Michael Wilding

Category: Product Generation

  • How To Create a Non-Spammy Super-Hot Converting Product Name

    How To Create a Non-Spammy Super-Hot Converting Product Name

    It doesn’t matter whether you’re giving away a product to get people onto your mailing list, or selling something for five figures. You’ve got to come up with a name for it.

    Coming up with a name shouldn’t be long or difficult, yet it’s something that people agonise over for weeks, if not months.

    A good friend of mine was releasing a new product to his offline business and it took him six months to name it.

    Six months!

    The product was literally ready to go except the packaging while they debated on the name.

    I was like… get the hell on with it and sell the damn thing. God knows how much that cost him in sales.

    Anyhoo I digress.

    We get stuck naming products because we try to think of something that’s going to still sound good two years, five years and even ten years from now.

    The one simple truth is… digital products can change their name easily. If you decide you don’t like the name of your product in a year then just change it. If you tie that in with an update then you’ve got a valid reason to make the change.

    Here are the things I recommend you do when naming a digital product:

    1) Keep the name of your product as short as possible.

    You’ve got to write about your product and there are more and more limitations on the amount of characters you can use in social media, you don’t want to run out of space because your product name is so damn long.

    2) What’s the language of the people who’ll buy your product.

    I don’t mean English, I mean how do they speak and what slang do they use. Check out the products they’re already buying and love and consider how they talk about them in forums. Use their language in your product name.

    3) Avoid spammy sounding names that the ‘gooroos’ all use.

    If you want to get people buying your product who are actually going to be successful, then don’t call it something like “Super-Fast Money Machine”. A product name like that will only attract people hoping to get rich by doing nothin. And we all know that you can’t get rich by doing nothin 😉

    4) Don’t copy another products name.

    Copying another products name does one thing… makes you look like an uncreative cheap replica. If two handbags were the same price and one was by Prida and the other Prada which would you buy? Yup the original. So keep your name original too.

    5) If in doubt make up a word.

    If you’re struggling to come up with a name then simply make up a word. Lots of the biggest brands in the world have simply invented names for their products. The words didn’t exist before they created with them, so don’t be shy about doing the same.

    Whatever you do don’t agonise over the name of your product. It’s commonly used as a way to stall actually doing anything. If the product is good then it will sell whatever the name is. Just name it and release it, you can always change the name later.

    All the best,

    Michael

  • My $40,000 Lesson

    My $40,000 Lesson

    Ever felt like crawling into a hole and never coming out?

    That’s what I felt when I realised that a product development I’d been working on for nine months was a waste of time. Not only had I been developing it for nine months, but it’d also cost me $40,000.

    Damn.

    Let me tell you that hurts.

    And what was the reason? My own stupidity.

    You see I’d wanted to create this product for years. In fact I’d become desperate to create it. Desperate to the point where I was no longer focusing on the crucial questions you need to ask when creating a product.

    Yes it would solve a problem that people in the market had, and it worked well.

    The issue… it was too damn complex to use. The learning curve was too steep.

    FFS. I shoulda known that was going to be the case. And I use lean development techniques, which means nothing should take that long to build. If it’s going to take longer than eight weeks to create the first release, then there’s a problem and I should be re-looking at the product to see what it is.

    When creating a product you need a complete step-by-step process so that you don’t spend a dime before your 99% sure it’s going to work.

    Here are my three rules:

    1. It has to fulfil a demand in the market, solve a problem and provide a minimum of three big benefits to customers.
    2. It’s got to be easy to use with no large learning curves, or have a starter version that’s simple.
    3. First release has to be developable within eight weeks otherwise it needs to be made simpler.

    If you’re looking for more details on how to create products then Sarah Staar has a pretty damn good course on it here.

    All the best,

    Michael

    P.S. Sarah’s course isn’t that new, but the information in it is timeless, and it’s cheap as chips. Here you go:

    >> https://michaelwilding.com/recommends/?id=ssprdctcrt

  • I Do This Best On My Hands And Knees

    I Do This Best On My Hands And Knees

    We’re staying with friends at the moment and they’ve got a real fire.

    Depending on where about in the world you are, this may not be any big deal. But in London… not many people have fireplaces. At least not the sort that actually take wood and can be used.

    Now what does every male of the human race do when they see a fire?

    Get it started.

    It’s some kinda sign of masculine ability.

    I think that it’s to do with wanting to create something out of nothing, some kind of inbuilt animal need for fire.

    My first attempt was pretty awesome. Everybody was impressed.

    But then I’ve spent a lot of time travelling, and quite a chunk of that in jungles, where you need to be able to light fires if you want to eat. So I kinda cheated a bit.

    To be honest I find creating products far more of a pain in the ass. If you’ve ever created a product then you’ll know what a pain in the ass it can be.

    Seriously, it’s damn hard work.

    As is putting a product launch together and everything that comes with it.

