tied to current trends or technology, and 'evergreen' products
based on principles that offer value now and years into the
future.
5. Set Priorities -- Decide Which Product to Produce First
If you're like me, you have no shortage of ideas for what to
produce. In fact, many entrepreneurs suffer from 'idea
addiction': they get a rush from the excitement of generating
ideas, but have a problem taking it further.
The problem is a lack of priorities. Once you've come up with a
lot of ideas, you then need to decide which of those ideas will
best help fulfill your goals, for your business and your life.
The hardest step for most beginning product creators is deciding
on what to create FIRST. They know what their mega-empire will
look like in 5 years. But that dream is where it ends.
So make a choice. Select the product you want to create NEXT,
and then commit to completing it, regardless of all the
appealing ideas that will arise to try and steal your time and
attention.
If choosing one is like fingernails on a chalkboard for you,
then look at a one-year product timeline, and the two to three
products you will create during that period.
Having the guts to defer or let incubate some of the ideas you
have can free up the time and resources to make the products you
do create a success.
It sounds obvious - but you can't create passive revenue without
first creating products. Free yourself by prioritizing and
focusing your energies on taking your highest impact products
from dream to reality now.
6. Don't Shoot the Arrow Until You Know What You're Shooting For
ONLY when you know what you want your products to do for your
business, and fleshed out goals and a rough 'business plan' for
them, should you start connecting the dots with strategies for
creation, target dates, equipment budgets, and matching your
recording technique with each product.
Most folks start with the product itself as the goal. So they do
a great job producing the product, which then bombs because they
didn't put any thought into what the product WAS FOR: their
desired purpose, and effect the product has both on their own
business and for their clients.
If we were all independently wealthy, we might create products
simply for fun. And creating products SHOULD be fun! However,
fun doesn't always pay the bills! So remember your products
always serve your goals and your strategy, not vice versa. By
following these six powerful steps, you ensure the products you
make hit home with those who are looking for exactly what you
have to offer. And that adds up to blockbuster success for both
you and your clients.
======================
copyright (c) 2005 by Robert Schultz. All rights reserved.
Rob Schultz, the creator of the Audacious Audio Success System,
mentors cutting edge entrepreneurs to catapult their profits
with their own affordably produced audio and information
products.
Receive your free "5 Audacious Avenues to Blockbuster Audio
Profits" special report, packed with crucial keys to getting
started at: http://www.audaciousaudio.com
You are welcome to reproduce this article, as long as it remains
complete and unaltered, and includes the resource box above.
======================
About the author:
Rob Schultz, the creator of the Audacious Audio Success System,
mentors cutting edge entrepreneurs to catapult their profits
with their own affordably produced audio and information
products. Receive your free "5 Audacious Avenues to Blockbuster
Audio Profits" special report, packed with crucial keys to
getting started at: http://www.audaciousaudio.com You are
welcome to reproduce this article, as long as it remains
complete and
Written by: Robert Schultz
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