Information Product Creation: Tips, Mistakes and Ways to Correct Them

They say that incurring mistakes will allow you to learn and correct your faults when a second chance comes around. However in creating information products, this is not true at all. You would certainly learn but a second chance may likely not come. If you are lucky enough, the likely consequence that you may face for your errors is low profits. Otherwise, your mistakes might destroy not only your image but also your credibility and your business name.

General Tips to Avoid Mistakes

Thus you should avoid committing mistakes when producing information products. To do them, here is a general list of tips that you can consider.

  1. Research and learn from experiences of different professionals online.
  2. Follow best practices and adapt strategies that are appropriate for your information.
  3. Read guides and resources that can help in creating excellent quality information products.
  4. Know avoid the common mistakes of other professionals so you do not do the same.
  5. Prepare precautionary methods that can help you resolve problems in case you commit mistakes.

Ways to Avoid Common Mistakes

1. Dropping a Business Idea Because It Is Not Unique

There are thousands of similar products that are sold in the market today. Hundreds of them have almost the same features and offers. However, most of them have their own network of clients.

Many people think that selling products that are not unique would not be profitable. This is a mistaken belief by those who do not have to heart for competition or by those who do not wish to earn their own client base.

Always remember that what the customers would be paying is not the unique idea that you have but the valuable information that you offer them. Whether your idea is unique or not, as long as it meets the needs or demands of your prospective clients, your information product will still be sold.

2. Setting Your Price Too Low

Setting the price of your product too low does not necessarily mean that it will gain more clients. Moreover, you may as well face the risk of not getting even just the initial capital that you spent to work on the project.

This is why it is relevant that you set your price right. Make sure that you can earn profits meaning – you should ensure that you will receive a sum over your capital costs. To do this, the best approach is doing marketing research before you release your product. You should define your target market and learn the purchasing power of your prospects. More so, you can also do comparative studies to determine your likely price by comparing prices set by your competitors on their information products.

3. Doing Your Marketing Alone

One of the common mistakes of marketers online is doing their marketing alone. Doing a lone marketing approach may gain earnings. However, it is a lot more profitable if it is not done alone.

There are a number of ways how you can market your information products with the help other people. One instance is the use of affiliate marketing. In such method, affiliates would be able to refer or recommend your sites in exchange for commissions, links or other services that you will give them prior agreement.

Another popular approach is through networking. Today, there are a number of networking sites that aid hundreds of professionals market their products. You can also do the same by creating accounts in networking platforms, getting a number of followers or subscribers in your niche and offering discounts, bonuses or incentives for every successful sale on your information product.

Information Product Ideas

Are you struggling to come up with information product ideas? Here are some ideas that you can to create your own information products.

Step By Step Guides

Write a step by step guide on how to do something. Lots of people are looking for this type of information because they want something that they can easily follow.

Examples are:

Step By Step Guide On How To Bake The Perfect Victoria Sponge.

Easy To Follow Guide On Building Your Own Rabbit Hutch

Home Study Courses

Sometimes people are looking for something more indepth or advanced that they can go through in their own time at home. Perhaps they are working on a longer term project.

Creating a complete home study course will enable someone to go from A to Z so that they can complete the thing they want to.

Live Training Programs

There are always people who want to learn something live. It enables them to ask questions as they are learning. Producing a live training program on how to do or achieve something is another great type of information product because you are able to sell it more than once!

You can sell it as a live course and then record it and sell it later on as a recorded course.

Weekly Programs

Another way to sell information is to compile a number of lessons and send them out on a regular basis. It could be weekly or fortnightly or monthly.

You could create a membership site so that the lessons only become available after a set period of time.

Having this type of information product enables you to generate a recurring income.

Coaching Programs

People might be able to get the information they need but often there are those who want the feedback and accountability that comes with being in a coaching program.

The only difference with a coaching program is that your clients will have some way of communicating directly with you. The information that you provide can be exactly the same as any of your other products.

Various Formats

You can also use various formats for your information products – such as video, audio or written format. You can use a combination of all 3 in any one information product.

