Selling digital products is what is helping me as a student in school today.
So many people are hungry to have the knowledge you have. Give it to them by creating digital products on that subject.
When I noticed that Blogging and Python courses are in demand I didn’t hesitate to create them. These two courses alone paid me a lot and are still paying me to date.
You will see how to replicate my kind of result in this post today.
By now, you’ve definitely noticed how many entrepreneurs are building incredibly profitable businesses on the backs of high-margin digital products.
E-books, online courses, audio goods, downloadable templates, software, and other digital products are becoming increasingly popular due to their inexpensive creation costs (your primary input being your time and expertise) and inherent scalability.
However, with more than 300 million new websites launched each year, there’s a huge amount of competition to capture people’s attention in just about any subject area. It will only get more crowded as time passes.
Putting up some banner advertising, installing affiliate links, and taking sponsored content from your favorite brands is no longer enough to make money online. Sure, those are all reasonable monetization tactics, but they aren’t where the big money will flow in the future.
You should think about how you can sell digital products through your company. Consider how you can package your services as do-it-yourself online courses if you have a valuable skill set. If you’re an expert designer, your less experienced colleagues could be prepared to buy templates from you. If you’re an expert in any industry, I’m sure there are people who will pay for a digital guide or instructional film that will help them learn faster.
Selling digital things is, in my opinion, the most appealing online business. They’re infinitely scalable once you’ve created the products, there are essentially no associated costs for each unit you sell, and if you promote your products well enough, you’ll be able to rank high in organic search results and attract new clients at a cheap cost.
“Information goods are low-cost, quick to make, and time-consuming for competitors to duplicate,” Tim Ferriss says in his groundbreaking book The 4-Hour Workweek. Countless successful entrepreneurs have built a name for themselves using digital items as a platform.
Of course, as with any worthwhile business, you will not attain overnight success. You must first put forth the necessary effort. My eight steps for launching profitable digital products are as follows:
1. Validate Your Digital Product Idea
I frequently discuss the significance of verifying your company ideas, partly because I’ve failed terribly at it in the past. Consider this: There’s no purpose in investing all of your energy to creating a product that no one wants for days, weeks, or months.
Before you start creating any digital content, do some market research. I begin by searching Google Trends for subjects of interest around which I may develop viable digital content. Google Trends will show you the popularity of a given keyword phrase over a set period of time after you enter it.
The Google Keyword Planner, which is part of Google AdWords, is the next tool I use to assess the potential success of a digital product. This allows you to look at the monthly search volume as well as the expected competition for specific keyword phrases.
If you can combine strong demand with low competition, you’ll have a fantastic chance to manufacture and sell items relating to that keyword phrase—as long as you have the correct strategy and can deliver more value than the competitors.
Don’t be hesitant to seek input, as long as you make certain it comes from unbiased sources. Your friends’ and family’s opinions don’t always reflect complete honesty.
To get truly impartial, real input, look for related forums and social media groups online and check out these 6 great websites for unbiased feedback.
2. Set Up a Waiting List
People enjoy the thrill of the unknown. Setting up a waiting list is also one of the most effective ways to evaluate your digital product idea, as you’ll be able to observe how many people are interested in your product rapidly by delivering focused traffic to your registration page.
It makes no difference how good your product is if no one is aware of it. Because your email list is one of your most precious assets, it’s in your best interest to grow it with new subscribers.
Before you construct anything connected to your prospective digital product idea, I propose starting with a simple landing page on your website. This will allow you to test the waters with this product proposal, begin to be indexed by search engines, and prime your current audience. Here’s an example of a very basic landing page I created to test the authenticity of an online course on how to start a business while working full-time.
If someone is interested enough in your online course concept, downloadable product, or service to give you their email address, you can bet they’ll want to buy your digital goods once they’re available.
3. Start Building Your Audience With Free Content
Once you’ve created a landing page on your website to gather email addresses, you’ll need to start providing visitors reasons to visit it and sign up.
Begin by writing high-quality blog content for your website and compiling a list of firms, brands, and influencers who might be interested in sharing your content with their audiences. The persons on your list will also be excellent candidates for posting guest pieces that you know their audience will enjoy. I find these distribution chances via BuzzSumo.
Guest posting has been by far the most effective source of new traffic and signups for my digital content’s waiting list. Since you identified your niche while validating your idea in the first step of this process, it’s time to look for other, more successful blogs that cover the same topic.
Examine these blogs and offer them ideas for articles you could write. Make sure your ideas are on topics that are related to but not identical to those they’ve already published.
If you’re just starting out with your online brand, you’ll have to make a lot of pitches before getting accepted, but you’ll ultimately get a few guest articles, which you can then use as leverage to get more. Check out Ramit Sethi’s comprehensive approach on landing high-value guest posts.
Most blogs will allow you to include a brief bio with your post, as well as some relevant contextual (non-spammy) links.
Of course, you’ll want people on your list to remember you, so keep your blog updated with new content on a regular basis—aim for at least one solid article per month.
One way you can help speed up the uptake of names to your list is to create a small digital product that you can use as a “free giveaway” in exchange for an email address, offer a pre-launch discount, or even access to a free webinar or coaching session.
