Product Creation – How to Create Profitable Product Offers That Pile on the Profits

One crucial facet of making a success of your online marketing business is to create offers that people want and that people buy. Create desirable products and incessantly market them and you will never be found wanting for cash.

You have to question whether if you were a consumer in that market, would you buy your own product? Trust your own intuition. If you wouldn’t, then shelve the product.

Here are four ways to create hot-selling offers that your target market will snap up in double quick time:

1. Load Up On The Bonuses

An offer with lots of free bonuses will be markedly more appealing than an offer without one. That goes without saying! However, you do need to keep a balance between having too many bonuses and having just enough to get the sale.

2. Put A Time Limit On Your Offer

This is one of the most effective ways to trigger an explosion of sales. If time is running out on your offer, you can be sure that people will start snapping them up in a mad rush! So set a time limit on your offer if you can (and I don’t see why you can’t!).

3. Create A Limited Quantity Of Your Product

This is an awesome scarcity tactic for boosting your sales almost instantly. By having a limited quantity, this immediately makes your product seem more valuable to your customer.

4. Offer Discounts For Special Seasons

Offer special discounts for special seasons and holidays. This will give your customers the best bang for their buck and you will make more sales.

Reinforce and Enhance Your Sales Training With Product Training

The other day, my friend Kelley Robertson wrote an outstanding article: Is Your Sales Training Putting Your Sales Team At Risk? The article prompted me to think about: Why is product and sales training separated? What would happen if we integrated our sales methodologies and training into our product training?

Companies invest lots of time and money in developing product training with every new product they launch. Usually, this training focuses on training the sales person on the product features, functions, speeds and feeds. Often, it includes competitive positioning, sometimes it includes elementary objection handling. Usually the training focuses on what the product is and what it does. Sometimes it addresses how it should be sold. However, in our experience, it seldom incorporates the processes, methods and approaches introduced in sales training sessions. There is a tremendous opportunity to accelerate the launch results and to reinforce investments in sales training by incorporating sales training into the product training.

Much sales training is oriented around certain processes (ideally, the vendor has adopted their methodology to the organization’s selling process-if not, well that’s a different post). As you develop your product training, incorporate this process into the product training. For example, in qualification, what are the target markets, customers, individuals within the customers for this product? What are we looking for to qualify whether this product will be a potential solution for them? Who should we be talking to and what should we be talking to them about? In discovery, what are the needs, problems, issues we address with this product? How do we question and probe to determine whether the product is a good fit for the customer? How do we determine if our product produces value for the customer? In presenting the solution, how do we best position this product to address the needs, priorities and requirements we identified? Leverage what you have learned in developing, communicating and delivering value into developing and communicating the value of this product. Use what you have learned in putting together a justified business proposal. If you’ve had training in objection handling, how do you use that approach in handling objections customers might have with this product? If you’ve had training in negotiation, how do you leverage this with the new product? I could go on, but I’ll stop here.

It’s such a simple step-merging the sales methods into the product introduction, but few organizations do this. But if your sales people are already trained in this sales methodology, wouldn’t leveraging this accelerate the launch and improve sales success? Wouldn’t doing this reinforce the sales training and continue to build skills and capability in execution? We’ve seen tremendous results with dozens of clients. Leveraging their experience base and the sales training they have already had, accelerates their understanding of the product and how to be successful in selling it. It establishes a tight connection between what they’ve already learned and practiced, building on that strong base.

