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This article alerted me to the decline of information sales (such as training courses – currently my largest source on income online), so I started looking round for the next big trend to add into my multiple streams of income.
And the question is:
“If Selling Information is Dead, What Do You Sell Instead?”
If you’re aiming to build an audience and monetize your expertise by teaching others, it’s time for a reality check. Packaging and selling information alone doesn’t sell as well now as it did 5 years ago.
Information selling certainly isn’t dead, it’s just far more competitive thanks to information overload and the rise of AI.
Using even the free version of ChatGPT, anyone with half a brain can knock out an eBook, use a free funnel builder (like Systeme) and they’ve created an information product.
Yes, I’ll confess I had a go, but realised just how competitive it is. Everyone and their grandma are producing eBooks to sell online. That’s the easy part. Selling it is the hard part, and of course there are training packages to help you do that – so it’s not (yet) 100% true that selling information is dead.
However, if you want a true advantage, you might consider adding a different stand of income as an aternative to information selling so that you’re not just surviving online but thriving.
The Decline of Information Sales
During the pandemic in 2020, the demand for online courses soared as people were confined to their homes. However, as the world reopened, there was a notable decline in course sales. The market became oversaturated with information, leading to “information fatigue” among consumers.
Don’t get me wrong, courses and information still sell, especially if it’s something that is not easily found for free online. It just doesn’t sell as well as it used to, and this decline in information sales is likely to continue.
Why Information Alone No Longer Works
The sheer abundance of free information online has devalued it. In the past, selling information was lucrative because it was scarce. Today, the same information can be easily accessed for free. With the flood of content available, people no longer see value in paying for information alone.
What People Truly Value Today
Ahh yes, now we get to the nitty-gritty.
The key to success in today’s market is to understand what people now find most valuable: Time and results.
In a world where information is ubiquitous, people are willing to pay for solutions that save them time, and help them achieve tangible results. This shift has led to a new focus on selling implementation rather than just information.
3 Strategies To Combat Decline of Information Sales
To adapt, consider these three approaches to providing value:
- Do It for Them (Service)
Offering a service where you do the work for your clients is a direct way to provide value. This approach addresses the lack of time or expertise that many people face.
It’s a quick way to generate revenue, and while it might not be passive, because you are trading your own hours for money, it can be scaled through hiring and developing an agency model.
- Do It with Them (Coaching/Consulting)
Coaching or consulting involves guiding clients through the process, providing them with the necessary information and helping them implement it.
This model leverages accountability, a critical component that traditional online courses lack. By working closely with clients, you ensure they achieve their desired outcomes. Again, you are trading your own time for money.
- Do It with Others (Community/Cohorts)
Creating a community or running cohort-based courses allows clients to learn and implement together. This model fosters accountability and support, significantly improving completion and success rates.
Communities offer a structured environment where participants motivate each other and share their progress, enhancing the learning experience.
Converting Convenience
People value convenience. Your offerings need to provide convenience and structure that free resources lack.
This includes bundling information in an easily accessible format and providing additional resources and support to ensure success.
Differentiate Your Offerings
Clearly differentiate your offerings from the free information available online.
Highlight what makes your service unique, whether it’s the implementation support, the accountability structures, or the community aspect. Make it evident why someone should pay for your solution.
Support your claims with real-life case studies and proof of success.
If you’re starting out and lack testimonials, find one person, solve one problem, and achieve one result. Use this success as proof to attract more clients.
Bottom Line
In today’s information-overloaded world, selling mere information is becoming more difficult. Instead, focus on providing implementation, accountability, and results.
By adapting to these new strategies, you can not only meet the changing demands of consumers but also build a sustainable and thriving business.
Key Takeaway from Decline of Information Sales
Stop selling information; start selling transformation.
So what does this mean for me and YOU, if we are continuing to market information courses teaching people how to learn Affiliate Marketing.
These are still excellent value for people who apply the training – but so often ‘something’ stops them taking the necessary action to move forward.
Promoting Mindset Transformation
I have added into my mix a service that transforms people’s lives with group coaching sessions. They are delivered by a real, qualified trainer, and with live attendees demonstrating mindset techniques that will ‘program you for success’, in any aspect of your life.
It’s very new (as at July 2024) and for those who like a self-funded business there’s a compensation plan attached so that you can earn as you learn. Not that $20* a month (or $5 per weekly session) should put anyone off from learning techniques that can transforming the rest of their life. (*47 in month 1, for the marketing pack.)
Early feedback from participants in coaching sessions is fantastic. Here’s my own feedback from an early session, you’ll see even more when you optin for more information below.
It’s not a total cliff drop, this decline of information sales, but I’m getting ahead with the new trend, selling life transforming techniques (click here) – with a live coach, check out this new business. (The marketing pages are being improved!)
