Why Should People Invest In Your Information Product
If you’re thinking of creating your own information product and you’re not sure whether it will be a hit, read on. The process of creating an information product will take serious effort. Naturally, you wouldn’t want all that effort to go down the drain because your product couldn’t attract customers. So, it is important to develop your product with the RIGHT value proposition. Don’t know how? Follow a few simple rules, and you should be good to go:
Know your market’s “pain points”
To provide REAL value – you need to understand your market’s pain points. If you have years of experience in your field – this should be relatively easy to figure out. If you don’t have much experience, you can still do it. Let’s look at both.
I have substantial experience in my field:
Great! Identify the common questions that your customers/clients ask! You may have to start writing these down. The more specific the better. Now take it one step further. Gather feedback by being curious and asking them what they struggle with the most.
I don’t have much experience in my field:
That’s ok. There are lots of resources out there. One method is to go on Amazon.com and find the best-selling books in your field, and then reading the reviews – ESPECIALLY the critical reviews. You can also check out sites like Reddit and other forums related to your field – these help you identify the issues that people are most frustrated with and most vocal. You can also start gathering feedback by asking your client/customers about their pain points.
You don’t have to be original. Just authentic.
A major reason why information products fail to do well is because they’re not any different from what already exists online. People will appreciate candidness and honesty in your product. Share personal stories. So do away with the fluff, and come up with something that isn’t your standard run-of-the-mill material. Don’t use unnecessary ploys to get sales booming. If your fitness routine doesn’t trigger a 5 lbs weight-loss in two weeks, don’t make that claim. If you scored a perfect score on the SATs and create an online course, be honest about how others can gain from your experience. Promise what you can deliver so customers don’t get disappointed and disgruntled. People want useful content, so being candid with your audience will provide your customers a much-needed freshness.
ABT. Always Be Testing
Before you create a full-blown comprehensive course (which can take several months, and even years), start with some micro-courses. Read this post on micro-courses if you’re not familiar with the concept. These bite-size courses can give you a chance to see if you’re identifying the right pain points and you can learn a lot by asking for feedback, and then using that feedback to improve your offerings.
Don’t make the assumption that you have to put ALL of your knowledge, skills, and experience into ONE product. For years, the mentality of “I want to write a book” has become so pervasive that it automatically became associated with online courses too. Don’t approach online courses like writing a book. Focus on ONE chapter instead. A micro-course is similar to writing one chapter in a book. Over time, you may have DOZENS of micro-courses that address very specific issues. That’s typically what people want. Give it to them.
Follow these recommendations seriously, and you will give customers every reason to purchase your product. Keep in mind that different products sell differently, and creating a product that is perfect for a small niche may not be a good fit for the general public. That’s okay. Be true to your product and your follower, and money will follow.