Information Product Opportunities

1. Information Product

a) Generally, an information product is any chunk of knowledge that has been recorded in some fashion – whether that be in a print format, an audio format, or a video format – so that it can now be passed on to others.

b) As ‘digital goods’, if it delivers knowledge and you can e-mail it to the customer or offer it as a downloadable file, then it qualifies as an information product.

2. Information Product Formats

a) Print books and e-books

b) Booklets and special reports

c) Manuals and workbooks

d) Audio cassettes, CDs, or downloadable audio files

e) Videotapes and DVDs

f) Tele-classes

g) Subscription-based web sites

3. Being Infopreneurship

a) BusinessDictionary.com

I) Information entrepreneur.

ii) Business person who collects information from several sources, and combines it into novel ways to serve the readers’ needs.

iii) H. Skip Weitzen (author of the book ‘Infopreneur’) describes an infopreneur as “a person who gathers, organizes, and disseminates information as a business venture or as a value-added service.”

b) Wikipedia.com

I) a person whose primary business is gathering and selling electronic information.

ii) an entrepreneur who makes money selling information on the Internet

4. Benefits of Information Products

a) Passive income

I) Once an information product was created and the distribution was automated, sales can occur with little additional effort.

b) Cost of entry

I) The cost of creating electronic product is minimal

c) Expert status

I) Publishing a book enhances your credibility and can lead to speaking engagements and media interviews.

d) New products bring new customers

I) Each product may appeal to each customer differently

e) Marketing opportunities

I) Each new product helps you reach new markets with your advertising efforts

f) Cross-promotion opportunities

I) Giveaways are strategy to attract new customers as well as increase exposure to your target audience

g) Potential for corporate deals

I) You could resell your content to corporations or other professional organizations to give away to their customers or for use as training materials

h) Word of mouth

I) When you create products with tremendous value, inevitably your customers are going to talk about it.

5. Generating Information Product

6. Creating Information Product Content

a) Ask your audience:

” what is your biggest question (or challenge) about X?” (“X” is your specific topic)

b) Use a survey to your target audience or other people who are also interested in that topic

c) Write down your tips, techniques, strategies, or steps that solve the most popular questions or challenges

7. Keys to Success with Information Products

a) Quality: make sure you produce with highest quality

b) Expertise: demonstrate any credentials that you have in your field

c) Value: check to see how your competitors are pricing their products

d) Delivery: product delivery needs to be efficient and timely.

e) Marketing: a solid marketing plan is essential to success with info products

f) Repetition: the average consumer needs to be exposed to a product 6-8 times before making a buying decision

g) Development: all info product should be up to date. New product should be in development and complement the other products you have available

8. Strategies for Promoting Information Products

a) Build a website specializing in topics related to your products

b) Provide free information as a teaser or sample

c) Find public speaking engagements

d) Free teleconferences

e) Free newsletters and e-zines

f) Up-sell and promote additional products when someone makes a purchase

g) Establish yourself as an expert in your field by being seen and heard everywhere

h) Create an affiliate program

I) Swap advertising with websites and e-zines that reach your target market

9. Being an Expert!

10. Building an Expert Platform

a) Consulting

b) Establish a Website

c) Public Speaking

d) Teach Classes

e) Publish Articles

f) Branding

g) Blogging

h) Online Experts http://www.AllExperts.com

11. Case Study

a) http://www.SiteSell.com

Common Mistakes Made When Creating an Information Product

When people purchase information products, it is not because they couldn’t get the information somewhere else for free; in fact, they most likely can. With Google as our guide, the internet is full of billions of websites that offer information at no cost. The problem with this, however, is the number of websites that must be searched through and advertisements dodged in order to find good, solid information.

I have been helping clients,’ (lets refer to them as “experts” in their field) design and market information products for over 10 years. For the most part, they are confused and unsure of how to build a successful, marketable product. Along the way, I guide them through the process and help them avoid making mistakes however, depending on where they are in the process here are the most common mistakes I see:

1) “Experts” worry too much about incomplete content.

If you refuse to start building the product look and components before every “i” is dotted and “t” is crossed, you’ll never get your product to the marketplace. As an expert, you may be constantly tweaking and updating your system or information. Remember “Good is good enough”, Bill Glazer of GKIC will tell you.

The content is indeed the most important thing because that is what is being purchased, but there are also other parts of the project that need to be addressed. As you develop more and more product content, you can continue to add-on to your product and provide it to your clients in the form of updates or continuity. In the beginning, put together as many of your most valuable points so that you are providing the best information to the customer. As time goes on, you can add to it. Remember customer is getting value.

