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“Give a man a fish and you feed him for a day. Teach him to fish and you feed him for a lifetime.”
If you teach your prospects how to fish/solve any problem they’re dealing with, then all you have to do is introduce them to your info products.
Your info products will help your prospects and customers to learn how to fish and stay fed for a lifetime.
Simple analogy, right?
But before actually offering your info products to your audience, you need to first choose which type of info product to sell—the one that’s actually right for your audience…
And that’s where this article comes in…
In it, I’ll tell you:
- Why should you sell info products in 2021 and which type of info product will work best for your audience.
- The key questions you need to ask yourself when choosing the right type of info product to sell.
- And how to determine your price point so you can start selling your info products this year.
Ready to start teaching your audience how to fish? The first thing you need to do is choose your type of info product and ask yourself…
Why Should You Sell Info Products in 2021?
Short answer is because people will buy them even before you create them.
Wait, how does that work?
It works like this…
Before creating your info product, you can actually pre-sell your info product idea.
Then, you just see how many people are interested in it. And then after you’ve seen the validation of the market, that’s when you’ll go ahead and create it and launch it.
I’ve actually done that myself here at AutoGrow.
I’ve pre-sold to my audience an info product idea.
And once I put it out there, I was like, “wow, someone really bought this? I don’t even know what I’m selling!”
Then I got more orders and we kind of followed the market from there to create the actual info product.
And that’s part of how I have done research here at AutoGrow—by using our survey funnel and reviewing data from the survey form.
That was a big help when pre-selling my info product idea.
I took a look at who was opting in to our email list, how they self-segment themselves (SaaS businesses, consultants, agency owners, eCommerce stores, etc.), and what they reported are their biggest problems.
And that’s when I took all that data and created the info product.
Finally, I put it through the key stages of an info products’ sales cycle and started selling it.
Because there’s usually a point in any successful info product launch when you come up with a new product idea.
Sounds dumb but it’s a key part of the process…
At that moment, you almost feel like the market is pulling it out of you.
And BOOM—that’s exactly the moment where you make sure there’s a strong desire in your audience for whatever it is you’re planning to create and sell.
So as long as you create an info product that you’re sure your audience needs, then you could even sell it before creating it.
Here’s a very detailed chart with information about why you should create your info products…
And now that you know why you should sell your info products, we’ll soon be seeing what types of info products to sell in 2021 that will best suit your audience’s needs…
But First… 5 Key Questions to Answer Before Choosing Your Type of Info Product
Before we continue, there are some important questions you need to think about before choosing your type of info product to sell.
Since you’ll create it from scratch and make sure people love it, you need to make sure everything’s properly planned first.
That being said, let’s quickly go through those key questions so you can start giving them some thought…
1. How Much Time Are You Willing to Invest in Creating Your Info Product?
The time you can put into your info product will determine the type of info product that you’ll end up creating.
Because there are some type of info products to sell that require much more time in their production phase.
For example, a checklist can be less time-consuming than putting together training videos.
So be sure to consider how much time you can put into your info product creation.
And remember, that time is an investment. Not just “spent time.”
2. How Involved Do You Want to Be in the Creation of Your Info Product?
Will you be delegating the creation of your info product? Or will you take full ownership?
So think about whether you want your product to be a standalone success or if you’re okay with continually putting your time and effort into helping your customers get value out of it.
Because while an online course may require you to actively check in with participants, a video series is probably more of a passive source of income.
3. How Much Money Are You Aiming to Make After Selling It?
The time you invest in your info product should be correlated to the value of it and how much you can charge for it.
Because normally, the more time and effort you put into it, the more value you’ll be adding to the product, and you could charge more for it.
That being said, this only applies to products in markets that are well-researched and built for an audience that actually needs it.
4. What Can Your Target Audience Afford?
Your audience’s affordability will help determine your info product’s pricing. Because obviously you need price anchoring for any of your products…
So if for example, your target audience is students or people who had recently graduated from college, then they’d probably have a limited budget. Therefore, they won’t be able to buy an expensive product.
