Information products are one of the hottest selling items on the Internet. And for good reason. Where else can you get timely, relevant information that is exactly what you want…even at 2 am in the morning?
The problem with information in books at the bookstore is that many times it is not specific enough. I don’t want to know everything there is to know about audio engineering, I just want to know how to record a talk, edit it and burn it to a CD to sell on my web site. Try finding that at your local Barnes and Noble! But it is relatively easy to find an ebook about that topic on the Internet. Even better, a video!
Another problem with buying information at the book store is that any information is at least one year old. That’s how long it takes to edit a book, send it to a publisher, get it printed and finally placed on the shelves in your local book store. By contrast, an ebook or other information product will usually have the latest, cutting edge info on your topic because they are so easily updated.
Information products can include anything from ebooks, videos and special reports to complete home study courses that go “thud” when the mail man drops it on your customer’s front porch. But information products can also include teleseminars, membership sites and paid newsletter subscriptions.
Tip 1: Ask your prospective customers what they want.
I know this sounds obvious, but what you think your customers want and what they really want can be two different things. You have a lot of knowledge about your topic…that’s why you are creating an information product. But your customers do not have your level of knowledge and are probably asking different questions than you are.
So, while you are collecting their first name and email, add a custom field that asks their biggest question about your topic. After about 100 email subscribers, you will have a really good idea what it is they are looking for! And you can use that information to write your sales letter as well.
Tip 2: Think of the trade your customers are making.
When purchasing your information product, your customer is trading his dollars for your information. Therefore, make it an easy trade for him. I will trade $47 for information that makes me $4700 every day of the week! That is why “how to make money” ebooks sell so well.
I will also trade $47 for information that saves me 2 days learning how to do something. That is a no-brainer! I am less likely to trade $47 for cute stories, recipes or how to sew my own clothes. That might be a $27 ebook. Get the picture? Make the trade very easy for your customer!
Tip 3: Try to include one or more of these angles in any information product.
Will the information in your product:
- make people money?
- save people money?
- save people time?
- save people pain (physical, emotional or financial)?
If you can include one or more of these angles in an information product, you will have a real winner on your hands!
Tip 4: Break your long ebook into parts.
If you have a 150 page ebook, consider breaking it up into three 50 page ebooks. Everyone likes to get more value and it feels more satisfying to get three different ebooks rather than one fat one. It feels like you are getting more for your money.
Tip 5: Add enough bonuses to make the purchase a “no-brainer”!
After you create an information product, go out an find about 5 to 6 related products that you can offer as bonuses. If I am buying a $47 ebook and you offer me $500 in downloadable bonuses, it makes the buying decision very easy. I recommend downloadable bonuses because they are easy to deliver and don’t cost you anything. This is also a good excuse to get their email for your owner’s list – you need their email to deliver their bonuses.
Tip 6: Sell first to those who have already bought from you.
Online business owners are like cows many times. We always think the grass is greener on the other side of the fence. We are always looking for NEW customers when our best customers are the ones that have already demonstrated their loyalty by buying our product!
We need to ask them what else they want. Another great way to monetize existing customers is a membership site. So much per month for access to special info, a monthly conference call or even a private newsletter.
Can you say residual income?
So, start with a niche. Ask that niche what they want. And then start creating information products that satisfy the itch they are ALREADY telling you they have. It is a blast and you will achieve expert status in your niche in no time at all!