How to Develop Books, eBooks and Information Products with Maximum Market Appeal
When it comes to creating information products - whether a free report that you give
away for new subscribers to your mailing list or a revenue-generating product such as an
ebook, special report or audio recording - you will increase your chances of success by
doing a bit of research and planning prior to product development. Following are the steps
you can take.
1. Generate Product Ideas
Start by listing the questions you are asked most often. If you find yourself answering the
same questions repeatedly, consider that insight into potential product development opportunities.
2. Get Input from Your Target Audience
Survey your target audience - not your friends or your family, but the people you most
want to reach. Find out what needs they have that you can fill with the right product. You
can use a tool such as http:⁄⁄SurveyMonkey.com to gather data.
3. Evaluate Internet Search Demand
Google's free keyword tool allows you to type in a key phrase and see the number of
monthly searches conducted locally and globally. The tool also generates a list of related
keywords, which can be a great way to inspire product ideas while determining demand for
the products you create.
4. Find a Market Need
The best information products fill a need for your buyer, which means your product
should solve a problem, provide how-to advice or reveal hard-to-find industry information.
Also, a product that is too broad may have a harder time finding an audience versus one
that is designed for a niche market. For example, if you're an authority on travel,
instead of creating a report with general travel packing tips, you could create a series
of reports with packing tips for specific destinations, increasing appeal with travelers
headed for those locations.
5. Choose Your Format
Information products come in many shapes and sizes. Here are some options to consider:
Book - A physical book typically doesn't have a large profit margin (unless you have a
specialty topic that can command a higher price), though it does bring additional business
benefits. For example, you can leverage your author status to get access to media
interviews, paid speaking engagements, consulting contracts and more.
Ebook - Thanks to the influx of digital readers, ebooks are hotter than ever. You can
make an ebook available through your website as a simple PDF document, or you can take
extra steps to have it formatted for Kindle, Nook, iPad, etc. Consider using
http:⁄⁄Smashwords.com for a cost-effective way to convert and distribute your ebook.
Special Report - Shorter than an ebook, a report is typically two or more pages on a
specific topic, delivered in PDF format.
Audio Recording - The industry standard is to deliver audio recordings in MP3 format,
using software on your computer or a service such as AudioAcrobat.com.
Video Recording - Due to bandwidth and space requirements, videos delivered digitally
should be shorter in length or hosted on another server (either a private server or a site
like YouTube.com) for easier viewing.
Everything Else - An information product is basically any way that you can package and
deliver information. You could develop white papers, transcripts of recordings, workbooks,
booklets, databases, formatted spreadsheets, worksheets, templates or training programs
that combine multiple formats.
6. Establish the Right Price
Every market is different and your price will depend on many factors: how much your
audience can afford to pay, how much they want or need your information, scarcity of
competition, your authority and reputation in your field, and perceived benefits of your
offer. Also consider the perceived value of your product. A price that is too low may send
the message that it won't be worthwhile, while a price that is too high may limit the
number of purchases and raise expectations with those who do buy. For best results, test
different pricing options to find which will work best.