How to Successfully Sell an Infoproduct

13 replies
I've been collecting information from around the internet for an info-product I'm planning to sell on Facebook. I wanted to share some of the information I've found and the process I've created based on that information to see if there's anything I can add to this moving forward. I have a specific idea for the product I want to create, but I know that there are tons of options available. Here's what I've come up with so far.

1. Create the actual product. I could write a whole process for how to do this because it's so involved. Niche research is important, like deciding what kind of product you're going to create, but the best thing you can do is create a product that is personal to you and that you know about. For example, if you already know a lot about finance, it doesn't make sense to create an infoproduct about how to be a professional dog-walker. This is something that I feel was missing from my early efforts in IM - I tried to make websites about things I knew nothing about that were also very broad topics. It takes a long time to become an expert, so you're going to best add value in an area where you can already be considered an expert.

2. Once you have an amazing product, make sure it satisfies these criteria
  • Benchmarked against strongest competitors
  • Already found one person willing to buy it
  • Packaged and Designed by a Professional
  • Includes Multimedia Components for Added Value
  • Comprehensive - The only product of its kind that your user needs

3. Now you need to identify your target demographic - who is going to be using your product? This is a crucial step that a lot of people skip - they say "I'll just market it to everyone!" In order for your efforts to be efficient, you need to figure out who is going to buy. In the make money online niche, for example, look for either stay at home moms who need to generate side income and have college education, or young guys who can be easily attracted to promises of big wealth. Now you know how to market to these people because you understand why they would want to buy your product.

I'm pretty clear on these points, but not so sure what to do after this, any pointers?
#infoproduct #sell #successfully
  • Profile picture of the author marciayudkin
    Guess what, you have things backwards!

    You need to be clear on the audience for your product BEFORE you create it. Otherwise you risk creating something that has no audience at all.

    I coach people on this process and unfortunately I have seen this mistake made too many times.

    Good luck,
    Marcia Yudkin
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  • Profile picture of the author yukon
    Banned
    You don't need a product in order to do advertising or CTA research (analytics). That's a more informed plan based on real data.

    Test traffic and see what they want/need and how they respond.
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  • Profile picture of the author Stanallaire
    WOW, okay it seems I really avoided stepping on a landmine here by creating the product before actually testing the marketplace. That's unreal because my friend's start-up company is going through exactly this problem. They created a technology/software product based on a perceived need in the marketplace, but it came to light that the need for the product was established based on a conversation with one person who later on did not want the product!

    Meanwhile, the founders of the company had invested $7000 to have the product created by software developers overseas and now there is a completed product but no target market. The product is similar to many other products that are already available, so there was reason to believe that a market existed for it, but there are products out there that are much better and the market is nearly saturated at this point already.

    Can anyone offer hints or tips on how I can analyze the need for the product before I create it?
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  • Actually. Not entirely true what the people said.

    You actually CAN create a product that you believe no one wants, that there is NOT a market for - and sell it. (I've done it). The "trick" is finding out where it DOES benefit them. Classic example is the post it note story.

    Guy was trying to create a super strong adhesive, "failed" - but then found a different market for his product.
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    • Profile picture of the author DABK
      No one said it's impossible for everyone to win the lottery; just that it's not a good plan.

      Yes, you can create product A to fix problem X and have no one buy it; then find out (luck) that it fits in another world where it fixes problem Y. And, if you do that, you really can make money. But it's luck not planning. For every instance where a product created first that ends up selling well to a different market for different reasons, there are tons of instances where that does not happen.

      You want to increase your chances of making money by a lot, you do the research before you create the product.

      It's kind of like, for every Bill Gates who drops out of college and makes it big, there's a bunch of Bob's That No One's Ever Heard Of who end up as a lowly paid mechanic, bank teller, or cashier or...

      Originally Posted by InternetSuccess001 View Post

      Actually. Not entirely true what the people said.

      You actually CAN create a product that you believe no one wants, that there is NOT a market for - and sell it. (I've done it). The "trick" is finding out where it DOES benefit them. Classic example is the post it note story.

      Guy was trying to create a super strong adhesive, "failed" - but then found a different market for his product.
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  • Profile picture of the author Stanallaire
    Which is kind of funny and ironic considering that post-it notes use a relatively bad adhesive. I mean, I guess it's good for what it's good for but it just peels right off. Sometimes it even falls off.

