Hi, well, Doug and congratulate, you have now completed the session of knowing your target audience. I'm sure right now you will have a better clarity on how can you identify your target audience and how to write a better million dollar message to attract these people. In this section, we're going to talk about product offering. I'm going to share with you some simple method, how can you develop your product segment ties them and attract your target audience with the perfect type of products. In this video, I'm going to help you look into your entire product line up to ensure that you do have a full range of products to offer to your customer. And this inclusive even on some free give away items that you might be giving away to your prospect to attract them and to what's your outcome make products which will help you make tons of profits.

So therefore by the of this section, you will able to better understand how you can segment ties and develop more products to complete your entire product line ups. So we will begin by the product model. In this product model I'm going to talk about three key points to take note when you develop your product. Number one, ensure that your product do have high stickiness. So what are stickiness stickiness are something that your customer cannot live without with example, in today's smartphone is a very high stickiness product because people just can't live without the phone. And also if you are selling coffee coffee is a product which is have very high stickiness because many people out there to drink a few cup of coffee per day every day.

So ensure that your products do have a high stickiness if possible. Second, when you look into a project design you want to ask the question is how regular to your customer buy from you can your business model or the product model able to generate recurring revenue is your product selling fast enough. So, for example, if you are running a company or a business model selling like fmcg product fast move fast moving consumer goods, if you are a fusion center or daycare center or you are running any subscription based type of business, basically you are in a very ideal situation because your customer will come back and do business with you on a very regular basis which help you to generate enough recurring revenue. And lastly, I your current product able to upsell or cross sell easily How easy is for you to upsell or cross sell When a customer purchases something from you, for example, if you have a customer who come into your store and purchase a POS like, can you cross sell a battery to this person?

Do you have something similar like this? If a customer come into a restaurant and buy a cup of coffee, can you cross sell a cake, or you upsell your coffee in the bigger size. So these are something for you to ponder when you come to product design, look into your product stickiness, recurring revenue and easy for you to upsell or cross sell. All right, because every single product or services that we offer to our customer, the primary objective is to help our customer to solve their problem quickly, effectively. So make sure that your product able to help your customer solve their problem and we also want to look into your customer lifetime value. lifetime value is on average, how much to a customer will work to your business for a lifetime example, if you have successfully acquire a new customer, and this customer, you know that every year he will spend about $100 with you, and the customer will stay with you for the next five years, then you know that on average customer will have $100 times five years meaning that $500 lifetime value.

So how can you maintain a high lifetime value of your customer? And we're going to dedicate more videos in detail that will discuss how can you create a customer lifetime value and improve this in our future section videos. And how can you turn your product into very high profitability and this is what we're going to help you design your product. So in order to do so, I'm going to introduce you to Different framework. The first framework is called the product segmentation framework. I'm going to illustrate the detail on the next video.

And the second framework is what I call the product ladder, meaning that by using this ladder format, how can we create a product from lead magnet up to the goal? So I will see you on the next video.