How to Name Your Product: Giving Your Product a Compelling Brand Name

Were you ever been caught in a situation where you have a great business idea but you’re clueless on where to start? You have a great product or service, and you firmly believe that this will be the next big thing. But then you ask yourself, “How shall I name my product?”These are hurdles that hinder aspiring entrepreneurs to transform their ideas to reality. Branding can be daunting task. And if not done right, it can significantly tarnish your brand image. Creating a name with the perfect fit is a challenge for most us. Choosing a name requires an exhaustive research and usually consumes a lot of time. A brand name is one of the most powerful piece of messaging. It’s also one of the most ubiquitous components of any branding program.A research conducted by the Japan Economic Times reveals that out of 139 marketing professionals, a majority said that the brand name is the most important element in branding. More important than the slogan and the logo. Moreover, According to Al Ries, a world-renowned author and a marketing strategist:”Your name stands alone on the internet, so you better have a good one.”- Al Ries, The Law of Proper NameDue to the complexity of the branding process, people come up with their own strange ideas to cut the chase.In Egypt, a couple named their firstborn daughter “Facebook”. They were inspired by the role Social Media in the Jan 25 2011 revolution in Cairo’s Tahrir Square. The father, Jamal Ibrahim, was so happy with Facebooks’s role in organizing protests in Tahrir Square and the nearby cities. He named his daughter “Facebook Jamal Ibrahim.”Filipinos on the other hand, are such creative lads. They never run out of ideas. They can come up with a plethora of permutations combining their children’s first names. They always show off an uncanny output. Examples are Rubylyn Bakeshop (names Ruby and Lyn combined) and Lilyma Enterprises (Lily and Mario combined), just to name a few. In the eyes of the owners, that’s the best brand name ever created.Though they were relieved from going through the tedious branding process and avoided paying off the Branding expert’s hefty fees, this tactic is ephemeral. This may work locally, but will eventually falter when the product reaches the international scene. So if you want to build a great brand, don’t name your dog Blackie. Don’t just be creative, be smart. Always anticipate that overtime, your brand will go global. It pays to be ready.OK, let’s get into it.Here are the 3 characteristics of a great product name:1. Limit your name to under 10 characters.Using about 6-7 chars to a name is ideal. Of course, there will be exceptions. This is not carved in stone. There are some great brands that are longer that 10 chars. Like National Geographic, Harley- Davidson, and Coffee Bean and Tea Leaf (CBTL). However, overtime these long brand names discovered the benefits of using a shorter version of their names via abbreviation or the use of acronyms. Network Solutions eventually bought Netsol.com for ease of use. Ergo, if you can create a short name early on, the better. Shorter names are ideal for so many reasons:

It’s easy to remember,

Easy to type when people search in Google.

Easy logo placement in advertising mediums.
2. Remember “USSR” – Unique, Easy to Say, Spell, and RememberUniqueIt’s a noisy world. We are bombarded with more than 300 messages a day. How will you stand out from the sea of advertisements? One way to be distinct is by combining root words like Facebook, Scotch Tape, Band-Aid, Post-it, etc.Portmanteau defined:”Portmanteau is the combination of two or more words into one word.”Some well-known brand name portmanteaus are Microsoft, Groupon, and Amtrak. You can tweak and blend words like Netflix, Pinterest, Kleenex, Tweeter, and Krispy Kreme. Use abstract names. The likes of Xerox, Zipper, Jacuzzi, Velcro, Taser, and Kraft, these became big brand names. Avoid using hyphens or prefixes like “my”, “super” or “the” then attaching the company name. Stick with root words whenever possible. Cut the prepositions.Easy to SayIt is easier to ask for a product, when you’re at the shops, if the name is easy to pronounce. For example, take Fa├žonnable (fa-SON-ah-bluh), the French apparel brand. This is challenge to pronounce and difficult to remember.Easy to SpellYou don’t want to use the color Fuchsia as part your brand name. No matter what I do, I can’t spell this right. This will also complicate your optimization efforts in Search Engines (SEO). More of this in another article.Easy to RememberThe most memorable way to name a brand is by using alliterations.Alliteration defined:”Alliteration is the repetition of a sound in multiple words.”Great examples are Johnson & Johnson, Gumgum. And we have our share on this. Our very own Nognog – a famous brand of deep fried crunchy corn during the 80′s and 90′s that’s loved by everyone. This became a staple in every drinking parties. Another of course is Tira-Tira. An elastic, chewable candy made from sugar and coconut milk. This candy became every kid’s favorites because of its sweet taste and chewable nature. The Pinoy ingenuity never fails to impress.3. No negative connotations.Here are some words, when translated to another language or used in other forms, may connote a different meaning. So make sure you choose a name that’s not offensive to others.Ex. P&G launched a new soap in the US named “Dreck.” “Dreck” sounded like a German word for dirt, garbage, body waste and a four-letter expletive that cannot be published elsewhere.In Japan, automakers have marketed the Mazda Laputa. Unfortunately, these brand name will not sell to Spanish-speaking countries where “laputa” means “the prostitute.”Similarly, during the 1950s, there was a Swedish car magazine named “Fart.” “Fart” is a Swedish word meaning “speed.” Though is OK in Sweden, this would cause considerable embarrassment when the magazine goes international.You should also consider how people will relate to a name’s meaning. Pen Island, when used as a domain name (penisland.com), is not acceptable and will be obscene to others.In other words, naming your product doesn’t have to be that onerous after all. Just follow these simple guidelines, know your product, do a little research and there you go. You can create a compelling brand name in a breeze.