But if your target audience is mid-career professionals, then they might be able to afford a more premium service like high-ticket products.
5. What’s Your Level of Expertise?
This is an important question to ask yourself.
How much experience or knowledge do you have so you can actually create your info product?
Remember, any types of info products to sell must convey value to your audience.
And that’s exactly why I’m asking you what’s your level of expertise.
Because if you’re a newbie or don’t have a lot of experience in a specific topic, then it’ll be better to go after an easier type of info product like a template, checklist, or worksheet.
But the downside to creating a simpler info product is that you won’t be able to charge a lot, but you won’t ruin your reputation either.
Because if you sell something that’s not good, people will notice it and they’ll be angry that they spent money on something that doesn’t really offer much value.
And after that bad experience, they’ll go and tell others about it.
Alright. Now that you’ve answered these important questions you’ve asked yourself (anyone else like talking to themselves?), let’s find out how to…
Determine Your Price Point
Your price point will depend on mainly 2 things.
First, the amount of time and effort you put into creating your info product.
And second, (to an even greater degree) how much your audience can afford to pay for it.
As I mentioned above, your level of expertise will help determine how much value you can add to your audience. And the amount of effort you put into it should also correspond with the value of your info product.
It all comes down to creating a high-value product with high effort.
That being said, you need to understand your audience better to know what they can afford before determining your pricing.
Because you could spend 10 weeks putting together a 10-hour online course, but if your audience can’t afford it, guess what?…
It won’t sell.
And all your time, energy, and effort will be money down the drain.
So with just a little bit of research, you’ll be able to find out what your audience is needing, wanting, and how much they can pay for that.
Because remember, data, research, and stats matter. They matter a lot.
And it’s why eCommerce stores look into holiday shopping statistics and trends so they can strategically adjust their sales and marketing strategies around the holidays.
So when determining your price point, do some research and see what your competition is doing.
Because if they’re already selling a $199 webinar and private group combo, it’ll be unlikely that your audience will invest in a $499 online course with you.
So start small and work up to a higher price as they gain trust in you (AND as you gain confidence in yourself and your understanding of who your audience is).
And wanna know one of my favorite ways to start small and move up to a higher price?
It is by offering a “pre-sale”.
Pre-selling your info products lets you offer your product at a significantly lower price point without devaluing it.
And by allowing your audience to come in at a “special rate” prior to selling to the general public, they get a price they can afford.
And you can say, “Hey, this product is actually worth XX dollars, so you’re getting a really special deal!”
Everything understood so far?
Cool, let’s jump right into the main types of info products to sell in 2021.
#1 Type of Info Product to Sell in 2021: Online Training Courses
My favorite one!
I love to see our audience getting so much value out of our own online training.
It’s such an easy way to learn and get educated on a topic.
You don’t need to go through long, tedious physical papers. It’s all right on your computer.
And people love that.
If you’ve taken a course online once, then you understand how digital learning works.
So if you’re considering creating an online course as your info product, it will require a significant level of expertise on the subject, low cost, a significant time investment, and it will give you a high profit.
And if you don’t know how to create it or how to sell your online courses, we can talk about it more later.
Right now let’s focus on the idea, and then, we can focus more on the execution.
Online courses and training usually include multiple modules and offer an in-depth review of your given subject.
At AutoGrow, for example, we offer our 6-Figure Sales Funnel online training where I teach our audience how to create a 6-figure client lead generation funnel in 3 weeks without risking $1 on ads.
But there are plenty of other examples of online training you can create for your online training courses.
All you have to do is choose your topic and create the training.
And if you don’t know how to create and sell your info products, here’s an online sales funnel you can find some inspiration from.
Right now, online courses are selling like hot cakes.
We did this in less than 7 days of marketing an online class that didn’t even exist (and with limited social proof for that reason).
So if you’re skeptical about the power of online courses, check out the numbers above from our case study.
#2 Type of Info Product to Sell: eBooks
eBooks are a digital book available online and a great lead magnet example.
