How To Create Multiple Streams of Online Income E-Course
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Part 5. How To Create Your Own Info Product
In Part 4 we talked about why informational products are the best
type of products to sell online.
An informational product can be a digital book (known as an e-
book), a digital report or a white paper, a piece of software,
audio or video files, a web site, an ezine (electronic magazine),
or a newsletter.
Any product that's informational, instructional, or educational
in nature can be considered an info product.
If you missed last week's column you might want to un-line your
birdcage long enough to read it first so that you have a thorough
understanding of what we'll be discussing this week, which is how
to create your own info product.
As covered in detail yesterday, here are a few of the reasons why
information is the best product to sell online:
- It's fast to create, fast to market
- There's no inventory to stock
- The startup costs are low
- You can automate the sales and delivery process
- There are no shipping and handling charges
One of the best things about information products is that you
don't need a product designer or a manufacturing plant to crank
out the goods. You also don't have to spend months and months
doing product development.
If you have a computer and a word processing program you have
everything you need to create a best-selling info product in a
very short amount of time.
Great, you say, but I'm no writer. How the heck can I get into
the information business? The good news is you don't have to be
a
great writer to create a great info product.
If you don't have the ability to create the product yourself
there are several avenues you can take to info product success.
CO-AUTHOR WITH A WRITER
In my opinion, expert knowledge is much harder to come by than
great writing skills. If you are an expert on a subject that
people will pay to learn about, you just need a good writer to
take your expert knowledge and put it in a saleable form.
I know many subject matter experts who can't write their names
in
the snow and many excellent writers who don't have the expert
knowledge required to create an informational product that will
sell. Co-authoring can be a match made in Heaven if an equitable
co-authoring arrangement can be made. Co-authoring means that you
both get credit for creating the product and share in the
revenues.
If you are an expert on a topic, but not a writer, find a writer
to co-author the project with you. Conversely, if you're a writer
without specific knowledge, find a subject matter expert and
partner with them to create the product.
HIRE A GHOST WRITER
A ghost writer is someone who will write the ebook for you
anonymously, with the writing credits going solely to you. You
supply the expertise and guidance and the ghost writer puts it in
a readable format. You can hire ghost writers on an hourly basis
or for a flat fee, depending on the scope of the project.
There is no shame in using a ghost writer to put your thoughts
to
digital paper. You don't really think all those pro athletes and
Hollywood actresses can write 300 page books now, do you?
PUBLISH A DIRECTORY
Can't think of a subject that you're qualified to write about?
Try compiling a directory. A directory is nothing more than a
listing of specialized information that you target market to a
particular segment of the buying public. For example, my company
publishes a dropship and wholesale industry directory that is a
listing of company names, addresses, phone numbers, and website
addresses. I simply have someone research the industry and
compile their findings in a directory format, package it nicely,
and sell it online for $27.
Sign on with an affiliate program and sell their info products
There are thousands of companies that sell informational products
and most have affiliate programs that you can sign on with.
Becoming an affiliate basically means you become a reseller of
the company's products. You promote the product, you make the
sale, the company delivers the product, and you earn a
commission.
The key to creating a successful info product is this: the
information must be worth far more than the price of the ebook
itself. If you're charging $27 for your product, it must give the
buyer many times that price in perceived value.
I asked info product expert Jim Edwards, co-Author of "How
To
Write and Publish Your Own eBook in as little a 7 Days" for
his
advice on how to create a killer info product.
Here are Jim's Top 5 Tips:
NICHE IT
Make sure you are targeting a highly defined niche audience...
don't try to sell to everyone. You can get a lot more money
showing life insurance agents how to find more customers to buy
$250,000 policies than you can trying to sell a product on
generic sales skills improvement.
HIT THEIR PAIN
Make sure your info product hits a painful problem that members
of your target audience will do just about ANYTHING to solve. The
more intense the pain, the more they're willing to pay to get rid
of it.
GIVE THEM A TASTE
Give people a taste of what you offer in your info-product by
giving them a sample. Just like the wholesale clubs get you to
buy tater-tots in a 50 lb. bag by giving you one to try, you can
induce people to buy your information by letting them read the
first chapter or listen to the first few minutes of an audio.
ENTERTAIN THEM
People hate to be bored. Increase the power of your product by
adding humor, drama and other entertainment elements that make
them want more and more. This will not only help with future
sales to satisfied customers, it will also keep your refunds down
and increase word of mouth advertising.
KEEP IT EVERGREEN
Don't make the mistake of creating a product that hits a fad or
a
fleeting market. Create info-products that can be updated with
very little effort. This allows you to create a product once and
keep the sales rolling in for years (literally) to come!
If you're excited about creating your own ebook, but need more
information on the process, you're in luck because I just
published a brand new book called:
eBook Secrets Revealed: An Insider's Guide To Writing and
Publishing Your Own Profitable Ebook."
Check
it out now
Here's a sneak peak at what I cover:
- How to research your eBook, with advice on methods that work,
and those that don’t
- How to find killer topics for your eBooks that people will be
eager to buy
- The most popular eBook format-and how to follow it to maximize
sales
- How to find outstanding professional help with writing your
eBook, for those who hate to write, are too busy, or just plain
can’t
- Getting the right start: how the pros outline their eBook
before they write the first word!
- Tips on choosing the best title for maximum appeal
- Why the cover can be the most important part of your eBook-and
how to make sure it’s really, really good!
- What makes self-publishing and marketing your own eBook the
fastest, easiest, and most cost-effective method of increasing
your income available today.
- Why people buy eBooks-and the topics they want to learn about.
- How to create a best seller, even if you can't write worth a
squat!
- The best methods for promoting your eBook-and where to promote
it.
- The secret of getting others to promote your book (get them
to
sell for you, while you sit back and earn).
- How to generate passive income from your eBook-and why it's
important.
- How to automate ordering, payment, and downloading your eBook.
You won't have to do any of the work with this innovative system.
- Tons
more...
Check
it out now
In Part 6 we'll look at how starting an eBay business can really
add to your streams of online income.
Click here to proceed
to Part 6 : How To Start A Successful Ebay Business
