Sunday, September 27, 2020

Information Products – Hungry Buyers Pay Top Dollar

January 3, 2011 by  
Filed under Affiliate Marketing

There are so many ways to make money online that entire books have been devoted to the subject, with each chapter offering a different idea. Creating and selling your own information products is a very viable method of building an online business – and can be an extremely profitable one too.

What are information products? Don’t be put off by the term, its a simple concept. Its anything that you know that others do not know! You will soon realize that like most things connected to the online marketing world, the jargon often hides a simple concept. Before we start to look at the ways you can create your own products, lets look at some other definitions of information products just to be clear.

People are always in the market for information. When they do a Google search, what are they after? Information. they are always looking for an answer to a specific question.

Some of the answers to questions people are seeking can be answered very easily. However, some questions are very complicated, and require more research to attain the answer. For those people that have a “I want It Now mentality”, its far easier to buy a ready made solution.

The more Complex the question, the higher the price for the answer.

The difference between online and offline information products is that offline everyone has a view as to how much a ‘book’ or a ‘magazine’ is worth and will rarely pay more than the accepted norm. Online, however, it is the information that is valued, and not so much the delivery vehicle. So people will often pay a lot more for an answer to a pressing need online that they will offline.

There are all different styles of information products. Here are a few:

Ebooks – Usually PDF files formatted to look like a real book, but with fewer pages. A typical ebook is between 70 and 100 pages, but can be a lot less, or a lot more. Ebooks can sell for anything from a few dollars to hundreds. A price point of $67 or $97 is not unusual.

An information product that is just as popular is a Special Report. These are also PDF files that offer an answer to a specific problem, or teach a certain method on how to do something. They are typically 5-10 pages in length and offer a solution to a specific problem.

White papers – Sometimes the answer to a question can be contained in a page or two – a list of resources, for example.

Videos- Is by far the fastest growing segment information marketing. People love to watch a how to. With The use of screen sharing such as Camtasia, or the Flip Cam, it is real easy to meet the demand of the buyers of information.

For people on the go, you will want to offer Podcasts. They are popular with people who regularly use MP3 players and Smartphones as they allow folks to learn while on the go. Sometimes it is quite easy to simply read out an article or short report into a program like Audacity to make an audio info product that will sell well.

Membership sites – When information can be delivered over time, in instalments, it can be very profitable to do so from within a membership site. This gives the vendor an ongoing income from subscription fees as well as a frequent opportunity to offer members other offers.

Creating your own information products has one very big advantage. When you sell it, you determine the price and you keep all the profits. And as the cost of creating, producing and supplying digitally downloadable info products is virtually nil, the potential profits can be enormous. You can literally start a real business but with no overheads.

If you wish to expand your sales, you can recruit others to sell on your behalf. These people are referred to as Affiliates. They will promote your product to their lists, and will look for a 50% commission as pay to do it. If there are any advertising costs its up to them to pay it.

Yes you do offer a commission anywhere from 50-75%. It is not a lot if you think of it this way, it is a sale you never would of had. Half of something is better then one hundred percent of nothing. So its a good deal!

Many Information products are not created to be sold.

Sometimes it is better to offer your product as a free gift in return for somebody’s email address. Building up an email list is a vital part of online marketing and can massively increase your profitability. It is an effort to attract new traffic to your offers, but if you have already got a list of 1000 people to tell about a new information product you’ve created, you can really boost your launch results with no extra effort.

When you create Information products, its a real simple process that keeps on giving. It has to be part of your Marketing routine. Its a simple way to get new sign ups and better sales conversions.

Online marketing is, at its heart, about selling. Information is one of the most valuable commodities we can sell. While it is great to be an affiliate for other people, producing and owning your own info products is the best way to secure your personal success into the future.

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