An infoproduct is nothing more than content in digital format, normally created to bring information and knowledge, with a view to solving a problem for those who consume it.
The digital market was already one of the fastest-growing sectors in Brazil and in the world – and today, this is more valid than ever.
Creating your own infoproduct is an excellent alternative for those who are not yet an entrepreneur – and want to make their digital products their extra income or their main income – as well as physical business entrepreneurs, who can use the advantages of infoproducts to scale their business with low investment.
In this article, let’s see:
- What is an infoproduct;
- How much does it cost to make an infoproduct;
- How to sell infoproducts;
- 7 practical steps to create your own infoproduct;
- 2 “hacks” for you to further boost your results.
What is an infoproduct?
As I explained at the beginning of this post, infoproducts are digital products, created with the aim of helping and “making life easier” for those who consume them.
Thinking about examples: when we acquire an online course, an e-book or a digital consulting program, we are usually looking for knowledge as a solution to some problem we have, right?
This is the main role of infoproducts, as well as their physical counterparts (physical books, classroom courses, etc.).
The difference between the infoproduct and physical products lies precisely in its advantages:
- Unique investment for the creation of the infoproduct, and usually much lower than a physical product;
- It’s relatively easier for consumers to find your product digitally;
- Possibility of selling with the help of affiliates;
- Possibility of selling in scale (you create a single product and with it you can have constant results);
- Different types of products and means of consumption, which can be adapted as best for your persona.
How much does it cost to make an infoproduct?
This is a common question for anyone thinking about creating their own infoproduct.
It’s an important and supernormal question, after all, like any enterprise, we need to plan financially.
The value for creating an infoproduct can vary a lot, depending on the type of product you want to create, the materials included (video classes, PDFs, live classes), the tools you will use and the quality of production.
The good news is: regardless of your choices, creating an infoproduct is often much cheaper than creating the same product to physically work.
For those starting out, it is even possible to create at zero cost. There on the My Product on the Web Instagram, I left a list of free tools and tips for you to create your own digital product without investing anything.
But beware: regardless of whether you are going to create at zero cost or invest in tools and superior quality, it is important that you follow the step by step of this article to create the right product, for the right people, okay?
How do I sell Infoproducts?
Well, it’s no use having an excellent product if you don’t have a good sales strategy.
Likewise, there’s no point in having an incredible sales strategy if you’re offering the wrong product to the wrong people and you’re not retaining any customers.
One thing is directly linked to another and only when you adjust these two factors do you have a truly successful infoproduct.
In order to sell infoproducts, you will need to create an irresistible offer and a “sales machine”, which can include website, email marketing, social media, affiliates and whatever else you find relevant to your audience and product.
Let’s look at this in more detail in a little while.
Now that you understand what an infoproduct is and what you need to create your own, ready to get your hands dirty?
7 practical steps to create a quality infoproduct from scratch that sells every day
After more than five years of transforming people’s knowledge and physical business into infoproducts (and earning 5-6 digits on their releases), I’ve summarized my entire production process in 7 practical steps.
These steps have kept me from wasting a lot of time, energy, and money on the wrong strategy, saving me and my clients from many future frustrations.
It’s the step-by-step guide I use when consulting My Product on the Web and the simplest way that has always worked for me:
1 – Who is your audience and what is it looking for
First big mistake most infoproducers make: create a product based on what you think people want to buy.
I’ve seen big companies lose a lot of money by creating an entire product just based on the “feeling”, without thinking about this essential step.
Before even thinking about the product, think about the following:
- A) What is the “niche” of your infoproduct – that is, its main theme?
- B) What audience do you want to reach?
- C) What are the main difficulties, needs and desires of this audience?
To make it even easier, make a list of all the difficulties, problems, and needs of each possible audience you list, from the obvious to the most elaborate.
Niche: Physical Exercise
Audience: sedentary mothers
- Feel dissatisfied with your body;
- He claims he doesn’t have time to work out;
- There’s nowhere to leave the kids at the gym;
- She has difficulty distributing her time between taking care of her children and taking care of herself.
Did you understand the exercise? So let’s get down to business and let’s go to the next step.
2 – How your infoproduct can be “the bridge”
“What bridge is this?! I’m talking about cooking, Vanessa, nothing to do with a bridge!”
Calm down, it will make sense.
Imagine a scenario where there is a point A, a point B, and a bridge between these two points.
Point “A” is where your customer is now, with the problem they have today. Taking the example of the previous exercise: a sedentary mother, without time, unmotivated and dissatisfied with her body.
Point “B” is where your customer wants to go, with the problem solved. Still, in the previous example, she would be a happy mother with her body, exercising every day, motivated, with good time management.
The bridge between scenario “A” and scenario “B” should be your infoproduct.
How are you going to create an infoproduct that will solve the “pain”, your customer’s main problem? This is the big key to creating quality infoproducts.
3 – How will this bridge be, that is, the solution?
