Posts By: LyleH
10 Steps To Creating a Profitable Digital Product
Many business owners and bloggers realize that creating their own digital product is the best way to leverage their website and help their customers. I wanted to walk you through the process of creating your own product. I will also list some suggested resources so you can have all the tools at your finger tips, even if you are on a budget!
How to create a digital product
1. Identify your ideal customer
The first step is knowing who your ideal customer is. You must be able to picture this person in your head. You should know them so well, you know what kinds of words they use when they are talking to their friends. Do some digging and learn as much as you can about your customer before developing any product.
2. Solve one problem or pain point
Every great product solves one problem. Your key to a good product is to know your customer so well that you know what keeps them up at night. Those are called ‘pain points.’ If you can find a problem that they would pay to solve, you have a winner. Start by asking, can I make something easier, faster or automated to solve this problem?
3. Decide the best way to deliver your product.
There are lots of ways to deliver a product. If you know your customer, you can develop something that fits their lifestyle. If they are busy, you may create audio training so they can take it on the go. If there is a lot of information, you may need to develop a book. You can even add worksheets, checklists and resource sheets. And of course, you can create a video training. You can use white boards, power point presentations, or many various ways to create an exciting product that talks directly to your ideal customer.
4. Create your product
Start with an outline. If you are not sure where to start, see what others have done by reading a table of contents in a book from your area of specialty. Once you have a strong outline, record or write each section one at a time. Spending just twenty minutes each day can help you create a great starter product in less than a month. Just do something to create your product each and every day.
5. Create a sales page
Let’s not get bogged down in the details. The easiest sales pages use the AIDA method which stands for Attention, Interest, Desire and Action. Get the attention of your customer. Create an interest in solving their one problem. Create a desire to want what you have to offer. Finally, tell them what action they need to take to get your product. It really is that simple.
6. Create a way for customers to buy
Now that you have a product, customers need to be able to purchase it. It can be as easy as creating a ‘buy now’ button on Paypal. Create the button and paste the code on your sales page below your call to action. When they purchase, they should be directed to your page where they can download your product.
7. Create an incentive or scarcity
Everyone likes to get a good deal. Create a high value for your product. You can add a bonus checklist to summarize your process. You can even create a report based on the research you did when creating your product. The more valuable this incentive is the more likely people will hurry to purchase your product for fear of losing the incentive. If you really want to get your customer to take action, create scarcity. Only allow your bonus to be available for a short amount of time or you can have the bonus only available for a certain number of people.
8. Spread the word
Use social media to tell others about your product. Do interviews, create graphics, use banners or just write up some compelling questions to tell others about your products. You can make it as simple as an interview video by having a friend ask you questions about your product. Just set up a camera, or smart phone and record. You can make better videos later when you start making money and can afford to hire a videographer.
9. Take care of your customers
This step is often left out of training programs that I have seen. When you create a product and someone buys from you, they are trusting you. Do your best to deliver a ten times value on your product. That means if they pay twenty-seven dollars for your product, they should receive two hundred seventy dollars of value from the product.
Don’t forget to send them a follow up email asking about their experience. Send them unannounced bonuses and create a deeper relationship with them. There is a lot of money to be made when you understand the needs of your customers and listen to what they have to say.
10. Automate the process
Lastly, create a way to automate your process. For instance, you can create a webinar (recorded online seminar) where you point out the problem and give a few suggestions. You then ask them if they would like to find out more and better ways to solve their problem. You end by offering them your product for a special price since they are watching your webinar. (Remember AIDA!)
I have a mentor that recently said, “just move forward on your goal everyday. Just do what you know and learn as you go.” If you have that attitude, you can always find a way. With Youtube, there are all kinds of free tutorials, just look for the information you need to know at the time. If you need some specific help, I enjoy helping people develop products that help their customers and make money. I would love to help you out. Just contact me here.
Here are some other helpful articles:
- You CAN Develop A Digital Product (VIDEO)
- Connecting with Customers
- 7 Steps to Marketing Your Business
- Using Content to Gain More Customers
Note: some of these links are affiliate links, but I would never suggest something I have not personally used and believe in.