According to HubSpot, ebooks are the most popular form of lead magnet and 27.7% of marketers use them today.
Depending on the length—which according to HubSpot the average is between 5k and 10k words—writing an eBook can be a bit time-consuming.
Tell me about it!
Back in 2018 I wrote my very own eBook “Productize & RELAX”.
It took me a while to put it together. But once I started selling it, it was flying off the digital shelves faster than I ever expected.
Because if you know your topic, it shouldn’t be too difficult to write it and sell it.
In the case of my eBook, I teach other entrepreneurs and business owners like you how to transition your business model from “roller coaster” and exhaustion to a scalable productized business with predictable sales.
So whatever topic you have in mind, just type it out as a conventional book you would read at home—but with the slight difference that its format will be online.
Ok, let’s move on to the next type of info product to sell…
#3 Type of Info Product to Sell: Webinars
Webinars are live or pre-recorded videos that usually last for 1 to 2 hours and that you can host anytime with minimal resources.
According to HubSpot, 24.9% of marketers are using webinars.
In fact, adding automated webinars to your sales funnel (typically later in the funnel) is a good way to add an additional revenue stream, but you can achieve significantly better results with a live webinar.
The topic could be anything—depending on your level of expertise.
Webinars tend to convert really well because today’s audience tends to favor visual products over written ones.
Now, webinars in the traditional sense are more often offered as free events in exchange for your email and your attention.
We actually offer clients a free demo webinar where they can learn more about our service, our pricing, and about the problem we solve for them.
If you don’t know how to create demo videos or webinars, they’re very simple to make.
However, selling them as a live training product is not uncommon.
One big plus: you can record a webinar and continue to sell it after the fact, though it might negatively impact conversions.
#4 Type of Info Product to Sell: Facebook Groups or Private Communities
Facebook groups are actually one of the best lead generation tactics for coaches.
And it’s something you should be doing too.
Because Facebook groups and private communities are a source of potential customers.
Prospects want to join a community or pay for a membership that can provide them with useful tips, information, and solutions to any problem they may have.
And when you offer them an all-in-one “place” or “space” with the valuable resources they’ve been waiting for, then they’ll take their wallets out of their pockets and actually pay to be there.
There are sites like Slack or Facebook that with a private URL and a password can offer an easy way to share ongoing tips and information with their participants.
You may not make a lot of money off of groups immediately, but they go a long way towards building trust in your brand.
So, if you don’t know how to grow a Facebook group, that can be a topic for another day. But the important thing is for you to know is this is a monster type of info product to sell in 2021.
But here’s the thing.
When you commit to creating this type of info product, you must know that it will require ongoing participation from you.
But they also tend to be one of the cheaper types of info products to sell.
So that’s something else to consider.
#5 Type of Info Product to Sell: Workbooks
Workbooks are usually one of the easiest types of info products to create and sell.
They are a structured form with questions and exercises for the person to fill out.
Workbooks are great for different audiences.
For example, if you’re a real estate coach, you could create a workbook about “Creating a Budget to Get Out of Debt Before Buying a House.”
Or if you’re a health coach, you could create a “Designing a Healthy Eating Plan to Lose Weight” workbook.
The topic can be literally anything.
And if you decide on creating a workbook as your type of info product, you could even sell it as a stand-alone product or add it on as an upsell with another info product.
#6 Type of Info Product to Sell: Case Study
Offering your audience exclusive access to a compelling case study is a great way to gain their trust.
With your case study, you also want to ask for more information from the prospect, (email address and phone number) because someone interested in a case study is interested in your service.
This type of info product to sell is simply a good offer if you’re in an industry where viewers are interested in how to accomplish something step by step.
#7 Type of Info Product to Sell: Checklists
In our experience, checklists convert the best quality leads out of all the lead magnet types and make great info products.
This is because they are easy to create and consume, and are low-commitment.
They eliminate guesswork and prospects get their value right away.
They’re high-converting because checklists can work across any business industry. They put together everything that your site’s visitor needs to know into one, actionable list.
