Making Money With Information Products
Profit Puppy Ecourse No.8
Making money with information products
-Guys, this is one of the most powerful business strategies on the internet!-
So have you ever thought about becoming an infopreneur
Info marketing is a multi-million dollar industry which is still open to just about anyone with a good idea. Theres the potential to earn a six figure income from selling your own tapes, ebooks, videos, reports, CDs, ezines and DVDS to name a few.
I actually know a few people who are making millions a year through home-based operations and a few others who have been able to subsidize their incomes from low risk business ideas. In most cases, all it took was some good market research and the get up and go to actually put the information product together.
Believe it or not, thats the biggest obstacle to overcome when putting together an ebook or DVD product is actually having the motivation to get started - its not as hard as it sounds!
The most common, and usually the most successful information products are e-books, audio cd / tapes and increasingly, DVDs. Well take a look at each of these categories below:
Writing a successful ebook
You really have 2 options here. You can develop the content of the e-book yourself, or you can get someone to do it for you. Theres a few other ways you can go about creating an e-book, for instance, obtaining the rights to an out of print book, but these methods and considerably more complex and dont offer any guarantees.
If youre a semi-confident writer, my advice would be to try and write the book yourself. A good way to start is to write about something that you are interested in spend 15 minutes a day putting down your ideas, if you find you are struggling, do your best to outline your ideas and then investigate the possibility of hiring a writer to research and draft the remainder of your ebook.
There are loads of good writers around who will put together polished and concise copy for around 10 cents per word. Take a look at http://www.profitpuppy.com/freelance-sites.htm for more information about finding a freelance writer.
Some writers expect up to $175 US an hour for their services, although thanks to the internet, its not impossible to find a reasonably talented scribe for around 10 cents per word. Its important that you are clear in what you want to achieve when advertising a project so that you attract someone who is suited to the project. If you dont have any luck with Elance or Freelance Writers, you could also try posting to Yahoo Groups or approaching people at your local uni.
Its important to remember that your reader probably wont be too concerned about your command of the English language - just make sure you clearly explain your concepts and ideas especially if you are writing a how-to style ebook. For more information about writing and marketing e-books, visit http://www.profitpuppy.com/writing-and-selling-ebooks.htm where you will find a number of valuable resources.
Audio CDs and Tapes
If you dont fancy yourself as a writer whatsoever, another option you have is to create and audio tape or CD. Its not as expensive as you might think, and audio products still have great appeal for buyers.
While DVDs and Videos have become easier to create, tapes and CDs are still the mainstay of the information product world. The reason of this is that media savvy buyers arent enticed by the often amateurish production qualities of video or DVD info products. Another advantage of tapes and CDs is that you can listen to them anywhere, for example in your car on the way to work.
To produce a CD or Tape of reasonable quality, you are going to need to purchase or hire the necessary equipment. If you can afford to buy some studio time, its worthwhile, but if you just starting out, its an undue expense that you can avoid. Your local electronics store should be able to arm you with a noise reducing microphone and some high quality audio tapes although you could record your to your computer first. You can expect to pay around $50 - $80 all up. You dont need expensive equipment to get started, although you may have to upgrade if as you go along
Assuming that youve researched you topic and target market properly, you can now start working on your information product, which should give some step-by-step advice on how to overcome a particular problem or achieve a particular goal theres more about picking your topic below. Just remember that when you start recording you deliver the essence of your experience or research in an entertaining and concise way. If you are producing an instructional CD or tape, a simplified and bare bones approach is often best. Come up with steps that will help your customers achieve their desired goal/s.
When youre ready to go, shut off the phones and start recording its also a good idea to have a script in front of you. Record your tape in less than 60 minutes. Play it to your friends, make any changes you think might be worthwhile based on their advice. When youre happy with the final product, create some duplicates or get someone to do it for you and then start selling your product on the Internet Its that easy!
Making your own DVD information product
If you think your idea is an exceptional one, or something that could work better visually, then you might consider producing your own DVD of Special Interest Video SIVs. This type of information product often referred to as Guerilla Video is becoming more popular as the required production technology becomes more accessible. Anyone with a DVC, a computer and some editing software can now make fairly professional looking DVDs.
DVDs like tapes and CDs are also more valuable in terms of what your customer might pay for them; although they are more expensive to produce, people are more likely to pay extra money to watch a DVD especially if it can show them how to do something instead of having to listen or read about it. For example, showing someone how to dance or swing a golf club would be much more valuable then telling them how to do it.
Remember that the if you cant do it, get someone else to principle applies for DVDs and audio information products as well. It will cost you a little extra, but will usually be worth it in the long run.
Regardless of your current level of video expertise, if you have the basic equipment, you can produce your own SIV. The first time around, you should consult with a sound and lighting technician and hire a video editor who can help you assemble your masterpiece.
Picking a topic and selling it
I probably should have covered this at the beginning Anyway, by now youve probably got 3-4 ideas for your own e-book If not, youd better get brainstorming!
Have you ever trained an animal Theres a product right there. Do you have a fantastic way to save money Theres another product. Do you know how to build anything Thats definitely a product. Theres potential for information products all around you. The most important thing is that you research you target market properly and find out what they are interested in. A great way to do this is to post a short online questionnaire which you can advertise through pay per click Google Adwords. You could offer to give away a free copy of your product to anyone who helps you out with your market research.
Before marketing your product, decide how much its worth: as a rough guide, you can sell an audio tape for at least $10 - $30 or a series of tapes for a lot more depending on the subject and you should be able to double that price for a CD or DVD product. At the end of the day you really have to test your price -you need to understand how much the market values your information. If your product can help other people earn money, you should be able to sell it for $97 per unit or more. If youre trying to market a dog grooming manual you may find it more difficult to generate good returns you must pick your topic carefully.
Some killer website copy, targeted ads and packaging can all help add value to your product. You will also need a merchant account so you can accept payment for your information product. Visit
http://www.profitpuppy.com/accepting-payment.htm to learn more about merchant accounts.
E-books, tapes and SIV information Products can be the ideal business to start - they are easy to produce, simple to ship, and enjoy high returns because people arent paying for the physical form the product is delivered in. Remember, that after youve completed your product, youll be making nearly 100% profit thats if people are interested enough to buy it. For example, if you produced just 1 DVD and can sell 500 copies at $50 a piece, you stand to make $25,000
Regards, Rob Rawson
About The Author
Please feel free to forward this to any of your friends, workmates, or colleagues. To subscribe to the Ecourse, please visit Profitpuppy.com
You may reprint/republish any of the following articles on your own Site, in your own ezine, auto-responder series, product, bonus items, or any other format you wish as long as you adhere to the following:
1. The article must not be altered in anyway and the links must remain active
2. You must not abuse the Internet in anyway, shape, or form with ANY of your online marketing. This includes but is not limited to sending unsolicited commercial email SPAM, abusing online forums, using copyrighted materials without permission, or infringing on the trademarks of others.
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