The Benefits of Creating Digital Products for your Business
A lot of businesses are now focusing on creating digital products for their business in order to scale. One of the biggest upsides to selling digital products is the fact that they can be quickly created and once created they can be sold over and over again.
This allows a business to create passive income and recurring revenue streams as well as address a need for their ideal clients and customers. In this article, we’ll be looking at the benefits of digital products and how you can easily create them.
1. Why creating a digital product is a good idea if you want to scale your business.
The benefits of creating digital products for your business are that you can create them once and sell them over and over again. You can also easily create a digital product that is affordable and can get your products in the hands of your ideal customers quickly.
The main thing that you have to remember when creating digital products is that they are not just digital products. They are a strategy that can quickly and easily help to scale your business.
You can launch digital products to grow your audience as well as your bottom line.
It is important to think about your ideal client first and what they need right now. What are they struggling with that you can help to solve in the form of a digital product? Get really clear on this and what the end result is going to be first. Do some research and ask your ideal client or customer before you go ahead and build a digital product. You could even presell your idea so that you know it’s going to sell before you create anything.
2. How to create a digital product for your business.
When it comes to digital products, many people think that it is difficult and time-consuming to create them. However, this could not be further from the truth. With the right knowledge and tools, you can create a digital product in just a few hours.
A prime example is just last week when I set myself the goal to create a digital product in a day. I had already seen there was a need for this product and I know it’s something that sells well after doing some research.
So I blocked out a day and set the time to create it. And I got it done.
Yes, I have knowledge of systems and know my way around the tech but it really doesn’t have to be complicated. All you really need to sell your digital product is a way for people to pay you and a way to deliver the end product.
Once you have your idea, think about how you would deliver this to your ideal customer. If it’s a course, for example, you will most likely need a course platform (Kajabi is my platform of choice because it’s super simple and easy to set up. You can get a free 30-day trial here — this is an affiliate link and if you go ahead and subscribe to Kajabi I will receive a commission but know I don’t promote anything that I don’t use and love myself).
Your digital product could be as simple as an ebook and you can easily create that in Canva or Google Docs. You can grab my ebook template here to make it really quick and easy to create a digital ebook.
Taking payment can be as simple as using a PayPal link or you could use a platform such as PayHip which easily enables you to set up and sell digital products and courses and handles EU VAT (tax) for you too.
3. What you need to create a digital product.
Digital products are a great way to create recurring income for your business and if you don’t have the capacity for more 1:1 clients. They are a great addition to your offer stack.
There are a few things to consider when creating a digital product.
For one, you should make sure that your digital product serves a need. Does your ideal client actually need it? Will they buy it?
Next, make sure it’s high quality. This may be the first time your client experiences working with you so make it a high-quality user experience for them so they want more from you.
Thirdly, you should make sure that your product is easy to sell. The product must be easy to find through search engines, and it must be easy to purchase as discussed in the previous section. To expand the reach of your product you could also list your digital product on marketplaces such as Etsy, Creative Market, Udemy and AppSumo.
4. The mindset you need to create a digital product
It’s all well and good having an amazing digital product idea but if your mindset isn’t in the right place then you will come up against all sorts of blocks that will stop you from getting it out there.
It’s quite common to feel the following:
- Your idea isn’t good enough.
- You are not expert enough.
- You don’t know how to create and distribute a digital product.
- There are so many other people out there doing the same thing, you won’t stand out.
- Your audience is too small.
And I have a counterargument for each of these points:
- I bet you it is. Your inner critic is keeping you safe (it’s what our minds do). Keep reminding yourself that you and your ideas are valid and good enough.
- You are an expert! You are here doing your thing. You have clients. The very fact you are reading this tells me that you must be an expert in something for you to want to create a digital product.
- You may not know this yet, but don’t let it stop you. You can learn how to do this or pay someone to do it for you.
- Yes, there may be but they are not you. Your ideal client needs your unique way of telling them something so do not let this stop you either.
- It may well be but if you have an idea and one person is ready to buy it then it is a viable product. Use the marketplaces I mentioned earlier to distribute your product and grow your audience.
We all have wobbles in our business but work on your mindset daily and you will be able to work through them. You have got this!
If you would like the exact process and steps I take when creating digital products for my clients and myself then I am hosting a free masterclass on the 26th April at 1pm BST. You can register for it here. We’ll look at the strategy + energy + systems you need when creating digital products for your business.
Originally published at https://thebusinesshealer.co.uk on April 12, 2022.