    Now imagine doing all that and then finding nobody wants the product.

    Has that happened to you?

    Because if it has then you know that it sucks balls. Big time.

    The secret is to sell your product before you’ve made it. 

    It’s a frickin awesome way to make sure your product is viable before you even build it. And… you can do this with just a mailing list and a crappy sales page. Heck, you don’t even need a sales page. You can do it all from email if you like.

    It’s quick.

    It’s fast.

    And you can find out the demand for your product before you’ve spent all the hours in building it.

    Want to know more about how to do this in just three steps?

    Ask me for the info in our Facebook group here and if at least 5 people ask then I’ll post the three steps.

    (You’ve got to be part of my Marketing Mastermind to access the Facebook Group, you can join here… it’s Free!)

    I’ve got a bunch of stuff I want to chat about today. So I’ll be back in a few hours.

    See you then,

    Michael

    P.S. If you’re not yet a member of our private Facebook group then hit the Join button and I’ll approve your request ASAP.

  • Get Leads Without Marketing

    There’s one thing that every business needs… leads.

    And there’s a ton of ways of going about getting them.

    But in this post I want to focus on just one of them.

    It’s a technique that not many people use, and it’s one that can get crazy conversions.

    The reason that not many people use it is because they think that there is too much work.

    However… I’ve seen optin rates of over 90% using this technique with sales conversion rates of 10% and 20%.

    The bottom line is that anything worthwhile is going to take some time. But it’s about focusing on doing that things that generate the strongest result for the time spent.

    To use this approach you want to start in your Google Analytics account. Login and go to the Behaviour and then Overview buttons.

    Screen Shot 2015-10-25 at 22.16.40

    Next click on Site Content and choose All Pages.

    Screen Shot 2015-10-25 at 22.17.36

    What you will see now is a list of pages and the amount of visitors they’ve received over the timeframe set at the top of your analytics page.

    Start by taking the top five posts from the last three months.

    These are the posts that have been generating the most amount of traffic for you and it’s this traffic that we want to convert into leads.

    Start with the first post in your list and look at what that post is all about. Ask yourself this question:

    What problem am I solving for people in this post?

    When you’ve found the problem that you’re solving in the post you now need to ask yourself:

    What difficulties would my readers face implementing this solution or what problems will they still have?

    Spend some time thinking about the best answer to this question and keep writing it down until you can put your answer into a single short sentence. About the length of a Twitter status update.

    You now have the knowledge of the exact product that the people reading this page are going to want to have access to.

    There are two ways that you can progress from here depending on how long it would take you to build that product.

    Route 1

    This is my preferred route as it has a built in method of immediately monetizing your leads. However it may take you longer to implement. If you don’t have a lot of time to create a product and nobody to do it for you, then I recommend you take Route 2.

    Create the product that you outlined above.

    Once that product has been built take from it the element that allows the fastest implementation and shows the strongest results.

    It’s important to get a balance between implementation time and speed. Most people are pretty lazy, which means they want something that is quick and simple to do. However you also want them to buy your products, which means that whatever you’re showing them to do must also yield results.

    When you’ve chosen this element that has the best balance of speed to implement and results, take it out of the main product and turn it into it’s own product.

    This is going to be your lead magnet. It’s going to be what you use to get people onto your mailing list.

    Go back to your post and in the middle (if your post is 1500 words or longer) and at the bottom create an optin box for readers to get your lead magnet.

    I personally use Thrive Leads as my WordPress plugin of choice as it’s quick and simple to create these optin boxes in your posts and it will allow you to split test not only the design but also to try different locations in the post to find which one converts the best.

    You already know that everybody landing on your post is interested in the problem you’ve solved in it, which means that this traffic is hyper-targeted to your lead magnet.

    After a reader subscribes to get your lead magnet, deliver it via email and then take them straight to a sales page to upgrade to the full product.

    If they don’t upgrade immediately then send them into a 4 part email sequence selling them the product.

    If they still haven’t purchased it, offer them a free trial or a payment plan.

    Using this process you will not only find you are able to convert 75% and more of the visitors to this web page into subscribers, but you can also monetize the majority of them almost instantly.

    Route 2

    Product creation can take some time, and if you don’t have it then you may want to choose route two.

    This route skips out the part of creating the product and jumps immediately to the lead magnet creation stage.

    Look at what the product would be in detail and, like above, take out of it the single element that can be implemented fastest and would show the best results.

    Make your lead magnet and create your optin.

    You can deliver the lead magnet either via email or on a thank you page after a visitor subscribes and then implement the sales funnel later on when you’ve had time to build the full product.

    In Summary

    There is no doubt that this approach can take some time to put together. But it can yield some of the best results both in optin rates and sales conversions that I have ever seen.

    You are choosing a post that is popular and gets high levels of traffic. This post is already acting as a very high quality landing page.

