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Information products are a hot commodity in the online marketplace, transforming traditional entrepreneurs into infopreneurs. E-books and special reports are two of the most basic forms of info products. They are relatively easy to create and distribute and best of all, these products can generate passive income — money you make while you sleep.

            An e-book is an electronic book that can be downloaded to a reader’s computer or hand-held device. Special reports are similar, but typically shorter in length. Some savvy Internet marketers sell special reports ranging in size from two to twenty pages. E-books tend to be more comprehensive, with page counts from twenty to three hundred.

            If you’ve been thinking about cashing in on this trend, then follow these simple steps to get started.

Establish Your Expertise

Everyone is an expert at something. Whether you are great at writing financial reports, organizing a home, or training hamsters, you have something to offer the public. Sure there may be other people out there with similar qualifications, but that doesn’t mean there isn’t room in the market for another expert. If you have a unique approach, you can compete with the best of them.

            Building your expert status takes some effort. If you have special degrees in your field, a popular web site, have published articles, been quoted by the media or given presentations on your topic, you are on the right track. If you don’t yet have these qualifications on your resume, start working on adding as many of these credibility-builders as possible.

Find Your Audience

You could write the most fascinating e-book on the planet, but your parents and friends will not be enough of an audience to make it worth your while. To be successful at selling e-books and special reports, you must be able to reach a broad group of buyers. The best place to start is with a content-rich web site.

            For example, if you want to become an expert on dog training, your web site should appeal to dog enthusiasts. To attract an audience, offer resources and articles that appeal to the dog-loving community. You can write your own articles or ask others to contribute content to your site. You can also locate articles available for reprint from sites like ezinearticles.com and ideamarketers.com. The key is to offer as much valuable information as possible. When your site visitors find value, they will be more interested in investing in the products you have for sale.

Communicate with Customers

One of the most effective ways to reach potential buyers is with an e-zine. By sending a monthly or even weekly electronic newsletter, you accomplish several things at once: you get your name in front of your web site visitors, you establish credibility as someone who provides valuable information, and you can get your products in front of readers repeatedly. Studies show that the average consumer must be exposed to a product six to eight times before making a decision to buy. Your e-zine can become a powerful tool for your information product business.

            To capture subscribers to your e-zine, provide a subscription link on every page of your web site. You may want to offer a bonus, such as a complimentary special report or e-book, to entice visitors to sign up.

Create Your Products

Once your web site is drawing traffic and your e-zine is going out on a regular basis, you’re ready to create your first information product. First you must decide what topic to cover in your e-book or special report. Consider what information your site visitors want to know. Do you receive the same questions over and over? Answering those could be the basis of your first product. You could also survey your customer base to find out what interests them.

            Once you know what your subject matter will be, then get to work on writing your first e-book or special report. It would be wise to have your content edited by either a friend or a professional so you can ensure you are delivering the best output possible. Don’t forget to include your web site and contact information along with a copyright statement similar to the following, as well. HBM 

Stephanie Chandler is the author of FROM ENTREPRENEUR TO INFOPRENEUR: MAKE MONEY WITH BOOKS, E-BOOKS AND INFORMATION PRODUCTS (John Wiley & Sons, December 2006) and the founder of www.BusinessInfoGuide.com, a directory of resources for entrepreneurs. Sign up for the monthly newsletter to receive hot tips for running your business.