Bob Bly is making around $1,000 per day from information marketing. I'm making a little over $100 per day.
So whether you've been in business for more than 30 years and have a ton of experience, or you're a newcomer like me, the answer is yes.
Yes, information marketing increases revenue and profits.
Just so we're clear, infomration marketing has two parts:
- information marketing - where you use information to promote a product or service; and,
- marketing information - where you sell an information product.
You can see how they go together. For example, we're giving away a big piece of my new book How to Profit with Social Media - The 2010 Social Media Directory at www.mysocialmediadirectory.com/technorati.html.
The information we're giving away solves the biggest problem business owners have to getting started with social media - not knowing how to get started. Giving away that solution (the information) helps to promote the whole book which goes into a lot more depth on how to use social media to promote your business.
In the marketing model we're using, we give away a large portion of the book then make the digital copy available for just $9. The print copy of the book costs $36.99, so that's a huge discount. As sales of the digital version increase, it makes the print version a souvenir - something you can hold and share with friends.
By the way, that marketing model is from Seth Godin. He used it to make 10 books into best sellers.
That information marketing works is clear, but will it work for you?
The best way to find an answer is to ask yourself: Do I have knowlege that other people would like to have?
Of course, most of us are inclined to just say "no" and move on. It's easier that way, and we don't risk anything. Other than increasing revenues and having the pleasure of helping other people do something well.
Let's go back to my example of the hardware store owner. I like that one because everyone seems to think a hardware store is an intensely local business.
There are literally thousands of possibilities for information products in a hardware store.
- A pamphlet that shows how to store your lawnmower in the fall and get it ready in the spring.
- How-to videos for fixing leaky faucets or hanging a ceiling fan.
- Teleconference calls on how to use wallpaper, boarders and paint for home decorating.
- An entire book on household fixes, removing stains, and storage solutions.
That's just four I came up with sitting at my desk and thinking about what's in a hardware store.
There's still whatever our store owner does in his/her spare time...Maybe he's into model airplanes or she is an avid hiker/camper. Your hobbies can actually be the primary source for your information products.
All it takes to create a successful information product is an idea that's popular with a reasonably sized audience.
You might already know I've written a whole book about creating information products. It's titled Writing E-Books for Fun and Profit. You can read about it at www.TheBookOnEbooks.com.
Creating an information product is easy. And for an established business owner, selling it is as simple as letting your existing customers know it exists. Your loyal customers will be thrilled by your new service, and they'll tell their friends.
Information marketing is an excellent way to increase and diversify your revenue without having to learn new skills or bring in more inventory.
Thanks for reading. Be sure to leave a question or comment to let me know what you think.