BlueHost: If you don’t have a website, I suggest starting with some good affordable hosting. I have used these guys for years. They have top notch customer service. (find out about BlueHost) If you need help designing your page or getting started, contact Digital Success Advantage for a great deal.
Genius Marketing Pro: If you are on a tight budget and want an all-inclusive system, this is it. These guys really care about helping you and provide lots of on going free training. This product include an autoresponder, page creators and lots more. Plus it is under one hundred dollars! It is a great deal and it is worth reviewing. (Click here to learn more.)
GetResponse: Everyone needs a good email autoresponder if they want to be in business online, and this is one of the best. (Unless you go with Genius Marketer.) GetResponse offers great plans, it includes a free landing page and survey function. When you use my link, you get a $30 credit!
MailChimp: MailChimp offers email autoresponders, without a lot of bells and whistles. They even offer a free plan, so you can get started without any money.
CopyBuilder: If you have all the tools you need, you may need help writing your sales copy. This system takes you through the entire writing process. It is like hiring a copywriter to talk you though your sales copy, but much, much more affordable. (Check out CopyBuilder.)
How any business owner can write a blog?
If you want to write a blog you can buy a course, get some training, hire some professional guru or get some coaching. Personally, I would suggest coaching because you can get better results sooner. That is what I plan to do in this article. I will tell you what I tell all business owners who want to write a blog, but are not sure where to start.
First, come up with some good information to write about.
What to write in your blog
- Write about your Frequently Asked Question. What do people ask you about often? If you can’t think of any, visit a website of a competitor and find their FAQ’s. Don’t steal their information, but use their questions to get you started.
- Share some videos from Youtube or Vimeo. If you see a video that may be helpful to your customers share it on your blog. I suggest adding a few sentences with you expertise and opinions about why you are sharing.
- Share some news. There is always something happening in the business world today. Find relevant topics to talk about as they relate to your business. Then, add in your personality and tell why you think it is relevant and what your customer needs to do about it.
- Share some entertainment. No, I am not talking about the latest celebrity gossip, unless that is relevant to your business. I am talking about sharing things that are fun. Share a funny story that happened at work. Share a funny picture and tell what it reminds you of about your work. People love to laugh and if you can help them laugh, you will have a new friend. . .and possibly a new customer.
I hope you can see that you don’t have to write everything. Make your blog a collection of relevant information to your customer.
Let me give an example:
Let’s say Lacy runs a dog grooming business. She starts by writing about the technique she uses. She shares her experience about how she got into dog grooming and answers her top ten FAQ’s. She was able to come up with three months’ worth of blog content in one afternoon. She spends 20 minutes a week writing and uploading her blog. She even has time to add some really cute pictures to go with each posting.
The next month is busy for her, but takes ten minutes to upload four blog posts, one for each week. On one she shares a cute picture of a new puppy and congratulates the family on their addition. The next one she adds an encouraging quote for dog lovers. The next week she shares a news story about a lost dog being found. And the last one, she shares a single paragraph about her upcoming specials.
The next month she is back on track, she shares her thoughts on a new dog feeding system she saw at the store. She took a quick picture on her phone and used that on her blog. People are excited about it and she orders a bunch for her store and sells out in a few weeks all because of a regular blog posting schedule.
As you can see, there are a lot of things to write about, even for a simple subject like dog grooming. Imagine all the things you can write about for your business.
Quick Exercise: Pull out some sticky notes, index cards, scratch paper or a note pad and start writing down anything you can think about your business. Just put the topic or title in one sentence on each pieces. Write as many as you can for about twenty to thirty minutes. Even if you think you run out of idea, go to a search engine and search your business or industry. See what other people wrote about your topic. Use that as a spring board to write more topics. Before you know it you will have over 50 topics to write about. That is enough for a blog a week for an entire year!
Tips on Writing Your Blog
- Write like you talk. No one wants to read boring technical mumbo jumbo. People want to hear from real people. They want to hear stories. They want to hear how you can help them. Always write as if you are talking to your favorite customer in person.
- The more you write, the better you get. Your first blog posts may feel clunky at first, but keep at it. Eventually you will develop your writing voice and your blogs will be regularly read by your customers. The more your customers like what you post, the more they will share it. When they share it, their friends may become customers, who share it with their friends, who become customers . . . I think you get the point.
