Are you a new entrepreneur, who knows the value of creating a list but doesn’t know how to do it? Maybe you think, “Why should anyone opt in for my list? We all get too many emails!” Or maybe you are an established business looking for another revenue stream or ways to create interest in your next course or upcoming book. The answer to all of these situations is to develop information products.
What are Information Products?
An information product is typically associated with educational e-books (such as Kindle, or PDF), audio recordings, or digital video recordings. Basically information products are some sort of intellectual property content, stored in a digital format suitable for selling on the Internet.
Keep in mind that e-books are not the only thing that can be downloaded! What you can create and offer is only limited by your imagination and the needs of your target client. More than 3 billion people use the internet [source]. One way they use it is to search for and acquire information that will fulfill a need. Your digital product can offer your target audience the information they are looking for in an organized format. It’s true – Content is King. Use this to your advantage and you will always have a sales funnel full of prospects.
6 Ways to Use Information Products to Build Your Business
The first is list building. Everyone wants to make a profit but you often have to give the best of yourself to establish credibility. Create a special report or a short e-book and offer it free in exchange for subscribing to your list.
Sell for profit. One advantage of information products is that they can work on autopilot for your business. Delivery doesn’t require postage stamps or boxes. Profits can be increased exponentially with the right marketing. A word of caution: You must be established as a credible expert in your niche before your target audience will pay for your products. If you’re a new business don’t expect to sell your digital products immediately.
Upselling. This is something many entrepreneurs miss entirely or don’t make an effort to use. While you are using that free e-book to build a list for your business, link it to a variety of products that can be sold. For example, when your new subscriber submits their information on the opt-in page, they are then redirected to a page where they can also have access to an e-course related to the eBook for a great price. (Learn how to build an opt-in page.)
Lead generation. Offer contests on your social media sites with free digital products as prizes. If you offer these same products on your website, be sure they are listed with the normal selling price. Your readers will check to see how much their prize is worth. Remember to provide readers a way to share the contest with others as well.
Newsletters. There are various opinions on whether or not newsletters are a thing of the past. They can still be a profitable marketing tool if you use them wisely. Basically, always get permission and don’t over send. One way to be sure your readers feel they are receiving something of value is to include a link to a free information product. This can be an audio, video, e-book or something as simple as a “Top Ten List to….” (Learn how to create a newsletter.)
Increase visibility. Network with other business owners on social media, forums and at conferences. Participate by answering questions and offering solutions but also provide free access to your information products. You may also find other business owners who would like to engage in a joint venture. This is a great way to get your product or service in front of more people.
Don’t just create information products to gather dust on your website. Leverage your products to establish your credibility, fill your sales funnel and create another revenue source.
