List Building or Product Creation?

86 replies
Hey Warriors,

I've been wanting to to create my own product for many months now but I'm afraid of getting it completely wrong, basically failing. I've spent the last couple months building a list in the IM niche, after finally taking the advice given to me here on the forum, and have gotten to an exceptional 4,209 subscribers. The only reason why I hesitate going into the product creation game is because I fear that I might not have the same security as I do with list building. I feel as if with a list, you have a secure, on-demand source of income, one that you can export and move around if need be. However with a product, after the initial release, your sales will eventually decrease in the long run (until you make another product). In the time I'm making a product, I could be building my list and increasing my income that way. Some could argue that by creating your own product and generating sales you are building a buyers list on the side, which can also supplement your income. But, you can do this too with list building through a simple sales funnel without having to create an entire product or launch. This is just how I see it. I'm leaning more towards list building. Of course I know that I don't have to give up list building altogether, I simply just want to know if the energy and time spent creating a product is in fact more valuable towards list building, especially for a newbie product creator, or am I just thinking about this too hard and should stick with what I've been doing?

Opinions?
#building #creation #list #product
  • Profile picture of the author wfletch24
    First of all congrats on your list building efforts so far. Personally, I would continue building your list as you are but also start releasing your own products as you go. Creating your own products does more than just create sales. It can give you authority in your niche, provide more value to your list of subscribers, build relationships with other marketers etc. When you create your first product sure it will take some time but it gets easier the more you do it. I think the combination of both is a very powerful.
    {{ DiscussionBoard.errors[9807426].message }}
    • Profile picture of the author nicolasmd2112
      Originally Posted by wfletch24 View Post

      First of all congrats on your list building efforts so far. Personally, I would continue building your list as you are but also start releasing your own products as you go. Creating your own products does more than just create sales. It can give you authority in your niche, provide more value to your list of subscribers, build relationships with other marketers etc. When you create your first product sure it will take some time but it gets easier the more you do it. I think the combination of both is a very powerful.
      Thank you for the advice.
      {{ DiscussionBoard.errors[9807437].message }}
      • Profile picture of the author Michael Shook
        I have created a dozen products or so. Some of them flopped, some were home runs. Honestly, it is a rush to see that people want to buy what you have created.

        I like to write and research, and create videos and audios. So for me, i really enjoy the product creation part. Listbuilding is equally awesome, and with a well treated list you can not only help people get what they want, but earn a good income along the way.
        Signature


        {{ DiscussionBoard.errors[9807456].message }}
  • Profile picture of the author wfletch24
    No problem! Are you currently monetizing your list with affiliate promotions? Another reason would be more of those profits coming to you instead of getting your piece of affiliate commissions. Especially when you start adding deeper sales funnels with a couple upsells.
    {{ DiscussionBoard.errors[9807458].message }}
    • Profile picture of the author nicolasmd2112
      Yes I am. I email 3-4 per week, and really enjoy the simplicity of it. It's just building a list, then emailing. Another reason why product creation may not be for me...p.s. I'm just summarizing I know it isn't THAT easy.
      {{ DiscussionBoard.errors[9807465].message }}
      • Profile picture of the author Michael Shook
        Originally Posted by nicolasmd2112 View Post

        Yes I am. I email 3-4 per week, and really enjoy the simplicity of it. It's just building a list, then emailing. Another reason why product creation may not be for me...p.s. I'm just summarizing I know it isn't THAT easy.
        If you like what you are doing, and it makes you the money you want, there is no reason to stop doing that. If you have your own product, there is no reason why you can't send emails with you own product for sale.

        I can tell you from experience, the first couple of times are the hardest to create products. But after that, its much easier and can be very enjoyable.
        Signature


        {{ DiscussionBoard.errors[9807484].message }}
  • Profile picture of the author wfletch24
    Yeah, you definitely nailed why affiliate marketing is such a great method. I will say as a product creator it does get hectic. There are so many small pieces of the puzzle that goes on behind the scenes that are not even part of the actual product creation process. For example, creating download pages, sales pages, OTO pages, product graphics, and the list goes on forever. Definitely not the simplicity of affiliate marketing.
    {{ DiscussionBoard.errors[9807482].message }}
  • Profile picture of the author LynnLinde
    You can always stick to what you are good at. No rules to what's right or wrong. Then again, you can treat product creation as something new to learn. Who knows, you might get interested to it and knowing how to make your own products can give you an additional income stream.
    {{ DiscussionBoard.errors[9807768].message }}
  • Profile picture of the author Monja
    I believe you need to do both - list building and product creation. Product creation will set you aside from the competition. There is so much free information but there is just that ONE product which is from you. So throw it all over board and enjoy the process, tell your list about it, I'm sure they'll be excited as well
    Signature

    Free Business Class on Skillshare:
    http://skl.sh/2bvH8nS

    {{ DiscussionBoard.errors[9807770].message }}
    • Profile picture of the author Ellrose
      I think that combining the two makes the most sense. Offering your own product does not mean that you have to stop your affiliate marketing.
      Also,by attracting your own affiliates,you can multiply both your earnings and your listbuilding.
      {{ DiscussionBoard.errors[9809148].message }}
  • Profile picture of the author vikash_kumar
    I think... You need to decide...as per your available resources in terms of time and money... If those resources are allowing you to try both the worlds then please dont waste a second not doing it.
    {{ DiscussionBoard.errors[9809162].message }}
  • Profile picture of the author sal64
    OK, here's my take on this...

    You will never make as much money as you will with your own product - period.

    I am actually putting a report together on this topic.

    Going the traditional way of building a product can be risky because you need to invest time and money ok?

    The key to making money is to know what your list wants... and build products accordingly.

    Don't worry about sales dropping off, because firstly, you will have more people coming on your list, and secondly, those who buy from you will remain your bread and butter customers, so you can simply make high profit products for them <- this is where the REAL MONEY is to be made.

    My suggestion is to make some small reports to begin with and sell them for $10 each. That will soon separate real customers from freebie seekers.

    And believe me, there is a massive difference.

    One big lesson I have learnt over 10 years is that the easiest way to get $100 from a prospect is to get them to give you $10 first.

    The next step is to see which report sells best... this is where you create your bigger product.

