This article was transcribed from a video in my Niche Sherpa Video Coaching Course. Niche Sherpa is THE course for finding profitable niches and building a sustainable online business, with 19 niche-discover videos, step-by-step PDFs, online community, and more. Click here to try Niche Sherpa (almost) free for 14 days!
So the first step in creating your own product is to take the research data that you’ve collected in either doing the private investigator approach or the survey researcher approach, review that survey data and look for the problems that your audience is most struggling with.
And then you take that data and you create a table of contents or the product components outline. So in the case of an e-Book, that’s what you are writing, you are creating out a table of contents, in the case of any kind, other kind of product, they will be software or online audios or online videos, you will outline the product components and the components or the table to contents would have to match the needs of your audience, right what they are most struggling with. So they give you a concrete example.
If you were creating, writing an e-Book on curing acne, there might be specific things that people who are looking to cure their acne want in an e-Book for example. So there might be a listing of great natural creams that they can use to cure their acne or things like that or things that they can do in the meantime before their acne is fully cured or what products they can use to disguise this. So those are the details sort of things that you are looking for in your research data that you would use to create the table of contents or the product components outline.
The second thing is once you’ve decided on sort of the contents of the outline of the product, you decide on a format. You know starting with an e-Book is okay but the perceived value in e-Books is quite low compared to audios or videos or software for example. So one way to increase the value is what I do, you bundle in audios or videos with your e-Books so it’s kind of like a larger bundle of benefits and the perceived value of that is much higher so you can charge a higher price.
Then once you’ve decided on the format, then you write your request for proposal, your job description proposing on a freelance website and that is if you are not going to create the product yourself. Unless you have a ton of time on your hands, I highly recommend you outsource as soon as you can. The biggest mistake I make with my business was not outsourcing sooner. I would have been much further ahead; much sooner if I just delegated a lot of the responsibilities for things that I had done myself which kind of just bogs you down.
There are a bunch of websites, scriptlance.com is a great freelance website, it’s a great place for hiring outsourcers, I use it all the time. Scriptlance sounds like it’s only for programmers, but its not actually. I have hired journalists, I have hired writers, I have hired designers, everything through Scriptlance and it’s fairly inexpensive. Its one of the better priced ones.
Elance is another one, Elance has become much more expensive of late, much more expensive than Scriptlance, I think there’s a lot of gurus recommending Elance and it’s become overrun but its still a great place to get qualified people.
Guru.com is even more expensive than Elance in my experience but you can get some top notch people there if you need some really good designers or what not, guru is another good place. Rentercoder.com is used by a lot of people, I have never had any luck in finding people through Rentercorder but it is a hugely popular site so that’s another one to check out.
Okay so those are the three broad strokes of creating your own product. I am going to come up with a much more detailed plan, PDF document that will be in the PDF, step by step PDF section, so you can look out for that soon.
Okay so as I had mentioned in the previous slide, one of the biggest mistakes that people make is either creating or choosing affiliate product that is very cheap, that is very inexpensive and they loose money or they don’t make much money by doing that. So the question is, how can you create an info product that you can charge a lot of money for. And as I alluded to you before, you can increase or perceive value of product and that is the key, the key word there is perceived, perceive value. As I mentioned online videos often have a higher perceived value than a PDF even though in some cases, the video is easier to make by the creator. So how can you do this?
As I mentioned, you can bundle your e-Book with audio interviews, videos, software, bonus PDFs, as I am doing with this course. It can be a consultation, it can be email, chats back and forth, basically whatever your audience is looking for, that’s how you can figure out the bonuses or the extra things that you bundle into benefits, your benefits package with the e-Book and maybe you don’t even go with an e-Book actually, maybe you just start with audio interviews or something else, okay.
So where can you get this value added products from? Okay you can, audio interviews, you can use to create your – the audio interviews that you use to create your e-Book, you can bundle them with the e-Book itself. So one of the quickest ways of getting a product done is just to interview somebody. Interview an expert or interview a survivor, interview a case study and then once you’ve had the interview done, you use that, you use the transcripts from the interview to create an e-Book, well why not bundle the audio interview files in with the e-Book itself?
