I wanted to explain my go to market strategy for my websites and how I roll out my websites and make them profitable.
Hey guys! Ryan here from Instructions Not Included. And today I wanted to quickly go through my go-to-market strategy for my websites and this is how I tend to roll out my websites. I only just really discovered this the other day.
Step number 1 is I enter a market with a bulk of free content. I did this with On Property; previously it was called Cash Flow Investor. You go into a market. You create a lot of free content. I did the same thing with Public Speaking Power which is now called teachspeaking.com and I did the same thing with podcastfast.com. So I went into a market and created a series of videos or articles or podcasts, series of free content in order to drive traffic to my website.
Step number 2 is then convert that content into a low-end paid product. For example, with Podcast Fast at the moment the content that I put out to start with was a free video series about how to set-up a podcast. What I am doing now is that I am repurposing that content, I am taking the text and I am converting into an eBook. And now this is not necessarily an easy task, it is easier than creating a product from scratch but especially with Podcast Fast, I almost gave up on this eBook.
I am working on it at the moment as I am recording this. But this eBook was just so much harder to create than I thought it was but it is going to be worth it. I am more than halfway through at the moment. There is just way more screenshots, so way more editing to do than I thought I needed to do. But once I get this done then I am going to have a $1, $2, $3, $5 product that I can go and sell. I can sell on my website or I can sell it on amazon.com.
So step number 2 is to convert that content into a low-end product. With onproperty.com, I did not convert the free content into low-end paid products but I did create an eBook called The Essential Guide to Buying Your First Property in Australia and I launched that and that sells for $5. Step number 2 is basically create this low-end product that does not take a lot of effort just so you can validate the market. You want to validate that people are willing to spend money in this market and that there is a market there.
You just do not want to put too much effort into your website. Well, I do not in my business. I create free content which drives traffic. I create low-end products and I try and sell that to people who come to my website or I try and sell that through other means like through Amazon. And that is how I validate my market. If there is something happening there after a while, well then I will move on to the next thing.
Step number 3 is to find out what the audience needs and to create a high-end product for that. The hardest one for me was Public Speaking Power which is now Teach Speaking. It was so hard to work out what does this market need because it is so fragmented. But I think after receiving a lot of feedback especially from teachers who were saying that I’ve been using your videos in my class, they’re great, they’re really helpful, I have decided to create a high-end product for teachers to help them teach public speaking.
High-end products can be anything from $100 to $1,000, depends on your market. For On Property, the high-end product that I created was the membership website where I teach people how to find positive cash flow property and I also go out and find positive cash flow property and share it with those members. That is $300 a year.
So step number 3 is to find out what the market wants and to create a high-end product for it which is going to start delivering you decent cash flow into the business. And for my other website Podcast Fast, the plan for my high-end product is to have a product where I teach people my method for making money through podcast which is different for a lot of people.
Step number 4 is then to ramp all of that up now that you have this low-end product, now that you have this more expensive product, now you want to ramp up that and get more sales, get more people through the door. The way I do that is by creating more and more free content. So I did this with On Property, basically I created that website back in April of 2014 called On Property Plus, which is the one for $300 per year and in order to market that, I just created more and more free content to drive more and more visitors to my site, to get them through my sales and hopefully into the product. And I am now getting consistent sales of that product every single week and things are going pretty well.
Step number 5 is to introduce a cheaper high-volume product. Once you have a decent amount of people coming through, you have good cash flow from this high-end product; step number 5 is to introduce a cheaper high-volume product. This is something that is cheaper than your expensive product. It may be the same price as the first product that we create or it may be more expensive than that but the goal of this is something that really has mass market appeal for the particular niche that you are in. For me for On Property, what I have done for this one is I have created a calculator to help people analyze properties and I sell this for $5 a month or $50 per year.
It is a very low cost item but it appeals to a lot more people than my membership site which is more expensive where I should be able to help find positive cash flow properties. This slow-end mass-market appeal means that I can get a whole bunch of customers and hopefully, eventually I will make the same amount from Property Tools which is my calculator as I will from On Property Plus which is my high-end product.
So the goal for me is to diversify my income strain and to have a whole heap of customers so that I am more protected. And also just let me know if that while I am doing this everything is designed to have a sort of passive level to it. In terms of the products that I create, I want them to be passive. I want to create a product and then I want to be able to sell it over and over. For my marketing, I want to be able to create free content which drives traffic over and over. The goal for me – because I am a one-man band, I do not have a team that I can scale this with, is to have the content scale for me. Create passive products, create passive marketing strategies so I can scale my business by myself with just a small support team that I have behind me.
Step number 6 would be to fuel it with ongoing content and to create more and more free content. So you have basically: I start a website. I put in a bit of content, a big batch in the start that might be 10 or 20 or 50 episodes or whatever it may be. I then convert some of those episodes into a paid product to validate the market. I then leave the website for some time and I am making a little bit of money through that low-end product and I am just seeing if I am getting the interest to the website, see if it is growing naturally.
And if it is I will then contact the customers – all the readers, and try to find out what is the need that people have that I can go out and fill and I will then create a high-end product for that and try and sell that and ramp that up with more content. And once that is going, I will look at creating a mass-market appeal for the particular niche that I am in that is cheaper but that I can sell to more people. And then I will continue to ramp that up with more free content as well.
So that is kind of my go-to-market strategy that I am using. It has been very successful for me with On Property. I am now looking at implementing it with teachspeaking.com and podcastfast.com kind of at the same time but mainly focusing on teachspeaking.com after I get this eBook out for Podcast Fast.
So what I want to do is see if this works for Teach Speaking. And if it does, then I can teach it through my website, Podcast Fast. Maybe even through here on Instructions Not Included, if that is something that you guys are interested in learning about.
I hope that has been interesting. That is my go-to-market strategy. What I have been working on at the moment is that eBook for Podcast Fast, it has just been really hard. It is probably going to take me another 2 weeks to get that done but I really think that is going to be a great resource for people once it is complete and that is going to be something of high value that I can sell, even if I am selling it for a low cost. I can begin to validate that market: are there people out there who are willing to spend money with me on things around the topic of podcasting.
So I am pretty excited to have that launch. I will keep you guys updated once that goes live and see what else come in.
So that finishes it for today. Remember, if you want instructions go and buy some furniture.
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