This Thursday I'm the guest speaker on a special TeleClass hosted by my friends at SpeakerNet News on "The Anatomy of Creating Six Figure Products" where I'll discuss the ins and outs of creating and marketing information products online (and actually making good money doing so).
If you can join us, great - The link is: Six-Figure Products TeleClass. If you can't attend, you can order either the Mp3 or the CD of the TeleClass at the above link.
In today's More Clients I want to give you the "Executive Summary" of this presentation and share what I feel are the two most important ideas around developing and marketing online products that sell in the six-figures.
What Online Products Should You Develop?
These days the most popular information products are e-books, audio programs, teleclasses and other online programs. And the trend seems to be to create an e-book from a series of eZine articles or from transcripts from several teleclasses.
But there's a problem with this.
Often these products seem slapped together quickly in the attempt to "just sell something." These products tend to be "just a collection of ideas" and don't have much of an impact, because there usually isn't a complete system one can follow.
I recommend a different approach.
When I created the InfoGuru Marketing Manual, my goal was to develop a more comprehensive product, something that would have substantial value and that would have a much longer lifetime. I wanted it to be a complete how-to guide to attracting clients.
Your product doesn't need to be an "online book plus" like the InfoGuru Manual. But it should offer a complete solution: a product that gives your buyers a focused, step-by-step how-to guide to producing a specific result.
It might be how to give powerful presentations, how to get more appointments in large companies, how to heal your back pain or how to keep more of your top employees.
If it's comprehensive, full of case studies and hands-on examples that they can actually follow (and that really work), your buyers will come back to it over and over again, and also tell their friends and associates about it.
This doesn't mean you can't make money selling one-shot teleclasses (and recordings of same); you certainly can (and I've made a lot). But they are unlikely to generate a six-figure income. Here's my simple six-figure formula:
Comprehensive + In-depth + How-to = Six-Figure Product
How to Develop Your Six-Figure Product
First, answer these questions:
What's something I know how to do as good as or better than anyone in my industry?
Is this information in demand?
Is it something a lot of other people want to know?
Do I have a solid track record in producing results for actual clients with my approach?
Can I systematize my methodology into a series of how-to steps?
If you can say yes to all of these, you have the foundation for a six-figure product. Your product may have a fairly narrow focus, such as my Web Site ToolKit, or much wider focus such as the InfoGuru Manual.
Next, create a detailed outline of your methodology.
Just break it into its components and write a complete, step-by-step process for each part. Make it easy to follow, like a recipe; something that anyone reading it could implement. This is the key; it's all about specific how-tos. And then enhance these how-tos with examples, case studies and checklists to make things even clearer.
If you want to take your product to the next level, add an audio component. The easiest way is to have someone interview you and then break up this interview into sections corresponding to the sections of the product. For example, the Web Site ToolKit has a written and audio section for each page on a web site.
Finally, include resources such as recommended books, online links, related software, etc. In other words, make your product as completely turn-key as possible. When you promote your product, you'll offer these as valuable extra bonuses.
Ultimately your product will be uploaded to a web site with links to all the components such as pdf and audio files, links to resources and bonuses, etc. Then it's promoted online, usually through an in-depth, no-hype sales letter.
What Else Do You Need?
In this short eZine article I can only give you a snippet of what I'll cover on the TeleClass, but what I have covered is the most important part of all. If you don't have a a comprehensive, in-depth, how-to product that offers great value, it's unlikely you can generate six figures or more selling it. I just passed a half million for the InfoGuru Manual, so I know it can be done!
On the TeleClass we'll also discuss pricing of products; keys to writing online sales letters; how to structure your guarantee; getting people to actually use your product (so they'll tell others about it and buy other products); and ways to make your product sell over the long term.
You can sign up now, or order the Mp3 or CD at this link:
The More Clients bottom line: Making six figures with an online product is possible. In fact, that should be your goal. The key is developing something that has so much value that it becomes easy to sell for a very long time.
What persuades you to buy online products and/or what turns you off from buying online products? Please share on the More Clients Blog.