The information marketing market is a billion-dollar industry. If you want to learn how to make money selling information products, then this article is for you.
Learning the different information products that you can create and sell is a great way to generate passive income.
In case you don’t know, selling information products is one of the most profitable ways of making money online. Lots of bloggers, freelancers, and home-based business owners make a full-time income from selling information products on their websites, apps, blogs, and other retailer platforms.
In this article, you will discover 5 different types of information products that you can create to make money online.
eBooks can be read on electronic devices. While creating eBooks, you need to structure your knowledge into chapters and lay it out in written words or images.
Some e-book ideas include:
- eBook on how to care for your pet
- Travel guides to help readers plan their trips
- eBook on money-saving tips
- eBook on how to plan for retirement
- A guide on weight loss recipes
You can write an eBook once and it will continue generating passive income. The only thing you need to do regularly is to promote the eBook. You may also have to update the content of the eBook if there’s a change in what you discussed in the book, but this will not be frequent.
The time it takes to create an eBook depends on the size and capacity of the book. The level of expertise required to create an eBook also varies and depends on the subject and the potential audience. Ensure you are clear when promoting the ebook and let your audience know its content and what it does not include.
Creating an ebook can be as simple as creating it in a Word document and a PowerPoint, or saving it as a PDF. It can also be formatted to adapt to the size of the screen. You may need to learn new software or partner with an expert that can help you format the eBook.
eBooks can be sold on platforms like Amazon and Barnes & Noble. You can also sell your ebooks on:
- Your website
- e-Commerce platforms like Selz
- Websites that deal in creating and selling eBooks, such as Blurb
2. Workbook/ Templates
This refers to an eBook that you can fill in. The process has been designed into exercises and formatted spaces are created for the customer to complete.
Workbooks/templates are sometimes sold as add-ons to an eBook. They can also be sold as stand-alone.
Workbooks are used for documenting the analysis of an event and bringing out a strategy from it. For instance, here are some workbook ideas:
- Analysis of a social media strategy and implementing it
- Analysis of your budget, planning your budget and keeping track of your expenses
- Analyzing your life and projecting your future
You can write a workbook once and keep earning from it for life. Just like eBooks, the only thing you need to do is to promote it and also update it (if the need arises). It can take between 2 and 20 hours to create and format a workbook/ template.
If you can create a large volume of workbooks, you can earn a good amount from them. To create a good workbook, you should be able to layout your process into steps and exercises that are clear and easy to follow.
Creating a workbook is as simple as using a Word document or saving the file as a PDF. The customer will handle the printing and can then write on it.
A software that you can use to create this information product is Indesign. This Adobe software is used to format and create form fields. Once you save it into an interactive PDF, your customers will be able to fill it in online.
Workbooks/ templates can be sold either on your blog or eCommerce platforms (such as Selz).
Examples of workbooks include:
- The workbook created by Innersocialmedianess about the Pinterest Process.
- Shinning Mom printables was created to help organize one’s life.
3. Online Course
Online courses are programs that are taught through online methods to transfer knowledge and also reveal how to apply the knowledge. A good online course will take students from the stage of acquiring knowledge to the stage of applying it to get the desired result.
Examples of online courses include:
- Losing weight without exercise
- Getting out of debt
- Managing a gluten-free condition
- Learning a programming language
A course is created once and keeps bringing in passive income. However, you need to keep promoting it for regular income. You may also update it if there are changes in the content of the course.
To create a powerful course, you need to plan several hours per week for several months. A powerful course meets the needs of your audience.
An online course can be priced higher than an eBook. Since the time required to create an online course is higher than that of an eBook, the volume of online courses that can be created is usually lower. You can charge between $30 and $3000 for an online course depending on the content and your reputation in your industry.
You need to have a high level of expertise in your field to create an online course. It is also possible to increase the perceived value of your course by adding an expert’s interview to the course.
An online course can be as simple as a course that you send via email. It can also be developed into a more packaged product that is uploaded on an online platform with worksheets, transcripts, and videos.
