Using Info Products for Marketing and Passive Income
If you are launching while working, info products can be the perfect passive-income opportunity to expand your business, grow your income, and position yourself as an authority in your niche.
The term info product can apply to all factual books, reports, transcripts etc. In the online world, the phrase is used to describe electronically deliverable, knowledge based products. They are often known as knowledge based goods, or digital goods and are delivered virtually, available for download, or distributed via e-mail to the customer.
Types of info products include:
- Survey Results
- MP3 Audio Files
- Home Study Courses
- Forms and Templates
- Step-by-Step Tutorials
- Certification Programs
Advantages of Using Info Products
Information products are a fantastic tool to increase profits, credibility, traffic and much more. They have a low start up cost, are simple to produce and in most cases, they’re low risk products that you can create yourself. Even better, if you have the right content and choose he right audience, your products will always be in demand. Savvy service-based businesses and solopreneurs use infoproducts as a regular part of their product line and marketing strategy. Here are a few of the advantages of selling online information products rather than traditional physical products.
1-Info products have a low start-up costs
Producing quality information products requires very little investment. Once you have a domain and a host, you only need the ability to create PDF files or similar and you are ready to create your product. The production costs remain the same no matter how many copies of your information product you sell. Creating multiple products is the same as copying a file.
2-Info products are distributed on – demand
There are no packaging or shipping costs with online information products. They can be delivered to the customer within minutes of order, with no possibility of getting lost in transit. The fact that they can have the product immediately is a huge selling point for many buyers.
3-Info products generally have low overhead compared to physical products
With an online information product you will not have to employ someone to oversee production, to manage your inventory, or to organize shipping. You will not have to buy or maintain expensive equipment to manufacture your product and you will not have to hire premises to house that equipment.
How to Use Info Products in Your Business
There are two main uses of information products: selling them or giving them away. The reason for doing the first is obvious; you receive a fixed amount of money for each product that you sell. This is a profitable business, roughly twenty percent of internet sales come from information products. The reasons for giving away your information product might seem less clear, after all why would you spend time creating a quality product if you aren’t going to make any money on it?
Here are a few of the reasons you might consider giving away an information product:
- As an incentive to subscribe to your mailing list or free membership site
- Because it includes affiliate links that will make you money in the long term
- To increase your reputation as a subject matter expert
- To build up credibility with your customers so they will buy a higher value product
If you are just getting started with incorporating infoproducts into your business strategy, begin by creating a free product from content you already have. This is a great way to create a product fast and provide extra value to your customers and prospects by packaging everything for them. The quicker you create a product, the sooner you have something to promote to share with your network and promote to your prospects.