Definition of Information Marketing
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Avish: Before we get too off and running with tactics and strategies, I just wanted to make sure we’re all on the same page. So when you say information products, what do you mean by that?
Fred: Okay. Information products are, you know, and again they could be a lot of things, but traditionally information products are the Big Four, but there are others other than the Big Four, so we can cover those as well.
Number one, they’re audios like we’re doing right, here. Number two, there are written information products like books and e-books. There’s also video information products in the form of DVDs or online downloadable or just viewable videos, and there’s also experiential events, like seminars, boot camps and the like. So those are the Big Four. However, there are some additional information products that everyone should know about and put together. For example, you know, an information product can be a piece of software. It, you know, it can also be a membership site. But again, the core of any information product business are the Big Four, the audios, the videos, the written materials, and the experiential events.
Avish: Okay. So basically, it’s as long as it’s something that’s conveying your information or knowledge or experience?
Fred: Yeah, it’s anything in which you can take your knowledge, information, background, and experience, and put it into a form where others can understand and consume it and pay you for it. That would be an information product. But again, in addition to the Big Four, we might introduce people to things like, you know, various kinds of software that would assist them. And again, the definition of an information product tends to be expanding because basically anything that will help people achieve knowledge, information, and goals about a given topic, can be categorized as an information product.
So for me, outside of the Big Four, you’d have software, you’d have membership sites, but all of those things. Now the software is sort of a category in and of itself. However, usually in a membership site they are, the people who are signing up for your membership site, are generally getting access to some of the Big Four elements. These Big Four elements can be, you know, displayed and distributed in different ways. Excuse me.
For example, you know, if we’re talking about audios they could be downloadable mp3s. Or they could be something where there’s streaming, where you go to a site, you click on a link, and you start to hear the information. Same thing is true of the videos, and also in terms of the seminars. They may be recorded, people might attend them live. But those are the Big Four items, the audios, the videos, the experiential events, and the written material, and there are some other ones that we traditionally speak of as information products as well.
Avish: Okay. Now when it comes to various types of products, you make a distinction between timely and timeless products. So, what’s a timely product and what’s a timeless product?
Fred: Yeah. A timely product is something that has some kind of relation to what’s going on out there in the world. And so that it might have, it’s almost like when you buy milk, you have an expiration date, which means that it only has value, or will be good, for a certain period of time. So think of a timely product as something that relates, let’s say for example, you and I are discussing something that has to do with search engine optimization. If we’re talking about SEO stuff, chances are that what we talk about today might be very different than what we talk about 18 months from now, because those things tend to change.
Timeless products, or timeless elements of a product, are those elements or those products which pretty much they’re the same sort of yesterday, today and tomorrow. They’re sort of staples that can’t and won’t really change. For example, if we, you know, if you take a book like Think and Grow Rich, you know the people that read that when it first came out over 60 years ago got the same kind of information that people who read it today would get and it’s equally as valuable. So timeless means it will have value forever because it’s a concept or a principle that will remain the same. Timely is something where things are apt to change.
Avish: Okay, makes sense.
Fred: Now, one of the things we should do before moving on is understand this. That people will ask the question, you know, should I be producing timeless products? Or should I be producing timely products? And the answer, not surprisingly, is both.
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