The Newsletter - Issue 6CREATE A PRODUCT LINE IN ONE NICHE? OR DIVERSIFY?Your best plan of action with your information marketing business is to build a strong product line, and then -- when you are well established in one niche -- you can start building in a second niche. Focusing on one niche and building a full line of products has many advantages.AVANTAGE #1 - Your Customer ListThe old saying "A bird in the hand is worth two in the bush" certainly applies to customers. It takes a lot more effort to convince someone to buy from you the first time, than it does the next -- and the next and the next. Once a customer has bought an info product from you -- and is pleased with your great service and quality product -- they are much more open to buy from you again.Now they know you! They had a good experience with you. The insecurity of buying from an unknown is gone. The customer who bought your e-book "How To Safely Shampoo Your Wallaby" is going to be ready and willing to pull out their credit card again when you release "Wallaby Feeding Secrets For A Healthy, Happy Pet". Remember, it costs you money to get customers -- whatever tactics you use to drive prospects to your website, there is some cost involved. Once you have gained a customer, it costs you next to nothing to keep in touch with them via a mailing list. With each new product that you add to your line, you can see greater profits. ADVANTAGE #2 - Only One NewsletterWhen you sell a line of products that are closely related, you can quite often use the same newsletter for all your customers. Since they have the same interests, you can provide the same information.The same is not true if you are creating a variety of products for different niches. The customers who bought your "How To Build An Authentic Log Cabin" are not likely to be interested in your discussions on Forex trading. Being in one niche will save you a lot of time producing good fresh content for your newsletter. It's a lot easier to consistently come up with good content when you're writing for one newsletter. ADVANTAGE #3 - Re-Packaging For More SalesWhen you create products in a focused niche, you also create the ability to re-package products. You can easily combine some of your smaller e-book projects into a larger manual. Mix and match different products into different packages. You can take parts of some bigger products and recombine them as a totally different product.For example, if you had created a set of guides on "Building Your Own Black Forest Cuckoo Clocks" and another set on "Recreating Austrian Watch Movements From The 15th Century" and yet another on "How To Make A Grandfather Clock With Westminster Chimes", you could pull out the best from each series and re-package them as a set of "How To Build The Greatest Clocks". ADVANTAGE #4 - Make Full Use Of Your AffiliatesBy creating related products, you will also be able to re-use the small army of affiliates that you built up with your first product.Why waste all these eager salespeople on just one product? It takes time to build up a good affiliate force, so you should keep feeding them new products to promote. And it will be darned difficult to convince those affiliates who promoted your "Weight Loss For Spoiled Lapdogs" to suddenly switch gears and start pushing your "How To Safely Remove Asbestos Tape From Old Heating Ducts". A TIME TO DIVERSIFYNow ... while I believe that you need to build a line of products in your niche -- and avoid being a "one-shot wonder" -- there does come a time to diversify into other niches.After you have built up a good, solid line of products in one niche, it may be time to enter another and do the same thing. When to do this depends upon your market. Some niches are ripe for many different products, while others may only offer opportunity for a few. After creating a number of products for one niche, you may also start chafing at the bit and be itching to start something new. As long as your first product line is well established -- and you have the resources of time and expertise to branch out -- there is no reason not to start a second line of products. SPY ON YOUR COMPETITION AND REALLY MAKE MONEY ONLINEThis week, I released the follow-up Mission to the Idea Generation and Market Research Mission. In this new Mission, I'm taking you through the super-spy techniques for finding your successful competition, uncovering all their money-making secrets, and applying them to your business -- to bring in the cash!9 Videos take you easily through 6 Assignments. In fact, the very first Assignment in this Mission is SO POWERFUL -- this one covert surveillance op alone is worth 1000 ... 10,000 times more to your online business than the modest $14 price tag of the whole Home Study Course. That under-price/over-deliver special is only available now, at the WSO. You can grab your copy here: [Note: This Digital Spying tutorial is now available at: http://spytowin.com] PROMOTE YOUR PRODUCT WITH MANY TACTICSWhen you are selling your product, use every available resource to bring traffic to your sales page. Last week, I sent out a slightly off-the-wall press release ... and it got published, bringing a bunch of interested prospects my way.If you haven't seen it yet, here's a study for you. See what you can do to promote your product: http://www.imnewswatch.com/archives/2007/02/watch_kevin_ril.html?visitFrom=0 NEXT WEEKHave a great week! I'll be back next week with a short talk about creating happy customers ASAP, and cutting down on returns.Until then, Mission Leader Kevin Riley
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Kevin Riley