Dr. Mani, what’s the best way to generate income from a typical niche? E-books, subscription website, reports?
Information marketing provides an array of income opportunities in any niche. And while many (or all) might be suitable for a few niches, there are usually some preferred channels of monetization that will vary depending upon whether you are in the “health promotion” niche, “make money” niche, “self improvement” niche or some other niche.
In very general terms, all online income streams can be categorized under 3 heads:
* content publishing
* direct selling
* lead generation
The content publishing model of information marketing depends upon providing valuable information about various topics of interest to your audience – and then turning that attention into profit.
One way to do this is by displaying ads that are ‘context relevant’ alongside your content. Another is to get paid once or on a subscription basis whenever customers access your content.
The direct selling model is one where your income comes from offering various products and services to your audience. Creating and selling info products like e-books, audio courses, video tutorials and membership sites are all ways infopreneurs can tap into this model.
The lead generation model is where you attract and gather an audience based on interest or genre, through your information marketing efforts, and then get paid by others who want access to your prospects. This can be a very lucrative approach to information marketing in some niches where leads are valuable and the bounty you will be paid is sizable.
Within each of these categories there are various methods to generate income. For instance, there are 50+ different kinds (or “forms”) of information products, all of which can be based on essentially the same (or similar) kind of content, but packaging and presentation differs.
What’s more, some forms of packaging are seen as valuable enough to command a price that’s a multiple of other formats, even if the information shared inside them is more or less the same. For example, physical delivery of a book, CD or DVD usually commands a higher price than online delivery of the same content. In the case of Amazon, for example, Kindle books are usually less expensive than their physical equivalent.
Your challenge, as an information marketer, is to identify what kind of niche yours is, and determine what info product types are popular among prospects in your niche. Look at what your competition is doing, and then see if there’s a way to do it better. Or you may even take a risk and try and create a completely unique presentation that can set you apart from competitors – and even increase your profit potential.
The key is to be aware of what’s possible in your marketplace, and staying informed about the various options available. By the way, in my book Think, Write & RETIRE
, I teach many different approaches to develop income streams as an information marketer that will open your doors to the exciting potential that lies untapped in literally any niche out there.
Dr. Mani is a well-known mentor of internet marketers. You can learn more about his work at http://internetinfopreneur.com/
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