A digital product is anything that can be saved on a computer, smartphone, or tablet but that you don’t have in your hands.
An information product, on the other hand, is one that focuses on supplying information. This can be in the form of a book, a podcast, or a course.
A digital informational product, such as this eBook, that fits both of these criteria is referred to as a digital informational product. An eBook is educational in the sense that it instructs you, and it is digital in the sense that it is simply a file on your computer.
Creating and selling a digital product is one of the most popular and effective business strategies currently available. This is due to the fact that it has a high return on investment and is quite adaptable.
When you create and sell a digital product, you’re giving away value in the form of information. This is what allows you to charge a fair price for your goods while yet making it appealing to your target market.
A digital product has a very little overhead. You may have to outsource or hire someone to produce your product at first, but once that’s done, you’ll be able to sell as many copies as you want without having to spend any money. There are no storage costs, no delivery fees, and no materials to purchase.
This is known as ‘COGS,’ or ‘Cost Of Goods Sold,’ in the corporate world.
A digital product with a high value and cheap overhead can produce a profit of nearly 100% on each transaction. It’s also extremely adaptable and simple to produce and market. You don’t have to find a manufacturer, raise money, or learn how to code… Anyone who knows how to write on a Word processor can use this option.
What Are ‘Information Products’ Advantages?
So, how do you plan to transform this into a profitable business model? The movie ‘Double Your Dating’ is a great example of this (www.doubleyourdating.com).
This is a website where you may purchase a variety of training materials on how to attract and meet ladies.
Customers who decide they want more information and buy the books pay the company’s owners a small fee for running and promoting the website. This works because the products on offer have a strong ‘value proposition,’ which means they solve a clear and straightforward problem while also promising to make a significant difference in customers’ lives. As a result, it will be much easier for you to grow in your job.
The niche (or subject) in this example is ‘dating,’ which is one of the most popular niches available. ‘Making money online’,’style,’ ‘weight loss,’ and’muscle building’ are other popular choices. Keep in mind, however, that eBooks are only one choice. A video series, an online course, a shorter report, or a variety of other information products can also be sold.
Your major focus will be on writing to a blog in order to attract traffic to your website. The more information you provide in the form of a blog, the more people will be able to locate your website through Google and will be more willing to share it on social media.
Adding material to a blog could help you gain the trust of your readers. People that love your website’s content will come back for more and believe what you have to say. Customers will be considerably more likely to acquire your stuff if they realise you have additional information behind a little pay wall.
That is the foundation for ‘content marketing,’ which we shall discuss further in the blogging blog.
Digital items, on the other hand, can be sold through a variety of additional ways. You can sell a digital goods on sites like Facebook, forums, and even Amazon (for Kindle). Another alternative is to pay someone to sell your products for you in exchange for a percentage of the revenues.
Creating Your First Information Product
When it comes to selling digital items, you have a variety of possibilities. Simply told, this is one of the most straightforward and straightforward methods for acquiring a product that you can then market and distribute.
How do you go about making one, though?
There are a lot of solutions accessible, but you may be able to create your digital product yourself in many circumstances. For example, if you want to sell an eBook, all you have to do is write a huge MSWord document, add graphics and proper formatting, and then export the finished product as a PDF. If you’re making a video series, you may just shoot yourself and edit the footage in Adobe Photoshop or another editing program.
Creating an email course is a lot simpler. All you have to do now is create some emails and set up an autoresponder to send them on your behalf. GetResponse is a fantastic option (www.getresponse.com).
The most important thing to remember is to create a digital product that exhibits your skills and makes you proud.
It’s crucial to create a digital product you’re happy of since you’ll be able to promote it far more readily if you do. When you talk about a product you genuinely believe in, your enthusiasm shines through, and others are considerably more inclined to believe in what you’re selling. Your marketing will be missing if you aren’t confident in the quality of your work, and you won’t be able to attract repeat consumers.
