LESSON #44: Introduction to Information Products

Throughout these lessons, we’ve been talking a lot about your website. And if you’re watching these lessons, I can only assume that you want to make money from your website.

So I think it’s about time for us to talk about where the money is going to come from…

(Watch this video…)

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Main points:

  • Building your business without a specific plan for monetization is a BAD idea.

  • Why we’re building an information marketing business:

    a) You need to have you own product. (As mentioned in Lesson #7)

    b) An information product can be created for low cost or zero cost.

  • What is an information product? (aka. infoproduct) –
    It’s a collection of knowledge, assembled for distribution, and designed to be consumed by its users.

  • Types of information products:

    Physical Digital
    Books ebooks
    magazines E-zines
    newspapers online news
    newsletters email newsletters
    reports digital reports
    white paper digital white paper
    CD’s Digital audio, MP3′s
    DVD’s Digital video
    blu-ray HD streaming video
    seminars webinars, teleseminars
    workshop membership website
    Software, scripts
    Mobile apps (ex. iphone app)
    ANY combination of the above

  • We’re going to focus on DIGITAL information products.

  • Benefits of Digital Information Products:

    - Easy to create.
    - Low or zero cost to create= low risk, high profit margin.
    - Higher perceived value.
    - Easy to fulfill and manage.
    - It’s scalable.

  • Ebooks vs. other forms of info products…

    -Ebooks are not the easiest to make.
    -Ebooks may have lower perceived value than audio/video.

  • The easiest type of information products to create can be…

    -Audio recording
    -Screen capture video
    -Web cam or Flip video (with no editing)

  • *The amount of effort that you put into an information product does NOT dictate the price that your market will pay for it.

  • What TYPE of digital information product should you create?

    1) The type that your target market prefers to consume.

    2) What format makes sense for your product?

    3) How does it fit into your overall business plan?

    (See video for several examples)

  • Think about continuity.

    Recommended resource:

    How to Have Your Own Information Product in 30 Days“.

    InfoProduct in 30 Days Ebook

    Click here to get more details and download this ebook

    (Resale Rights also available)

    Action step:

    1) Decide what kind of information product you’re going to create, keeping in mind the three points above.

    You may have noticed that I didn’t talk about how to choose a topic for your info product, and that’s because we already covered niche selection in Lessons #19 and 20. But I will remind you that your product needs to answer a major question or problem concerning your niche.

    In the next lesson we’ll be looking at how to put together your information product.

    As always, you are welcome to post your questions and comments below.

    Have a great day!

  • 95 comments on “LESSON #44: Introduction to Information Products

    1. prince samuels

      Great lesson Eric. I might start thinking about creating my first information products. keep up the good work.

      Reply
    2. robert

      well i did it again i bought my domain names from bluewire and when i tryed to take them to hostagor i was told by bluewire they were not my domain names because they were already gone.i paid a lot of money for 9 domain names and now i’m back were i started with no names. i will never reccomend there product again.i don’t belive they would stick me with names i can’t use. they also are hard to get a hold of when it comes to solving the problem they just shuffle you around like a playing hand of cards.at least i know i can count on you.your the best in the business thanks.

      Reply
    3. Claudia

      Hi Eric,
      Thanks for the tips about getting the legaldocs up on ths sites. I put up what you gave us but will hire a lawyer later when I make my first dollar or two…Lawyers cost a few dollars! This lesson gets me back to finding a niche…I basically can’t move ahead without having my mind made up…time to do some keyword research???

      Reply
    4. Clayton

      Hi Eric,
      I truly enjoy your emails and information on marketing and find them most helpful.

      I have just finished a membership site for families and starting to market it.
      Please check it out and give me your opinion.
      http://www.famlystuff.com

      Thanks again for you continuing input.

      Clayton

      Reply
    5. Eric Post author

      Looks like you’re off to a good start. The sales page is something you’ll want to test and tweak. I think it would be cool to add a video eventually.

      One thing I noticed throughout the site… try to avoid using the word “Stuff”. This word does not build value in the product. Instead use words like “valuable information”, “time and money-saving products”, etc.

      Reply
    6. Val

      Hi Eric,

      Thanks for your great teaching. I recommend your course regularly and have learned a lot from you. Best teaching on the Web! Excellence is definitely your keyword.

