When you're creating a new product, consider whether to do it in audio, video or just plain text. Although audio is a feasible and attractive option for delivering your material, it might not be the best option for you. Use these eight criteria to help in your decision.
1. Experience
If you have already created audio products in the past, you'll be comfortable and familiar with the process, so it's easier to create new audio products. Of course, just because you don't have experience doesn't mean you should never use that format - after all, that's how you get the experience!
2. Speed
Audio can be faster than video, because you don't have to worry about lighting, background, grooming and other visual factors. It's also easier to do the post-production - such as editing, voiceovers and adding music.
3. Margin
Audio products are usually easy and cost-effective to create, and you can sell them for more than printed material, so they have a high margin. Even if you pay for studio time and professional post-production, you usually make a bigger profit on them.
4. Leverage
How can you use this product in different ways? An audio clip can be used as a single downloadable file, a podcast episode, a CD, voiceover for a slide presentation, and so on.
You can also offer this in paid or free versions. For example, an audio CD can be a paid product on your Web site or a gift you send to your top 20 clients.
5. Demand
It doesn't matter what format you prefer; what format does your market prefer? Audio products are ideal for people who drive a lot (and listen to CDs in their car), listen to podcasts, or like listening to educational material while multi-tasking.
6. Technology
What technology does your market use to consume the material? Audio files are smaller than video (so they are faster and cheaper to download), but bigger than text.
7. Convenience
It's not only the technology that matters; it's also the convenience of the technology. For instance, many people prefer audio because they can listen while doing other things - such as exercising and travelling. On the other hand, other users prefer text because they like to print material and take it away from the computer to read.
8. Price
What is your market willing to pay? The traditional view is that video is priced higher than audio, which in turn is priced higher than text. However, there's no point creating material at a higher price than your market can bear.
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