Finding additional business for any products or services well after their initial launch is a very efficient way to generate more profits! In fact one of the best internet marketing strategies in terms of resourcefulness is to find new uses for older products! In doing so any marketer can avoid the needless, risky and costly investment of the new product development process!
From a marketing standpoint here are 3 ways to dust off any old offerings you have and reintroduce them to the marketplace to generate more profits!
Change Pricing
Price is everything to the people who see your offer. To some it means the higher it is the higher the quality! In other cases to others it may mean the difference between whether they can afford it, or even if they will allow themselves to indulge or not! Although many marketers feel the higher the price the more profits they stand to enjoy this is only 'partially' true! By lowering what you charge for any offer you typically can expect to gain a greater volume of sales which can easily add up to more profits as well!
Change Positioning
This involves cross 'pollinating' to other markets that may not have been the 'primary' focus of the initial promotional purge. Most products are usually promoted to a targeted audience by focusing on the benefits the population of that particular segment will experience. Learning how to 'entice' people in this way is one of the best internet marketing skills to learn since it is used so often in composing sales copy! Another way to get more 'life' out of a current offer is to simply target a whole new audience that will also benefit from the same exact benefits. What's good for the goose is not always good for the gander but in some cases it is! It's all in how you 'position' your offer to the public in terms of how it applies to their needs!
Change Perspective
This is a new angle or approach that can be taken to appeal to an entirely different segment that may have been formerly overlooked! Quite simply by emphasizing a different benefit can launch you and your offer into a whole new direction! In this way you're creating a new niche for an old product that equates to more profits! Here again this allows you to avoid the time consuming and sometimes costly new product development process!
Finding additional business for products that may have 'run their course' is one of the best internet marketing strategies in terms of cost savings! Whenever you can avoid the expensive new product development process while milking more profits from existing ones you are being both creative and thrifty! The 3 suggestions discussed above are ways you can add new luster to older offers for more profits saving you the needless investment in research and development!
TJ Philpott is an author and Internet entrepreneur based out of North Carolina.
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