This is a guest blog post by Tara Gentile, who blogs about the handmade movement & creative community at Scoutie Girl, writes about her life behind-the-scenes at taragentile.com, and specializes in WordPress design for artists and crafters.

I was very hesitant to get into the info products market. Can I write something people are willing to pay for? I wondered. Will people really buy a product they can’t touch? Can you really make money in your sleep? But I was anxious to find new ways to monetize my web presence, so I took the plunge.

The basis of my product, an e-book, was helping artists and crafters use their blogs to better market their business. I accomplished this by developing a simple, weekly plan for breaking out of self-consciousness, engaging readers, and gaining discipline: 52 Weeks of Blogging Your Passion.

This was my first info product (although now I’m completely hooked!) Here’s what I learned during product development and launch.

Five Lessons Learned While Creating My First Info Product

1. Set a time line.

The idea for 52 Weeks was conceived in early December. I knew that the prime time for selling the book would be around New Years. I set a clear time line for myself: outline, then general information, then each month, then layout, and finally proofreading. Each item had a due date. And I told several people to keep myself accountable.

2. Build a buzz.

I let everyone know through Twitter and Facebook that I was working on an e-book. At first I thought I’d keep the topic a secret, then decided, ‘What the heck?’ And I let everyone know that too.

People were super-excited about the launch, very encouraging, and I knew I would have sales right away. Having that buzz kept me on track and it was a great way to market the e-book before it even existed.

Next time I launch a product, I’ll use this buzz to secure a strong affiliate base before the initial launch. My first thought was to keep the first week of sales all to myself, but using affiliates only helps to broaden your market – not take money out of your pocket!

3. Develop a strong affiliate program.

I thought that I would introduce affiliates in the second week (or later) of my launch. So I put off developing graphics, copy, and encouraging my potential affiliates until after the initial launch. Next time, I’ll build my affiliate program development into my initial time line.

I also did not anticipate how many people are unfamiliar with affiliate marketing. Adding this into my plan — beyond just “get affiliates” — will make it easier to educate and encourage potential affiliates.

4. Have a promotion plan.

This is another thing I should have worked into my time line. I had a few bloggers I knew I wanted to contact. But aside from affiliate sales, the vast majority of my sales have come from within my own network. Next time I’ll develop a press list, several press releases, and a plan of attack.

I’ll also consider which parts of the book I want to develop into guest posts. I’ve had many offers to guest post because of the book but I could generate even more if I would have thought out posts while I was writing the e-book. Guest posting about “52 Weeks” not only generates sales but provides valuable back links to my other web properties!

5. Discounts don’t always work.

The discounts I offered on this particular product at its particular price point didn’t work. I priced my e-book at $15, and I’ve seen others offered as low as $5, or as high as $39.99.  I was very happy with the price I choose because I didn’t think my expertise was worth just $5 but I wanted the product to be available to as many people as possible.

Here’s what I think. $15 was a great price. The vast majority of people who were going to pull the trigger on the e-book were willing to pay $15 for my information and experience. Lowering the price at certain times only reduced my profit.

The Final Word on Info Products

Overall, the launch of my first information product was a successful one. In fact, I can’t wait for my current workload to slow a bit so I can get started on my second, third, and fourth. There is nothing like the feeling of waking up to sales — literally making money in my sleep. I’ve made the value of my time spent on the book over many, many times.

Have you developed an info product? What did you learn during the process? Leave your responses in the comments section below.