This method of making money online is both popular and profitable. Many people who used to hold on to regular jobs while dabbling in internet marketing to earn extra income have long since quit their day jobs and enjoyed the benefits of earning online through info product marketing. But how does one create information products?

Here are 5 simple and easy to follow steps in product creation.

Step 1 – Niche Identification

In this first step, you browse around the internet looking for opportunities. The goal is to find out what people are talking about and see if in their discussions there arise any problems or questions which need some sort of solution.

Think about a topic you are interested in or may have some knowledge about.

Then go to forums that are related to these topics and dig down by searching for certain keywords related to the topic. You can also go to Yahoo Answers and do a search for keywords related to the topic and see what sort of questions or help Yahoo Answers users have been posting about.

Step 2 – Market Research

In this next step, the goal is to see if people are spending money on information products in this niche.

Take those same keywords you were searching for in the previous step and go to Google and do a search for those keywords. Take note of which keywords had plenty of AdWords ads on the upper portion and right portion of the search results page. A keyword which has at least 10 or more ads is a good sign, if people are advertising on the keyword, then there must be money to be made from that keyword. However, you should also check each of those ads to see what is being advertised. If there are no information products being advertised, that can be both a good and bad sign, and you can find the answer to this in the next step. If however there are other info products advertised, then this is a good sign that this is indeed a profitable niche. Also note what kind of products these are; whether they are free reports, ebooks, audio or video.

Step 3 – Direct Survey

This is a step where a lot of information products go wrong because the product creators are quick to make conclusions based on favorable results of the previous two steps.

Take research a step further by actually creating a survey and driving AdWords traffic to a survey page. Be sure to use the keywords that you used in the previous steps, as this will also give you an idea which keywords your potential customers will be most receptive to when you promote your information product later on.

This step is to further support the results of your previous steps. In the survey you can ask your respondents specific questions that relate to their problems or questions about a certain topics, what format they are most receptive to (ebooks, audio, video, etc), and other telling questions that will help you structure your information product.

Step 4 – Product Creation

This is the step where you put together your information product to meet the needs of the persons you have surveyed. You can put together this product yourself if you have personal knowledge about it, or you can simply have it outsourced by people who are experts in this field in places like guru.com, Elance or other sites where you can find experts on the field that you can tap to produce your product with your own input based on what you have found in your research.

Step 5 – Making it Available

Now that your info product is ready, you have to put the product on the rack for buyers to see it. What this means is, you have to put the product on a website created specifically for this purpose. With a good amount of promotion and advertising, you will be on your way to earning a decent passive income from your information product.

Learn how to promote information products to hungry niche markets. Visit our Niche Profit Classroom Review for more information.

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Ed just does a quick overview of Google Analytics and how you can monitor your traffic. Google Analytics can tell you a wealth of information and is an extremely powerful tool. The best way to learn how to use it is just to spend time pushing all the buttons and seeing what they all do. Some of the important things you will want to look at is the search traffic data and what keywords people are typing in to the search engines to find your site.

Think about this, if you are getting traffic for a particular keyword and you are ranking say 26 imagine what would happen if you managed to rank in the top 10 considering only 2% of people click on the second page of results.

A good idea is to check the sites ranking above you for those keywords using the SEO tool for Firefox and determine if you think you can outrank them. Look for sites no older than 3 years with few back links as they will be easy to out rank.

If you aren’t receiving traffic and your site is indexed then you may need to re-evaluate your keyword and target something with less competition. The worst thing you can do is keep promoting a keyword which isn’t performing. Don’t be afraid to go back to the drawing board and start your market research again.

If your site isn’t indexed then you need to get more back links, it’s as simple as that. Building a Squidoo lens and social bookmarking it should get your site indexed in 24 – 48 hours max.

Using Google Analytics To Check Your Blog Stats

Today’s Videos

What To Expect In The Thirty Day Challenge

Ed talks about how crucial it is to research your market before promoting or creating a product. In fact the product comes last in what Ed calls “a magnificent symphony of four parts”. Which are market research, keyword research, traffic generation and finding or creating products.

Recommended Setup For Thirty Day Challenge

A quick overview of the tools which will be used in the 30 Day Challenge including the 30 Day challenge toolbar, Flock web browser, Stumble Upon, FreindFeed, Twitter, Twhirl, Google Reader and YouTube.

The Getting of Ideas

How to use Amazon to find ideas and keep up to date with your market by subscribing to Google News RSS feeds using Google Reader and using Google Alerts.

Overview of Day 1

Amazon is a massive “encyclopedia” as Ed calls it of products sold in every market imaginable. A good place to start is in the non-fiction books and the magazines section. You can guarantee if there is a book or a magazine on a subject then there is a niche which you can capitalize on. At this stage you want to find as many niche ideas as you can and Ed recommends finding niches which you have some interest in as they will be easier to work with.

It’s a good idea to try and find small niches as it will be easier for you to compete in rather than trying to go after the big ones such as ‘weight loss’ where there is intense competition.

You can keep up to date with your choosen markets by using Google Alerts www.google.com/alerts by simply enterting in the main keyword for your market and your email address. You can set how often you want to be emailed about any new content and you can also set up a rule in your inbox so that emails are automatically sorted for each niche.

You can also go to Google News www.google.com/news and enter your main keyword then you will get a list of the latest news related to your market which you can then subscribe to the RSS feed of these results so that you can easily keep up to date as new content is added. RSS feeds are an internet marketers best friend as it makes it much easier to manage and process large amounts of content from multiple sites all from one location. That location is Google Reader www.google.com/reader

To subscribe to the feed enter you main keyword into Google News search and either click the little RSS icon in your address window or in the left sidebar you should see a link which the name RSS. Simply right click and copy the link then go over to Google Reader, click add subscription and paste the link and click save.

It’s a good idea to create folders for each niche so that you can keep everything nicely organized.

That’s about it for day 1, feel free to subscribe to our feed to keep up to date with the rest of the challenge.