The Life Cycle of Online Products

Like many things, products go through a cycle during their effective lifespan. These cycles are regular and predictable. A formal life cycle can help build an understanding of the pattern of stages that a product goes through.

There are many different life cycles each based on the focus and pattern, which the author is observing. In this article, I’m going to share a very detailed nine-step life cycle of an online product.

1. Plan

A good online product begins with a plan. The plan details much of the background information required for the online product. However, only the requirements for the product are provided.

2. Design

In this stage, the requirements are given form. The online product that was described in the plan is defined in detail. A detailed outline of the product is produced.

3. Produce

This stage varies depending on the media of the online product. For example, an eBook is written at this stage. A teleseminar on the other hand may be written but it definitely is presented and recorded.

4. Package or Publish

The online product is still in a rough state at the start of this stage — although it is in fact complete. This stage polishes the product and adds elements that turn it into a professional, salable product. For example, a video will have opening and closing credits added and a cover designed.

5. Generating Traffic

At this stage, the product is available. However, sales are not actually occurring. Instead, traffic must be generated in order to ensure that sales are sufficient to justify the costs so far. This is often referred to as a pre-launch stage although it can occur after the launch.

6. Marketing and Selling

At this stage, the product is available and the traffic has reached a stable point. Sales are reasonably stable. In this stage, the marketing emphasis has switched to finding the right types of traffic, rather than the growth focus of the previous stage.

7. Declining Sales

After a period of time, almost all products begin to experience a decline in sales. This may be because of market saturation or real or perceived obsolescence.

8. Bonus

Finally, the sales have dropped to the point that marketing and sales efforts fail to produce sales. At this point, the product is retired from sales. However, it becomes available for use as a bonus to support the sales of other products.

9. Retirement

Eventually, a product will cease to be of value even as a bonus. At this point, the product will be removed from the products for sale list.

Benefits of Internet Marketing Products

With the advent of the revolutionary World Wide Web, a new channel for business and entrepreneurship was opened, which took the market by frenzy. This new channel was called the ‘Internet Marketing Business’. Since its advent to till date, there has been numerous ‘Marketing Gurus’ coming out with their own copy write versions of internet products featuring their ‘100% successful mantras of making millions in marketing through web.’ Many of these gurus are cheats and most of these online marketing products are a sham. That is when Internet Marketing Product Reviews come handy.

Online marketing products have flooded the online market. These products are infused in to the market to assist naive and amateur internet entrepreneurs and to break their age old marketing methods and techniques and replace them with these latest ‘so-called’ foolproof strategies. However, we cannot label all the internet marketing products as a con due to few rotten eggs in the basket. According to many online marketing reviews many of these products actually are authentic and beneficial for your business.

Internet marketing products benefit you by helping you start, set up and build your business, especially internet based business, by proper guidance, strategies and tips. Many online marketers, especially amateurs, have benefited greatly from these products, forums and classes held by some of the most successful and renowned Marketing Gurus and Legends in their own sense.

Benefits of Internet marketing products:

Here when we discuss the benefits of internet marketing products, we are taking about only the authentic, successful and effective online marketing products.

The major part played in the success of this marketing product is of the positive online Marketing Reviews left by many critics, professionals, users and followers. These reviews helped these authentic and reliable products to gain wide spread popularity by spreading a word about their benefits and advantages for internet marketers.

These marketing products provide solutions and answers to common doubts and questions which swarm the brain of a novice internet marketer and entrepreneur. These solutions, tips and guidelines have been formed by marketers with vast experience in internet marketing and after years of research, analysis and experiments.

These internet marketing strategies and solutions can be acquired in the following manner:

  • DVDs
  • E-courses
  • Course study Materials and books
  • Correspondences and literature
  • Interactive Classes and forums.

People who have enrolled themselves for these online courses have benefited greatly from these classes providing the basic knowledge regarding internet business and operations. The newly turned internet entrepreneurs also have been successful in starting up and setting up their internet business by religiously following the directions and guidelines provided.

These products and courses equips the pursuers with knowledge regarding all aspects of internet business, like SEO, automatic income methods, PPC marketing, etc, which also helps already established businesspersons to expand their business and earn more income.

Warning:

As directed above, it is highly important to do your homework first before purchasing any of these products. Read as many internet marketing product reviews as possible and be sure of their creditability by attending a free class or seminar first.

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