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
    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!

     
  • 85 Comments

    • Luca said:

      Hi Eric,
      Digital products are the easiest to produce and sell online. My problem is that I want my first product to be different than what’s already out there. That’s what slowing me down, I may be overthinking it. It’s a work in progress for me.
      Writing a good sales letter is another stumbling block for me. I’ll be doing affiliate marketing in the meantime.

      I created my first Jing screen capture video - not professional but it was off the cuff and not scripted.
      http://www.reachsuccessonline.com/how-utility-poster-helped-me-rank-on-page-one-of-google-search/
      More videos to come
      Thanks Eric

      • Eric said:

        When it comes to your first product, sometimes you just have to get it done… and then do better on your next one :)

        Good job on the video!

        • Learie said:

          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…

          • Eric said:

            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!

      • Brandon said:

        Another great lesson! Thanks Eric, I can’t wait to read this ebook.

        -Brandon

        P.S. Let me know if you have any suggestions about getting a better SEO ranking on my website ;)

        • Eric said:

          Thanks. As far as SEO on your website… you need to move the keywords IN FRONT of your website name in the title tags. Also your image alt tags need to be fixed… most of them say “hammock”.

        • David said:

          Would selling a info product as an affiliant in order to test the market in that niche and build a list before creating one of my own.

          • Eric said:

            Yes actually that’s a good strategy. Send 100 clicks or so to your competitor’s product as an affiliate, and see if it converts. But also keep in mind, if it doesn’t convert it could just mean that their sales copy stinks. And yeah… if you’re using PPC, you could squeeze those visitors before sending them to your affiliate link, thus building yourself a targeted list before you even create your product.

          • proson said:

            Hey Eric, yeah info products are the best for profits margin. In traditional books, the most cost go for transportation, printing and packaging. Those are the cost probably what traditional books go. Thanks for your info.

            Proson
            8 days only, get 100+ Top Internet Marketing
            Products for FREE.
            => http://hopurl.com/65296

            • Ervin said:

              As usual Eric, very intuitive lesson, Thanks….

              • Thank Eric - an unusual informative lesson :-) I become more and more convinced that your point is absolutely true. As I have been in the stock photo business for many years I have seen the change from selling the physical photos to selling stock photos as digital files. And that has changed the marketplace for stock photographers and stock buyers to the unbelievable. Some stock photographers are still earning good money from their pictures, but it is other photographers (in general) than before. As an author to more than 20 printed books I am now going into the ebook market. But because ebooks are used so mush to generate leads and for branding my feeling is that that is becoming more and more tuff, too. - Not that easy to find your way.

                Having been publishing an irregular ezine for nearly 10 years, now with around 2000 subscribers (http://www.StockPhotoNews.com ) I have found it very difficult to monetize it.

                Looking foreward for your future inspiration.

                Soren Breiting
                Denmark
                PS
                Pictures should be added to your list of infoproducts

                • Eric said:

                  Thanks Soren. Congratulations on all your photography success :)

                  I would think that your ezine would be fairly easy to monetize, with such a defined niche.

                  Hopefully I will be able to show you how to grow your list faster when we get to those lessons… and then how to monetize it when we talk about backend monetization, and then how to make a killing from it when we get to product launches.

                  You are right, I suppose pictures can be infoproducts too.

              • Ray said:

                Hi Eric,

                Great video and information as always.

                I have a great ebook. We know that because you created it for me as a bonus for buying a product from you!

                I want to use this as a giveaway with my affiliate link in it for a product that has excellent residual potential. However I can also see an opportunity with having it rebrandable so others can join me as a 2nd tier affiliate under me in the program.

                Searching Google there seems to be lots of software that could do this so I’m wondering if you have used this strategy and could recommend a good software program to achieve my goal, as I would also have to giveaway the software for people to rebrand the ebook.

                Thanks

                Ray

                • Eric said:

                  Cool. Yes giving it away is a great strategy.

                  However, I would encourage you to make list-building a priority over residual commissions from the aff links in the ebook.

                  You can definitely do both, but make sure there is something in the ebook to bring people to your squeeze page too.

