Whether you currently sell services or tangible items right now, chances are good that you could be missing out on a lucrative income stream from an Information Product that compliments your current offerings.
What are Information Products
Quite simply, an Information Product is any chunk of knowledge that has been recorded in a form that can be easily shared and teaches, instructs or communicates this knowledge to others.
Basically you are taking the knowledge in your head and creating something for others to use that passes on your knowledge without you needing to be around. Some people even think of an Information Product as being a legacy of knowledge that they are leaving for future generations.
From a financial perspective, creating your own Information Product can bring huge benefits to you, your business, your website, your profits and of course, your reputation for providing real value to your clients.
There's Already One That's Been Done!
It has been said that no two people can look at exactly the same event and recount it in exactly the same way. Whilst one person may be able to share in amazing detail (right down to the tie one particular person was wearing), another person might be able to recall the specific conversations and not what people were wearing.
With all these different ways of experiencing the world it makes sense that two or more Information Products on the same topic would be vastly different (unless you copied someone else's word for word).
This unique ability of human's (being able to experience the world in our own unique way) has created a huge opportunity for anyone wanting to turn anything they've ever learnt into an income generating machine. You can start generating an income stream without having to work 9-to-5. Information Products let just about anyone create wealth just by sharing something they know.
Information Products have been around for a while but it's only recently that they've started becoming more popular. When you think of Information Products, you would probably think home study kits, video and audio training or eBooks. The fact that Information Products can be delivered via The Internet to an online, interconnected marketplace of more than 1 billion people is the reason this market is so appealing.
Just About Anyone Can Do It
Basically, if you can record something, convert it to mp3 format, and put it up for sale on the Web, there is a high probability that there will be at least one person who'll buy it. Instant sale!!
When it comes to income generation though, its only a one-time sale so unless its really-really popular, you're limited in the number of sales you can make. This is where the secret of creating Information Products that Generate Income comes in.
When it comes to creating Information Products, the leaders in this space are building 'continuity' into their products. That is, they are creating products that have an on-going payment structure, a bit like a gym membership - you pay a regular monthly amount automatically from your account until you advise the gym that you want to stop the payments.
Savvy Infopreneurs (Information Marketing Entrepreneurs) are not just seeking the first sale, they're after ongoing sales that give them regular cashflow time and time again.
So, when it comes to creating Information Products that generate income (or any Information Product strategy) we suggest you start factoring in the following:
- Maintain regular contact with your customer, especially after your first sale.
Make regular contact a core component of your product so that you're reminding your customers often that you can help and have things that they may be interested in.
- Ensure that every communication you have with your clients continues to build and strengthen the relationship beyond that first sale.
The stronger your relationships with clients that greater the trust and willingness to buy from you again; even at a much higher price point.
Since selling to existing clients is easier than selling to new clients, you'll want to make sure you can get in touch with your existing clients when you next have an idea. Loyal and receptive clients may well let you know what they'd like you to do next.
The Website Technology you need
If you're even remotely thinking about planning on launching an Information Product, you'll want to start doing something in three technical areas (if you're expecting any level of success):
- Have a Customer Relationship Management (CRM) system
Know who your clients are, what they've bought, when they bought, how you get in touch with them and to work out what else they'd like to buy.
- Set-up an Autoresponder
Keep in regular contact with your leads and clients with resources and offers that are timed to their potential needs.
- Get a Shopping Cart
It's vital you have some way of processing payments, how can people buy from you if you've no way of accepting payments as swiftly and painlessly for everyone involved? The person buying as well as you.
Do It Yourself
The modern marvel of technology is that even the most complicated tasks can now be accomplished with a few months of hard graft and a bit of tenacity, which is exactly what you get with your low cost/no outlay DIY options.
Here are three to choose from -
- Hot Pink Websites
Hot Pink Websites is a type of Online Business Platform which brings together your website CMS, Shopping Cart, Newsletters & Autoresponders and Event Marketing Systems into your one website. You'll find Hot Pink Websites similar to working with desktop software like Word (On a scale of 1 - 5 where 5 is most difficult. Hot Pink Websites is a 3).
Kajabi is an Online Marketing Platform which brings together your CRM, CMS, Shopping Cart, Community Membership and Event Management into one website. Kajabi makes use of templates for the design of your website so that all you need to worry about are the promotional videos and completing the forms to get your content in the right places (Kajabi has a difficulty rating of 3.5).
- Internet HQ
Internet HQ is an Online Business Platform which brings together your CRM, CMS, Online Store with Shopping Cart, Continuity Program Autoresponders, Community Membership and Event Marketing Systems all into one website. If you've blogged using WordPress or Blogger you'll find Internet HQ moderately difficult to work with (Internet HQ has a difficulty rating of 4).
Which ever of these Do It Yourself options you choose, confirm that what you want to be able to do is achievable with the platform first. They may have the same features however it's the way those features work together that will determine whether it's the right one for you. All of these systems give you the opportunity to free trial them, so roll up your sleeves and give it a go.
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