There’s a misconception out there that these two business models – physical products and information (info) products – should be run separately. Well, let me tell you now – that’s absolutely NOT TRUE! You can take the best of both worlds and run them simultaneously.
And actually, adding some info products to a physical products business can be a fast and easy way to increase your sales and profit. In this blog post I’ll show you exactly how to do this.
If we abstract ourselves from the myths surrounding info products, we can come up with 3 business models that involve incorporating both physical products and information products:
1) Mixed – you sell both physical and info products and they generate equal profit in your business. A classic example of this would be a shop selling beauty or craft items but also offering classes/courses or selling home-study materials on the topic.
2) Info product led – you sell mostly information products with some occasional physical products. For example Beachbody.com, their primary income comes from selling various fitness info products (DVDs etc.) but they also sell fitness equipment and supplements.
3) Physical product led – you sell mostly physical products and use info products as a lead generation tool or even sell an eBook, service or how to guide along with your physical products. An example of such a business model would be Amazon! The majority of their income comes from physical products but they also sell digital products such as music, eBooks and videos.
The last model will apply to most eCommerce Shop owners and is by far the easiest to integrate! You already have a shop (or plan to build one), physical products to sell and all you need to do to increase your profit is add some sort of highly valued information product you can make massive profit on.
I’m talking about strategies like: [Read more…]