Selling an online course
If you’re offering an email course, you can sell access to the course through an eCommerce platform. You can also use a hosting platform and the platform’s eCommerce system but you will need to handle the promotion by yourself. An example of such a platform is Teachable.
Also, you can use platforms that handle the promotion themselves, for instance, Udemy. The platform will help you reach a wider audience but you have less control over the sales process.
Another method that you can use to sell your online course is to create a keyword-protected area on your site and sell access to it through eCommerce platforms like Selz.
Here are some examples of online courses:
A webinar is a one to two-hour video that is produced live to tackle a specific subject. It is an avenue that is used to attract people to bigger products like membership websites and courses. A webinar can also be sold in itself.
Examples may be:
- A 1-hour webinar on how to set up a successful dropshipping business.
- Webinar on how to create an attention-grabbing resume.
- A 1-hour webinar on how to create a Google-optimized website.
A webinar can be recorded once while it generates income for you for life. You will only have to record a new webinar if the techniques discussed in the webinar have changed. To create a webinar, you need about 1 to 2 hours of recording time and time to plan the content you intend to discuss in the webinar.
Unlike workbooks or online courses, a webinar is less actionable. However, it can be valued if it tackles a specific pain point. You can price your webinar between $10 and $100.
How to create and sell webinars
To create a great webinar, you need to have expertise in what you want to talk about. For instance, if you want to talk about Pinterest, you don’t need to know everything about Pinterest. If you are knowledgeable in creating accounts, you can walk your audience through how they can open one by themselves.
You must be able to use webinar software and should also be able to handle any technical issues that arise while recording the webinar.
To sell the webinar, you can sell access to the page that contains the video through e-commerce platforms like Selz.
You can also include the webinar as a bundle with your products or with the products of other experts in your industry. For instance, yTravelBlog sells a pack that contains 2 webinars that shows how you can turn your blogs into a business.
Learn more: How to Make Money with a Webinar
5. Membership Website
A membership website can be a full website or a section of a site where people can have access to content through a membership. It is ideal for situations where the subject needs to be updated regularly.
Membership websites can be:
- Weekly tips and tutorials on how to use highly technical tools.
- Daily motivation to inspire members.
- Weekly webinars on a particular topic.
Unlike other forms of information products, you must add content regularly to a membership website so that people can be interested in remaining in the program.
The revenue from membership websites can be recurring with a monthly or annual membership. You can charge $100 per month or $100 per year depending on the quality and how technical the content is.
You need to have a high expertise level so that you can keep offering high-quality content to members of your site. After creating the membership area of your website, you need to publish the new content that you want to add. There are many plugins that you can use to effectively manage your membership website.
You can sell the content of your membership website through plugins or by using eCommerce platforms that allow you to set up a recurring payment plan.
Examples of membership websites include:
- The Location Indie community that shares content that helps to develop location independent business and supports a nomadic lifestyle.
- Scot’s membership site teaches members how to play bass.
What are information products?
Information products refer to digital products that share knowledge or specific information, to educate users on a specific topic.
How do you sell information products?
Here are 8 steps that you can follow to sell your information products online:
- Identify your target audience
- Identify their specific problems
- Find out who your competitors are and find loopholes that need to be covered
- Come up with your big idea
- Craft an engaging sales copy
- Create your product
- Promote and distribute your product
What niche sells the most?
The following niches are the most profitable niches for information products:
- Fitness and weight loss
- Dating and relationships
- Make money online
- Wealth building via investing
What are the examples of the major information products and services?
Examples of information-based products include the following:
- Journal articles
- Electronic journals
Before you sell your information products, the first thing you need to do is to figure out the type of information you want to create. To choose the type of information product you want to sell, you need to know the needs of your audience and what they are ready to pay for.
The next thing is to determine what your price point will be. Once you’ve figured out how much you intend to sell the information product for, then you need to choose a format. We have covered different formats in this guide.
You can choose from ebooks, workbooks, webinars, online courses, and membership websites. You can sell anything online as far as it is valuable and there is a hungry market for it.
So, interview your audience to find out what their pains are, carry out some research to find the solutions, and package the solutions into an information product using any of the formats discussed in this article.
That is how to make money selling information products.
Thanks for reading.