You may already be using info products to create passive income – but have you thought about creating multiple income streams?
There are more ways than you may have factored into your sales funnel, when you set out to create that first information product. If that was some time ago, and the product is still bringing in a trickle of money, go back and revisit it.
A Unique Way To Make More Out Of Less
There are several traditional methods to making more info products out of existing ones: however, I’m a firm believer in always looking for the “lone wolf” idea.
My first suggestion: Kill the fear! (That probably wasn’t what you expected me to say, at all…)
Exactly what do I mean by that?
Well, one way to increase your online passive income (especially if you are new) involves taking away the hesitancy factor, when people consider investing in your product. Why spend time creating a video version of your eBook or splitting it into low-cost pay-as-you-go modules – when you can simply increase your conversion rate instead?
People will be less inclined to buy, if you’re not a household name (or at least… not a household name in the internet marketing microcosm!) To change this and heighten your conversion rate, revisit your sales letter and any associated squeeze pages for your list sign-up, and ask yourself this question as you re-read each one: “Have I removed the risk, and provided social proof?”
4 Ways To Provide Vital “Social Proof”?
This question cuts to the chase because it shifts you sideways, straight to the best path towards removing any “risk” in buying from an Unknown. By providing social proof, you’re validating yourself, which removes a major buying objection, in your potential customer’s eyes.
Some ways to do this involve:
· Including strong testimonials (check the FTC’s new guidelines on this!)
· Making sure you have a web presence on Social Media such as Facebook and Twitter
· Participate in mastermind group or forum audio seminars – it’s amazing what talking to you in “real time” will do, to enhance your value in your potential market’s eyes!
· Make your guarantee rock solid. Instead of the standard, legal 30-days, offer them 90. If you dare to take the risk, offer them a full year! This shows your reader that you really believe in your product – and also “cues” him to spend time working with it at committed length (the subliminal message being “this is a packed info product that’s really going to become one of your long-term, valued tools”).
· Provide “proof” in your sales letter. This is difficult to do, if you’re “nobody” – so put other experts and reliable sources to work for you. Quote facts, figures and stats. You can get them from government agencies, research companies and experts you might know. (And if all else fails – ask your local librarian! You’ll most likely find she’s a great source in helping you find the facts you need.)
When you’re sure you’ve applied all these powerful actions, and your conversion rate has started to rise – then it’s time to maximize your info product by creating extra videos or DVDs as upsells, or adding fresh bonuses and cross-sell affiliate offers.
After all, why make 3 sales on your new side-offers – when you can boost each 3 to an automatic 33?