How To Create Your Own Info Product
by Tim Knox
Copyright © 2005
In the last article we talked about why informational products are the best type of products to sell online. An informational product can be a digital book (known as an e-book), a digital report or a white paper, a piece of software, audio or video files, a web site, an ezine (electronic magazine), or a newsletter.
Any product that's informational, instructional, or educational in nature can be considered an info product.
If you missed last week's column you might want to un-line your birdcage long enough to read it first so that you have a thorough understanding of what we'll be discussing this week, which is how to create your own info product.
As covered in detail last chapter, here are a few of the reasons why information is the best product to sell online:
One of the best things about information products is that you don't need a product designer or a manufacturing plant to crank out the goods. You also don't have to spend months and months doing product development.
If you have a computer and a word processing program you have everything you need to create a best-selling info product in a very short amount of time.
Great, you say, but I'm no writer. How the heck can I get into the information business? The good news is you don't have to be a great writer to create a great info product. If you don't have the ability to create the product yourself there are several avenues you can take to info product success.
Co-author with a writer
I know many subject matter experts who can't write their names in the snow and many excellent writers who don't have the expert knowledge required to create an informational product that will sell. Co-authoring can be a match made in Heaven if an equitable co-authoring arrangement can be made. Co-authoring means that you both get credit for creating the product and share in the revenues.
If you are an expert on a topic, but not a writer, find a writer to co-author the project with you. Conversely, if you're a writer without specific knowledge, find a subject matter expert and partner with them to create the product.
Hire a ghost writer
There is no shame in using a ghost writer to put your thoughts to digital paper. You don't really think all those pro athletes and Hollywood actresses can write 300 page books now, do you?
Publish a directory
Sign on with an affiliate program and sell their info products
The key to creating a successful info product is this: the information must be worth far more than the price of the ebook itself. If you're charging $27 for your product, it must give the buyer many times that price in perceived value.
I asked info product expert Jim Edwards, co-Author of "How To Write and Publish Your Own eBook in as little a 7 Days" for his advice on how to create a killer info product.
Here are Jim's Top 5 Tips:
* Niche It - Make sure you are targeting a highly defined niche audience... don't try to sell to everyone. You can get a lot more money showing life insurance agents how to find more customers to buy $250,000 policies than you can trying to sell a product on generic sales skills improvement.
* Hit Their Pain - Make sure your info product hits a painful problem that members of your target audience will do just about ANYTHING to solve. The more intense the pain, the more they're willing to pay to get rid of it.
* Give Them A Taste - Give people a taste of what you offer in your info-product by giving them a sample. Just like the wholesale clubs get you to buy tater-tots in a 50 lb. bag by giving you one to try, you can induce people to buy your information by letting them read the first chapter or listen to the first few minutes of an audio.
* Entertain Them - People hate to be bored. Increase the power of your product by adding humor, drama and other entertainment elements that make them want more and more. This will not only help with future sales to satisfied customers, it will also keep your refunds down and increase word of mouth advertising.
* Keep it Evergreen - Don't make the mistake of creating a product that hits a fad or a fleeting market. Create info-products that can be updated with very little effort. This allows you to create a product once and keep the sales rolling in for years (literally) to come!
Do you have a question about small business?Submit your question to Tim and if he answers it on this website or in the Small Business Q&A; Newsletter you will win a FREE ebook of your choosing from Tim's extensive library!