Yum! Hotcakes + butter + syrup = a pretty irresistible package. Personally, I could eat pancakes every single day and never tire of them. In fact, when I was pregnant with our twin boys, I made my husband take me out for pancakes every single Saturday and Sunday morning for months.
But let me ask you this: Is your information product just as irresistible? Is it selling like hotcakes? Or has your e-book, special report, tool kit, home study course, audio seminar series, [fill in the blank], been collecting dust?
If it’s the latter, don’t worry. You are NOT alone!
The thing is, when you first discover the world of passive revenue streams and come to understand the concept of leveraging your time, it can be intoxicating. You see all these folks out there who are either making windfalls with their own info products or they’re selling you their “proven” info product creation system while proclaiming how “easy” it is to make millions online.
Before you know it, you’re filled with so much excitement and anticipation you can hardly contain yourself.
Unfortunately, however, what ends up happening to a lot of folks is that after they invest all this time, energy and money into creating an e-product, they launch it only to see their shopping cart go dead.
So what happened? Where did they go wrong? Well, here’s the good news. When you get right down to it, there are ONLY 3 reasons why you’re info product isn’t selling. All you have to do is figure out which one (or more) of the following is the problem and then take the necessary action to correct it.
I recommend fixing things in the order I present the possible issues below. Otherwise, if you fix problem #3, but you’re product is also suffering from problem #1, then you still won’t sell a darn thing!
Okay. So let’s dig in.
Problem #1: You created an information product about something that the market didn’t ask for and doesn’t want.
Ouch. Yes, this one hurts the most. After all, when this happens it’s typically because you’ve created an information product around something that you feel passionate about. Something you believe is important. Something you believe can truly help others. And it hurts when the market says, “Thanks, but no thanks.”
But alas, that’s business! And in today’s world, people buy what they WANT… not necessarily what they NEED.
The Fix: Start by doing some homework to see if you can find a related problem that is of value to your audience. A smart place to start is by looking for other info products or educational resources on the same or similar subject that are selling like hotcakes. Today World Info
While you’ll want to bring a fresh perspective for sure, don’t think for a minute that just because someone else has “written the book” on X, Y or Z, that you can’t also write about it. In fact, when people are in a place where they want to learn all about owning real estate, for example, they’re not going to read ONLY one book. They’re going to seek out as much information as they can possibly find on that topic!
So, more than likely, if you do a little digging you can find a new angle or similar topic and end up salvaging at least part of your content by incorporating it into the new and improved info product.
Problem #2: Your ideal customer doesn’t know about your product.
There are two reasons your ideal customers might not know about your product. The first is because you’re talking to the wrong customers. You think your product is perfect for Group A over here, but in reality it’s a better fit for Group B over there.
Here’s an example. A writing coach creates a special report all about how to write your own fictional novel. Only that’s a product trying to reach a really broad target audience. And, while a lot of people talk about writing fiction, often a strong desire to get started isn’t there.
On the other hand, solopreneurs who want to create market buzz and establish themselves as experts have a strong degree of desire. By simply tweaking the focus of the e-book to “how to write your first non-fiction book so that you get noticed,” the writing coach would be able to tap into an easier-to-find audience that also is ready to take action.
Another reason your customers don’t know about your info product is because you haven’t told them. Oh, sure. You have a sales page and maybe you’ve sent out some tweets and some Facebook updates. But you’ve only captured maybe 1% of the total number of eyeballs that you should be reaching.