What is knowledge worth? You may say power, but actually 'applied knowledge' is power.
You have expertise that others will pay you for. Teach what you know and teach it in a way that is better and different.
You make money from your information product by writing it once and making money from it over and over.
If you consider yourself an expert then you are! When you share information that other people need then you are an expert. Remember, other people want your knowledge.
What information can you share? Think about your hobbies and interests. What topics do you know about? What are you passionate about? For example, you are a well seasoned traveler and can provide travel tips.
Do you have systems, shortcuts, or strategies that you can share with others? Think about your vacation. Did you return home with knowledge of things that would make your trip smoother next time? These travel strategies and tips can be turned into an information product.
You don't have to experience or create the information. Instead, you can be a 'reporter'. You can collect the data and report on it. You can interview other experts in your niche. For example, Mark Victor Hansen's 'Chicken Soup for the Soul' series is based on other peoples' stories.
Don't create a product without asking. Ask your customers what they want and then create a solution for them. Think about Coca-Cola when they introduced 'New Coke'. The market didn't ask for a new version of Coke, so the product failed.
To reach the target of your market, you just ask! If you want to be successful you have to ask your customers what their problems and needs are.
How to Create your own product:
1. Identify the problem.
2. Provide the solution.
3. Create an outline and then record the product. Get it transcribed so you have a manual and audio version of your product.
4. Types of information products you can sell:
Books or eBooks
Magazines or ezines
Seminars or teleseminars
If you create just one product then you are doing a disservice to your customers. If you don't cover all their needs then they will seek out your competition. So you need to have a marketing funnel. Your fortune is in the funnel.
Your marketing funnel should have a beginning (low), middle, and end (high).
Businesses thrive on their marketing funnel. The funnel should have four different ranges. Your products can be products, memberships, coaching, consulting, research, and seminars. All of these would have a variety of price points.
How to get customers into the top of the marketing funnel:
1. Squeeze pages.
2. Article marketing
3. Email marketing
Build a qualified list as you are building your business. It is about quality, not quantity. Relationships are important as well.
Prices of products in your marketing funnel:
At the top of the funnel products should range from free to $297 in cost. Start at free or a low price so you can build a relationship and ease them into your marketing funnel.
Mid range: $397 to $1997. These include home seminars and smaller courses.
Bottom of funnel: $1997 to $4997. This is where you have more of a personal relationship with the customer through coaching, consulting, and mentoring.
Tip: Your fortune is in your marketing funnel! |
![[Valid RSS feed]](/images/icon_Rss.png "The Author : XML Feed For RSS"){kind=icon}
Print This Article
Add To Favorites
Html & Info
Post a Comment
