Information Products

information products
What is an information product?

Well, at risk of stating the obvious, it is a product that provides information. It provides information that people are willing to pay for.

Who is willing to pay for information?

Before I answer that, let me explore another question. What are people doing when they go online?

Apart from accessing social media sites to communicate and interact with other people, visiting news sites and online entertainment sites, all of which are becoming more and more significant, they are mostly looking for information.

More specifically, what they are looking for can simplistically take one or more of the following three forms:

1)   They want an answer to a question.

2)   They need to solve a problem.

3)   They want to know how to do something.

Most of the information they want can be obtained for free, simply by entering their question into a search box or even more simply by typing the question into their browser and a click on one of the list of many results, which will invariably answer their question without the need to proceed further.

Some questions may involve digging a little deeper by doing a little research on the Internet. However, more complex information can be harder to find, if at all, requiring significantly more time and effort.

This is where an information product comes into play. For a few dollars, they can have the information they are looking for without all that time and effort.

What does the information product look like?

The product providing the information can be presented in a number of different formats, such as:

1)   A simple pdf file for reading online or printing out.

2)   An eBook for reading online, printing out or downloading to a tablet.

3)   As an audio file for listening to online or downloading to a CD or MP3 player.

4)   As a video for watching online or downloading to a suitable media player or tablet.

In many cases, the product is provided in a combination of these formats.

Another format becoming increasingly popular among product developers is a membership site. When someone buys the product, they automatically become a private member and can access the product on site in the many different formats previously described.

The membership format, particularly popular with coaching/ mentoring programs (which are just another form of information product), can extend to private forums and Facebook groups allowing members to interact with each other and at the same time providing a convenient support platform.

Partnership to Success is a perfect example of this.

Is there anything you would like to add or comment on? Your feedback would be very welcome.

Richard

4 Comments

  • Peter Jackson

    Reply Reply April 16, 2014

    Hi Richard.

    You are absolutely right about information being the key for people who search on the Internet. You have explained it in a succinct way pointing out that it does not have to be delivered just as an ebook.

  • Richard G M Taylor

    Reply Reply April 17, 2014

    Thanks for your comment Peter, this post is especially relevant now that we are moving into the product creation phase of our training. Exciting times…

    Richard

  • Jeremy Bates

    Reply Reply April 22, 2014

    Hey Richard,

    This was a very enlightening post for me. There’s a certain amount of fear that comes with creating your own information product, or at least your very first one. Now that we’re moving into the product creation phase of P2S, the time’s come to swallow that fear and start creating!

    I like how you broke up the concept of an information product into simply making it easier for your customers to find information which they could otherwise find themselves. I’ve done my fair share of scouring the internet to find an answer to a question, which at times could take me weeks! Most information products out there are worth their price because you get the answers you’re looking for in a neatly organized, well thought out manner.

    Something to keep in mind when I start creating my own product!

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