                  The reason I say this is because residual commissions from links in ebooks is often over-rated in my opinion. Yes I do earn some commissions from them, but it pales in comparison to the commissions I can make from my lists.

                  Making it brandable for affiliates is a good idea. I’ve used a software called Viral PDF which seems to work well.

                • Bryan Hee said:

                  3 simple steps to start an internet business.

                  1. Product
                  Product that solve people’s problem.

                  2. Website
                  Website that capture email list. “The money is in the list”

                  3. Traffic
                  Targeted traffic that lookinng information you provided.

                  To your success,
                  Bryan Hee
                  Follow me on Twitter
                  http://Twitter.com/bryanhee

                  • Asalipo said:

                    Eric, this lesson series are very useful and informative. I want to have your permission to translate this series to my language and post it at my blog. Is it ok with you?

                    • Eric said:

                      I am sorry, but to protect my current business plans I can not give you permission to post them on your own blog. However, I am planning on partnering with some translators. Basically, I would still own the content and it would be on my domain, but the translator would maintain the blog posts their language, including following up on comments, etc. And we would split the income from it. My requirements for this position are pretty strict. You need to have mastery of both English and your other language, and you need to have solid understanding of Internet marketing so you can translate in the most relevant way, and so you can respond to people’s comments, and potentially even provide some support for ebooks translated into your language. If this is something you would be interested in, please submit a ticket to my helpdesk with your qualifications and we can discuss it further. Thanks

                      • Asalipo said:

                        Hi Eric,

                        Thank you for being honest with this. Appreciate your feedback. Thank you

                    • Dan said:

                      Hey Eric,

                      Eric, I apologize for asking this question if you have answered it before, but can you comment on Primus, paydotcom.com for products that are over $200, and is using one of these services THE way to go in getting things sold?

                      • Eric said:

                        I think you are referring to Plimus. They are OK, I have promoted some stuff using their system before. PaydotCom is also OK… it’s main limitation being that they are PayPal only. However, I do like PayDotCom for how easy it is to sign up and set up a product so quickly. I currently use them for some of my products. I would not say they are THE way to go, but they are certainly a good way.

                        If you ware planning on selling multiple products over the course of your business, and if you really want to develop your own affiliates, then it can be better to run your own affiliate program on your own domain. In such case you need to use an affiliate management script of some kind, and you also need to recruit affiliates.

                        The nice thing about using a popular affiliate provider like ClickBank or PayDotCom is that you can pick up some existing affiliates just by being a part of their marketplace.

                        By the way, I have seen instances of Clickbank approving products up to $500 for exisiting vendors with a good prior track record.

                        • Janet said:

                          Hi Eric,

                          1st of all, thanks for the great content; I really enjoy your videos and reading your advice in the comments.

                          It’s good to read your thoughts about PayDotCom. However, I think there is a typing mistake in your reply to Dan — the correct link should be http://paydotcom.com/?affiliate=13698 instead of paydotcom.net/..

                          Thanks again!

                      • Eric,

                        I hear about Kunaki who can deliver physical DVDs and CDs from your digital content.

                        Have you used them?

                        Do you recommend them?

                        How hard are they to get started with?

                        Thanks,

                        John

                        • Eric said:

                          I have not used Kunaki, but I have definitely heard good things about them. I’m thinking about giving them a try for myself, so yes I would say they are worth looking at. From what I’ve heard, they are very easy to use compared with a lot of physical CD/DVD fulfillment companies.

                        • HI Eric:
                          This lesson was as all your lessons are, very informative and truthfully displayed. You walk the talk.
                          Have a great day Eric,
                          Gus Dempsey

                          • Eric, you give me the best lesson about perceived value that I learn, *The amount of effort that you put into an information product does NOT dictate the price that your market will pay for it*.

