A product roadmap helps you figure out
where your business is going.Amy asked, in a recent comment, “Do you have a plan on how not to overwhelm yourself promoting 10 products after they are all launched? Thinking of your 10 separate products reminds me of the traditional business advice of only focusing on one start-up at a time. Do you think it’s better to launch 10 products that perform ‘ok’ as opposed to 1 product that performs great?”
Great question, Amy! I’ve shared my goal about creating 10 products in 2010, but I haven’t talked much about how they all fit together…
The Problem: Infinite Opportunities
It is possible to do a nearly infinite number of things to make money online. There isn’t just one “proven path” to riches…witness the huge number of crazy inventions that make their inventors millions. (Ever had that feeling… “I could have done that! I should have done that!” Right? Me too!)
I want to do so many things. I’d love to write a book to help out people who are discovering that they have gluten intolerance or Celiac disease. I know that would be profitable. I constantly have ideas for WordPress plugins, video products, a product on great businesses to start online…
Pretty quickly, I had to learn to focus. I had to think strategically…not only about which products would make me the most money, but how those products would integrate with each other. This is the real key.
Step 1: Test With a Free Product
I started testing the market for blogging success materials by releasing my free Blog Success Manifesto. I went over the top with it as a free product. It’s 62 pages, jam-packed with practical advice on growing your blog faster than you ever have before. I could have easily charged $17-$27 for it, but I wanted the readership growth instead. (And I got it…nearly 4,000 people have downloaded their free copies!)
More importantly, the success of my free download proved there was a market that was interested in growing their blogs. I then launched my Guest Post Secrets product to serve that same market. I edited my Blog Success Manifesto to refer to Guest Post Secrets, and put a big mention about it here on my blog. Now I had two products working together, like this:
Step 2: Go Upmarket
My next step was to present a higher-ticket offer. I created my one-day workshop and offered a free webinar to my list (most of whom joined up originally because my Blog Success Manifesto.) I sold 4 out of the 5 slots right away, and the 5th one closed later. (That means my first San Diego workshop is now sold out! Hooray!)
These products worked in tandem like this:
Step 3: Fill in the Blanks
Now I wanted to create more products. Once you have a couple of paid products out the door, you can start filling in the blanks.
Part of Best Blogs will be a mailing list bloggers can sign up to, so I added that into my roadmap. Then I launched Blog Set Up as another low-price opt-in similar to Blog Success Manifesto:
My next product will be an intermediate product offering an hour with me for $497:
And then, I plan to release a product guiding people step-by-step through setting up their blog and driving traffic to it:
It’s pretty cool to see how these products fit together, isn’t it?
The key here is that once you have a buyer, you need to offer more products to that person. It’s much easier to sell something to someone who has already bought something else from you. If you don’t have the products to fill in the blanks, you should go out there and find great affiliate products that you are happy to promote, and make money that way.
Step 4: Automate
The final step in your roadmap–after you’ve launched some products–is to automate much of the cross-selling. You can do this with an email autoresponder series — something I plan to talk about in a later post. (I use Aweber as my email service, and recommend them.)
Four days after you download my Blog Success Manifesto, my email autoresponder follows up with you to make sure you got the download–and also introduces you to Guest Post Secrets. The Guest Post Secrets homepage allows you to opt in to see some high-value free videos, and over a 4-day period, gives you a special deal on buying Guest Post Secrets.
As I launch larger products, I will integrate these into my autoresponders, too. My goal is to have a defined roadmap of products to create in a “funnel” that automatically rolls people over from buying a low-ticket product like Blog Set Up or a free product like Blog Success Manifesto into buying higher-ticket items. Many of these products will be hands-off on my part, allowing for an automated income stream of thousands of dollars a month.
It is incredibly difficult to make a million dollars online selling one-off products…especially if they are inexpensive ebooks. Here’s a typical example: A person decides to make money online. They sell a dog training ebook, then the next month peddle psoriasis cures, then leap to the “make money online” niche. They now have three different lists, each with only a handful of people. And imagine trying to write content about dog training, psoriasis, AND making money online all in a few days! Forget it.
Multiple products are a good thing. But without a product roadmap, and a plan of action for seeing how they all fit together, multiple products are less than worthless. I vastly prefer becoming an expert in a few small fields and selling products in those fields only. I may pass on the next overhyped “million-dollar idea!”, but I can feel confident that every customer I gain will pay off far more than the people who simply hard-sell one or two items.
Repurposing Your Products
By the way, here’s a roadmap I’ve been developing for my next set of products:
You may see now how some of my existing products can be re-purposed for a different audience. Can your products do that? If not, you may want to consider changing your product roadmap.
Questions, or comments? What’s your product roadmap? Let me know in the comments!
