Thinking about adding an infoproduct to your offerings? One of the first questions to answer if you are planning on selling information products is what kind of product do you want to create. This needs to be answered in two ways: Choosing your product’s purpose and then deciding the best delivery format. Many people make the mistake of choosing the format first – they fall in love with the idea of having an ebook or video series and jump right into product creation. But remember: failing to plan is planning to fail.
Let’s start by taking a look at your product’s purpose, or how you will use it. Think about what’s missing in your sales funnel. Do you need an outstanding opt-in offer? Do you need an entry-level product? Or maybe you need a high-ticket program to enroll your VIPs in. (Click here to see a sales funnel example.)
How to determine the purpose of your infoproduct
Are you struggling with how to monetize your expertise and make your brilliance bankable? Use the following list to help you decide the purpose of your infoproduct. Make your decision based on what you need most right now in your sales funnel, not what you are hoping will happen.
Create a free opt-in offer if:
- Your email list is weak and it’s hard to attract VIPs (Very Interested Prospects).
- You need to increase your visibility and credibility with your ideal audience.
- You have created a high-investment program or product but don’t have an entry level product that people can invest in and get to know you, your work, and more importantly your results.
Create an entry-level infoproduct that converts your leads & browsers to paying clients if:
- People sign up for your email list, but then you don’t have anything to offer them after that.
- You have lots of free consultations and find that many of your VIPs are not able to afford your one-on-one services (You may also need to find a new ideal audience, but that’s another conversation)
- You have a solid online presence but nothing to offer them but free content or opt-in offers.
- You get great turnouts for your webinars or teleclasses but fail to generate sales because you don’t have a product to promote.
Create a high-end product or program if:
- You are maxed out on time for one-on-one clients and burning out trying to serve everyone.
- You have have lots of content that your audience is hungry for, but it’s gathering dust on your hard-drive instead of helping you generate passive income.
- You rock the stage at live events but don’t have anything to offer them other than your business card.
Next we’ll tackle the other question you’ll need to answer about the kind of infoproduct you will create: the best format.