Want to monetize your knowledge?
Today we take a look at the 7 types of Information Products you could be creating and selling: ebooks, online courses, membership sites...
There is an infoproduct format for everyone depending on your time, revenue expectation, expertise and technical skills!
Are you ready to choose your next infoproduct?
Let's analyze all of them.
Note: This article contains affiliate links to products I use and recommend.
What are Information Products ?
Definition of information products
Let's start with a definition given by IT Law wiki:
"An item that has been derived from one or more sources of information to meet a specific purpose"
This is a good start. But in the online world, it has become more than that. It is not easy to write a definition, but here is my proposal:
INFORMATION PRODUCT DEFINITION
An Information Product is an article (often digital) where data and information are structured in a specific format to instruct, educate or guide the consumer in order to meet a predefined purpose.
Format can be written, audio, video or a combination.
And to narrow further down:
A Great InfoProduct is an information product that provides a process and tools for the customer to address a struggle, to transform from a state A to a state B.
Let's clarify with in/out examples
An eBook about a crime story is not an information product...
...But an eBook about how to investigate a crime is one.
A video of a person playing "Love Me Do" by the Beatles is not an Information Product...
But a video of a person showing you the step-by-step guide to play the same song is one.
You see the difference?
What about Services?
Some websites include services in the definition of Infoproducts such as coaching, consulting, speaking at conferences.
They do deal with information but it depends of your definition of product.
However, in this article, I only consider products which are not based on direct communication with the product creator.
The Main Types of Infoproducts
We will discuss each of the following types of Infoproducts later in the article. But here is a first list to help you make that definition more realistic and put what you read into context:
- eBooks
- Workbook / Templates
- Online Courses
- Webinars
- Virtual Summits
- Membership Sites
- Phone Application
Which InfoProducts to create?
The criteria
Now that you understand better all that an information product can be, let's see how to help you decide which information products to create.
Before you get to the comparison of all those types of information products, take the time to ask yourself the following questions for each criteria to consider:
Time
How much time are you ready to spend on it? And how much effort?
A webinar sure requires less time than a full online course...
Frequency
Do you want to create and be done?
Or are you ready to create content regularly?
An eBook is generating passive income when published while a membership site requires very regular updates and an app requires updates to match technology...
Revenue
How much revenue are you looking to get vs effort?
Do you prefer selling more at a lower price or less but at a higher price?
Even if you are presenting the same process and tools, the perceived value of an online course is greater than the one of an eBook.
Expertise
How much knowledge and experience do you have on the subject?
Are you ready to partner with other experts?
If your expertise on a wide subject is limited, you could offer only a webinar or a simple eBook with a narrow objective...
...or contact other experts to create more complete products such as virtual summits or online courses.
Audience
What is your audience looking for?
What are they already buying?
If your audience are people in debt, they might not be interested in a membership site on how to get and stay out of debt but would appreciate an eBook telling them how to get out of debt this one time.
Technology
How many tools do you master?
Are you ready to learn new technologies?
There are differences between types of information products and within each. For example, you can create an online course only on emails or use a platform and include videos...
The Essential
However keep in mind that, whatever the information product, the ESSENTIAL is to be able to structure your knowledge and communicate it in a way to get people from a state A to a State B.
If you feel you can't do that consider:
- Following a course
- or partnering with someone who has experience in creating impactful infoproducts
The Option of Partnering
Of course, all those criteria can also be addressed by partnering with someone, e.g. :
- If you don't have the time to create a full course, you could hire a consultant to co-create it
- Or you could hire an expert at formatting to publish your eBook
Analysis - Types of Information Products
1. eBook
The eBook
Digital Book that can be read on electronic devices.
Your knowledge is structured in chapters and provided in written word (and images depending on the format).
Examples
- Destination Travel Guide to help reader plan a trip
- Cookbook to help a reader cook
- eBook on How to save money
- eBook on How to manage a vegetable garden
Time / Frequency
You write it once and then it is passive income, only promotion is required.
You may have to update it if technology or data changes but this should be lighter work and not frequent.
Creation time can vary a lot depending on the size of the book and capacities...
Potential Revenue
- Limited Revenue Potential per article
- But Large volume possible as it has an accessible price point
From Few $ to 50$ (top end for more Course-like eBook on large subject)
Level of Expertise
It can vary depending on how narrow the subject is and who is the potential audience.
You just have to be clear when promoting it about what it includes and does not include.
Technical Skills Required
It can be as simple as creating it in a Word and a PowerPoint or Saving it as a PDF.
Or it could be formatted to be flowable and adapt to the size of screens. Then you would have to learn a new software or partner with someone to format it.
How to sell it
- Via Book Platforms like Amazong, Barnes & Noble...
