Helping Christian online business owners create success, a positive mindset & lifestyle
The Advantages of Creating Info Products
Whether you’re new to online marketing or it’s old hat, Information Products offer a significant business growth potential.
Regardless of your business model, niche or size, you can use information products to achieve a number of significant business boosting goals. These goals include: • Increasing traffic • Increasing your audience/reach • Boosting your opt in list • Increasing exposure – viral • Strengthening your brand • Offering value – increasing reciprocity, authority and a number of other buying triggers • And of course increasing your profits.
Information products have a very solid place in the sales funnel of any business. In fact, you can create an entire sales funnel beginning to end with them From freebie giveaways to premier online education – information is what the internet is all about and Information products are what consumers are demanding.
The Biggest Challenge
Many internet marketers are already aware of the demand for information products and of the tremendous business building value they offer. This means there’s an influx of information products available online.
And like other online trends, consumers are getting smarter. They don’t want a few pages of fluff slapped together and called a “special report.” They’re demanding solid, valuable, problem solving information. They’re demanding quality.
That makes your information product strategy a bit challenging. Not only do you have to come up with a good topic, you have to deliver it in the right format to best meet your customer’s needs.
This report is going to provide you with an abundance of brainstorming information and ideas. Grab a pen and paper to capture those ideas as you read through the next five pages. That way, you’ll be sure to keep them. As you know, money likes speed. Write down those ideas and get to work making them a reality.
Solving Your Audience’s Problems
The first step to finding a great information product idea is to look at your audience. What problems do they have and how can you solve them?
Generally, most people want the same things; to be: 1. Happier 2. Smarter 3. More attractive 4. Liked 5. Respected 6. Healthier 7. Richer
These can be broken into sub-categories based on one’s individual ideas. For example, one person may think having a better job would make them happier, another person may feel losing weight is the key to more happiness.
As you examine your niche’s problems & solutions, see if it fits into one of the categories above. You can further explore and see if your topic or topic ideas may fit into the following examples or formats discussed in the remainder of this report. You can even niche the topic right down to target specific audiences.
Okay, we’ve taken a look at the basics about solving a problem for your audience and we’ve got a few examples, the rest of this report is devoted to seven different information product types.
The first of the seven types of information products is…
1. How-To Reports and Ebooks
These are the most common type of information product. The New York Times Bestseller’s List is full of How-To books.
They’re extremely popular and profitable because they imply an immediate value.
They also fit just about any industry and niche imaginable. From organizing a home to mastering auto repair, ‘How To’ books can cover the everything. That being said, they’re not for everyone. Let’s take a look at the pros and cons of creating how to reports and ebooks as information products.
Pros: • How-To ebooks & reports are easy to fulfill. All you need is a download link. • How-To ebooks & reports are easy to profit from. In addition to charging a fee for the book or report, you can place affiliate and cross promotion links in the content and make more money on the back end. • How-To ebooks & reports don’t cost much to create. They’re generally cost effective to create. You can write them yourself or hire a ghostwriter.
While the range for ghostwriters varies drastically, the general price is $20-$50/page. That includes all your research, writing, editing and often the formatting and packaging too. • You can also use public domain, PLR and content other industry experts have created to put together an ebook or information product. • Ebooks and reports are widely accepted as valuable resources. Customers buy them by the dozens. Ebooks have currently taken over print as the most common book format. This popularity is largely due to ebook readers like the Kindle and the availability of information.
Cons: • It takes time to create an ebook or report. Many ghostwriters require three months or more to finish an ebook, though reports take less time. Also, if you’re working hard to build your business you may not feel you have the time to create an ebook.
The truth is, with commitment and a good idea you could write an ebook in two weeks. • Competition. It may seem as if everyone and their brother are offering an ebook. They might be and that competition may be a turn off. This is particularly true if your competition has inundated the market with ebooks.
That being said, an original idea and a valuable solution will always be in demand. • Money. If you don’t have time to write a book then a ghostwriter may be your next best option however even at the lower end of the scale $20/page may not be in your budget. There are creative solutions to this dilemma and we’ll explore a few when we discuss some of the other information product formats.
2. Workbooks and Action Guides
Workbooks differ from ebooks and reports in that they require action on the part of the reader and customer. Workbooks offer an additional degree of value. They can be packaged with a report or ebook or as a completely separate product.
Unlike ebooks and reports which can fit just about any niche or topic, workbooks do not. Workbooks are designed to be specific problem solvers. For example, you probably don’t want to read a workbook on how to knit. That would better fit a how to book type format. However, a workbook on how to find your life’s purpose or how to start a business does make sense.
If personal action steps are required, then a workbook may be the perfect information product. But once again, take a look at your niche topic and the problem you’re solving. Does a workbook format provide added value?
