5 Reasons to Create Your First Information Product

By: Kendall SummerHawk

When I was a kid, I remember the Lillian Vernon catalogues that used to arrive in the mail. Each page was chock full of items that had no real purpose other than they were fun to look at and buy.

As I thumbed through the pages, I wasn't dreaming about what I wanted to purchase (at 14, I didn't have much use for monogrammed teacups and dishtowels). I was picturing how utterly cool it would be to have a mail order business where every day checks arrived, as if by magic, in my mailbox.

Fast forward thirty+ years and I STILL think it's utterly cool to receive orders. Which is why I created an information product in the first year of my coaching business.

What I've learned is that practically any business can create an information product. All it takes is branding, creativity, and an eye for how to turn what you do into a marketable product.

The other thing I've learned is that if you don't have an information product yet, now is the time to focus on creating one.

Why?

Here are my top 5 strategies for how you can use your own information product to create a straight, "as-the-crow-flies" line to putting more money in your pocket.

Strategy #1 You're now THE expert
Nothing will catapult you into expert status faster than an information product. The reason why is simple. Now you're an author and an author is an authority.

Once prospective clients find out you're an author, they immediately believe you're worth more and will seek you out for speaking and interviews, as well as purchasing your service.

Here's a tip: you don't even have to wait until you have your product to say you're an author. You can start adding, "Author of the soon to be released XYZ Home Study Course" to your email signature and other marketing materials. This WILL get you more business and instant prestige! Plus it's really fun to see how impressed people are.

Strategy #2 Give away your product
I know, this sounds like a backwards way to make more but it works. Giving away your product to the right people can get you media exposure, speaking gigs, invitations to be interviewed, and new clients.

The key to making this strategy work is to not be chintzy! Your product doesn't cost that much to produce, yet the lifetime value of a client is worth thousands and tens of thousands. I've sent my book to magazines for reviews, given copies to key people I meet, sent it as a "thank you" to guests on my Ask the Expert Salon teleseminars , donated it to charity auctions, and given it to different businesses to have in their waiting room.

I recommend setting a goal to give away 100 copies of your information product. It's tangible, valuable marketing that costs little and will pay off.

Strategy #3 Bundle your product with other services
Once you have an information product, you can use it as a valued bonus to another service, or you can make owning it a prerequisite for your high-priced workshop (see #4 below). Either way, you're leveraging your product to help you sell more expensive services, adding more to your bottom line.

Strategy #4 Create a signature workshop or training program around your information product
Just because someone buys your product doesn't mean that's all they want. In fact, statistically, you'll have an easier time selling your more expensive workshops or programs to existing clients than to strangers.

For example: my book, Brilliance Unbridled, nearly paid for itself in just the first three months of being published. I had clients signing up for both private and group HorseWise Brilliance Unbridled just from reading the book. What amazed me was that one client didn't even buy the book herself. It was given to her as a gift!

Strategy #5 Get others to include your product in THEIR training, product, or service
A few years ago, my Marketing Makeover Kit was included in a training program for interior re-designers. The training organization purchased copies in bulk from me every couple of months.

I passed this tip on to a colleague of mine who immediately used this strategy and now has 10 copies of her ebook included in the new-student package for a training program. Not only is she making money on the sale of 10 copies each month, she's been asked to speak at an upcoming event.

Did you notice that none of my top 5 strategies included actually selling your information product? Of course, selling your product is an excellent way to bring in the bucks, but I wanted to prove to you how lucrative having an information product is even before you sell actual copies!

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You are welcome to publish this article in its entirety, electronically, or in print free of charge, as long as you include my full signature file for articles, and my Web site address in hyperlink for other sites. Please send a courtesy link or email where you publish to Kendall@KendallSummerHawk.com

Kendall SummerHawk, the "Horse Whisperer for Business" delivers smart, savvy ways entrepreneurs can turn their hectic business into a smooth-running, fun, 6-figure money-making dream.