Information Products As a Marketing Tool

Why do information products work so well as a marketing tool?

First of all, one of the main reasons people search the internet (consistently in the top three in studies) is they are looking for information. The internet is a convenient research tool, whether you are looking for a recipe, a neighbor’s property tax records, how to build a solar collector or how to start your own country. You can find anything on the internet – if you know where and how to look.

But, the internet has its inefficiencies. Because of the sheer volume of information that is available, it is often difficult to find the specific information you are searching for. Sometimes you find pieces of the information you need, but not the whole picture and usually not all in one place. In addition, much of the information is undocumented or comes from questionable sources.

The value of an these products is it gives people what they want – the information they are looking for, explained in a way they can put to use, all in one place.

It also gives the marketer what he/she needs: a chance to display his knowledge and capabilities to an interested, targeted market. A special report, ebook or guide provides credibility to the author, sets that person up as an expert in that particular topic and sets them apart from their competition.

People learn in various ways – some learn better by reading, some by listening and some by doing. Information can be conveyed in any of those various forms. Better yet, putting the information in various formats helps people learn in the way that’s easiest for them.

Last, but not least, information products are cheap to produce. In downloadable form, they cost nothing. CDs and DVDs can be produced for a dollar or two. Books can be printed, one at a time, for about $8.00. So, as a giveaway or a promotion, an information product’s no to low cost is perfect. As a marketed product, the profit margins can be incredible.

Businesses have been using information products as a sales tool for decades. Remember sending a self-addressed, stamped envelope to get a special report or a recipe collection? The online equivalent is asking people to input their name and email address and giving them access to a downloadable report, a monthly newsletter or an ebook.

Whether you are using information as a product to sell in itself or as a list-building tool or a way to warm up the relationship with your clients and prospects, from bricks and sticks to point and click, information products are an all-around winner.

How To Price Your Information Products

In this article I am going to talk about how to price your information products and why it is important that you understand this before you create your sales letter and put your price on it.

One of the biggest mistakes that people can make is to price their product based on what the competition is doing. If you do this you can actually begin to devalue your own products. After all if you create a premium product then you should really be able to put a premium price to that product.

Not only that, but if you price your products too low then quality becomes questionable. People will see your price and wonder whether your product actually will deliver what you promised in your sales letter and are likely to not bother making that purchase.

So how can you make sure that you are pricing your information product correctly so that you are giving it a price that demonstrates a high quality product but also a price that is affordable to your market?

When you create an information product you are creating a solution to a problem. If you think about it, before someone goes online to search for something they first have a need that they need to solve. Therefore they begin to search for something that will solve their need.

So when you create a product that provides the solution to a specific need you should base the price of your product on how much it would be worth to someone to have that need met. In other words, your price should be based upon the results that someone would get by putting into practice what you have described in your product.

So think about the various needs that someone might have that your product solves. What kind of results would they see if they purchase your product and implemented everything? In monetary terms what would it be worth to them to get those results?

This is the price of what your product is actually worth and therefore this should be your starting point when thinking about pricing your product.

You can then add a discount or provide a special offer to make it more affordable but you need to make it clear to potential customers exactly what your product is worth to them.

If you don’t make it clear what your product is actually worth then when you do provide a discount it becomes meaningless because there is nothing to base it on.

How to Market Information Products

Information products are very popular in the world of internet marketing. They have virtually no production costs, as they only require the time needed to research and write the article. They can be outsourced for an incredibly small cost, though, if you’re not capable of creating one on your own.

They’re also appropriate for just about every niche you can imagine. You can create a recipe book, a guide to beating a video game, or even a system that is designed to help people win the lottery. As long as there is someone eager to learn the information that your information product will provide it’s possible to profit from it.

But creating them is the easy part. Marketing them is the hard part. In this guide, you’ll learn a few things that will help you create the most profitable information products you can imagine.

The Most Profitable Types of Information Products

There are two aspects to consider when determining how profitable an information product will be. The first is whether or not you actually have a viable market. If you’re sure that there are people out there who are willing to buy what you’ll create, then you have nothing to worry about. But if you’re hoping to create an information product without already having selected a niche, it can be a lot more challenging.