So that’s one great way of doing it and I do that myself in my business. And then what you can do is, you can add free videos from the web like from YouTube, all you have to do is you say here is bonus that comes with my information products. I am going to send you 10 free videos on doing X, on how to get a date after you’ve cured acne for example, you can get those for free from YouTube and the simple fact that you’ve done the research for the customer and you found the best videos even though they are free on YouTube, people would appreciate that you search for those and that you’ve gotten the best ones, you’ve done the research for them.
Another place you can get value added products from is private label right product, or PLR products. PLR products are basically information products like e-Books and software and what not that people create and then they sell the rights to other people. So you can buy the private label rights for a piece of software for example which would enable you to then go and give away that software or resell it yourself actually and that’s a great way of adding value. You can also license products which is similar to private label rights but different in that you are licensing them and you are not actually buying the rights. You can also bundle in software. Software is actually fairly easy to get developed these days because there are so many programmers from developing countries who are highly skilled but charge much less than western counties and you can get, so you can also get software developed fairly cheaply and then easily, from the sites that I mentioned like Scriptlance.
So here are some sorts of information, my ideas for information and how you can get that information for your information products. So if you niche is looking for example authoritative information on some problems they have, you can interview an expert. You can hire an interviewer on Elance or Scriptlance as I mentioned, get the interview to find an expert and do the interview for you, transcribe the interview and turn it into an e-Book plus an expert audio interview and then take some of the e-Book content and turn it into a seven day e-Course that you would put on your website and you would get people to give you their email address on your website in exchange for this e-course. So here’s how it would go.
People would come to your website, they would see an opt-in form for the seven day e-course, they would give their email address and their first name and click submit and then they would go to a page where your offering for sale the book, the e-Book along with the audio interviews bundled into one package and the package would be basically expert answers to whatever questions your audience is looking to have answers. Okay so here are some examples.
If you are in the infertility niche, you can interview a respected medical doctor, okay. If you are into pet health, interview a vetenarian. If you are in the relationships niche, you can interview a psychologist on how to improve relationships for example. So interviewing an expert is an excellent way of creating content and creating products because people are often looking for authority and information. They just don’t obviously want job low creating a product and trying to sell it to them. They are looking for people who are experts. So that’s one way.
Here is another way that I do in my own health business, survivor stories. People love survivor, I guess that’s why the TV show survivor is so popular. But they love hearing stories of triumph of people who have overcome a serious problem including health problems. So it’s quite similar the process as in the previous one.
Hire an interviewer on one of the freelance websites, get the interview where to find survivors and do the interviews. So you are not actually doing the finding or the interviewing yourself unless of course you would like to then if you are into that and if you enjoy that, that’s great. But otherwise you can go to the freelance websites and you can actually hire somebody to do the interviewing and to find the survivors for you and I have done that before it works quite well.
And then again you transcribe the interviews, turn it into an e-Book and all your case studies file and MP3s for example and then take some e-Book content and again turn it into a 70 e-Course. This is like a formula, I have followed this formula successfully and I know that there are hundreds of information marketers on click bank alone who have done this.
So here are a couple of examples. How to overcome ex-health problem, trying out from experience works and how to get out of debt or climate of bankruptcy for example. So you would interview people who have climbed out of bankruptcy and they become millionaires for example. Or you would interview people who have overcome a health problem through natural means for example instead of using drugs, so that’s a couple of examples.
Okay so that’s it for Module 8, that’s developing offers in a nut shell. So we’ve covered how to find affiliate product, how to create your own product and we’ve also covered the importance of understanding what an offer is, essentially what it is, is a bundle of benefits. And you always have to make sure that you are creating a bundle of benefits that is of perceived higher value than what you are asking your customer to pay for it. So next steps go into the homework section and complete the developing offer worksheet. I put down four hours here for a time commitment, might not take you that long, depends on how good your niche research has been. But anyway that is kind of rule of thumb. So that’s it for Module 8 and I will see you on the next video.
I've been making money online since 2009 and have a passion for research. My focus is niche research: finding profitable niches, keyword research, and competition analysis, as well as creating outstanding content.
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