1. First of all I want you to understand what exactly does the Term Advice and Information product mean?
The Term Information Product means an electronically deliverable, knowledge-based product. There is a huge variety of Informational Products like E-books, Reports, E-zines, Newsletters, Audio Programs, Courses & other Tutorial files.
2. Why are Information products such a great business opportunity online?
The Answer is simple: It’s the ultimate way to make money online:
Basically you can take what You have, know and like and turn it into Money selling advice and information. You can start it without having Money. Yes, You can create them with little or no investment at all. (You only need pay for a domain name and a webhost. But You can make a high quality product for free.) You can create your products from Home sitting in front of your computer in your free time. You can start your business without Risk. The only thing you can lose is your time you spent creating your products. You can test the market without investigating a lot of money.
There is a very high profit potential in Advice products: You can create and sell an E-book all by yourself. What’s even more persuasive that you can completely forget about production costs, inventory costs and shipping costs as well (as it’s delivered electronically). A huge advantage of Information product is that the time-lapse between purchase and delivery is absolutely negligible. (Simply because it is delivered electronically)
3. Step-by-step Tutorial for creating your own Advice or Information Product:
1. Make a Detailed Market Research (learn more in the 1st part of the Series) and Find Demand on the Market. Don’t lose your time creating products that people are not interested in. You cannot convince your Prospects that they need your product- search for Products with proven Interest in Your Niche.
2. Define the End Results you want and make a Brainstorming about the different options you have to reach your Goal. Decide what kind of Strategies you want to use. Find out what products sell the best in your Market before starting to create them.
3. Run a trademark check on nameprotect.com before Choosing a Name and Logo for Your Product. Avoid Legal Issues and losing your product because of Trademark Violation.
4. Create a Small version of what you want to sell (an E-book or Audio Tutorial for instance) and test it. Make a PPC campaign and Give it out for Free. Don’t work on your product until you get Proven Numbers that there is a Demand on it on the Market. Check out your competitors Products to learn from their Mistakes and Profit from their Successes. Spy for the Topics they unlock, the product types that sell the best…
5. After defining the Winner combination it’s time to turn your Knowledge into an attractive, easy-to-understand product and turn it into money. Don’t start to write your e-book right after choosing a Topic (people who make this mistake often burn out and never finish their product). Make a Plan at First and define the End Result you want to achieve. Making a Brainstorming with your Partners or Team Members focusing on the Results will shift your Creativity and lead for better Results.
You can also Spy on your Competitors and Make a Market Research but forget about copying from existing products. Find out the Current Needs of your Prospects and Find the Solutions for them. Focus on creating something New and Maximize it’s added Value. (If you don’t know much about your market, you can simply hire and Expert to create your info product on guru.com,or make an interview on freeconference.com and transcript it. You can maximize the quality of your product if you decide to make the Expert involved in the project – hihgly motivated people are having better results and if you offer people to share your income the become really motivated…)
6. Electronically delivered products have the disadvantage that people don’t receive a physical item after buying it – just a file on their hard drive. Most of the people go shopping because it makes them feel happy. Creating an outstanding Design you can reduce this weakness. Spending some money on getting a professional logo and a powerful cover image will position your product in head of your competitor’s.
7. Don’t forget about the optimal Pricing of your Product – Information products are usually not expensive most of them cost $20 or less but Pricing is a good way to increase the perceived value of your products and position yourself in head of your competitors. Avoid the mistake of pricing your product too low because production cost is zero. Price it according to the benefits it provides.
8. To get your customers come back again and again add more content and Repeat your Successful Campaign
9. Sell Your Products: give away Free Tutorials before you try to sell anything. It shows that you are confident about the value of your product and providing Immediate results for free you can build Trust in your prospects and they will come back later to you wanting to buy more information
10. Provide Testimonials for instant credibility: Publish the achievements that your Clients had (the new FTC rules has changed the routine but you can still Add testimonials to your website if you can show measurable results)
11. Adding a Money-back guarantee you can avoid charge-backs and negative comments and you make feel your prospects more comfortable about getting their money back if they are unsatisfied and want a refund.
12. Write a Powerful Sales Copy or outsource it for a professional. Focus on the Benefits and simply tell them how this information product will enhance their lives and solve their problems. Speak one-to-one.
Now before you even start to Create Your Information Product – I want to give you some advanced Techniques to Shift Your Mindset. I want to share with you the the 10 steps I learned from Eben Pagan- Internet Marketing Guru who is coaching the most Successful Self-Made Entrepreneurs – and Helped me to Change my Unconscious Programming:
1st Step: Shift your Mindset From Expert to Marketer. Most of the Experts who realize that they know more about a topic than average people don’t want to make the Marketing. They are thinking about Marketers like second class citizens. The Fact is that it’s more important online how to be an Expert in Marketing. When you know the Market and you are interested in publishing Information products you can easily find the Information you need to create an outstanding product or you can simply hire an Expert to create it. Shift Your Mindset from being an Expert to be a Marketer. When You manage to become an Expert and a Marketer you are going to be even more effective. Most of the self-made millionaires online trained themselves to become a Marketer and not “just” an Expert in their field.