    I know this is different to conventional wisdom, but financially it makes sense.

    I have tried both methods and this one worked best. I also created a massive product that cost me $5k and only just broke even after 12 months.

    Start small - think big.

    Market first - test - scale. The ones that flop can just be used as bonuses or form part of the big product... so nothing goes to waste.

    Hope this helps. Feel free to PM if you have questions.

    Sal
    Signature
    Internet Marketing: 20% Internet - 80% Marketing!
    You Won't See The Light Until You Open Your Eyes.
    {{ DiscussionBoard.errors[9811886].message }}
    • Profile picture of the author antoni
      Thanks for you comment Sal. Where are you going to publish your report about this subject?
      {{ DiscussionBoard.errors[9814999].message }}
      • Profile picture of the author colinph970
        I don't think they are necessarily different business models. It's easily possible to create a product and then sell to your own list - that way you get all the money and not just an affiliate cut. Once you've sold that product to your list then sell it to others and also attract affiliates to sell it on your behalf.
        {{ DiscussionBoard.errors[9815037].message }}
        • Profile picture of the author Woodsusa
          As a relative newbie to list building, I'm pretty impressed with your numbers! I would probably buy a product on list building from you because you've obviously been successful with it, and have some valuable insights to share.

          I may be old school in my thinking, but I'm a firm believer that product creation should really be a natural extension of who you are as an authority. You don't want to force yourself to create something you don't know or care about, or your list will be turned off by it.
          Signature

          Let's make some awesomeness happen!
          Looking for Excellent PLR at great prices?

          {{ DiscussionBoard.errors[9815292].message }}
    • Profile picture of the author PASTRYCOOKBRIAN
      Hi Sal

      I would like to ask more questions please
      {{ DiscussionBoard.errors[9816393].message }}
  • Profile picture of the author surfer30
    I Believe you can do both of them build your list and do creation and if it doesn't convert you learn from the experience. if you create something Viral it will be sold. learn and take action Good luck

    Richard banson says ;
    If someone offers you an amazing opportunity and you are not sure you can do it, say yes and then learn how to do it later .
    Signature

    13 incredibly simple steps to build a healthy blog and make money online Blog Blueprint

    {{ DiscussionBoard.errors[9811900].message }}
  • Profile picture of the author Brent Stangel
    You will never make as much money as you will with your own product - period.
    How would you quantify that, exactly? If I make $100K this year from affiliate marketing that means I would make more selling my own products exclusively?

    Let's see...most affiliate products I promote pay at least 75-100% on the front. I have very little overhead and basically zero headaches. I also get credit for upsells, I can integrate my AR and more.

    I think affiliate marketing is the place to start. If at some point you see the need or desire for a product and you want all the responsibility that comes with a quality product, then go for it.
    Signature
    Get Off The Warrior Forum Now & Don't Come Back If You Want To Succeed!
    All The Real Marketers Are Gone. There's Nothing Left But Weak, Sniveling Wanna-Bees!
    {{ DiscussionBoard.errors[9811905].message }}
    • Profile picture of the author sal64
      That depends if you want to be an affiliate marketer or have your own products.

      They are 2 different business models.
      Signature
      Internet Marketing: 20% Internet - 80% Marketing!
      You Won't See The Light Until You Open Your Eyes.
      {{ DiscussionBoard.errors[9811989].message }}
      • Profile picture of the author yakim1
        Originally Posted by sal64 View Post

        That depends if you want to be an affiliate marketer or have your own products.

        They are 2 different business models.
        Yes, these are different business models. However your statement is false. I Don't know any product owners who only promote just their products. They also promote affiliate products. The two business models work extremely good together.

        You don't have to create product after product to keep a constant income coming in. Affiliate Marketing is one way to subsidies your income when your product is not bringing in as much as it did in the launch.

        Plus the product creation business model can be a model that brings in recurring income. This could include a membership site or a service.

        Recurring income should be your goal even if you are doing affiliate marketing. The list building becomes a little easier when you have your own products and should always be your number 1 objective.

        Best regards,
        Steve Yakim
        {{ DiscussionBoard.errors[9815695].message }}
        • Profile picture of the author Fred@IncomeLabz
          Here is just a few of my thoughts on what you said...

          Originally Posted by nicolasmd2112 View Post

          I've been wanting to to create my own product for many months now but I'm afraid of getting it completely wrong, basically failing.
          Failure is the key to success. Learn to fail as fast as you can and don't be afraid of it. Learn to view it as a learning tool and it will become less scary.

          Originally Posted by nicolasmd2112 View Post

          I've spent the last couple months building a list in the IM niche, after finally taking the advice given to me here on the forum, and have gotten to an exceptional 4,209 subscribers.
          Sounds like you're pretty good at list building. Create a course about how you did it. You don't have to create anything fancy like the gurus do.

          Just present it in a way that is easy for you and fun and effective for your students.

          Originally Posted by nicolasmd2112 View Post

          The only reason why I hesitate going into the product creation game is because I fear that I might not have the same security as I do with list building.
          Creating a product will allow you to grow your email list a whole lot faster. I know a guy who built an email list of over 66,000 just by launching his own product.

          Originally Posted by nicolasmd2112 View Post

          Some could argue that by creating your own product and generating sales you are building a buyers list on the side, which can also supplement your income. But, you can do this too with list building through a simple sales funnel without having to create an entire product or launch.
          Creating good products gives you credibility and projects you as an authority in your niche...

          And the more credibility that you have, the easier it is to build a list. (Your branding speaks for itself)

          Once people trust you and what you say, they'll basically sign up for anything that you're involved with. (Especially in the MLM world)

          Not only that, but creating your own product will allow you exponentially increase the amount of income that already earn.

          Affiliates products can be yanked at anytime.

          I had that happen to me once already...and it was making me a nice little income when the vendor pulled it.

          But if you own your own product, you don't have to worry about that because you control your own product.

          Basically, you have more control of your income when you sell your own products and not just someone elses.

          Just my t cents.

          Fred
          {{ DiscussionBoard.errors[9815839].message }}
        • Profile picture of the author WPC-advisor
          Hi,
          A few thoughts.

          - One of the principles of good long-term list building is great, valuable, relevant content IMHO. In my experience, that content needs to be aimed at a particular niche and answer a specific need/problem.

