Three Questions You Must Answer Before Creating an Info-Product
Hi, Cindy Cyr here, with the second in my series on writing for the info-marketing industry.
Yesterday I talked about why info-marketing is one of the best, most lucrative, and copy-hungry niches to write for.
Today I’m going to pull back the curtain and show you how info-products are created and how you can use this knowledge to generate a substantial income for yourself.
We won’t have the space here to cover absolutely every single detail … but we can certainly tackle the basics.
First let’s look at how information marketing is defined. The president of the Information Marketing Association defines it like this: “Information marketing is responsive to and fueled by the ever-increasing pressure on people’s time. It’s providing solutions to problems in a convenient and useful format.“
The formats used to deliver information products include books, audio programs, videos or DVD’s, magazines, newsletters, e-books, membership websites, teleseminars, webinars, tele-coaching programs, seminars, conferences, and so many more.
Now before an info-product is created, it’s important to do research to determine what product to create. Start by asking the following three questions:
1) Who is your audience and what problems do they face? The single most common reason information marketing businesses fail is inadequate research when it comes to their target market and the problems they face.
The key is to identify an audience that is fed up with an everyday problem and desperately needs help solving that problem.
Here are a few questions that will identify your ideal target audience:
- How big is the market? The larger your market, the larger your opportunity. (Although big money can be made in small markets, so don’t rule them out.)
- How easy is it to reach this market? Are there trade associations, publications, or other organizations that already target this market, which would make it easier and less expensive to reach?
- What are the market trends? Every industry has trends to watch. A growth trend is a better target than a shrinking one.
- How much does the target typically invest in information? A target audience that will invest $5000 is more valuable than an audience who is only willing to invest $100.
Once you’ve identified your target market, the next step is uncovering their biggest problem or concern. The best way to find this out is to simply ask.
Let’s say your client is a plumber who has figured out a system for consistently making seven figures a year while only working 20 hours a week and he thinks this might make the basis for a good info-product.
Your research uncovers: A trade association for plumbers that is growing 20% year over year, on average plumbers invest 10-15% of their annual income into training, and their number one complaint is they work too hard for too little money. This could be an ideal target for your client.
2) What should the offer be? With this question your goal is to find a unique solution that solves the target market’s problem. That unique solution is what will become the basis of an info-product. In the example above, the offer would be your client’s business system that allows him to make so much money while working virtually part-time.
Finding the unique solution isn’t that difficult to do. It’s a matter of identifying that one thing your client does better than anyone else. I’ve found using mindmaps helps tremendously.
3) What is the best way to deliver your solution? Next you’ll need to determine what the best format is to deliver your solution. This will be based on what your target audience prefers and which format gives the best possible chance of making a profit.
For example, would your audience prefer a coaching program, a seminar, or a home study course?
Pick a topic that interests you and do the research to identify what a good target audience is within that niche, what their biggest problems are that they want to solve, and what format they would want the solution delivered in.
Now that you know the basics for creating an info-product, tomorrow we’ll take a look at the real secret to info-marketing success—the marketing process.
Let me know your thoughts, comments, and questions below.
Dan Kennedy’s Writing for Info-Marketers Training and Certification Program
Copywriting-great Dan Kennedy is ready to take you under his wing, to show you where to find the best clients and to train you to write results-getting copy that will keep those clients coming back. Learn More »