Given the vast amount of information we all encounter in our everyday lives, there is a daily information overload that prevents us from processing what we see and hear efficiently.
Information marketing refers to the process of resolving this problem by making it easy for people to get to the information they want as quickly and efficiently as possible. It features products that are created once and then sold many times.
These products — known as “info products” – include such things as books, eBooks, DVDs, video downloads, workshops, MP3s, audio downloads, slideshows and many other infoproducts.
Why Information Marketing?
One of the biggest benefits of information marketing is its extremely low startup cost. In most cases, you can purchase your original infoproduct for very little money, modify it and then resell it many times over.
Challenge of Information Marketing
Perhaps the hardest part of information marketing is determining what infoproducts to sell. Obviously, you want to sell only those infoproducts for which there is a high demand.
If there are a lot of customers who want the kinds of infoproducts you sell or promote, you have a much better chance of driving strong sales and high profits than you would if there were only a few customers looking for the types of infoproducts you sell.
Choose Familiar Products
It’s important to choose infoproducts with which you have some familiarity. This will make it easier for you to talk about them with your customers.
If you aren’t familiar with your own infoproducts, it’s likely that your customers will sense this and stay away.
What Are Information Products Worth?
Another important factor is assessing how much money you can make from a particular infoproduct. If your profit margin is low, you are going to have to see a lot more infoproducts – and work a lot harder – just to hit the minimum revenue targets you set for yourself.
So the ideal infoproduct has a broad customer base, is something you are familiar with, and has a high profit margin.
Identifying the Best Niche
How can you find those kinds of infoproducts to promote? The first place to start is to determine is your niche. A niche for an information infoproduct is a market that is a subset of the larger market that focuses on one particular type of infoproducts.
Popular niches include such things as weight loss infoproduct s, infoproduct s aimed at sports fans, or infoproduct s related to relationships and dating.
Mass market products are the opposite of niche market infoproducts. Niche markets are more like specialty stores – such as stores that sell tires and other auto parts – compared to mass markets stores that sell a little bit of everything, such as Kmart or Sears.
Narrowing Your Scope
By choosing to promote infoproducts and services within a particular niche, you can develop an area of expertise. This makes you more authoritative to your customers, so they will be more likely to believe in what you have to say.
Niche markets also allow you to focus on a specific group of customers. For example, you can build your Internet marketing business around only those people who are interested in infoproducts 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.