Creating Information Products For Beginners

For freelancers, creating information products is a good way to generate additional income. If it is your first time, you may think that it is difficult. But if you have some great information that you think people will pay to have, then you have the materials for a good creation. Just think of a format to put your ideas on which could be a video, an audio training program, or an eBook.

Once you have decided on the format, you then have to create the content – make an outline, design the layout, edit the contents, and the final step – market your product. You can promote it through your social networking accounts. You can also write about it and send it to your contacts by email or post it on your blog. If it sells right off, then you may have hit the jackpot. But do not be discouraged if initially, the reaction to your product is lukewarm, especially if it turns out that you are selling the wrong product.

Gambling on an Information Product

An information product can be considered as a gamble. Why? People are naturally averse to paying for practically anything they can get online. But this does not mean that there is no money to be made from an information product. The key is in producing the right product and promoting it effectively.

What is the right product for you to sell? It depends on your niche. Make sure that you know practically everything there is to know about your product. If you are a writer, for example, you can:

– Get into the copywriting business.
– Write high-converting landing pages.
– Write quality articles that are in demand.
– Come up with interesting ideas for blog posts.

If you are a designer, you can come up with something about:

– How to get into the business of designing.
– DIY logos.
– Fixing homemade website designs.
– How to use design elements in sales pages

And if you are into internet marketing, then you can create a product about:

– How to generate more income from your website, blog, or online business.
– How to use online marketing for an offline business.
– How to find more profitable clients.
– How to fix the most common blunders that businesses commit.

Depending on the things that you excel in, you actually may have a lot of options. What is important is to know what people would be willing to spend money on. But how will you know that? – Test your ideas to see how people will react to them. – Again, how?

Testing Your Information Product

First, you can get feedback from people who are close to you, such as friends and relatives, about your plan to build information products. Ask what they think of it. If they are not receptive to your idea, perhaps you should re-evaluate your options. But as these people may be biased, what you may hear are mostly encouragements and positive feedback. Though not conclusive, it is validating nevertheless. However, you should not rely solely on this initial success and proceed to spending time on creating your product.

Next step is to do more market research. You can form a focus group out of your most dependable clients and discuss your idea to them. But as these are people who regularly do business with you, they may give you the impression that they will spend on your brainchild. Whether they really like your product or they just want you to hear what you want to hear so as not to affect your business relationship, still, it will be favorable to you. But you should not stop here and go all out in creating your product as it may turn out to be premature.

The third and most important step to determine whether people will buy or not, is to actually see what they will do. You have to find out if your idea does have an existing market. You can do this by developing a webinar around your brainchild. Write about it in your blog and do some advertising where you can invite people to opt in, and then see how many will be interested. If there are enough people showing interest, schedule your webinar. When the day of reckoning comes, see how many people actually attend.

If you have other information product ideas, repeat the process. Do this for each and every idea you have and see which ones have the potential to get off the drawing boards, and which ones do not. To make your testing more realistic, try charging a few bucks (in the vicinity of $10 to $20) for the webinars. This way, you can find out which of your ideas people would be willing to pay for. In addition, you get to earn some money without actually creating a product yet, if you don’t consider your webinar an information product in itself, that is.

Selling Lots of Infoproducts? Five Models for Organizing Your Roster of Information Products

Most of the information entrepreneurs I’ve coached have either created no information products yet or just one, two or three of them. At that stage, they’re easily receptive to planning the creation of products in an organized fashion, such as a free giveaway item that leads to the purchase of a low-priced item, which encourages a medium-sized purchase, which in turn naturally leads to a higher-end involvement like a seminar, retreat or coaching program. That’s a classic marketing funnel, and it’s a profitable model for many information entrepreneurs.

When someone has created at least four paid products, however, without a mental model of how they fit together, it may be challenging for the product creator to put the products into a marketing system that they can build on and add to. So here are five models that make this process easier.

1. Linear. In this model, you set out your products in a sequence, with Product A being a prerequisite for buying Product B, which in turn is a prerequisite for Product C and so on. Your sequence might be either strict (no one can register for or purchase a product out of sequence) or loose (the sequence is suggested, but not enforced). This model works especially well where you have educational content that becomes increasingly advanced or where each product offering assumes the knowledge or topics in the preceding one or ones.

2. Hub and spokes. Here you envision one offering as a center or starting point, with many possibilities after that. In this arrangement, once prospects become customers or members, they can buy in any sequence. The hub might consist of a free report, a book that provides how-to instruction on the theme of the business, a DVD that explains the core philosophy of a certain approach or a newsletter that serves as the primary source of every other product offer.

3. Tracks. With this model, an expert conceives of his or her products in distinct groupings, according to either topic or level. For example, a financial management expert might have one track on getting out of debt, another on saving for college, another on providing for disabled children and yet another on planning for retirement. Or there might be tracks for amateurs and professionals, or for beginners, intermediates and advanced members. This differs from the linear model because within each track, products don’t necessarily have a sequence.

4. Triangle. Here different topics have an important relationship to one another, such that customers logically will want help with each of the three points of the triangle, though they can tackle them in any order. If there are more than three crucial points, then the model would consist of a square, a pentagon or a hexagon, and so on, instead of a triangle. This model particularly fits a situation where customers are looking to fulfill requirements for continuing education in their profession or to qualify for some kind of certificate or achievement.