- If you don’t like to write, just talk. Record an audio or video of you talking about your topic and have someone transcribe it. There are services that will transcribe your video a dollar a minute (like the rev.com). It may be worth your time to have someone else type it up if you don’t type fast. You can even hire someone from a college, have a secretary type it up or ask your loving spouse to do it for you.
- If you must, hire a writer. You can use a writing service, a college student or a site like Upwork to get someone to write for you. I suggest that you read it for quality and verification and make sure you take time to view their writing before you hire anyone. Remember, they will be representing you and your business.
- Always keep ideas handy. Once you begin looking for ideas, you will see them everywhere. Have a single place to keep all of your idea. You can use electronic notes or programs like Evernote. Or you can just keep notepad or sticky notes handy. Whatever you do, write down any interesting information and you will always have something to blog about.
I have to admit it. I am a bit ADD. There are times where I just can’t focus. But even with that, I still find time to write a blog. Yes, I know we all have a business to run, but taking a few minutes each week, or once a month to share our expertise is imortant. People need and want your wisdom. Share it with the world and the world may just come knocking at your door.
If you need some personal coaching, I have limited availability, but I would love to help out. I bet we can get you started on the right path of blogging quickly and it won’t cost you an arm and a leg. (Click here to learn more)
Attention Do It Yourselfers! I know a lot of us are DIY Entrepreneurs. When we get started, we have more sweat equity than money. If that is you, I have created an entire training for entrepreneurs teaching WordPress. I am offering it for a special price for a limited time, so jump on it quickly if you are interested. (Click here to see the course.)
PS: If you are a person of faith, you especially need your voice to be heard. Read this great article on Christian Business Revolution.
How to set goals and stick to them
A plan of action for health and business goals (plus a bonus VIDEO!!)
For my birthday my wife bought me some exercise cards. It’s a deck of cards with a different exercise on each one. I asked for them because I get bored with the same exercise day in and day out and lose interest in exercising. I love the concept since I tend to get distracted easily and these cards help me vary my routine.
In the set she ordered were some weight loss cards. My wife and I both are trying to be healthier and honestly, we are doing many of the things on these cards already. As I flipped through the ‘Weight Loss Cards” I begin to realize how overwhelming goals like weight loss can be.
We picture our skinny self and it seems so far away. Then, we get a set of 52 cards and in trying to keep up with all of these different ways to get healthy, we become overwhelmed.
So what do we do with all of these goals?
We end up going online and searching for the newest fad diet hoping that will work and before long we are right back where we started.
There’s still hope.
Over the last year I have been studying neuroscience, psychology and goal setting. I used my research to come up with a simple plan anyone can follow. I looked at the cards as if I had never tried weight loss before and I came up with a simple version that could help anyone at almost any stage of health.
See, the goal is not to lose weight. The goal is to be healthy, but we must define what healthy is. Being healthy is made up of two parts: nutrition and exercise.
The goal plan is simple: just do one thing each day in the two main areas of being healthy.
Here’s a weight loss goal plan to get you started:
- The first month just drink a full glass of water 20-30 minutes before your meal and walk to the end of your block and back. (If you can’t make it to the end of the block, just go to the end of the driveway and back.)
- The second month, keep drinking water before your meal, but add a step. Drop your fork every three bites and make sure you are not distracted by electronics or TV while you eat. You want to become conscious of what you eat. That is why family meals are so important, even if you just sit at a table by yourself. Then, add to your walking routine. Walk around the block instead of just to the end of the block. Each week add a few steps even it if it just means going to the next mail box.
- The third month, plan on eating most of your meals at home and cook them for yourself. You may need to do some research on recipes or use one of those healthy ready-made meals to get you started. Keep it simple and don’t try to be a gourmet cook. Salads can be one of the best meals for you and if you make your own dressing they are affordable and tasty. Plus, if you prepare your own meals and hand wash your dishes, that is a bit more movement (more exercise). Keep adding a few steps to your daily walk.
- The fourth month, buy only healthy snacks and cut out fried foods. Think fruits instead of cookies and nuts instead of chips. Continue cooking at home, putting your fork down and drinking a glass of water before your meals. Add 60 seconds of exercise right before you eat. Do jumping jacks one day, leg raises another day, push-ups another day, etc.
