The Beginner’s Guide to Infoproduct Development: Finding a Profitable Topic [Part 1]
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This article is part of a five part series covering the topic of infoproduction development and launch.
An infoproduct, whether it takes the form of a book, video series, ecourse, audio guide, or other mixed media, is a very profitable addition to your affiliate marketing business; the most common introduction to this asset usually takes the form of an eBook.
A product grants you the ability to not only earn additional income outside of affiliate offers but also plants you in a prime position to build brand authority within your niche due to having something of value to offer than just free information (which can usually be found elsewhere).
The product condenses your knowledge and experience; it’s a straight-forward collection of your best strategies and proven methods dealing with your topic which many seek since it’s easy to become lost in the noise and chatter found on the Web.
In this series, you’ll learn the complete process of developing an infoproduct (we’ll be using an eBook as an example), crafting the work to improve your existing business, getting it online, and setting it out for launch.
Start with what you know …
There are many methods to finding a profitable topic for your information product (all of which we will cover) but perhaps the best place to start is with what you know.
- Pro: You already have most of the information needed to populate your work
- Con: Your knowledge and set of skills may not be truly profitable
Building an infoproduct from your knowledgebase allows you completely understand you topic from all angles since it’s something you have experience with. You have worked through the basics and up to the advanced levels of your topic so you know which areas to cover if you wish to educate your reader on the entire spectrum of the topic without wasted actions. Likewise, your level of expertise puts the readers in good hands since you’ll have the ability to include a personal story along with the work which creates brand identity in the work (this helps the reader bond with you).
1. Write down a list of your top five interests and skills
2. Form an idea for each of the main chapters (usually 6 – 12)
3. Compare them to the main “turning points” in understanding the topic
4. Hand off the work to gain feedback about the scope of the project
Information products do not need to educate as you can certainly create a piece of work that entertains or takes on a nonfiction/fictional format, but you’ll find ease in gaining a profit from the work when it’s an educational piece because there are always individuals seeking a solid understanding and condensed knowledge of your topic.
Flirt the outline with a few of your close business connections and see what they have to say about the work. Likewise, put together a rough design and tease it with a small portion of the community to build data about its reception to solidify the idea.
Going with what you know will bring ease to the product development and all other elements of the product launch there after because you will have the understanding of the topic which makes additional ease when it comes to promotion and marketing.
To be frank: Even if your idea and topic don’t seem all too profitable – create the work, anyway. You’ll gain a great understanding of the product development process more so than simply reading a series on the topic since it will give you experience with its design and launch.
Utilizing research and development
The alternative method to product development comes in the motion of research and development.
- Pro: You’re able to cover any topic and start with a firm understanding of the market
- Con: Your choice in topic may be out of your understanding
Using R&D, as noted, will allow you to cover the exact topics people seek when using the Web; this will reveal whether they are profitable from the start so you’re not spending hours creating a product that has ill reception.
Surprisingly, people still have difficulty using the Web to learn about topics and will, often, get wrapped up in the noise and clutter due to the enormous amount of sources. People generally like to have a single source for education much like what they are used to from their experience in school (textbooks).
The combination of R&D and condensing the work into a single piece will have great value to those that search for the work.
1. Use tools like Google Analytics, Google Adwords, Alexa.com, Compete.com, and SpyFu to data mine the search terms and focus of those coming to your website and whatever you can gain from the competitions site.
2. Visit 10 – 20 of the biggest blogs and websites in your industry to see what they have on the market and consider purchasing one or two of them to understand the tone, direction, and sales process which should help you understand where to make improvements if you’re covering a similar topic.
3. Collect and utilize multiple sources for the work such as physical & digital books, video tutorials, and interviews with experienced individuals, and lectures, so you’ll have a complete picture of what you need to cover and how to properly explain the information.
Information products that are the result of R&D can be extremely lucrative because they can tackle any topic but it’s easy to get lost in the information and create a piece that doesn’t come across as being experienced and authoritative. For this reason, it’s vital that you become part of the learning process and put the methods and strategies to the test; this will give you a real-world angle for the work.
Like before – flirt the idea/topic to those within your circle and consider doing a soft launch of the work by taking orders which will reveal its reception within the community (and also give you motivation to get it done).
Before you go … Do it BIG
That’s really all that’s too it in terms of coming up with a profitable idea – it’s a matter of condensing your knowledge or using research then comparing it to what the market has to offer followed by gathering feedback on its initial conception.
But, here is a little example to get your creativity rolling …
Suppose this series were actually a paid information product. Sure, it answers a common question but there are many products currently available that covers this topic which makes it hard to gain an edge in the marketplace. The alternate, profitable route could pool together multi-media for covering the information, exclusive interviews with top professionals in the industry, worksheets, and even a membership area.
The point is that you should go big.
Think of the bigger picture when you’re developing your idea – include horizontal and vertical opportunities when you’re planning the work.
Your idea could grow from a single eBook into a massive multi-media empire complete with dozens of versions of the work and plenty of complimentary pieces that supercharge your profits.
Many product creators stick to a single format – use this as your edge in the market.
Now, get to work on a few of your ideas. Do just 30 minutes of infoproduct development a day – it won’t eat up your time but it’ll put you one step closer to completion versus overwhelming yourself.
Do you plan to work on an information product? Share your goals in the comments below or on our Facebook page.