                            Thanks Eric!
                            Rogerio Job

                            • vid said:

                              Hi Eric,
                              I really like your lessions. You put lot of efforts on it, I can see that. Again, very good informative.
                              Thanks,
                              vid
                              http://www.a1webmall.com

                              • Marc said:
                                • Thank you for the information sir

                                  Thank you as well for responding in your bog. You’d make a great vendor if you have an affiliate program

                                  Rick

                                  • Mel said:

                                    Hello Eric
                                    Just like to say a BIG thanz for all the info
                                    To all newbies out there this is a 5 year plus failed internet marketer writing this. Do NOT believe or even think you can make zillions in 2 days.These products & guru’s are the ones making money off you PERIOD. Believe when I say this.I have been there.
                                    You stick with Eric & listern & learn.
                                    YOU will NOT go wrong
                                    It is a learning process & don’t let anybody tell differ’nt you will get ripped off

                                    • Anonymous said:

                                      HI ERIC!

                                      STILL HANGING ON!

                                      • I have used Kunaki for both CD’s and DVD’s. They are a dream to work with. You can upload your own original artwork for the Covers/Inserts. They produce a professional looking product, shrink-wrapped, and will even provide a barcode if you want.
                                        They will send you one finished product to see their quality.

                                        They will ship directly to your buyer if you would like a completely automated fulfillment process. For me it is better to order 25 - 30 items at one time (they will mix and match your titles). This allows me to ship the item less expensively so I often offer my product with FREE Shipping as a selling point.

                                        I highly recommend Kunaki.

                                        Karen Elizabeth

                                        • Eric said:

                                          Cool! Thanks for letting us know about that :)

                                        • Earvin C. said:

                                          Hi Eric
                                          Great Lesson looking forward to the next one on PLR I am thinking of going with niche revolution not sure what the good sites are.
                                          I have a question it is my first website what should I build it with? I’ve read your recommendation page definitely using your links for life domain, xsite pro2, and hostgator.

                                          What do you think about HyperVRE, BeBiz, or Instant Niche Maker for building my first site what are the pros and cons or the benefits of these products?

                                          • Eric said:

                                            As far as what to build your website with… it kind of depends on what type of website you’re building. For example, if you’re building a membership site, then you would want to build it within the framework of a membership site script:
                                            http://www.ericstips.com/tips/lesson33/

                                            If your site is mainly going to be a static site (not updated frequently), then Xsite Pro would be a good choice.

                                            But if you plan on frequently updating the site, or if you’re not yet sure what your website will entail, I’d recommend using WordPress. (See lessons #33 through #36)

                                            As you may have seen, I did recommend HyperVRE three years ago:
                                            http://www.ericstips.com/tips/hypervre-demo-video/

                                            It, along with other intant niche building scripts (such as the ones you mentioned), can be good for quick niche sites that are monetized with AdSense or other contextual ads. They could also be useful for building ancillary sites which essentially send traffic to your money site (where you sell your product). However, those site builders are not ideal for the type of business we are building. For your main website, it would be better to use WordPress or build it manually with XSite or an HTML editor.

                                          • Denise said:

                                            Hi Eric
                                            As usual great advice. I have sent quite a few your way from yahoo answers!! I agree about information products as well. I launched one in a nice that really does not buy. If I had had access to your information before that it would have been really useful?!
                                            Thanks

                                            Denise

                                            • Romson said:

                                              Love your vids!

                                              • sam said:

                                                I’m not sure what you mean by resale rights. Maybe it simply is what it says, no more, no less. If I buy resale rights what, exactly, is it that I’m getting?

                                                • Eric said:

                                                  When you buy resale rights, you are acquiring a license to resell a particular product or service.

                                                  This is in contrast to being an affiliate, where you are merely promoting a product on behalf of a vendor, and earning a commission.

                                                  With resale rights, you actually sell the product, and generally you keep 100% of your profits.

                                                • […] the previous lesson we talked about various types of information products, and we covered several benefits of digital information products in […]

                                                  • Shane Hale said:

                                                    Thanks for the Tips Eric =)

                                                    • Denise said:

                                                      Hi ERic

                                                      It is good to begin with the end in mind. When it does noot work this is when I have made this error
                                                      Thanks
                                                      Denise

                                                      • Thanks Eric,

                                                        Informative.

                                                        My problem is being a very good producer of product and an average internet marketer, I find the whole process mind numbingly boring.

