The Multiple Product Business Web Model

Many internet marketers rely on a single product as their sole business model. Jennie Armato uses and teaches a different way to use the internet to earn an income online – and her model is a “multiple product” version, that takes into consideration your target market – a proven formula for success!

I had the pleasure to interview Jennie recently as my guest on a live tele-seminar. Here is just some of the ideas she shared with us.

The set-up of your website(s) will be slightly different depending on whether you are going to target the business market or if you are going to target the consumer market. Here is what Jennie recommends for creating multiple product business web models for business to consumer marketplace:

Business to Consumer Markets

When you are creating a website to sell products to a consumer who is buying the product for themselves, you will want to have two different pages on your website to send those people to. The first page will be a category related to the subject matter; and the subject of that page is actually related to the market you advertise to.

If you want to sell ebooks, you might have a web site with a few hundred ebooks that are all on lifestyle subjects. That means you have multiple products, and your products are complementary (they are all ebooks on the same theme, “lifestyle”) and they are synergistic in that the same consumers might be interested in more than one of the actual ebooks at the same time. This is how you can get multiple sales from individual consumers and turn each consumer into repeat customers rather than a one-time buyer.

If you wanted to target parents, you would want to have a page set up to send the parents to- perhaps a squeeze page that asks for their details and in exchange they get some sort of free item related to parenting. This allows you to build a mailing list, which is how you build a back end system for marketing additional products and services based on the consumer’s interests. Once the details are entered in your squeeze page, the consumer is then taken to a page of products that are categorized and relative to the consumer- in this case, the parenting eBook page of your multiple eBook website would be displayed and the consumer is given opportunity to select the one they want and make a purchase- and most important is they are not taken to a single product sales letter, where they would either buy or leave the site.

This page of parenting ebooks would consist of several products within the category – and links that show the consumers there are other categories of related products that might be interesting to them as well.

That’s the basics of how multiple product web business models work to effectively run businesses online and the type of knowledge you get when working with Jennie Armato.

Digital Vs Physical Product Business – Which Do You Prefer?

There are good and bad to Both Digital and Conventional based Products & Businesses so I hope through reading this you can understand which you would prefer to do Business in. Starting with Conventional Products (Physical Products); firstly the customer receives something physically for the purchase and could in this way value a physical product, a customer may see the exchange of money for material as a fair trade even if the product itself does nothing but sit in the corner of a room, a physical product could solve an active problem in your daily routine and maybe can not go by without it, we all use and purchase physical products and need them in our lives. They keep us Entertained, Informed, Managed, Alive and in Business, without physical products life would be different in a big way.

Physical Products are always getting improved on and therefore always satisfying a new need so as Manufacturers are starting to sell their new product another better version is already on their minds or somebody else’s. The competition for Manufacturers of physical products is very high and in the International Market it is very cut-throat so to say as Fastly developing countries find cheaper faster and more efficient ways in Manufacturing Physical products. Physical products unfortunately have a life span that is dependent on the quality and the type of product how often it is used. A physical product takes up room in your life very differently. These things have to be calculated before the purchase in turn to minimise the scatter of your unused items. Physical products have been notorious for putting us at risk; electronics, power tools, chemicals-toxins, vehicles, machinery but are all unfortunately necessary evils which we use to facilitate our lives in one way or another.

Physical products lose monetary value after purchase and can be hard to sell for the same amount you bought it for after opening the packaging. Physical products tend to get more affordable over time as the market is saturated with Manufacturers competing on the similar type of product for sale. Unfortunately for physical products there is always a cost to pay in manufacturing it. There is always a percentage of the amount it was sold for at cost to the manufacturer, A manufacturing of a product could consist of needing components and materials for the product to be made, machinery to prepare the material used for the product, employee’s to operate the machinery, a facility or factory with overheads including; insurance, maintenance, wages, materials, power and counsel rates, Legal start up costs such as Patenting for ex, security management systems, OH&S Liability. A product producing Business is a Slave to the economic times and social trends of people and Lifestyles and the advance of technology.

Digital Product Business; what are the trends?

A digital product business can be either very tech complicated to manage or very simple to do. Either way there is a lot of researching and testing to do. A digital based business has the benefit of being stored in a computer’s memory somewhere and does not require such expensive rates of rent for your business. Looking at it this way a business can pay as little as $25 a year rent if all you want is minimum costs and benefits but on average you can pay around $10/month for unlimited access plans. On the down side Computers sometimes go down and your business is instantly turned off, but this is also manageable by purchasing a reliable dedicated server that will keep your business on line 24/7. A digital Product needs a niche market, with your research done you should pick a target market with little competition for the information or software you are trying to sell.

