The world is hungry for digital products, and digital creators are popping up everywhere to meet demand. With various formats like ebooks, online courses, and instructional videos, it’s clear that developing digital products is a viable option for anyone trying to increase their audience while increasing their revenue potential.
But creating something from seemingly nothing can be hard to wrap your head around. It seems like a lot of time and effort, and it can be hard to see the end result. And with the influx of entrepreneurs trying to make their mark on the digital marketplace, you’ll need to stand out. So many people with solid ideas abandon their work early on, fearing they’d only create a small ripple in the sea of content and see no substantial return on investment.
It’s important to remember that when you create a digital product, you now have something you can sell continuously. And while it’s true these products can take time to develop, they have insanely low start-up costs. Once you’ve made the product, the amount of maintenance and oversight you’ll have to do is slim to none. So the time you spend building a digital product could lead to passive income and more visibility for your target audience.
Are you starting to feel sold on the idea of selling your idea for a digital product? Before you start, follow this guide designed to walk you through the process step by step and get your quality digital product in online shopping carts everywhere.
What is it you’re trying to sell? The more specific you are, the better. Generate as many ideas as possible; they won’t all be good, and they don’t have to be since you won’t be making all of them. You’d be surprised how many “bad” ideas can become good with a minor adjustment or change in perspective, so keep an open mind.
If you know you want to create a digital product, but aren’t sure what it looks like yet, consider what problems your audience typically suffers from. Whatever it is, your goal is to devise a product that solves that problem. Think about what you can do to help or connect with your customers that relate to your industry. Don’t hesitate to use some ideas from your competitors as inspiration. But whatever you do, ensure that all of the ideas for your product are yours alone.
Once you have a healthy list of the most profitable digital products to sell online, narrow down how you’ll present the product. Play to your strengths here – an instructional video could be a perfect fit if you’re a charismatic conversationalist. In contrast, talented writers might find they can connect with others better through an ebook rather than a video. If you’re comfortable collaborating on your endeavor, you can always work with someone with the skillset you’re looking for.
You still haven’t officially chosen anything at this stage, so this is an excellent time to do market recon and gather information. What type of digital product sells best, both in your industry and overall? What angle do most entrepreneurs with your product idea take? Is there a potential market if you go in a different direction? Don’t limit yourself to blogs and think pieces from experts in your field; you’ll get a lot out of combing through social media from prospective customers as well.
With a list of ideas and your product type chosen, it’s time to settle on one concept and start the planning process. Flesh out how you plan to execute the creation of the product from start to finish. It doesn’t need to be too involved as long as it’s clear what you’re trying to accomplish. As long as you have a thorough outline of what you plan to create, how you plan to create it, where you’ll sell it, and who will buy it, that’s really all you’ll need.
Your outline should be concise but also flexible. Avoid overcomplicating it with strict deadlines or various bullet points. The creation stage will likely throw you a few curve balls, so remember to build in some elasticity so you can roll with the punches as you move forward with your concept.
Pre-selling will cement your commitment to creating the product and ensures you’re making something your target audience will want to buy. See how many bites you get with a simple sales page and start promoting the concept to your audience. You can tweak your plan based on the reaction and feedback you get from this stage and move the direction of your product’s concept accordingly.
If you’re satisfied with the pre-sale and have reached your goal, it’s time for the fun part: creating your product. Remember that you can work with others to accomplish this part if you need to. Collaborating can save you some time but could cost you more. If you have the skill set to create it yourself, you’ll probably save money at the expense of your time. However you choose to complete it, your end goal should be a finished, quality digital product that’s well-researched and desirable.
Now that your product is finished, it’s time to release it into the world. Before launch, create an official sales page that better reflects the final product rather than the barebones plan from the pre-sell. At this point, you should also have a thank you page and an email sequence that automatically follows up with the customer after they’ve purchased your product. It’s crucial that you don’t skip this step; fostering a good relationship with new customers who see value in your business is key to creating trust, and trust is what creates repeat buyers.
Creating a digital product allows you to turn your ideas into a business with virtually no overhead. While it could be a daunting task for some, the value you create for yourself and your audience will pay dividends throughout the life of your business.
Don’t let a competitive market deter you from making your digital product idea. If you’ve done your research and taken the time to iron out all the details, you’re bound to synthesize something well worth the effort – both for you and your industry.
And if you need help with creating your digital products, we’re always here to help, contact us today.
