Why I Prefer Selling Information Products As My Business Model

Why I Prefer Selling Information Products As My Business Model

Why I Prefer Selling Information Products As My Business ModelPeople are hungry for information.

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.

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Ideas For Creating Information Products - Selling Your Skills

 

If you'd prefer to listen to this content from the video above, play it or download it from the podcast episode below.

Perhaps you have a unique skill that you want to make good use of, and you've realized that creating information products from what you know is a practical route.

Possessing a skill is your ticket to ride, and you have to find out how to create information products out of what you know so you can market it and start building an audience, creating a business out of it.Click To Tweet

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

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!

Marketing Your Information Product With Email

Marketing Your Information Product With Email

When we first started our information product business, we wrote an email series of 7 to 10 emails for our great autoresponder campaign.

These emails are made to be personal, not copywritten for your information product only; otherwise, you will lose.

Just like with any other online business model, you have to develop a close relationship with your audience.

Some people will buy from you when they first meet you, but most will need to gain trust in you before they're even willing to hear what you have to say.

So you have to find a way to connect with them and let them know that you can deliver results to them and they can benefit from what you have to offer.

The formula of these email campaigns is give, give, ask or give, give, give, ask, etc.

You have to provide value, that will help your customer avatar in their day by solving significant problems and providing encouragement and motivation.

Every 3rd, 5th, or 7th email, or so you have earned the opportunity to offer one of your information products and services or a product or service you are an affiliate for to your audience.

This consistent giving of value to your email list will create engaged fans of you.

Currently, we send a specialized new email about three to five times a week.

When you do this email marketing thing the right way, over time you'll have great emails you will want to add to your welcome email series.

Our email autoresponder series consists of about 30 automated emails now. Each new subscriber gets to receive these weekly email broadcasts a few times a week.

You’ve heard the money is in the list.  This is absolutely the case for your information products business..

That is why building your email list is one of the five steps an online business needs to take to be successful.

There are two ways to gain email subscribers that will dictate how you will sell your information products online.

Learn more about email marketing in How To Craft Your Email Autoresponder That Gets Results.

How to Sell Information Products Online

How to Sell Information Products Online

When deciding how to sell information online, one limiting factor is your budget.

There are three main scenarios you will face at the start of selling information products online. You can start for free, with a limited amount of money, OR you can go the funded startup route.

In our case, we were fresh out of college, and we were broke. So we decided to pick an information product business model we could get up and running with no money.Click To Tweet

 

Selling Information - Our Content Marketing Online Business Model

Selling Information - Our Content Marketing Online Business Model

Selling information products via content marketing is one of the best online businesses to start with no money.

You can build and host a WordPress website for your information product business for about $60 a year.

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.

What wasn’t free was all the time spent on doing the keyword research, creating content, spending time to learn SEO and optimizing our posts for search engine marketing.

At that point in our lives, we decided to stick with that method since we needed a better alternative to Facebook advertising and made time to spend doing it.

How to start an Information Product Business Online With Content Marketing

  1. Know and find your audience
  2. Become a content creator
  3. Utilize Keyword Research and Learn SEO
  4. Capture leads with a Pop-Up tool
  5. Dominate search engines with a full content marketing strategy
  6. Email Market the right way

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

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.

It used to take hours and even days for someone to discover our content and join our email list. Now it only takes minutes for someone to go through the process and become a customer. Click To Tweet

Before, we wouldn’t even offer them anything to buy until the third day they were on our list.

If I started my online business over again today, I would do the content marketing, because it is a fundamental to a successful business online.

But I would scrape $5 dollars a day together and master the Facebook Advertising $5 a day strategy.

How to Start Selling Information Products with a Sales Funnel

  1. Create an Excellent Lead Magnet
  2. Craft a Great Opt-In Page
  3. Create a Sales Funnel
  4. Learn How to Advertise on Facebook
  5. Email Market the right way

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

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.

Why?

Recurring revenue.

With a recurring revenue model, these memberships generate a consistent, predictable cash flow for your online business.

Our information product business model now includes a sales membership funnel.

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.

You can see our online membership model in My Six Figure Membership Funnel Hack.

Start Selling Information Products Today

Start Selling Information Products Today

It all starts with the types of information products that bring value and can easily be expanded upon on your part.

Your business model could revolve around a learned or acquired skill or the desire to help people. You also want to make some profits out of it.

Make email marketing and list-building THE marketing priority in your information product business.

Start creating content either for search engine marketing, or your sales funnel, embody the 5 fundamentals of a successful business online, and create your best online business by selling information products.

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.

About the Author Miles

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.

Leave a Comment:

2 comments
adimicahagyo@gmail.com says June 30, 2018

I love it. I created an information product for women on DISCOVER HOW TO STOP HAIR LOSS AND BREAKAGE IN 28 DAYS. I studied many materials on creating sales copy, I watched your videos including yours on Facebook ads and I learnt the basic. I did my audience targeting well because I learnt fb ads almost a year ago when I was selling physical products

I have been building an email list (300 subscribers now)

It is 1 month without even 1 sale.

I have also exhausted my cash

Please I should be grateful if you could assist in any way to push me ahead because am really determined to make massive sales beginning from July

I'm Micah one of your new subscriber from Nigeria, West Africa

Thanks

Reply
    Miles says July 2, 2018

    so my biggest question to you… Are you a woman who stopped hair loss and breakage? Like… Is this a real thing? Did you actually have the problem and actually solve the problem and now you're actually helping other real people who have the problem solved the problem because you know for a fact you were able to solve the problem?

    If not, the lack of integrity here is the problem. Not the niche, not the ads.

    If you have, more videos and blog posts about your story is where I would start! mastering Facebook pay per click ads is a very expensive game. The learning curve can cost people tens of thousands of dollars. I prefer content marketing through blog posts, videos, and podcast episodes

    Reply
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