2nd Step: Shifting your Mindset from being an Employee to an Entrepreneur changes the way you think about Values. Employees have an unconscious program that determines the way they are approaching the world-they typically think this way: I show up for work in a given period of time I do my job and I deserve to get money in return. There is no problem with this belief system unless you want to become a successful entrepreneur and want your income go up very quickly. Now that you are reading this post I guess You decided to increase Your income- let’s have a look on the mindset of the most Successful Entrepreneurs: basically they are more interested in creating new things, creating more value and solving problems and getting results than just putting their time and energy in work. When you are creating your information product forget about copying other products and websites. Search for new solutions. Focus on Creating a massive amount of Value for your Market. And then after solving the problems of your Market you can expect the money you were waiting for. Give First and Get after.
3rd Step: Focus on becoming a Driver not just a Doer. Shift Your Mindset of Work to the Mindset of Results. The difference between a Doer and a Driver is that Doers are just thinking on themselves like someone who is doing the work while a driver takes the responsibility for delivering the Results. A Driver is a Leader. Stop seeing yourself like someone who is making things and become someone who delivers the Results. The only way to reach this level is forgetting about the small details and focusing on the Results. It’s very important to Leverage this Mindset shift before starting to create your Tutorial Product. The reason why most of the people fail to finish an e-book is that they decide to make an e-book and immediately sit down in front of their computer, open up a word document and start to type…yes, they burn out quickly without seeing the end results in front of them. Drivers on the other site make a brainstorming before even starting their e-book and collect all the details and ideas including the different ways they can use to reach the specified End Result.
It’s a very simple idea: most of the People identify themselves with the work that they do. Those people almost feel themselves guilty if something seems to be too easy. Of course it is good and necessary to work hard especially if your love your job. But if you focus too much on the work you zoom to the details instead of the end results. Start to Think Big.
4th Step: Use the Mindset – Everything is a Test. A mistake that most of the people do is that they find their Niche and then spend a way to much time and money to create the product without testing it. Then after months spent on making the product they realize that there is no interest on the market in buying their product. Well, that’s definitely a problem that can be avoided. Create a small version of what you want to sell (and E-book for instance) and test it. Make a PPC campaign and check out the concurrent products as well. As I told in the 1st part of the Series get proven numbers before you even start to create your product.
5th Step: “Cat your Losers short and let your Winners run.” This is actually a term Stock marketers use but it very relevant in the Information Product Market as well. The reason why most of the Stock marketers lose their money is that they hold on their stocks even if they are going down. They hold on their Losers instead of let their run. Or in the other case when their stock starts to go up they quickly sell it for the profit because it might going down. They cut their winners short. Now what does it mean in our Market?
When you are testing your Advice Marketing Product cut your losers short. Don’t spend too much time trying to make something work that doesn’t. Find something else that works. Or in the other hand let your winners run. If something works don’t go on to something else until you didn’t maximize your Results from it.
6th Step: Never give more than a 20% Probability that something New will make money. Most of the Products that you will test won’t work. This is true. You will fail at first. But the good news is that everyone does and just a few people are determined to test, test and test until they find their Niche. Success is one step beyond the greatest failure you had. Most people don’t reach the highest levels because they give up. So if you never give up and you keep testing you are going to find something that works and it will give you a huge advantage over the competition.
7th Step: Create products for your prospects and not for yourself. Most of the Experts are creating products for Experts and not for people who don’t know anything about the topic. When you are creating products focus on creating them for people who don’t have the level of knowledge you own. Remember the time when you first learned about the Topic and think about ways that could have been made your job a lot easier. Simplify it and Communicate in a simple understandable language. Write and speak one-to-one with your Reader, show him or her how to get the Results step-by-step. Remember that your audience is Regular People: Don’t forget about that your readers are average people- with negative emotions, with debt, a law self esteem. Not everyone is satisfied with his Life-with his job, family, relationships, finances…. Write for regular people and not for yourself
8th Step: Learn to Connect on Fear and Problems. What turns out is that Fear and Problems are better Motivators in most of the cases than desires. People pay more and act faster to get out from a negative situation. Your prospect probably has some frustrations. If you can connect them on this level telling them that you understand their fears and you can help them to solve them they are more willing to listen to your techniques and you can
9th Step: Build Trust with Techniques and build Relationships with Results. If you want to make money selling Advices you shouldn’t forget about that people don’t know anything about you. Most of the people write Information Products starting with an Introduction telling why people should listen to them without even knowing them. Are you wondering why they don’t want to give their money for an alien? Having an Information Product business you need to accept the fact that people are not really caring about you. They are interested in the Results they want which means they want the techniques that can help them to solve their problems. Give people immediate results first before even asking for anything in return and they are going to like you and trust you more. Use the Free Line- give out a Free E-book, Audio Tutorial or Teleseminar and give immediate results for people and they are willing to give more money for you as well. At the End you are going to make more money on the Back End.
10th Step: Focus your message as narrowly as you can but still talking directly to the most of the people. Forget about Magical Products that are solving every problem and Focus on one Thing, one Segment that Affects lots of people. Keep in Mind that People don’t pay you Money for what You want. People only pay Money for What they want. You won’t make money if you create a product that you think can be interesting for people.
In the Next Post I’m going to show You how to: Generate Traffic to your Website (you can have the best product on Earth, if no one knows about it, it’s nothing) How to increase your Conversion (how many people buy something from your side-what to do: copy writing, video, presentation)