Recommended Reading:
- How To Make A Mind Map. Do you ever feel completely overwhelmed by some of the projects you are working on…like you’ve set an impossible goal? Here’s a video on how to make a mind map and get all that junk out of your head…quickly and easily!
- Creating A New Product. A four-step guide to creating your first product.
- Products I Love. If you haven’t seen this yet, check it out…it’s the full list of all the products I use on a regular basis and recommend!
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3. June 2010 at 9:45 pm
Perfect timing, I’m adding this as a link to a report for a client. I can’t help her overmuch getting a product out… but I know someone who can.
3. June 2010 at 10:05 pm
This is great information Erica. I like the roadmap idea, I mean actually drawing it out like you did. I have a lot of stuff going on in my head but I can see it so much more clearly when you draw it out like that.
Thanks for sharing so much good information.
3. June 2010 at 10:33 pm
Great post. The “tie-it-together amplifies sales” and the “create a plethora of mutually-supportive products” themes are priceless. Yes, we’ve all thought of this, even in a similar context. However, there’s a giant difference when you’ve set it down on paper. That let’s me solidify and enhance the thought process and not just intermittently remember a fleeting, un-developed idea.
Thank ya, lady.
3. June 2010 at 10:41 pm
This is great timing for me too, as I am developing my own program roadmap. I like your simple method of diagramming it.
Thanks
4. June 2010 at 1:36 am
Hi Erica,
Thank you for this post showing us your brain-storming product strategies and linking future development to already successful products.
It is easier to up-sell or cross-sell to people who already have purchased your products IF they find value in the first product and solved the problem they faced.
Creating high value products and marketing them so as to drown out the chatter from competing products is the crucial element of your strategy. Giving the prospect a free product is a great way to open the door.
4. June 2010 at 2:25 am
Love it!
Sometimes you make me realize that less is more and integrating blog + products + funnel + automation is not rocket science (once someone like you shares it crystal clear like you do).
Thank you!
4. June 2010 at 4:18 am
I don’t have a product roadmap placed out, but it’d look something like this.
Free version of my software > Premium verison of my software > Related Affiliate Programmes.
Of course, Free & Affiliate go well together as well
4. June 2010 at 4:46 am
I love the mapping, it’s fast and easy to revise and improve upon, and clearly focus and consistency have their advantages. You should consider doing a follow-up on repurposing your products for a different audience; I felt you kind of left that hanging on the end (maybe intentionally).
4. June 2010 at 5:10 am
Erica, thanks for the great article but there is one critical thing missing…traffic!
All the products in the world and linking them together are useless if you don’t have the traffic to your site in the first place. You do a great job of designing your products to compliment each other and upsell with each product. But it all starts with having traffic to your site to which you can THEN sell that first product. Correct??
4. June 2010 at 6:23 am
Hey Erica,
Positioning is worth mentioning.
It’s a small thing but… I no longer call them ebooks.
I refer to the products I sell as books, tools, kits and other such terms.
How you ‘position’ your products in the prospect’s mind determines how
much you can charge.
Al Ries does this very well.
4. June 2010 at 7:42 am
that is one wonderful map of multiple streams of income! Sometimes one door leads to another. You might start small with something, but because of questions asked by readers it will lead to more {if you listen} I have just recently been enlightened by this mapping and am expanding a few products…. once your mind starts thinking this direction it just keeps going!!
4. June 2010 at 7:52 am
Great Information. I really like the idea of mapping, it will keep me focus on how to market my Ebook guide ” Everything you need to know about the security clearance process, but are afraid to ask.
4. June 2010 at 9:59 am
Erica,
This is awesome stuff. Great job on rocking the world. This is exactly what I’m talking about and love to see. You are taking the bull by the horns and dragging it through the streets.
I like how you are also adding one piece to the puzzle at a time so you have a full funnel built.
good stuff,
Brandon
4. June 2010 at 10:44 am
I like seeing how you used free products to “test the waters” for actual paid products…
I came up with an idea for my very first free product, what I’ll be turning into a somewhat short PDF as an incentive for newsletter signup. Perhaps, if it does even better than I’m thinking (I figured it’s a fairly catchy title that people will signup for just to see it, with some actual practical tips so it’s not all fluff) I could see where I could run with it elsewhere…
And, come to think of it, it’s kinda in the direction I wanted to go anyways. Imagine that!!
This also helps me see how price funnels are created… Kinda drives the point home for sure, thanks!
4. June 2010 at 10:47 am
Love the mapping Erica!
I am such a visual person and find that the more I lay things out (usually still do the old school of paper & pen)- the more smoothly the whole process goes.
It’s very easy to get distracted with multiple ideas…staying focused can be challenging.
I’ve set up a couple of accountability partners to keep me on track as well as deadlines.
Thanks,
Kim
4. June 2010 at 10:57 am
Many thanks Erica for the shout-out and addressing my question! In the upcoming post about automating, can you discuss how you are automating the promotion of your free products, the products at the beginning of the funnel?