          - When I work withi client (subject matter experts) to build a list, the content generation and product creation go hand in hand. By the time they've written a years worth of posts, we can a) see which ones their audience liked the most and b) create product largely through curating this existing content. It is very low risk because the work is mostly done already.

          - I generally start with a free ebook or 2 or 3 on various core topics on which they've established some authority.

          - keyword research is a factor, as is post popularity (and a few other things) in deciding what the ebooks should be.

          - then, as we see which ebooks people like and download, it further informs our choice of product to create.

          -I often have clients also create added value.

          So, for example, take 5 blog posts on one topic, that together become a pretty great ebook with a small amount of editing and some good graphic desing. A relatively small investment.

          Then, augment that material with some videos that delve deeper in to a few of the most common questions that have been asked (we'll often just do a free webinar Q&A and record it as part of the product. That also tells us what kinds of questions the ebook doesn't go into enough depth on.) Then, add some quick reference material that makes it easier for people to implement your advice (cheat sheets, lists, checklist, reading recommendations, book reviews, infographics, flash cards, bookmarks - the possibilities are endless and depend on what people would need to make the product more practical IMHO.) You can even add on some partner products - you've no doubt seen that strategy many times where the bonuses are 5 great ebooks from other experts on related, but not competing, topics.

          Sorry to be long winded - to return to my orginal point, I guess what I'm saying is that content creation for list building can be leveraged for lower risk product creation. There is value simply in how you curate and package the content - even if it can all be found for free on your blog - as long as it a) addresses a specific, pressing problem/need for a targeted audience - something they want to pay for - and b) you have established some authority and a relationship with your list, and are not simply churning through people who join your list, but have no relationship with you - where attrition is super high.

          I guess it may be differnt if you are not an expert in your site topic. But even then, there are ways to create products over time - just using guest blogs, interviews, curation, reviews, etc.

          Just some thoughts...
          Jon
          {{ DiscussionBoard.errors[9815845].message }}
    • Profile picture of the author sal64
      I will also add...

      I have a friend who makes over $300k per year from affiliate sales. Not saying it doesn't work. Horses for courses.

      Like my comments said... here's my take on it.

      Now for the record, I define product not just some ebook or training product.

      I wrote a book back in 2004. It became a best seller down here.

      From that, I was able to launch a seminar and coaching career.. all my own products.

      So yes, you may easily make $100k your way. All I need is to get 10 existing, repeat customers who are loyal... whom I have built trust and rapport with to sign up for a $10k mentoring program...

      Spend about 2 months working it and take the rest of the year off.

      so both methods have their respective merits.

      Now regardless of what I pay you (my affiliate) on the front end... I the product creator will always make the biggest cut from the product. Once I have let you get me customers, I will then find those 10 passionate people and sell them into my program of which I choose to keep 100%.

      So I guess it comes down to if you are happy working as the employee or the boss. Either way is cool as long as it is what you really want and your income goals are met.

      How do I quantify it? That's how.
      Signature
      Internet Marketing: 20% Internet - 80% Marketing!
      You Won't See The Light Until You Open Your Eyes.
      {{ DiscussionBoard.errors[9812273].message }}
    • Profile picture of the author PASTRYCOOKBRIAN
      hi

      how to pm you?
      {{ DiscussionBoard.errors[9816403].message }}
  • Profile picture of the author Riki Stein
    Some thoughts, though I'm not sure if anyone mentioned any of them yet:

    1) Building your list on your own and getting that many subscribers is excellent!! Did you do it with free or with paid methods? Is your list buying things through you? I think people would love to learn how you got to this point - use your personal experience to teach that in a product of your own in a step-by-step manner.

    2) Creating a product and selling it (to others besides for your own list) will exponentially grow your list. And this time the list is of people who have already bought from you, and therefore trust you, so they're a good list to have (I don't know what types of people comprise your other list, so I'm not comparing - just saying).
    Signature
    Are you a newbie who would love to learn how to start making money online? Boy, do I have a free report for you!
    {{ DiscussionBoard.errors[9811998].message }}
  • Profile picture of the author Mike Hersh
    Don't they come together? You need to build your list and cover expanses using your own products.
    {{ DiscussionBoard.errors[9814764].message }}
    • Profile picture of the author sal64
      Originally Posted by Mike Hersh View Post

      Don't they come together? You need to build your list and cover expanses using your own products.
      Yep... give the man a cigar.

      One small product will serve you well as a lead generator.

      Even if you are going down thew affiliate road, a bigger product that is packed with info will work even better... if you just give it away for free.

      Your authority shoots into the stratosphere by doing this.

      But yes, back to your point...

      Also known as self liquidating front end products. The money is always in the back end, so even if the OP makes report and breaks even / loses money on it, back end sales will make him a small fortune.

      Sal
      Signature
      Internet Marketing: 20% Internet - 80% Marketing!
      You Won't See The Light Until You Open Your Eyes.
      {{ DiscussionBoard.errors[9816835].message }}
  • Profile picture of the author SunnyDelight
    Hey, just go for it! So what if you fail. Get back up and learn from what you goofed up on and do it again.

    If people don't like the fact that you're a human and humans DO mess up... then you probably don't want to do business with them or have them on your list no way.

    Much success to you my friend!
    {{ DiscussionBoard.errors[9814852].message }}
  • Profile picture of the author ozopps
    Well congratulations on building a list in short time. Maybe you could prepare a report on exactly how you did that?.
    It would have the authenticity of a beginner because you did it from a standing start. It will be straightforward as you will not have to research some new area and may appeal to the list you have as well as the wider I.M. niche.
    Signature

    I live on the interest!
    http://helpfor-u.com/betterlist

    {{ DiscussionBoard.errors[9814902].message }}
  • Profile picture of the author Amazonian1971
    Hello,
    Nicholas
    It is indeed a great effort that you have build your list. now next big thing is to start creating and finalizing your product so that you can offer them to your superscribes.time is money friend.do not stop building your list but simultaneously work on your product creation also.so that by the time you have good number in your list you will have your product ready as well. and you can launch it very effectively.
    Originally Posted by nicolasmd2112 View Post

    Hey Warriors,

    I've been wanting to to create my own product for many months now but I'm afraid of getting it completely wrong, basically failing. I've spent the last couple months building a list in the IM niche, after finally taking the advice given to me here on the forum, and have gotten to an exceptional 4,209 subscribers. The only reason why I hesitate going into the product creation game is because I fear that I might not have the same security as I do with list building. I feel as if with a list, you have a secure, on-demand source of income, one that you can export and move around if need be. However with a product, after the initial release, your sales will eventually decrease in the long run (until you make another product). In the time I'm making a product, I could be building my list and increasing my income that way. Some could argue that by creating your own product and generating sales you are building a buyers list on the side, which can also supplement your income. But, you can do this too with list building through a simple sales funnel without having to create an entire product or launch. This is just how I see it. I'm leaning more towards list building. Of course I know that I don't have to give up list building altogether, I simply just want to know if the energy and time spent creating a product is in fact more valuable towards list building, especially for a newbie product creator, or am I just thinking about this too hard and should stick with what I've been doing?

