Selling a Digital Product – A Guide
I’ve been experimenting with digital products recently. As many of you will already know I am always keen to find new ways to monetize my blogs and niche sites and there is certainly a strong argument for digital products being the most effective way to do so. I remember listening to an interview on Yaro Starak’s podcast with a guy who made $300,000 on a website about model trains, because he had made a guide and sold it on his site, which was getting huge amounts of organic traffic. This is a business model that certainly can work extremely well and you might not need a high percentage of your viewers to buy something for it to make you a nice chunk of money. So what are my tips for selling a digital product?
Make it QUALITY and UNIQUE
This is oh so important but unfortunately some people completely bypass this crucial step. When you’re creating your product you need to make sure it isn’t slapdash and that it offers real value, the same set of morals you should have when it comes to building any blogs or niche websites too. If your product isn’t good enough then you’re not going to succeed, it is as simple as that. It doesn’t matter what you make, a video course, an eBook, a set of instructional audio clips, anything, just so long as it helps and does what you’ve advertised.
Find your pricing point
This is a tough one, people are becoming more accepting of digital products in the 21st century, which has been aided by the introduction of the tablet and the kindle. In fact a lot of the books and other forms of media consumed are consumed digitally, which is great for the independent publisher or content producer, but it can also mean that finding how much people are willing to pay is tough. It depends a lot on how specialist the knowledge you are imparting is, and what the competition is selling its products for. I have bought digital products for $100 and for $1, and been happy with both. You need to pay close attention to what others are doing and decide just how valuable your product is.
Sell to an existing audience
You don’t have to do this, but it definitely will make your path a lot easier. What I mean by selling a digital product to an already existing audience is that you should create a product to market to traffic you already have coming to a website or other online presence rather than simply creating a product and then trying to build an audience. If you already run a site about dogs, make your dog training guide and stick it online, don’t make the product first and then try to market it, the road will be a lot longer.
Let other people sell it for you
Affiliate schemes are an amazing way for you to sell your products. People like Clickbank will let you sell your digital product on their marketplace, which means that not only will you get eyeballs looking at your product on there, people will be able to sell it on their own websites for a percentage. You’ll cut into your profit margin but you will be getting sales you never would have otherwise.