One question I hear repeatedly when people are trying to build their own information marketing business, which means to write a book, write a report, and create videos, they experience a confidence problem. They worry if their information product is good enough for someone to pay US$47 or higher, or for someone to pay $29 per month or more in order to gain access to this information.
These people might be guitar instructors, language instructors, real estate instructors, ‘self help’ promoters, and there are a few easy metrics to look at to decide if your information product is good enough.
First of all let the market decide and see if they buy your product, which seems kind of backwards, but I will explain it in a minute. Also, look at what your competitors are teaching and simply do a better job marketing and teaching your product than your competitors and put together an unbeatable offer that someone would, for lack of better term – be stupid not to accept.
This seems kind of backwards, but if you’re worried about your information product not selling, what you need to do is finish that information product, get it out there, get some traffic, get affiliates, get people to look at the offer and then look at your web page scientifically. Look at your sales letter so you can honestly say that after getting thousands of clicks to your website, your sales letter is converting at less than 1%, and no one is buying it or now I have to market it a little bit differently.
Many times I will put a product out in a product launch, it won’t sell and I will have to go back to that traffic, or ask my subscribers what they need help with. Many times we make a product because it will be fun and not because we are actually helping people.
For example, if you created a report with a lot of dieting tips, is that really helpful or would it be better to create a 30-day course on how to lose 30 pounds by only exercising five minutes per day. That is a real problem that someone needs help with, but you need to put out your product as is for now to figure out if people buy it or not and then you might need to change the marketing or change the contents of that report slightly.
In order to save yourself a lot of time and aggravation also look at what your competitors are teaching. If you want to sell a course on guitar instruction, how does everyone else position guitar instruction ? Do most of your competitors sell into recurring membership sites, are these single payment products, written reports with pictures, videos, do they present guitar playing as something that is fun or do they try to market it as a skill that someone might need for a performance ?
Look at all these factors, look at the kind of product, how they market it, what’s in the product, and the price point so you can figure out if you need to price high or low. And now all you really have to do is simply do a better job teaching and marketing than your competitor. Sure you might charge a slightly higher price, but maybe you can throw in some additional training or better training or better tools and templates to help people get the job done.
One thing I have found is that many information marketers will sell several small reports or several small pieces, but what if you were the person to sell the big giant course that solved all their problems in one place. So if you’re worried if your information product is not good enough, then let the market decide, examine what your competitors are teaching and create an unbeatable offer that everyone in that niche will want.
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