Monetization: Launching Your First Product
When it comes to blogging, there are a range of different ways to make money. At first, you may create a monetization strategy that is based on your readership, or even the level of traffic that you tend to get.
Once you’ve started working with affiliate marketing, earning advertising revenue, and even getting different forms of sponsorship, you may find that you’re ready for the next step.
This can often come in the form of launching your first product. But it’s not always easy to know exactly how you want to do that.
Here are some key steps to help you successfully launch your product.
Do Your Research
Before you can launch any sort of product, you need to dedicate some time to research first.
It’s worth digging around and discovering what kinds of products your readers would need and be interested in buying. What product suits your niche market’s interests? What is their pain point that you could fix? If your niche market has a certain problem that you could teach the solution to them via video training, why not package the lessons as an online course and sell it top them?
You can look into generic product ideas online, but to make a decision on what that product should be, you need to use your own data.
After you’ve worked out what product you’re going to launch, you then need to think about finding the right suppliers to make it happen. Whether it’s a graphic designer that can create an ebook or labeling solutions for your packaging, you need to research, collate prices, and compare companies.
Cost will be important here, but you shouldn’t look to scrimp on quality if you want your product to be a success.
Work With Specialists
From here, you’re then going to want to think about working with specialists to improve your product offering. If you have an ebook, can you get expert quotes included, or stats from a data research company to improve the information you offer?
If it’s a physical product like makeup, collaborating with a beauty blogger who is experienced in marketing is an excellent way to get your products seen by a whole new market of beauty enthusiasts.
Plan Your Launch
When you have a finished product, or even while it’s in development, it’s then time to think about your launch. Because you want to try and drum up as much excitement as possible. Whether you’re looking to generate newsletter signups to see how many people will be interested, or you want to host a launch day special, you need to set the plans in place as early as possible.
Market It Like Mad
But your marketing efforts shouldn’t just start and stop with the launch. You need to ensure that you’re extending things outside of this.
Related: Create your Social Media Game-Plan (Plus Free Downloadable Planner!)
If you want your launch to go well, and the product to succeed well into the future, your product marketing plan has to work in stages and aim to constantly draw in the right customers too.
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HerPaperRoute is a resource for bloggers to learn tips and tools to improve and monetize their blog and business. As such, this post may contain affiliate links, as I recommend products/brands that I personally use in my business. For more information, see my disclosures.