2) Experts don’t put enough energy into marketing because they are too wrapped up in the product.

If a potential customer doesn’t know your information product exists, how can they possibly buy it? Your product may have great information enclosed, but no one will know that if you don’t diligently market it. Your marketing plan need to include a compelling sales letter, a webpage and blog. In addition, you can try marketing techniques from article marketing to internet marketing – just make sure you’re marketing the product!

Tony Robbins, who sells information products related to personal growth development, is a great example of how to build a strong marketing campaign. His website is clean, respectable, and well made. The overall impression presented is of trustworthiness in he way he displays himself and his products.

3) Experts worry too much about the inside and try to perfect the appearance.

Buyers of information are more interested in the content contained inside the product than the appearance – they aren’t paying for pretty graphics or syntax. You could be spending this time increasing awareness about the existence of your product or adding even more useful information. Certainly, make sure the product is readable and organized nicely, but it is not necessary to struggle over the font or other visual elements.

An important note about the appearance of the product is that you must match the cover image or logo with the title name. If the image you use to represent your product and the title of the product don’t match, there will be a huge disconnect and your product will immediately lose validity (and sales).

If you take a look at Paul Meyers’ products including 24 Keys That Bring Complete Success and A Fortune to Share, you’ll notice that both attached images are simple but also reflect what is inside. 24 Keys That Bring Complete Success’s cover has a person holding a key with a label attached that says “Complete Success”. The cover is clever yet easy too look at.

4) No additional marketing and sales information is included within the information product.

If the customer gained a lot of useful knowledge, likes the style of your information product, or wants to know more, make it easy for them. Include a pamphlet or some sort of marketing/sales information for your other information products inside all of the packages. You might miss out on a quality sale if you don’t let the customer know that you have other guidance to offer them.

Say you have as many products as Bill Glazer and Dan Kennedy – if you didn’t include additional marketing information, you could be missing out on a few thousand dollars in sales just through that one buyer!

5) No free sample/free report (with real & true information!) is offered for potential buyers.

Most people don’t like to buy products blind; they like to know what they are purchasing. On your sales letter or other marketing materials, be sure you offer a free sample of your information product. For example, you could always give chapter one away free or offer a free report. If the customer likes chapter one, they will be much more willing to come back and purchase the rest of your information. Think about it – if you hadn’t given away the free sample, they probably wouldn’t have purchased it anyway so you’re not losing a sale.

No matter what kind of freebie you decide to offer interested customers, make sure it is reflective of what they will get when they purchase the product. For example, on Zig Ziglar’s website, he offers free MP3’s and other downloads of books he has written as a free preview of his work. He also writes a newsletter with free information that he then sends out to people who sign up.

I’ve mentioned many famous and highly successful information marketers. They’ve made their money this way for a reason; most likely because they’re good at what they do and have information marketing down to a science. To make your knowledge profitable, all you have to do is follow their recipes for success and you’ll certainly, with time, reach their level of notoriety as well.

Why Information Products?

Internet marketing is a form of marketing that is done with the use of the internet as a vital tool. Basically, anybody can sell anything on the internet. There are two forms of products which are PHYSICAL and DIGITAL.

Internet marketing majorly focuses on digital products or information products, as the case may be. Though physical products are often sold on the internet, one needs to contend with shipping costs and other costs to be incurred, in order to get the products to the actual customers.

This digital product can be in form of e-books, free reports, audios and videos on any aspect of life. Often, it is in down loadable format, which removes the shipping costs, warehousing facilities and other costs as far as the selling of the physical products are concerned.

Real multiple streams of income can be made through selling of digital products. An information marketer named, John Reese made $1 million dollar within 24hrs on one information product, type “John Reese” on Google search engine. Even, you can start selling from the corner of your bedroom and many popular e-Marketers started on their bed.

You can start from anywhere without any expensive machine. Many successful Infopreneurs run their online home-based business from living rooms. The question is: why should I start selling information products right now?

SIX BENEFITS OF CREATING YOUR INFORMATION PRODUCTS
1. High Market
2. Problem-Solving Medium
3. Creation of Small Home-based Business
4. Astonished Returns
5. Flexibility
6. Extra Source of Residual Income

High Market

In the digital product marketplace, people want information on how to get traffic to their various websites, how to create e-cover for their e-books, how to create blog for incomes and so on. However, these people need actual and useful information on all these. Thus, one’s role as e-Marketer is to give them exactly how to do these specific tasks and burst your bank account with money.

You can simply start digital products marketing by finding a market with sales prospect and research to know such market very well. What people demand for in that market will go a long way in helping you to critical by address their current problems, how they want it and how they can meet their needs with your sought-after information.

