In a previous article I shared with you how I successfully produced my first information product which has made over $10,000 to date. But little did I know that it was beginners luck and there was still a lot I needed to learn.
The second product was one that my wife had already written previously that I tried to turn into a product without sufficient research as to the market that existed for the product. Big mistake! Make sure the market exists via keyword research tools like the free version of word tracker and good old Google itself.
The third product was a very good product but came to the market too late. It took me six months from concept to marketplace and by that time the UK Real Estate market had changed dramatically. This meant that many of the buyers had left the market, and secondly, that those that were left were not spending. The lesson learnt here was the importance of getting an info product to market quickly - even if it isn't 100% perfect. You can easily improve it and update the version once it is out there selling and making you money.
Having had a successful first product proved to me that info products do work. Had it happened the other way round it would have been easy to get despondent and give up. The lesson learnt here is that persistance is just as important online as offline.
Whilst ecommerce is a strategy that can be quite involved, if you have a passion and enjoy meeting and helping people then this is a fantastic way to make money online fast and brings people further into your marketing funnel - ready for the higher paying subscription strategies that I talk about in other articles I have written.
I still find it strange that my very first product turned out to be the best way to make money online for me. I have always liked sharing information, particularly in written form and interestingly it was far and away my best subject in an undistinguished school career. There was a lesson here for me in doing something that you are passionate about.
Finally, some quick tips on information products. They are low cost to produce but if you are relying on pay-per-click to promote them then be wary of the potential costs if you don't know what you are doing. Be aware that there is a high set up time, often including researching, writing and developing a product. In becoming successful with your info product, the biggest challenge is in finding a niche market that has a problem which you can solve. Once set up and produced, info products make very lucrative hands-off passive income streams.
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