    Opinions?
    {{ DiscussionBoard.errors[9814926].message }}
  • Profile picture of the author MagicBrad
    Creating a quality product can take a lot of time and energy.

    And it DOES NEED to be a QUALITY and "relevant" product, or your list will turn on you almost immediately.

    My 2 cents.
    Signature

    BRAD "MagicBrad" GUDIM
    Mobile 612-242-6468
    http://www.MagicBrad.com

    {{ DiscussionBoard.errors[9815421].message }}
  • Profile picture of the author Tyler Pratt
    Let me help you out.

    Your first product, your going to fail. In fact, it will flat out SUCK.

    Your second product, you are going to fail, but not as much as the first.

    Your 4th product, you will start be good.

    Its the way it is.

    The more you do, the better you get.
    Signature

    Get the Top 11 Millionaire Tools and 7 Of them are FREE
    >> Yes Get Instant Access <<

    {{ DiscussionBoard.errors[9815426].message }}
  • Profile picture of the author tourist
    l do not like list building although thats most important.
    {{ DiscussionBoard.errors[9815474].message }}
  • Profile picture of the author nicolasmd2112
    Wow, thanks a bunch guys, this really does help! I'm going to take all advice into consideration.
    {{ DiscussionBoard.errors[9815477].message }}
  • Profile picture of the author HDRider
    List building and product creation go hand in hand. You should set up a sales funnel

    Squeeze page, free gift or short report, one time offer on thank you page with one of your closely related products, make some sales, then up-sell them later with your main high dollar product.

    Another thing that works well is to create a product, give them half after they optin to your list, charge for the rest of your product or course.

    Plus you always have your list to sell new products to. Ask them what they want. Take a survey, then create it.

    With your own products you have full control and can give your list exactly what they want. So many things you can do that you can't do as an affiliate.
    Signature

    ~ Ultra Fast Product Creation - Creating your own products is where the real money is... Let me show you how in this step by step guide.

    ~ Get Your Mind Right and Everything Else is Easy! Law of Attraction States...You Attract What You Think About.

    {{ DiscussionBoard.errors[9815488].message }}
  • Profile picture of the author Rick604
    Build a product , sell your product and grow a bigger list ....your well on your way congrats
    {{ DiscussionBoard.errors[9815508].message }}
  • Profile picture of the author jamescanz
    Ironically enough; both.

    Creating products allows you to build quite the powerful list.
    {{ DiscussionBoard.errors[9815600].message }}
    • Profile picture of the author discrat
      Affiliate Marketing can be very rewarding and so can Product Creation.

      Build a List in both. I know Selling Affiliate Marketing can be really hands off. You basically set up your System and just promote with little thought thereafter.

      Creating Product is an ongoing thing that once you master it, it can really take you to that next level.

      You do need to have Passion for it



      - Robert Andrew
      {{ DiscussionBoard.errors[9815620].message }}
    • Profile picture of the author Arun Chandran
      Originally Posted by jamescanz View Post

      Ironically enough; both.

      Creating products allows you to build quite the powerful list.
      Hit the nail right on the head.
      {{ DiscussionBoard.errors[9815768].message }}
  • Profile picture of the author PDLaughlin
    This is a great thread. And congrats on your list building efforts! In fact, I would be interested in a course on how you did that.

    Have you considered surveying your list and asking them what they need/want most right now? Or what's holding them back from achieving the income they want?

    Based on those results you will not only know that you'll have an in-demand product but it may give you the confidence you need to create a top quality one that sells.
    Signature
    [NEW] Client Getting P.L.A.N. Get all the offline clients you can handle without cold calling or spending a dime in marketing! Watch my free 3-video training series.
    Become a LEAD GEN CONSULTANT by Selling and Renting Lead Generation Websites to Local Businesses!... and check out our 50+ pre-made Lead-Gen Sites!
    All My Other Products in One Place!
    {{ DiscussionBoard.errors[9815664].message }}
  • Profile picture of the author OkonGeorge
    The money is in the list. A great product sell itself. Both are inevitable for a well prepared internet or network marketer. The most important thing is getting the laser targeted subscriber inline with your right and multiple products in formats.
    Signature
    {{ DiscussionBoard.errors[9815809].message }}
  • Profile picture of the author OkonGeorge
    The money is in the list. A great product sell itself. Both are inevitable for a well prepared internet or network marketer. The most important thing is getting the huge laser targeted subscribers, inline with the right and inline of multiple products offerings in formats.
    Signature
    {{ DiscussionBoard.errors[9815816].message }}
  • Profile picture of the author LizM
    Augment your product and list building by buying a very good webinar or product from a master right seller with the understanding you can resell it to your list. This will save you a lot of time whilst you develop your own product.
    Signature
    ***New Start-up Entrepreneurs***
    More about Entrepreneurs
    {{ DiscussionBoard.errors[9816239].message }}
  • Profile picture of the author jbsmith
    Very common question with a simple answer...you are in business to serve your market, provide them solutions, valuable products and shorten/simplify their journey toward their goals.

    How you get them there is (for pretty much every top marketer) a combination of affiliate products and your own products.

    When it comes to your own products - they can be one-time products like ebooks, reports, published work which do have a shelf-life (depending on the topic, that shelf-life can be years as many of mine have been), ongoing content products like membership products or regular group coaching products which can often sell for higher prices but require ongoing effort to maintain and deliver or services such as private coaching, consulting and/or contracted services.