Problem-Solving Medium

Since the main purpose of writing an information product is to solve specific problem for people that need such solution. Thus, information product is a problem-solving phase that is, providing solutions to the specific problems of the people and on the other hand, they are making use of the unique solutions. The solutions can be created in form of reports, e-books, audios, videos and so on. A lot of them need solutions to their many specific problems and offering the solutions in exchange for financial rewards.

Creation of Small Home-based Business

Information product offers anyone invaluable opportunity to start one’s own business. One can sell newly launched product at a lower price, in order to attract prospects or first-time customers into one’s sales network. This singular act will create a situation, whereby, business relationships are built in order to sell more products at much better prices. This is called Backend.

When your customers can build up the trust in you and ability to deliver, thus they will be willing to buy more products that you offer to them.

Astonished Returns

In the process of writing an information product, there is relative low cost or no cost to produce such information products. Once, you can offer the products in down loadable format then you remove the cost and time wastage in manual shipments.

In relative to printed manual or book,your information product can be downloaded with ease once payment is made.Each information product provides recycling sales that is; you can sell the same product on a repeated basis with little alteration or no alteration of the content. Often, sales come from a single product on a daily, weekly, monthly and yearly basis. A good information product with irresistible contents always sells thousand times.

Flexibility

Everybody has one thing or the other to write about. This is because; everyone has great potential that is associated with his/her destiny. We can write from our passion, hobby, wrongdoings and expertise available to us all.

One can package a good information product in his/her field within hours, with the right thought, concentration and action. For instance, you can package an information product on how to create software, if software engineering is your field, you can write down your practical experience and highlight them into chapters and write each chapters in details. Then change it into PDF (portable document file) and start selling on your own website. You can get this pdf from these two sites below:

pdf995 and pdffactory to change your book into pdf and start selling. However, you can stay with pdffactory because of your e-book security.

Extra Source of Residual Income

Selling information products with respect to your niche areas will surely serve as a source of residual income. You can go on and add other sources of income to your business without, wasting much of your time on just one means of income.

Information Product Creation: Tips, Mistakes and Ways to Correct Them

They say that incurring mistakes will allow you to learn and correct your faults when a second chance comes around. However in creating information products, this is not true at all. You would certainly learn but a second chance may likely not come. If you are lucky enough, the likely consequence that you may face for your errors is low profits. Otherwise, your mistakes might destroy not only your image but also your credibility and your business name.

General Tips to Avoid Mistakes

Thus you should avoid committing mistakes when producing information products. To do them, here is a general list of tips that you can consider.

  1. Research and learn from experiences of different professionals online.
  2. Follow best practices and adapt strategies that are appropriate for your information.
  3. Read guides and resources that can help in creating excellent quality information products.
  4. Know avoid the common mistakes of other professionals so you do not do the same.
  5. Prepare precautionary methods that can help you resolve problems in case you commit mistakes.

Ways to Avoid Common Mistakes

1. Dropping a Business Idea Because It Is Not Unique

There are thousands of similar products that are sold in the market today. Hundreds of them have almost the same features and offers. However, most of them have their own network of clients.

Many people think that selling products that are not unique would not be profitable. This is a mistaken belief by those who do not have to heart for competition or by those who do not wish to earn their own client base.

Always remember that what the customers would be paying is not the unique idea that you have but the valuable information that you offer them. Whether your idea is unique or not, as long as it meets the needs or demands of your prospective clients, your information product will still be sold.

2. Setting Your Price Too Low

Setting the price of your product too low does not necessarily mean that it will gain more clients. Moreover, you may as well face the risk of not getting even just the initial capital that you spent to work on the project.

This is why it is relevant that you set your price right. Make sure that you can earn profits meaning – you should ensure that you will receive a sum over your capital costs. To do this, the best approach is doing marketing research before you release your product. You should define your target market and learn the purchasing power of your prospects. More so, you can also do comparative studies to determine your likely price by comparing prices set by your competitors on their information products.

3. Doing Your Marketing Alone

One of the common mistakes of marketers online is doing their marketing alone. Doing a lone marketing approach may gain earnings. However, it is a lot more profitable if it is not done alone.

There are a number of ways how you can market your information products with the help other people. One instance is the use of affiliate marketing. In such method, affiliates would be able to refer or recommend your sites in exchange for commissions, links or other services that you will give them prior agreement.

Another popular approach is through networking. Today, there are a number of networking sites that aid hundreds of professionals market their products. You can also do the same by creating accounts in networking platforms, getting a number of followers or subscribers in your niche and offering discounts, bonuses or incentives for every successful sale on your information product.