Digital products include e-books, guides, online courses, audio products, downloadable templates and software - to name just a few, and are increasingly attractive because of their low creation costs with your primary investment being your time and expertise in creating products that can be scaled.
By now, you've probably seen how many entrepreneurs are creating extremely profitable businesses for themselves through a foundation of high-margin digital products.
Whatever your skill set, you need to think of ways you can package your services and what you know into digital products that you can leverage in obtaining more leads and sales for your business as well as create alternative income channels for your online business.
Whether it be through your blog or “opt-in give-aways”, this is your ultimate marketing tool in helping your website sell more. In Secrets of Website Conversions Revealed, people don’t care about you or your business, other than what’s in it for them. The more value you can give them, the more likely they’ll buy from you without you having to do a sales-pitch.
The premise is that by giving away free high-value content, you build credibility and trust in the products you charge for. View it as a taster of what you charge for but think high-value, easy to consume, easy to implement and results orientated. This is what people want - instant gratification - they don't want long, laborious, energy consuming processes and sales pitches that are going to require effort in getting what they want. This is a powerful marketing strategy to implement.
According to Statista.com: "With digital buyer penetration expected to surpass 65 percent of internet users worldwide in 2021, the e-commerce industry is set to evolve and expand."
Turn what you know into digital products. Writing, video and audio are the way to go. Whether it's an e-book, video course or audio series, you can digitize (and monetize) what you know and offer your audience options. In my resourcing business I have a number of free guides on interview coaching, I converted my interview coaching program into an e-book and then offer one-on-one coaching - this way, there are three options available to anyone looking for interview coaching, each with different premiums and value, depending on what they're after and what they can afford.
So, think about what your Perfect Client would want or need right now - what is a pain point that you can solve immediately, and turn that into a digital product in a format that is easy for them to consume? Give them a taster by means of a lead magnet and then promote your offer by taking them through a conversion journey that leads to a sale promotion of your product.
The beauty of selling digital products on your site is that you don't even have to create them yourself. You can promote products of other people and organisations who complement your product or service offering. This is why affiliate-marketing and email marketing, when done correctly, are so successful.
Giving your website traffic access to high-value products that have already been designed, tested, result proven, pre-packaged and that solves a need, means that you don't need to spend your precious resources in reinventing products that are already available.
There are zero costs associated with becoming an affiliate and by offering high-value products to your audience, you build more credibility.
The real opportunity that digital products offer, because you don't have to recreate products, is that you create more time to do the other important things you need to get to. Once you've automated your sales process, and learnt how to market your digital products, you have the freedom to choose what you do with your time - and that my friends, is freedom!
