Why selling information products is not such a good idea
In the previous post, we discussed the advantages of selling information products online. However, like anything else in the world, this business model with several advantages also carries some disadvantages with it.
The problem of time:
Unlike physical products, ebooks, e-zines, newsletters and the like are part of a real-time system where information can get old, very fast. You are under threat that by the time you produce your material, it would be obsolete.
Research for your subject matter requires time; market research and finding a niche market also requires time. Even providing reports (interviews, consolidating blogs, et cetera) requires that you sit down and set aside a part of your schedule.
If you choose to outsource or sell other people’s ebooks, you may have to create an archive big enough that people will pay to have access to it. You should also be willing to maintain it, to upgrade it, and to provide new content so that people will keep coming back…and keep paying.
All these require the tick of the clock; and that means money.
The problem of money:
Deciding to sell information products means that you will need the following:
- An internet connection.
- A computer.
- Sometimes you’ll need some special software to display and create the product, such as Adobe Acrobat for written work, a sound editing program for audio, or a video editing program for online video.
- Internet real estate, which includes webspace and a domain name.
- Research regarding your market.
- Research on your subject matter and enough material or expertise with which to write.
- The means to deliver the product to your customers, whether it’s through an online shopping cart, your own website, or even the option of creating an affiliate program.
By itself, even marketing your information products can be an expensive endeavor. Whether your expenses come in the form of time or money.
If this sounds like too much trouble to you, then you may want to think twice about doing business with information products. No doubt, selling information products is a great idea; but if you have neither the time nor the money, then you may want to venture elsewhere.
Related Articles:
- Why selling information products is a good idea
- Why am I not making sales?
- Selling products vs selling services (Part 2)
- Tweak Your Online Business
- Selling products vs selling services (Part 1)
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