Pros: • Workbooks are often easier to create than an ebook or a report because they require surveys, action steps, quizzes, exercises and thought on the part of your audience. Content is required, however it’s often less involved than writing a full ebook or report. • Workbooks offer unique value. • Workbooks are cost effective to create. In fact, you can often pull together existing content to create a workbook. Add an introduction and formatting and you’re good to go. • Workbooks offer added value to an existing ebook or report as a bonus or add on item. • They’re easy to fulfill and distribute. One download page or link is all you need.
Cons: • Workbooks don’t fit every niche or industry
3. Webinars & Zoom
Webinars have been around for quite a while now, but the new kid on the block is Zoom. These offer a whole different experience for both you as a business owner and also for your prospects and customers.
Pros: • Webinars offer a unique opportunity to actually interact with your prospects and customers. This helps strengthen your brand, credibility, likeability and authority. • They can be recorded and transcribed to create additional information products. • They are also incredibly cost effective. You create the presentation and pay for the webinar hosting – that’s it. • They can be a one-time event, adding scarcity to your marketing plan and introducing your product, course or coaching.
Cons: • Webinars don’t fit every niche or solve every problem. • They can be tricky to get people to sign up for. Marketing can be tough. • If you don’t like to talk in public, then webinars may not be right for you.
4. Audio and Video
Audio and video products are great because they appeal to a different learning style. They’re also easy to share which gives them a viral quality unparalleled by any other type of information product.
Pros: • Easy to create. You can sit down to record a how to or have someone else record it for a quick and easy information product. • Easy to download. One download page or link and you’re done • Easy to share – viral! • Great for a how to type format. Makes them almost as diverse a format as an ebook or report. • Can be inexpensive to create • Builds likeability, branding and authority because your prospects get to hear and/or see you.
Cons: • Limited potential for interaction. • Can be costly to create depending on your scope. • A little trickier to create a compelling audio or video than a compelling book. Some people struggle when they’re in front of a camera and it may be more difficult to be yourself. However if the thought of appearing in camera fills you with dread, use PowerPoint slides instead and talk through your presentation with each slide.
With the advent of Podcasting and Zoom, interviews are an exceptional information format. With the right contacts they can be easy to create and cost next to nothing. They fit a lot of different niche types and can be formatted to fit just about any topic. For example, a website about fiction writing can interview an agent or a successful writer. A website about parenting or photography can interview an expert in the field. And don’t forget these interviews can be done wherever you are in the world.
Pros: • Easy & inexpensive to create. Simply need an expert to interview and recording equipment. Audacity is free. • Offers tremendous value to your audience. • Can be turned into additional information products. You can sell or giveaway the recording and the transcript. Additionally, you can use the transcript to create articles, blog posts, Tweets and Facebook posts. You can even use it to create reports or workbooks. • Use a collection of interviews to create an ebook or report either yourself or outsource it.
Cons: • Generally doesn’t sell for a high price in your product funnel unless you bundle them with other items as an upsell. Best used as a giveaway or bonus products. • May be tough to get an “expert” to agree to be interviewed.
6. Online Lessons and Courses
Online education is another growing trend. People are busy, and despite technological advances, we’re just getting busier. That means turning to the internet to learn. Now you don’t have to have a degree to offer value. You can teach a lot online. We’ve already looked at webinars and workshops.
You can deliver lessons and an online course via autoresponder, forum or a combination of both. This can be a freebie product or a high end product. Some experts charge thousands of dollars for access to their limited availability courses. You can use online lessons and courses to increase credibility and authority, to provide value and to boost profits.
Pros: • Offers tremendous value to prospect, positioning you well in your industry • Opens your business up to loyal customers and lifelong relationships • Boosts credibility and authority • Can be a high level, pricey, product in your sales funnel.
Cons: • Takes a commitment to creating top notch products and the commitment to creating valuable content. Takes the same degree of time and energy as writing a book • Can be expensive to create. • Can be time consuming to create and may require an ongoing commitment from you. To review homework or be available to answer questions. • Delivery. It’s not a one-time download. An online course requires a delivery system or an open communication system.
7. Blueprints, Mindmaps, Templates & Other Downloads
There are countless smaller information products you can offer to provide value to your audience. The pros for these types of downloads are that they’re easy and accessible for your audience, they provide immediate value and they’re easy for you to create. They boost traffic and exposure. However, because templates, checklists and mindmaps don’t offer a ton of cash per purchase, they’re often single page products; however they don’t cost much, if anything to create, so it’s 100% profit.
When it comes to creating information products the sky is the limit. Focus on solving your prospect’s problems first. How can you offer value? Then focus on the best format to meet their needs.
Well that is a brief outline of what can be done with info products. If you have any questions, please feel free to put them below or on my Facebook page
To your success!