      Val

      Reply
    7. Val

      Hi Eric,

      Just a question. If you were to recommend concentrating on one method of advertising your product, what would you select?

      Val

      Reply
    8. Eric Post author

      I’ll be covering traffic generation in depth throughout several lessons. The most important element is list building. Then I would focus on affiliate traffic. In terms of paid advertising, I would focus on PPC.

      Reply
    9. Jason

      Thanks Eric, your videos are getting more and more interesting. Great depth into this internet marketing business. Really appreciated!

      Reply
    10. Claire

      Dear Eric,
      Please could you give me the link to the troubleshooting document on getting the video to play. I can’t get no 44 to play at all & have had no trouble with any of the others. I have turned all other programs off & restarted the computer to no avail. I am just loving the series & am definitely a newbie!
      Many thanks

      Reply
    11. mrsdwc

      I find the info to be AWESOME but I’m a visual learner. In fact, I speed read and remember where things are on the pages, etc. I don’t do well “listening” and for this reason, I’ve not been able to utilize the site at its true potential. Perhaps others are like me. “Listening” does not stay with me. I do try though because the info is awesome and impressive.

      Reply
    12. Jan

      Hi Eric,
      Thank you so much for your practical and informative lessons. You have been an encouragement to me as I have been trying to build our website, Feeding His Lambs Ministries Canada, (a sub-domain free site) over the last 8 months. Our site is multi-faceted covering the various branches of our work:Radio Programs & Sermons, Devotionals, Artwork & book,and Sewing outreach ministry, using regular and blog style pages.

      I have published my own 208 pg illustrated devotional book including a color center folio, called The Treasure of His Company, under the Essence Publishing imprint. I tried several campaigns over Christmas, but no conversion sales. I put slide shows of real pages, printed excerpts of some pages, shared some of the actual devotionals etc. I do not know what else to do. This is the main item for sale. I do Watercolors and have my art up as well, but not offering if for sale on the site since we are a small ministry without funds to care for shipping world-wide etc.

      Also my other question is, am I doing a disfavour to our potential of ministering spiritually to visitors by making the site include each branch, or should I be making several separate sites for each branch and then link them somehow?

      Can you take a quick look and give me your opinion? http://www.feedinghislambsministries.yolasite.com There is so much yet to learn and I want to do my best for the Lord. Blessings, Jan.

      Reply
    13. Eric Post author

      Thanks! I think it’s OK to have the branches on one site, but I do think the site may need some work on it’s focus and direction to achieve your desired objectives. Hopefully these lessons will help you develop some of that direction and vision for the site :-)

      Reply
    14. Jan

      Thanks for checking my site and for your helpful words and guidance. I appreciate it.

      Reply
    15. selfconfidencehypnosis

      To me, creating an Info Product is a daunting task. I would not know where to start. Looking forward to your next lesson for guidance. Thanks

      Reply
    16. Eric Post author

      you can do it! And if you don’t want to do it… outsource it.

      Reply
    17. Sean Breslin

      your how to sell hosting interests me Eric, do you sell the rights?

      Reply
    18. Eric Post author

      No I am not offering resale rights on that one, but maybe some day :)

      Reply
    19. Sean Breslin

      Worth a try… I will put it in an exit page offer box as is and see how it goes… my current offer needs freshening up!

      Reply
    20. Yoga

      Great lessons .How’s the way to display your article in my web on autopilot ?

      Reply
    21. Thiago Santos

      Hi Eric
      I am Brazilian, do not take this wrong my bad English writing (laughs)
      I would like to thank this post, it really was very important for my pretensions to my site, I will become reader of your blog, thanks

      Reply
    22. Learie

      Hi,
      Eric excellent job with the lessons as usual.
      However I bought a product by the name of “push button marketer” from you, great work again, but I am having some challenge putting it together.
      I just need to know the order in putting it together, what goes first etc…

      Reply
    23. Eric Post author

      Thanks for your business :-) Assuming you purchased it directly from my company (and not a reseller), you may submit a ticket at the helpdesk (www.ericsupport.com) and Micah can help you with it. Please try to be specific about what part you’re getting stuck on. thanks!

