Information Marketing Secrets

Information marketing is simple and easy.  Even then, only a few people who set out to become an infopreneur end up being successful.  There are many reasons for this outcome.  Some of them are obvious.  They give up too early.  They are not willing to work hard.  They focus on shortcuts instead of learning the correct approach.

Even if you put your head down to focus on achieving success as an infopreneur, you may not succeed without some advanced information marketing secrets.  In this report you’ll learn four of the most profitable secrets that hundreds of information marketers have applied to create a great impact.  Use them wisely and well to achieve information marketing success.

1. Focus on lifetime value

This may not seem like a very advanced secret, but it is incredibly powerful.  Your information marketing can scale unimagined heights if you correctly implement this simple concept in your business.

Lifetime value is a measure of the overall value of your customers over the duration of their association with your business.  This means that if a customer buys a $20 book three times in a year, and continues to do this for 5 years, that customer’s lifetime value is $300.

There is an interesting dimension to lifetime value that is created by the bond of loyalty.  A happy customer often comes back to buy more from a business.  Think about how often you return to your favorite restaurant or bookstore or gas station.  If you sell a $19 ebook to people, and 10% of your buyers become repeat customers, then you are tapping into this powerful profit boosting phenomenon.

While it costs the same to attract a new buyer to your information business, the 10% of loyal repeat customers will generate much more profit for your business over the lifetime of their association with you.  A happy buyer may sign up for a coaching program which charges $150 every month.  If they stay in the program for a year, the lifetime value of this customer shoots up from $300 to $1,800 from that single additional purchase.

Lifetime value matters because you can make other decisions about marketing budgets and advertising efforts based on it.  It is easy to invest $50 into acquiring new customers if you know that each one will be worth $100 or more to your business over time.  This knowledge gives you leverage in marketing your information business more aggressively without taking any additional risk.

Information Marketing Secrets

2. Remember back-end profit

Another advanced information marketing secret is understanding that the real profits from selling information products come from follow up selling.  These are popularly called ‘back-end sales’ because they happen on the back of the initial purchase.

The first time a new buyer purchases an item from you, the profits are small.  This is because you must invest some money into advertising or marketing to attract these buyers to your business.  Once they are in a buying relationship with your business, you are able to offer them additional products and services for sale without spending much.

If your $19 ebook is what introduces a new customer to your business, your profit from that sale may range between $5 and $10.  With a back-end sale of your $150 per month coaching program, you boost the profitability of that customer massively.  Convincing a happy buyer to spend more money with your business is easier than getting a stranger to take a chance with you.  That is why every smart information marketer has a range of products and services to offer their new customers.

3. Know your cost of customer acquisition

Do you know how much it costs your business to attract a new buyer?  You must calculate this figure because it has a significant impact on your marketing strategy.  Taken along with lifetime value, this number can transform your information marketing success.

If you know how much a new customer will be worth over the duration of your association, then you can set yourself a generous limit to invest into acquiring a new buyer.  Let’s assume that your average customer lifetime value is $50.  You can then safely invest $25 into gaining a new buyer, secure in the knowledge that you will not lose money.

This also means that you do not have to set a marketing budget.  When every dollar that you invest into gaining customers earns you two dollars in return, you have an unlimited marketing budget.  Can you imagine how this can transform your competitiveness?  No other business will be able to out-spend you.

4. Create a real business

This should be obvious, but is often overlooked by information marketers.  Many infopreneurs build a money-maker instead of a business.  They create a single ebook and spend time and money selling it.  Their profits are smaller, and there can be no break in their marketing efforts.  If they stop advertising, sales dry up and profits plummet.

Sustainable businesses are structured differently.  You build them on a series of processes that integrate into a system.  You will have processes that attract new buyers, others that fulfill their purchase, and a further set of processes that handle customer care after the sale.  Each of these is managed, modified and improved over time.

With a portfolio of related information products, a follow-up selling process ensures that each buyer is offered other relevant items.  This boosts profits through back-end sales.  Everything runs smoothly and can be automated using technology.  This frees up business owners from tedious tasks, and allows them to relax and enjoy their success.

If you implement these four advanced information marketing secrets in your business, you can enjoy greater profitability with less effort and stress.

How To Be An Infopreneur – The Rare Art of Effective Online Marketing

Who is an infopreneur?  The new term evolved to describe a person who combines the role of an entrepreneur with that of an information creator.  An infopreneur creates (or commissions) valuable information that informs, educates or inspires its audience.  The infopreneur then turns these precious information assets into income streams in various ways.How To Be An Infopreneur - The Rare Art of Effective Online Marketingbook of success business

It’s easier to explain the concept with a concrete example.  Imagine an author who writes a book, or a professor delivering a lecture, or a craftsman recording a short movie to show off his skill.  They are all infopreneurs who can leverage the content they are creating into a source of ongoing income.  With the incredible global reach that the Internet offers today, it is possible for each of them to tap a worldwide market at affordable cost.

If you’re wondering if it might be too difficult to get started as an infopreneur, then the rest of this report will show you how easy it really can be.  Every beginner was once in the same position once, and had to learn everything about becoming an information marketer.  All it takes is to follow a sequence, one step after the other.

Dig into your reserves of knowledge and experience.  Think about what you already know well, and may even reasonably be considered an expert at.  What are the things you are good enough at to teach or explain to someone who is just starting out?  It could be a job, a hobby, a skill, or an art form.

Then consider your potential audience.  Are there people who would be interested in learning what you can teach them?  It can be a costly marketing mistake for infopreneurs to set out being obsessed about whatever they know, and disregarding what their market wants.  As an infopreneur, you will quickly learn that your target market is king or queen.  Your role is to serve them what they desire.

When you’ve hit upon the ideal information to share with your eager audience, decide the format in which you will make it available.  You can be an infopreneur who writes, or one who speaks, draws, records or meets your students in person.  The format you choose depends on your personal preferences, skills and strengths.

Chalk up your action plan next.  Your success as an infopreneur will not be automatic or instant.  You must first come up with a plan of action, backed by a powerful strategy.  Just as you wouldn’t set out on a trip without a plan and a destination, your infopreneur journey must also follow a carefully drawn up business plan.

Finally, prepare to take massive action.  Remember that infopreneurs are entrepreneurs.  They are action-oriented, purposeful and motivated people.  They think big, and believe in their dreams.  You should cultivate the same attitude and behavior. Your conviction in the quality and value of your information and the value you will add to your audience should drive you beyond any hurdles and obstacles towards success.

Along the way, be prepared to keep learning.  Information marketing changes constantly, especially when you are using a rapidly evolving technology like the Internet.  There will be many interesting twists and turns.  Staying on the cutting edge takes constant education and practice.  If this is something you’ll enjoy, there is nothing that will hold you back from massive success as an infopreneur.

The journey towards becoming an infopreneur is fun.  It may not always be an easy path to treat.  In essence, it is simple and logical.  Once you learn the rules and develop a system to get your information in front of the ideal prospects, you will find it almost effortless to keep the momentum going.  Eventually, being an infopreneur can be fulfilling and profitable.  You may not get rich in the first week or two.  But sooner or later, as the value you share becomes obvious to the people who need it, they will gather around you and happily pay to receive the value you offer.