If the idea of building your own product ever crossed your mind, then you might have thought that’s far too risky and complicated. But here’s a newsflash – it’s not! (At least not after you’ve gone through our product creation boot camp.) Read along to find out everything there is to know about building a product – from mapping your idea out, to finding the best tools and resources to help you in the process.
Before delving into the specifics of building an information product, there are a few basic things everyone should know. First of all, if you plan on launching an information product, as the name implies, you must know the ins and outs of it. It’s imperative to have an understanding of all information this product will contain. And this leads us to the second important part of the process, the mind map. The easiest way to keep track of all the information you have is by creating a mind map. How you create it is up to you, but what’s important is to make it as detailed as possible. The more detailed the map the easier for you to create the course.
The Key Elements of a Course
A lot of factors make a course great, but there are 6 key elements each course should contain. The USP, the Positioning, the Target Market, the Outcome, the Length, and the Content Mapping. In this section, we are going to tackle them separately.
If you decided to make a course on a particular subject, then it goes without saying you know your niche. So, discriminate the biggest problems in your niche and find solutions to them. But bear in mind not to go overboard with content, too much information might be overwhelming. Concentrate on one simple thing like I do in my course. “Give me twelve hours of your day and I’ll help you create your own course.” That’s what singles my course out from all the courses out there. That’s my unique selling proposition. My USP. You need to determine how you are different and you’ve got to be sure people recognize that.
The next important thing to keep in mind is you are looking for an outcome. My outcome is straightforward. “Once you’re done with the session you’ll be able to walk away with your very own sellable course.”
The Positioning and the Target Market
These two elements are intertwined, and it all goes down to whom you are bidding to. Who your target is? I’m bidding to people who have no or very little experience with course creating. People tired of spending money on black Fridays and cyber Mondays. The target market aligns itself with the positioning. My target are people who spend a lot of money online. People motivated to create an online course but no one ever thought them how to.
The length is only important if the product you’re selling is a course. Let’s illustrate this with an example. If you decide to make an A-Z course on Instagram, no matter how exhaustive you make it, in 6 months time Instagram will change. (making your course obsolete).
So, instead of a onetime long course, you can create a series of courses. These should include the hottest tricks and hacks on Instagram. Such courses will be more useful for the customer and you’ll be able to charge as much as 47$ or 97$ per month.
It all comes down to the targeted market, the outcome you want to promote. But most importantly, the problem you want to solve.
The Content Mapping – Demo
The very first thing you should do is give your course a name. Then think about the content mapping. Whenever you start scripting out a course it’s always a good idea to start with wh-questions. Give the what, the why, the when, the where, and the how. Do bear in mind, however, you don’t have to confine yourselves to a particular order of branching. Just go around and transfer the questions until you’ve reached the perfect map.
- What – explain what your product is all about. Basically, this will be the introductory part of the course.
- How – this is the big question, and consequently, it will make up the biggest section of your course. Here you reinforce the idea that you have something unique to offer. This part should always include simple steps, optimally three. Seven is too much, one is too little.
- Where – Backlinking is also important. Consult other blogs or websites and include statistics in your courses. People love that. If you give out your content maps you can make the links clickable. This way the person who took your course can visit them as well. This is a great place to use affiliate links for extra money.
To see all these wh-questions exemplified feel free to take our course on product creation.
Tools to Use
Of course, old school pen and paper is the best. However, there are many online tools you can use to create your map: bubbl.us, draw.io, and freemind to name a few. I prefer the last one since it’s the simplest. While on the topic of tools, you will certainly need a membership site to bring all the content into. Kyvio is one such site. The next step is building a funnel. Keep it simple an opt-in page and a sales page after that.
Building Content to Giveaway – Lead Magnets
Whenever you are creating a product regardless of whether you’re selling it to a cold or a warm audience they might not want to buy it right away. There are a number of reasons behind this. People might not know you, they might not know the utility of your product. Or maybe the problem itself is not strong enough for them yet. Unfortunately, this means trying to sell them a solution can backfire. That’s why my suggestion is to build content to giveaway.
The key here is to build your content in such a way that people are willing to pay for it. If you can convince someone to pay money, even if it’s a dollar, then the barrier for them to give you their email is lower. And an email list is a very strong entity! So whenever you are building a lead magnet make sure to build it to the point where people would be willing to actually pay for it.
