Why People Buy… Your Product

If you don't have something to sell, you're not going to make any money in your business… right?

So yeah, you gotta have a product.

And… the cool thing is that when you do business online there are actually 3 types of products you can have: a physical, service or knowledge product.

In case you're wondering… yes, you can have more than one type.

But before we get into what product to build, let's take a look at why people actually buy…

There are a few reasons:

It's something they think they'll use or like
It solves a problem for them (this is a big one)
It will help them avoid pain or effort (don't we all love convenience?)
It will satisfy a need or want (if they don't need or want it they ain't gonna buy it)
Oh yeah, then there's greed. This is all about status and looking good… not a good reason to build a product around.
The biggest reason?… They want to feel good about themselves

And after people decide to buy, what do they do? They justify their decision… “Look what I'll get or save from buying this.” Or, “Look how it'll make things easier for me.”

People buy on emotion and justify it with logic. Boom!

So do your research and figure out what people are looking for (hint: there will be other people successfully selling it) and then build a product around that.

Now back to product types:

Physical: Yep, something physical… like t-shirts
Service: You do something for someone else or another company. (Like accounting, social media marketing, etc.)
Knowledge: You put what you know into a product, like an online course. This is a rapidly growing industry.

Looking at those, you'll probably be drawn to one or two types of product. And yes, you can get into more than one type, but at the beginning it's best to choose one and run with that.

Later on for example, you could have an online course and then offer a higher-end service product as a social media marketing strategist for other people's businesses.

Now you know why people buy products… and what kind of products you can offer… it's time to take a look at what people are really looking for (hint: Google is your friend) and how your knowledge and experience can fill that market.

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If you don't have something to sell, you're not going to make any money in your business… right?

So yeah, you gotta have a product.

And… the cool thing is that when you do business online there are actually 3 types of products you can have: a physical, service or knowledge product.

In case you're wondering… yes, you can have more than one type.

But before we get into what product to build, let's take a look at why people actually buy…

There are a few reasons:

It's something they think they'll use or like
It solves a problem for them (this is a big one)
It will help them avoid pain or effort (don't we all love convenience?)
It will satisfy a need or want (if they don't need or want it they ain't gonna buy it)
Oh yeah, then there's greed. This is all about status and looking good… not a good reason to build a product around.
The biggest reason?… They want to feel good about themselves

And after people decide to buy, what do they do? They justify their decision… “Look what I'll get or save from buying this.” Or, “Look how it'll make things easier for me.”

People buy on emotion and justify it with logic. Boom!

So do your research and figure out what people are looking for (hint: there will be other people successfully selling it) and then build a product around that.

Now back to product types:

Physical: Yep, something physical… like t-shirts
Service: You do something for someone else or another company. (Like accounting, social media marketing, etc.)
Knowledge: You put what you know into a product, like an online course. This is a rapidly growing industry.

Looking at those, you'll probably be drawn to one or two types of product. And yes, you can get into more than one type, but at the beginning it's best to choose one and run with that.

Later on for example, you could have an online course and then offer a higher-end service product as a social media marketing strategist for other people's businesses.

Important Links:

Our Other Cool Things:

😊 Pat & Lorna’s Social Accounts

Pat & Lorna

A Couple of Cool Peeps

Also known as “The Coolest Couple”, we’re passionate about helping others succeed in their online business. To do that we share COOL tips, tools, and knowledge, along with the wisdom of some very COOL people. Everything we deliver is designed to take the sting out of getting started, simplify technology or increase productivity and profitability. If it isn’t COOL, it’ll never make it here.

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