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Information Products - Is There Money to be Made?
Information Products E-book Cover
The Information Age
Everywhere you look there is information. With the invention of the internet, information is much more readily available than ever before. We used to have to rely on trips to the library or bookstore to get the information we needed, but now it is at our fingertips. A few clicks of the mouse and we can have almost any information we need.
Books are easier to access, as they can be read on computers, e-readers and even smartphones. Anyone who is searching for the answers to questions or solutions to problems simply has to type in their question to a search engine and within seconds they have access to thousands of possibilities. Sometimes the hardest part is distinguishing which is the best route to take in terms of which product to buy.
What does this mean for the average writer?
Before the internet era anyone wanting to write had to submit query letters, proposals and very often received several rejection letters before they would be accepted. Oftentimes the letter of acceptance never came. Some very talented writers were never given the opportunity to share their talents with the world because they were unable to persuade the publishing house they should be given a chance.
With the internet era, the average writer has many more avenues and possibilities. There is the growing popularity of self-publishing through Amazon, Kindle, Lulu, CreateSpace, Smashwords etc (which I have spoken of in other Hubs and articles), as well as simply creating an information product and marketing it.
This means the average writer now has an opportunity to show the world he or she is knowledgeable in a particular niche (or several niches). This in turn leads to the production of information products.
Information Products Poll
Have you ever purchased information products?
What are "information products"?
At this point you may be wondering what I mean when I say "information products".
Information products are e-books, CDs, DVDs or any other medium which teaches and informs someone how to do something. Many writers will create an e-book which basically solves a problem, then will add to that e-book by offering courses, workbooks or even seminars. The seminars are popular when it comes to niches such as SEO, social networking, marketing, consulting, etc.
For example, an expert in social networking may write a book, then hold a workshop explaining the ins and outs of social networking. The workshop will often command a higher fee which may include a copy of a workbook, and the e-book will often be available at the back of the room for sale. The expert has taken what he or she knows and has stretched it into a lucrative source of income by creating several products containing the same bit of information.
Note the example above is only one type of information product available on the market. Any e-book, workbook, DVD, CD, MP3 or even a printed book are all examples of information products. They can be written on any topic including (but not limited to):
- DIY Home Repair
- animal care and husbandry
- and the list goes on.
Information Marketing Product Review
The book listed to the right is one of the best I have read on information marketing and product creation. I personally purchased a copy a few months ago, and have read it e-cover to e-cover. It contains information from several experts on different facets of the "information product marketing business". As the author states in the beginning, he is not an expert on all levels so he has enlisted the help of experts in each section of business and legal issues, in addition to creating the products themselves.
∞ "It's not what you know, it's what you learn" by Robert Skrob ∞
What About the Money?
Everywhere you look you will see the result of an information product. There is money to be made, provided you pick a topic (or topics) that has a genuine demand. In my recent experience, I have found there to be a larger demand for gardening blogs, articles and e-books than homemaking, although the two do go hand-in-hand at some point.
One of the most saturated niches is making money online, yet the e-books continue to have continual sales. A large percentage of the population would like to work at home, so they spend time and money searching for ways to do so. A fair amount of the information available is nothing more than a sales pitch for a "get rich quick scheme", but there are some very legitimate ways available as well. It is up to the consumer to determine which is the best product to buy; one that will give them the foundation they need to build an online business.
My advice to you is if you are considering producing your own information products, do some research first. If your niche is woodworking, see what is out there. Perhaps you could not only teach others how to make items from wood, but also how to make it a profitable sideline or full time business. The end result is the same; you want to make a profit from what you know and also from what you have learned.
Combine your experiences with your knowledge and you will soon be earning an income from your venture. When it comes to writing what you know about, sharing your personal trials and tribulations makes the reader have a better connection with you. They see you as a person who has been there and done that; resulting in a book or other product they can benefit from.
In the end, your goal is to provide them with a product they will benefit from. As has been said by someone else, "don't just tell them how to do it, show them". If you can follow through on your promise to solve their dilemmas, you will have a loyal customer no matter what type of information product you produce (niche wise, not quality wise).