Video has so much power. Are you harnessing it, yet?
Creating digital products could probably be the most cost effective business builder and wealth creator for online and offline businesses than any other form of business building online.
What most people don’t seem to realize is the POWER that is connected with having your own products including:
- Joint ventures
- Speaking opportunities
- Book opportunities
- Leverage through packaging
- Ascension models
- Multiple income streams
…just to name a few.
But I have found most people are scared to turn their expertise into a product for fear that people will not want to buy their knowledge so instead, they continue to exchange time for money in a bid to avoid change–and unfortunately growth and wealth.
In this article I want to share with you an easy recipe to follow when creating your first product to help overcome any overwhelm you may have about getting started.
7 Step Video Product Formula
Step 1: Do your market research
Know where your people hang out, where they live, what they do for a living, how much money they earn, their likes, their dislikes, their biggest pains, wants, needs and desires, how they like to receive their information eg., read, listen, watch, digital, physical, online, offline – create an avatar of your ideal client for this product
Step 2: Ask
There is no point you creating a product that YOU think your target market needs – because YOU don’t know what is going on in their lives right now. Your goal is to find out where they are right now [A] and where they want to be in the next 3-6mths time [B]. The only way to find out with true certainty and clarity is to ASK via a survey.
Step 3: Analyze
Analyze your results and decide how you can create a step by step product that can help solve their needs, wants, pains or desires.
Step 4: Share
Once you have the results of your survey you want to share that information.
Why? For two reasons. One, to show that you listened and that you care, and that you are creating something that can help them get from A-B so that they can start moving forward. And two, to get their buy-in to the product that you are creating [warm list]. This part is very, very important.
Step 5: Mind Map
Now you know what their pain, want, need or desire is, it is time to map out how you will create a product that will take them step by step from A-B. This map will become the framework that you will work from when you build your product.
Step 6: Mediums
In your Step 2 it is important that you ask your list how they like to receive their information eg.,
- All of the above
Once you know this, you can choose which media will best suit the step by step mind map that you are teaching. You will find it will incorporate many different mediums depending on whether you are doing a:
- Complete downloadable course
- 3 mth
- 6 week etc
Step 7: Create your product
Using the information and framework information above… build your product!
That’s it – rinse and repeat. Obviously the next thing is to put in place a complete Campaign Product Formula – but that is in the next article. 🙂 stay tuned!
I have 3 free video tutorials to help you get started with your Video Product Formula http://socialmediawoman.com/videoproductformula/video-product-formula-special/
If you’ve got a product ready, share it with us below!