Yes, You Can Still Earn Large Profits from Information Products
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Update from Jeff...
Welcome back everyone, and a warm hello to all of our new subscribers this issue.
Fellow infoproduct developers and marketers, we're entering that time of year when business is at it's best.
There are others - but October-December and late January - June are the top producing months for online marketing of your information products.
In this issue, you get the last part of the two-part article on exploring different - and more profitable - types of information product formats.
As you will see, there are some very powerful, profitable formats you can use to package your knowledge - formats that you could release within days or weeks of developing your ideas. That way, you can take advantage of the hot buying mood your customers are in at this time of year.
As always, be sure to contact me with any comments questions or suggestions you have. This ezine is for you - let me know if there are topics you would like addressed.
Also - keep watch for the next issue where I will come clean on the exact methods I've used to draw highly targeted traffic to my site. It will be as good as getting access to my web statistic logs!
Until next time...
Part 2 of 2
Copyright 2002 - Jeff Smith
Continuing where we left off in the first part of our goal of differentiating how you deliver your information to get more sales at higher profits.
If you missed the first part of this article, you are in luck! It's archived as part of our last issue here ===> http://www.infoproductcreator.com/news/IPPSSept24-02.html
Here are the last 5 alternatives to eBooks that will put more money in your pockets, and in most cases, in much less time.
6. Audio Interviews
One of the key disadvantages of eBooks, newsletter, special reports, etc... is that they are non-interactive. Many people learn better by hearing examples, discovering information in an interactive setting. Get someone to interview you about your topic and record it. You can record the interview over the phone, in person or by using a third-party conference service. Once again, you can offer your information via recorded interview for a premium over what you would charge in eBook format. Even better - you can complete and package an interview for profit in a matter of hours.
7. For-Pay Newsletter
If you have experience, knowledge, contacts, or any other constant value you can add to a specific target market, then a for-pay newsletter can be an excellent source of income. Many established newsletter publishers - even those with just a few thousand subscribers, are converting to a beefier "for-pay" model. Even if they only convert 500 to subscribers at $47/year, that's $23,500 revenue PLUS the ability to market products to that group AND collect renewals over the years. One example of a top quality, for-pay newsletter is Jonathan Mizel's
8. Pay Members-Only Website
An alternative to a "for pay" newsletter is a "for pay" private website. Here you can provide various forms of content and services to your customers in exchange for a monthly, quarterly or yearly membership fee. What would you provide as content? Here are some examples:
Your topic may lend itself to conducting bi-weekly or monthly seminars to local audiences. Perhaps you have tips on how to purchase a new home - you could run targeted ads or partner with builders in your area to run a bi-weekly seminar in a rented room. Maybe you were a manager of customer service in the travel industry - you could develop a seminar on top-rated customer support tips for the travel industry and market these to hotel operators, as well as other tourist companies. Online seminars are hot, but don't underestimate the power of personal seminars to both make immediate income as well as gather high-quality leads for other products or services you offer.
10. Product Bundles
Bundle different product formats to add even more value to your offering without increase the cost. For instance, say you have written an eBook on travelling to your favorite city. Translate that into an audio product or audio interview by simply talking into a microphone into your computer or via telephone recorded into your computer and capture that via a relatively inexpensive recording software such as n-tracks (shareware). Where your eBook may only sell at $17-$27, the bundled product may get you $47-$67 or more...with very little added cost. Bundling can be a highly effective technique to squeeze 3-4 times more profit out of your content. Take a look at what I've done with Ultimate Information Entrepreneur's Success Package, http://www.infoproductcreator.com where there is no question as to the value of the package because there is so much relevant information to help anyone get started developing their own hot selling infoproducts.
If you are considering developing your own eBook on a specific topic, then consider these other options first. If you already have your own eBook, then consider these other options to pull additional profit from your content.
Turn your information product development business into multiple streams of income. That's truly making a PROFIT from your knowledge.
Yanik Silver - "Avoid The Pain Of Developing A Dud Product"
Special Interview Excerpt
Over the last couple of months, I've had the privilege to hold a series of 12 wide open one-on-one's with several TOP-GUN information product developers.
For this edition's installment of Insider Interviews with Top Gun Infoproduct developers, we return to the great Yanik Silver. If you have EVERY doubted the need to make sure your product idea is IN-DEMAND before you start working on your infoproduct, then Yanik's advice will definitely make you think twice. If you missed the last few powerful interview segments with Yanik Silver, Marc Goldman, and Willie Crawford then you can still see them online here:
Now, for this week's interview excerpt!
It seems to be one of the things that causes paralysis for new people getting started in this industry is that they get married to one single idea and try and make it perfect, and it never gets released and even if it does, it's too far down the road.
Right, another great point Jeff. Getting married to one idea. You can't be so emotionally attached to it, that if the market tells you their not interested in it, you can't just keep throwing good money after bad and pretty soon you've wasted a year of your life and who knows how much money. And who knows how much actual cost went into that -- by cost I mean not being able to develop another product which could actually have been better received.
I have a little idea notebook that I have in my top drawer, where everytime I come up with a product idea, an information product idea, or any kind of idea, I jot it down in there. That definitely helps, because if you are not - going back to what you said, not being wed to one idea - I have dozens and dozens in this little notebook. So if something crashes and burns, then it's as simple as next?
So how did you get beyond your first product [which was Instant Sales Letter], and get into some of the other ones you've developed?
The next product is called Instant Internet Profits === > http://www.instantinternetprofits.com which teaches people exactly, step-by-step, how to create their own information product and sell it online. And, as you know, there is a good amount of competition in the internet marketing field. The only reason that product came about was because I took my own examples from how I built Instant Sales Letters from zero to bringing in over $55,000 in less than 6-months.
So I took examples of how I built that, how I built our affiliate network, how we setup joint venture deals, and all those things based on real life examples, not any kind of theory or anything like that. That's what it's place in the market was.
So, that's another way to create an information product. Take what you have actually done, personal experiences. People love to see examples. So I took examples of the actual letters we used in our business to solicit affiliates, letters that we used to submit articles, and things like that. That's how that product came about.
And then the next two products are based on the same type of model. One is called Autoresponder Magic and another is called Million Dollar Emails
=== > http://www.autorespondermagic.com/ === > http://www.milliondollaremails.com/
They were both compilation products, where we asked people to submit content, for example for autoresponder magic, we asked people to submit copies of their best autoresponder sequences and we went to people like Jonathan Mizel and Scott Covert and countless number of other people who were using autoresponders effectively and just had them give us their autoresponder sequences, packaged it all into a book. I wrote maybe 10 pages in the beginning, put a few of my own sequences in too, and that was it, we had a 500+ page eBook. That was about a 2-week project. As soon as we got permissions, it took us less than 2 weeks to get everything else together. Get the sales letter written, get the graphics done, and get it all compiled into a .pdf and out there.
Yes, and the point being that this type of information is still of tremendous value because there is so much information out there right now, to take the time to gather it for other people and access those sources is worth allot of money.