Another reason why you should create a checklist and offer it to your audience is that you can literally turn anything into a checklist.
Have a training course?… Split the modules or lessons into several numbered steps.
Have an article in your blog post with the highest traffic?… Simplify it into a series of bullet points with checkboxes.
Have a compelling eBook that you haven’t yet published?… Turn it into a solid checklist.
Checklists are easy to create no matter what marketing gurus tell you.
Another thing that makes checklists so effective is that they’re often offered as content upgrades.
As you already know, the more email opt-ins you collect, the more opportunities you have to build a strong relationship with your audience.
Content upgrades for checklists grow your email list by giving readers a free bonus download that’s directly related to the article they’re reading. The checklist is an “upgrade” because it’s a value-add to consuming the article.
Another really cool thing about checklists and why they convert so well is that they can be used in all types of businesses.
You’re in the food industry?… Go with a checklist.
You’re in the fashion industry?… Go with a checklist.
You’re in the photography industry?… Go with a checklist.
You’re a SaaS business?… Go with a checklist.
You’re a startup getting off the ground?… Go with a checklist.
They can go from something simple like how to plan your next vacation with your family, or how to create the perfect Thanksgiving dinner, to how to prepare for take-off at an airport if you’re a pilot.
Think for a second how many car accidents happen every day vs. how many flight accidents happen every year.
The secret? A checklist!
Airplane pilots follow detailed checklists while taxi and car drivers don’t.
And a pre-flight checklist isn’t any different than what you can offer to your prospects.
Obviously the content changes depending on each business, but the essence doesn’t. So offering checklists to your prospects is the easiest way to help them successfully follow guidelines, accomplish a goal they’re after, and give them unmistakable value.
#8 Type of Info Product to Sell: Swipe File
This type of info product works because:
- Your audience likes examples that act as templates—this is something you know they already want (and find value in).
- It contains specific numbers—a title that says “101 examples” is specific and clear, and it’s a substantial amount of information. And if you add some sort of social proof like “1,000,000 people have already downloaded it,” that makes opting in even more compelling.
We’ve been selling our “Ultimate Swipe File for Business Sales Funnels” for a while now and it’s amazing to see how it is one of our top selling info products.
#9 Type of Info Product to Sell: Research Reports
Research from MarketingCharts found that the content types that produce leads with the highest customer conversion rates are actually research reports with 46%. That’s followed by video/motion graphics at 44%, and social media content with 42%.
Research reports give your customers the knowledge they need to spot opportunities, lower risks, and outsell your competitors.
Market research reports are the tool that allows your audience to solve business challenges quickly. Not only do they give their business credibility, but the objective information they receive gives them the confidence they need to make swift decisions.
#10 Type of Info Product to Sell: Paid Subscription Newsletter
When you create killer newsletters and send them to your audience, you don’t always have to send them for free.
You can actually send newsletters and charge for them.
There are plenty of businesses out there selling newsletters as their type of info product.
Because newsletters are much more than a way to skyrocket your number of email subscribers. They’re a way to also grow revenue and create a legacy.
Take Warren Buffet as an example.
Four decades ago, he sent out an annual newsletter early on his career as an investor. And nowadays, those newsletters are a must-read for anyone in the investment industry.
They’re so valuable that people actually pay to get access to those newsletters.
So if you’re looking for an info product type to sell, then subscription newsletters may be the best option for you.
And if you send them consistently, it can bring you a high ROI according to Smart Insights.
#11 Type of Info Product to Sell: Membership Site
Membership sites are any part of your online business that provides customers with gated content.
That gate refers to the “wall” that limits access to your content to only those who pay to be let in.
So customers who get access to a members area with exclusive content and privileges will start reaping the benefits of absorbing exclusive knowledge there.
Just imagine for a second that instead of movies and shows, Netflix actually provided training, video, podcasts, or any other valuable resource you could learn from.
Before selling your info products, you must determine first which type you’ll create.
And to choose your type of info product to sell in 2021, you need to first know what your audience needs and is willing to pay for.
