Online Business Strategies to Survive the Recession: More Product Creation Strategies

Although adding new products to your product line will help you increase your profits, there are other ways to make more money from product creation.

One of my favorite ways to do this is to use different formats for each of the products I create. Not only does this allow me to increase the size of my product line, it allows me to offer products that will appeal to more people. Not everyone wants to read books and ebooks. Some like to listen to audio in their cars or watch videos to learn.

For example, if you write an ebook on your topic and it’s long enough, you may want to consider formatting it into a book and selling it on Lulu or Amazon. There are plenty of print on demand publishers available that will make this possible. (Kindle is also another format that’s becoming popular because of Amazon. Since Kindles are digital, there are no production costs involved.)

Another advantage here is that you may charge more for the price of your product. Videos and audios are perceived as being more valuable, so not only do you have another product available here, but one you may make a lot more profits from.

You may want to consider creating tutorials or walk throughs on how to do something. Demonstrations are always popular with customers because it makes it easier to use the products. This works especially well with software or teaching your customers how to do something.

To get started developing other forms of your products, take a look at the form your product is currently in. If you write ebooks, what other forms can you use to create new products? You may want to consider video, audio, books, workbooks, data CDs, and software. You may even combine these types  to get even more mileage out of your product offerings as well as higher priced products.

Now, what if you don’t write books or ebooks? What then?

If you create physical products, then it depends on the products. For example, if you sell handbags, then you may want to consider offering your products in new colors. This means offering your bags in colors not previously available. Or, maybe the handbags aren’t available in other colors, but they may be available in other styles. Add other styles to your catalog.

Whether your product is digital or physical, creating different versions of it is easier than creating a new product. This will allow you to increase your product line faster and get new products to market.

Like these tips? Then get your free internet marketing membership and increase your business. Get free articles, ebooks, and other resources to help you make money writing your own products.

Jinger Jarrett is the author of “Internet Marketing to GO! Cashing in on Online Business,” available on Amazon.

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