Have you ever put A LOT of work into an information product only to have it fall flat on its face? Over the past 7 years, I've created a system for launching information products that works and has brought me over six figures of income. But it wasn't ALWAYS that way. I want to share with you the story of my very first information product flop so you can avoid making the same mistakes I made.
My first information product was a BIG product called Social Media Mastery Summer School. I sold it for $597. My goal was to create a product that could transfer every single thing I knew about social media into the heads of my customers. I spent 3 months – getting the content *just right”. I spend nearly $2500 getting stuff done – transcripts, squeeze pages, web pages, etc.
I had 2 sales – and then one of them asked me for a refund because I overwhelmed them! So I ended up LOSING almost $2000 on the product and I honestly think that if I hadn't been a life-long entrepreneur I would have given up and quit right then and there!
But… I didn't give up and I learned a few lessons about how to create and launch a product right.
(I recorded a free training – How I Made $100K Selling Info Products. Check it out here)
5 Tips to a Successful Information Product Launch
1. Find someone to help you who knows how to do the techy stuff. Even if their hourly rate is higher – you will SAVE money because they know what they are doing. Ask your friends who they know. Check Fiverr.com or one of the other online virtual assistant sites.
2. Don't OVERWHELM your audience. Most entrepreneurs in my community are very heart-centered and very giving. They want to give really good value to their clients The thing is – there is a limit to what people can process at one time. So, it works better to pick a smaller area and give more specific and detailed information on that area. And then you will have content for your second info product.
3. Market more than once. One of the places were people often miss out on sales is their lack of follow up. If you only send one sign up e-mail and one follow up – you are leaving lots of possible sales on the table. You should market your product launch for a full month prior to the launch and then you should market for 2 weeks after it begins. That marketing should include emails, social media posts, videos, webinars and getting others to host you for their audiences.
4 . Measure and Test – Keep an eye on how your marketing is going. Are people opting in? How many? Are your ads bringing you sales? How much? Keep tweaking to keep improving your results.
5. (THIS IS THE BIGGIE) Don't make the product until you have sold it. Stop doing work for free. Focus your efforts on getting people into the program. If they don't sign up – then keep tweaking. All you need to be able to sell it is a great sales page with a description of everything they are going to get and a way for them to buy online. Check out this post on how to create a great sales page.
Want more information on promoting your information product? Click here to download the recording “How I Made $100k Selling Information Products”.
Nice article, thanks! I love your idea of selling it before creating it. I’ll be offering my first business startup training soon. Your tips will come in very handy!
This is very helpful for someone like me who is very detailed oriented and has spent time in the past working on a single product before it sold.
You are so welcome Angel 🙂