I still hear quite a bit about developing your own information product and selling it through your blog or website. That’s exactly what I’m in the process of doing with this 99 day series (which I will turn into an e-book), and I also have a few other irons in the fire (but that’s another subject for another time).
We live in the information age, and though information isn’t necessarily currency, people are hungry for what’s out there. We wouldn’t be posing so many questions to Google every day if we weren’t. So, there is definitely a way to monetize information.
If you want to develop your own information product, there are a few things you should be aware of:
- You are already an expert at something. You may have to do a little digging and a little soul searching to find it, but I assure you there is a subject, hobby, activity, profession or sport you know more about than the average person. In fact, there may be several areas in which you are already a knowledgeable expert. If you’re going to make an information product, you should link it up to one of your strengths.
- It can be hard to find reliable information. Sure, you can find it all for free on the internet if you’re really diligent, but that could take a lot of time and effort. As a product developer, if you can consolidate and organize the best information in a single place (like in an e-book or webinar), you’ll have a better chance at making a viable selling proposition. If the right information is hard to find, solve the problem by becoming the go-to person.
- Your product doesn’t have to be perfect. Creative types get caught in the perfectionist trap quite easily. However, in producing your first information product, your goal should be to get to your first dollar as quickly as possible; not to impress people with your cool design and elegantly worded legal jargon. Test the viability of your product before investing a ton of time into it. Create a minimum viable product, as I’ve heard marketers say many times before.
Find your target audience and look for a way to solve their problem. It may sound cliché if you’ve spent any amount of time learning about online marketing, but it is nevertheless true.
Search Quora and other forums for the types of questions people are asking about. If you think you can answer their questions or solve their problems, make a product, even if it’s a relatively inexpensive one. Test it out and see what happens.