Even if your offer is for free, don’t expect people to take it right away. The free giveaway is something your competition is willing to do as well. But don’t let this discourage you. As long as your offer is enticing enough, people will choose you over your competitors. And here it’s not on the landing page itself but the offer on it, so positioning the offer is crucial. I recommend picking a major problem that’s bugging people (e.g. lose weight without moving from my desk). If you address the problem people will be willing to give you their email.
Once you’ve picked the major problem you have to make sure your solution fits your target’s needs. You can’t give a 50-page pdf to people who don’t have time to exercise, it’s pointless. You need to make sure you are solving a major problem and make it in a very short span of time (within the next few minutes).
The third thing you should remember is making sure that your solution leads to results quickly. So even if you offer me a solution I can execute in the next few minutes if I have to do it for a year that’s useless to me.
Think about the free offer and position it to solve a major problem. Make it so that it can be learned and absorbed quickly and it can lead to results quickly as well.
Types of Lead Magnets
There are two kinds of lead magnets that work really well: a checklist and a simple method. Remember that the speed of execution is the most crucial thing. A lengthy e-book is a big no-no.
A checklist – we created a checklist for people who wanted to create and launch products and we gave them 38 steps. Obviously, you cannot even read 38 steps within 5 minutes, let alone implement them. However, it allowed us to give people the training they can use in their business whenever they are launching a product. Even if their product launch lasts for two months. By executing these people will still get a good product launch out of it.
А simple method – to do something. Remember to break it down into 3 steps because it makes it easy to follow. If you can take a very long and boring process and break it down into bullet points people will be willing to follow that process.
The delivery mechanism for content and information is very important. Depending on what you’re selling you have to package it up accordingly. There are many different ways in which you can deliver the content you’re creating.
But remember to think about your target market. When delivering content to someone constantly on their computer doing a million things, go with the video. If it’s someone traveling all the time give them audio, adjust your product to your target market.
a simple pdf file
I recommend asking people to go back and check their email to get what it is they opted for. If they do that they’ll be more likely to open the email the next time. We often do this “Congratulations! A download link will be sent to your email, the email will be titled this.”
This is always a better option. It is easier to follow and easier to absorb the information. And above all, it gives you an easier way to transition into a sale opt if so you want.
a live training
Live webinars are also great but you have to be proficient in converting people to a webinar. Make sure you can convert people who show up for the call.
Building Content to Sell
First and foremost you have to convince people that what you offer is worth paying for. When it comes to paid products the value to entry is even higher. This is why you need to create an irresistible offer. The product is not just about the content itself, it is also about the positioning around it. So, make sure the product you’re trying to sell is not only useful but also desirable. People are more likely to pay money for what they want than for what they need.
Criteria for an Irresistible Offer
When you’re trying to put a price tag on your product check a few items from the following list:
- Will your product help people generate 10 times the result?
Think about whether or not what you’re offering will help others generate ten times the result of what they’re putting in. This is pretty straightforward when it comes to a market like making money online. Because, people paying 97 dollars for a month or two, can make a thousand dollars just by implementing what you’re teaching. However, if you’re creating a course on how to lose weight, there’s utility to it but there’s no monetary ROI.
So, the trick is to convince people they need this product. Point out that by being healthier they can add 2 hours of productive time every day and that means a lot of money within 30 days.
- Will your product be able to speed up the result?
Speed up the results or scale them up and you’ll be able to convince people that what you have is, in fact, an irresistible offer.
- Will your product take away the pain of doing something?
More often than not people would buy something (products or services) because it helps them get rid of the pain which comes by not having that. For example, if I don’t use Instagram I’m losing money because it is very profitable, and this is why I want to be on it.
- Will your product deliver 10 times the value?
is more intrinsic. It’s not so much about the result but how you feel about it. It’s all about the emotional value associated with the purchase. Not the logical value associated with the actual product.
- Is your product affordable?
This is not as important. A lot of people worry that if they price the product high people would get discouraged. But what you should focus on is the quality of your product. People would opt for the cheapest product and then they’d ask for a refund. Even though the price might seem like the first objection it’s actually the last objection. When the customer thinks the price tag is too high, point out that by not paying they are actually losing a lot more money.
