Information products have long been, and will continue to be, a valuable business model. You can live a wealthy life selling information products. It can be your only business model or you can market and sell information products as a way to supplement an existing service-based business or another model. There is also any number of options for info products, ranging from books to online video classes and everything in between.
While it’s a profitable and effective business model, there are still many mistakes that you might make which can have an impact on your bottom line and your success. Knowing these mistakes up front will help you avoid them. So let’s take a look at the most common information product myths and mistakes.
#1 No Real Sales Funnel
Many information marketers have somewhere between one product and several dozens. These products are often somewhat random. That is to say, they don’t support one another. A customer can enter and exit the sales funnel at the same point. To really capitalize on information products, you want to either keep your customer in the sales funnel for as long as possible or motivate them to make multiple purchases in one visit. That requires tactics like cross-selling, up-selling, and package or bonus offers. Sit down and decide where your customer enters your funnel and how you can work to keep them buying and making repeat purchases.
#2 Not Marketing Your Information Products Enough
It’s not enough to send out a weekly email or to publish a weekly blog post. To really get traction with your audience and to motivate purchases you want to think more in terms of daily marketing. Now that doesn’t mean you have to hit your prospects hard every single day. What it does mean is that you should do some type of marketing every day. That might be a blog post on Monday, a social media post on Tuesday, and an email on Wednesday. Get out your calendar and start planning.
#3 Striving for Perfection
Some people spend years working on information products. It shouldn’t take that long. By the time it’s ready to sell, your audience has probably moved on. Nothing is perfect. Spend more time on the front end, making sure that your product solves a problem. Create it quickly and get it out into the hands of your customers. Yes, it should be good. You want to keep the respect and trust of your customers. But it doesn’t have to be perfect. And here’s the great thing about digital products… you can edit them and make changes as you go.
There are many other myths and mistakes that information marketers make, but these are the biggies. Avoiding these three will set you well ahead of your competition and help you start earning the profits you desire. We’ve created this free checklist to help you effortlessly plan and create your next information product.
