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How many products should I offer?

Knowing how many products you should offer is always A challenge.

How many products - Ameena Falchetto

Yes, you may like to have lots of your choice to have something for everyone but that’s not going to work.

This product advice relates to anyone in the handmade industries, digital products and manufactured products.

1. Be clear on who your product appeals to

Getting clear on who your target market is and what niche you are positioning yourself in will help you know how many products you should have on offer.

Chances are you want to position your products to be something of value with a price tag to reflect that.

2. Think about how much you can produce (and promote)

Having time to market your products is just as important as creating them. You might be spending every minute creating beautiful things but if you don’t have time to tell the world about them you will never sell.

Divide your time between producing and marketing to ensure you delicious offerings get found, and more importantly bought.

Also give yourself the time to prepare and promote a new product. Build excitement by talking about it, or getting others to talk about it too by sending samples to key people in your target audience (don’t focus only on your peers in your industry)

3. Limit the options and consider limited editions

Just because you could create 35 fabric options for your gorgeous cushion covers, or 12 super cool designs for your insulated coffee mugs doesn’t mean you should. Similarly, having 10 online products for sale at the same time creates a daunting choice decision for anyone who might want to buy.

Instead, consider having 4 options for fabrics, or colours. If you want to test a few new ones go for it – market it is as limited edition to build excitement – if it flies then make it part of your core offering.

4. Less products will make you more money

Having less on offer will lower your production costs:

  • If you buy fabric wholesale in a larger quantity your unit cost is lowered.
  • If you are manufacturing your product your unit cost is lowered dramaticly the more identical products you buy.
  • If you make digital products you will save money by producing something of high quality that more people can buy over a longer period of time.

5. Think of yourself as a fashion house.

Every wondered why fashion houses just have 2 collections a year? Autumn/winter and spring/summer?

It’s to help them develop a great collection AND give the collection the time to be seen, found and bought.

And naturally, as the season goes on there is the anticipation for what’s coming next (a great part of your marketing done for you already!)

Getting known for a few things helps you be top of mind for your delicious offerings and help you get that crazy cash you deserve. Knowing how many products to offer isn’t that different to knowing how many services to offer.

Less choice does equal more returns as it positions you as an expert in your industry.

Need help with planning your product launches, or how many products you should offer?  Get in touch!

 

 

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11 Responses to How many products should I offer?

  1. That’s True!! :) Less is More.
    Hmmmm *wink* *wink*
    *thinking*

  2. Great post. As the owner of a goat milk soap business, I’m always trying to balance the right number of scents to offer our customers. Rotating limited edition scents throughout the year has helped tremendously. It allows us to limit our main line, while still providing our customers with the variety they crave.

  3. Hi Ameena,

    This was a great post to read. I have been thinking for a while now whether I should be thinking about multiple + multiple + multiple products and it literally did my head in.

    Instead I got super focused and went down one avenue and chose to do The Inner Vibrance Project. And while I’m in the process of writing my book I am also guest posting, topic writing, pinning, fb and tweeting all in relation to my book theme.

    So it’s total win-win!

    Thanks once again!

    Elise :)

  4. I think that you really need to think about how you deliver your message.

    It’s okay to sell lot’s of products to the list you create from your blogging.

    The mistake is to sell products to just sell products. If what you are offering really does offer value to the end user, then you should certainly recommend they check it out.

    I try and always market stuff that over delivers for the end user..

  5. Supply and demand. Offering seasonal and special edition items can and will create a buzz. Offering everything all the time, people know that at any time they can come to you, so there is never a rush.

    Thanks for sharing this info.

  6. Maha:

    Great post! Soooo helpful. Thank you xxx

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