There is nothing better than being able to sell your own product. The problem is, how do you create a product that is actually sellable?
With the advent of the internet, product creation has taken a whole new aspect. Whereas in the real world, creators vie for ideas that are tangible and physically deliverable, the web allows creators to package information as profitable merchandise. It is the age of information after all, and information is one of the primary factors that drive online dealings.
Information products can take many forms. You could publish your own e-book. Or if you wish to come up with something less daunting, you could distribute your own special report. Electronic magazines, or e-zines, can also be sold through subscription. All of these are effective methods of conveying novel information.
The best thing about it is that you don’t even have to write them. If you simply don’t have the time to come up with an e-book, a special report or any information product, you could hire someone to write them for you. Ghostwriting services are abundant on the net.
But we’re getting way ahead of ourselves.
In creating a product, the businessman is confronted with many questions that more often than not derail the creation process. Hence, here are five answers to the five most common questions that an internet marketer encounters in information product creation.
- What’s the first step in creating a product?
The answer is simple: you need an idea. Coming up with that idea, however, is the difficult part.
You have to realize that everything is a product, as everything is information that, when packaged correctly, is desirable to certain people. Try to update yourself with the latest trends. Read a lot of books and newspapers. Be on the lookout for things that might inspire a deeper study.
Also, think in terms of titles. For example, you’re reading the papers and an article therein reports of unique wedding ideas. Think big. Think flamboyantly. Apply these thoughts to titles. You should come up with something as grand as “Ten Truly Magnificent Ways To Celebrate Your Wedding,” or “Ten Enchanting Ideas To Make Your Dream Wedding A Reality.”
Remember, product creation is partly driven by packaging. Titles add so much to the overall feel of the product. And conceptualizing a title would assure that you would be able to keep your focus during the rest of the creation process.
- Where do I get content?
Information products are naturally carried out through content. If the content is good, the information would be excellently conveyed. There are three ways to get good content.
First, write the product yourself. If you have the time to do so, then no one is better suited to convey the idea than you.
Second, hire a good ghostwriter. As we’ve discussed earlier, ghostwriting services abound on the web. Look for a good and affordable one.
Third, you could try public domain information. These are free to use, and they are easy to find for those who actually try to look for them. Basically, all works before 1923, and some works before 1978, are considered public domain information. You could reproduce these without having to pay any royalties.
- How do I package my product?
Selling them as mere .doc or .txt files would seem amateurish and unattractive. The usual format used for information products is .pdf or .exe. Of the two, .pdf is more widely used, but .exe offers more eye-grabbing features.
Converting your products into .pdf is simple. There are many free resources available on the net that would allow you to do this. Creating a .exe file, on the other hand, would need some programming skills.
- What price should I put on my product?
Basically, there is no limit as to how much you could price your product. If you feel it is worth $500, then sell it for $500.
Some are afraid that by pricing their products at a high amount, marketability would suffer. The truth of the matter is, it could go either way. Assigning a high price for your product may give the impression that it is something valuable. This would attract potential buyers.
Additionally, you could add more value to your product by packaging it with freebies. An e-book with two accompanying software programs, for example, would perfectly justify a high price that is attached to it.
- What if my product has run its course?
Even if you feel that you have squeezed every possible profit from your product, you could still earn from it.
Try selling its master resale rights.
This simply means that instead of selling your product, you’d be selling the authority that would allow others to re-brand and resell your product any way they see fit. This shouldn’t concern you anymore as you’ve exhausted all the markets that would buy your creation. Let other people worry about marketing it for further profit, but do take their money as parting gifts for a product that has served you well.
Additional Resources: 50 Proven Informational Product Ideas