As described in the previous section, products and services can serve as vehicles to monetize your stellar content. Regardless of whether you are looking to build active or passive income, your audience must need your products and services, and they must be high quality. Otherwise, you will be wasting a lot of time creating them.
I have found that the best products and services solve a problem. Problem-solving products and services sell much better than those that look to improve a situation or make lives easier. The best phrase to summarize this idea is, “Your products and services must be pain killers, not vitamins.”
Figure out what products and services to develop by surveying your readers and listeners. You can do this through social media, but the most valuable responses will come from a survey that is emailed out to your mailing list. These are the people that you will be pitching the products and services once they are ready for sale, so their input is critical.
Keep your survey simple. No more than five questions. Ask multiple-choice questions like, ‘What is your biggest challenge right now?’ Come up with four answers, but then also give them the opportunity to enter in their own. You may also want to ask how much money they are willing to spend to solve their biggest problem. Give ranges so you can get an idea for pricing.
Many content marketers think just because they have a lot of readers or podcast listeners, they can simply package their content into a bundle and sell it for a lot of money. Not true.
To be clear, your content can be re-packaged into a product like a book, which in essence makes your content the product. However, if you can find out which topics garner the most interest, then you can create products that will sell to more people.
You must create painkillers for your followers at the right price point, and your research should tell you exactly how to do that.
It’s time to start developing your products and services for your audience.
Author of The Content Marketing Equation