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!

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

    1. Marc M. Demers

      Hi,

      Info Products will be the heart of my business. I’m looking to master Products creation, PLR and Membership Site too.

      Thanks for your precious help.

      Regards

      Marc

      Reply
    2. Marlene McPherson

      Does this book “How to have your own inform product within 30 days” include the steps on how to set the product on the appropriate site for down load etc ? I have made products but never done this part. Thanks for your answer.
      Regards,

      Reply
      1. Eric Post author

        I actually cover that process in these lessons for free 🙂

        Reply

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