Internet Marketing for Small Business – How to Develop Your Online Product

Developing a successful internet marketing strategy for small business needs a solid online product to market with. In fact, this is the most important step to establish a successful business online. If you fail to fulfill this step properly, your chances of success as an online business entrepreneur would be minimal.

Sometimes people think that developing a product for small business is quite difficult and only experts can do it. It’s not true always. In fact, you too can create the product by yourself, if you have the required skills and passions in you. However, make it sure you study this guide thoroughly before you even start thinking of product development.

Qualities of Successful Online Product

Before we move any further about how to develop product and do successful internet marketing for small business, let’s find out the qualities of a successful product.

A successful online business product must be able to –

  • Trigger an emotional reaction
  • Solve the problem of the target group of buyers
  • Offer an instant gratification
  • Provide easy solution of the problem
  • Promise to deliver better quality compared to competition

Types of Successful Online Product

There are tons of products available online, but not all of them are successful. On the other hand, there are a few types of products which are always on fire. So, our next step is to find out the types of products that have huge potential.

The top sellers in internet marketing for small business can be broadly categorized as follows –

  • Information
  • Application
  • Private / Membership Sites
  • Web based Services

Steps to Develop a Successful Online Product

Start researching on your targeted niche and then decide on the types of product you may like to develop. Once you have decided on the type, it’s now your turn your head to do more research. Find out what type of problem users are experiencing and what motivates them to make a purchase.

If you fail to perform any of these steps, you are at high risk for messing up with your product development venture. So, let’s check out the key points to develop a successful online product for your small business.

The entire process may take a little more time, but it is definitely worth your time. The key points here are –

  • Targeting niche
  • Choosing product types
  • Find out the problem
  • Analyze buyer’s motivation
  • Be a problem solver

So, these are the steps that you must follow to develop a successful online product and do profitable internet marketing for small business.

To your success

Domenico Greco

Top 4 Tips to Create An Online Product Training Material

Product knowledge training is essentially aimed at training employees of organizations to share and update useful information about its products, their features and benefits. However, many a times, learners are overwhelmed with the amount of knowledge they need to grasp all at once. Thus, online product training material needs to be customized accordingly so that learners can absorb the required amount of knowledge as well as apply the same practically. Here are some tips that can help you to develop effective online product training courses.

Set the learning goals beforehand

Charting out the learning goals well in advance allows you to create a product training course, which is effective as well as functional. For this purpose, you need to define your target audience at the very onset in order to confirm their requirements. Normally, the target learners of product training course are usually, the sales team, service team or customer service representatives.

However, a course designer needs to know that the training material for a sales team would be different from the one intended for customer care representatives. For example, a salesperson needs to know the value proposition of the product so that they can effectively convey it to the prospective customer. On the contrary, a customer care executive should be aware about troubleshooting techniques so that he can help customers when faced with service issues. The online training program should be able to address these individual learning goals.

Determining how much information is required

Depending on the requirements of the individual group of learners, the training material needs to be tailored. Thus, determining the quantity of information required for catering to a particular group is extremely important. While a sales person might need a particular level of knowledge about products, a service engineer or technician might require an in-depth technical knowledge of the product. Therefore, organizing training material according to the learner’s profile makes it more relevant and productive.

Focus on the motivation levels of learners

Considering the motivational levels of learners is extremely important when designing a course. Unless you know what motivates your target audience to take up a particular course, you won’t be able to provide anything relevant to them. For example, a salesperson is likely to be interested in knowing the benefits of a particular product, while an engineer will be keen on learning about the technical aspects of a particular product. Designing course materials according to multiple choices is likely to trigger interest in joining online training programs.

Create a brief structure for long product line

Many a times, the training course has to deal with long product lines of the company. In such cases, the instructional designers should focus on creating a brief structure that is relevant to a majority of the products. You can furnish information with the help of info-graphics, where you can focus on individual features, benefits, cost and their USP.

Follow these tips to create a product training course that yields value-added results in terms of employee training.

The Five Stages In the Life Cycle of Online Products

Life cycles are an extremely useful concept. Like most models, they help people to visualize the progress of an online product under certain conditions. They help people to predict the effects of decisions within the life cycle of that product.

There are a number of different life cycles. In fact, everyone who has an interest in an online product has some form of life cycle. Learning content creators have their version of a life cycle based on the effort. Accountants have their view of a life cycle based on income. Project Managers often have two. One based on the development cycle and one based on the types of projects needed. And marketers have their view.

In a previous article, I suggested a very complex life cycle. However, in this article I’m going to describe one life cycle of online products as seen by a marketer.

This marketing life cycle consists of five steps.

1. Pre-Launch

The period before the launch of a product is the focus of many other life cycles. But for a marketer, this time is used for two main purposes. The first is preparation of a marketing plan and marketing assets to be used later in the life cycle. However, this period is also used to create a buzz. Frequently this is a very heavy period of marketing as pre-orders are important to recovering the cost of development of the online product. A large pre-order also helps to focus partners on the product so that they continue to support the marketing effort in the next stage.

2. Growth

Once the product is released there will be an initial period where sales grow. While the pre-launch focused on the initial penetration of the market, this stage is more concerned with obtaining a commanding share of the market. This period is often characterized by high marketing spending with respect to profit.

3. Stabilization

In time, the market begins to reach equilibrium. While new competition enters the market, it tends not to disrupt the status quo. This stage is characterized by high profit with limited market spending and a stability in the market share.

4. Decreasing Sales

As time goes by sales begin to decrease. This can be caused by an obsolete product. Or it may be a market-wide phenomena caused by market saturation. Or it may be the result of an alternate innovative market arising. In any case, this stage is often characterized by wild swings in marketing spending. This is the result of increased spending on marketing with little result followed by a demand to reduce spending in order to increase profit. Determining the value of increased marketing spending during this time can be frustrating and frightening.

5. Alternate Use

This is sometimes referred to as retirement. However, I prefer the concept of alternate use with online products. Online products are most often used as bonuses to improve the sales value of other products. Actual retirement is frequently used to adjust the market demand. Online products are also frequently improved and renamed with a version which somewhat eliminates their retirement in this stage. However, regardless of the strategy chosen, this stage is characterized by the withdrawal from sale of the product and the associated suspension of marketing efforts.