    What you are now going to do is use that landing page to feed people into your mailing list by offering the something you already know they’re interested in and you have already warmed them into wanting during your post.

    One they’ve opted into your mailing list you are now going to offer them an even better solution to the one that they thought they were getting.
    It’s one of the strongest funnels that you can have, and I guarantee that you won’t be sorry when you begin to implement it.

  • How To Make Money From Your Blog – Part 5

    How To Make Money From Your Blog – Part 5

    How to make money from your blog is such a big topic that we’re now onto part 5, the final part of the series. You can see part one, part two, part three and part four here.

     

    So far we’ve looked at how to get your blog ready and when you should start thinking about monetising it. The first way you can monetise a blog by using advertising. How to use digital products to monetise your blog and using real world physical products to generate revenue from your blog.

     

    In the final part of this series we’re going to look at providing Services to your readers to monetise your website.

     

    Monetising Your Blog With Services

    If you have a specific skill, or employ staff with specific skills, then you can offer those skills to your readers to help them achieve their goals.

     

    The easiest niche to see this happening in is the Make Money Online niche. There are lots of people selling digital products in this niche, but there are also lots offering services.

     

    Think of all the article writers, SEO “experts”, link builders, copywriters, website builders, programmers, designers etc… out there.

     

    These are all services.

     

    They may not suit your service, after all if you’re in the weight loss niche then your readers are unlikely to need a programmer. However they may want a coach, a personalised plan or custom food menus.

     

    What I’m going to share with you today is a list of some services that you may be able to offer to your readers…

     

    App Developer

    Apps is still a new and developing world and there are lots of companies wanting to develop apps for their businesses. However very few people still truly know the in and out of how to do it.

     

    Audio/Video Editor

    Audio and video is everywhere now, and companies use it every day to promote their services. You can provide services from creating through to editing their audio and video. There is enough business in just recording the intros and outros on podcasts to keep you busy! But don’t forget, it’s not just businesses that want videos edited. Personal video editing can include weddings, birthdays and many more occasions.

     

    Consultant

    If you’re experienced in a specific area then you can become a consultant. It can take time to get your foot in the door as a consultant in your speciality, but once you do your time will be very well rewarded.

     

    Designer

    Immediately the thought that comes to mind is a graphic designer of websites, logos, book covers and other similar online projects. However I’ve seen online house designers, clothing designers, furniture designers and more.

     

    Digitizer

    In the digital world a lot of old photographs and videos are gathering dust and there’s a growing market for people who want their old memories digitised for the future.

     

    Photo Editor

    If you’re a dab hand with Photoshop then there is endless work in editing photos. Anything from editing images for adverts to touching up headshots. Use sites like Freelancer to find the work.

     

    Project Manager

    As more and more companies start having remote staff, project management is becoming a more and more in-demand job. The key to having a remote staff base is to have excellent project management. If you’re used to project managing then this could be a role you can fulfill from home.

     

    Social Media Manager

    Everybody has social media accounts these days, and often more than one. It’s normal to have a Facebook and Twitter account, but then there’s a host of other social media sites as well. Managing every account takes time and skill. If you’re good with social media, know how to create captivating snippets of information that people want to share then this could be the perfect role for you.

     

    Programmer

    Anybody who has a website is very likely, at some point, to need something done to it that is slightly outside of the norm. And that means they’re going to need a programmer. If your good with code, or are used to programming something specific, then this could be your best service to offer.

     

    Speaker

    Are you an expert in a particular subject? Do you like talking about it? If so then maybe you’d like to become a speaker on your specialist subject.

     

    Transcriptionist

    With all the audio and video online today, there is endless work in transcribing it to text if you’re a fast and accurate typer.

     

    Tutor

    Do you have a degree? Can you teach? Tutoring people to help them achieve their goals is an excellent way to monetize your blog. Don’t think this has to be done in person, using Skype and other messaging tools allows you to do this from anywhere in the world with clients anywhere in the world.

     

    Website Builder

    You’ve already built your own blog right? That means you can provide services doing it for your readers 😉

     

    Writer

    Writing, writing, writing. You’re already writing for your blog and if you’re blogging on a topic then the chances there are other websites writing about it as well. And one thing that all websites need is… content. Writing for other websites can provide you with an income and spread your name as well. But that’s just one part of writing, copy-writing is also hugely in demand and can provide an excellent income.

     

    Virtual Assistant

    If you’re organised and are good at managing, then becoming a virtual assistant can be an excellent way to generate revenue.

     

    In Summary

    Providing services can be an excellent way to monetize your website and it allows you to start with only your time as an investment. This makes it a great place to begin if your funds are low.

     

    However don’t think that it always has to be you to do the work. If you can do it then others can and you can train them to work in your style and to your level of quality. As you have more clients requiring your services you can employ others to fulfill those services and manage your team instead.