How To Sell Information Products? The Best Part Is That You Spend Effort Once And Earn Many Times Over. Learn Tricks Of The Trade Some Have Mastered.
If you are contemplating any kind of Internet-based business, or already are in such a business, chances are you will start creating and earning money from information products at some time. There’s no better low-cost, high-profit opportunity online than this.
At Solohacks Academy, our roundups usually pick topics that most people would consider a question that begets inspiring answers. On a topic like earning money from selling information products, we have found some people seem to have a special knack for getting dollars rolling in, while others wonder what the secret sauce is.
We thought it would be a great idea, and inspiration, to many online entrepreneurs, to give them a peek into the minds of those who have learned about success with information products after much research and trial-and-error.
Our picks for this Solohacks RoundUp include 10 great quotes from the blog posts of Brian Edmondsen, Winson Ng, Marcus Taylor, Cyn Meyer, Katie Parrott, Miles Beckler, Yuri Elkaim, Stefan James, Nathan Collier, and Angie Nelson.
1. To market your information products like a charm, the name of the game is electronic direct-response marketing: Brian Edmondsen
Brian Edmondsen in the article “How to Make Money Selling Information Products Online”:
In many ways, no matter how far we’ve come when it comes to technology and online selling… the same principles of marketing and consumer psychology hold true. The name of the game here is direct-response marketing. Back in the day, this was done with snail mail flyers, letters, magalogs, catalogs, and other printed material. Yes, so-called “junk mail.” But they wouldn’t send it out by the millions if it didn’t work. These days this sort of content is sent out electronically. And it still works like a charm to get customers to open their wallets.
The good news is that you don’t have to spend a ton of money when you engage in direct-response marketing online. Email marketing is a virtually free method to reach sell your products. And that will be the basis of your marketing efforts.
The basic idea is create a list of email subscribers. You send them both useful content — free valuable information related to your product/niche, as well as offers to buy products. Sending them the free content will speed up the process of them knowing, liking, and trusting you enough to buy your paid products. The novelty of buying stuff online wore off years ago and now people have a lot to choose from — you must give them a warm fuzzy feeling to be the one they buy from.
Yes, only a small percentage of people will actually respond. But that’s how direct response works. You should have enough prospects coming in that even a small percentage of conversions will result in a profit.”
2. To create and sell information products, get into the zone, stop appealing to the masses, and don’t be a one-hit wonder: Winson Ng
Winson Ng in the article “How To Make Passive Income By Selling Information Products”:
Get into the zone, stop appealing to the masses, and don’t be a one-hit wonder.
It’s never easy to come up with a product idea for your new information business. I’ve been through the process, even now and then I still keep searching and looking for new ideas. The next step will get more difficult when you have to build the confidence and jump in the production process. You might wonder would anyone even care to buy it?
The truth is, you’ll never know –with 100% certainty- how will the market react until you launch your product officially. Slowly but surely you’ll improve and get better by each product launch. My advice- start somewhere and improve along the way.
There’s a misconception that if you want to be successful in information business, you’ve to create a product that caters to the masses. Truth be told, the big money is in the small niche markets.
Instead of trying to sell to the masses, grab the attention of customers on a small profitable niche.
Don’t just stop once you have a small success with your product. You’re in for long-term business, you’ve to continue to create and replicate the success model.
Seriously, I think it’s more of a number game. Every product has its own life cycle. Don’t get obsessed with your product.”
3. Use marketing automation to increase CLV, optimise your sales funnel, and improve contact with customers: Marcus Taylor
Marcus Taylor in the article “7 Ways To Earn A Living Selling Ebooks, Courses & Information Products Online”:
I looked at 14 separate information product businesses that were generate close to or more than $1 million in annual revenue. Interestingly, there was one thing they all had in common: they all used either Ontraport or Infusionsoft.
So why is marketing automation software so valuable to information product businesses? Ultimately, it comes down to the ability to create birds-eye view sequences that target subscribers based on specific actions they take. In a nutshell, it enables personalised targeting on a mass-scale.
Let’s say you run a website about gardening and someone signs up for your free eBook on a beginner landscape gardening. Using automation software, that person can automatically be ‘funneled’ into receiving a sequence of emails that educate them on the more advanced landscape gardening techniques.
If they clicked through on an email upselling a premium product of yours, but they didn’t buy it within 7 days, you could automatically send them a time-limited discount or an email asking what prevented them from buying.
This hyper-segmentation is extremely powerful for information product companies, and can have a huge impact on increasing customer lifetime value and product conversion rates when implemented correctly.”