There are two main ways for you to create your infoproduct: have your own product, exclusively yours, or make a co-production.
If you can create the “bridge” (that is, provide the solution that your customer needs) with your expertise, creating a product exclusively yours can be a good alternative, since the profit obtained with it will be entirely yours.
However, when you are doing the exercise in the previous step, you may find that not all of your client’s pains can be remedied with your knowledge alone.
The solution here can be to do a co-production, that is, to invite specialists from other areas to enrich your product and offer the best possible solution for your client.
It can be an entire co-produced product, a single special module, you name it!
The same way as the return for this co-producer, which can be through a one-time payment (you agree on an amount for his participation), or a percentage on top of each sale.
In My Product on the Web, for example, I found that in addition to helping to create their own infoproducts, some entrepreneurs are too afraid to take a stand and suffer from the Imposter Syndrome (that is, they don’t feel good enough to teach something thing for someone).
Thus, part of the consultancy can be done with the assistance of coaches and mental health specialists.
4 – Define your product name
Now that you’ve defined exactly what your product will look like and how it will help your audience, it’s time to give it a name.
The names of a brand or infoproduct can be divided into a few categories:
Descriptive: is the most common among infoproducts, as it says exactly what your product’s promise is. For example: Exercise Program for Moms.
Suggestive: It’s also interesting because it employs a certain originality, but still suggests what the product’s promise is. For example: Mom Fit at Home.
Arbitrary: the latter is more suitable for when the infoproducer already has a certain authority and can use it for the product. It doesn’t need to be clear in the name of what the product promises, and it can generate curiosity in your customers. For example: MFC program.
5 – What format will you deliver the solution?
There are several types of infoproducts: online courses, e-books, programs, mentorships, subscriptions, etc.
Once you already know what your product is, what solution it offers and what audience it reaches, it becomes clearer to define what will be the format of your product.
For this step, also consider:
- A) What will it take to produce the infoproduct in the chosen format? If you chose an online course, for example, you should think about how you will record, edit, produce it in general.
- B) What is the best format for that specific solution? Is it a cheap product, well “fast consume” (i.e., quickly the person finds the solution)? Perhaps an e-book will meet this demand. Now, if it’s a more personalized solution for each client, maybe the mentoring format is better and so on.
Here is also the time to think about the tools you will use both to produce the infoproduct, how to offer it to your customers, how will the user experience on the platform be, how you will communicate with customers, etc.
6 – Define the pricing of your infoproduct
Putting a price on what you offer can be one of the biggest challenges for infoproducers. There are a few things you need to think about that can help guide the pricing of your infoproduct.
The first is to assess your target audience. What audience do you want to attract to your business? What are his conditions? How much would he pay to have this solution?
Second, it’s interesting to evaluate your competitors and infoproducts similar to yours. How much are they charging? What do they offer for this amount?
Then you need to evaluate your own product. What fees will you need to disburse per sale (employee commission, tool fees, etc.)? How much is your product worth?
One very important thing to keep in mind at all times: PRICE is different from VALUE, this is the big secret of pricing in the right way.Let’s see this in the next and last step!
7 – Create an irresistible offer
Okay, you’ve followed all the steps so far and created the best possible product for your customer.
It placed an affordable price, consistent with its target audience and competitors.
But why would your customers choose YOUR product and not anything similar on the internet?
You need to generate value perception for your customers.
Your customer needs to feel that this problem he has is keeping him from being happier and that your product is not only the best solution, but the only possible solution for him.
Use and abuse mental triggers, create your PUV (unique value proposition) and make the customer see so much positive return on your product, that the price charged to purchase it will be cheap, given so much transformation that your product will bring for his life.
Bonus Tip #1: Selling at SCALE
This is the big “cat leap” of digital business and infoproducts.
Once you’ve followed all 7 steps and created an irresistible, high-quality product, you’ll market it to make your first sales.
After this phase, your investments will all be directed to DISSEMINATE the product, not to produce it anymore…
Unlike a face-to-face course, for example, where in each new class you have to spend on handouts, location, printed certificates and other materials, the infoproduct allows for a single investment in production, and then just reap the rewards of a job well done.
And more: while, in a face-to-face class, you can put a maximum of 50, 100, 300 students in a single room, with infoproducts, the sky is the limit.
Imagine having new students every day? To be able to simultaneously help 5,000, 50,000 students at once?
This is the SCALABLE potential of infoproducts and what will make your business multiply its income without necessarily increasing expenses in the same measure.
Bonus Tip #2: Get Expert Help
Following the step by step of this post you, for sure, are already ahead of the competition and, above all, you will be an infoproducer with a quality product, which really transforms the lives of your customers.
But, if you want extra strength, you can always count on a hand of experts in creating infoproducts.
The HeroSpark offers several solutions for infoprodutor, learn more! And I, through My Product on the Web, can accompany you in this step by step and create an extraordinary product.
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