Then, and only then, you can determine your price point in order to start selling your info products.
There are plenty of options to choose from—webinars, online courses, workbooks, private communities, ebooks, research reports—anything you can sell as a valuable resource to your audience will work!
But if you’re stuck wondering what type of info product to sell and how to add it to your sales funnel to start seeing customers flowing in, then all you have to do is reach out to AutoGrow.
We can help you implement any creative or marketing-related idea into your sales funnel strategy. And we can also help you with your info product idea strategy—i.e. how to put it in front of the right audience.
Now tell me something, are you currently selling an info product as part of your sales funnel?
In which industry are you selling them?
Let me know in the comments below.
Keep AutoGrowin’, stay focused.
Learn video podcasting using Google Hangouts on Air and Webinar Jam. sourceRead more
They’ve also done a little interview with me which, if you’re interested, you can read here
This is the 5th edition of our “From the Vault” series – where we bring you the best still-relevant articles we’ve ever published around a specific topic.
You can see it as a kind of a makeshift ebook, or a textual, on-demand online course of sorts.
We do it because we think curating great content is the best thing we can do for our readers. Sometimes it’s even more valuable than publishing great new content.
And this time, the links below will take you on a journey full of Customer Segmentation know-how.
Rarely does one size fit all. And that is why we need customer segmentation as the base of any marketing strategy.
The next generation of customers has arrived. Are you ready for them?
With AI-powered automation, marketing becomes faster and more data-driven, which makes it more targeted and more effective.
Getting your customer segmentation wrong can ruin your business. Check these five segmentation pitfalls and make sure to avoid them.
An inside look at the makeup retailer’s strategic customer segmentation plan.
Keep your content (and readers) on their toes with these six copywriting trends.
Explore more From the Vault:Read more
If you are not Alyssa Raine, then here’s a summary of what’s in this article:
- A follow up on PostFunnel’s CRM analysis taken on Walgreens back in July 2020
- Though they got a better score on the Relevancy commandment, Walgreens still isn’t exhibiting realtime personalization tactics
- There’s also some room for improvement on how they use social media to support CRM
If you ARE Alyssa Raine, then, hi!
Dear Ms. Raine, Group Vice President, Customer Marketing Platforms at Walgreens.
I’m writing you because back in July 2020, we at PostFunnel – a publication dedicated to everything relationship marketing (O&O by Optimove) – analyzed Walgreens’ relationship marketing tactics, according to our “7 commandments” for basic CRM practices for the kind of world we live in today. In other words, through the lens of how brands should behave in a post-COVID-19 world in order to improve their chances of building meaningful customer relationships.
You can read more about the method at the bottom of this page.
Point is, we ran this analysis for your brand back in the summer of 2020. You can see the full analysis here.
And now, we wanted to revisit it, see what has changed – what has improved, stagnated, or gotten worse. After all, we all know these things are dynamic. And make sure you see this update.
So, let’s cut to the chase. Back then, yours was only the 8th brand we analyzed, and you scored 70%. Which, at the time, was enough for 6th place. Now, 39 brands in, it’s good for 26th.
You did great at offering relevant and useful promotions to customers, and at being transparent and helpful as a company. You scored lower on the realtime personalization and social media commandments.
Now, seven months later – we came back to look at these customer relationship marketing practices and would like to bring the following to your attention.
What’s Gone Better
Last time, we wrote about the banner below, “The only message regarding shipping and pickup options was this one, for canvas prints. A bit tone-deaf.”
We were happy to see that, since then, you added a lot more info about your pickup and delivery services – which are very basic requirements customers have in today’s reality. For instance, on the Walgreens HP, it says:
You also added the HP banner below to provide customers with all the info they need on the various shopping methods – and it seems as if Walgreens added new ways to ease the shopping experience for customers, too:
Therefore, on the “Be Relevant” commandment, it’s safe to say your score on this commandment should now go from 8 to a perfect 10.
What’s Not Better
Last time, we explained that the 0 points on realtime personalization really hurt your rankings.
