1. Information Product
a) Generally, an information product is any chunk of knowledge that has been recorded in some fashion – whether that be in a print format, an audio format, or a video format – so that it can now be passed on to others.
b) As ‘digital goods’, if it delivers knowledge and you can e-mail it to the customer or offer it as a downloadable file, then it qualifies as an information product.
2. Information Product Formats
a) Print books and e-books
b) Booklets and special reports
c) Manuals and workbooks
d) Audio cassettes, CDs, or downloadable audio files
e) Videotapes and DVDs
f) Tele-classes
g) Subscription-based web sites
3. Being Infopreneurship
a) BusinessDictionary.com
I) Information entrepreneur.
ii) Business person who collects information from several sources, and combines it into novel ways to serve the readers’ needs.
iii) H. Skip Weitzen (author of the book ‘Infopreneur’) describes an infopreneur as “a person who gathers, organizes, and disseminates information as a business venture or as a value-added service.”
b) Wikipedia.com
I) a person whose primary business is gathering and selling electronic information.
ii) an entrepreneur who makes money selling information on the Internet
4. Benefits of Information Products
a) Passive income
I) Once an information product was created and the distribution was automated, sales can occur with little additional effort.
b) Cost of entry
I) The cost of creating electronic product is minimal
c) Expert status
I) Publishing a book enhances your credibility and can lead to speaking engagements and media interviews.
d) New products bring new customers
I) Each product may appeal to each customer differently
e) Marketing opportunities
I) Each new product helps you reach new markets with your advertising efforts
f) Cross-promotion opportunities
I) Giveaways are strategy to attract new customers as well as increase exposure to your target audience
g) Potential for corporate deals
I) You could resell your content to corporations or other professional organizations to give away to their customers or for use as training materials
h) Word of mouth
I) When you create products with tremendous value, inevitably your customers are going to talk about it.
5. Generating Information Product
6. Creating Information Product Content
a) Ask your audience:
” what is your biggest question (or challenge) about X?” (“X” is your specific topic)
b) Use a survey to your target audience or other people who are also interested in that topic
c) Write down your tips, techniques, strategies, or steps that solve the most popular questions or challenges
7. Keys to Success with Information Products
a) Quality: make sure you produce with highest quality
b) Expertise: demonstrate any credentials that you have in your field
c) Value: check to see how your competitors are pricing their products
d) Delivery: product delivery needs to be efficient and timely.
e) Marketing: a solid marketing plan is essential to success with info products
f) Repetition: the average consumer needs to be exposed to a product 6-8 times before making a buying decision
g) Development: all info product should be up to date. New product should be in development and complement the other products you have available
8. Strategies for Promoting Information Products
a) Build a website specializing in topics related to your products
b) Provide free information as a teaser or sample
c) Find public speaking engagements
d) Free teleconferences
e) Free newsletters and e-zines
f) Up-sell and promote additional products when someone makes a purchase
g) Establish yourself as an expert in your field by being seen and heard everywhere
h) Create an affiliate program
I) Swap advertising with websites and e-zines that reach your target market
9. Being an Expert!
10. Building an Expert Platform
a) Consulting
b) Establish a Website
c) Public Speaking
d) Teach Classes
e) Publish Articles
f) Branding
g) Blogging
h) Online Experts http://www.AllExperts.com
11. Case Study