If you are looking for a home business or side hustle during this period, this is the most important thread you will read on twitter. My advice to you is create and sell information products online. How will you create it? How will you sell it? Let's go.
Firstly, what is an information product? In layman's terms, an information product is anything that teaches you how to do something. It could be an ebook on email marketing, a screenshot tutorial on web development, a video demonstration on cooking ogbono soup...
a seminar on video editing, a book on direct marketing etc. Different formats. It could be physical or digital/downloadable but for the purpose of this article and if you consider the effects of the corona virus, we will be concentrating on the digital/downloadable aspects.
Do people buy information products? Yes. I have been selling it since 2003 and I will sell it forever. It is the lazy man's way to making money. You can surely make millions monthly doing it. Let me take you step by step on how you can do it. I'm the best when it comes to this.
Step 1: Decide on what your product should be about: It should be a topic people WANT. Something that won't be too hard to convince people to buy. You don't have to necessarily sell what you feel they NEED. WANTS sell faster than NEED. When people want something, forget logic.
For example, an info product on finding out what your lover is doing behind your back will sell better than a product that teaches you how to avoid contributing to global warming. If you are not an expert on the topic you believe people want, you can interview an expert.
During this stay at home period, I feel there are certain products that can sell well. Food tutorials and recipes should sell. Home business opportunities should sell. Products on spicing up sex life should sell. Generally, products on things you can do at home.
Step 2: Decide on the format: Would you prefer an online class, audio interview, video demonstration etc? It's your choice. Select the one you feel you will flow better with. You know you have to wow those that will buy from you. You will need them to buy from you in future.
Step 3: Write a mad sales pitch/letter: When you are selling what people cannot see, you need to do a lot of convincing. Read up about writing sales letter. Have a compelling headline, establish credibility, list the benefits they will enjoy. Benefits, not features. For example..
Do not say "page 3" took me 3 days to write". No one cares. Say, "on page 3, you will discover the secrets of determining if she is faking orgasm". Or something like "discover the food recipe my grandma from Benin used that kept my grandpa from cheating for 56 years.
Step 4: Get traffic: You need people to see your offer. You have a great product and a mad sales letter. If no one sees it, what's the point? You need to get people to the page where you have the sales letter. You can use Facebook ads. That for me is the fastest way.
Step 5: Get your pricing and calculations right: This is super important, so listen up. You have to calculate the percentage of people visiting your page vs how many are buying. Let's say you buy traffic for 10 cents per click. 100 clicks will cost you $10 (N3,700.00).
If one person out of 100 buys (and your product is priced at N2,500), then you would have lost money. Your options are, cheaper adverts or get your sales letter better to convert better than 1% or increase your price. You can try all the options but let's pick increasing price.
Let's assume you increase your price to N10,000.00 and the conversion remains the same, then your profit here will be N6,300.00. The next thing you should is to repeat the ad and increase your budget. $1,000 ads will give you 10,000 clicks. That is 100 sales. Got the maths?
Multiply that by N10,000.00 and you have one million naira. Neat profit. Just rinse and repeat. Once you find one working formula, Milk it dry. I know there are other factors to consider. Some fees here and there for tools to make it easier for you but I kept it simple.
What I want to do is create a paid whatsapp group that will last for 3 months for those that want to learn more. I will drop a daily guide and also update you on what I am creating so you can adapt it. You can ask me as many questions as you want. I should create it soon. Cheers.