Don’t forget that you can also create a physical version of your information product such as turning an ebook into a physical book or a video series as a DVD that can be shipped out.

How to Create An Information Product That Sells

At some point, you’ll want to provide a self-created information product on your blog. It might be a free product you use as a subscriber opt-in enticement, or you may be ready to create a product you sell. Eventually, you will want both types of products available on your blog. Is it imperative to have your own self-created information product to make money online?

Not at all. You can certainly sell other people’s products and make a good income. However, you can bring in a lot more money and have control over the creation and promotion of a product if you create it yourself.

You Own Product or Affiliate Products?

When you sell affiliate products, you earn only a percentage of income you generate. The product creator earns the remainder (usually a 50/50 commission split).

But if you sell your own products, you make 100% of any sales on your blog, as well as a percentage what your affiliates sell. There are lots of options with product creation — you can sell your own information product, your affiliates can also sell it for you, and you can add to that income by selling affiliate products. Creating your own eBooks, courses, guides, etc., gives you the option for multiple streams of income that can eventually become streams of passive income (meaning you don’t have to do anything except promote the product now and then).

Many new bloggers believe they lack the knowledge or ability to develop a product from scratch. That couldn’t be further from the truth. You have many skills that others don’t have — and you can share those skills and your knowledge about them with others who are eager for the information. It can be anything from parenting tips to building a birdhouse! It’s just a matter of finding out what your readers want, then learning how to create and design the information product, and present it to your customers in an appealing way.

You also need to carve out the time during your week to work on the product. Let’s look at the initial steps for planning and producing an information product to sell on your blog.

Step I: Deciding What to Create

The hardest part of creating a product is determining what to create. When trying to decide, keep these two things in mind:

Be passionate about your subject matter. This will make creating the information product so much easier and the final result even better.

With your information product, be sure to offer a solution to a problem, teach something readers want to know, or show them how to do something that will improve their lives.

Now consider your blog niche and topic categories. Begin brainstorming some possible product topics you think might interest your readers and that would work well as a product. Make notes about these ideas. If you can’t come up with something on your own, begin research other blogs in your niche and look at the information products they sell.

Begin to notice other information products on the net. And even though a product may be out there doesn’t mean you can’t create something similar. The Internet is teaming with people looking for valuable information.

Step 2: Get the Reader Involved

If you really want to know what kind of product your readers will find useful, ask them! Many bloggers overlook this step because they just want to get on with the process of creating the information product. They get inpatient. However, your readers’ feedback and opinions are vital to the success of your information product.

Here’s why:

1. They become invested in the information product since they participated in creating it.

2. By involving your readers, you can create exactly what they want without just guessing or hoping they’ll like it.

When you engage your readers in every step, from the topic, to the format (ebook, course, etc.), to the medium (written, video, audio, combination), to the content, you further commit your readers and foster their enthusiasm and interest.

Here are some tips on how to engage your readers:

Start a conversation with them. Hopefully you have an email service so that you can send out a broadcast email. With a smaller subscriber list, you can offer a “survey” within the email, to ask questions about the information product.

  • Advise your readers in the email about your product, and invite their input and ideas. They can select from ideas you present to them, and you can ask open-ended questions about possible topic ideas you may not have mentioned.
  • Find out the type of information product they prefer — a course, ebook, workbook, etc. and the medium they like – written, audio, video, or a combination.
  • Ask just a few questions so you don’t overwhelm them. If you need to find out more, survey them again as you work on the project, as you outline the content and need other answers from them.
  • If you have thousands of subscribers, consider using survey software to help you collect your responses like Survey Monkey or Survey Gizmo.

Step 3: Research Your Topic

When you have a good idea about the product topic, conduct some research to make sure you:

  • optimize SEO (search engine optimization) so your information product will be found on Google and other search engines;
  • learn more about the competition and their products, noticing what you like or don’t like about them, and how they rank in SEO;
  • create a unique point of difference for your information product so it will be more interesting, useful, and valuable than other similar products.

You can use a free service called Google Keywords to help you look at product keywords and phrases. This will help you learn about the competition, determine the best name for your product, and discover how many people are searching for this topic or related topics.

