Selling Info Products in the Information Age
Over thirty years ago, when I started my little mail order business from my college room, there were already people selling information by putting small ads in the classified section of magazines, which seem to have already disappeared.
You would send a few dollars and a SASE (self-addressed, stamped envelope) and you would get your information in about ten days. Popular Mechanics, Handyman Magazine, Popular Photography and lots of other magazines carried the ads.
Most of the information that I saw at that time I thought was very technical, like how to make gasohol or other energy alternatives and, like most people, I didnt think I had any particular knowledge that I could sell.
Creating Info Products
But in a way I was also selling information in the form of woodworking plans. I thought of the plans more as products than as information, but they were information also. If I had made the connection back then, I couldve started selling all sorts of products and could have finance postgraduate school.
When my wife started teaching, she would get myriads of research papers from her students. Once, when she was grading papers on a how-to assignment, it hit me. The reports were information products on topics from how to cook for 100 people to how to do certain exercise routines. All I had to do to create my own info products was to do a little research. The college library was packed full of information and they even offered training on how to do all types of research through books, periodicals, and microfilm.
How Can I Sell Information in the Information Age?
Isnt all the information already available for free online? Maybe, but back then all the information was already available for free at major libraries. There is always a market for information.
Woodworkers will always be looking for woodworking plans, particularly around Christmas time, when they want to make a few gifts for family members.
Cooks will always need recipes and the more topical the collection the better.
How-to information is probably the most common type of info product still sold today. Info products in this category include things like how to fix your own credit to how to make your own solar panels for your house.
How to Price Info Products
If the information you sell can be of significant advantage to your customers, then the price of the information is associated with the benefits rather than with the cost of producing it.
People are usually enticed by secrets, but you could argue that everything that you dont know is a secret to you. The way you present your information can also determine the value ascribed to that information.
Information is sold based on perceived value, but also on comparative quality. In the information age, competition is fierce, particularly since you are dealing with a world-wide marketplace. You have to price your information according to comparable info products in the marketplace.
If you sell an eBook for $97 that other marketers are now giving away as free incentives to join their lists, then you may have a problem selling other products to the same customers and your returns may be substantial.
With a little extra effort, you can make sure that your info products offer greater value than the price people pay for them, and everyone is happy.
Why Selling Information Products Works
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