Are you intrigued by the idea of making a significant income by selling a digital product? It may seem daunting at first, especially if you're not well-versed in email marketing or complicated technology. However, I'm here to tell you that it's entirely possible to achieve this goal without any of those complexities. In this blog post, I will provide you with a simple set of instructions that anyone can follow to make $2,500 per month selling a digital product.
1. Start with the offer
The key to success in selling a digital product lies in the quality of your offer. I recommend using Hormozi's value equation as a guide:
- Outcome: Clearly define the desired outcome that your product will help customers achieve.
- Times likelihood: Determine the likelihood of customers achieving the desired outcome.
- Divided by time delay: Take into account the time it will take for customers to see results.
- Multiplied by effort & sacrifice: Consider the effort and sacrifice that customers will need to make to achieve the desired outcome.
By carefully thinking through each component of the value equation, you can create an offer that truly resonates with your target audience. Take the time to write out everything to get a clear picture of your offer before moving on to the next step.
2. Build your ebook mockup
Once you have a solid offer in place, it's time to create a visual representation of your product. Canva is an excellent tool for building an eye-catching ebook mockup. It offers numerous free elements, including ebook templates that you can use. With Canva, you can easily convert your design into a mockup that will entice potential customers.
Remember, simplicity is key. Make sure your ebook mockup accurately reflects the content of your digital product and is visually appealing to your target audience.
3. Build your landing page
To effectively sell your digital product, you need a well-designed landing page that clearly communicates its value to potential customers. I recommend using Carrd, a free platform that enables you to create landing pages with ease. When building your landing page, keep it clear, concise, and compelling. Use persuasive copywriting techniques to convince visitors that your digital product is a must-have.
4. Put your book up for sale
Now that you have your offer, ebook mockup, and landing page ready, it's time to put your digital product up for sale. Gumroad is a popular platform for selling digital products, and although it takes a cut of your sales, it's worth it, especially in the beginning.
Here's what you need to do on Gumroad:
- Add a digital product: Upload your ebook and any supplementary content.
- Upload all of your content: Ensure that all the necessary files are added and organized properly.
- Link checkout to the sales page: Connect your landing page to the Gumroad checkout process to facilitate seamless transactions.
With Gumroad, you can easily manage your sales and track your revenue.
5. Drive traffic via plugs
To generate sales for your digital product, it's crucial to drive targeted traffic to your landing page. Solid marketing targets the right people at the right time with the right offer. One effective strategy is to use "auto-plugs" that automatically promote your ebook whenever a related piece of content becomes popular. This call-to-action will spark interest and drive potential customers to your landing page, increasing the chances of conversions.
6. Bolster sales with social proof
Social proof is a powerful tool for increasing sales. With Gumroad, you can collect social proof easily. Set up a workflow automation to send a testimonial request after a customer makes a purchase. By gathering positive reviews and testimonials, you can showcase the value and credibility of your digital product to potential customers.
Consider offering a bonus gift to customers who leave a testimonial. This extra incentive can help increase conversions and further enhance the perceived value of your offer.
Refine and maximize your sales
Now that you have the basic framework in place, it's time to refine and maximize your sales. Consider implementing the following strategies:
- Add "bump" purchases: Offer additional complementary products or upgrades during the checkout process to increase the average order value.
- Add video content in the ebook: Enhance the overall value of your digital product by including informative and engaging video content.
- Give pricing options (decoy pricing): Present different pricing options that highlight the value of your offer and encourage customers to choose a higher-priced option.
Remember, this bare-bones execution shows you the fundamental steps to sell a digital product successfully. When it comes to pricing, it's generally recommended not to exceed $99. However, you can experiment with different price points to find the optimal balance between profitability and customer appeal.
For instance, if you can sell:
- 50 copies at $50 each
- 100 copies at $25 each
- 250 copies at $10 each
You would make $2,500 per month.
It's important to note that the more substantial your offer is, the higher the chances of selling at a higher price point.
Now that you have a step-by-step guide on how to make $2,500 per month selling a digital product, it's time to put these strategies into action. Remember, success in this endeavor requires dedication, strategic thinking, and continuous improvement. With the right approach and a quality digital product, you can achieve your financial goals and build a thriving personal brand as a creator.