How To Buy Information Products Without Wasting Your Time and Money

I am a HUGE believer in the value of education and I’ve purchased A LOT of Information Products over the past 3 years. In fact, now that I think about it I’ve spent thousands of dollars on Ebooks, courses, coaching and other products. But if you’re a Part-Time Network Marketer with limited time to build your business, it’s essential that you make every second (and every dollar) count. You must be very careful when you buy an information product or you could end up wasting a lot of valuable time and money. It’s vitally important for the growth of your business to purchase products/courses/coaching that will have positive results in the short-term.

The 7 Rules for Buying Information Products

Rule #1: Do your homework

If you are buying a $10 ebook, it’s not that important to check out the author. But if you’re going to buy an information product worth hundreds or thousands of dollars, you want to be darn sure the creator has a proven track record of success and delivering on promises. Search the internet for more others experiences using the product. Don’t rely solely on the Testimonials on the website. Those will be only the most positive; to get the full story, do your homework. Ask your sponsor or mentors their opinion before you buy.

Rule #2: You may not need even the best product

This one took me a while to get. The truth is, you should only purchase information products that you are ready for. For example, if you are a beginning marketer, you don’t necessarily need an advanced course in PPC advertising. You may learn a lot but your business is not at the stage where you will be able to get results quickly. Only buy products that you can use immediately to grow your business.

Rule #3: Don’t get overloaded

Unfortunately, this is one rule I seem to continually break. It’s important as a Part-Time Network Marketer that you limit the number of training courses or products you purchase to one at-a-time. With only a couple of hours a night to work on your business, concentration and focus are extremely important. Better to focus on one training at a time and implement what you’ve learned than to take many courses simultaneously and implement nothing. And don’t worry – most of the courses that “close” to new members magically reopen months later anyway.

Rule #4: Plan ahead and don’t get distracted

Creating a solid business and marketing plan is a necessary step to creating a successful home business, but you’d be surprised how many people have no idea where their business is headed. It’s like being in a boat without a rudder or motor, simply letting the tide and winds decide where you’ll end up. Decide ahead of time what you need to learn to grow your business in the short-term and stick to it. For example, if you want to become an expert video marketer, don’t purchase a course on article marketing no matter how good it looks. Stay focussed and stick with your plan.

Rule #5: Don’t get enticed by bonuses

Many product launches attracts a herd of affiliate marketers looking to make money off a sale. To entice you to buy through them, many marketers will offer bonuses. Be careful. Don’t let these bonuses throw you off course. To be honest, I have rarely even looked at many of the free bonuses I’ve received as a result of a product purchase. I concentrate my time and effort on the product I purchased. Unless the bonus is specifically something that I’ve wanted to learn, I ignore them. One exception here – if a bonus includes private coaching from an affiliate you respect and wish to learn from, this can be a reason to purchase through this person. The bottom line – don’t be swayed to buy an information product you many not need just because of the bonuses.

Rule #6: Every product you purchase is WORTHLESS unless you take action

Even the best information product is worth nothing unless you take what you’ve learned and TRY IT OUT. Using the strategies you’ve learned, test different options and see what works and what doesn’t. Only by implementing what you’ve learned can your business move forward. This one seems like a no brainer, but you’d be surprised how many people go through training and never take action.

Rule #7: Use your results to create a relationship with the owner

Nothing makes the creator of an information product happier and more proud than having one of his students take action and get great results. If this happens for you, be sure to contact the product creator and tell them what you’ve accomplished. Write or record a testimonial for the product. If it ends up on the product sales page as social proof, you can get some free advertising for your business. Continue to keep in touch with the product creator – many joint ventures have started out with such interactions.

Educating yourself is probably the single most important thing you can do to be more attractive and valuable to your prospects. Remember that, in general people join people, not opportunities, so it’s important to continually improve yourself through education and training. Follow these simple rules for buying information products and you’ll be well on your way to success in your Network Marketing business.

5 Reasons Why Selling Information Products Is Better Than Physical Products

Here are the 5 main reasons to why selling information products will lead to a much more stress free life than selling physical products. Information products are usually digital and so this provides a whole host of key benefits.

1. Information products are very inexpensive to make, you really only need to put in your effort, time and have access to a standard computer and internet connection. Physical products can be very costly to produce as you have to manufacture and design a prototype, then order in bulk with potentially very high upfront costs.

2. Information products can be made as digital products. Digital products are made of light! So you can never run out of them and there are no expensive warehouse costs that you would have if you had bulky physical products. They are also way more greener and friendlier to the planet

3. Digital products can be downloaded and accessed immediately. Therefore no shipping costs or handling fees for your customer. You don’t have to worry about fulfilling orders either!

4. The mark up on information products can be extremely high compared to physical products. This is because the cost to produce is so low. For a high demand information product you could be looking at 1000% or more mark ups

5. You can give away digital products as a way to generate rapport and trust with your future customers and build a high quality list of prospects. This is often just too costly with physical products

With the current economic climate and reluctance of banks to lend money, it is very difficult to get started with a business that sells physical products. You can get started selling information products, whether they are your own or someone else’s completely for free, all you need is an computer and internet connection!

Why You Need To Create Your Own Information Products

Let’s face it there are a lot of alternatives to creating your own information products. You can sell someone else’s products as an affiliate. You can sell someone else’s products as your own. You can sell reviews of other people’s products.

