Tuesday, May 11, 2010

5 Best Ways to Create Information Products That Increase Your Revenue

 If you are a small business owner who sells a professional service of any kind, you can increase your income dramatically by adding information products to your offerings.

If you sell only your time for money, even if you get loads of clients, you run out of time eventually. There's only so many hours in the day to book clients or to do projects for clients.

There are many ways to deliver value to your clients and customers where you make money without being present. Info products are a great solution if you are getting burned out on clients and consulting work.
And even if you're not burned out, information products can create cash flow quickly and easily. So here are 5 best ways to create information products that increase your income... no clients required.

It's not about YOUR knowledge (sorta)

When I created my very first eBook, I was so full of myself. I thought, hey, I know a whole lot and it's time for me to share it all! Big mistake. Here's why. I never stopped to ask myself these 2 critical questions:
Who is this eBook for? What problem does this eBook solve?

I was all excited to share great stuff with the world. But here's the thing, I could ramble on for hours and hours on stuff I think is important and what I think everyone should know. But my brilliance is not worth a single penny if I'm not focused on what my target market wants. In fact, I should not have written a single word without first checking in with the folks I hoped would buy the eBook.

So step one in creating information products that sell is to ask your future buyers - your target market - what they want and where they need help. And then go create what they have asked for in your area of expertise. You may be surprised to discover that what they want is not at all what you were originally planning on creating. What results is it supposed to create?

If you are creating an information product, it's not just information. It solves a specific problem for your customers. You're not just teaching or sharing. You're providing answers that are intended to produce results for the folks who purchase and use your information product.

So the next step in creating information products that sell is to make sure it is designed to help produce results for people. It should be crystal clear to your audience that the sole purpose of your product is to help them achieve a result in some area of their life or business. To create an information product that sells, give it a results-focused title and make sure the content is results-focused as well.

Selling your info-product online
Your info product won't sell itself on the internet. There's a big fallacy fostered by the rise of the internet marketing world that if you create an info product, set up a web page, the cash starts rolling in and you get to retire on a beach in the Caribbean raking in millions. Um... not so. As the saying goes "these results are not typical." Can it happen? Absolutely By just setting up a web page? Highly nlikely.
Check the size of your list/database right now. If it's pretty small (hundreds), you may see a few sales (if any at all). Now, if that's a list of folks who have met you in person, and who have a relationship with you, sales may be higher because trust may be higher. Also, if the folks on your list are just a bunch of random people (not niched to any particular group or industry or target market), the chances of making sales are pretty slim.
If you don't have a crystal clear strategy for rapidly growing a quality and highly targeted list, a way to drive traffic to your website, a way to convert visitors to your list on your website, effective ways to convert visitors into buyers, online sales are unlikely for your information product.

Selling your info-product offline
Your info-product won't sell itself offline either. If you plan to sell your information product offline to individuals or groups you meet in person, you'd still need an effective marketing and sales strategy to make that happen reliably and consistently. It probably goes without saying that anything you offer in business (including an information product) requires a marketing plan and a sales conversion process as well. Sure, I've made thousands and thousands of dollars selling information products, but I'd be the first to tell you my knowledge of copywriting, marketing, and sales are what makes that happen online and offline. The payoff of acquiring that type knowledge is HUGE (and necessary) for your business growth and success. So if you're ready to sell information products (or sell anything for that matter), invest in marketing, sales and copywriting knowledge or be ready to delegate it to someone who is savvy in those areas.

What to create
 Ebook? Downloadable Audios? CDs? DVDs? Online videos? Manual? Workbook? A combo? What should you create? If you're stuck on "what to create" this probably means you need to go get more information from your target market. I don't have to think too hard about what to create. My target market tells me what they need, and what they are trying to solve. If you write an eBook and start getting suggestions to make it more visual, you may need to add some worksheets or a manual, for example.

Back in my days as an Executive Coach, I used to teach a course on learning styles and working styles, so with that awareness, I try to create products that work for visual, auditory and kinesthetic learners. But your market will tell you what to create - if you ask. Listen very closely to their answers and you'll be well on your way to creating an info-product that truly sells.

Article by: Allison Babb
And now I'd like to offer you the FREE one-hour audio seminar for solo entrepreneurs on "How to Create a Steady Stream of Clients For Your Solo Business" at: http://www.moreclientsaudio.com - Allison Babb is an author, speaker and Small Business Coach to solo entrepreneurs at: http://www.GreatSmallBusinessAdvice.com
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 Visit the PR Pro Shop at www.PamPerryPR.com too!

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