Making Your Own Fortune Creating and Marketing Information Products!
When a client asks about creating information products to generate additional income to complement their eBook and writing opportunities, they often do not know where to start. This article is designed to not only show you where to start, but also how to create and market your own information products for profit.
The key is to stick to what you know. If you have written an eBook about ‘online marketing’ then stick to this area or one that complements this topic. You can diversify later on once you become an established and recognised entrepreneur.
The best way to learn is from those who are already successful at creating information products. Type in to Google you niche topic and see what products are available for sale.
Click on the Ads on the right hand side of the Google searches as these often lead to information products that people are selling. Take notes and jot down ideas that you may have with regards to some of the products that you believe you could create with your unique information.
You will need to do some research to see if there is a market for your products. See how many people are searching for your key words each month and find the places on the internet where your ideal customer goes and see what they are all talking about.
You need to create information products that people are desperately seeking.
Below are some typical questions asked by new ‘entrepreneurs’ who are just starting out. I have also provided some brief answers to each question.
Question: I don’t know what information products I could create? Answer: You could create:
- Special reports (5 – 25 page reports)
- Online training courses
- Membership sites
- A blog
- Audio downloads
- Recordings of interviews
- A paid online newsletter
- Video tutorials
- Audio interviews with experts
Question: How do I know if there would be people who would want to buy my products?
Answer: This is where your market research comes into play. You should already know your market after conducting this research for your eBook. Visit forums, discussion groups, blogs, websites, see what is being sold on eBay, or how much traffic is generated for your topic in the search results.
Question: If I am not a recognised expert will people still buy my products?
Answer: Everyone starts as an unknown! If you can write a quality eBook or produce a respected blog then you will be able to slowly build your ‘brand’ and establish yourself as an expert in your field.
Question: What niche topics sell well?
Answer: There are too many to list them all. However, the mass markets of weight loss, making money online, starting your own home business, health an wellness to even dog training, all have niches with in the major category that do exceptionally well. Stick to what you know!
Question: How do I know if there are already products similar to mine out there on the market?
Answer: You should have this information from completing a ‘competitor analysis’ for your eBook. The best place to start is to see what results you find for a Google search.
Question: How much does it cost to produce these products?
Answer: That all depends on what type of product you plan on creating. It will only cost you your time to produce a special report, eCourse or eBook. Starting you own blog or website will require payment for domain names, hosting and graphic design.
Question: How will creating additional information products boost my eBook sales?
Answer: They help to build your ‘personal brand.’ They increase your visibility and credibility within your target market.
Your Success in Selling Your Information Products Will Depend Upon Your Ability To:
- Market and promote your products.
- Build your brand.
- Create publicity campaigns and submit press releases.
- Establish joint ventures.
- Increase your visibility in social networks.
- Write quality and unique articles.
- Build relationships and pursue joint ventures.
- Get your products directly in the hands of your target audience!
When you sell information products you need a platform to sell them from. This could be your author website, blog, online newsletter, paid advertising (Google Ads) or create a network of affiliate marketers who will sell your products for you for a commission.
If you are building your personal brand, then use your logo or image on all your products so that people can identify the product with the high quality expectations that you live up to. Stick to the same colours and stay on brand with your message. You cannot have conflicting messages with your individual products.
Price your product for your market! If you produce a special report for the financial industry then you may be able to demand a higher price than if your niche topic is for teenagers.
People will be happy to pay the asking price if they believe that they are getting value for money. Start by finding out what your competitors are charging for similar products in your niche.