Selling Information on the Internet
Selling Information on the Internet.
My far the hottest money making trend on the Internet is selling
knowledge in the form of e-books including digital audio and
video. Most people use the Internet to do research, gather
business intelligence, find fun things to do, indulge their
hobbies or as a medium for the exchange of information via
e-mail. The idea behind this new business model is to leverage
this insatiable hunger for information on the web by creating
and selling digital information for profit. Think of this in
terms of owning an asset that you can sell to earn recurring
revenue without the large capital outlay required for building
your own manufacturing plant.
What are Information Products? For the purpose of this article
information products can be classified into three:
1. eBooks - eBooks are electronic books you can read on your
computer or your MP4 player or print out if you prefer hard
copies. eBooks are instantly delivered electronically via a
simple download from the Internet to the customer.
2. Audio - You can record your information using freely
available software and a microphone. Audio CDs are now being
delivered instantly via digital download to the customer.
3. Video - They say a picture is worth a thousand words, a
video is even more powerful. Contrary to popular belief creating
a video product is not difficult. Digital video cameras and the
necessary software are readily available. Most video cameras now
come with full instructions and the software to get this done. A
well-planned video presentation may be what is needed to reach
your audience.
Why Information Products?
There are several reasons why this business model has become
very attractive to many aspiring entrepreneurs:
1. Low cost entry. The cost for entry is small, you can create
your products, build a website, pay your hosting fees plus
acquire the tools to start an effective e-mail campaign for
under $500. There is probably no other business with this much
potential that you can start for so little money.
2. Easy to Create. Once you have gone through the process of
creating your first product, the process becomes second nature
to you. You can create as many products as you wish to enable
you build multiple sources of income. The technology to do this
is available in the form of e-Book creation software. These
specialized software will help you automate the entire process
including packaging and distribution.
3. Unlimited Inventory. Once you have created a successful
product, it becomes an asset that you own and control. There are
no more production costs and the inventory is unlimited. You do
not need to purchase additional inventory because you now own a
product that cannot be depleted. Your job is to continue to
market and promote your product for as long as there is demand
for it.
4. No shipping and handling required. Your product is delivered
automatically without any human intervention. No lost packages,
no stamps and no delivery costs. The computer handles all chores
and tracks the delivery of your product to your customers.
5. Immediate Payment: No receivables, thank you. Product is
delivered automatically once payment is made.
6. You can work from home no long commutes necessary.
How do I get started?
Is this a quick path to riches? The answer is no. No one can
promise you instant profits without work. You have to do your
research on the Internet to identify the products you can sell
and put together a plan of action. There are good Internet
marketing companies that will literally guide you step by step
if you do not want to do most of the work yourself. A question
that I am often asked is how can I create useful content, I have
no expertise? In my next article I will show you where to go to
find paid talent to write and develop your content for you. For
now let us look at a plan of action to get you started.
Action Plan
1. Build a list of 10 ideas that incorporate your areas of
expertise, interests or hobbies. Example, Investing in the
Financial Market, Day Trading, etc.
2. Create a list of 100 -500 keywords related to your interests,
hobbies or areas of expertise. Example (currency trading, FX
signals, forex training, investment strategy, trading S&P 500,
emini trading, options strategy, stock trading, IRA, retirement
planning, etc).
3. Now go to Yahoo Marketing (formally known as Overture) or
Google AdWord and research these keywords. You want to find out
how many people are looking for information using these
keywords. You want a niche, so narrow down the keywords to find
a sizable target group. Avoid general keywords that produce too
many hits, the market is too large for you to compete in. 4.
Using the results from this effort, define problems and
solutions based on what people are looking for on the Internet.
5. Create or find an existing product that will address the
needs that you have identified from your research.
6. Register your domain name, create a website and setup a
Paypal account to handle your transactions. This is easier than
it sounds. All the resources you need to accomplish this are on
the web. Most good web hosting companies will provide you all
the tools you need to do this yourself. You must have a website
to succeed in this business, do not shortcut this step.
7. Depending on your product, eBay may complement your website.
You can setup as a seller on eBay relatively easily.
8. Write a good sales letter describing your product and your
unique selling proposition. Use testimonials and reduce the risk
for the buyer by offering a money back guarantee.
9. Finally, believe in your plan and work your plan.
The business of selling information on the Internet is alive and
well. With some research and a little bit of hard work you can
create multiple streams of income by selling your products
online.
Another way to get started in this business is to find someone
or a company that has successfully done this and use their help
to fast track your entry. Here is a great site that teaches some
of these great techniques: http://www.InternetProfitMentor.com.
They also offer a FREE 12 hour video course plus many other
incredible tips. Check them out.