The buzz online is that if you create a brilliant information product, thousands of people will buy it and all you have to do is sit back and collect passive income.
First, let’s be clear about the definition of passive income. For our purposes, passive income is money you make from a product or service that does not require your one-on-one time. For service-based solopreneurs, examples of passive income include:
Which ever path you take towards generating passive income, there are at least four phases you want to have marketing ideas for:
Pre-Launch marketing is all about generating interest from your audience for your new infoproduct before you launch it. Think of it like inviting people to a birthday party: You send out invitations way before the actual party date to spark anticipation, get a head count, and give invitees enough time to plan accordingly. This is what pre-launch marketing does for your product, and in an ideal scenario, it starts before you even create it.
Launch Marketing is focused on the official launch or release of your product to the general market. Advertising, targeted, email campaigns, affiliate marketing and cross promotion are all part of this phase.
Ongoing Promotion is your strategy for marketing your information product after the launch. Will you do quarterly email marketing campaigns? Or do you have a plan for updating the product once a year and doing a big promotion then? Unless you want your product to gather virtual dust, you’ll want to have a plan for keeping it in front of potential buyers.
After Sale Follow-up marketing is about ensuring customer satisfaction. I count this as part of marketing because it helps deepen the relationship with your customers. Your follow-up marketing can include surveys, calls, hand written notes, and even requesting testimonials which you can use for your ongoing promotion.
There is nothing passive about marketing your information products. Without actively marketing your products, how will your intended audience know what you have to offer? And how else will your products be profitable if no one is buying them? If you are not willing to put a plan in place for the entire marketing cycle of your product, you are not ready to invest time and money in creating an information product.
Tai Goodwin on a mission to help 10,000 women entrepreneurs create more joy and wealth in their life and business. She's the CEO of Aligned + Bankable and creator of the Bankable Brilliance Course. An intuitive business growth strategist and teacher, her specialty is helping clients create bankable business models that allow them to increase their impact and income without burning out. Tai is a former corporate trainer with a master's degree in instructional design and over 20 years of experience designing course, training programs, and certifications. She is also the author of Girlfriend, It's Your Time and founder of Brilliant Business Girlfriends.