Listen up.
I’m going to share a little secret with you about selling information products online.
The real money is made on the back end.
It’s easy to miss this fact with all the hype, sensationalism and “make $500,000 in 3 hours” BS being peddled all over the Internet.
Though there are exceptions, the truth is you’re probably not going to strike it rich selling a $27 ebook or MP3 recording online.
But it doesn’t matter.
Because it’s not about how much you make from the entry level product, it’s what happens after that first sale is made.
That’s where the real income potential comes from.
My last blog post about getting over the myth that people won’t pay for information online ended with a mention of some powerful psychological factors that work in your favor when it comes to selling information products online.
First, when you create and sell authoritative, high-quality information that delivers as promised (or, better yet, overdelivers!), your expert status is greatly enhanced in the buyers’ minds. It helps you build strong bonds with your customers who come to view you as THE go-to expert in your field.
Second, you get the rule of Commitment and Consistency kicking in. When people pay money to buy your information product, they’ve made a commitment to you. And human psychology dictates that people want to stay consistent with their past actions. This means it’s more likely that these people will pay for other products and services you may offer them in the future.
(Quick related side note: One of the most common marketing mistakes I see in any business, online or off, is they don’t market to their existing and/or past customers. That’s a mistake because it is MUCH easier and cheaper to sell to someone who’s already demonstrated a willingness to give you their money than to go out and try to solicit new business.)
So where does this leave you?
You’ve sold your ebook or other entry level product for $17, $27, or whatever and you now have a following of people who regard you as THE expert in your niche, know you, like you and trust you, and have already demonstrated that they’re willing to pay to access the expertise in that big, juicy brain of yours.
When it comes to having a list of prospects, it doesn’t get much better than that!
Leveraging that gift is how you really make money selling information products.
You can do this by:
- Creating and selling higher priced information products like membership sites, teleseminars, webinars, courses, audio CDs, etc.
- Landing lucrative speaking engagements
- Creating group coaching/consulting opportunities
- Organizing bootcamps for your followers (fans)
- Getting highly paid one on one coaching engagements
You see, selling that first information product isn’t so much about the money as it is getting your foot in the door. Once you’ve done that, it’s a lot easier to get invited in and reap the rewards that lay inside!
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Wow! The information posted here is really inspiring. As we all know every one needs extra income to support each others need. And this blog definitely can inspire concerned individuals and could add to the idea we have.