Info products are great to create passive income. Also, focus on creating many passive income streams from them. Many things factor into your sales funnel of your 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.
There are several methods to make more passive income info products out of existing ones. But, I’m a firm believer in always looking for the “lone wolf” idea.
My first suggestion: Kill the fear! (That wasn’t what you expected me to say, at all…)
Exactly what do I mean by that?
When people consider investing in your product you want to cut the hesitancy factor. You don’t need to create a video version of your eBook, or splitting it into pay-as-you-go modules. You can increase your conversion rate instead.
People will be less inclined to buy if you’re not a household name. Change this and heighten your conversion rate. Revisit your sales letter and any associated squeeze pages for your list sign-up. 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” for Your Passive Income streams?
This question goes straight to the best path towards removing any “risk” in buying from an Unknown. By providing social proof, you certify yourself. You also remove buying objection from your potential customer.
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
- Take part in a mastermind group – it’s amazing what talking in “real-time” will do to enhance your value in your market
- 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! Show your reader that you believe in your product. This leads him to spend time working with it at a committed length of time. Giving the message that this is a packed info product that’s 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 from government agencies, research companies, and experts.
Once you’ve applied all these powerful actions, your conversion rate for your passive income will start to rise. Then it’s time to widen your info product by creating upsells, such as videos and DVDs. 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?
If you would like a guide on creating a passive income, you can download it here.