Creating an online company. Infobusiness as a source of income

Selling information online is considered one of the most promising and profitable types of entrepreneurship. In 2020, during the quarantine, the demand for consuming information online increased like never before. In this article, we will explore what infobusiness is and how to monetize your knowledge.

What is Infobusiness

Infobusiness (short for information business) is an activity based on buying and selling information that is relevant to a specific audience.

In simpler terms, information business involves the realization of some information packaged in audio/video/text format. It can be a webinar or educational course, training or series of video lessons, coaching session, consultation, book, etc. In any case, information is a commodity.

People pay for someone to have previously analyzed the entire array of thematic information, sorted it out, filtered out unnecessary information, and more or less coherently explained it. The cost of online education is not so high, and the quality of knowledge is higher due to the involvement of experts and practicing specialists in the chosen field.

Features of the information business

In practice, the information business significantly differs from other areas of entrepreneurial activity. The main advantages of infobusiness:

- unlimited replication. The product can be sold an infinite number of times. The information will generate income until it completely loses its relevance and value;

- budgeting implementation. Creating the info product and resource for presentation requires a one-time capital investment. The list of ongoing project costs will include domain payment, hosting rental, and promotion (e.g., advertising).

- no need to rent an office. Almost 100% of infobusiness is conducted online. It is entirely possible to control all processes from anywhere in the world by providing access to information via a link.

How to Become an Infopreneur

Recently, almost all companies are massively moving their processes online. In 2020, the internet became an obvious loophole for survival during the crisis.

In the case of infobusiness, developing a project and selling an information product online is relatively easier. In addition, people have already realized all the benefits of distance learning.

Stages of creating your own information project:

1. Define your niche

First of all, focus on personal experience, skills, and knowledge in a particular field. Think about in which niche you could act as an expert, generate valuable and interesting content.

If you work in network marketing and have developed a multi-thousand partner structure, present your experience in a full-fledged educational course. Using the Recruit system (recruting.biz), you can upload the created material and earn from its sales.

2. Study Your Direct Competitors

Once you have determined your direction, study the positions of potential competitors and the demand for their informational material. In the future, you will be able to take into account their mistakes in promoting the company and writing the informational product itself.

It is important to gather valuable and relatively unique information. By delving into the informational material of other niche players, you will understand which nuances' disclosure can become your highlight and competitive advantage.

3. Create an Information Product

To start in the field, it is enough to create one high-quality info product. No matter what area you are knowledgeable in, systematize your knowledge and skills in audio/video or text format and present it to the target audience. The main thing is to truly understand the chosen topic and gather valuable educational material.

For more information on defining and attracting a target audience, read the article Target Audience in MLM. Guide to Defining and Attracting

Considering individual practical skills and knowledge in a specific field, analyze theoretical data and summarize everything, gathering it into a comprehensive informational product.

Don't forget that creating quality audio/video content will require certain skills and investments in equipment. Provide adequate video and voiceover quality; learn to work with color correction and edit tutorials. It's easier with text - just use your phone or computer. With additional resources, hire a contractor (freelancer or agency) to edit and format your educational material.

Before the sales launch, try to attract potential buyers on social media and build communication with them. This way, you can learn about the problems and needs of the audience. When choosing a course or webinar later on, consumers will look for the alignment of the educational program with their expectations.

If you are not an expert in any niche, try implementing other people's knowledge. By entering into a partnership agreement, you can sell someone else's info product, receiving a commission for it (usually around 30% of the cost).

4. Create a Website Prototype

Now let's move on to the technical aspect. To convey your offer to potential buyers, you can create a simple one-page website and direct your target audience to it.

For information on how to create a good landing page and drive traffic to it, read the article MLM Website. Partner Attraction Guide in 2020

Start with implementing a test one-page website that describes your advantages and the educational process plan. You can create a test landing page based on the Recruiting system constructor (recruting.biz). It allows the development of up to 12 landing pages for different audiences or informational products.

By creating a prototype of your educational project, you will not only budgetarily bring your idea to life but also test the demand and earn the first capital for further transformation of the demo business into a large company. Also, you will receive initial feedback, possible recommendations for improving educational materials, and understand if you want to further develop in the infobusiness sphere.

5. Drive Traffic to Your Website

Years of observation and experiments by the FlawlessMLM team have proven the effectiveness of the following methods for driving traffic to a website:

- Targeting. Such advertising is set up in search engines and social networks. The main advantage of targeting is the ability to segment the audience (by age, gender, region, etc.) and not "shoot sparrows with a cannon."

- Linkbuilding. This is a full-fledged strategy for placing links to a site from authoritative sources. By placing quality links on your site, you will increase its reputation in the eyes of search engines and get more organic traffic to the site.

But most importantly, focus on developing your personal brand. Actively manage social media pages, create your blog or column on an article platform, participate in thematic online conferences, and give interviews. This will increase the audience's trust and set you apart from competitors.

Creating a personal brand and building a business around it is a trend that cannot be ignored.

Scaling an infobusiness through affiliate marketing

Every business requires constant improvement. After testing your skills in the information field and earning initial capital, it is logical to expect the scalability of the project and the further creation of a full-fledged educational platform.

For rapid development and sales automation, you can import network or affiliate marketing methods into business processes.

Affiliate (referral, bonus) program is a special form of cooperation with satisfied customers. If people like the training, they can recommend it to their friends and receive a bonus from the project in the form of a certain amount of money, a free product/service, or loyalty points.

Underestimating the role of affiliate programs in modern business promotion is simply impossible. Almost always, to some extent, traditional companies use network marketing methods to attract customers and increase sales. The blend of classical and affiliate business is a proven algorithm for the development of commodity, insurance, tourism, and other sectors.

Affiliate programs are actively used in companies such as Tutu.ru, Booking.com, Lamoda, L'Étoile, Yakaboo, and many others.

The hybridization of MLM and the information sphere is definitely profitable and beneficial, although few course founders have come to this conclusion. By acquiring the necessary knowledge from you, the consumer gets the opportunity to become not only a service buyer but also a partner. Moreover, this approach has a positive impact on consumer loyalty, improves the business's reputation, and reduces the need for advertising to attract new information consumers.

A well-written compensation or marketing plan indicates the direction of a company's promotion and its product. To learn more about what makes good marketing, read the article Your Ideal Marketing Plan

Who Can Help Implement an Affiliate Program

By trusting developers working in the network marketing field, you will receive a quality implementation of a business solution and save resources. At the very least, developing a compensation plan requires an expert approach and prior experience. However, most contractors in the business analytics field are not familiar with the specifics of the MLM industry and lack marketing calculation practice.

Team FlawlessMLM, based on practical experience, will help you integrate any type of affiliate program into your business processes. Additionally, our team will assist with marketing selection and development, minimizing any risks and optimizing it to suit the specific needs and interests of your audience. Contact our manager in the website chat (flawlessmlm.com) and learn more about solutions for your business.