    Anyways I think that's probably a niche example because based on what I've seen in the last little while, it is very important to make sure there's a market for your product before you create and sell it. I was recently doing some group work with business partners and other friends and this guy found out we were in business together and started giving us business ideas that were awful!

    What I realized about the ideas he was giving is that they reflected genuine needs that people have, but not anything that people would pay for or that we could monetize. Yes, we can program a software that will tell you what parts of the city are the most dangerous, but we would have to do the data collection on our own and who would actually buy this information from us? If the data already exists, we could package it and sell it but we don't need a piece of software that does any of this for us.

    Anyways, my point is just that if you're designing a product for someone to buy, you should probably first figure out if there's somebody that wants to buy it. I actually remember on Dragon's Den there was a women who designed a floating table/tray that you use in the bathtub which covers all the water so you can take a bath while using your phone, reading a book and eating a meal and none of your things get wet. It was also kind of a blanket. The idea seems cool but in reality nobody is going to buy this and it isn't the next big product. Just not a winner!
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  • Profile picture of the author VidasVegas
    If you're not believe in the product you're selling - no chance to be successful.
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  • Profile picture of the author dolius
    My tactic was creating several 1-day $3-$5 dollar facebook ad tests trying different promise points and headlines, also images, - without having a product yet - but just promoting a simple blog post talking about the existence of such product.... This resulted in great insights. The products "offers" I tough would be a blast ended up being the less engaging. In the other hands offers made for products I tough would be a waste of time ended up showing more engagement and clicks. Of course, there are many variables here, images, headlines, copy, audiences... The trick is to have ONE AUDIENCE and test multiple post and concept products. That same audience will eventually tell you what they like... Then you can create a product around it...
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  • Profile picture of the author aizaku
    survey your traffic first

    then build a product around what THEY need.

    -Ike Paz
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  • Profile picture of the author Randy McLean
    I'm not saying the quality of the product should be ignored, but a lot of attention should be paid to the sales page or video itself.

    That is what actually is going to sell the product, before they even see it. Good or poor conversions can mean the difference between success and failure.

    You can also sell things from different angles. For example, I promote a fat loss cookbook from the point of view that "abs are made in the kitchen" and not a traditional recipe or cooking site.

    Might not work all the time though but it can work. First thing I ask myself is "who is this for?"
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  • Profile picture of the author jbsmith
    Pretty simple really -

    1. Target an urgent desire (think desired outcomes - things that will help a person achieve the vision for herself or himself in their minds) - sometimes this is what they tell you, but often it is NOT, in that case you have be good at understanding what is going on in the mind of a given market...you can often figure that out by watching what is already selling and asking "Why?" What desire is that top-selling product tapping into - what promise of desired outcome are they targeting?

    2. Making sure you are selling a "system", "method", "plan" or a "technology" that a) Can be applied practically toward getting from where they are today to where they want to be and b) That differentiates your approach from others AND c) That helps brand you as the owner of this approach - the really BIG attention and money comes when you stand out with practical systems that are usable, testable and verifiable

    3. Market It by telling stories...no matter how great the product is if you don't seed momentum, it will not sell to its potential. The best marketing tells the story of how it came to be, why it works when so much else will not and how your system has transformed someone (similar to your prospect) from where they WERE to where they ARE having realized their desired outcome.

    If you accomplish these 3 things you will have maximised the return from your market

    Jeff
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  • Profile picture of the author megamind22
    You are doing it all wrong my friend.

    You need to know your market or target audience, know what what they are looking for as in the problem they are facing as this will enable determined the type of product to create for your market.

    This way you'll be able to give them the solution they want.

    Hope this helps..
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  • I think you have the basics down, congratulations.

    If I was you I would start off selling your infoproduct right here in the Warrior Forum as a WSO.

    Listing your product here first will allow you to do three things:

    1. Beta test the download and delivery process
    2. See how well it is received and discover if there are any errors or omissions that need to be corrected
    3. If you get lucky you may even be able to recruit a fellow Warrior to do a joint venture with you

    That's my two cents
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    "The successful man is the one who finds out what is the matter with his business before his competitors do"
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