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How To Profit From A Failed Product?
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By Shahnaz Rauf
It is very loftily claimed among elite sales circles that a good sales man will sell ‘Snow to the Eskimo’. Most failed small biz dot com owners have either quitted even before having realized the full potential of their business or simply do not have a good enough product.
In short, if you have got an excellent selling site, a sensational sales letter and have tried all the revolutionary and not so revolutionary marketing tactics, and still you have not made any sales/ profits within four to six months, then you have a serious problem with your product.
After all the time, effort and money invested into it, you will be fazed. Just don’t drop into the throes of frustration. There is still a glimmer of hope for you. Here is the good news:
1. You can develop a more relevant product and offer the failed one as a free bonus. This will increase the perceived value of your new product and make it more attractive to the buyer.
2. You can distribute it freely in lieu of getting people signed up for your newsletter. Though most people will not be interested in paying for your product, you will be surprised at the numbers interested in a free gift.
Also your newsletter can prove to be the single most powerful tool for income generation.
3. You can reduce the price as a special offer. Reduce your price by at least 50% as a limited time offer and you will get some sales.
4. You can reduce the price and give it away with resell rights. A whole lot of web surfers are looking for products to sell and will buy the resell rights.
5. You can distribute it freely with re-brand options and use it for viral marketing to generate good traffic for your new product. Viral marketing is the trend these days. Any good e-book software can be used to include the brander option.
6. You can auction off the whole thing ‘rock, stock and barrel’, to the highest bidder. Because bidding is competitive, You just might be able to get a good price.
If you are in cyberspace for a ‘free ride’ then buzz off. There is nothing like a ‘free ride’. The corporate world of the small biz dot com is just as competitive as any offline business and even more so.
You have to put in a whole lot of time, effort and hard and smart work. You have to try various tactics and change your strategy quite often. You will ultimately find that one ideal solution which works for you. Do not quit. Keep at it and you will soon see results.
Copyright [C] 2001-2007 Shahnaz Rauf. Author ‘Zero Dollar Budget’ The Free Articles At http://www.snzeport.com.
This article may be distributed freely, in ezines, e-books, as a free down load or as part of a free bonus offer. No alterations or changes to the article are allowed, and the resource box must remain with the article just as it appears.