It's the PROCESS, Not the Product

Many times business owners come up with an idea for what they think is a great product or service. However, many times they're surprised that the prospects they're selling to aren't as enthusiastic.

I thought about this title because a friend of mine showed me the website of someone with - surprise! - a really cool product they like, and they hope enough other people will like enough to buy. The premise behind her friend's marketing plan was to get enough people to buy this one product, and their business problems would be solved.

As I've learned over the years, that's not the most profitable business model to use. The initial product you sell to a customer should be the START of a long-lasting business relationship. You discover what problem(s) they want to solve, and provide products and services - either your own or from other biz owners - that will solve your customers problems.

You can become an affiliate for other quality products and services, and get paid for the sales that you refer to another busines owner. However, make sure that you only become an affiliate for good people with quality products and services - not just the ones with the highest affiliate payout.

Most of the time it's not the product, but the marketing process that will lead you to business success. And here it is:

1) Build a qualified list of customers and prospects. You can do this from networking events, landing pages, Pay-Per-Click (but only if the lifetime value of the customer is more than the cost of generating the lead), and opt-in forms on your website.

2) Communicate with and educate people on your list through e-mail, Social Media, teleseminars and/or webinars, and your website. There's an old saying in business: "The more you tell, the more you sell." Provide quality information that truly educates people about your industry, business, product or service - it can't be just a thinly-disguised sales pitch. People will see through that in a heartbeat.

3) Survey people on your list periodically. This is to make sure you're providing the products or services they want - not the ones you think are a cool idea. Many an entrepreneur has failed because they had a "cool idea." I'm not critizing innovation or creativity, but you should always TEST your ideas on a small scale... before rolling them out on a larger one.

4) Promote your - or someone else's - product or service, one promotion at a time. Try it for a few days or a week, then take a look at your numbers and evaluate your results. If you like the results you got, keep doing what you were doing - but remember that no matter how good a promotion or message is, it'll eventually suffer from "message fatigue." If the results aren't to your liking, you may want to try another product/service, or change the way you're marketing it to your list.

5) Rinse and repeat the process. Although it isn't easy, it is that simple.

Have a great weekend, look for another educational marketing post next week.