But the best way to create an information product business is by creating your own infoproducts. Everyone agrees. Anyone who is making serious money creates their own eBooks, webinars, seminars and recordings.

But why?

In this article I’m going to share with you three reasons that I believe mean that you need to create your own information products in order to be successful.

1. You need to practice and grow to be an expert

One of the defining characteristics of an expert is that they have knowledge and experience beyond that of the average person. Knowledge is made up of two parts… facts and understanding. Facts you gather by research. Understanding you build by trying to put facts into some sort of order. Creating your own products is one way of being forced to do both those actions. Research is frequently a major portion in the creation of courseware. Organizing the facts is always a major portion in the creation of an information product.

2. You need to be perceived as an expert to sell high profit items

In order to move from selling low price, low value items into high profit items you need to be perceived as an expert in your field. After all, that’s why people are willing to pay the higher price of high profit items like coaching. There is only one way to be perceived as an expert — give your customers information that they want and need. Now there are, arguably, ways to do this without creating information products. But personally I believe that an information product is an information product because of what it is, not its price. In any case, free eBooks or webinars are amongst the best ways to convince your audience of your expertise. Articles and YouTube videos are great ways to interest a large number of people. But it takes larger learning content products to convince customers of your value. (And personally, I would argue that articles and YouTube videos are also learning content products if they teach).

3. There’s more money in products you create yourself.

Creating information products costs money. And quite reasonably, those who create the learning content expect to get the biggest portion of the sale. By creating the courseware yourself you’ll get the biggest portion of the sale. But there’s more than just that. The largest priced products can’t be easily resold. Things like coaching need to be delivered by the information product creator. If you want to sell high profit, high price products you need to be creating those products yourself.

Best Marketplace for Information Products Online

There are so many people looking for information that an entire new industry has sprung into action these last few years. It is now possible to build a profitable online business creating and selling information products.

So what are information products?

Very briefly for this article, information products are delivered in different formats such as:

Ebooks – Usually PDF files formatted to look like a real book, but with fewer pages. A typical eBook is between 70 and 100 pages, but can be a lot less, or a lot more. Ebooks can sell for anything from a few dollars to hundreds. A price point of $67 or $97 is not unusual.

Special Reports – As with ebooks, special reports are normally supplied as PDF files, but they tend to be much shorter. typically 5-10 pages. Special reports are usually focused on answering a single problem or teaching a specific method for something and have a lot less fluff and filler than ebooks often do.

White papers – Sometimes the answer to a question can be contained in a page or two – a list of resources, for example.

Videos – with the ease of use of hand held video cameras such as the Flip, and screen capture programs it is very easy now to produce short videos to answer people’s questions. Buyers seem to like video products and are often willing to pay a premium price for them.

Audio – spoken word information products – often called podcasts – are popular with people who regularly use MP3 players and Smartphones as they allow folks to learn while on the move. Sometimes it is quite easy to simply read out an article or short report into a program like Audacity to make an audio info product that will sell well.

Membership sites – When information can be delivered over time, in installments, it can be very profitable to do so from within a membership site. This gives the vendor an ongoing income from subscription fees as well as a frequent opportunity to offer members other offers.

For someone who might never have written more than a casual letter or a high school report, writing information products does not sound like something to be considered as a business! But when we get down to the basics of what constitutes information, and avoid any online marketing jargon, it’s not so scary! Let’s just think of ‘Googling’ which is simply people searching online for some kind of information!

When we do a Google search we are almost always trying to find an answer to a question. Some of those questions can be answered very easily, but sometimes we have a problem that is too complicated for a simple answer

Some people might take the time to pursue some more extensive research but there are apparently more people who prefer to buy a ready-made solution

The more urgent the problem, the more they are willing to pay for an answer.

The difference between online and offline information products is that offline everyone has a view as to how much a ‘book’ or a ‘magazine’ is worth and will rarely pay more than the accepted norm. Online, however, it is the information that is valued, and not so much the delivery vehicle. So people will often pay a lot more for an answer to a pressing need online that they will offline.

Creating your own information products has one very big advantage. When you sell it, you determine the price and you keep all the profits. And as the cost of creating, producing and supplying digitally downloadable info products is virtually nil,the potential profits can be enormous. You can literally start a real business but with no overheads.

In addition to sales you make yourself, you also have the chance to attract and recruit other people to sell on your behalf. In internet marketing these people are called affiliates. They will promote your product to their lists, and be responsible for any advertising costs they incur. You simply pay them a commission for each sale they make.

Typically, you will pay them 50% – 75% of the sales price, which sounds like a lot, but consider the sale one you wouldn’t have otherwise had, and it has cost you nothing. You may ‘only’ make 25%, but that 25% is 100% profit. It is a great deal!

Some product writers prefer to offer their product as a free gift in exchange for an email address because building an email list is a very important part of internet marketing… if you already have a list of a few hundred people to announce a new product to, you don’t have to start a new launch from scratch every time you have a new information product to sell!

It should be a part of all marketers’ routine to actually create free information products to attract subscribers.

An online marketer who creates information products is providing a valuable service because although most any information can be found for free on the internet it takes time and dedication to find it, compile it and present it in a clear and understandable manner.

While it’s true that affiliate marketers can earn as much as 50 to 75% commissions selling information products, creating and selling your own products is the best way to secure personal success into the future.