Ready to create your first digital product?
Awesome — I’m here to help you!
I decided to delve into digital products to create new income streams and receive cash in my sleep. So far, I’m having a lot of fun and I’ve come up with ideas for a bunch more products. Score!
Your untapped knowledge is your new cash cow. I bet you have skills you can teach someone else, even if you’re not an expert.
A teacher is a few steps ahead of the student, meaning they’ve walked the walk and have a way to spread their knowledge.
Digital products showcase your knowledge and skills and are an easy way to market yourself. These products can bring you income for the rest of your life, while also building your audience, brand, and reach.
Let’s get started!
Tip #1 — Set a deadline for yourself
First things first!
Set a deadline for yourself. Yes, I know it’s simple but the payoff will be huge.
If you don’t set a deadline, guess what? You’ll never create your product.
Even if you have to move your deadline, mark it in your calendar (and your brain).
Keeping a promise to yourself will light a fire under your butt. Once I decided I was going to complete my first product no matter what, I worked on it every day until it was done. The total time to complete it was about three weeks!
Your brain likes and needs limits and you’ll work more efficiently if you set a deadline and stick to it. Plus, you’ll have a date to use for your marketing and networking.
Make this your first priority and watch how quickly you finish!
Tip #2 — Work on your digital product for at least 30 minutes a day
There’s a lot to do when you launch a product — here’s a quick list:
- get it made/created
- choose a selling platform & set up payment info
- create a selling page with your product details, price, and delivery method
- create your marketing plan/schedule
- write up your marketing copy and decide your sharing platforms
- create email blasts for the launch
- do edits/changes/additions
- price your product
- share your product with the world
- and so much more!
Setting aside at least 30 minutes to create your product will help you stay on track for your deadline and leave overwhelm at the door. Because there is so much to do (depending on what your product is!), you’ll want to break it down into chunks.
When you work for 30 minutes a day, that’s 3.5 hours a week! You can get a lot done in 3.5 hours! (This is the power of compounding right before your eyes!).
And bonus! You can always keep going if you get in a flow. But knowing you’ll invest 30 minutes a day in a future income stream will help you get it up and running quickly.
Tip #3 — Price your digital product with fees in mind
My first product is a manifesting journal selling for $27 (details below if you want a copy!).
But I don’t make $27 on each purchase — I make around $22-$23 depending on fees.
Now, don’t get upset by fees because you can take all those as business expenses on your taxes, which helps.
But knowing how much you’ll actually take away will inform how to price your product. It also depends on the selling platform you use and what forms of payment you set up. (PayPal costs me more than credit card purchases, but I get the PayPal money immediately).
Price your digital product with fees in mind!
Tip #4 — Cross-promote yourself
Having a digital product means you can do some self-cross-promotion – cool!
Add your website, socials, portfolio, or a free gift to your product. Add any affiliate links so people who purchase years down the line can help your other income streams thrive.
Then, add your product link to your website, socials, and your portfolio. Add it to your email signature, to the end of your blogs, and to all your outgoing email blasts going forward.
This builds momentum because as your audience grows, you have everything set up to pique their interests and get them interested in buying from you.
Tip #5 — Overdeliver
Your reputation is everything.
You have the opportunity to wow anyone who buys your digital product by overdelivering.
What does that mean? It means adding the most value for the price.
For example, my journal is something people physically use for 60 days because of the reflection pages (and for longer if they wish!). The concepts and lessons in the journal will help them for the rest of their lives. Then, there’s the content itself, which is 50 pages of information, resources, tips, teachings, and techniques plus all the journal pages and check-in pages.
People get all that for $27. The value of the information in the journal is priceless because after buyers learn it, it will inform them forever.
Check in with yourself about the value your product offers and how much people would be willing to pay for it (taking those fees into consideration!).
Here’s another point to keep in mind: the more you overdeliver and offer value, the more likely the buyer will remember you and want to buy from you again.
You’ll have a built-in audience for your second (and third and fourth) product because your first one offered value, solved problems, and made the buyer’s life easier.
Now it’s your turn!
If you’ve been dreaming of creating your first digital product, START TODAY!
Make a list of everything you know how to do and could teach to someone else.
Reduce that list to five products/ideas and start with those.
Choose one you feel really drawn to or excited about and set a deadline to complete it.
Make a list of every action you must take to get your product created and launched.
Going forward, work on your product for at least 30 minutes a day and notice how much you get done in the first week!
What did you learn? I’d love to know in the comments!