Putting up a business that creates and sells information products is not easy. You will need to consider all the aspects of your product from data collection to sales and management.
This article will serve as your guide as you walk you through all the essential processes of creating and selling these products. It will be helpful for you especially if you are doing things from scratch.
Classifying Your Information Product
The first decision that you have to make is to determine the type of product that you want to produce. There are various types of information products. Here is a list of the most popular information products available today. Just select one that would best suit your style or preference. You should also consider your funds and resources when deciding.
- Video Trainings
- Audio Trainings
- Membership Sites
- Live Trainings
- CD and DVD Packages
Increasing the Value of Your Information Product
The most essential aspect of your information product is its value to your clients or prospective customers. Your information product should meet the needs, requirements and desires of your target market. It should also be relevant and timely so that you can ensure long-term profits.
Here are ways on how you can increase the value of your information product. In your research, ask questions on how people would feel about your product. You can also inquire about the likely price they would pay for the product and the possible expectations that customers would draw upon purchase.
- Forum Research – Forums are niche-oriented. This means that you will likely obtain information and opinions from people belonging to your target niche.
- Social Media Research – Using social media, your research results would be diverse. However, you can use it especially if your target market is into social networking and online media.
- Market Research – Doing this research would be the most effective for you. It is focused on your specific target market and it is asks detailed questions related to your product.
- Survey Lists – Doing surveys works similar to market research. Online businesses today prefer to use this service since the information is easier to obtain with the help of a third-party surveyor.
Selecting Methods and Resources
Developing information products can be taxing especially if you do not have a systematic technique or method when organizing and collecting your information. Here are some of the common ways that you may want to use if you still do not have one in mind.
- Organize information using the Brain Dump Technique. – This way works well especially if you already have knowledge on the topic. To make the process easier, you may have to rely on mind-mapping applications like Mindmanager or Freemind.
- Hire or interview an expert or authority on the topic discussed. – Sometimes, the best resource is an expert or authority on the topic. Set up an interview with them to collect reliable information.
- Discuss own knowledge on the subject matter. – This is the easiest method is you are an expert or an authority on the topic yourself.
- Hire a ghostwriter who will write for you. – Most ghostwriters would do their own research. This will lessen your tasks on information gathering.