5 Reasons Why Selling Information Products Is Better Than Physical Products

Here are the 5 main reasons to why selling information products will lead to a much more stress free life than selling physical products. Information products are usually digital and so this provides a whole host of key benefits.

1. Information products are very inexpensive to make, you really only need to put in your effort, time and have access to a standard computer and internet connection. Physical products can be very costly to produce as you have to manufacture and design a prototype, then order in bulk with potentially very high upfront costs.

2. Information products can be made as digital products. Digital products are made of light! So you can never run out of them and there are no expensive warehouse costs that you would have if you had bulky physical products. They are also way more greener and friendlier to the planet

3. Digital products can be downloaded and accessed immediately. Therefore no shipping costs or handling fees for your customer. You don’t have to worry about fulfilling orders either!

4. The mark up on information products can be extremely high compared to physical products. This is because the cost to produce is so low. For a high demand information product you could be looking at 1000% or more mark ups

5. You can give away digital products as a way to generate rapport and trust with your future customers and build a high quality list of prospects. This is often just too costly with physical products

With the current economic climate and reluctance of banks to lend money, it is very difficult to get started with a business that sells physical products. You can get started selling information products, whether they are your own or someone else’s completely for free, all you need is an computer and internet connection!

How To Sell Information Products For High Prices Online

Information that carries high value not just in monetary terms but also in terms of creating the quality of experience can command a high price from a prospective buyer. And not just that, information which can be highly path-breaking like ones revealed by Rich Schefren, Eben Pagan, Jeff Johnson and many more internet marketers is even more in demand within the marketplace.

Information is as much necessary today as food and medicine. Today, information is treated like medicine to treat pain in life. There are 2 types of information: one that increases growth and pleasure, another that eliminates or even decreases pain in life. Especially information that removes obstacles is known to be path-breaking and hence is known as “breakthrough information”.

Value can be termed in different ways by different people. For certain people, money is all that matters and therefore money is value to them. For another group of people, inner joy and satisfaction is all that matters which is value to them. Therefore, value can be tangible and intangible.

Therefore, one must decide whether any information sold by you is going to act as a healing agent or it’s going to increase/enhance the overall satisfaction of a person’s experience of life.

Now, information can be sold in various forms: audio, video, e-books, books, group coaching, webinars, membership site, forums, or even a one-on-one coaching program.

It’s upon you to decide how you wish to accelerate the results you want your target customers to achieve. But first, you need to be clear about what you want to deliver as a result of your training efforts. After all, information products are solutions that enlarge the vision of your target customers and thus help them become happier.

Therefore, the price of a product depends on the impact it carries to enlarge the vision of a target customer or probably, remove a large amount of pain from a person’s life. Lifestyles are very important and if your information product is going to radically enhance the quality of a person’s lifestyle then it is obvious you can charge a high price for the information you’re selling.

But most internet marketers who have successfully sold information products have been able to deliver at least 10 X or even 1000 times the price of their product. That’s what has made them successful. And they were crystal clear of who their product belongs to. Not every Tom, Dick or Harry is going to be your target customer. Every person has a unique personality and therefore unique needs so not every information product is going to be useful to each and every person on the planet.

Your product has to be different and unique from all other vendors so you stand a chance to build a brand around your product.

Why You Need To Create Your Own Information Products

Let’s face it there are a lot of alternatives to creating your own information products. You can sell someone else’s products as an affiliate. You can sell someone else’s products as your own. You can sell reviews of other people’s products.

But the best way to create an information product business is by creating your own infoproducts. Everyone agrees. Anyone who is making serious money creates their own eBooks, webinars, seminars and recordings.

But why?

In this article I’m going to share with you three reasons that I believe mean that you need to create your own information products in order to be successful.

1. You need to practice and grow to be an expert

One of the defining characteristics of an expert is that they have knowledge and experience beyond that of the average person. Knowledge is made up of two parts… facts and understanding. Facts you gather by research. Understanding you build by trying to put facts into some sort of order. Creating your own products is one way of being forced to do both those actions. Research is frequently a major portion in the creation of courseware. Organizing the facts is always a major portion in the creation of an information product.

2. You need to be perceived as an expert to sell high profit items

In order to move from selling low price, low value items into high profit items you need to be perceived as an expert in your field. After all, that’s why people are willing to pay the higher price of high profit items like coaching. There is only one way to be perceived as an expert — give your customers information that they want and need. Now there are, arguably, ways to do this without creating information products. But personally I believe that an information product is an information product because of what it is, not its price. In any case, free eBooks or webinars are amongst the best ways to convince your audience of your expertise. Articles and YouTube videos are great ways to interest a large number of people. But it takes larger learning content products to convince customers of your value. (And personally, I would argue that articles and YouTube videos are also learning content products if they teach).

3. There’s more money in products you create yourself.

Creating information products costs money. And quite reasonably, those who create the learning content expect to get the biggest portion of the sale. By creating the courseware yourself you’ll get the biggest portion of the sale. But there’s more than just that. The largest priced products can’t be easily resold. Things like coaching need to be delivered by the information product creator. If you want to sell high profit, high price products you need to be creating those products yourself.

How to Create and Sell Information Products

There is no question that one of the fastest growth industries is the creation and marketing of learning content products. The so called information products or advice industry. If you’re not already selling an information product as part of your business you are already falling behind!

But there’s one problem. How to create and sell information products effectively and efficiently?

After all if you are going to add learning content products to your product mix you need to know how to create them effectively and efficiently. And most importantly — repeatedly. In this article I’m going to introduce you to creating and selling information products. This is a short article so I’m somewhat limited to an introduction.

The first thing you need to know is that a learning content product is not a sales product. They tend to be longer and more complex. They have a different focus and purpose. And the process for one will not work for the other. That’s why you have writers and copywriters. Would you want to pay and then read a book like War and Peace that was just a revamped advertising copy for a games manufacturer? Probably not.

Secondly you need to realize that you need a formal product development system for creating information products. One of the best consists of nine principle steps in two sections.

The first section defines your product line and consists of:

1. Decide who is your customer

2. Determine their problem or other motivator.

3. Systematize a solution to that problem.

4. Plan out the products needed.

The second section then creates an actual product:

1. Prepare a detailed design of the product (aka an outline)

2. Review and revise the detailed design.

3. Create the product itself.

4. Review and revise the product.

5. Prepare the product for sale (aka format or publish)

Of course once you’ve created the product you need to actually sell the product. This is made much easier by the above system. By starting with your customer and then developing a product line based around a system which solves one of their current problems you’ve almost ensured that your audience will buy. After all, you are solving one of their key motivators with your product. You’ve solved a current problem they are experiencing.

That means you have motivated buyers waiting for your product. All you need to do is find them and show them what you have for them. The result will be people who are lining up to buy your product.