Make Money Creating and Selling Information Products
Now you have a website running and you’re starting to get some visitors to your website. It’s time to start thinking about making money by adding your own information products to sell to your visitors.
Creating your own information products is where you can develop a lot of profits. It’s better than any other way I can think of to make money directly from your website. If you develop a good information product you can do a lot with it.
An information product can act as the basis for a training program for you to offer on Udemy, StackSkills and a number of other learning platforms. It can form the basis for a podcast. An information product can also form part of a larger project like a book or YouTube series.
Information Products Need Depth for Value
Your information product will most likely be a product where you’re selling useful, in-depth information to your readers. You know your readers because you’ve done all your homework and figured out what the pain points of your readers are. Now you’re going to sell them a comprehensive solution.
By doing a good job in producing your information product, you add to your credibility and your authority as a blogger.
For instance, if you are running a health site you may have an information product on stopping smoking in 30 days. You may also have a second information product on how to lose weight. And you could produce even more information products on eating healthy and toning your muscles.
Your information product should be 10,000 to 25,000 words, it doesn’t have to be a full book. It should, however, be much more in-depth than your average blog post. Blog posts are often 2500-5000 words.
The concept you are working on is to give the perception of greater value. Not only is it a perception, but it does offer greater value than just a book or a blog post.
What you’re looking to produce is something like a report or a short eBook. If you want to maintain trust with your readers you should make the report end up packed full of information. Make every sentence count. Don’t disappoint your paying customers with low quality. Over-deliver!
The 4 ways to create an info product are to
- Hire the writing out to a ghostwriter
- Partially create your own product by adapting a piece of private label pre-written work
- Write it yourself from scratch.
- Use an excerpt from a book you have written.
Hiring a Ghostwriter
Firstly you can hire out the writing to a writer that you find on Fiverr or on Upworks. If you’re going to subcontract the work you should be paying around $100 for your product. It could be less or a bit more but in any event, make sure you get a good writer.
When you look on Fiverr you will see many prices for ghostwriting. They will range in their ability to create a decent product. Some writers have no experience and the more competent writers will charge more. If you are willing to put up with a lot of revisions and possible missed deadlines you could opt for a less expensive writer, but read on and then make your own decisions.
Speaking of writers do not start by hiring the cheapest writer that you can find. I recently purchased a Kindle book that was obviously hired out to a person who did not have English as a first language and whose English was poor. A big mistake the “author” made was in his rush to publish he did not read and re-read the product he bought.
The amount of editing that you will have to do to catch all of the errors will take as long as writing the info product yourself. You run the danger of missing errors and having your work look substandard.
Get several samples of the work and get references from other users of this person. Look at the reviews that this writer has and the overwhelming majority of the ratings should be five stars and less than 1% should be dissatisfied.
You will need to set out the writing style and format for the writing. Do not leave this up to the Fiverr writer.
The only thing you will get from a Fiverr writer who has not been informed of the way you want your work done will simply be a number of paragraphs for you to revise. So let your writer know if you want bullet points, tables or other writing styles used in the product.
Don’t expect your writer to do very much research on your articles even if they say they will research the articles for you. The expectation should be that you will give them a number of bullet points that you want to be included in your work and they expand on your bullet points as required.
Give your writer a table of contents and subtitles or chapter titles for the work. The better of an outline you can give your writer, the quicker and better the outcome will be.
Give your writer the research you have done to prepare this information. This may include blog post addresses YouTube addresses Wikipedia citations and books that you have read to develop your take on the information.
Once your gig is completed you will have five days to review the information provided to you and if you do not react within that 5-day time limit the writer will be paid and off the hook for doing further revisions.
So make sure that you take the time to review and suggest rewrites to the writer. Do not mark your gig as complete until you are satisfied with the work that you have paid for.
Creating cover art
You need to have a great looking cover for your work. It, in itself, is a sales tool that you can’t afford to ignore. You can purchase graphic artist services on Fiverr to get a well-designed book cover. The same rules apply to the graphic artist that you are hiring. Give them an outline of the type of colors you want and the sort of graphics that you want to include.
The closer you can provide to a finished image for your book cover the better quality you will get from the graphic artist.
You will also see where some graphic artists will provide you with a PDF and for more money, they will provide you with a JPEG and the source files so you can modify them at a later date.
Personally, I would just get the jpeg image and not worry about the source files unless you are prepared to go into a program like Photoshop and start making changes yourself. If your info product is successful and you choose to expand it into a full-fledged book and sell it on Amazon or another major retailer you may want to revisit your cover art. You can hire somebody to improve your cover art at that point. The choice is yours. I personally, however, would not pay extra money for file that you probably won’t need.