    The way I approach markets is to typically begin with affiliate offers and content, get to know my market and then deliver my own products into the mix as I learn more about what they want and the gaps with existing products/services.

    The reason why you do want to mix your own products in are:

    1) Leverage time - create once and sell for some time - often years if you do it right
    2) Leverage effort - you can ramp up partners and publicity so that you have hundreds of active partners marketing the product for you...as you may have noticed, reaching the market is the most expensive part of any business, if you can create products that appeal to your own list, that can also be leveraged to a large partner/affiliate base which will, by the way, expand your list very quickly as well. You can build a list of 10's of thousands by having partners promote your offers with little to no up-front cost (other than the effort to setup the partners and help them promote)
    3) Having your own product further establishes your trust and credibility in your market which means that your list will tend to trust and buy other offers from you at a higher rate - at least that has been what I have found

    Hope that helps,

    Jeff
    {{ DiscussionBoard.errors[9816328].message }}
  • Profile picture of the author oadvantage
    I don't know if anyone has mentioned this:

    Segment your list

    1. Find the people who are on your list that interested in X, and segment them out. (You can easily do this with Aweber.)

    2. Use the rest of your list for what you are doing now.

    Try not to think of it as either/or.

    -William
    {{ DiscussionBoard.errors[9816451].message }}
    • Profile picture of the author sal64
      Originally Posted by oadvantage View Post

      I don't know if anyone has mentioned this:

      Segment your list

      1. Find the people who are on your list that interested in X, and segment them out. (You can easily do this with Aweber.)

      2. Use the rest of your list for what you are doing now.

      Try not to think of it as either/or.

      -William
      Another piece of gold right here for the noobs...

      Test your list with a few different reports on related topics and see which ones sell best.

      Then you can focus on scaling that product.
      Signature
      Internet Marketing: 20% Internet - 80% Marketing!
      You Won't See The Light Until You Open Your Eyes.
      {{ DiscussionBoard.errors[9816838].message }}
  • Profile picture of the author Bob Reynolds
    Way to go on the list. I would suggest, as well, keep building it, while you embrace the product development... it will a learning and growing process
    {{ DiscussionBoard.errors[9816918].message }}
    • Profile picture of the author bhavesh
      I believe strongly in list building as far as product creation is concerned, those who are expert in product creation they should be well supported with our own subscriber base to whom we can promote other people's product as an affiliate & earning good income.
      {{ DiscussionBoard.errors[9817332].message }}
    • Profile picture of the author yemm1
      Hi,

      You have done creditably well to build your subscribers to more than 4,000. It is a good way of getting started online. Now that you have a list before you begin product creation or selling to your subscribers, you need to find out what their needs are. You can send them emails or a questionnaire asking them their most pressing needs. From the responses that you receive, you can then analyse what you can sell to them that they will buy. Even at the stage of you developing the product, give them the opportunity of making further contribution that will improve the quality of your product. I believe with this, you will begin to make money from your list.

      Thanks.
      {{ DiscussionBoard.errors[9818662].message }}
    • Profile picture of the author vinuss hair
      I think whatever you choose, the first you must have useful content can share for people. Not just product or list, but also much more Additional things to make more people to know your list or product.
      {{ DiscussionBoard.errors[9823305].message }}
  • Profile picture of the author monitizer
    Both work hand in hand.
    {{ DiscussionBoard.errors[9816954].message }}
  • Profile picture of the author Edwin Torres
    Use both! Why don't you create a product and sell it your existing list? I bet you'll make a lot of money if its targeted to what your subscribers wants and helps them solve a big problem they have.

    Instead of looking at product creation and list building as two different things that can't be combined, why not look at them as friends that can make you a lot of money together
    {{ DiscussionBoard.errors[9818965].message }}
  • Profile picture of the author N4PGW
    Originally Posted by nicolasmd2112 View Post

    Hey Warriors,

    I've been wanting to to create my own product for many months now but I'm afraid of getting it completely wrong, basically failing. I've spent the last couple months building a list in the IM niche, after finally taking the advice given to me here on the forum, and have gotten to an exceptional 4,209 subscribers. The only reason why I hesitate going into the product creation game is because I fear that I might not have the same security as I do with list building. I feel as if with a list, you have a secure, on-demand source of income, one that you can export and move around if need be. However with a product, after the initial release, your sales will eventually decrease in the long run (until you make another product). In the time I'm making a product, I could be building my list and increasing my income that way. Some could argue that by creating your own product and generating sales you are building a buyers list on the side, which can also supplement your income. But, you can do this too with list building through a simple sales funnel without having to create an entire product or launch. This is just how I see it. I'm leaning more towards list building. Of course I know that I don't have to give up list building altogether, I simply just want to know if the energy and time spent creating a product is in fact more valuable towards list building, especially for a newbie product creator, or am I just thinking about this too hard and should stick with what I've been doing?

    Opinions?
    First, don't be afraid of failure. You already built a good list. Now you just need to keep them happy.

    Ask them for their questions. Many will ask. Your answers are your product. When you compile the answers together, you have a book or video, a new product to sell.

    If you don't have the answer, or if you give a bad one (FAIL) then you will lose some, but not all your list. In the meantime, you will correct your mistake and continue building.

    You have wasted enough time. now go get some questions!

    PS Don't stop list building.
    Signature

    {{ DiscussionBoard.errors[9819407].message }}
  • Here's my advice and I know the 99% don't agree with it but I think all of them are wrong. The people who get it wrong and do it are 1000000 times better off who don't do it perfect. But that's me. So just do it then fix it and do it again then it will be good versus the 99% who don't do #$@#$@# don't be one of them. Good luck.
    Signature
    soon people... Relax...
    {{ DiscussionBoard.errors[9819443].message }}
    • Profile picture of the author N4PGW
      Originally Posted by HelpingYouBeAnExpert View Post

      Here's my advice and I know the 99% don't agree with it but I think all of them are wrong. The people who get it wrong and do it are 1000000 times better off who don't do it perfect. But that's me. So just do it then fix it and do it again then it will be good versus the 99% who don't do #$@#$@# don't be one of them. Good luck.
      What he said ^
      Signature

      {{ DiscussionBoard.errors[9819899].message }}
  • Profile picture of the author olivermgilbert
    As your main concern appears to be stability in long term income, consider creating a basic product to gain some traction, then building a premium continuity program around the program.
    Money LOVES speed - So just get out there and do it! You'll be surprised at your result
    {{ DiscussionBoard.errors[9819911].message }}
  • Profile picture of the author rebornbriar
    Here is my simple take on it. You are currently building a list and emailing them affiliate offers. This can always look attractive from the get go as you can start to build a quick income stream. BUT do you know which of your customers are buying? This is where the money lies. Who is getting the "buyer" lead - the product creator, and the buyer is now also on his list.

