Because we are in the information age, it’s quite common to suffer from information overload. Unfortunately, this prevents us from processing what we see and hear efficiently.
Information marketing refers to the process of making it easy for people to get the information as quickly as possible. It features products that are created once and then sold many times.
These products are known as “info products”. Books, eBooks, DVDs, video downloads, workshops, MP3s, and audio downloads are great examples of info products.
Why Information Marketing?
One of the biggest benefits of information marketing is its extremely low startup cost. In most cases, you can purchase your original info product for very little money, modify it and then resell it many times over.
The hardest part of information marketing is determining what info products to sell. You want to make sure you sell only those info products for which there is a high demand.
If there are a lot of customers who want the kinds of info products you sell or promote, you have a much better chance of driving strong sales and high profits than you would if there were only a few customers looking for the types of info products you sell.
Choose Familiar Products
It’s important to choose info products that you are familiar with. This will make it easier for you to talk about them with your customers.
If you aren’t familiar with your own info products, it’s likely that your customers will sense this and stay away.
What Are Information Products Worth?
Another important factor is assessing how much money you can make from a particular info product. If your profit margin is low, you are going to have to see a lot more info products – and work a lot harder – just to hit the minimum revenue targets you set for yourself. If your profit margin is high, you don’t have to sell your products to thousands of people. Instead, you can sell your products to fewer people and you don’t have to work as hard.
So the ideal info product has a broad customer base, is something you are familiar with, and has a high profit margin.
Identifying the Best Niche
How can you find those kinds of info products to promote? The first place to start is to determine is your niche. An information niche is a market that is a subset of the larger market that focuses on one particular type of info products. Examples of popular info products are weight loss, sports, relationships, and dating info products.
Mass market products are the opposite of niche market info products. Niche markets are more like specialty stores (e.g. craft store) compared to mass markets stores that sell a little bit of everything (e.g. Kmart or Sears).
By choosing to promote info products and services within a particular niche, you can develop an area of expertise. As a result, your customer will be more likely to believe you!
Niche markets also allow you to focus on a specific group of customers. For instance, you can build your Internet marketing business around only those people who are interested in info products within your niche.
Identifying a niche makes creating an Internet marketing campaign easier because it narrows the scope of your efforts, making them much more manageable.