4. There’s limitless inventory with info products, which means sales potential is uncapped and order fulfillment is streamlined: Cyn Meyer
Cyn Meyer in the article “How To Sell Info Products Online And Generate Passive Income”:
Info products provide several benefits, but the most important benefit is the ability to productize your business so you can leverage your time and focus on growing your business.
This helps you avoid the pitfalls of entrepreneurial burnout, and once you ramp up to a well-oiled productizing machine, you can continue the growth by hiring a virtual assistant.
Ramping up with info products is easy-peasy, by the way, which brings me to the next biggest advantage of selling them. There’s limitless inventory with info products, which means your sales potential is uncapped and your order fulfillment process is streamlined.
In other words, by selling a digital product, you do all the legwork in advance and only need minimal maintenance — mainly marketing — on the backend. Once your product page is set up, your customers can purchase as many info products as they’d like without you having to fulfill orders manually.
Said another way, info products sidestep inventory issues like overselling a high-demand product and save you from potentially losing business when you can’t keep up.”
5. If an information product launches and no one knows about it, does it make a sale? The answer is NO: Katie Parrott
Katie Parrott in the article “Information Product Marketing: How We Sell $1 Million Worth Of Information Products Online”:
Information products may be the most accessible online business option out there. But there’s one thing they have in common with their physical product and app cousins: If you want people to find your product and buy it, you’re going to need to market it.
If an information product launches and no one knows about it, does it make a sale? The answer is no.
Marketing is how you make that happen. And no, you don’t have to resort to skeezy used car salesman–type tactics to do it.
Your chances of reaching a destination increase if you know where you’re trying to get to in the first place. With information product marketing, that means knowing the answers to three core questions:
- What am I trying to accomplish?
- What is the ideal experience that I want for my customers?
- What kind of resources do I have at my disposal to make that happen?
It takes a lot of time and a lot of trust to get people to the point where they’re ready to say, “Okay, I want the results that you describe in this sales page, and based on my interactions with you so far, I trust that you can help me get them. Here’s $500.” Our marketing strategy accounts for that.”
6. Selling information products via content marketing is one of the best online businesses to start with no money: Miles Beckler
Miles Beckler in the article “$1.15 Million+ Later | Here’s How to Create and Sell Information Products”:
Selling information products via content marketing is one of the best online businesses to start with no money. You can build and host a WordPress website for your information product business for about $60 a year. We couldn’t afford paid advertising, so our only route was content marketing and selling online courses from our website that carried no cost. We would make excellent content based on popular keyword searches like, how do I meditate, what does meditation do to me, and so on.
The information seeker would find our content, read it, then while they are on our website we offered them free meditations via a popup. A very successful lead generating machine that has generated us 178,632 leads in the past 22 months!
Melanie, my wife and business partner, was posting each day. Writing our nice long posts and using Google’s keyword tool which was before you needed to find a Google keyword tool alternative, to make sure her writings had search phrases in the titles and content. We relied on the old Google tool to choose keywords and keyphrases that our content was based upon which helped our website get a high probability of coming up on search results whenever users were searching for those keywords.
For the first two to three years in our entrepreneurial endeavor, we were doing content marketing, all organically. Free traffic, as people would call it. What wasn’t free was all the time spent on doing the keyword research, creating content, spending time to learn SEO and optimizing our posts for search engine marketing. You either got time or money. Rarely will it be both …”
7. Most people only have one sales page for their product, but it would make more sense if you had maybe two or three variations: Yuri Elkaim
Yuri Elkaim in the article “9 Overlooked Steps to (Successfully) Selling Information Products Online”:
I’m going to suggest something here that very few businesses ever consider. It’s not mandatory but strongly recommended over time. Here’s why: Most people only have one sales page for their product. But what if someone saw that page and didn’t buy the product?
Would you direct them back to that same page every single time? Wouldn’t it make more sense if you had maybe two or three variations of the offer page to offer people based on where they are in your sales cycle?
If they saw the page the first time and didn’t buy, perhaps the next time you presented the offer to them (from a retargeting ad or via email) they would see a slightly different variation that meets them where they’re at in the buying cycle.
By doing so, you’re basically saying (not in these exact words), “Hey, you saw the offer. Just thought you may want to know this as well,” offering a different angle in a more condensed format, that’s a little bit more to the point.
And then maybe the third time they see your offer, it’s more about overcoming objections. “Hey, listen. We understand that you’re tight on time, and you think these workouts shouldn’t take forever. Here’s what other people had to say.”
