Knowledge is power and a valuable product. This is evidenced by the strong market for informational products – whether they be online courses, coaching, or training videos. The upside for the owner/seller of these knowledge-based products is that in most cases, once the seller invests the upfront cost and time it takes to produce the videos or sessions, this content continues to earn money long after even the memory of the initial work is gone. This is yet another type of passive income, and with the instability of the job market, many Americans are looking to supplement or generate new revenue streams that require little or no day-to-day management.
If you are an expert on a topic, business, or craft and you think there’s a market for people who may want to learn your skill set, creating an online course can be a lucrative passive business. For me, my expertise is in the area of e-commerce. In my training videos, I teach others how to earn a living by starting their own e-commerce stores. In fact, I earned approximately $30K in just one month of selling my Information Product. So how do you create your own information product? Here are my top tips.
KLT Factor: Establish an Online Presence. KLT stands for know, like, trust; and for people to want to learn from you, they must feel like they know you, trust you, and most importantly, like you. You need to be seen as an expert in your industry. So whatever you’re an expert in… gather proof of that expertise, whether it be through your credentials, video footage or photos of past work, or even screenshots of your own personal sales. First and foremost, you need to do the work to establish a great track record and have impressive results to show. How can someone learn from you if you haven’t done the work, been in the trenches and know the ins and outs of the business?
What are other people doing? Watch YouTube videos from people offering the same or similar services. You’ll know what they are doing right… and what they are doing wrong. If they’re boring and lack charisma, think of ways that you can bring some personality to your videos to make them stand out and also establish that all-important likability factor.
How do you come across as likeable? It’s quite simple. Be nice – don’t badmouth anyone (like your competitors) or be overly critical of how others are “doing it.” If a competitor is doing something wrong, you can point it out, but do so with diplomacy. Further, although you may know more than your audience, never talk down to them. Additionally, be helpful, responsive, and generous with your time and your attention. Finally, be real and authentic. If you trip over your words in a video or make a mistake, own it. Don’t take yourself too seriously. People love it when they can relate!
Keep your word. Don’t disappoint your audience. If you say you’ll post every day, or that an exciting update is coming on Friday, stay true to what you say and follow through. Broken promises will sink your trust factor and credibility.
Give away your first video or piece of content. Entice your audience by giving away one of your secrets/advice for free. Make sure what you give away is of your best quality and make them want to pay for more. A lot of people start YouTube channels to provide free value and then later funnel or convert viewers into paying customers.
Build relationships with key influencers. Who you know is almost as important as what you know. Use social networking and in the blog post commenting section to attract the attention of influencers in your topic.
Get PR! If you’re falling flat on getting noticed and have some money to invest, reaching out and getting PR can help raise awareness & gain credibility, etc.
Consistency is key. Gaining trust through social media or your online platform is key (post on your story or feed every day to become well known in your niche). Then you can advertise your coaching/course/info product.
Establish a price point that makes sense. The price point for info products can range from as little as $5 to $5000 and maybe even more. Information product price points are differentiated by a number of factors but chief among them is whether the creator/influencer who created the training/coaching is very well-known. Is the topic you’re talking about trending or growing in popularity? Don’t overprice yourself. It’s tempting to look at competitors who charge a higher price and price yours similarly. But make sure you know why their price points are higher. Do they have a larger following? Do they have more credibility? Before you price your service, make sure you’ve done all the necessary homework.
Incorporate testimonials. Got happy clients? That’s great. Make sure future clients know about them. Be sure to post them in a place where they are seen like on your website or where a lead would be when they’re making a decision as to whether or not to use your services. It’s a great way to demonstrate how you deliver positive results.
Where Do I Sell My Knowledge?
There are online platforms where you can host your content. I hosted my content on Teachable – you can get a 14-day free Teachable trial here. You can also create your own channel where you can sell your content on your own website/platform. However, getting traffic to your own platform may take time.
Here are my websites:
- Blessed to Sell is my Amazon training platform where I teach beginner and intermediate sellers. You can use this as a sales page reference. Note that I tell a story, provide background and highlight what you can expect to find in the course. I also back up any claims with testimonials and student results from over the years in text and video format.
- Elite Automation is where my team and I actually set up and manage e-commerce stores as a bundled, all-in-one management service for my clients.
