The components of an information product company

The most important asset of your info product company is your email list. You build your email list in various ways:

A) your free material

B) post on many other websites

C) Do a podcast, reminding people to subscribe to your email list.

D) Do videos, appear on other podcasts, write a book, etc.

E) do a giveaway. Like a special report on housing that you get for free the second you sign up for an email list.

This is the spoke and wheel approach I describe in my book, Skip the Line.

I know many info products company that DO NOT have three tiers. This is a big mistake. I will describe the three tiers in the next three points

Your company gives stock picks, for instance. Write a free daily letter generally about the markets, stocks, occasioanl recommendations, stories of investors, etc. This should be the BULK OF YOUR WORK daily even though it is free. This tier is how you build your initial email subscribers,

Offer slightly more value. For instance, high end stock recommendations. Specific entrepeneruship opportunities, etc. in a for-pay newsletter that is CHEAP. Like $5 a month. About 10% of your free email list will convert to paying subscribers who are ready, willing, and able to buy content from you.

This tier should break even.

I find that most info product companies ONLY have this tier and, as a result, have a hard time succeeding.

This is where you make your real money.

With stocks, you put together a good team, you do a lot of research, and you offer a high end subscription service offering access to private deals, for instance.

If your cheap tier is $5 / mo ($60 / year), you can price this tier at $1500-2000., more or less

$300-800 is dead-man's land. Too expensive for the cheap product. Too cheap for the expensive product. These info products don't sell well.

Upsell. When someone buys the cheap product for $50 a year , upsell them a lifetime subscription for $120. The reason for this is that renewals are rare (people change interests, they move onto the next shiny object, etc. So the best way to keep them engaged is to sell them a lifetime membership even if it doesn't look like it makes sense.

Downsel you try to upsell, they skip out of that and now you can do a downsell. They just bought the $50 product. Now for $10 more than can buy a special report

Lifetime: described above

Bundle. If you offer a lot of products, bundle them all together and sell them en masse for a massive discounted price

Note about renewals: Knowing the statistics of renewals, do a renewal campaign where you try to get people to upsell to a bundle right before renewal time.

Every day, as an example. you send out your free email comtaining the new of the day, whatever.

In between some of the paragraphs there are "space ads". These are ads advertising other people's information products. If someone is seling a $2000 "how to buy a cheap house" product you advertise it in your space ads on your FREE list. The typical affiliate deal in these cases can be 50-50. You can make millios doing this if you have a big enough and active enough free list.

You keep your free lilst active by:

- posting every day

- having great content

- don't oversell stuff or you will "burn" your list

Most marketing is very outlandish and for various psychological reasons. The 40 page email, for instance. Why 40 pages? Because if someone reads all of it they will have "Committment Bias" and feeel the need to buy the product

They also use outlandish very sales-y languiage to capture attention. I hate this but it works.

But there's way to keep authentic in the marketing.

The 6Us: urgency, unique, ultra-specific useful, user-friendly, unquestionable proof.

Unquestionable proof comes in the form of testimonials and authority testimonials (e..g. famous people).

Also, answer all arguments before someone asks them. LIke, "why don't you just use your stock picks yourself. Why write about them?"

To test a marketing idea, use a very small FB budget, see if it works. If it does, double down, then double down again, etc.

"Oh, you want to cancel your subscription? No problem. But how about instead we give you lifetime access for just $20 more. You save thousands of dollars this way."

Not distinguising high-end content from cheap content from free content.

Not monetizing your free list

Not properly using customer service

Not constantly upselling

Not introduicing new products all of the time.

Honesty is the most important think you have to offer. Don't build "The Jesus Diet" to make a lot of money.

Offer The Jesus Diet because it's actually the Mediterranean Diet and works.

Believe in what you are selling and be passionate enough about it that you continue to create great content.

This is a small summary but provides the basics if you are thinking of going in this direction.

Editing this a month later

Get your content everywhere. Books, podcasts, videos, instagram, courses, newsletters, put it in sites about different categories, etc.

What are you doing for the bottom 1/3?