They go online to watch a makeup tutorial, check out unboxing videos of tech products, get inspiration on their next travel destination, search for cheat sheets and hacks for their favorite video games…
When you share what you know, solve problems that people have, teach and inspire them, you then have the best online business opportunity available to you, selling information products.
Selling informational products has been my online business model since 2009.
In this post, You’ll get back door access to the methods we used to get our online business up and running, know how to lay a successful foundation from day one, and how to generate recurring revenue online from your information products.
Other Posts to Help With Selling Information Products
But what if you think you don’t have a unique skill?
Then it's time to start learning something new. Selling information products begins with you choosing something that you can be passionate about and learn more about it through an online course or a workshop you can attend, aiming to be a step or two ahead of the average person.
That's what my wife and I did fresh out of college. We learned a skill that resonated with our interests.
The best online business for my wife to start involved her learning how to create a specific type of meditation, while I taught myself how to work with WordPress.
Later, I evolved my interest to optimizing content for search engines and conversions.
If you need help coming up with product information ideas watch this.
Types of Information Products Can Encompass Anything
Maybe you are great at racing drones, or you know some yoga poses that can relieve stress, or you can help people lose weight, sleep better, or feel calmer.
Are you a school teacher? Then maybe you can offer information products and services by inventing an English language course online, or through creating modules that other teachers can use for their classes.
Do you have sick guitar skills? Then you can teach people how to play the guitar online, make tabs and chords that aspiring guitarists can use…
Maybe you’re a naturopath skilled in alternative medicine and know some clean eating and detoxing techniques. Then this would be the best online business for you to start.
As long as it’s something that can help others, creating the product and learning how to sell information online is an extremely worthwhile business model .
When you're deciding on your information product idea, make sure it aligns with your values, sparks your passion, and you're willing to continue learning and improving on your skills and knowledge around it.
THE Online Business Model Fundamental to Sell Information Products
We will go through two different online business models to generate leads and sales for your information product business.
But, if you pursue either one, or both of those business models and do not have this principal at its core, your online business will fail.
What is this fundamental?
It is building and nurturing an email list.
Your email list is the only way to ensure that you always have an available path for you to sell your information products.
Search algorithms change, popularity of Social media platforms shift, and digital advertising prices can change simply because of demand.
You own your email list and no one can inhibit you from sending an offer to your list except for you clinging to your perfectionism and never hitting send.
If you do not adopt building your email list from day one, you will be starting over from ZERO every day until you do!
We couldn’t afford paid advertising, so our only route was content marketing and selling online courses from our website that carried no cost.
We would make excellent content based on popular keyword searches like, how do I meditate, what does meditation do to me, and so on.
The information seeker would find our content, read it, then while they are on our website we offered them free meditations via a popup. A very successful lead generating machine that has generated us 178,632 leads in the past 22 months!
Melanie, my wife and business partner, was posting each day. Writing our nice long posts and using Google’s keyword tool which was before you needed to find a Google keyword tool alternative, to make sure her writings had search phrases in the titles and content.
We relied on the old Google tool to choose keywords and keyphrases that our content was based upon which helped our website get a high probability of coming up on search results whenever users were searching for those keywords.
For the first two to three years in our business, we were doing content marketing, all organically. Free traffic, as people would call it.
We were full on content marketing, making some money and headway, but our income consistency was not there.
Four years into building our information product business, I purchased an information product, lol, by Mike Dillard.
This showed me a whole new online business model so we added in this model and it was the BEST move I ever made!
Selling Information Via Sales Funnels
Dillard’s philosophy focused on using a predictable strategy to generate leads and revenue that you can scale.
Unlike whatever you do online that's just a hobby, earning you minimal cash flow, sales funnels are an essential element when building a REAL online business in selling information products.
According to him, a real online business model that you can build your life from allows you to anticipate everything - from the lead cost, cost per customer, and the revenue per customer. Not only are these predictable, but these are also measurable.
By doing all of these, you’re able to create profit instead of just spinning your wheels, digging your hole deeper, and not getting anywhere in your online business.
Because of Dillard's Information product, we learned how to close the feedback loop and tighten up our business approach.
We put a little bit of cash into advertising, which in our case was as low as $10 a day. Then, we delved into building an email list, which we did by offering a product for free in exchange for people’s email.
Paid advertising to sell information products is an ongoing analyze and adapt strategy. In my case when I had created my first sales funnel, I tested Facebook Pay Per Click, also Google Pay Per Click, and even Pinterest Ads, which was how I learned that my cost per customer was much lower on Facebook.
Then I just focused on and maintained Facebook marketing because of the lower cost, which helps give me a higher profit.
Earn Residual Income With A Membership Program
If you want to really up your game in the information product business world, then you should add a membership program in the mix.
With a recurring revenue model, these memberships generate a consistent, predictable cash flow for your online business.
We offer a $1 trial for the first week, which then turns into a $37 monthly recurring membership revenue.
After they subscribed to the $1 membership trial, we give them a one time offer to have a membership for an entire year at a discounted rate of $197.
If you do the math, $37 per month for a year is $444. So by offering it for $197, makes it a $240 a year discount.
And here’s the kicker - it was a time-sensitive offer, so that gives them a sense of urgency to join because this offer will NEVER be available ever again.
We additionally offer a 30-day money back guarantee which makes it more difficult to say no. We make it super clear in our sales message that it is absolutely risk-free.
At the same time, people become more confident in us and trust us because of that guarantee. They know they can trust us, they know we don’t dupe people, and they love the perks they get from becoming a member.
They’re happy, and we’re happy.
And that’s the kind of business model that we want - where it’s a win-win for everyone.
The MOST important thing underneath everything that you do when you are selling information products is to develop trust, nurture and maintain a relationship with your audience.
Give them something valuable, something that can change their lives for the better, and always deliver on your promises.
When your audience realizes you’re legit, you’re actions reflect your words, and your sincerity in helping them is real, then they’ll stay loyal to you and spread the word about the positive things they have received because of you.
Not only do you gain a customer. You gain a large following that will be with you for the long haul.
This type of information product business model will give you the abundant cash flow you desire that will allow you to live the lifestyle you choose.
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Miles is a full time internet marketer who sells information products and a niche membership program with his wife, Melanie. Together they have created a lifestyle business that allows them true location independence and this blog where you get to see behind the scenes and see how they have built their online business from scratch.