Making Money with Information Products: 6 Steps for New Infopreneurs

by Chuck
(MD)

What is the key to making money with information products? For the purpose of this article, I will focus on creating and selling your own information products. In case you don’t already know this, the information marketing industry is a multi-billion dollar industry. That means there is plenty of opportunity to make money as an infopreneur.

But how do you actually make money as an infopreneur? Listed below, you will find my six key steps to making money with information products. Let’s get started.

1. Determine Your Target Market: The most common mistake of authors and new infopreneurs is that they create an information product BEFORE they determine who they will sell it to. Don’t make that commons mistake. Do your research first and find an audience that is hungry for information. Once you choose a potential target market, find out what they are buying and what they want to buy. This information is collected from surveying potential customers. Once you are crystal clear about who you will sell your products to, you can move to the next step.

2. Determine Your marketing Strategy: There are many ways to sell different information products. You can use pay-per-click advertising, newspaper ads, magazine ads or direct mail. If you are just getting started, it’s best to choose one of these methods. Knowing what I know now, I would focus exclusively on pay-per-click advertising. Once you choose a strategy, you should buy a few educational books to teach you more about the best way to utilize that strategy.

3. Write Your Sales Copy: Once you know which type of product you will create and how you will sell it, your next step is to write the sales copy for your information product. This sales copy will appear on your one-page website. You must do this before you create the product. This process typically takes 2-3 weeks to start, edit and finish.

4. Create the Product: At this point, you need to create your information product. You must first choose the format. You could choose seminars, webinars, DVDs, audios, manuals, eBooks, etc. In my opinion, it’s much easier to create a video or host a webinar, than it is to write a book or manual. You could also host a seminar, record it, and then create DVDs. Or you could hire someone to convert your seminar into an eBook, via transcription. Another common mistake of infopreneurs is to be perfectionist. Don’t do that. Don’t waste weeks or months trying to make your information product perfect. Good is good enough.

5. Market Your Product: This is the next step in the process. At this point, your information product is finished and you are ready to sell it. Your key to success is to split-test, evaluate and tweak your advertising campaign every day. Find out what’s working and what isn’t. Study your key metrics every day. Make small improvements to your ads, etc.

6. Collect Leads: Don’t forget to collect leads. On your sales page, you need an opt-in form for people to give you their name and email. Your job is to follow up with people with your auto-responder. Most people won’t buy your product the first time they visit your website, but they will eventually buy your products if you keep in touch with them.

In conclusion, we just covered the six steps to making money with information products. Most people do the complete opposite and create the product first. That’s the worst thing you can do. You need to do your homework first and follow the steps outlined in this article if you want to succeed at making money with information products. I hope that helps.