If you’re new to information product creation and marketing, you are likely to encounter one of the most common causes of procrastination in newbie information marketers – not being sure that the value of your item meets and exceeds customer expectations.Conventional thinking assumes that products have fixed values and these values are then reflected in the prices of the items. The ugly truth is that the value (or “perceived value”) of information products in particular is quite dynamic. It changes based on the situation, based on the market and based on such ephemeral qualities as exclusivity, timing, etc.Value, in short, is a moving target that takes experience to master; experience that new information publishers and entrepreneurs may not have. Here are 4 ways to quickly increase the value of your information product should you find your products on the wrong end of customer value perception.1. Bundle Additional ItemA quick way to increase the value (and perceived value) of an information product is to add a bonus item. This has to be done carefully and in a way that assigns worth to the bonus item. Having a “branded packaging” (such as a product name) for your simple 20 item checklist for instance, adds to the perceived value of your offering.
2. Change The NameTake a cue from the book publishing industry. Hundreds of bestsellers have been created by simply taking a book and changing the name to something people would want to read. Naming your information product is a big part of packaging of your product, and packaging has been proven to increase the value of a product to its buyers.This principle is particularly important in information publishing and information marketing because these types of products are intangible and you need every edge you can get to convey value to the consumers before they elect to part with their money and consume your product.3. Repackage into Tighter Niche FocusAnother favorite technique of experienced information marketing practitioners is to increase the value almost by subtraction. Here you subtract many of the market segments originally targeted by the product and zoom in on a target segment. This increased layer of specificity is interpreted by members of that market segment as being much more customized for their needs and therefore more valuable.Think about the popular maxim, “Time is Money”. By cutting out areas not specifically relevant to your target segment, you give them an increased ability to get through your information product and implement what they learn. This is the highest value you can produce through an information product and your customers know it. That’s why this technique works so well.4. Change Media FormatPeople differ in their learning and information retention styles. Some people are better at retaining visual information, others are better at retaining information received audibly, and still others retain information when they have some activity associated with the learning.
There are many tools, websites and companies available today to help you quickly and easily account for these differences. Superior information product creation method demands that you incorporate these learning differences in the design of your info-products or in the bundling of your offerings.Simply by converting an e-book to a downloadable mp3 or an Audio CD, you can double the value of what you were previously offering.ConclusionThese are just a few of the ways you can quickly (and fairly easily) add value for the consumers of your intellectual capital. One thing to remember in taking my advice here is to go from simplest to most complex. The simplest and easiest way to accomplish your value-add is what you want to do first. Stick to this principle and you will execute better and faster.