I am not going to go any further. If we just stopped here and continued adding one step towards your health each day, by the end of the year the world will see a newer, healthier you.
The key to healthy goals is to do universal healthy habits, not trendy fads and diets.
You can do it, I believe in you!
Below is a video I created that breaks down the plan even more and show you a few other habits you can add to your list. Sure it is 16 minutes, but it is 2016 after all!
BONUS: Watch the video for a section on setting Business Goals (starting at time marker 8:47)
16 minutes to make your 2016 the best year ever:
The Shiney Object Syndrome
I was infected this week with the Shiney Object Syndrome. I bought a product that looked really good. It was definitely something that I could use. I had actually talked about creating something that this product did with ease. I thought it was a no –brainer.
Then, I began to learn this software. Each step seemed to take longer. Then, I had to buy additional products to ‘get the most’ out of this software. By the third additional software and an hour into learning, I thought about my 3-3-30 inoculation from the syndrome.
With this simple formula in my head, I immediately deleted the product and got a refund.
Watch the attached video for the formula to break the Shiney Object Syndrome it’s as simple as 3 – 3 – 30!
Shiney Object Formula Inoculation (The Quick check)
Remember: 3 – 3- 30
- 3 – Can you learn how to implement it in less than 3 hours? If not, no deal.
- 3 – Can you get a 3X return on your investment? If not, not deal.
- 30 – Can you get your increase within 30 days? If not, no deal.
This is a quick evaluation tool.
For More complicated Shiney Objects Follow this Process:
- What is the ‘actual’ price of the initial sale? (Realize that there are probably more additions)
- What is it promising to do for your business? (One sentence, no more)
- What WILL you do this week if you get this software/tool/training?
- What will be the profit to your business on that one action?
- If your profit is less than the cost of the action, don’t do it.
- If your profit is more than the action continue.
- Do I actually need this product/service for my company or do I just like the idea of it? If Yes, continue.
- You are basing your decision on their promises. Realistically, consider that you will probably get about 25% of the promised returns. Considering this fact, is your profit still less than the cost of the item?
If yes, continue:
- Will you use this item more than 10 times and continue to get desired results?
- If yes, buy it. It sounds good.
- If not, don’t worry. You can probably do the same thing yourself without adding to your collection of non-used tools.
- Can you hire someone to do the job for you cheaper than the purchase?
- If so, don’t bother.
- If not, continue.
- Is there an alternative to this product/service that is cheaper? (Pay special attention to upgrade costs and monthly subscriptions.)
- If so, don’t bother.
- If not, continue.
- Can I afford it? It is easy to go into debt for something that you think will help. Again, refer back to the 3-3-30 rule. If you borrow, can you get a enough return on your money in 30 days. If not, wait till you have enough money and use that as an incentive. If you can afford it and everything looks legit…I say go for it. You have put in your due diligence so you can buy with confidence.
If you need help growing your business, contact me. I love to help business owners create an action plan and get to success quicker. I have gone through countless training, read bunches of books, studied under some amazing people and I have been specifically trained to help entrepreneurs grow by growing over six businesses. I continue to be an entrepreneur developing products, resources and services to help other entrepreneurs. I do all of this because when I got started, I didn’t have anyone there for me. I want to be there for you.
If you want to be a success, you need to find a mentor to follow. You don’t have to choose me, but choose someone. Choose someone who is where you want to be and follow them doggedly.
You find a mentor in many ways depending on where you are in your business and your personal development:
- Read a book and take action (free)
- Find a video series on Youtube (free)
- Buy a video or training course ($10-$995)
- Join a group mentoring like a closed group on Facebook ($49+/- month)
- Join a local mastermind group ($99+/- month)
- Get an individual coach for specific goals (worth it!)
Remember all business is business. There are basic success and growth principles that apply to any business in any market. You just need to take action on what you learn and know how you need to follow.
Again, if I can help in any way, get in touch with me. Don’t wait till you have it all figured out, we have all been down that road. It is a slow painful way to grow. Let someone who knows business guide you to take the steps to get your business growing and get to success quicker.
I would love to help you develop into the inspiring entrepreneur you want to be. Let’s talk soon.