    I was a financial adviser for 17 years. I specialised my advice and built up a small number of high net worth clients who did every bit of financial business through me. Other advisers were out working every night selling one product here and one product there - day after day and night after night. I sold about 6 products a year. Others used to ask me how many clients I had and I said I had about 20. They gasped and said they had about 2000. I replied, you have 2000 customers who purchased from you once, and they also purchased off other companies in the year. I had 20 clients who purchased everything from me.

    Notice the difference here. How many of your list can you call clients? These are who will make you the money. As an affiliate list, you will continue to need to add subscribers as they burn out the bottom end. It is like putting them into a bucket with a massive leak in the bottom.

    BENEFIT ONE - If you produce your own product, you will start to gain more credibility with your list, as you will start to show them that you know what you are talking about. It starts to turn you from a salesman into an adviser - and as an adviser, you start to build up a bank of clients, who are 10x more valuable to you than anyone on an affiliate list. Anyone who buys your product immediately does into YOUR buyers list.

    BENEFIT 2 - With your own product, you can start to set up JV arrangements. These JV partnerships will drive extra traffic to your product. If they buy, those people automatically move into your buyers list.

    BENEFIT 3 - As your product creation improves, then the amount of JV traffic it can attract will seem like a sudden tsunami in comparison to your list building efforts. Again this will substantially grow your buyers list.

    You then nurture this list and build up a relationship with them as an expert in what they are looking for. This can develop into one-on-one coaching opportunities and membership sites - higher ticket item offers, straight out to your growing "buyers list" at 100% commission.

    List building and product creation go hand in hand - one helping the other. But the faster you build a responsive buyers list, the faster your profits will grow.
    {{ DiscussionBoard.errors[9820556].message }}
  • Profile picture of the author nicolasmd2112
    Great advice guys, making my own product will definitely be one of my top priorities now.
    {{ DiscussionBoard.errors[9820948].message }}
  • Profile picture of the author Bob Reynolds
    Good going on the list building. I was having a difficult time trying to build my list for lack of learning how to get a convertible funnel at the beginning. After dumping several hundred dollars, with very poor results, I had to step back and invest what money I had towards a coach and started building a product. It is to launch on the 26th. It is stressful, and I am pushing to get it finished in time. It is work, it takes you outside your comfort zone.I think that besides the money and the extra authority, dong something outside my comfort zone is really stretching me to be a better marketer all the way around. hope that helps...
    {{ DiscussionBoard.errors[9823367].message }}
  • Do both..

    A product doesn't take to long to create if your efficient.

    Balance your time, to do both
    Signature

    [CENTER][B]==> Do you want to make money online? [/B]
    Free video: How regular people are making 6-figures per month on the internet! [URL="http://www.clkmg.com/fc27/UDCL-IN2WF"][B]Watch this free video now![/B][/URL] <==[/CENTER]

    {{ DiscussionBoard.errors[9823978].message }}
  • Profile picture of the author mywalkingshoes
    Originally Posted by nicolasmd2112 View Post

    Hey Warriors,

    I've been wanting to to create my own product for many months now but I'm afraid of getting it completely wrong, basically failing. I've spent the last couple months building a list in the IM niche, after finally taking the advice given to me here on the forum, and have gotten to an exceptional 4,209 subscribers. The only reason why I hesitate going into the product creation game is because I fear that I might not have the same security as I do with list building. I feel as if with a list, you have a secure, on-demand source of income, one that you can export and move around if need be. However with a product, after the initial release, your sales will eventually decrease in the long run (until you make another product). In the time I'm making a product, I could be building my list and increasing my income that way. Some could argue that by creating your own product and generating sales you are building a buyers list on the side, which can also supplement your income. But, you can do this too with list building through a simple sales funnel without having to create an entire product or launch. This is just how I see it. I'm leaning more towards list building. Of course I know that I don't have to give up list building altogether, I simply just want to know if the energy and time spent creating a product is in fact more valuable towards list building, especially for a newbie product creator, or am I just thinking about this too hard and should stick with what I've been doing?

    Opinions?
    Hi nicolasmd2112,

    That's impressive. Congrats on the 4000+ subscribers. I'm just starting out with my own niche site and hope to be where you are one day .

    How were you able to put together such a list? How many months did it take you?

    Thanks in advance
    {{ DiscussionBoard.errors[9830530].message }}
    • Profile picture of the author nicolasmd2112
      Hey mywalkingshoes,

      it took me about 5 months, and i used a form of pay per click traffic.
      {{ DiscussionBoard.errors[9830579].message }}
      • Profile picture of the author Affillionaire
        i know you have tons of input here, but thought i'd just throw in my 2 cents, because something you wrote rang a bell in my head...

        You said, "I simply just want to know if the energy and time spent creating a product is in fact more valuable towards list building"

        Let me 1st say, creating pay per click campaigns is not that hard and does not take a lot of "energy" to do. Maybe a little bit of time, but not to the extent that your too exhausted to do anything else in your business.

        But to add to that, if you have a well established email list that you connect with 3-4 times a week chances are you are making a consistent income if you are sending out promotions.

        So I would suggest maybe hiring a writer, developer, copy writer & designer to do the hard work for you if you decide to create a product. That way you can concentrate on building JV relationships and building hype about your new product.

        That would save you LOTS of energy if you you are worried about that.

        But let me ask you a question.....

        Have you ever made lets just say $25,000+ in 1 day from your affiliate promotions?

        Guess what can? Yep! A product launch.

        Now you are right, after launch week, you won't have as many sales coming in, but you "could" walk away with $100,000+ in 1 week.

