Ah, the sweet scent of burnt cash and time…
That’s the perfume I wore, tear-streaked and mascara-smudged, post my inaugural digital product launch.
Feeling like a dropped soufflé, I vowed never to let this kitchen disaster happen again.
Happily skipping down the proverbial yellow brick road, I’d believed every claim that this digital wizardry was my golden ticket to the emerald city of financial freedom.
Gradually, as the clouds of disillusionment parted, I realized I had a solid gold idea. Yet, there was a universe beyond the glitzy promise of immediate wealth to consider before launching a digital product.
This post is my time machine, whizzing back to give a reality check to my starry-eyed self.
This is the insider’s guide to what I wish I’d known before creating my first digital product.
#1 Deliver a Product that Promises More than Pennies
The digital world is littered with products boasting dollar signs because some previous tycoon-in-the-making did just that.
But here’s the thing: context is king. Every digital entrepreneur starts from a unique place and implements it differently.
People want the treasure chest, not just the map. So, let your next digital product focus on the enriching experience and tangible results of its implementation.
#2 The Magic of Irresistible Bonuses
A nugget of wisdom I gleaned from a digital Dumbledore:
Remember to sprinkle some irresistible bonus magic when crafting your digital products. This could tip the scales for those deciding whether to part with their precious gold coins.
In other words, your bonus must be so tantalizing they’d happily hand over their treasure chest for it alone.
Rather than dusting off a collection of old products as bonuses, bestow a bonus that sets the fast track to implementation. Your outcome-led product should be served with a side of efficiency.
Take this, for example: If your product offers an elixir for writing compelling sales copy, offer a templatized sales page as a bonus, showing exactly where to sprinkle their enchanting words.
#3 Begin With a Bite-Sized Delight: A Snackable Intro Offer
If you’re just setting foot in the colossal buffet of digital products, avoid gorging on a full-course offering. Instead, whet your client’s appetite with something more bite-sized, a little amuse-bouche, in the form of a Snackable Intro Offer (SIO).
Before we dig in, how about a side order of wisdom? I’ve whipped up a tasty lead magnet, ‘The Launch With Ease Checklist,’ that’ll provide the perfect seasoning to your SIO crafting process. So, before you forget, let’s pause for a flavor-filled intermission. Go ahead and download the checklist for a deeper dive into preparing for your Snackable Intro Offer. Now, where were we?
Think of the Snackable Intro Offer as an appetizer. It’s a tempting little morsel that serves up a specific, tangible solution to a particular problem your customers are grappling with. It’s priced just right, making it an irresistible impulse buy for those new to your buffet line (usually between $97 to $297, but we’ll talk numbers later).
Starting small with a Snackable Intro Offer allows you to dip your chef’s hat into the realm of your expertise, experiment with your audience’s taste buds, and fine-tune your business recipe. It’s like crafting the perfect canapé before attempting the main course. And the best part? Once you’ve nailed the perfect SIO, you can build upon it, scaling your offerings and prices as your business grows.
A well-cooked Snackable Intro Offer does more than satisfy your customer’s immediate hunger. It:
1. Whispers directly into your customer’s ear, assuring them you’re the one with the perfect recipe to solve their problem or help achieve their desired outcome.
2. Delivers a burst of flavors, providing outstanding results for your customers, worth every penny they spend.
3. Sows the seeds for your business to grow into a full-fledged, bustling kitchen capable of churning out a variety of delicious offerings.
4. Delivers massive value, turning satisfied customers into loyal foodies, always eager for your next dish.
Sounds like a fairytale? Well, dear reader, buckle up because this isn’t make-believe. It’s the real deal.
#4 Your Product has Doppelgängers
Flashback to the Facebook group challenge (referenced in a previous post). I played show-and-tell with my digital product. Lo and behold, another participant performed a magical U-turn and launched something suspiciously similar.
Adding insult to injury, she beat me to the punch by a week. My product, the lone wolf talking about website security, suddenly had an uninvited sibling.
In a rage, I fumbled what was actually a golden goose. Her product launch before mine was the market research I hadn’t known I needed. It highlighted a demand for my product, allowed me to study and reposition it, and see what elements I could add to over-deliver.
I don’t see a similar product as a threat but an opportunity. Use it as market research to position your digital product uniquely.
#5 Beta and Freebies? Just Say No.
Running a business isn’t a charity; last I checked, bills don’t get paid with good intentions.
Labeling your offering as a “Free beta” undermines your knowledge.
I’ve seen clients who’ve launched beta offers or given away products for free, only to find the recipients still need to open the course, let alone provide feedback.
Avoid the beta bait. Forego the freebie. Launch and sell your digital product.
“#6 The Art of Decluttering Your Toolbox
Once upon a time, my digital toolbox resembled the cluttered basement of a handyman with a tool obsession – you could find every kind of tool, software, and gimmick you could possibly imagine. I was jumping from one app to another, spending hours piecing together multiple tools, much like a mismatched jigsaw puzzle.
Here’s the laughable part: the price tag for this chaotic array was enough to make a grown man weep. It was like burning my hard-earned money in a bonfire of chaotic complexity.
But, as in any great story, a hero emerged. The knight in shining armor that swooped in to save my sanity and bank balance was an all-in-one tool called FG Funnels. It’s like having a Swiss Army knife for digital product creation and marketing – it does everything.
For over two years, I’ve been using FG Funnels, and let me tell you – it’s been nothing short of a revelation. It’s consolidated my work, replaced my need for a gazillion different tools, and significantly trimmed my monthly expenses.
Let’s talk numbers because who doesn’t love a juicy savings story? I now spend a flat $997 per year and an extra $20 per month for up to 5,000 emails (Yes, 5000 emails per month. I can also have as many subscribers as my heart desires without having to pay extra).
A neat, consolidated tool replacing a jumble of apps, cutting costs, and offering seamless service – that’s FG Funnels for you. FG Funnels would bag the trophy if there were a “Best Financial Decision” award in my business history. So, dear reader, let’s toast to decluttering, smart spending, and smoother operations.