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If you’re looking for a solid business to launch in the new year as an online entrepreneur, you might want to consider becoming a digital information product creator.
Years ago, when you wanted to learn something, you pretty much had two choices:
- take a class or two about it
- read a book about it
Now? We have 24/7 access to infinite amounts of knowledge, ready to be instantly downloaded to our devices and consumed.
Digital info products are in high demand, selling at a higher price point than books you can find online or in a bookstore. Being digital means you can recruit affiliates who promote your products for you and beef up your bottom line.
a lucrative business model?
So just how much money can be made from selling a digital info product?
Well, you’ll need to take some steps to make sure your launch is a success. You can’t expect to make a lot of money if you:
- are unknown
- fail to network
- don’t have a list or decent social media following
Going through a well thought plan for product creation and launch can net you a booming profit in just a few days. It is possible (as others have proved) that a successful launch can net you thousands in just a few days. Some bring in as much as seven figures in less than a week!
Your brand is going to need multiple products and that’s what you should focus on. Yes, you can create a single product and sell it, but then what?
- Do you have anything for an upsell?
- Do you have a complementary product?
- How are you going to keep people coming back?
You need to plan on developing a series of products that encourage people to return to your products for the solutions they’re looking for.
Having more than one product available will help sales build upon themselves.
Example: product #1 is how to create your niche blog.
The follow-up? Product #2, which is about SEO (search engine optimization) and increasing your blog’s rank and favorability to search engines.
Even better? Product #3 is about monetizing that blog through affiliate marketing.
Here’s the thing: let’s say a customer only discovers you through Product 3. Well, yes. They are interested in affiliate marketing, but they don’t know how to start a blog or how to prep the blog to be found in searches.
Guess what? They just searched your digital shop and bought Product 1 and Product 2.
Backlist = Boosted Revenue
Your backlist of existing digital info products is there to help boost your revenue in other ways.
- use it as a bonus whenever you promote someone else’s product
- package them up and offer a bundled discount for a special occasion (your birthday or a major holiday)
- Offer a discount on complementary products (ex: if you buy Product 3, you get a discount on Product 2)
- quietly create an info product
- list it for sale under the radar
- expect it to succeed
You have to be willing to put yourself out there and build a buzz for your launch that helps you increase earnings substantially.
choosing your product's topic
Choosing the topic for your product can be a daunting experience.
Many procrastinate and delay launching because every idea they come up with just feels wrong. They worry about the fact that the competition has already done something similar.
Room for everyone
Think about this: next time you’re in a grocery store, find the bread aisle. There are dozens of brands. Each brand has their own white, wheat, rye, oat.. you name it.
Do you get it? THERE IS ROOM FOR YOU!
I’m sure you learned in school that not everyone learns the same:
- Some learn better by reading.
- Some need visuals.
- Some need audio.
The point? Consumers like to have a variety of styles to learn from. Your insight and ability to lead your audience will be completely different from someone else.
Do you already have your niche topic? Here are your next steps:
- Do some research: what are the top problem areas for that audience?
- Create a broad digital info product that covers everything as a whole.
If you do this, you won’t be able to go in depth with each subtopic, but that’s okay.
You take that broad overview of the topic with tips in it, then follow up with a series on in-depth, targeted info products on subtopics that go more into the nitty gritty details.
Example: your info product is Internet Marketing for Newbies. This is a broad overview teaching them what it means to be an online marketer, and what opportunities are available to them. Right?
So what could your follow-up be? Individual products that focus and go in-depth about the topics you discuss in the course.
- Was there something you could explain in more detail?
- Did any of your students have additional questions on a section?
- Is there a common concern that keeps popping up in your community?
What is already being sold?
It’s time to do a little research to find out what will sell well and what problems your ideal customers need you to solve.
Here’s what you do:
Step 1: Marketplaces
Take a look at your niche’s marketplace. What is already being sold and selling well?
Example: a niche like weight loss, you may notice a trend for one certain type of diet plan that you can start with.
Step 3: Keywords
Use a keyword tool to find out what your target audience is typing in to search engines to find information about.
This will help you compile:
- a list of product ideas for your series
- the outline for each individual product that you will be creating
As you conduct your research, take notes of the comments from buyers or prospective consumers who have felt that something was lacking in the products currently in the marketplace. Make sure your product addresses those needs!
Take it a step further: add what’s in your notes to the features/benefits sections (in bulletpoints) on your sales page. It will let your audience know you have the perfect results-oriented product for them.
I added my Notes Pages Bundle at the bottom of this post to help you complete this.
media formats that Sell Well
You have the idea. You have the outline. What now?
It’s time to create it.
Decide the Format
Decide what media format you want to deliver to your audience.
The two main types:
Yes, you will have customers who complain about the format.
Some hate to read. Others hate to watch video.
There’s no way to please everyone unless you’re planning on offering a hybrid product.
What are hybrid info products? Products with video modules that are paired with a text transcript (usually a PDF download). Hybrids have something for everyone. It is usually a time consuming process, so you will have to factor that in when planning your launch calendar.
