How To Setup Your Own Information Product
Once you’ve finally got your product together and it’s complete, you can package it up as an information product. This means:
- Fancy Graphics
- A Cool Name
- Sales Letter
- Tech Stuff – Putting Product Online
- Sales Funnel
- Product Delivery
- Customer Support
- Affiliate Program
Let’s start with the cool name. Most people think of their product name before they start the creation phase. I like to develop the name during and after the product creation. You’ll find that you’ll think of a much more appropriate title after you’ve gone through the entire creation process.
Next comes the sales page and fancy graphics. You can’t sell an information product without having a high converting sales letter and fancy graphics. Trust me when I say this – spend money on a professional copywriter and graphic designer. Your investment will be soon returned. Most people try and write their own sales letter and while that can work, it’s stupid.
Unless you’re a professional or know a lot about copywriting then you really ought to spend some money. It can mean the difference of your product’s converting from 1%-10%. Many people think copywriters are so overrated, they really aren’t. Why do you think the top online marketing gurus spend a minimum of tens of thousands of dollars on their sales copy?
It’s because they know it means the difference of their product’s making 6 or 7 + figures. So the first step is the sales letter. You can find a cheap copywriter on the Warrior Forum or by posting ads on freelance websites. You just have to give them your product, tell them a little about what you want and ask them to send you a draft within a week. I have always needed to send back a few drafts for revision.
One your sales letter is done, find a graphic designer using the sites you used to find your copywriter. Just send a copywriter your sales letter as well as your product along with your thoughts and they’ll create some attractive graphics. Make sure to tell them to position them within your sales letter.
This part isn’t exactly enjoyable, but it’s nice to see your product come together. You have to buy your product’s domain name and put your sales page online. Remember to create buy now buttons, they don’t have to link to anything for now. Once you have your domain, you need an actual theme for your sales page. Some people custom code an html page or whatever, but I like to use Optimize Press. Optimize Press is ultra simple and the complete beginner can use it to create sales pages, thank you pages, One Time Offers, capture pages and even membership sites.
Just buy Optimize Press. It’s a normal theme so install WordPress on your new domain followed by Optimize Press. You can select one of the default templates and customize it how you like. This isn’t a full blown product so I can’t go into too many minor details. At this point you should have your product, your sales letter and your sales page graphics in place. Now all you have to do is merge them together and publish your sales page on your new domain using an Optimize Press page.
That’s pretty much it for putting your product online. When I said don’t link your “buy now” buttons to anything, it’s because you need to use a shopping cart of some kind. For complete beginners E-junkie works great. For like $5/month you can use it to sell multiple products, accept payments from all over the world and from many different major credit cards + Paypal. So you should be able to go from there as far as accepting payments goes.
This is another fun part of Information Marketing – you get to design your own sales funnel. Basically your sales funnel is how you make most of the money. You should be making over 60% of your profits AFTER people have bought your product. You could start off by offering an Upsell as soon as someone purchases your product. Let’s say someone finds my sales page of my List Building product and buys. Let’s say the product is priced at $37.
Straight after people buy I could take them to a One Time Offer page where for $97 they get access to a cool List Building pluginf for WordPress. On your OTO page you need another sales page, but it doesn’t have to be as good as the front end page because the people who see your OTO will already trust you. Now imagine I paid $2000 for a 5000 clicks Solo Ad.
(A Solo Ad is where you pay another marketer to send an email to their list promoting your site/sales page/capture page)
For $2000 you might be able to buy 5000 clicks worth of Solo Ads. Let’s say the traffic goes to the sales page and just 2% of the visitors buy. That’s 100 sales x $37 so $3700. Now that was profitable, $1700 in net profit from the Solo Ad and 100 customers in the bank. Out of those 100 customers, just 10% of them might buy the OTO of $97. So that’s another $970 in profit so a total of $2670 from 100 customers.
That’s how an upsell works. Then the people who bought the upsell could be taken to the download area. The 90 people who didn’t could be taken to a downsell which is another OTO that costs substantially less. It could be a series of 10 live webinars on List Building for $25. Since it’s a lower price point, 50% of the 90 customers buy. That’s $1125 in webinar sales and a total of $3795 all from 1 Solo Ad and 100 customers.
That’s why you need to design a proper sales funnel and create it before you accept any orders. The funnel must be in place, you can create the OTO’s using the default OTO Optimize Press template or your own theme/html coding.
This part is easy, it’s delivering the actual product/s to the people who bought. You can actually create a membership site using Optimize Press and have unique login details automatically sent to every customer. If you use a membership site then before hand you must login, upload all the product files and make it look nice. Structure it properly!
Or you can create a simple download page that customers get redirected to straight after their transaction goes through. You must use private file hosting to avoid piracy.
There is nothing worse than an angry customer! Dealing with angry customers is not only annoying, time consuming and tedious – but damn frustrating. My advice is to have a customer support team. There are plenty of cheap services out there, in fact you can outsource customer support to India or the Philippines for pennies.
Whatever you do, don’t do all the work yourself! Most product owners are thick, 90% of their sales come from their own marketing efforts. The top online marketers only account for 5-10% of their total product sales. The rest come from their affiliates and JV partners.
That’s the biggest perk of creating your own products. If they’re good enough, hundreds of others will promote them for you! To start with, you can list your product on affiliate networks. First is Clickbank, the biggest information product market place in the world. Then there’s Digi Results, Pay Dot Com, the Warrior Forum if you’re an IM’er and many others.
The affiliate networks will allow and teach you how to setup your own affiliate program. In regards to percentages, I would pay out a minimum of 75%! Most offline’ers are shocked when I tell them how much commission I pay my affiliates. That’s only because they’re not used to how the online world works. Affiliates can promote any product they choose at the click of a button. Most product owners offer a minimum of 30% up to 100%.
If you want to compete then offer huge commissions on the front end. As remember, using a proper sales funnel you can make a crap load more money on the back end! Remember I talked about the series of 10 webinars I could have as a down sell. Well at the end of the 10th webinar I could pitch a $1000 product and convert maybe 10% of all attendees. Out of the 45 attendees, I might make over $4000. The backend is huge and that’s important to remember
Then there are JV partners. People with big responsive email lists who will promote your product/s if you promote theirs. That’s the usual JV deal most people work out. A you promote my products, I promote yours type of thing. Before you pitch a JV deal to any marketer with an email list, make friends with them. Connect on a personal level for a few weeks, otherwise you’ll kill your chances or cutting a JV deal.