Why You Are Wasting Time On Your Info Product

By , Text Only Admin

Solo-E Certified Solo Entrepreneur Expert

TextOnly'Admin - Text Only Admin

Multiple streams of income sound fabulous, doesn’t it?

Selling products while you sleep sounds, well, down right dreamy, right?

What about creating a $97 ebook that pays your mortgage every single month?

I have an information product, yes, and so you may be thinking “well, what is she saying since she already created one…isn’t she doing the opposite of what she’s teaching?”

And to answer your question, yes I do and yes I am.

Here’s why: I want your confidence to skyrocket as you see the results your clients achieve from working with you one-on-one.

I don’t want you to go back to a 9-5 job if it isn’t necessary. (If it is necessary, click here to see what it means when you have to get a J-O-B.)

I want you to make a lot of money in the shortest amount of time possible. (And, when you are starting out, focusing on info products is usually the most time intensive with the least payoff.)

Many of the big marketing gurus will tell you how to create an online course and they make it look like all you need to do is to run a few webinars and then, before you know what happened, you are a gazillionaire.

Can this happen? Well, yes it can.

Is it likely to happen? Unfortunately, no. If you are making less than $75k each year or don’t have a huge marketing list of highly engaged peeps, then it’s not very likely.

But that’s OK.

I created an online product and started marketing it and even started selling a good number each month.

I wasn’t happy with the end result, though.

Sales were (are) good, yes, but the biggest bang for your buck and the fastest path to cash is – without any doubt – working with clients one on one.

You can offer the biggest transformation and people are willing to pay for your support to help them achieve what they know, deep in their heart, is possible for them. That’s worth a lot. (A ton, actually.) You can help people to make major shifts in a relatively short period of time when you support them one-on-one.

Plus, as you do more one-on-one work, you’ll get more clear about what your clients really need and what they really want. You’ll know better what to include (if you choose to) in your info product.

The honest-to-goodness truth is, most people don’t have a big enough marketing list to have a solid revenue stream each month coming in from info products. It can be a lot of time, money, and effort that is invested with little pay off if done too soon.

Let’s crunch a few numbers here to see what I mean, OK?

On average, about 3% of the eyeballs that see your offer will purchase.

So, if you have a marketing list of 10,000 people and get an average open rate of 20%, you will have 2,000 people possibly read your email.

Then, let’s assume a high click through rate of 10%. Now we are down to 200 people who actually click on the link to see your sales page.
If 3% of those people actually purchase from you, you’ve sold a whopping 6 copies.

If your product sells for $497, you’ll walk away with about $3,000.

Then, look at the number of hours you spent marketing your webinars and your info product. How much did you spend on FB ads? What about for your sales page? How much did it cost to actually create the website to house your information?

I’m not saying this to discourage you but instead to inspire you.

I want you to see what’s possible for you if you focus the majority of your time and efforts at first on attracting ideal, high paying, one-on-one clients.

You see, even when I was selling a good amount info products each month, the income that resulted from it wasn’t even close to the income from working with ONE new client that month.

And, I get to make a bigger impact and actually do the work that I love when I work with clients one-on-one.

So, what am I recommending that you do at this point? What if you’ve already invested time and money on your info product?

You can’t change where you’ve invested time or money in the past. You just can’t. In fact, that was one of my favorite Economics lessons: it’s called a sunk cost.

The really great news? You CAN impact how you invest your time and money from this point forward. That’s where I want you to focus.

Look at these things:

How many products do you need to sell each month to meet your monthly income goal?

How many new one on one coaching clients do you need to attract each month to meet your monthly income goal?

Looking at these numbers, which one looks easiest?

Now, my friend, you have a clear idea of where to spend your time so that you can ultimately work less and earn more in your business. Pretty cool, right? Now THAT is what I can dreamy.

Do you get the most enjoyment from serving clients one-on-one or creating products? Where do you get the best bump in your bank account?

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