8 Ways Information Products Can Boost Your Business

The idea of creating a product or group program can be intimidating at first, but If you have ever written some articles, blog posts or materials for your coaching programs; or you have done research in your area of expertise and accumulated a good body of knowledge; and you haven’t leveraged the materials to create an information product – you are leaving money on the table!

Information products or group programs are great ways to help you leverage your knowledge, time and effort so that you can:

  • Make money while you are not working – imagine when you wake up in the morning, or finish your yoga practice, even before you start your work day, you are already getting paid. Your ability to generate income is no longer solely dependent upon your “in-person, real time” availability.
  • Stop putting so many stakes on your discovery sessions with potential clients because private coaching is your only income stream – that’s not good for your sanity! By having alternatives, you can have potential clients keep engaging with you even if they are not ready for your private coaching programs – you can give them something they can use to support their efforts, get a taste of your work and engage your higher-end services when they are ready.
  • Create an alternative entry point for your potential clients to enter into your world – some people are not ready to put down $1000+ dollars for a coaching program without first knowing you and your approach – and that’s reasonable. Creating a product at a lower-ticket price can train your prospects to start buying from you, and opening your email (in which you promote your other services).
  • Fill gaps that are currently present in your business model, and capture more customers at different price points – some people may only be able to afford $50 for your products today, but if you build a relationship with them, they may spend $1000+ on your coaching program one day. Remember, those who have bought from you are 40% more likely to buy from you again.
  • Grow a high-quality list with a low-ticket item – you can create a special report and sell it for a few dollars, and in the process build a list of followers who are not signing up just for a freebie. They went through the trouble of pulling out the credit card and filling out the form to get your product, which means they are probably interested in what you have to offer and are more likely to buy from you again. You can create a sub-list of these folks, and start building a special relationship with them (e.g. they get perks, discounts and first dibs on your products and services).
  • Enhance your expert status  – most potential customers view people who have written something on a topic the expert in that area.
  • Reach more people – you can help more people with your knowledge in this one-to-many model.
  • Boost Your 1:1 rate – by filling out the lower price point offerings in your business model with products and group programs, you can increase the perceived value of your 1:1 coaching services. Moreover, you are positioning yourself as an expert, and people pay more for experts.

Check out our Done-For-You Programs/Info Products to get a head start on creating your info products or group programs.

Want to know the ins-and-outs of product or program launch? Get the Complete And Concise Guide to Creating, Positioning, and Marketing Profitable Information Products.

 

 

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