- Directly on your website, selling the file via an eCommerce platform such as Selz
- On a website that specializes in eBook creation and can also sell a printed version e.g. Blurb
Real live ones
They are everywhere! Have a look at:
- my destination Guides which are PDF documents
- the eBooks by ProBlogger to help you manage your blog
- eBooks by Becoming Minimalist to help you declutter your life and live with less
2. Workbook / Templates
The Workbooks and Templates
This is an eBook that you can fill in.
The process has been structured into exercises and formated spaces are left for the customer to complete.
Sometimes sold as an add-on to an eBook but can be stand-alone.
Examples
Workbooks are great to document the analysis of a situation and extract a strategy for it e.g.
- Analyzing you objectives and blog, and deciding on a social media strategy and implementing it
- Analyzing your life, projecting your future and taking actions
- Analyzing your expenses, planning your budget and keeping track
Time / Frequency
You write it once and then it is passive income, only promotion is required.
You may have to update it if technology or data changes but this should be lighter work and not frequent.
2 to 20h to create and format - depending on your readiness on the process and formatting skills
Potential Revenue
- Limited Revenue Potential per article
- But Large volume possible as it has an accessible price point
From Few $ to 50$ (top end for well developed workbook getting big results)
Level of Expertise
You need to be able to transform your process into a clear set of steps and exercises.
Subject expertise varies. Clearly state what is included or not.
Technical Skills Required
It can be as simple as creating it in a Word or Saving it as a PDF. The customer then prints it and writes on it.
A great solution is to use the Adobe software Indesign to format and use form fields. Once saved into an interactive PDF, people can fill it in electronically.
How to sell it
- The best option here is to sell it on your blog using an eCommerce platform like Selz
Real live ones
Even though it is often more practical for customers those are rarely created. People don't always want to read a full book.
- Shining Mom printables to get your life organized
- Innersocialmedianess has a product which is a mix eBook / Workbook about the Pinterest Process
- Bloggers, who help people find their purpose, use a lot of workbooks. But I can't seem to be able to find one now... Sorry
3. Online Course
The Online Course
Program taught via online methods to transfer knowledge and teach how to apply it.
A good course takes a student from a state A to a state B.
Examples
- Course on getting out of debt
- Course on knitting a scarve
- Course on Managing your gluten-free condition
Time / Frequency
You write it once and then it is passive income, only promotion is required.
You may have to update it if technology or data changes but this should be lighter work and not frequent.
Plan several hours a week for several months or Block 1 to 3 weeks in order to create a truly powerful course + time once it is launched to answer the students' questions.
Potential Revenue
- Price can be significantly higher than an eBook
- However time commitment is perceived as higher, hence volume sold is lower
From 30$ to 2000$ (top end for well established authority getting big results)
Level of Expertise
A higher level of expertise is expected for an online course as there is more a promise of result than for the eBook.
You can increase expertise by adding expert interviews inside your course or collaborate with other experts.
Consider taking the quiz: Should you create an online course
Technical Skills Required
It can be as simple a a course sent by email.
Or it can be developed into a more designed product on an online platform with videos, transcripts, worksheets...
How to host and sell it
- You can sell access to an email course via an eCommerce platform
- You can use a hosting platform and their eCommerce system but do the promotion yourself. For example with Teachable
- You can use platforms that do the promotion themselves such as Udemy (bigger audience reached but lower margin and less control for you)
- Or you can create a keyword protected area on your website and sell access via an eCommerce platform such as Selz
Real live ones
- The photography course by Nomadic Matt
- Michelle's course on Making Sense of Affiliate Marketing (I did it and recommend it for beginners in all niches)
- on in another format: the yTravelBlog 30 day Money Cleanse with daily emails to get a new start on your relationship with money (I did it and recommend it, it does help identifying and breaking through money blocks).
- Or The Pinterest Traffic Avalanche with a full step by step to set up your Pinterest to get traffic + Advanced tips to reach even further
4. Webinar
The Webinar
A 1 to 2h video that is produced live to address a narrow specific subject.
Often seen as a way to attract people to bigger products such as membership sites and courses but can be sold in itself.
Examples
- A 1h webinar to make sure your blog has the basics of legal requirements
- A 1h webinar on reworking your résumé
Time / Frequency
You record it one time and then make passive income.
You would have to record another one only if new technics or technology develop
1 to 2h recording + Time to plan content
Potential Revenue
A Webinar is not as actionable as a workbook or a course but if it addresses a very specific pain points it can be valued.
From 10$ to 100$
Level of Expertise
You need expertise of course, but it can be on very specific points. For example you don't have to be the Pinterest overall expert, but if you have created many accounts you can walk customers through the path of creating one themselves.
