In the life of your target customer, how do your products fit together into a cohesive selling story that is believable, and clear? As you’re developing your product offerings, you should repeatedly come back to the question about how you are creating real solutions to real problems for real people.
Along the way, you should focus on building out three core product offerings first:
- Your gateway product
- Your flagship product
- Your continuity product
Your gateway product and your flagship product exist at two ends of the spectrum, with your continuity product as the long-term commitment. The goal of your gateway product is to acknowledge that a first-time customer is making a leap of faith to trust you, when they spend their first dollar—so you can make that as risk-free as possible.
The goal of your flagship product is to provide life-changing, transformational value at a premium price. This is the full immersion, all-in experience for your customers. The goal of your continuity product is to provide ongoing day-by-day, month-by-month support for step-by-step transformation, often including community and coaching components.
Should You Have More Products?
If you have a gateway, flagship, and continuity product established, you have a solid core product suite for your business. More than likely, you don’t need any other products beyond those core, but you can offer two other types:
- Complementary products
- Supplementary products
Complementary products are natural, positive add-ons to your gateway product or flagship product that improve the overall experience your customer has, for a fee. Supplementary products are optional replacements to your gateway product or flagship product, typically because they are better or cheaper alternatives (but not both). Which product will you offer next?