5. Portfolio. Perhaps, however, the products actually have little or no relationship to one another. Don’t feel you have to force a relationship. In the same way that a brokerage account can hold a variety of stocks and bonds whose performance you keep watch over, you can have a portfolio of products that you present and promote separately. You’ll find it helpful to come to the realization that these products shouldn’t be aggregated into one site or one catalog!

Five Simple Information Product Creation Tips

Creating an information product is easier than you may think. Moreover, with today’s rapid advancements in technology, you may even be able to create a quality info product faster than ever.

Information products can be something as simple as an article that helps instruct people in the proper techniques of doing a task better, faster. These articles are then compiled into an eBook and sold online.

However, this very same information could be used to create an audio or video information product. There is simply no shortage of possibilities for creating high-quality information products that you can sale, which makes this business quite profitable, provided it is done correctly.

Listed below are a few information product creation tips that can use to help get you started.

#1: The first step is to perform a self evaluation. Questions to ask yourself include:

  • What are you good at?
  • What are you passionate about?
  • What do you most enjoy doing?

It could be something as simple as a hobby, such as: photography, crafts, scrapbooking and other similar activities. Or even marketing and handy tips.

#2: Once you’ve determined your niche market, develop an outline for your information product. Your outline will serve as your guide to creating your information, thus helping you to keep focused and on track.

Also, be sure to create subsections for each topic, providing relevant content for each section. This is another reason for choosing a topic you enjoy and are passionate about, because it makes the creation process easier, faster and fun.

#3: Perform complete and thorough research. Perhaps the best way of doing research is to read other people’s work in your chosen niche. Ask yourself these questions when performing research:

  • What do you like about their writing style?
  • What do you NOT like about their writing style?
  • What areas do you think they addressed best, and why?
  • Did they leave out important information?
  • How could you have made the information product better?

Performing complete and thorough research can give you a fresh and new perspective, and may even provide you with ideas for your own product. Always keep an open mind and be willing to learn new perspectives. Doing so will help you create an even better information product!

#4: The worst enemy of product creation is the dreaded and feared…Writer’s Block! Let’s face it; everyone has experienced the inability to come up with something to write about. I know I have.

When faced with writer’s block, the best thing I have found is to simply take a break and go somewhere quite where I can think about “other things” for a while. I usually end up out on my back patio overlooking the open fields of my ranch, in my favorite Adirondack chair, watching the animals and livestock. I keep a yellow legal pad with me, and if I think of an idea, and I usually do, then I write it down.

Sometimes we can get too “close to the forest” to see the trees, so to speak. When this happens, then simply take a break and occupy yourself with other activities. You may find that this helps give your mind a much-needed rest, thus stimulating the ideas you need to finish the information product.

#5: Always be sure to double-check your sources, writing style, punctuation and grammar. Poor grammar and sentence structure will not bode well with readers and customers. This will reflect badly on you. Proofreading your articles before compiling them into your information product ensures fewer grammatical errors and better quality content.

Creating information product can be easy, so long as you keep these creation tips in mind. You will also find that marketing products like these can provide you with a steady stream of income in the end.

Until next time…

Be good to yourself,

James

Is My Information Product Good Enough?

One question I hear repeatedly when people are trying to build their own information marketing business, which means to write a book, write a report, and create videos, they experience a confidence problem. They worry if their information product is good enough for someone to pay $100 or higher, or for someone to pay $50 per month or more in order to gain access to this information.

These people might be guitar instructors, language instructors, real estate instructors, self-help promoters, and there are a few easy metrics to look at to decide if your information product is good enough.

First of all let the market decide and see if they buy your product, which seems kind of backwards, but I will explain in a minute. Also, look at what your competitors are teaching and simply do a better job marketing and teaching your product than your competitors and put together an unbeatable offer that someone would, for lack of better term – be stupid not to accept.

This seems kind of backwards, but if you’re worried about your information product not selling, what you need to do is finish that information product, get it out there, get some traffic, get affiliates, get people to look at the offer and then look at your web page scientifically. Look at your sales letter so you can honestly say that after getting thousands of clicks to your website, your sales letter is converting at less than 1%, and no one is buying it or now I have to market it a little bit differently.

Many times I will put a product out in a product launch, it won’t sell and I will have to go back to that traffic, or ask my subscribers what they need help with. Many times we make a product because it will be fun and not because we are actually helping people.

For example, if you created a report with a lot of dieting tips, is that really helpful or would it be better to create a 30-day course on how to lose 30 pounds by only exercising five minutes per day. That is a real problem that someone needs help with, but you need to put out your product as is for now to figure out if people buy it or not and then you might need to change the marketing or change the contents of that report slightly.

In order to save yourself a lot of time and aggravation also look at what your competitors are teaching. If you want to sell a course on guitar instruction, how does everyone else position guitar instruction? Do most of your competitors sell into recurring membership sites, are these single payment products, written reports with pictures, videos, do they present guitar playing as something that is fun or do they try to market it as a skill that someone might need for a performance?

Look at all these factors, look at the kind of product, how they market it, what’s in the product, and the price point so you can figure out if you need to price high or low. And now all you really have to do is simply do a better job teaching and marketing than your competitor. Sure you might charge a slightly higher price, but maybe you can throw in some additional training or better training or better tools and templates to help people get the job done.

One thing I have found is that many information marketers will sell several small reports or several small pieces, but what if you were the person to sell the big giant course that solved all their problems in one place. So if you’re worried if your information product is not good enough, then let the market decide, examine what your competitors are teaching and create an unbeatable offer that everyone in that niche will want.