Unfortunately, this hasn’t changed as far as our visits to your site showed.
We checked to see whether Walgreens will personalize our experience to suit our products of interest. So, this time we added shampoos and hair care products to our shopping cart.
When scrolling down to the bottom of the page after adding shampoo to our cart, we did notice similar item suggestions, as shown in the image below:
However, when going back to the homepage – nothing changed to provide us with a more personalized shopping experience.
Realtime personalization goes well beyond showcasing the simple “people also bought” component to different customers on the same product page. It has a lot to do with delivering a personalized experience that can anticipate what the customer would most likely want to shop at any given moment, according to their behavior. We did not see evidence for this.
Furthermore, we weren’t retargeted (once again) in realtime with Walgreens ads when logging off the site and hopping onto our social media accounts. So, maybe not a 0/10, but certainly nothing significantly higher.
Leverage Social Media
We wrote back in July, “Could the second-largest pharmaceutical chain in the United States be doing more on social media, though? Running contests, giveaways, hosting shows, and so much more would be appreciated, especially since many of us are still social distancing at home.”
On Instagram, we did notice you using the Insta story feature as opposed to its neglection at the time of July’s analysis. Kudos to that!
However, on Instagram, you still post on a weekly basis, with your last post being on Valentine’s Day:
View this post on Instagram
The same goes for Twitter and Facebook. Though Walgreens posts every few days here, we still think that the second-largest pharmaceutical chain in the United States could be doing more – at least one post a day to keep customers engaged. And it’s not just the frequency, it’s also the content. Too bad!
Scoring Walgreens again would not yield a significantly higher score than the original one. And it was important for us to point this all out to you.
Thing is, as you probably know, and as established by extensive Optimove research – brands can drive business growth through existing customers to a point where their CRM’s contribution to the company’s revenue can get to even 30%. Sometimes, even higher. The technology and knowledge of how to achieve it exists. With customer acquisition costs being always on the rise, investing in existing customers is only getting more important.
About the 7 Commandments for Basic CRM Tactics for the post-coronavirus-outbreak world:
We have a saying here at PostFunnel: All marketing is relationship marketing. Why? Because every touchpoint with a potential customer impacts the kind of relationship, they will have with a brand, if and when they become customers. Even branding has. It’s like what people hear about their upcoming blind-date can determine the actual meeting’s success.
In recent years, it meant that the ways brands support global, social, environmental, and even political causes have become increasingly critical to their relationships with customers.
Then, 2020 happened. With its global pandemic’s tragedy, economic downturn, and historical social and political turmoils – people turned their eyes to brands, almost as much as they have to governments. Expecting and judging brands by how they conduct themselves throughout such events was never more crucial to a company’s CRM success.
One after the other, the internet got flooded with articles advising marketing and CRM leaders on how to make sure their brand is suited for this new reality. So, we combed dozens of them – and came up with a list of 7 staples that appeared in most of those articles.
The 7 most essential commandments a brand must follow these days to make sure they put themselves in the best position possible to develop long, meaningful relationships with their customers.
The 7 commandments are:
1) Transparency. Show the human side of your brand
2) Give incentives and perks (that make sense)
3) Be relevant (with your language, offering)
4) Be helpful (improve your communities’ lives)
5) Personalize in realtime (cause, duh)
6) Master UX (slow, clunky websites are no longer an option)
7) Leverage social media (don’t just treat it as a sales channel)
Yup, that’s all. Without being at least decent at all of these, your CRM efforts will struggle to achieve their full potential.
And, let’s be honest, it’s not too much to ask of a brand, right?
Yet, you’ll be surprised how many well-known brands fall short too often when analyzed through these lenses.
Still, it makes some sense – these changes are happening fast, and not all brands can react and adapt quickly enough and on all fronts.
And we’re here to follow these reactions and adjustments as they happen.
The post A Letter to Alyssa Raine: An Update On Walgreen’s Basic CRM Tactics appeared first on Post Funnel.Read more
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