An information product (info product) is just that – bundled information on a specific topic. Instead of working with a client in a coaching, consulting or similar setting, you are documenting your expertise and providing it to them in a self-study format. An info product can be a checklist, a cheat sheet, a special report, an MP3 audio, a CD, an eBook – the possibilities are endless! (For an example, check out the FR*EE training course available on my website “5 Simple Steps to More Clients, More Visibility and More Freedom!” Any format that is appealing to your target market and allows you to share quality information is a potential for an info product.
Info products are a powerful revenue stream because they help you leverage your knowledge. Typically, you provide a service and get paid for it once. If you want to earn more, you’ll have to get more clients and provide more services. And, let’s face it; there are only so many hours in the day. By creating an info product you can get paid again and again for the same information AND help more people than ever before. You also brand yourself as an expert in your field. Launching your own info product will give you greater visibility in your industry and attract more prospective clients to your practice.
Info products can also be a terrific lead generation tool for your business. Customers who purchase your product may eventually become private clients. After their purchase, you can offer them specialized opportunities to work with you personally so you can give them additional support and guidance. Once they see the benefits of your expertise in your info product, they’ll understand the value of your private services and be more likely to buy in the future.
Keep in mind that in order to sell information products you need to have a ready, waiting audience to sell them too. This means that in order to launch a product successfully you need to have a community ready to purchase what you have to offer. By regularly conducting market research and staying in tune with your customer’s wants and needs, you can be sure that you’re developing a winning product. For more on how to conduct market research for your product, read “How to Know Exactly What Your Ideal Client Needs” on my blog.
Here are five proven steps that you can follow to create your own profit-producing info product:
- Select one specific problem – Your info product should be focused on solving one specific problem for your reader. Doing market research will help you identify which “hot button” issues are important to your ideal clients. Make sure that your materials are relevant to their needs and practical to apply.
- Choose a low price point for your product – You want buying your product to be a “no brainer” for your audience. They should see the value that you’re offering and immediately want to purchase because it’s such a great deal.
- Make your information easy to implement – Your audience will only get the benefit of what you have to offer if it’s easy for them to take action on what you share. Break down your topic into a “step-by-step” format that is easy to digest. Include photos and images to break up the content and make it simple to read. You can purchase inexpensive images from Dreamstime or iStockPhoto, or from Flickr for fr*ee (under the Creative Commons license).
- Promote your product – Start with your own list and offer a preview call to share great content and launch your product. Promote the call through email marketing, via social media and through your power partners. Be sure that everyone in your network knows about the call and collect registrations so you can keep in touch with the participants going forward.
- End your preview call with a strong call to action and irresistible offer to the next step – After you deliver a content-rich presentation in your preview call, let listeners know how they can take the next step with you. Offer your landing page link for your info product and make the offer irresistible! Consider giving a discount or special bonus for short period of time to motivate listeners to buy now!
Adding info products into your revenue mix is a terrific way to diversify your income and create more visibility for your business. By taking the time to create an info product geared directly to the needs of your ideal clients, you’ll be able to make more mo.ney and serve more clients than ever before!
YOUR ACTION PLAN FOR THIS WEEK
- Do market research and pick one “hot button” issue that you can solve for your ideal clients with a targeted info product.
- Create your product – you can create an ebook, MP3 audio recording, checklist, cheat sheet or special report. Pick a format that will help your ready to easily enjoy the benefits of what you are sharing.
- Focus your product on “how to” information that your audience can take action on immediately. Step by step instructions and action plans work well.
- Pre-sell your product by holding a teleseminar or webinar event. Promote the event on your email marketing list, via social media and through your power partners. Be sure to deliver great content and leave your listeners wanting more!
- End your presentation with a strong call to action and let the listeners know where they can purchase your product.