Thanks,
Amy
4. June 2010 at 3:09 pm
Erica,
Your transparency is refreshing. You let your readers (fans!) know precisely what, why and how you’re up to what you’re up to. And what you’re up to is informative, interesting and amazing. Thanks for sharing all you share.
Chuck
4. June 2010 at 4:44 pm
Dear Erica,
Thanks a lot for the advice. I agree with Chuck. You are really transparent.
The only thing i have to do? Start the engines!
4. June 2010 at 7:40 pm
Hi Erica, this is perfect advice and good timing too. We are currently repositioning and bringing all our related products together so will sketch out a roadmap today.
Thanks for the action step.
Looking forward to the next post ; )
Michael
4. June 2010 at 8:14 pm
Thank you for sharing this – you are very generous! I too am a visual person and your presentation of this concept hits home more than the other sources I’ve read.
I would be that person who does 4 completely different products and wonders why I’m not getting anywhere; so now I see how I need to sharpen and focus on a set of products that work together. Great stuff!!
4. June 2010 at 10:52 pm
Hi Erica
Thanks for these great ideas. It is so easy to get swamped with new and exciting creative ideas. I recently took stock of what I do, and I am about to launch a mini website teaching people on my subject, of my existing business, which I have been involved doing for 6 years. This has meant that I can see many options for presenting selling ideas of my information. I like your simplicity.
Cheers
Diane
5. June 2010 at 4:17 am
Hi Erica, this blog is one of my favorite websites. Every post is pertinent, real, honest and useful. Keep up the good work and best of luck on all the products! I’m probably going to be a customer myself
5. June 2010 at 8:21 pm
I love serendipity! I was discussing “brain boil” with Karol the other day, and he links to this in his business building edition. Of course, I’m building 2 businesses at the moment.
Thank you, Erica, for putting into words/action a workable plan for the masses.
6. June 2010 at 11:44 am
Hi Erica, like Kim I am a visual person so the mapping really makes things clear. I am working on developing a range of different products at different price points, but you are right that it’s much better for them to link together.
I think your most important statement is this: “It’s much easier to sell something to someone who has already bought something else from you.” That’s absolute true. Acquiring new customers is much harder than figuring how else you can meet the needs of your existing ones.
6. June 2010 at 2:12 pm
Hi Jennifer
I couldn’t agree more about and this and it is so true whether you are internet marketing or in a bricks and mortar business like I am. The majority of my customers are people who are back for a further gift box, and even better still, they tell their friends and family about our services. Referral business is so powerful, once you get it happening.
6. June 2010 at 12:10 pm
Lots of great info as usual Erica. It seems that many would be internet marketers don’t really get anywhere because they don’t spend enough time focusing on one project before they are on to the next. It pays to get the traffic and sign ups to one product before moving onto the next related product, preferably an upsell.
6. June 2010 at 2:18 pm
Sandy
As a creative person, my brain and ideas are constantly flowing, and it does take discipline to work on one project at a time without getting distracted. Having a clear roadmap and even using Erica’s mindmap,
MindMeister suggestion is going to be fantastic for me, as I won’t need to have papers and envelopes spread everywhere. Thank you to you both.
8. June 2010 at 10:58 am
Erica,
I’ve been a subscriber for close to a year now. Through that time, your posts have become increasingly valuable to me, especially in the last two months.
Thanks.
8. June 2010 at 11:12 am
Perfect!! Would you be interested in doing a road map that would be geared more towards the service oriented industry? It’s a little bit harder to automate a service unless it’s a product that provides a service, such as a cd or book. Right now I’m trying to get my service to the masses, but I don’t have a product. I guess it’s first things first huh?! Ha ha I just answered my own question. Thanks for helping me find the answer within myself!
9. June 2010 at 6:52 am
Thanks for sharing your thinking process. I especially like the idea of re-purposing your material. So often, you’ll see marketers going after a specific market segment and then moving on when their prospects dry up. With a little clever thinking, like you have done, you can re-purpose your products for another related market segment.
9. June 2010 at 6:56 am
Excellent and very timely tips, Erica.
I have to admit to feeling just a little frazzled this week.
9. June 2010 at 7:58 pm
Hi Erica,
I love reading your posts because you are so authentic and this makes all of us implicitly trust you. Plus, you are so clever and above all SO PRACTICAL.
Thanks.
Kara
10. June 2010 at 8:27 am
Great tips.. wish I had this a few months back when I developed my ebook
10. June 2010 at 6:17 pm
Nice article! I believe your map is a great way to approach a new startup. I plan to use it when I release my new products in the fall.
10. June 2010 at 6:40 pm
Love the thought-processes created here (something to think about and apply to a few things I”m working on myself).