An information product or ‘info product’ is designed to convey information to the purchaser. It can be an eBook, audio book, how-to report or manual, video, software – more or less any type of product that can be used by a buyer to gain useful information, whether it is for learning or entertainment.
At this stage, you might be thinking that you have to create the information products before you can sell them and that this might be very laborious. Of course, you can create your own information products but you don’t have to. If you want to get your business off to a flying start, it is far easier to get started by selling other people’s products. You can do this by purchasing information products that have a resale or resell rights license. There are also products offered with a master resell rights (MRR) license, which means that your buyers will be able to sell on the product as well as use it themselves.
Okay, so how do you go about selling these information products? There are many ways to do this including using auction sites such as eBay, listing on Amazon, selling from your own website, selling via a mailing list (yours or someone else’s), etc. You can sell information products in physical form, e.g. by burning them onto CD or DVD, or as downloadable files from your website.
If you create physical products to sell, you will make more profit, as physical products are perceived to be more valuable than downloadable files. However, you will need to create your CDs or DVDs, package them, mail them and, of course, pay for postage and the cost of the CDs or DVDs and their labels. Of course, you could outsource the production and delivery of your information products to a company such as Kunaki.com or Lulu.com, thus bypassing some of the headaches of production and storage of your information products – this will, of course, reduce your profits. There are many people earning a living by selling information products on eBay or Amazon using the services of Kunaki and Lulu, and you can even purchase software that automates the entire process!
If you decide that you would rather sell your information products as downloadable files, then you will need your own website or use a third party vendor such as ClickBank or PayDotCom. If you opt for your own website, make sure that your web hosting company provides you with sufficient storage and bandwidth to accommodate the needs of your business. Your web hosting fees will need to be taken into account when working out your profit margins.
You could also combine selling physical products on eBay or Amazon with sales from your own website. The benefits of doing this are that you don’t have to worry about creating traffic (sending visitors) to your site. Millions of people visit eBay and Amazon every month and most, if not all, of these people are buyers. Sell them an information product as a physical product and include your website address in your invoices or email communications and you will start to build a customer base. Better still, get them to opt-in to your mailing list and send them special offers suited to their needs. Once someone has trusted you sufficiently to buy from you, they are more likely to buy from you again. And, of course, if they start to buy from your website, you will avoid paying listing fees to eBay, etc.
Hopefully, this short article has made you think about setting up a home-based business to sell information products. I don’t want to labor the point but you will not find a more profitable business to get you started on your road to becoming an Internet Entrepreneur.