The three most profitable niches of all time are:

  1. Making money
  2. Health and fitness
  3. Romance and dating

By picking one of these niches you’re absolutely guaranteed to have a large potential market. You can also be relatively sure that your product will be saleable for years to come – if not indefinitely.

The second aspect is promoting a system or solution instead of just an “information product.” No one is going to buy a book called “Everything About Yeast Infections.” But if you put together “The Seven Day System to Eliminating Yeast Infections,” or “The Diet Solution That Prevents Yeast Infections Forever,” you’re going to make a bunch of sales.

Always frame your information product in terms of a system or solution.

Finding and a Niche and Marketing to Them

As stated above, there are some popular niches you can focus on if you don’t already have one of your own. But how do you actually put your product in front of those interested in your niche once you’ve selected it? The answer is actually relatively simple – use forums, chat rooms, message boards, and social networking sites.

While it might be difficult to find someone discussing a private problem on a social networking site, you can be sure that they’ll turn to forums and chat rooms to do so. The anonymity makes it completely risk free. By joining and participating in these communities you can generate traffic and interest in your product.

Converting Your Prospects into Customers

Again, the importance of presenting your product as a system or solution can’t be overstated. Whenever you discuss your information product be sure to discuss it in terms of the solution it provides. Alternatively, refer to it as “my system” or “the system.”

You see, people are eager to purchase something that will actually solve their problems. A book isn’t generally something people see as a solution to their problem. A book that describes a step-by-step process is, though. When you refer to your information product as a solution or system you’re indicating that it will solve their problems, thereby helping you convert more prospects into customers.

Earning on the Back End

There is something known as a onetime offer, or OTO. These are products that are offered to your customer while they’re completing the purchase of the primary product. If you can create or find products that may also be of interest to your target market, you can create an additional source of revenue.

What you’ll want to do, though, is make sure to discount the price of the onetime offer or bundle several different information products together. For both ethical and legal reasons you will have to ensure that it truly is a onetime offer, though. If you don’t you could face legal penalties and you’ll be seen as dishonest in the community.

Think of the onetime offer as a value meal at McDonalds. You can purchase it all together at a discounted price. But once you checkout you can’t come back and get your drink and fries at the lower rate unless you buy the burger again.

Information Product Creation 101 – 3 Steps To Creating A Top Selling Information Product

Step 1 – Research And Find A Hot Topic

You can’t do anything until you find a hot topic to create your information product about. Two great places to do research and find out what’s out are Amazon and Clickbank. Find out which books and information products are currently hot sellers. This will give you an idea of what niche you should go into. These top sellers are the products that are your competition so to speak.

You want to create a product that is better then the top sellers. You might need to purchase a copy of the two best selling books and e-books. Read over them and see what all they have covered. Your objective is to find out what’s missing from those products so you can improve upon them. By covering what’s missing you can ensure your product is better then there’s.

Step 2 – Draw Up An Outline And Create The Product

Before you start typing up your product it is a good idea to create an outline. The outline should have each topic you will cover in your information product. The chapters and the information that will be in those chapters. By creating an outline you will make it a lot easier to put the product together.

In your outline you should try to write out at least 3 sub topics you can cover in each chapter. Once you have the outline completed you can just go down the list and fill in the information. By the time you get to the end of the outline you should have a top selling information product on your hands.

Step 3 – Start Marketing The Product

Once you have your information product complete its time to start marketing the product. The first step in marketing your product is setting up a salespage. The salespage is what will sell the product to your potential customers. Make sure your salespage is professionally written. The words on your salespage are what will either push potential customers towards a purchase or push them away.

When you are marketing your new information product make sure you are aggressive. If you will be using article marketing make it a point to write hundreds of articles. If you will be doing video marketing create hundreds of videos. When it boils down to it, the more links you have pointing to your site the more sells you will be able to make. You can’t go into thinking that just because you build it they will come. It never works that way. It is your responsibility to create buzz and interest in your product.

If you follow these 3 steps you will have your own information product created and making money for you in no time at all. Just know that it will take a lot of work to make it happen. But if you put in the time and effort you will reap the rewards.