Brands and companies in the digital age have been forced to move the majority of their business online. With so many people turning to Amazon, eBay, Etsy and other online retailers for their shopping needs, it's no wonder that more and more brands are looking for ways to generate revenue online by selling products directly from their own websites through e-Commerce.
Start By Asking "What Would I Like to Create"?
If you have knowledge that you think could be turned into a product, the first step is to ask yourself what type of product you would like to create. There are many different types of products that can be created, so it's important to think about what would be the best fit for your knowledge. Once you have an idea of the type of product you would like to create, you can start research what steps you need to take to make your product a reality.
Productising your Knowledge
What are your unique talents and abilities? What can you do better than anyone else? These are your capabilities. And if you can convert your knowledge into products, you can leverage your capabilities to create an online business.
Productising your knowledge means turning what you know into an information product that can be sold online. This could be in the form of an e-book, video course, audio program/podcast, or even a physical product.
There are several reasons why you should consider productising your knowledge:
If you have valuable knowledge that others would be willing to pay for, then converting it into a product is a great way to leverage your skills and create an online business.
What should you create?
When it comes to sharing your knowledge with the world, there are a few different ways you can go about it. You can create audio or video recording, or even convert your knowledge into a product like an e-book, online course or webinar. So which method is best?
Well, it depends on what you’re trying to achieve. If you just want to share your thoughts on a topic and get some feedback from others, then a blog post is probably the way to go. On the other hand, if you want to share your expertise on a topic and reach a wider audience, then creating a product like an e-book, webinar or even a podcast may be a better option.
There are pros and cons to each method, so it’s really up to you to decide what’s best for you. For example, writing an article t is quick and easy, but it doesn’t have the same reach or impact as a product. On the other hand, creating a product takes more time and effort, but it can be a great way to position yourself as an expert in your field.
Who is your target audience?
When you are thinking about whether or not to convert your knowledge into products, it is important to consider where your target audience is. Your audience will generally fall into two categories – Individual or Organisation. This will determine if your product needs to be marketed as a B2C (business to consumer) or a B2B (business to business) product. Each has a distinct difference and different ways in which to sell and marker to.
Once you determine where your audience fits, breaks it down further. If you are targeting a general audience, then you may want to consider creating products that are more widely accessible. However, if you have a specific target audience in mind, then you will need to create products that are tailored to their needs.
Either way, it is important to consider your audience when making the decision to convert your knowledge into products and generate revenue online.
Final Thoughts
If you're knowledge-rich and looking for ways to monetise your expertise, converting your knowledge into products is a great option to consider. Not only can you generate revenue online from selling your products, but you can also use them to build up your brand and attract more customers.
There are a few things to keep in mind when converting your knowledge into products, such as making sure your products are high quality and offer value to your customers. But if you can create products that people love, you'll be well on your way to success.