        Not bad for a couple months work, right? Especially if you invest some of your income to hire a staff.

        But the launch process doesnt end there.....you'll have a funnel set up for some high dollar back end offers as well as continued affiliate promotions.

        So don't just settle. You have a skill on building a list. So use that to your advantage and share the knowledge and make some money on the side.

        I have already heard others on this thread saying they will pay you to teach them how to build a list.....that should tell you something!

        Good luck with everything!
        Signature
        Let Me Turn You Into An Xpert Marketer!

        Internet Marketing Doesn't Have To Be Difficult!
        Sign Up Now To Learn How To Drive Traffic, Build A Massive List & Convert Them Into Lifetime Paying Customers!
        {{ DiscussionBoard.errors[9830660].message }}
        • Profile picture of the author nicolasmd2112
          Wow, great reply Affillionaire, i really appreciate this advice! Best of luck to you too!
          {{ DiscussionBoard.errors[9830736].message }}
  • Profile picture of the author Custis
    Banned
    Use that list and sell your product to them.

    Even if you do not do that, launching a product provides huge amount of email subscribers.

    This mean you will be building your list at the same time!

    They will be buyers as well!

    Buyers lists are key to big money,
    {{ DiscussionBoard.errors[9830774].message }}
    • Profile picture of the author SanjeevM
      Product creation is one of the best ways to build a list. And the list quality tends to be a lot higher - they are buyers not freebie seekers, plus they are YOUR buyers. They bought from you.

      If you did a good job with the product you sold them, they will very likely buy from you again.

      Affiliate promos make an excellent backend strategy. However, be sure to handpick only good products and services to promote. No second-rate stuff.

      Having said that, I know someone who does over $100k per month in profits just from sending paid traffic to his landing pages where he promotes one or two affiliate products. He does not have a single product to his name.

      There are many ways to skin a cat...
      {{ DiscussionBoard.errors[9830906].message }}
  • Profile picture of the author N4PGW
    Since your big concern seems to be losing time you spend list building, you should consider hiring a VA to perform any routine tasks you do on a daily/weekly basis.

    In order to keep your list members from unsubscribing, you have to offer them something they find valuable. Show an interest in them by probing with questions about whatever attracted them to your list. For example, ask them what attracted them to get the book, and what other questions might they have.

    You can spend just a few minutes a day answering one question at the time and sending it to the list. Then, accumulate them all into an outline and either write a book, or hire a VA to write the book from your outline.

    If you spend $250 on the book and sell it for $2.50 each, it will only take 100 buyers from your list to make your money back. (Of course, you will probably sell it for $25 or more.) Since the book is made up of information your list asked for, your chances are really great that they will buy.

    By spending the time to answer their questions on the list, you are establishing yourself as the expert they want to hear from.

    I remember reading from one of the big-shots that whenever he needed extra money for something, buying braces for his child, he would create a new product and sell it to his list. Its a big boost to his income and he can still offer affiliate offers to his list. But, they remain with him because HE is the expert they want to hear from.
    Signature

    {{ DiscussionBoard.errors[9831431].message }}
  • Profile picture of the author Jay D
    I think list building and product creation go hand-in-hand. I assume you are promoting affiliate offers with your list?

    You'd make a lot more money promoting your own products. What's more, other affiliates will start promoting your products and you'll build a healthy buyers list that way.
    {{ DiscussionBoard.errors[9831467].message }}
  • Profile picture of the author maxsi
    I point to these:
    1) brand yourself
    2) list-building
    3) long-term relationship with your subscribers (and grow your list)

    We made $700,000+ on the internet just by following the 3 steps (above)
    {{ DiscussionBoard.errors[9831867].message }}
    • Profile picture of the author Affillionaire
      Originally Posted by maxsi View Post

      I point to these:
      1) brand yourself
      2) list-building
      3) long-term relationship with your subscribers (and grow your list)

      We made $700,000+ on the internet just by following the 3 steps (above)


      Just want to note 1 thing here to the thread starter...


      Just look at the above statement....


      There are a few points you need to consider.


      1 - Assuming that this is a true statement (which it quite possibly could be, I'm not saying it's not) they made $700,000+ in 1 year.


      2 - They did it by "branding themselves".


      3 - In the process the built a potentially HUGE buyers list.


      Now the point I'm trying to make here is that they made almost 3/4 of a million dollars by branding themselves 1st.


      Do you know the quickest way to brand yourself as an expert in your niche? You guess it....a PRODUCT LAUNCH.


      By creating a product you are now setting yourself apart as an "expert" in your field.


      Expertise = MONEY


      By branding yourself as an expert you are looked at with "authority" as someone who knows exactly what to do to get the results they need...so in return they are willing to pay for your knowledge.


      If you OVER-Deliver with a quality product, you'll be sure to have successful launch after successful launch.


      I know you've already got so much feedback already, but when I saw that post I had to chime in!
      Signature
      Let Me Turn You Into An Xpert Marketer!

      Internet Marketing Doesn't Have To Be Difficult!
      Sign Up Now To Learn How To Drive Traffic, Build A Massive List & Convert Them Into Lifetime Paying Customers!
      {{ DiscussionBoard.errors[9833190].message }}
  • Profile picture of the author jbsmith
    Having your own product actually helps you list build.

    Yep...

    Just as you would sell anything, you have a front-end sales funnel that helps you build a list and then market your products - so it is not an either/or scenario.

    Further, having your own products in 3 different niche markets actually helps our credibility which enhances our list building ability (more people recognize and trust us) and helps us convert the list on offers because they see us as more credible than others who have not branded themselves "experts"

    If you really step back and take a look at your business you will see that list building and creating your own products are very synergistic

    Jeff
    {{ DiscussionBoard.errors[9832127].message }}
  • Profile picture of the author Phil Wilkinson
    The two BIG maxims of nearly all the successful IMers are:

    1)The money is in the list
    2) If you want to make the BIG money, you must have a product

    Both are true. Both are doable, simultaneously.

    People like Andy Brocklehurst and Barry Rodgers have shown numerous times on WF that product creation does NOT have to take the amount of time that many are convinced it will.

    It's a matter of having the right training...and the right tools.

    The more you do anything, the easier it becomes, and the faster you get at it.