Be sure to use a strong keyword phrase is in the title of the information product. An interesting or creative name may seem compelling, but a straightforward keyword phrase will do more for you with helping readers find your product.

Step 4: Determine Your Creation Schedule

Be sure you proactively schedule time in week to work on your information product. Set a deadline, even a launch date, and announce it to readers to create a sense of urgency for yourself. Start working backward from your deadline, plotting on a calendar exactly how many hours per week you will spend working on the product. Outline the product content before you start writing.

Refine the outline, and then show it to your readers to get input. Once you have the outline, begin writing and developing the content of the information product. If you’d rather not write the content yourself, you can pay a freelancer to write it for you. You will make up the expense of this service when you begin selling the product.

Check out Elance to find hundreds of freelance writers. However, if you create video or podcasts, do these yourself, as your readers prefer to see your face and/or hear your voice. Remember, the work of launching an information product takes nearly as much time as creating it – between the design and packaging of the product, developing a sales page and marketing plan, finding affiliates, and promoting the product launch.

So consider setting two deadlines, one for completing the content and one for packaging and promoting the final product.

Step 5: Ask for Feedback

When the information product is completed, ask for input from a few readers and even other bloggers before you design and package it. Offer the rough draft to 5-10 readers at a discounted price in return for their feedback and testimonials – and with a promise to give them the final version once it’s completed. You can also ask a few bloggers to review the rough draft with a promise that they can be an affiliate at a slightly higher commission rate.

Ask them for testimonials as well to use for promoting the product. Once you have all of this feedback, make any necessary changes or corrections. At this point, you have should have a product that your readers can’t resist.

Your Quick Guide to Creating and Selling Information Products

Putting up a business that creates and sells information products is not easy. You will need to consider all the aspects of your product from data collection to sales and management.

This article will serve as your guide as you walk you through all the essential processes of creating and selling these products. It will be helpful for you especially if you are doing things from scratch.

Classifying Your Information Product

The first decision that you have to make is to determine the type of product that you want to produce. There are various types of information products. Here is a list of the most popular information products available today. Just select one that would best suit your style or preference. You should also consider your funds and resources when deciding.

  1. E-books
  2. Video Trainings
  3. Audio Trainings
  4. Membership Sites
  5. Live Trainings
  6. CD and DVD Packages
  7. Software

Increasing the Value of Your Information Product

The most essential aspect of your information product is its value to your clients or prospective customers. Your information product should meet the needs, requirements and desires of your target market. It should also be relevant and timely so that you can ensure long-term profits.

Here are ways on how you can increase the value of your information product. In your research, ask questions on how people would feel about your product. You can also inquire about the likely price they would pay for the product and the possible expectations that customers would draw upon purchase.

  1. Forum Research – Forums are niche-oriented. This means that you will likely obtain information and opinions from people belonging to your target niche.
  2. Social Media Research – Using social media, your research results would be diverse. However, you can use it especially if your target market is into social networking and online media.
  3. Market Research – Doing this research would be the most effective for you. It is focused on your specific target market and it is asks detailed questions related to your product.
  4. Survey Lists – Doing surveys works similar to market research. Online businesses today prefer to use this service since the information is easier to obtain with the help of a third-party surveyor.

Selecting Methods and Resources

Developing information products can be taxing especially if you do not have a systematic technique or method when organizing and collecting your information. Here are some of the common ways that you may want to use if you still do not have one in mind.

  1. Organize information using the Brain Dump Technique. – This way works well especially if you already have knowledge on the topic. To make the process easier, you may have to rely on mind-mapping applications like Mindmanager or Freemind.
  2. Hire or interview an expert or authority on the topic discussed. – Sometimes, the best resource is an expert or authority on the topic. Set up an interview with them to collect reliable information.
  3. Discuss own knowledge on the subject matter. – This is the easiest method is you are an expert or an authority on the topic yourself.
  4. Hire a ghostwriter who will write for you. – Most ghostwriters would do their own research. This will lessen your tasks on information gathering.