Private Label Rights books (PLR)
The second way for you to create an info product is to purchase a private label right document and revise it as necessary to make it suitable for your audience.
The vast majority of PLR books are generically written reports about various topics
There are a number of private label right organizations online that will sell you full rights to an info product for you to modify to your own for about 20 to $30 each.
The problem I find with buying info products is that many of them are poorly written and have outdated information. Many PLR products have publishing dates that are 5 and 6 years old or older and many of the methods of doing things especially when it comes to the internet have changed substantially.
Additionally, most of the information is written in a very generic manner that has no actionable steps. If you want something to keep your buyers coming back for more, you need to provide top-notch actionable information that will assist your readers to overcome their problem.
If however, your niche involves a craft like woodworking or sewing, the rate of change is much slower and an older PLR info product may be satisfactory.
If you are purchasing a PLR product note what the return privileges are for that product in the event you are not happy with it.
If you are a member of PLR-ID you can download all of the info products you want and combined some of the different portions of their info products and create one really good product. Becoming a member of PLR-ID is usually about the price of three or four info products that are sold individually and quite frankly many of the products on PLR ID are being sold by marketers through other PLR sites.
So using PLR can be less expensive than hiring a writer from Fiverr or Upworks but you will have to do a substantial amount of work to make the product up to the standard that your readers will want.
If you are using PLR-ID you will also have the right to a cover art creator and this will save you money that you would have paid to a graphic artist.
Writing Your Info Product Yourself
The third way to produce an info product is just to write it yourself without any assistance from other writers or PLR material and maybe or maybe not hire graphic artists.
Writing the work yourself will be the most time-consuming of the methods I have outlined to produce an info product but you will get the satisfaction of getting exactly what you want and most likely providing your readers with the best experience from your website.
If you are afraid to write all of the material because you feel you will not get through it or that your grammar will be core you can always hire an editor to review your work and suggest edits.
Editors are for hire on Fiverr the same as writers and the same warnings apply when hiring an editor.
Look for someone with a 5-star rating, see samples of how they have completed their work, and get references wherever you can.
Your Book Excerpt
Once you have written a book (yes you can do it) you may consider making an info product from the essence of the book. In effect, you are re-writing your book to make your information into more of a workbook or interactive content.
Re-writing your book is really easy because you are not doing a complete re-write but simply changing some of the information into useful charts and worksheets to help your buyer solve their pain point.
As I had mentioned before, the idea is to add value that goes beyond a simple read.
Promoting your info product
If you think that just dropping a link on your website will be enough you might be right and you might be wrong.
Think about the classic 4Ps of marketing when it comes to your info product.
Price, Product, Place, Promotion
Most info products have a value of about $10-$15. You can sell your info product for much more and I have seen in one case a book on internet traffic being sold for $500. It promised to uncover many secret places and techniques to get traffic. You are selling to a different buyer than the traffic product I offer for $20 (although they’re essentially the same information)
The $20 product (available mid-2019) will need to be promoted in several places, on social media, my email list and on my website while the $500 product is only offered to the best of my knowledge through 2 email lists to “select” customers. Two similar products offered with two very distinct promotions in very dissimilar places.
In the case of the $500 traffic “Rolodex,” it was being sold through an exclusive offer from a high-end marketer. Everything from this marketer was offered at a premium. If you were in that person’s sales funnel you expected to pay top dollar for the perception of excellent products.
The choice is yours. There are two very distinct philosophies behind each. For the senior marketer who is offering the $500 traffic info product, the idea is to sell a few products that may net more than my product at $20 a pop.
Why would I then offer my product so cheaply?
The concept of value is important to me. I don’t want anyone to think I am overpriced and I want zero returns on my product.
I believe that selling my product at a lower price will benefit my long term strategy to build a solid base that will help support me for years to come.
You already are writing for your blog already and starting to develop a following and it is time to add an info product. An info product can be an excellent source of revenue for your website and one of the best ideas about an info product is that you probably have the basics already done.
Often the information you already have on your website can be a good place to start, especially if you have a post which is popular and gets high traffic. You want to take that information and expand upon it and offer extras that will increase its value to the level that people want to buy it from you.
If you cannot write the content of the product yourself there are a number of different ways that you can outsource the product creation.
Having an info product is one of the first and best revenue sources you can get. Once you have your info product completed, let me know and I’ll showcase it here on this site.