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From Entrepreneur to Infopreneur: Make
Money Selling Info Products
By Stephanie Chandler
The term “Infopreneur” is a
relatively new industry buzz word that is making waves
because it opens doors for entrepreneurs to generate new
streams of income. Simply put, an infopreneur sells
information.
Information products are offered in a variety of formats
including books, e-books, special reports, audio
formats, videos, workbooks, tips booklets, and virtually
any method in which you can deliver information. Whether
you want to launch a new business or add new revenue
streams to your existing business, opportunities abound
for info product sales.
Benefits of Info Products
Perhaps one of the greatest
advantages of info products is that once they are
created and the distribution process automated, they can
sell round the clock with minimal effort. And it doesn’t
end there. Many infopreneurs have discovered hidden
benefits of selling their product creations.
For example, authors can treat
their books like business cards, using them to open
doors to new business opportunities. A book gives you
more credibility and makes you more interesting to the
media. With the right spin on your topic, media exposure
could bring a windfall of new business. Just look at any
author who has made it onto the Today Show or Oprah.
Even an article in a local newspaper can prompt hundreds
of readers to buy your book.
As you add more info products to
your line, you spin a web of opportunity. Each product
may appeal to each customer differently. Some may buy
one product, others may buy another product, and
ideally, most customers will return to purchase multiple
products.
Giveaways are another fantastic use
for info products. For example, you can reward new
subscribers to your e-zine by giving away an e-book or
special report. Or you could send your e-book to other
business owners and allow them to distribute it for
free, provided all of your contact information remains
intact. This strategy will ultimately bring you new
customers and that all important exposure to your
audience.
Developing Product Ideas
Everybody is an expert at
something. If you run a successful business, that makes
you an expert in your industry. You could also
capitalize on your expertise with a hobby, sport, or
other special skill. Here are some tips for discovering
product ideas:
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Conduct a survey with your customers and
ask them what information they need or would like to
know. |
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Teach people how to do something.
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Create a directory. Do you have a list of
50 or more resources that people in your industry need?
Sell it! |
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Read books from your field of interest. Is
there a book that covers an important piece of
information in one chapter that deserves to be expanded
upon? Could you write a whole book or a special report
about that topic? |
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Make a list of potential guests that you
can interview and host teleseminars. You could charge
for the seminars, or offer them for free and sell the
recordings. |
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Teach classes at your local adult learning
center or become a professional public speaker. You can
sell your info products at the back of the room and also
sell recordings of your live presentations.
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Produce a video of a demonstration,
speech, or technique. |
Keys to Info Product Success
In order to convince customers to
get out the credit card and make a purchase, you need to
follow a basic formula for success:
Credibility: Demonstrate any
credentials that you have in your field. This is not the
time to be shy. Publicize your education, experience,
awards, or achievements in the area that you specialize.
Strangers are not going to buy from you unless you can
demonstrate your ability to deliver on your promises.
Quality: There are plenty of
information products out there and some are downright
lousy. Make sure that whatever you produce is of the
highest quality. All products should be professionally
edited.
Value: There is a fine balance when
determining the price of products. Too many infopreneurs
price their products out of the ballpark. Check to see
how your competitors are pricing their products. Some
price products higher to demonstrate the extreme value
of the information they are selling. If you use this
strategy, be sure you are delivering information that is
worth its weight at checkout.
Delivery: With electronic products
such as e-books and reports, customers who purchase want
instant gratification. Though you can manually e-mail
electronic products once a sale is completed, it’s best
to set up a system to automate the delivery process. An
added advantage of automation is that you won’t have to
constantly check e-mail for sales notifications and you
can actually make money and deliver products while you
sleep.
Strategies for Promoting Info Products
No business can survive without
marketing. You need to let people know you are there so
you can entice them into buying from you. A solid
marketing plan is essential to success with info
products.
The first place to begin is with a
website. A website can reach a potential customer base
that spans the globe. Your own website allows you to
establish your credibility, build a database of site
visitors, and promote and sell your products directly.
Following are additional tactics for getting the word
out:
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Conduct public speaking engagements
(including workshops, seminars, and classes). Seminar
speaking experience helps you earn credibility while
gaining valuable exposure and experience.
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Hold teleconferences to share information.
Ask peers to announce your events in their e-zines or on
their website. Even if you aren’t selling your product
up front, you are exposing people to your products.
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Distribute a newsletter or e-zine. This is
an inexpensive yet valuable way to market to your
customers. |
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Up-sell and promote additional products
when someone makes a purchase. Include a brochure about
your other products when you ship an item or offer the
buyer a special discount on a related product at the
time of purchase. |
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Establish yourself as an expert in your
field by being seen and heard everywhere. Participate in
interviews, publish articles in print and online, and
seize every possible opportunity to get your name out
there. |
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Take advantage of media exposure. Radio is
an inexpensive way to reach a lot of people in a short
amount of time. Many talk radio programs accept experts
through call-in format. If your topic is interesting
enough to reach a broad range of listeners, you could go
on a radio tour right from the comfort of your own home.
Print publicity is also beneficial. Find news angles for
your topic and contact newspaper, magazine, and TV
reporters. |
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Create an affiliate program. Offer other
businesses the opportunity to sell your products and pay
them a percentage of each sale. |
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Swap advertising with websites and e-zines
that reach your target market. |
As you
develop a plan to generate and sell your own info
products, take notice of how others are doing it
successfully. Purchase some products from business
owners that you admire so you can evaluate the content.
While you should never steal from your competition, it
is certainly acceptable to emulate their success. Soon
you could be generating income while you sleep.
For
additional resources on developing an infopreneur
business, visit
www.BusinessInfoGuide.com/infopreneur.htm.
About the Author:
Stephanie Chandler is an author of several business and marketing books
including “The Author’s Guide to Building an Online
Platform: Leveraging the Internet to Sell More Books” and “From Entrepreneur to Infopreneur:
Make Money with Books, eBooks and Information Products.” She is
also founder and CEO of
http://AuthorityPublishing.com, which
specializes in custom publishing and internet marketing
services, and
http://BusinessInfoGuide.com, a directory of
resources for entrepreneurs.
For author and speaker details, visit
http://StephanieChandler.com.
*This article can be reprinted
provided the author bio is included.
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INFOPRENEUR ~ INFORMATION PRODUCTS ~ EBOOKS ~ BECOME AN
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