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Creating your own information product means being an entrepreneur. But the task of an entrepreneur does not stop only at content creation. In order to sell the products successfully, the person has to take up a number of other responsibilities too like marketing and promotion. Hence, it often becomes difficult for the entrepreneur to focus on the product creation, thereby leading to the decision of outsourcing it. Whether you should outsource your product creation or not depends on a number of factors. You have to choose an arrangement most conducive to your needs. Given below is a comparison of the benefits of each method.
The benefits of creating the product yourself
The best information products show people your own personal knowledge. When you create the product yourself, that unique viewpoint of yours will shine through, making the product a good one. If you outsource it, you may end up getting a generic product, as an outsider will follow a formula and create a product. The lack of your unique perspective will fail to make the product stand apart. This is why it is recommended that when it comes to information product, the entrepreneur is often better off creating it himself, as he is the best person to know about his product. This also leaves a bigger profit margin for him, as he will not have to pay for outsourcing.
Outsourcing your product creation does have its fair share of benefits too. First of all, it takes the pressure of creating the product off. Since the information product itself is one of the most important factors for your success, it is good to hire an expert for a limited time frame to create the product for you.
Outsourcing the task of product creation also leaves you with enough free time. This means you can start focussing on other aspects of your internet business. Outsourcing also helps you get in touch with industry experts and you get a number of unique ideas, which you may not have managed to get on your own.
Why you should consider working with a partner on an information product
The process of creating and selling an information products may sound easy on paper, but it does take its fair share of hard work. Some people do have the expertise and persistence and can go through the work of creating their information product on their own. But, there are many who are not that great at alone work, and would benefit better with shared responsibilities. In circumstances like this, having a business partner on producing an information product could prove to be extremely helpful. This is not even an uncommon occurrence. There are numerous such internet businesses where the information products are created and marketed by business partners, rather than just on individual.
Knowledge and skills double
When two brains are at work, in place of one, the result is sure to be better. With a business partner, you get to brainstorm more on possible information products. If you are on your own, you hardly get much scope of checking your ideas with someone else. But with a business partner, there are better chances of checking and bettering your ideas with someone else. When there is another person involved, you also get a different viewpoint, which in turn helps in making the product unique.
Working with a business partner on an information product means that you can create a more dynamic and diverse product. With the present information product market being so crowded, it helps to have such a dynamic product. The product stands out and hence sells well. Two minds at work is definitely a good option.
Responsibilities are better taken care of
When it comes to information products, the work does not end with just creating the product. Creating the product is without doubt the first step. But in order to earn the money, one also has to market the product enough to grab attention and increase its sales. Such promotional work may often become difficult if you are the sole person responsible for the information product. On the other hand, when you have a business partner, you can easily divide responsibilities on the marketing and promotion front. You can hatch better marketing ideas together and can divide the work.
This will help to ensure successful marketing efforts and also a wider area of influence.
How can I add value to my information products?
So you have managed to zero in on a hot topic. You have created a very good information product and cannot wait to watch it fly off the rack. But somehow, that does not seem to happen. What went wrong?
The key lies in the eyes of the consumer. Your information product may be the best thing out there. But, if your consumer does not perceive it to be the best, then it just will not sell. Hence, you can see that the task here is not only to create the product, but also to add real as well as perceived values to the product, which would make it tempting enough for the consumer. Given below are ways in which you can add such value to your information product and make it a hit.
Adding real and perceived value to your information product
Adding perceived value means doing something that would make your consumer think highly of your product and ultimately buy it. Increasing the perceived value is important as for consumers everything is about their perception of a product. The market place is filled with numerous similar looking products, many of which overpromise and under-deliver. Such experiences leave the consumers sceptical. So, what you need to do is make them believe that your product will be a value for money deal (which of course it will be.)
The good news is that it's easy to increase real and perceived value without it involving tons of additional work...
Let's say you've created a 10 part video course. An easy way to add value to it would be to have these videos transcribed into text (this can be very cheaply outsourced) and then you could include the written version together with the videos. This adds massive value because often people will watch the videos and then wish that they had a written version to refer back to later on without having to keep re-watching the videos.