Today, we want to look at concrete reasons why you should create your own info
products1. Information products can be created with little or no money. When I started I paid for a domain, hosting and bought my pdf software from Ewen Chia. That's it.
2. Information products can be reproduced in any quantity - it is as simple as copying a file. Even if you sell a million copies, production costs stay zero.
3. With information products, there is no need to keep inventory so the problems of inventory are therefore completely eliminated.
4. With information products, shipping costs and problems around shipping are completely eliminated.
5. Because it is delivered electronically, the time-lapse from purchase to delivery is negligible.
My dear friend, i am sure you will agree with me that the above reasons are good enough for you to consider creating your own infoproducts. This can make the difference you need in the remaining part of the year 2013.
Well, a few of my friends still believe that it is better to create tangible products. Yes i agree but i dont want to stress myself.
Tangible Physical products have to be manufactured from raw materials using machinery. You'll probably have to hire someone to oversee the production. You'd have to have a system for keeping inventory - and again someone to run that. You'd have to ship the products - with someone to oversee that - or outsource the shipping function to someone else. These overheads make it difficult to be competitive.
However, Information products are cheap, easy, convenient and fast. The kind of thing you can create and sell all by yourself.
Lanre, are you saying that information products don’t have disadvantages? No sir, they do.
One of the main problems with Information products is the perceived value by the customer. You could charge N5,000 for a product but the client might disagree and would prefer to pay N2000 because of his/her perceived value.
I have seen people offer an infoproduct for N1000 and another person of almost the same thin at N5,000. This is a major problem in the industry.
How do you solve this problem?
You can reassure your potential customers by showing testimonials from happy customers.
You can also add freebies that they might find interesting.
You can also increase the price for the product so that the value attached to it can make your customer purchase the infoproduct.
I urge you to start planning for your own infoproduct now.
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