If you’re following any number of internet marketing gurus, you have no doubt heard that packaging and selling information products is one of the best means to achieve passive income. And of course, many savvy businessmen and women still want to get rich from selling their products and services online.
Let’s start with the basics.
What is an information product?
“Information products” are the primary income generator for many internet marketers.
You know– ebooks, video series, newsletters, high pressure sales pages, home study courses…
yes, all that and more.
Now that we have a basic understanding, let’s dispel a common misconception about selling information products.
Information products are labeled as “passive” income by many. Which makes it sound super easy to generate a considerable amount of revenue from these info products.
It ain’t true.
I don’t call coming up with a ton of ideas, settling down on a few, performing research, creating content and graphics, drafting and revising the info product, launching the product, generating sales pages, consistently promoting the info product via teleseminar, webinar, email marketing and social media “passive.” Do you?
These marketers use the term “passive income” in the sense that once you create the product, it’s done. However, generating revenue from it is far from passive. Yes, you can enjoy a considerable income from selling information products. So let’s explore how to actually create them.
Five Tips to Creating Information Products
One of the basic keys to making money is to know what you’re doing and how to market yourself. One great way to make money is through, yes, information or e-products.
Here are five tips on how to achieve success:
Number 1: Go with what you know
There are certain products online that are going to sell better than others. You can probably figure out what these are just by looking at the number of available products. The problem is if you go with a popular topic, you’re going to have to compete with a lot of other products, so you’ll need something to stand out.
That’s why it’s good to at least start with something you know. An e-book about dogs is going to sell better if it’s written by someone who has been breeding dogs for ten years rather than being written by some guy who thought he could make a lot of money researching and writing about dogs.
Number 2: Big technology, little prices
There are all kinds of technologies and programs out there to help you make quality products easily and effectively. Contrary to popular belief, they don’t have to cost you an arm and a leg. They just require you to do a little research and know what you’re looking for ahead of time.
For instance, do you want to make instructional videos? You can now get quality digital video and lighting equipment online. How about instead of describing how to do something on the computer, just buy a program to record everything on your computer screen as you do it? This is also a great option for the camera shy.
You can also buy affordable software to record audio conversations through your computer. This means you can do an interview or conference call and have it practically ready to sell right away.
If you do some product searching and mix in a little creativity, there’s no telling what you can do.
Number 3: Start small
If you try to create a stellar product right away, you’ll probably fail miserably. Start on a scale you can handle. Once you start the money coming in, you can use it to upgrade your equipment while you also improve your skills.
Number 4: Marketing, Marketing… Did I mention Marketing?
Making a good product is a great way to bring in money. But if creating that product is all you do, there’s a 99% chance you will make precisely $0 (minus any production costs, of course). The key to making money is marketing your product. You can do this by paying someone to do it, or by learning to do it yourself. Paying an experienced person is going to get you a better start in the beginning, but depending on how much time you can devote, learning to do it yourself may be a good investment.
Number 5: Be creative
When people are purchasing e-products, there are generally tens, if not hundreds or options for them to choose from. In order to stand out, you have to do something different, something special. Often, you just need to be a little silly. When creating your product, take some time to think about what you can do to make it really pop.
The entire process of creating and marketing information might take a while, but it will be well worth your effort!