It’s one thing to create digital information products. It’s something completely different to generate revenue from your products.
In the years I’ve successfully created and made money from information products, I have repeatedly heard Four Big Lies.
LIE: Anyone can create (and make money from) an information product.
FACT: Most people either never start, or if they start, never finish their product. If you don’t finish it, you don’t make money.
LIE: All you need to do is create the info product and people will buy. It’s the Field of Dreams Syndrome – build it and they will come.
FACT: Building it in and of itself won’t make you money. Once you create it, you have to promote it.
LIE: You can make money at the press of a button.
FACT: Although there are some experts making boatloads of money at the press of a button, what you must do is have your systems in place to drive traffic and convert the traffic from tire kickers to buyers.
LIE: Get a bunch of people to become your affiliates and they will sell your stuff.
FACT: Only a small percentage of affiliates actually do anything. There are ways to increase the engagement of affiliates, but as a general rule only a handful actually do anything.
Before you can generate revenues you need to address these four lies. Additionally, you must do all you can in order for potential buyers to know your information products exist.
Before they know your products exist you need to know who they are – specifically. You absolutely must have a clear understanding of who your market is and is not.
From there you need to know what challenges and problems they have in order to provide a solution they need, want and are willing to pay for.
Once you create the solution you need to get them into your sales funnel. Anyone who has been online for any length of time understands the sales funnel. Yet, not everyone implements an effective process.
In essence, the sales funnel is exactly what it sounds like; a method to funnel prospects and leads into customers and clients. A free offer is often the start of the process.
Although not everyone will enter your funnel by way of a giveaway, the majority will. Your prospective buyers request what is referred to as an ethical bribe; a free offering. In return for your gift they are asked to give you their name and email address.
This is a low risk opportunity for those interested in what you have to offer. Your offer can be an eBook, eReport, MP3 or short video.
However, it takes more than a free offering for people to want to continue to do business with you. Your job is to build ongoing value for your subscribers. As you build value, you build trust. From there you can make a paid offer.
This is where lots of people choke. They have no problem giving information away, but for some reason, when it comes to asking for money, they hesitate.
In the years I’ve been consulting and mentoring, I can’t tell you the number of people who’ve complained about not making any money. When I asked what they were selling many of them said they had nothing to sell! This makes no sense whatsoever. How in the world can you make money if you have nothing to sell?
The number one reason people don’t ask for the sale is fear. Fear of rejection and fear of refund requests. There are ways to minimize both.
Rejection will be minimized when you market the right information products and services to the best market for your offers. If you’re just starting out you may want to begin with low priced products in order to fully understand the process of selling online.
There are a number of essential elements to the process including sales pages, shopping carts, merchant accounts, autoresponder messages, and efficient follow up.
Another part of selling is the refund process. Regarding refunds, as much as we would like to think no one will ever ask for their money back, it does happen.
To increase conversions and trust and minimize refund rates do the following:
1. Be visible to your market. The more visible you are the more people tend to trust you. Visibility can be achieved by way of blogging, guest blogging, article marketing, interviews on web radio, teleseminars and telesummits and strategic social media activity.
2. Create the best information products you possibly can. Make the content extremely high value to the end user. Whether it be a five page report or a ten module home study course the content absolutely must be something you are extremely proud of.
3. Offer a rock solid guarantee on your information products. Have the confidence to stand behind your product with a 100% money back guarantee. Granted, there are some people who abuse refund policies, yet most consumers are honest. They appreciate the fact you are willing to offer a great guarantee.
Be clear on what your refund policy is. Don’t make it confusing or a bunch of mumbo jumbo. Make the process of understanding your guarantee as clear as possible. Will the refund be in cash or credit? What is the time frame for refunds? This must be spelled out very clearly before someone makes a purchase.
I’ve talked to many newbies who are concerned they will have extremely high refund requests. Truth be told, if you fear a high return rate you need to determine if the quality of your products is high enough.
The guarantee information outlined above is for information products, not necessarily services rendered. That is a completely separate discussion.
Although many people think the market has been saturated with too many information products, in reality we have only scratched the surface with what is possible. There is more opportunity now than ever before.
With the right vision, plan and implementation strategies you can make an incredible living by creating and selling information products.
Just one thing has to happen; you have to start right where you’re at.
To learn how to make your first $100 Online click the image below.