Making Money with Information Products: Seven Steps to Infopreneuring Success

by Chuck
(MD)

What is the key to making money with information products? If I had to define your key to success, I would break it down into the following seven steps.

1. Promote or Create a Quality Information Product: Don't promote a crappy product. Find (or create) a product with great information and real value.

2. Don't Promote a Low-Cost Information Product: Don't make the common mistake of promoting a $10 or $20 information product. When you do that, you don't leave yourself any room for profit. At a minimum, you should earn $40 to $50 profit (preferably more) per sale. That way, you can properly market and advertise your product and still earn a profit.

3. Determine your Ideal Customer: Before you spend even one penny on advertising, make sure you spend some time to determine your ideal customer. Once you know your ideal customer, make a list of venues to advertise in (i.e. newspaper, magazine, internet, ezines, etc.).

4. Market and Advertise to your Ideal Customer: Your next step to success is to market your product. As you generate sales, keep notes on what forms of advertising are generating the most profits. Never think advertising cost. Instead, think of "return on investment." That's what is most important.

5. Test Your Results: Always test your results. This is frequently known as split testing. That means that you test your ad, your headline, the color of your website, your offer, etc. If you don't test, you won't know what works. Sometimes a small change can lead to huge improvements.

6. Build a List: As you are marketing your information product, you need to build a list. That means that you need to capture names and emails (possibly more) of each person who visits your website. The best way to do that is to add an opt-in box to your website and offer a free report (or free chapter of the information product).

7. Follow Up with Your List: Most people who visit your website won't purchase your information product right away, but many of these people will give you their contact information. Your key to success is to build a relationship with your list. When this happens, many of your leads will eventually become customers; when the timing is right.

What we just covered are my seven steps to making money with information products. Please know that it isn't rocket science. Your key to success is to formulate a game-plan, get started, make small improvements and never quit. If you can do that, you will succeed.