Well, that was a colossal waste of time and money….
That’s what I said to myself with tears after launching my first digital product.
I felt hopeless and never wanted to go through this ever again.
I followed the crowd and bought into the claims that this was my ticket to financial freedom.
Over time, I realized that I had a great product idea, and beyond the overnight road to financial freedom, there was so much more to consider before launching a digital product.
This post is me wishing someone had kept it real with me.
This post is what I wish I knew before creating my first digital product.
#1 Create an outcome-led product.
I am not a big fan of digital products that promise to make a dollar figure because a previous student accomplished that.
Those claims lack context, everyone starts at a different stage, and everyone implements differently.
People buy results, so in brainstorming your next digital product, focus on the experience and the results people will get when they implement.
#2 Create Irresistible Bonuses
Something I learned from a seasoned course creator.
In creating your digital products, people can decide to buy to get their hands on an irresistible bonus.
The point is that your bonus has to be so good that people will buy it in a heartbeat if you sold it by itself.
It is better to have an irresistible bonus that helps the person implement faster than to have a bunch of extras that are a collection of your old digital products.
You’re creating an outcome-led product, so give people a bonus that will fast track their implementation.
For instance, if your digital product’s outcome is to show people how to write copy for their sales page, a great bonus can be a templatized sales page that shows them exactly where to add each section of their copy.
#3 Don’t make your first digital product a signature offer or modulated course
If you’re new to digital products, a signature offer or modulated course as your first product can leave you frustrated, exhausted, and broke, especially if you do not have a team helping you.
Let’s be clear, you will not hit multiple 6-figures with a $37 product, but a $37 product is easier and faster to create.
A $37 product doesn’t take weeks to create, and if you over-deliver, people are more likely to become repeat customers.
#4 People will launch similar products at the same time you’re launching yours
Remember the Facebook group challenge I talked about in (name of previous blog here)?
When I shared my digital product in the group, someone suddenly changed their mind and launched something similar.
Worse, she launched one week before I did. It was awkward because my offer was about website security; I was the only one talking about website security throughout the entire challenge, then poof, she decided to forego her previous idea, to create something similar.
My mistake was to get mad that she was launching a similar product. Knowing what I know now, that was a golden opportunity, YES, a golden opportunity.
Her launching before me meant:
- There was a demand for my digital product.
- I could study her sales page to position my product differently.
- I could look at her package to see what is missing to over-deliver with mine.
In other words, she was market research, but I was too upset to see that her change of mind was a blessing in disguise.
There will always be someone offering something similar to yours. Do not let that distract you. Instead, use that as market research to position your digital product differently.
#5 Do not create a Beta offer and give it away free
You’re running a business, and you got bills to pay.
The word “beta” devalues your knowledge and says that this is something you’re trying, and you’re not sure it will help people solve a problem.
I’ve worked with clients who created a beta offer or gave it away for free, and the person didn’t even access the course, let alone provide any feedback.
Skip Beta, skip free, launch and sell your digital product.
#6 Count the cost
Give up the idea of free software, free anything, free YouTube, or free anything when creating a digital product.
There are cheaper options but expect some upfront course to deliver your digital product.
You do not have to go big with software when creating your first digital product, and that’s where I see many people incur huge monthly expenses before making their first sale.
I am a huge fan of one-time payments or lifetime access to software. That’s an ideal situation if you’re just starting. I also buy a lot of my business software and tools around Black Friday. I make a list, and I wait for the magic day.
Research the tools you’ll need, make sure you count the cost and make sure you can sustain that expense monthly.
Here are some of the tools that I use:
Blue yeti microphone (amazon link)
Diva ring light
Samsung Note 20 Ultra (the camera on that phone is excellent)
Screenflow
G-Suite
Creative Market (they have great templates, fonts, and even ebook templates)
Flodesk (Ideal if you have less than 1000 subscribers on your email list)
The sooner you know what you will need to create your digital product, the easier it will be to plan your budget and not go into debt.
Launching for me was an emotional roller coaster, and I wish someone had shared with me what I’ve shared with you today.
I still have tools that I spent a lot of money on. But, had I known what I am sharing with you today, I would never buy those tools. Some of those tools are even obsolete now.
It is tempting when someone tells you they’ve had a successful launch to run and purchase the same tools that they are using.
But, remember, this is not where they started, and you shouldn’t start there either.
Start where you are.
Launch your tiny product and start growing your business. Then, you will have plenty of time to get fancy later.
