Launching an information product can be profitable. While you’ll probably see a good number of sales in the first few days, those numbers will begin to drop lower and lower as time goes on. That means to get another big influx of cash into your information products business, you have to start the whole product creation and launch process all over again.
However, there’s another alternative to coasting from launch to launch. What if you turned your information product into recurring income? You’d have a steady, predictable stream of income that you could count on every month.
It’s not hard to build in recurring income for a digital info product. Just try one of these ideas…
Add a Group Coaching Option
If you’re teaching your customers how to do something complex like build a website or launch a podcast, then it’s a smart idea to offer a group coaching option. This gives your buyers to soak up more of your wisdom and network with other customers.
You don’t have to use fancy software for this. Just create a closed Facebook group and tell your buyers to request to join. All you’ll have to do is verify that the customer purchased your product and approve their request.
Offer Continuing Education
Sometimes, the best way to earn recurring income is to continue teaching your buyers. When you provide continuing education, your customers can go deep into a topic. For example, maybe you have an information product that teaches users graphic design. Create mini lessons that share additional tips and insights.
The good news is that this is also easy to set up. All you have to do is create your extra lessons and add them to your autoresponder. Then the lessons will all be delivered for you seamlessly.
Give Them Templates or Resource
Another option is to provide your audience with monthly templates. For example, if your info product was about graphic design, then you could give your customers a new batch of templates each month. One month, you could provide them with 5 book cover templates. The next month, give them Facebook banner templates.
Of course, you’re not just limited to templates. You could also offer a monthly font subscription service. Each month, your buyers get access to a bundle of fresh fonts that you—or someone you outsource to—have created.
Provide Software as a Service
Sometimes, it can be smart to provide software as a service. In other words, customers pay you monthly to access some type of software. This software can depend on your niche. For example, if you’re in the health and fitness niche, then the software might be a digital meal planner or exercise app.
Don’t worry; you don’t have to create the software yourself. You can buy software that’s already been created and add your own branding to it. You can find these software options by searching online for “brandable software” or “plr software.” Then all you have to do is charge for access.
Before you launch your next product, spend time thinking about how you could turn that one sale into recurring income for your information products business. Not only is it fun and easy to do this but it can also boost your profits.