A few months ago, I received an email from one of my readers in response to an article I wrote.
She ran a website that sold second hand clothes, furniture, etc and in her email said,
"I can't sell information products in my kind of business. Your marketing doesn't make sense for me."
Maybe you feel the same way. Information products sound like a good idea. It would be great to have more ways to bring money into your business. But you aren't seeing how you can create, much less sell information products for the kind of business you run.
It may seem to you that information products are strictly for guru-types who are well-known in their fields.
But I feel...strongly...that any business owner can benefit from creating and selling information products.
Example: Information Products for an Online Thrift Store
Let's start with how our web-based thrift store owner can create an information product or two that can bring some extra money into her business.
The owner, Lori*, runs a business called Grandmas Treasures. She sells vintage clothing, jewelry, dishes and serving pieces, etc online. If she can lift it herself and put it in a box, she sells it.
(*Not person's or business's real name)
Although Lori's stock is eclectic, she's been collecting costume jewelry from the 1930's and 1940's since she was a kid. Over the years she has amassed a ton of information on how to spot fakes, which designs are most valuable, best sources, etc.
Lori could easily, with a little time and effort, write a 3-page article on vintage jewelry, "Don't Get Taken: Ten Ways to Make Sure Your Vintage Jewels are the Real Thing."
With some digital photos, a few good stories, and resource links, Lori has an information product she can sell on her website.
That's just one idea. I can think of several more.
How to Create an Information Product for Your Business in Four Easy Steps
This time we'll use Jack, a massage therapist, as an example.
Step 1. List the Questions Customers Frequently Ask You
Types of questions Jack, our massage therapist might get include:
Each question has in it the *seed* for a potential information product.
Step 2. Looking at the List, in Which Questions is There the Greatest Desire for a Solution?
The more someone wants an answer, the more they are likely to value the answer. These questions are your best candidates for an information product customers will buy.
In the case of a massage therapist, prospects and clients are likely to be in physical pain and people in pain are motivated to make the pain go away. The question I especially like is:
Is there anything else I should be doing to get better faster?
An information product that helps the client get better results when they work with you means a more satisfied client, repeat business, and referrals.
Step 3. Answer the Question Using Any of the Following:
Our massage therapist creates a 12-page e-booklet called "Ten Steps to a Pain Free Back.
In this booklet he covers ten actions he asks his clients to take to improve lower back pain and prevent it from coming back. The steps address issues like posture, exercise, relaxation, and stress reduction to name just a few. .He also includes a page of resources with links and phone numbers.
Step 4. Make Your Product Easy for Customers to Buy
Jack sells the booklet on his website for $12. Website visitors pay for the booklet by credit card or using Paypal. Then they download the booklet using a link Jack emails them.
What About Your Business?
You just learned how two different types of businesses can create information products their customers will buy.
How about your business? What information products could you be selling that serve more customers and add to your bottom line?
Learn more about the author, Judy Murdoch.
Great article, Judy! I've been thinking about writing up an article for my soccer product reviews website, but I've been having trouble coming up with how to write it. Those four steps will definitely help me. Do you have any suggestions on how to get the product to them? Are there any services you particularly like to do that?
Regards, Andy
Kudos to you Judy for writing an article that will prompt more business owners into seeing beyond their inventory and on to their resources for passive income!
As a writer I have been pleased to participate in the development of such informational products. It is true that everyone knows something that others are willing to pay for.
~ Sharon
Thank you Judy, for reminding me how applicable information products are for any business. I have no excuse, really, as I'm a writer with a marketing background, who is trained in interior design, real estate, and feng shui. That should be a slam dunk!
Truly one of the best articles I've read here. Thanks!!
Thanx for helping me to break through my authority barrier! I think I shall give it a shot!!! Dawn
Thanks so much for this. Really good information and I will print it out and share with clients. Extra kudos to you!
Kind regards, Terra Vita
From Andy:
"Do you have any suggestions on how to get the product to them? Are there any services you particularly like to do that?"
Andy, would you give an example of what you mean by "get the product to them"?
Then I can give you a better recommendation.
BTW, your soccer products reviews sound cool. My 12-year old played in a league for several years. The equipment became quite an investment as he got older.
Diane:
"I'm a writer with a marketing background, who is trained in interior design, real estate, and feng shui. That should be a slam dunk!"
Yeah! You have such a great combination of experience. I'd love to see what you would come up with.
I have a couple of Ebooks, but thanks for breaking it down to see other areas I could go
Mitta yourholistichealthcare.com
Judy - I meant is there a service you use to send the information product to them? Or do you just email them and attach it/include it in the body.
Thanks!
Andy,
I usually upload the eproduct to my webserver before I do the promotion. Then I create an autoresponder using either my shopping cart (1ShoppingCart) or my email list service (aweber).
When someone makes a purchase the shopping cart autoresponder gets sent with the link.
If someone completes a form (for my free workbook) an autoresponder in aweber goes out with the link.
Does this answer your question Andy?
Great, thanks so much! That's exactly what I was looking for!
Regards, Andy
Excellent article! :)
Regards,
Aaron
Thanks Judy.
Information products also make great "incentives" to give away in exchange, for instance, for a prospects email. When you can "build your list" you have more people to keep in touch with! I'm finishing an ebook for this very purpose, and have already had over 40 people sign up for it.
For a massage therapist, an information product might be even more valuable as an incentive to book your first appointment! There are so many great reasons to have information products. Thanks for sharing some great examples and encouragements of how to do it!
And now... I've got to get back to writing! Kate
What a great article...straight to the point with tons of value. I am a life coach that also holds seminars and I have been toying with the idea of implementing e-books on my site as well (www.beyondleft.com). Your article helped me in making this decision, giving me the confidence to keep plowing forward. Thanks for sharing.
Meisha
@Meisha e-books are a great idea. A big challenge when you're a coach or consultant is making the results tangible to prospects. There's a real temptation to sell coaching because YOU love coaching so much. I find products help me nail down the actual results I help clients get -- especially when I do "how to guides."
Another winner article....obviously i have to follow you more....:)
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