Designing something that plays to your strengths includes picking a topic about which you are knowledgeable and which is relevant to the theme or specialisation of your website, as well as making something that you are capable of producing. Consider publishing an eBook if you’re a good writer. If you’re not great at writing but have a strong camera presence, consider launching a video series. If you’re unable to perform either of these, consider taking screenshots of your computer or creating slideshows, then explaining them.
Another popular choice is to totally outsource your digital information product’s construction. On the internet, there are thousands of authors, video editors, and other skilled people who would be pleased to assist you.
Sites like ‘Fiverr’ (www.fiverr.com) and ‘UpWork’ (www.upwork.com) can help you find these freelancers . You should be able to locate someone with the abilities you require on any of these platforms, and it will cost you anywhere from $100 to $1,000, depending on the nature of the job and the level of quality you require (excellent writers will charge upwards of $3 per 100 words).
What should the price of your eBook be?
The second thing to think about is how much you want to charge once you’ve got your digital goods. Of course, you have complete control over this, but you don’t want to irritate or alienate your audience by overcharging them. A $7 brief report or a $17-27 full-length eBook are both recommended. (minimum 10,000 words)
On the internet, you may discover many examples of eBooks being offered for exorbitantly high prices, such as $50, $100, or even more. While this does happen from time to time, the books rarely provide good value for money, which can lead to tarnished reputations and irate clients in the long run. Similarly, selling a cheaper book will be more easier at initially until you’ve established a reputation as someone who can be trusted and offers high-quality content.
To gain a sense for the market, it’s a good idea to start modest. Don’t try to write the book that will put an end to all eBooks. Instead, start with a smaller item, such as a report, and sell it for $7. This allows you to start building your business model and collecting revenue quickly and easily without having to invest a lot of money or take on a lot of risk. You should only expand your business strategy to include a larger product at a higher price point if you’ve proven that this method works and is profitable.
Remember, there’s nothing stopping you from trying out different pricing points and running “split tests” to determine which one is the most profitable.
Creating a Sales Page/Landing Page
The creation of a landing page is one of the most significant tools in affiliate marketing. This is a single page, sometimes known as a ‘sales page,’ dedicated solely to the sale of your single product.
Because it contains no links to other parts of the site, no advertisements, and no distracting pictures, a sales page will stand out from the rest of the website. To put it another way, everything on the website is meant to help you sell copies of whatever it is you’re selling.
The majority of these websites are long and thin, with a lot of text and “purchase now” buttons. Those buy now buttons are your ‘call to action’ buttons, and they, of course, contain your newly obtained affiliate link.
The text is the true star of the landing page. The majority of your material will be devoted to encouraging customers to purchase the product, which is where you’ll make the most money. Your objective is to persuade as many people as can while remaining truthful about the thing you’re selling.
The easiest way to do this is to keep the word ‘value proposition’ in mind. This requires focusing on the product’s value to customers. What difference will it make in their lives once they’ve used it? Perhaps they’ll have more success with the other sex, or they’ll be significantly wealthy and happier. It’s up to you to persuade them to imagine and desire that potential. Simultaneously, you point out their current flaws in their circumstance, as well as why previous attempts to assist them have failed.
It’s possible that their attempts to improve their lives were in vain. In other words, you explain a problem and then offer a remedy in the form of an eBook or online course.
A WordPress theme called OptimizePress (http://optimizepress.com) is an easy and quick way to create a sales page.
You’ll be able to quickly market your products once you’ve developed this landing page. If you pay for advertising, for instance, all you have to do is make sure the ads are directing the right people to your sales page! You may also hand out pamphlets with the URL of your sales page or mention it in social media posts. If you’ve done a fantastic job crafting your sales script, you may expect a significant amount of visitors to convert — to become paying customers!
See you in the next post.
Frederick Empaga
Founder, digitalecommerce365.com
Partner, myonlinestartup.com
PS.
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