Even if this might all seem a bit too complicated and I can’t vouch for the fact that you’ll build your own irresistible offer every time. The key is to keep trying until you find something which really works well. The first time might not be irresistible for everyone, but work a little bit on it and you’ll achieve it.
The lead magnet might continue to an opt-in page or a thank you/sales page. But don’t make the mistake of leaving out the transition. If you happen to exclude the transition you will not have good conversions over the long term. This transition from an opt-in to a thank you/sales page needs to be seamless. This means you should use a similar design, even similar wording. If you are using videos then make them similar as well. Then think about whether the product you’re offering will advance what people learned on the free training. Your lead magnet needs to connect perfectly with the product you’re trying to sell.
What should you actually sell? The important thing to remember is no one cares about what you know, they care about your ability to solve their problem. Start with something you realize is a problem for people. Look at people on social media and see what they are complaining about. Help other people and get paid in the process.
The other thing when creating courses is what I jokingly call the ASS model. Automate Systemize Scale. It works for every niche and every market. Any kind of product any kind of irresistible offer that sells well has to qualify in one of these 3 paradigms. It has to automate what’s working, it has to systemize what’s working, and scale up what’s working.
There are 4 different ways in which you can deliver the content you’re creating
The key with live sessions is to plan in advance and deliver later. If you ever are in desperate need of money using this strategy. Create a course plan and offer it to people for a lower price than what you’ll be asking for when it’s ready. Get as many people as you can to buy the product, and then work on it.
Usually, people first create the product and then the sales pages, now it’s the other way around. We first create the sales pages and then the product. This is what we did with the RunCrypto course.
Creating a mind map will take you 45 minutes tops. You understand the problem, you understand the solution, so the sales page is pretty straightforward as well. If you build a simple sales page on kyvio using templates it won’t take you more than 3-4 hours. The opt-in page will take you about an hour and you are all set. Everything’s done in less than a day’s worth of time.
With pre-recorded training, you have to anticipate what people want. You can do video training on-camera or on-screen. From personal experience, people loved my on-camera training called 21 Day Recurring Machine.
If you have an on-screen content you can use camtasia or other tools. But pre-recorded courses have some disadvantages. For instance, they take more time. You’ll be tempted to go back and re-record something just because you made a mistake. In live sessions, there’s no such thing. You’ll be tempted to take the course to perfection.
I would recommend pre-recording it only if the price for your course is exceptionally high. If you are just starting out do your first course live. That way you will realize what your target market wants and you’ll be confident enough to make it beforehand.
Pdf written courses, email-based courses, and general courses where you have typed a lot make up this list. These are good for people who like reading and people who sit on their computers. The advantage of these courses is you can add checklists and action items, but also you can convert them into audio courses. And the best part is, it can go the other way around. If you have a pre-recorded course or a live course you can transcribe it and have an e-course you can sell.
As the word suggests a hybrid course is a combination of all of the above. You can have a pre-recorded course combined with a written one. The greatest advantage of these courses is you can make money from the same course. You can initially sell the text-based course for 10 dollars. If someone buys it, you can sell them the audio as well as the video recording of that course for 37 dollars. From experience, 40-50 % of your customers will take you up on that offer.
Building Your Funnels – Ideas
People usually like to stay away from funnels, but you can make them in a very simple way. You can make what we call a 2 step funnel – it has an opt-in page and a thank you/sales page.
The safest thing to go about is to choose one of the three evergreen markets. Make money online, fitness, and dating. Give out a freebie and then a paid version of what you’re offering. This way you will give your customers a glimpse of what they can get if they paid. If they like your offer they’ll be willing to pay for it for sure.
This part goes beyond the product itself. Even if your product is top notch if your sales pages are not good you are not going to be able to sell it. So, my advice here is to go through copywriting courses whenever you’ve got the time. However, if you find this too time consuming then simply follow these 5 principles:
- Highlight benefits upfront.
- Highlight pain points.
- Offer a solution to these pain points.
- Introduce urgency.
- A strong call to action.
Well, that’s about it guys. For the tools and resources as well as a 1049$ case study be sure to join our product creation course for only 69$. You are only a click away from YOUR VERY OWN PRODUCT.