If you have done business on the Internet for a while, you probably have met the term “information marketing“. This is a term that was developed in response to increased limits on people’s time.
Information marketing is a term that describes the process of resolving this problem by making it easy for people to get to the information they want– and the products they wish– as quickly and efficiently as possible.
Examples of ‘Info-products
Once and then sold many times, it typically features products that are created. These are known as “info-products”, and examples include books, eBooks, DVDs, video downloads, workshops, MP3s, audio downloads, slideshows and many other info-products.
One of the biggest benefits of information marketing is its extremely low startup cost. You can buy your original info-product for very little money, change it and then resell it many times over.
Information Marketing Defined
Perhaps the hardest part of information marketing is determining what info-products to sell. Obviously, you want to sell only those info-products for which there is a high demand.
If there are a lot of customers in the marketplace clamoring for the types of info-products you sell, you have a far better chance of driving strong sales and high profits that you would if there were only a few customers looking for the types of info-products you sell.
Sell What You Know
You also want to sell info-products with which you have some familiarity. This will make it easier for you to talk about them with your customers. Odds are your customers will sense this and stay away if you aren’t confident in talking about your info-products.
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– to hit the revenue targets you set for yourself.
Selecting the Best Info-products
The ideal info-product has a broad customer base, is something you are familiar with, and has a high profit margin. How can we find those info-products? The first place to start is to find your niche.
A niche for an information info-product is a market that is a subset of the larger market that focuses on one particular type of info-products. Examples include niches such as weight loss info-products, info-products for sports fans, or info-products related to health and beauty.
Benefits of Niche Info-products
Niche market info-products are the opposite of mass market info-products. A good way to think about niche markets are as specialty stores– such as stores that sell tires and other auto parts– compared to mass markets stores that sell a bit of everything, such as Walmart or Sears.
By choosing to promote info-products and services within a particular niche, it is easier for you to develop an area of ability. This makes you more authoritative to your customers, so they will be more likely to believe in what you have to say.
A niche market also allows you to focus on a specific group of customers: For example, 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.