    Why not do both?
    Signature

    {{ DiscussionBoard.errors[9846419].message }}
  • I do both, and it works..

    Great for me..

    Balance your time, and you'll be fine..

    Product Creation can only amplify list-building
    Signature

    [CENTER][B]==> Do you want to make money online? [/B]
    Free video: How regular people are making 6-figures per month on the internet! [URL="http://www.clkmg.com/fc27/UDCL-IN2WF"][B]Watch this free video now![/B][/URL] <==[/CENTER]

    {{ DiscussionBoard.errors[9851230].message }}
  • Profile picture of the author TheProductReviewGuy
    Banned
    Honestly, the best thing you can do is doing both. If you can create a list of buyers, your list would be PRICELESS. I would rather have a list of 100 buyers than 1000 freebie seekers. Just do both and you will make more money in the long run.
    {{ DiscussionBoard.errors[9851233].message }}
  • Profile picture of the author nicolasmd2112
    Great advice and feedback guys
    {{ DiscussionBoard.errors[9852310].message }}
  • Profile picture of the author kcbowman
    You should build your list, in a specific area then create the product on the niche of the list.

    This is just theory. I haven't done it. I built my product first and I have no list, but I'm sending paid traffic to a sales funnel.
    {{ DiscussionBoard.errors[9852315].message }}
  • Profile picture of the author smoor2012
    I am going to agree with wfletch24 on this. You have done something huge building your list to that many subscribers.

    At this point, keep doing what you have done to build your list and keep building it. It is the core of your business.

    You can also begin to spend a little bit of time each day working on research and putting your product together. It doesn't need to consume your whole day, and nobody is putting pressure on you to finish by a given date.

    You decide your goals with the first product. Work on it for maybe an hour, and walk away til the next day. Rinse and repeat on your time schedule.

    From time to time, let your list know what you are doing and create a little suspense. Maybe even poll your list from time to time to see what their thoughts are on parts of the content.

    One more thing, also. Your very first sentence you said you were afraid of "basically failing". I don't think you will fail anyway, but you have to not worry about failing. That fear will freeze you up.

    Face your fear, go to work, focus on the success you want to have. You will learn as you go, and the second product you create will be even better than this first one.

    There will have to be a first one before there can be a second one.
    Signature

    PM me and I will respond as soon as possible

    {{ DiscussionBoard.errors[9852898].message }}
  • Profile picture of the author Jeff Gilbert
    Like many others here have said, don't be afraid if it flops the first time around, just write a second one hopefully it will do better. And especially the smaller information products are great for building your list. The two processes go hand in hand.

    Even if every month you created one lousy report and it got even more people on your list, (4,209 is nothing to sneeze at by the way) by the end of the year, you'd have 12 reports, and more people on your list and a lot more confidence. That's more than what you started with. And hey, you may be better than you think...
    {{ DiscussionBoard.errors[9907069].message }}
  • Profile picture of the author ricgrb1
    I do both. It's good to have multiple sources of income
    Signature

    Get my udemy course How To Write and Sell Articles on Amazon free
    http://rickgrubb.com/freeamazoncourse

    {{ DiscussionBoard.errors[9907112].message }}
    • Profile picture of the author Isandy
      Well right now I'm focusing my efforts on list building and doing it great, later when I build a bigger list I'll start to focus on creating products... I'd rather master something first than changing to something different.

      Congrats on your accomplishments.
      Signature

      If you are one of those people that are looking for a way to make it online, then we should be in contact...

      {{ DiscussionBoard.errors[9950159].message }}
  • Profile picture of the author mediamarket
    List building and product creation go hand and hand. If your starting out, them try listing building and promote other products.
    Signature
    HOW TO START SOCIAL MEDIA MARKETING TODAY:

    FACEBOOK MARKETING: The Ultimate Beginner’s Guide To Facebook Marketing

    TWITTER MARKETING: Twitter Marketing: A Comprehensive Guide for Beginners
    {{ DiscussionBoard.errors[9950171].message }}
  • Profile picture of the author Winning34
    This is one of the best threads I've seen on this subject. It's good to see warriors giving and getting some solid advice.

    I'd be interested in getting an update from nicolas. Did you create a product? Are you still list building?
    {{ DiscussionBoard.errors[9950458].message }}
  • Profile picture of the author Dilip Mane
    You don't necessarily need to create a high end product if you are afraid of it's success. You only need to invest your time and efforts in creating a teaser product of a high quality which ultimately is going to help you build and grow your list.

    You can do this in any niche and so you can build your lists in multiple niches. Also, the experience and confidence that you gain with this approach will be quite helpful to you if you decide to go for a high end product later on.

    Buyer's list is no doubt a big business asset and one must have it in online business. You may have it with your list segmentation as well. And of course, this is the same list that gives you a clear indication about how well your new high end product is going to be sold if you test it first with this list.
    {{ DiscussionBoard.errors[10109293].message }}
  • Profile picture of the author Robert999
    Originally Posted by nicolasmd2112 View Post

    Hey Warriors,

    I've been wanting to to create my own product for many months now but I'm afraid of getting it completely wrong, basically failing. I've spent the last couple months building a list in the IM niche, after finally taking the advice given to me here on the forum, and have gotten to an exceptional 4,209 subscribers. The only reason why I hesitate going into the product creation game is because I fear that I might not have the same security as I do with list building. I feel as if with a list, you have a secure, on-demand source of income, one that you can export and move around if need be. However with a product, after the initial release, your sales will eventually decrease in the long run (until you make another product). In the time I'm making a product, I could be building my list and increasing my income that way. Some could argue that by creating your own product and generating sales you are building a buyers list on the side, which can also supplement your income. But, you can do this too with list building through a simple sales funnel without having to create an entire product or launch. This is just how I see it. I'm leaning more towards list building. Of course I know that I don't have to give up list building altogether, I simply just want to know if the energy and time spent creating a product is in fact more valuable towards list building, especially for a newbie product creator, or am I just thinking about this too hard and should stick with what I've been doing?

    Opinions?
    Personally I would prefer to make my own products once I have a good list of subscribers in a particular niche. Because I know what kind of products people are actually buying from me already. I would promote them my own products to take full profit.
    {{ DiscussionBoard.errors[10109589].message }}

Trending Topics