When you make the decision to market information products on the ‘net, your first step is in conducting some niche research to see which target audience could provide you with a virtual goldmine of profits.
You can’t just come up with a single idea for a narrow niche audience and expect that to be enough to deliver financial security for the long-term. Instead, you want to tap into a niche with endless possibilities, or at least enough to make your product development worthwhile.
Let’s say you decided to create a wedding planning guide in eBook form as your first information product. If you’re new to the business, then you might instantly think of creating a massive info product that covers everything in detail, from A to Z.
But let’s look at it from a marketer’s business point of view. You are going to put the effort into driving traffic to your site and will hopefully have at least a 2% conversion rate for your information products. Why waste that effort of time and advertising money on a single sale of $47 when you could easily turn that customer into a lifetime profit stream?
How can you do this? Information products serve the needs of your audience. A bride and groom have many issues they want to consider, and you can create dozens of guides that focus on things they need to know, such as How to Have a Destination Wedding at Home where you discuss how to hold a theme wedding in your backyard. Or, A Guide to Seasonal Flowers for Brides.
Sometimes, a single comprehensive information product is the way to go. But you also want to cater to the needs of your niche who don’t need all of the other stuff, just what they, in particular, are seeking — like information on wedding cake flavors or homemade wedding favors for brides on a budget.
Once you deliver one outstanding information product to your customers, you’ll have them on your list where you can then market your backend (follow up) products to them. This is where the true money in Internet marketing lies because you don’t have to spend money to attract that customer — they’re already in your database.
Make sure that before you implement your information product ideas, you check to see if the niche provides you with the opportunity to branch out and develop an entire line of products dedicated to helping them lead a better life.