Also read: How to Become an Infopreneur
4. Create Your Digital Product
You should have a trickle of regular traffic to your website once you’ve built an email list or a sizable social community (at least a few hundred to a thousand people), which will justify spending more time building your digital products and getting early feedback from your community.
The goal at this point is to shift your focus away from guest posting and toward enhancing the quality and frequency of your own content. Focus on ranking for your desired keyword phrases, bringing visitors over to your waiting lists, and even pre-selling your online course now that you have enough readers to justify posting more frequent pieces. Check out Bryan Harris’s incredible case study on how he made over $220,000 on his course launch.
It’s time to start creating, whether you’re ready or not. To many, the most difficult component of the entire process—creating the digital product—is simply because it is a completely new experience. The crucial thing to remember is that once the material has been made, it can be reused indefinitely.
You might find that online courses are favourably received by your target demographic. If you’re an expert on a topic, most audiences want you to teach them, according to Nathan Barry’s experience in building digital goods. People will gladly pay for a skill that they appreciate if you can teach it to them. Consider paid webinars, group coaching sessions, and gated portions of your website with more extensive blog content as monetization possibilities that are quite simple to implement.
Finally, think about how you’ll sell those digital things from your website as you’re creating them. Which software will you use to create landing pages? Which method will you employ to collect payments? Will you keep track of your customers’ information? Where will you keep track of order information? Selz, which is created expressly for this type of scalability, is a must-try.
5. Incorporate Feedback and Tweak Your Product
You want your digital products to change with your audience if you want them to be successful. Pay attention to what your audience has to say. A digital product is far easier to upgrade than a physical product, and your customers will welcome receiving new versions. They are significantly more inclined to buy your next product if they perceive you consistently adding value to what they have already purchased.
If you’re conducting any kind of online coaching or courses, I recommend running a beta group through your course first, so you can improve it while it’s still being created.
A pre-launch group will also allow you to have your pupils put your strategies into action. This should provide you with some fantastic testimonials to display on your landing page once you’ve gone public.
Conrad Wadowski, a co-founder of Teachable, created the Profitable Course Idea class with the goal of allowing anyone to walk themselves through the process of creating their own online course. At a premium cost, they can upgrade to personal coaching.
He needed actual people to try the course and see if it provided the value they were searching for in order for it to be a success. That feedback would help him enhance the course and provide him with valuable testimonials to utilize in his sales copy and marketing.
Also Read: 7 Strategies to Market a Book
6. Install the Right Monetization Tools on Your Website
You’ll want your website to work as smoothly as possible once you’ve reached the point where you can monetize it. This will necessitate the addition of some tools.
There are a few crucial plug-ins that will make your life much easier if you run a WordPress site. Here are some of my personal favorites:
- My favorite WordPress theme is OptimizePress. It’s ideal for building high-quality landing pages, adding new features, and posting blog content.
- Zippy Courses is a simple WordPress theme that can be used to power any online course while also acting as a member site for your users. In this closed community, you’ll physically host your course content.
- Selz for WordPress is a fantastic embeddable widget that lets you sell digital things and accept payments right on your own website.
- SumoMe, for example, collects email addresses and assists you in welcoming newcomers to your group.
- KingSumo Headlines helps you optimize your headlines and provides you a greater chance of discovering which headlines and content kinds your audience responds to the most.
- To encourage visitors to share your pages and posts on their social media channels, AddThis includes clear social share buttons on each post.
7. Target and Involve Strategic Launch Partners
Make the introduction of your digital product a big deal. It will elicit excitement from your audience, as well as motivation from you, and the resulting buzz will result in improved conversion rates and more new customers, I guarantee it.
The more influencers, businesses, and bloggers you can bring into your space, the better. Consider how far your reach could go if you teamed up with someone who has a much larger following and is interested in the same issues as you.
It’s a win-win situation for both of you if you can partner with someone else in your sector to advertise your product launches (usually for an affiliate commission fee per sale).
Also Read: Top Three ways to make money online
8. Launch to Your Audience and Expand From There
Launching your digital product is merely the first step in a long process. This is a fresh start that necessitates a whole different approach to your tasks. Everything may be scaled upwards from here.
To develop anticipation among your existing audience, you’ll want to send a series of emails. One of the main reasons you spend time creating an email list in the first place is for this reason. Focus on sending at least three to six emails that serve three strategic purposes:
- demonstrating the issue to your audience
- Agitating the problem
- Providing them with the solution (your digital product)
After you’ve launched your digital product to your personal community, it’s time to expand your reach and resume guest blogging (on topics related to your new product), onboard more affiliates with similar audiences, and keep blogging and creating great content on your website in order to attract more organic traffic.
If you have a large social following, now is also a good time to experiment with paid advertising on Facebook and Twitter, as well as selling directly from your Facebook page, which will help you raise your conversion rates.
Once you’ve pushed your digital products into the public, you’ll be able to monitor which channels are bringing you more new clients. You might discover that guest posting more frequently than publishing on your own site is a more efficient use of your time. It’s possible that operating Facebook ad campaigns will prove to be extremely successful.
Continue to test, learn, and multiply your successes until you’re ready to design your next digital product around the needs of your new audience.
Then it’s time to start the whole thing over.