Technical Skills Required
You need to be able to use a Webinar software and be ready to handle glitches.
How to sell
- Sell access to the page with video via an eCommerce platform such as Selz
- Use one of the platforms that allow you to charge attendees or Sell it once recorded
- Webinar are also great to be included in bundles with your own products or products from other experts
Real live ones
- yTravelBlog sells a pack with 2 webinars to help you turn your blogs into a business
5. Virtual Summit
The Virtual Summit
It is like a conference but online.
You get access to various videos and webinars by experts working around a similar field.
This is really "in" at the moment.
Personally I am not a big fan, because you get a lot of high level content, not a process and you don't get the advantage of connecting with others you have at conferences
Examples
Virtual Summits can be created around wider subjects. For example a Virtual Summit about "Getting your Personal Finance in order" could have speakers about
- how to manage your debts
- how to find the best loan
- How to reduce your expense
- How to buy more for less
- Couponing
- ...
Time / Frequency
This is very time consuming to put together. From managing the speakers, to promoting to making sure everything works in terms of technology.
Potential Revenue
With a wide subject and speakers who can promote the Virtual Submit you get access to a wide audience.
Prices vary from 67$ to hundreds of dollars, there is no common approach.
Level of Expertise
None for you on the subject. You need to be good at organizing and networking. You are counting on the expertise of your speakers.
Technical Skills Required
That can get complicated...
How to sell
As said before you can promote on your website or via a landing page.
And you can promote via your network of speakers.
Real live ones
- Some experienced travel bloggers have partnered to do the Travel Blog Monetization Summit - they even have been further than just the summit as each expert webinar has been transformed into a course with resources and action plan. A lot of it is actually applicable to all niches.
- Problogger has turned its on-site conference into a virtual summit with the virtual ticket
6. Membership Site
The Membership Site
A full website or a section of a website where content can be accessed only by those with a membership.
Great for subject where it is needed to keep up-to-date.
Examples
- Weekly new tips and tutorials to use a highly technical tools
- Daily motivation boost and inspiration
- Weekly member-only webinars around the same topic
Time / Frequency
Content must be added regularly to the membership site to keep people interested and part of the program.
Potential Revenue
Recurring revenue with Annual or monthly membership.
100$ a year to 100$ a month depending of the quantity and technicality of the content.
Level of Expertise
Your expertise needs to be quite high as you will have to bring constantly high quality content to your membership site.
Technical Skills Required
Once your membership area is set up, you only have to publish as per your blog. Plugins can help your manage membership sites
How to sell
Via the plugin or the eCommerce platforms setting up a recurring payment plan.
Real live ones
- Trav and Jason who love the nomadic lifestyle have created the Location Indie community where they share content and access to a community to help develop a location independent business and live a nomadic life
- Scot's membership site with lessons to learn to play the Bass
7. App
The Application
We all have them on our devices!
An App allows an interactive relation with the information.
Examples
- Google maps uses a lot of data and information to allow you to know where you are and get to a point
- Travel guides in the format of Apps
- Apps to find recipes based on what you have in your fridge
- Apps to help you visit a museum
Time / Frequency
Requires quite some time to structure and code the app on top of generating the content.
Plus you will have to constantly make sure they keep working with each upgrade.
Potential Revenue
Considering the amount of work, the revenue is not high as most apps are between free and 10$.
But via the App stores, you get access to millions of users.
Level of Expertise
It varies on the type of apps...
Technical Skills Required
App coding is essential
How to sell
Via the app store for each device
Extra - The question of the blog
Is a blog an information product?
Well yes, if it has a defined purpose and provides information. After all a successful blog can be sold. And you can monetize your blog.
But it is more often considered as a tool to provide access to your brand and expertise and convince people to buy your other information products.
With your posts or videos or webinars, you give a taste of what your information transferring style looks like so that they can see if your products could be a match for them.
Find your Information Products Ideas
Now you just have to find your business idea.
I was going to write more about the fact that to achieve success with any kind of information products, your idea must address a pain.
But Marie Forleo just released a video that answers the points very well. So I leave it to her to explain to you why you should not try to sell your knowledge but answer a need from the customer.
So go back to your audience, interview them, do some research and find what solutions they really need where you could help with your information and knowledge.
Have you decided on the best option for you?
Tell me in the comments
And share it with people thinking aout creating information products
Great stuff thank you.
Great article! Keep it up!
Or answer de
Great information its really helpful. I created my info products and that doing well.
Tres Bonnie votre information.
Je suis medecin etc je veux developper un infoproduct en espagnol pour aider personnes avec des maladies des articulatons. Arthrose, etc.
Merci beaucoup.
Great one.
It really great and helpful.
Thinking of how to create my own information products