Consultants looking to ramp up their marketing strategy and earn more revenue should consider creating infoproducts. Short for “information products,” infoproducts are effective monetization tools across all niches, and provide an outlet to provide extra value for your audience.
As people seek educational content more frequently, the ability to present prepared content as a remedy to their pain point is an effective method of hooking your ideal client. From this first step in the engagement process, you can continue to engage them to make further purchases of products or services.
Why Infoproducts Are Great for Consultants
Infoproducts are a fantastic first step into the world of passive income for consultants. As people are quick to find out, providing a lot of services to clients is time consuming, draining, and doesn’t leave a lot of time for advancing your business.
Creating products that can meet the needs of your target audience are a way to provide information without active, ongoing effort on your part. You can dedicate several days or weeks to creating a product, place it on your website for sale, and watch the passive income magic happen.
Infoproducts also provide a paid access point between you and your ideal clients. While they allow customers to get a feel for your knowledge and style, well-crafted products can be a stepping stone into more expensive products or services.
5 Infoproducts You Can Create Quickly
Creating new information products doesn't need to be time-consuming or costly. Here are 5 infoproducts you can create for your audience within the next 30 days:
E-Books continue to dominate the world of infoproducts. Hubspot states that 27.7% of marketers use them as lead magnets. They are so popular because they provide an outlet to write on topics that you specialize in, and for the most part, they are relatively short. The average e-book is between 5000-10,000 words, which is not a huge undertaking for someone that has a lot to say on a topic.
E-books are also popular because they can be outsourced to ghostwriters. Many consultants find that they are not able to put their thoughts onto paper, or they can’t find the time between clients. In cases like this, many prefer to consult with a professional writer. This generally entails writing a detailed outline, providing an outline for the writer to work with, and requesting revisions to ensure it is entirely up to your standards.
Webinars also rank high on the list of popular infoproducts. 24.9% of marketers use them as a lead magnet, keeping them hot on the list of well-received passive income products.
Webinars can be an excellent passive income source, particularly when they are “evergreen,” meaning that the topic will still be relevant in a year or two (and so you can market and sell the webinars for many years to come). Webinars are either live or pre-recorded videos that educate your audience on a specific topic in your niche. They serve a dual purpose — they allow you to engage with your live audience, but then can be streamed at any later date.
A lot of marketers use free webinars as a way to funnel their audience into higher paying products and will reference these products throughout the video. Using a webinar as a way to direct your viewers to a high-converting landing page is an effective method of upselling with a passive infoproduct.
#3: Online Courses
Online courses have gained popularity in the past few years, and according to Teachable’s statistics, they aren’t going anywhere anytime soon. In 2020, creators on Teachable’s platform grossed $1 billion, and courses remain wildly popular for consultants.
Online courses are unique because you can take an e-book and break it down further into modules for a course. You can include video, text, resources, podcast videos, and access to a private Facebook group. While a course infoproduct is an initial large undertaking, you will reap the financial rewards well into the future.
Not sure if your audience will buy your course? Don’t worry, most marketers gauge and generate interest through their other marketing channels. Many people even pre-sell courses that have not been created yet.
Courses often require a launching period that includes a well-crafted e-mail marketing and social media campaign, but you can earn far more from selling courses than you can from selling e-books or webinars, so the additional effort is often worth it.
#4: Membership Sites
Membership sites have become quite popular with consultants over the past few years. Marketers see the value in a monthly subscription-based site to form a private community. Membership sites feel exclusive for members as they get access to different resources, videos, and of course, your expertise.
There are lots of different ways to add value to your membership site, and to allow members to ask questions and find a community of like-minded people.
#5: Virtual Summits (Online Conferences)
Virtual summits serve several purposes and should be added to your list of infoproducts for a comprehensive leap in engagement and income.
While summits take time to plan and need a budget to cover hosting fees and supplies, the rewards are numerous. You can either hold a free online summit and gain hundreds (or thousands) of new leads, or offer a paid online conference and grow a new revenue stream for your business. Summit participants can also be ushered into a backend sales funnel for even further profit.
Infoproducts are a worthwhile investment of both time and money for your business. Infoproducts are front-work heavy, but they are a goldmine for lead generation, warming an audience, moving your audience through a sales funnel, and building passive income.