TIP: to save yourself some time, come up with your transcript first, then simply read from it for the video.
TIP: Base your decision (text vs video) on what you are most comfortable with. You might be a fantastic writer, but struggle with technology so video isn’t an option.
Lucky for you: both media formats can be learned and improved upon as you take more time to learn about them. Until then, pick the format that you click with most.
Outsourcing allows you to polish up anything that appears to be substandard in your eyes.
- You can outsource your eBook’s proofreading to an editor
- Hire someone to create the intro/outro for your videos, so you can concentrate on getting the audio exactly how you want it.
Video & Feedback
There are tools that will help you lay an audio file over a video and merge the two.
Note: I cannot personally vouch for either of these programs, so download at your own risk. These are the two I see mentioned a lot, so I am recommending them. Please do your own research.
- Make sure that you check files for quality control once they are complete.
- Enlist the help of some consumers and give them a free review copy in exchange for honest feedback.
Poll the customers about:
- what they liked
- things they didn’t like
- anything that could be improved upon
What will these things help with?
- You’ll can changes and edit your product before it goes live.
- Ensuring you release a quality product for your brand
- Keeps you from churning out low-quality drivel that will negatively affect future sales and your brand as a whole
pick a platform & Start Earning
Where do you want to list your products?
Yes, anyplace they will be seen is a legit answer, but there are many options available and each might have their own audience.
- digital marketplace with many different niches
- affiliates sign up and find items to promote to their target audience
- resources to help you promote
- digital marketplace with products in a variety of niches
- easy to use system
- products are business-focused
- knowledge bank to walk you through it all
If you don’t want to use any of these platforms, you can also choose something like Udemy, which is built for courses.
Pros of Using the mentioned platforms
- All of these options allow you to have a built in affiliate program, which will allow you to recruit fans of your product and to promote them. The system pays them, so you don’t have to worry about doling out commissions yourself.
- Being listed on one of these sites gives you the ability to gain more attention. Why? They use “top ranking” pages where you can see the bestsellers in a topic/niche.
- Being on one of those lists makes consumers want to own your products and makes affiliates want to promote them. Why? They’re winning products, whose traffic means an increased chance of a sale (and commission for them).
- You have potential to be listed on their affiliate launch calendar.
An Alternate Choice
Yes, these options are nice for the added exposure, they’re not your ONLY choice.
You can also install a product such as AMember and launch the product through your own site, with your own built in affiliate system.
This may help you cut down on some fees you have to pay, even though they are usually taken out of each sale rather than something that has to be paid separately.
If you choose to simply put up a buy button through PayPal, without any sort of affiliate system, you will be unable to recruit people to promote for you.
Increase Launch Revenue
You want to earn the most amount of money possible whenever you launch, right?
There are strategic ways you can maximize your launch’s revenue.
Don’t stop with a single product per launch.
You want to have a complete funnel in place that:
- satisfies the consumer’s desire to get several good deals
- meets an affiliate’s requirement/ability to earn enough money by promoting
If you only have a front end product for $9.95, most affiliates will pass up the opportunity to promote that 50% offer of commissions because it’s just not enough to make it worth it to them.
So what makes it worth it? This:
If you have several upgrade options (higher priced products from $27 – $97), you will have a better chance of recruiting top affiliates.
TIP: make sure that your upgrades are complementary to the front end product, without making it appear as if they must own it in order for the front end to work. This is a common frustration for many consumers of digital info products.
Customers don’t appreciate vendors who insinuate that the product they just purchased is worthless unless they buy those upgrades.
YES: “Oh hey, did you LOVE those coloring pages you just purchased? Here’s another bundle of similar coloring pages at a discounted rate.”
NO: “Oh hey, did you LOVE those coloring pages you just purchased? Well, they only work with these special markers so you’d better buy them or the bundle you just purchased is worthless.”
Get the picture? Fabulous! Let’s keep going..
With a bit of research, you can suss out the competition among affiliates in your niche.
Approach each one with:
- a personalized message
- a link to your JV (joint venture) page
- complimentary review copy for them to examine in exchange for a review
In most cases, digital product sellers sell products with a personal use license only. This means only the buyers can consume the content (read, watch, absorb, learn) in the course. They cannot share or pass them on to other people or claim them as their own, but there is a chance to increase revenue by offering additional rights.
In some cases, you will see a product with two options on the sales page.
- personal use license
- private label rights (aka PLR – usually more expensive)
Having PLR rights means the product is yours now.
Always check the terms of each PLR vendor, but you will typically be able to:
- edit and alter the course
- put your name on it as the author
- resell it
You won’t be able to sell it to others with PLR, but you can sell it to customers as personal use only. MRR (Master Resell Rights) products typically gives you permission to sell products as PLR. Again, check the brand’s terms and conditions.
PLR is a HUGE timesaver! If you like my Facebook Page, you will be privy to some incredible PLR that you can edit and resell.
Earning money as a digital info product creator is rewarding when you take the necessary steps to release a top quality product that appeals to both:
You will be building a list of buyers that you can cater to for years to come as you:
- branch out and release additional info products
- promoting your competitors who release those of their own