The eBook businesses that are sure to advance in their venture are Businesses with outsourced jobs, it is not a good idea to do all the work yourself as your knowledge and time is limited with other things such as customer enquiries and support of team members, it is a good idea to make your business plan to include employee’s with experience in the areas of work you are not confident with, Article writing, Search engine optimization, Publishing and ebook, building the web site and getting it ready to accept orders on auto-pilot. The benefits of a digitally made product is that it will cost you only once to make, it is then stored on your computer you can then sell this product over and over millions of times and not have to pay an employee for the manufacture or dispatch of the product to your customer it is all done automatically.

The down side of digital products is that the refund requests are higher than with physical products, but like everything you can manage numbers if you dedicate research or continue to better your game. The burden of Digital based business is that you often need to be in the game to test things out first and then after managing your plan and strategies you will begin to see results. Results are not Instant they are gradual. Some can claim that they have a secret strategy that will work wonders but more often than not this is a strategy that has worked for a few and will not necessarily work for you. But I’m not saying don’t believe what you read on the web I am saying that with experiences under your belt you will eventually come across a winning formula to your success “with out action we get no where”.

Is an Digital Product Business For You?

I’m sure you’ve noticed that a lot of business people are making money through the Internet. For example, affiliate programs like Click Bank allow you to make money every time a customer from your website purchases something from one of the affiliates you advertise with. And that’s only one example.

Another way to go about making money through the Internet is by selling digital media products, not to be confused with digital products. A digital media product is information like an e-book which is transferred to a CD or DVD.

So, are you interested? You should be! There are many advantages to owning a business related to digital media products. CDs and DVDs are capable of fitting tons of information and content that would interest a consumer like self-help tapes, instructional recordings, etc. Almost anything can be transferred to CDs and DVDs with a bit of ingenuity.

If you have a great deal of knowledge in a certain field and consider yourself an expert, you’re one of the best candidates to get into this kind of business. If you type your knowledge out and arrange it into a type of e-book, all you have to do is transfer it to a CD or DVD and you can mail it out to anyone who is interested in sharing your knowledge.

That’s just one of the simplest ways to go about starting up your business and still make money. You can also take advantage of the sound quality and convenience of a CD or the visuals of a DVD.

However, this business isn’t limited to those who are experts in a certain field. All you need is their expertise. A specialist who is willing to share their knowledge could be paid a percentage of every CD or DVD that is purchased and there would still be plenty of the pie left for you. You can take your time to learn more about the business itself and what you can do to run it as best you can.

All you have to do is find a specialist and commit yourself to running the best digital media product business that you can.

Clearly, there are plenty of ways to make money through businesses on the World Wide Web. Both affiliate programs and selling digital media products are great sources of income. As long as you’re willing to put forth the effort to understand the market and the needs of your business, you don’t need to be an expert in any particular field to start a business and make money through the Internet.

The Mistake of Needlessly Increasing Your Expenses for Your Video Production Business

You will encounter many people who will have something to say about your video production business that may let you think about changing some aspects of managing it. One prospective client makes a comment about how they wish you had a particular kind of camera so you run out and arrange financing or drain your cash reserves to get one.

I know a lot of videographers who jumped on the High Definition (HD) bandwagon too early. Out of 20 potential projects, maybe one prospect would indicate that they were interested in producing their video in HD. So these videographers ran out and invested thousands of dollars (usually in the form of debt) to make the transformation from Standard Definition (SD) to HD.

Then, after they were ready to go, they quickly found out that anyone hardly knew the difference between HD and SD. When clients were presented with the costs associated with HD production, they more often than not chose to go with SD. Of course it makes sense on a lot of levels today to go ahead and upgrade your video business to HD production (if you haven’t already) but you certainly don’t have to do it all at once.

Take time to plan it correctly so it doesn’t hurt your cash reserves or so you don’t find yourself with another long-term loan that you’ll have to pay back each month for years regardless of whether you have the cash flow to support it.

An example of this in my video production business is that I’ve never had a legitimate production studio because very few of my productions actually require one. It has never made financial sense for me to pay for square footage that I don’t use.

My clients rarely ever have the need for one so I choose to rent studio space as needed instead of paying to have one at my disposal at all times. On occasion, a prospect will indicate that the reason they chose another videographer was because they had their own studio whereas I would have had to set up a temporary studio in their conference room.

When this happens, I often think, “Maybe I need to take the plunge.” But then I also think, “Yeah, but the 99 other prospects who’ve hired me this year obviously didn’t care if I had a studio so why should I weaken my financial position for the one person who had a problem with it?”

I know that having a studio makes sense for a lot of you but it has never made sense for me. I don’t see that coming yet. I am in the process of pitching several ongoing projects to clients and if I get them, it probably will make sense to invest in a studio but only because the cost will be built into the contract.

Final Thought: Before you make a decision that will cost money and send you off in another direction, take a step back and think about whether what you want to do will actually make a difference to your bottom line. More often than not, if you just continue to work your plan (assuming you have one) and take some time off when you feel like you are burning out, things will improve and you will steadily move towards your goal of success as a video production business owner.