      Reply
    24. Eric Post author

      It is possible to display my blog posts using an RSS plugin, which gets the posts from my feed. However, I do not permit this since it is copyrighted content. However I do allow snippets of my articles to be posted, along with a link back to the original post on my site.

      For example, in this video you will see me use a WordPress sidebar feature to display blog post snippets:

      http://www.ericstips.com/instantwebsite

      Reply
    25. Dave

      Eric, I’m catching up! You (or your autoresponder) just emailed me the link to lesson 10, but I just finished watching lesson 44! I was just thinking that it would be really helpful if there were an index of the titles of these lessons, so that later, we could look up, say, the lesson on patents and copyrights and other legal stuff, and find the appropriate lesson easily. Or does such an index already exist? Cheers, D
      PS: I looked at the LOLMinistry site; truly impressed. Good job, and good work! God bless.

      Reply
    26. Anonymous

      This is good, but there is so much free information out there. If you take the time to search, you can save a lot of money, so why pay for it? I would always do some research on the internet before I would buy any info product.

      Reply
    27. violet

      how would a person sell a e-book i have heard of people writing a nice e- book only to have it down loaded and given out free to others?

      Reply
    28. Marija

      Hi Eric,
      Extremely important lesson for me. I want to create an information product how to developed your personal and business potentiality by help of tools. You have open my eyes that I have sent this information in my companies before the tools. Thank you very much.
      Could you please, send me the lesson #42 that I asked you in previous lesson. I have not received it. Thank you! Marija

      Reply
    29. Katherine

      My first thought when finding out that the course was about creating and marketing information products was that this is not something I want to or need to do, but probably something it would be useful to know.

      Then I came up with a concept for making a video tutorial series members area for a small market which has very specific needs and is underserved. It probably wouldn’t make much money, or I could give it away and then send emails to list members on specific product deals that would interest these people. It would be okay to practice on.

      Then yesterday I realized that a weight loss members area I have been slowly conceptualizing actually has huge potential in sales. Everyone I describe my concept to says to me, omg, of COURSE!

      So right now I have to create 25-50 hours of recordings. I anticipate affiliates. I’m trying to come up with a catchy name. What other sort of plans should I be making?

      Reply
    30. Micah

      Hello Katherine,

      You should probably stick to creating the content for you course first (so you don’t get overwhelmed).

      Then, down the road you’ll probably want to review this lesson on creating your member area:
      http://www.ericstips.com/tips/lesson32/

      Reply
    31. Debbie

      Eric,
      I applaud you for taking the time and sending out these daily lessons. Is it ok for me to provide a link back to your website so my visitors can sign up? I look forward to receiving your emails daily. I am still learning thanks to you.I have yet to sell anything on line, I am unsure of where on my website to place it. I receieve alot of visitors and I have over 700 comments with 100 waiting for approval. I am now ranked page 1 or 2 on google and I have never paid for any advertising.If you get a chance, please visit my website –
      http://www.profitfromhomebasics.com
      Let me know what you think. I would really value your opinion.
      Thanks again,
      Debbie
      AKA-dcprofit

      Reply
    32. Micah

      Hello Debbie,

      Yes, if you contact our helpdesk, we can show you may earn commissions by your referrals to Eric’s Tips:
      http://www.ericsupport.com/

      It’s a good idea to place outgoing links naturally within the text of your blog posts. People have become rather advertising blind, but still respond to genuine recommendations mentioned naturally in already valuable content.

      Reply
    33. dale

      great stuff

      Reply
    34. Jeff

      Hi Eric,
      I have enjoyed your learning videos. You have covered a lot of information in the last 40+ videos,but I am still at a lost on whether or not blogging is right for me. I know in the past lesson you mentioned we had to make a decision if a blog is right for a business. If we do not have a blog type website can a person still have success as a marketer? I may need to join your coaching program, because I am really at a lost at this time on becoming a marketer. Thank you for the valuable lessons.

      Reply
    35. Eric Post author

      No you do not need a blog to be a successful marketer. What I DO recommend for all marketers is having their own website, and a WordPress blog on your own domain is an easy way for most people to get started. In my opinion it’s a good initiation even if the blog is not the eventual business model. We would be happy to help you out and make sure you’re on the right track in the coaching club. Thanks, Eric

      Reply

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