6 Reasons Why Your Business Needs a Signature Product
If a potential client or student stopped you on the street and said, "I'm trying to decide which of your online programs or classes to try first. Where should I start?" would you have a ready answer?
In your suite of current offerings, is there one that perfectly reflects your philosophy, expertise, and unique charisma as a teacher, trainer, or coach?
If this question threw you for a loop, don't panic. Many of us don't realize how crucial a signature product truly is … until our revenue goals aren't being met, and we realize we never bothered to create it. This is why we're swooping in today with some gentle nudging, hoping to convince you that a comprehensive paid product can accelerate your success in online business. But first ...
What qualifies as a signature product?
A signature product refers to a key offering that embodies the identity and mission of your business. It's an offering that stands out from your business's other products or services, delivering substantial value and engaging the customer meaningfully. This product generally showcases your brand's best attributes and is intended to represent you and your offerings effectively to its target audience. For this article, we're specifically focusing on digital products.
For digital signature products should:
Have multiple components (e.g., videos/audio and PDF).
Actively engage the customer and showcase the breadth of your talents (through content and community – this could be a group live stream or community groups and chats).
Address a specific need that your quintessential client has (there has to be a visible transformation for your client).
Most signature products are fairly general; for example, a health coach might offer a video class, community access, and a downloadable worksheet package that helps new clients develop and cement healthy eating habits. That said, if you offer a huge variety of services and have a popular specialty, don't be afraid to make that topic your signature.
How can a signature product support your online business?
Why is this offering so essential, anyway? If your entire suite of products is selling well and reaching its intended audience segments, what's the point of creating a mega-product that covers more ground? Here are six solid reasons:
#1 First impressions with potential clients
Specialized products are great for customers already familiar with your work. They know your personality, your tone, your teaching style. The groundwork for building trust has already been laid, so you can dive right into the subject matter.
For brand-new clients, you need to introduce yourself a little more slowly. They'll be more likely to become a repeat customer if their first exposure to your paid offerings sets the stage. It will get them used to your methods, tools, and approaches, give them an overview of your knowledge base, and prove to them that your products are a great value for their money.
Your signature product is your calling card, and it can make or break your chances with a new client.
#2 Brand identity
As your calling card, your signature product is the product that people will begin to associate most strongly with you and your business. Making it truly useful, unique, and representative of your overall brand is like sending out a little ambassador for your wellness practice. It also proves that you are invested in the market and want your contributions to improve it.
#3 Deeper, more lasting impact
Someone who reads your blog religiously and pores over your social media posts but never invests in a paid product won't benefit from your expertise. A robust, paid product that amplifies your core message allows you to support them more deeply. You'll change more lives and more minds with a carefully crafted signature product than you ever could with tweets or 'grams.
#4 Increased knowledge and understanding of client needs
Assembling your signature product is a learning opportunity! Ask your current clients what they value most about your teaching and which classes or offerings they've found transformative. Dig deep as you research, write, and produce. The product itself will grow your business, but its creation can help you grow as a teacher and service provider.
#5 Global reach and a level playing field
A virtual studio allows you to sell your offerings to seekers worldwide, changing lives in countries and communities you may never visit. You can promote your signature product to everyone through your website, social media, and email list.
This type of mass marketing was once available only to companies with vast resources, but thanks to the democratization of the web, it's now part of your toolbox. Use it!
#6 Market position and visibility as an expert
In the online world, perception is reality. Creating and offering a signature product that positions you as a subject matter expert broadcasts confidence and competence. And when others begin to see you as a trusted expert, that shift will bring in new business.
Be aware that this perception will correlate with the depth and utility of your offering. Let's say someone searches Google or Pinterest for a health coach online and lands on a site with a $19, 50-page ebook. Not bad.
Then they hit your site and find a course that's $97 but offers three hour-long videos, a set of custom meal plans, access to a closed Community group, and a 50-page ebook. Which person seems more invested in the subject? Which one appears more trustworthy and accomplished? A comprehensive signature product showcases both your commitment and your competence.
Final Thoughts
You're not alone if you've never even considered creating a signature product! Your business may have developed organically using other tactics, and you may already have built a suite of diverse programs and courses. But hopefully, this list of business-bolstering reasons has convinced you that adding a signature offering could expand your reach and your income — perhaps even exponentially.
