Can You Productize Your Knowledge?

You have knowledge. Years and years of expertise hard won from numerous customers, infinite numbers of dilemmas and too many customer issues to count.

So why not package what you know?

There are a few ways to approach the development of an information prouduct. You can create a physical product or a digial product. Or both.

You want to offer a physical and digital version of your product for several reasons:

  • Sell it as a bundle. While the customer is waiting for their physical product to be mailed, they can at least start enjoying their new found information in its digital format.
  • Use the physical version as an upsell. Some people might prefer to have a product in hand, so you can charge them a bit more to mail it. (Think the product price plus shipping and handling.)
  • Use the digital version as a downsell. For your more cost conscious customers, you may want to offer the separate versionsof the product, with the digital version as a more cost effective option.

Types of Products

Mp3 Recordings – used for audio products, these are most often downloadable files. It’s pretty easy to create such recordings for these information products. With a simple microphone, you can directly record to your computer. Or you can record phone interviews.

Physical Version: hire a transcripionist through fiverr.com. For $5/20 min you can have a transcript of your interview or audio recording, which can then be used as fodder for a blog post, for a report, or as a bonus for the audio sale.

 Membership Website There are a number of ways to create membership sites – some of which cost more than others. But one way that is incredibly affordable is to create an email series of content that is distributed to your subscribers on an ongoing basis. Then set up a closed user group for your subscribers on Facebook.  In either format of membership sites, the recurring payment is a great revenue stream fr your business.

Subscription Newsletter  A lot of people use newsletters as a free promotional item, but they can also be upgraded to a premium paid version.  You can provide more in-depth information, downloadable tools and insider tricks and so forth. You can easily manage your subscribers using one of the membership website tools or a autoresponder mailing list.

A Book. If you’ve been blogging for a while, have a variety of sources of content or have been in business and have a ton of information off the top of your head, then maybe a book is the right option for you. There’s never been an easier time to publish your own book. Ebooks on Kindle can be up in as little as a few hours once you’ve written the document. If you would rather have a physical book, (or have it as another option) you can publish your book through Amazon’s Create Space for a very minimal ($100-200) investment.  Don’t foget to include links to your website, to downloadable files, or Youtube videos to help your reader engage.

Multiple Offers Always have more than one thing a customer can purchase. Consider an “ideal” offer; a premium offer (something more robust for a higher price) and a bargain price (for customers who are more price sensitive.)  Another way to look at it is to create complementary products: a book, an audio book, and a workbook for example.

It’s never been easier to share what you know with the world!

Category: Products, Writing

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