How to Create and Sell Digital Products
Digital products are a smart way to share and consume new information. They come in many different formats and are ideal for business owners who want to consider a new revenue stream or widen their existing audience. These intangible assets or media can be sold and distributed online without physical inventory at a storefront or warehouse.
The hardest thing for most people to overcome when creating digital products to sell is finding time to do it. Of course, there is work involved in creating a digital product, but the idea is that you're creating something once that you can sell many times.
So, where do you get started in developing a digital product? It's really no different than creating a plan to sell physical products; however, there are some unique points to consider. We break it down here for you:
- Brainstorm potential topics: Think of your customer base and the kind of challenges they face. What type of digital product can you create to help them overcome their challenges?
- Decide on a product type: Will your digital product be an ebook, video, live training, mp3, or a mixture? Choosing an option will depend on how in-depth you need to be and your skill set in creating the digital product. And if you aren't well versed in creating digital assets, lean into the resources that can help!
- Plan out the product: Now, it's time to create a plan for the digital product. You don't need to write a more than 1-2 page plan - basically an overview of what you are going to create, how you will make it, where it'll be sold and who to sell to. What is the desired outcome, and how will they help someone achieve it? What steps need to occur, and in what order?
- Collect Pre-orders: This step ensures you will only create something your target market wants. Use the details from the planning to create a simple sales page and promote this to your audience. Offer a 50% discount for the first 50 buyers. Or a deal for your existing audience to reward their loyalty, get feedback, and drive pre-launch sales.
- Create: Assuming the pre-sale goal was reached, it's time to start creating! The steps here will depend on the product type and your skillset, but the ultimate goal is to have the finished digital product made and ready to go. This is where you might need help from other resources if your skillset is lacking.
- Launch: The product is ready to sell, so it's time to launch. At this point, it's time to create a sales page, thank you page, and email sequence to follow up on the sale.
You can add a new revenue stream with your digital product with creativity and a small upfront investment. All types of digital products can be profitable, and the best part is that there is no need for physical inventory or overhead costs. As always, we're here to help! Fill out the form and we'll help you learn more about digital assets.