Is your main product a physical item, a digital product, or a service?
A physical item is an actual physical product, like a shoe or a necklace. A digital product is an informational product that you create one time and then can sell limitless numbers of without any additional work, like an ebook or an online course. A service is a product that involves your personal time and involvement, like coaching or copywriting. Each of these lends itself to a different type of partnership.
What's your net profit on the product you want to promote?
Net profit means how much you make after any expenses for producing your product. So, if your product is a shirt, subtract the cost of materials and sewing from your retail price. If your product is an online course, you don't need to subtract the cost of your website hosting unless you would need to pay more for hosting if you had more students in your course.
Let's talk about your customer journey. How do your customers or clients discover you right now, and what makes them want to buy?
The important thing to know here is what your customers need from you before they're ready to buy. Do they need a lot of information or education before they're ready to purchase? Or do they just need to see a picture of your product at the right moment? This impacts what type of partnership will be most effective for you.
Which of these promotional activities do you most enjoy?
Partnerships will only work if you do them regularly, consistently, and at scale – and you won't do that if you don't enjoy them!
What's your main goal right now for partner promotions?
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