Did you know that 43% of people skim through blog posts? We’ve all done it before, especially in the age of videos and gifs as communication. So, how do people make money online with these blogs?
Very few do it the old fashion way of building up an audience and earning income on banner ads. That was fine a decade ago, but people aren’t clicking many ads these days. What people are clicking on are digital products to download and purchase.
This is known as information marketing, aka selling information digitally. Digital marketing is a billion dollar industry, and selling information is the ultimate product to sell. All you need is a product that solves a common problem and a strategy to get it in front of people.
It sounds too easy to be true, right? Well, the concept might sound easy, but not everyone knows how information marketing works. This guide will cover the basics and introduce you to the (real) world of making money online.
What Makes Information Marketing Special?
As we mentioned, traditional forms of marketing online, like blogging, require lots of time before turning a profit. You can have the greatest idea or product in the world, but no one is going to buy it if the right audience doesn’t see it. Information marketing is all about tapping into networking and traffic on the internet.
No Physical Limitations
The reason why selling knowledge is superior to selling a great product or service is it’s easier to manage. You don’t have a physical inventory to keep track of. You don’t need to hire staff to manage your business.
You don’t need to catalog anything or communicate directly with clients or customers. This is the foundation of a true “passive income” business. Less time micromanaging, more time spent either reinvesting or relaxing.
Technically, you don’t need any money to begin selling an information product. You can write an eBook, shoot a video, or record a screen cap. The only startup cost is the computer or smartphone you’re on right now.
Information marketing is one of the few legitimate online businesses that require no money upfront. There are many ways to acquire customers, digital products, and scale your business without buying anything. What it will require is lots of time to learn the basics and get/create information products in demand.
Also, because there is no barrier of cost for getting into information marketing, your product is crucial. If you’re selling a generic how-to book with a cheesy ad, nobody will click on it. To do the volume needed to turn a profit, you need to craft a winning strategy.
How To Find And Market To Buyers
The key to getting people to buy your information is to convince them your word is valuable. How do you do that to strangers you’ve never met? Hooking them into an email subscription with free content.
Very few people are going to just click on an ad that tells them to buy from an unknown. Instead, with information marketing, you tell them to enter their email to download a free guide, related to your product. With their email, you can then trickle in more freebies, maybe a few articles a week.
Eventually, you’ve gained their trust that you’re not just a spammer. You use this opportunity to plug your product for a low upfront investment. Those who convert and like your product is now primed for further products and upsells.
The Numbers Game
Look, you don’t need to have the next big idea or sell something completely novel and unique. All you need is an effective strategy and a targeted niche that is filled with willing buyers. You don’t create an information product to sell to kids or already successful businessmen, for example.
You’re creating a product for the desperate, emotional, and naive. It sounds cold and unethical, but it really isn’t if you’re giving them something useful. There are plenty of real pyramid schemes out there that provide zero value besides making a handful of people rich.
Information marketing revolves around finding a need, whether it’s to lose weight or get rich and presenting a solution. Growing your email list with people interested in your introductory product is how you turn a side hustle into a passive income business.
Creating And Selling Your Own Program
You can sell information that is already formatted, packaged, and ready to go. There are plenty of affiliate programs that pay you to grow their customer base. There are also marketplaces, like Clickbank, that you can sell your own product to affiliates.
The sky is the limit on potential earnings as an affiliate vendor. You put together the product, advertising assets, and content, then affiliates do all the work. In order to get the level of support needed to reach a six/seven-figure business, you need to offer a big incentive.
Giving away up to 75% of your sales sounds like small business suicide, but it’s not. A high commission payout demonstrates your confidence with the product you’re selling. Thousands of affiliates promoting your products is better than a handful promoting with a lower commission rate.
Corner A Niche And Crush It
There’s a confusion that in order to reach big sales, you need a mainstream product. Believe it or not, the best income is outside the margins in specialty markets. Rather than attempting to pitch to the majority, catch the eye of clients on a specialty niche.
Don’t stop once you have a few bites, either. You’re in for long haul, making passive income, right? This requires testing your niche market, finding the best demographics, and getting recurring sales.
The formula for growth lies in the numbers and recognizing trends. Each item has its own life cycle. Try not to get fixated on your item and delude yourself into thinking it will never go out of style.
Get Started With Information Marketing
Selling information is one of the oldest businesses around. Information marketing is the natural evolution of selling digital information. You don’t need to know how to sell a fish water in order to succeed.
It all starts with learning how to find and capture the attention of the best audience for your products. There’s a lot of ways to make money online, and this is one of the hottest and easiest to jump into. It all starts with some initiative and dedication.
Start by reading our guide on how to become more productive when working from home. This will prepare you for success by training you how to be your own boss. You don’t start making millions online overnight, it takes a lot of hard work and dedication.