Why are informational products created? That’s not a trick question. They are created to impart, share, pass on information. But good information products do this quickly and easily for the product’s intended audience. So how do you create a good information product? What elements or qualities must your information product […]
Category Archives: 2-Creating Products
Probably one of the toughest things you’ll learn in business is discerning the difference between benefits and features. And this knowledge can make or break your business … because people buy benefits, not features.
So if you’re pushing the features of your products and services, you’re not going to sell much. Thing is, features are easy to list and talk about. It is translating those features into benefits that gets a lot of people stuck — especially coaches, speakers and info-service professionals. That’s why I dedicated an entire call in the Marketing Strategies for Promoting YOU! program (call #6 with Annie Jennings and Stacy Amara Kauffman) to the topic! I’m even dedicating an entire chapter of Plan Your Business Vision, to the topic!
The rule of thumb for telling the difference is this: A feature is a fact about your product or service:
- The pen is red.
- You record your coaching call and provide your clients with the recording so they can refer back to the session in the future.
- You incorporate audience interaction into your presentations.
Will your information product be a success?
That’s really the question you want answered before you start, isn’t it? There are several things you can do to make sure that the information product you will create is a success.
1. Decide what success for this product means to you.
How will you define success for this product? Will it make your X dollars? Will it generate X leads? Will it gain X visibility? What benefit are you looking for as a result of this product’s creation. If you are not clear on this before you start, how will you measure your success? For example, if you think making X dollars is you success factor, but you end up measuring leads generated … you may think your product was a failure. But you won’t know!
2. Give your target market what they hunger for.
Find out what the demand is before you create your product. If there isn’t a demand for, let’s say under water basket weaving techniques, then there really isn’t any point in creating an information product about it, is there? You can research market demand for information by visiting forums and blogs that relate to your topic. Check out available e-zines, newspapers and magazines. Take a look through Amazon — if there are a few books on the topic, chances are there is a demand.
3. Find out if there is competition or not.
This is a dead giveaway. If there is competition, then there is probably a demand. What is the competition selling? How much are they charging for it? Can you see how successful the sales are? What can you do differently than the competition? What can you do better?
4. Make sure your product provides benefits and that they are clear and easy to communicate.
You need to be clear on what your target audience will get out of investing in your product before your create it. If you don’t know the benefits, how can you communicate them to your target market? Remember, people buy benefits … not features!
Some might advocate jumping into info-product creation, while others recommend planning everything out before you get started. While either method can work, I like taking the middle road. Here are some tips you can use to create info-products without quickly creating junk or smothering your product with over-preparation. Tip #1 […]
One thing that many coaches, speakers and other expertise-based business owners seem to have in common is a lack of understanding a basic concept of marketing: The Marketing Funnel.
The idea of a marketing funnel, sometimes called a product funnel, marketing pipeline or product pipeline, is this:
- At the widest point of the funnel, the mouth, your business draws in prospects. This is where you have your attraction tools — your bait or lures that attract suspects and prospects into your business.
- In the middle of the funnel, you have your mid-prices products and services.
- At the end, the smallest point or spout, of the funnel, you have your highest-ticket products and services.
The idea is to get as many people to go through the funnel and come out the other end. The problem is … (more…)
You want your information product to be successful, right? Of course you do! Then, before you do anything else, get clear on what you want the end result of your product to be. When you really get down to it, the purpose of all informational products is to make the […]
Welcome to September! This is the month that many of us are dealing with “back to school” tasks, so I thought it would be the perfect month to discuss information products and how you can use them in your business.
Information Marketing is not new — just the ease with which you can get into the business has become much more easy. Before, information booklets were sold via mail order, but now you can by-pass shipping expenses and offer them as downloadable products through the Internet.
There are basically three different kinds of information products you can create and sell over the Internet: the written word (e-books, special reports, etc.); the spoken word (online audio, CDs, etc.); and the enacted word (video). This is a good thing, because different people have different learning styles and, therefore, prefer a different method of receiving information.
Also, some information lends itself to being communicated via one method over another. In other words, sometimes it is more effective to show someone how to do something (video) than to tell them (audio). Sometimes information is easier to grasp if you can read it over again (written) rather than see it (video). You get the picture.
So, when you are deciding what type of information product you want to produce, you need to keep two things in mind:
- What method of delivery will best serve the information?
- What method of delivery will best serve your target audience?
The first question is usually easier to answer. And sometimes, if possible, providing the information in more than one format helps you take care of the second.
So, to help you with the first question, I’ve written up a little primer to the three main methods of information delivery: