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VIDEO 5: Information Products

Welcome to the fifth online business model on Information Products.

To learn more about this online business model, watch the video below and check out the additional information and resources listed below.

ABOUT INFORMATION PRODUCTS


Difficulty Level: Advanced

Creating and selling information products is considered to be a more advanced business model for more experienced internet entrepreneurs.  There's a lot of logistics that are involved in creating an information product such as the product itself, the website, sales copy, handling payments, delivering the product, customer support, upsells, downsells, as well as marketing the product.  If you're a newbie, it's recommended that you start with one of the other business models first, build an e-mail list and subscribers, and then create an information product to sell them.

Startup Costs: $500+

The average startup costs for an information products business are around $500+ depending on what you decide to outsource and hire out.  If you can create the product, website, sales copy, graphics, etc… all by yourself, then you'll be saving yourself a lot of money.  However, typically to hire copywriters, graphics designers, and programmers to put together everything for you can be very expensive.

Avg. Timeframe: 3 months

The average timeframe before a newbie realistically expects to make money from information products is within 3 months depending on where you're starting from.  It can take a while to create a high-quality product and have everything put together as well as effectively market and promote it.  If you're more advanced and have a solid team in place, you can likely create an information product a lot more quickly.

Potential: $1,000,000+/year

The potential of an information products business is a seven-figure income, over $1,000,000+ per year.

Passive: Yes

Information products can be a passive business model and create a passive income stream.  However, it's always advised that you never fully neglect your online business as there's always potential changes that can occur online and you'd always want to keep an eye on your business.

FREQUENTLY ASKED QUESTIONS

These are some of the most frequently asked questions that I get about information products.

Q: What if I'm not an expert or don't have specialized knowledge to create a product?

A: There are two options.  First, focus on blogging, YouTube, and podcasting – creating content and adding value to help people on a variety of topics.  Over time, if you can build a list of subscribers, they'll request more from you and ask you to create a product to better meet their needs.  This will also help establish you as an expert and develop specialized knowledge over time.

The other option is to hire or work with an expert or someone that has specialized knowledge in their field.  You can work with them to create an information product and then do all the behind-the-scenes work to market and promote the product on their behalf, splitting the profits.

Q: How do I find out what would be the best product to create and sell?

A: The best way is to have a list of subscribers that you can survey and ask.  You can send out a survey using SurveyMonkey and ask your subscribers what their biggest challenges are, what their biggest goals are, what they'd be interested in purchasing from you, how much would they pay, etc… and gather all the information you need to create a high-quality product to meet their needs.  This is fairly easy when you have a list of subscribers, which is why it's recommended to build that first.

Alternatively, you can do market research to see what needs or demands are in the market and then work hard to create a high-quality product that will meet the market's needs or solve people's problems.

Q: Once I set up my product that I'm selling, how do I get traffic to it and get people to buy it?

A: There are many ways to get traffic to sell your product such as utilizing search engine marketing, social media marketing, pay-per-click advertising, or having affiliates promote your product.  It's best to identify which strategies will work best for you and your product, then focus on learning a marketing channel to grow your business.

Q: How do I put together everything for my website and product?

A: I share many recommended resources below that I use for my own websites and products, but you have the option of either putting everything together yourself or hiring someone else to do it all for you. Either way, you will need a domain name, hosting, WordPress, Wishlist Member for a membership website, as well as AWeber to collect e-mails from your customers and be able to communicate with them.  All of these websites have standard training that you can go through to learn yourself.  Otherwise, you can hire someone to put everything together for you through Upwork, but just expect it to cost a lot of money.

RECOMMENDED RESOURCES

These are some of the recommended resources for information products.

AWeber – The most popular email opt-in service and e-mail broadcasting service.  I use AWeber for all my newsletters and mailing lists.

Blogging, YouTube & Podcasting – Many of the resources mentioned in Video 3: Blogging, YouTube, and Podcasting can be beneficial for information products, to help build an audience and sell your products.

ClickBank – A popular affiliate network of products and services that you can promote and earn money from as an affiliate.

ClickBank University – This is a great training program by ClickBank on how to be a ClickBank vendor, create your own digital products, and sell them online.  I currently sell all my products through ClickBank and their training was very helpful for me.

ClickFunnels – ClickFunnels helps you build persuasive funnels and landing pages and get more leads, sales, and email opt-ins. It is easy to use and it helped me build my business.

JVZoo – An affiliate marketing platform that allows sellers to easily list, promote, and sell their products, and for affiliate marketers to easily find interesting products at great prices to promote.

Leadpages – This is what I use to create high converting landing pages and squeeze pages for my websites to collect e-mail leads.  I also use their LeadBox feature to collect e-mail addresses and build my e-mail list on my blog.

Mastering Book Publishing – My step-by-step video training program teaches how I make six figures passive income through Kindle publishing and guides you on making money online.

OptimizePress – WordPress theme that allows you to set up sales letters and squeeze pages very easily.

Wishlist Member – This is a WordPress plugin that allows me to create a secure membership website where people can access my products and training.

Vimeo – This is a video hosting website that allows me to host all of my videos for my training programs.

MORE ARTICLES & VIDEOS

Here are some additional articles and videos on information products from the blog.

=> CLICK HERE FOR MORE FREE INFORMATION PRODUCTS TRAINING <=

ABOUT STEFAN JAMES

I'm an internet entrepreneur, life and business coach, and philanthropist with a passion for living life to the fullest and fulfilling my potential as a human being.

My mission is to be a powerful and passionate example of the unlimited possibilities that are available for anyone that commits their life to mastery, while sharing my very best ideas and strategies that can make a difference in every area of your life.
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