                                                        I note you are not looking at any joint ventures at the moment - pity - my new product is awesome but without the right marketing it’s another fantastic idea with no income, lol.

                                                        • Eric said:

                                                          Don’t worry, we’ll get to the marketing part (pretty much the entire 2nd half of this 100 lesson series).

                                                          Also I would recommend going to a seminar such as JV Alert Live. They are one of the best places to find good marketing JV partners.

                                                        • Beatrice said:

                                                          Hi Eric,
                                                          thank you for the class on info products…you say we could use word etc to make an info product, can it be possible to use a powerpoint presentation to sell information products using audio… is this possible, would love to hear your feedback on it..
                                                          Regards
                                                          Beatrice

                                                          • Eric said:

                                                            Yes it’s definitely possible. The best way to format it is most likely a screen capture video. Camtasia actually has a plugin for recording powerpoint presentations with audio.

                                                            • Beatrice said:

                                                              Hi Eric,
                                                              Thank you for taking the time to reply, reason I asked about the ppt, was I have written several books/pps on Italian translation for young kids, have everything setup, but would like to sell it as a dvd, just having a little problem trying to get the words working, once its in the dvd, tried pps to dvd,tried camtasia, several programmes, but when you click on the translation its not working,,(works in ppt)but once converted to the dvd it doesnt work :(. I’m sure there is a way,, any feed back would be highly appreciated..I got so frustrated that I even emailed you through the support to try and get some answers, but got a message that said it was a brilliant idea, and thats all..:) anyhow I know you guys are busy..
                                                              kind regards
                                                              Beatrice

                                                              • Eric said:

                                                                Hmmm… that does sound like a good idea. I’m not sure how much we will be able to help with this question, because it’s really a matter of technical implementation of something we haven’t done (2 languages on DVD).

                                                                Do I understand correctly that you are trying to make the DVD interactive, with clickable features?

                                                                If that’s the case, I think you may need to hire someone with serious DVD authoring experience to help convert your material into an interactive DVD…

                                                          • kwame said:

                                                            Eric,

                                                            Why don’t you also add 2co payment button as another mode of payment since my country(Ghana) is not on the list of Paypal network countries.

                                                            I am really interested in the “How to create your information product” ebook. I can only pay through 2checkout.

                                                          • Hi Eric, thank you very much about your information, this is the best value you can give to other internet marketers like me

                                                            thank you again

                                                            • dyuane said:

                                                              Eric, this is great info. I was wanting to give some information away to get them to come back. thanks again.

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

                                                                • robert said:

                                                                  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.

                                                                  • Claudia said:

                                                                    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???

                                                                  • Clayton said:

                                                                    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

                                                                    • Eric said:

                                                                      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.

                                                                    • Val said:

                                                                      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

                                                                      • Val said:

                                                                        Hi Eric,

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

                                                                        Val

                                                                        • Eric said:

                                                                          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.

                                                                        • Dinheiro said:

                                                                          Eric, very cool post! Thanks a lot!

                                                                          • Jason said:

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

                                                                            • Claire said:

                                                                              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

                                                                            • mrsdwc said:

                                                                              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.

                                                                              • Jan said:

                                                                                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.

                                                                                • Eric said:

                                                                                  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 :-)

                                                                                  • Jan said:

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

                                                                                • Excellent tips helped me a lot,

                                                                                  Thanks Eric

                                                                                  • 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

                                                                                    • Eric said:

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

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

                                                                                      • Eric said:

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

                                                                                        • 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!

                                                                                      • Yoga said:

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

                                                                                        • Eric said:

                                                                                          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

                                                                                        • Thiago Santos said:

                                                                                          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

                                                                                          • I loved these, a fantastic level of knowledge.
                                                                                            Congratulations!

                                                                                            • To sell ebooks is very lucrative. Thanks.

                                                                                              • I really enjoyed the tips very good article

                                                                                                • Excellent post, I liked a lot. Success!

                                                                                                  • Dave said:

                                                                                                    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.

                                                                                                  • Anonymous said:

                                                                                                    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.

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