One of the questions my clients ask is whether or not they should create an information product for their business. My answer to them is that it depends.
Information products simply contain elements of your work contained in a book, eBook, self-study guide, eCourse or recordings.
People consume information in a variety of ways and often appreciate that they can have access to you or what you know without having to work with you personally.
Information products can be a great way for customers to learn more about your work and receive access to it at a reasonable fee.
But when should you consider offering an information product? The answer depends upon your business model.
If you have a newer business or one with a small mailing list then you need to know that even if you have a sensational information product it will not generate much income for your business. You’ll likely spend a significant amount of time creating it and not see the return on your investment.
Does that mean you shouldn’t create one? No, not necessarily. In fact one can be entirely beneficial.
A smaller information product, such as a 60 minute audio or 20 page eBook can be a great first entry product for your business especially when you have new prospects that are just getting to know your work.
Think about it from this perspective, would you invest in someone without first getting to know more about them and the solutions they offer? Probably not!
So what’s a way that you can offer a slice of what you do in a small information product? Can you solve just one problem for your prospects? Think about one of their greatest challenges, the problem them keeps them from falling asleep at night—and then come up with your solution to it. From there you can record an audio or write an eBook or even combine the two for a slightly more expensive product.
You can easily create your own products and sell them on your website using Paypal, e-junkie, clickbank or your shopping cart link.
The other great reason to create a small information product is to provide it as a compliment to the work you offer.
I created The Solopreneur’s Business and Marketing Growth System because I knew that this product would benefit anyone looking to learn how to put together a business and marketing plan and when I start working personally with my clients I like to offer them access to my ideas and fast results. The growth system allows them to develop their ideas, work out a plan and then when we begin our work together iron them out and make them possible.
Do you have a low cost way for newer prospects to work with you? What can you create that will allow them to get to know you and offer a solution to one of their problems at the same time?