And then you’d litter the page with social proof to overcome those objections. You can also look at creating a video sales letter as well as a text sales page. Maybe you have a webinar. These are what I call different marketing assets.
Think about it like an octopus: your product is in the middle, and all the tentacles of the octopus are your different marketing assets, your video sales letter, your text sales page, your webinar.”
8. Your followers will tell you what they want … after that, the only thing you need to do is give them what they want: Stefan James
Stefan James in the article “How To Create Top-Selling Information Products”:
I’ve learned that it’s not what I think everyone wants, it’s what they actually want is what is important. I learned to actually survey my list of followers and visitors to find out exactly what they want (not what I think they want) and then to give that to them! That’s all marketing really is: meeting needs and solving peoples problems at a profit.
I created a blog first and got into the home remedy niche. I ended up hiring writers to write all of the content on this blog and focused on search engine optimization. Within a few months, I was able to have this blog getting over 100 visitors per day. With those visitors, I then got them to subscribe to a newsletter and began building an e-mail list. I then did one of the most important steps… I surveyed them.
Your followers will tell you everything you need to know. They will tell you what they want. After that, the only thing you need to do is then give them what they want.
Pretty simple, right? Your followers have now told you their goals, needs, challenges, and frustrations. This is gold, as you now just have to create a product and sales letter that covers all of this for them. They even gave you the language and magic words to use to better communicate with them. They’ve told you whether or not they’d be interested in this product, what they want in it, and how much they’d pay. Now you just have to give that to them.
Since following this formula, I’ve had success with every product that I’ve created. I ended up launching 6 products on Clickbank in the home remedy niche and this is what made me financially free at 24 years old. I was making thousands every month and it was the “real” beginning of my internet marketing career.”
9. When you have an info product for sale, people will automatically assume you’re an expert … this is a great positioning tactic: Nathan Collier
Nathan Collier in the article “13 Remarkable Ways to Profit from Info Products (Especially if You Already Have a Business)”:
Some of you reading this don’t believe me. You’re not convinced that you could create, sell, and profit from information products online. To you I say—I understand where you’re coming from.
The first information product I made was a little one-hour video training for marketing writers. I knew what I had would help them. I knew I could create and deliver the content. I knew people would like both the product and the result they’d get from the training. But actually asking people to pay me money for it? Yes, it was terrifying.
Funny thing though … the experience opened my eyes. There were many, many benefits to the process of creating and selling that training. Benefits that went far beyond the money I made selling it.
When you have an info product for sale, people will automatically assume you’re an expert. This is ar great positioning tactic for freelancers and consultants. Sometimes it’s not easy to gain the respect and trust of new clients. But if you have info products for sale, it’s much more likely the client will view you as an expert, not just a contractor.
Some coaches and consultants draw their entire customer base from lists of people who’ve purchased info products from them. It’s a natural step. If a customer has already purchased an info product for you, it means you have their trust. A high-ticket coaching or consulting program is much easier to sell to this kind of audience than to cold traffic.”
10. There are riches in the niches … customers across the board are looking for simplified solutions they can implement right away: Angie Nelson
Angie Nelson in the article “5 Tips for Email Marketing for eCommerce: How to Grow Your List and Make More Sales”:
What’s best? Regardless of what anyone says, there is no cut-and-dry path to success. In many cases, it’s about what you are least uncomfortable with and willing to try (first). If that’s a book, write a book. If you are ready for a course, create a course. What’s most important is that you do your market research, put out a great product and market it accordingly. Products are no different than any other business venture. You can’t just cross your fingers and hope for the best. You have to put in the work. But it’s worth it!
Nothing ventured nothing gained.
My first step in product creation is always to see what else is out there. Are other bloggers in your industry creating books or courses? What topics are they covering? Do you see any holes in content? Is there anything you could cover better? Also, take note of what price point they are using.
The market is currently focused on digital products regardless of your industry. (No. Not only people who talk about making money blogging are making money. Avocadu.com makes over $40,000 per month selling info products related to weight loss and healthy eating. Almost 1,600 people have enrolled in this cake decorating course on Udemy for $19.99. Pixie Faire has sold over 2 million doll clothes patterns! As of 2013, Problogger had earned over $30 million(!) in eBook sales on his blogging and digital photography sites.
There are riches in the niches. Customers across the board are looking for simplified solutions they can implement right away. That’s where you come in!”
So What Are Your Thoughts? Do Share!
This post is incomplete without your input. The community of Knowledge Commerce solopreneurs would feel galvanized to hear from you … so do share your thoughts on this topic with us, in the comments field below this post.
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