One fear that can keep you from starting to sell digital products online is that you’ll do the work and then find out no one needs or wants what you have to offer. I’ve released some super-successful digital products, but I’ve also released some absolute duds – products that sold few (if any) copies, or generated revenue that was totally out of whack with the time and energy I invested in them.
My path to a 6-figure business was not about getting it perfect each and every time. It was actually more about course correcting when I didn’t succeed.
Here are some of the more powerful tweaks you can make to sell more of your digital products online. (Or, if you are just starting to think about your product, avoid these mistakes in your planning process so your digital product actually sells.)
Tweak #1 – Rename the Digital Product
The #1 product development mistake is that the name doesn’t speak to your customer. I’ve seen huge sales boosts by changing and adjusting names for courses and toolkits.
Read your customer comments and emails. See how you can morph their words into a name for your digital product. If they already are saying or writing these words to describe their problem, the name is going to resonate with them.
What’s more, test your name with actual potential customers before your launch. Do not entrust this work with friends and family. Ask actual people who would be in the market to buy your product what they think of your name, what they would expect the product to include, and if they are interested in learning more.
Tweak #2 – Make the Digital Product Smaller (and More Affordable)
Another reason a digital product doesn’t sell online is that the product is beyond your buyer’s perception of a valuable price point. They see it as “too expensive” or say they “can’t afford it.” While neither of these statements is objectively true, if your audience is price sensitive, making the product smaller and more affordable can lead to more sales.
For example, before I launched the 6-Figure Cash Flow System that’s now priced at $97, I piloted a group program for $297 that flopped. I learned that my audience valued the system more than the interaction for this topic and adjusted my offering accordingly.
Similarly, you could pull templates and worksheets out of online courses or turn the transcripts for a course into an ebook.
Tweak #3 – Evaluate Your Sales Process to Sell Digital Products Online
It takes more work than most expect to make an offer visible. Most of us are afraid of selling digital products online on some level and so we bury our offers.
- Look at your sales messages from a potential customer’s perspective, and ask yourself if you really make the offer visible. Was there enough communication that they couldn’t help but see your offering. (Note: a few social media posts is NOT enough.)
- Then, look at your copy. Did you really promote your product? Was it clear there was a product to buy? Did you emphasize what was special about your offer and when the offer expired? Small adjustments in copy make big differences when it comes to sales.
- Finally, consider your current reach and list size. Converting 5% of email subscribers is considered a good launch for most online businesses. And it’s actually more difficult to convert a social media following, because they are less likely to actually see all of your messages.
Tweak #4 – Take a Different Approach
Another way to course correct is to try a different approach to the same problem. When I began helping mid-career professionals start business analyst careers, I wrote an eBook that sold remarkably well. So I launched a $997 online career development program, but this didn’t sell as well.
Then I listened to what my target customers were telling me they needed to start their careers, which was stronger business analyst skills. I started teaching skill-development courses (as opposed to a career development program) and my sales took off.
Same problem. Different approach. More sales.
Tweak #5 – Oh, wait, did your digital product solve a problem?
Solving a problem that is an urgent or critical need for your buyer is critical to selling digital products online. When it comes to information products, especially ones priced more than a few dollars, it’s tougher to sell nice-to-haves.
A digital product has to be positioned to solve a specific problem for a specific type of person. Then it sells. Revisit the problem your product solves, make sure the product name clearly communicates the product solves that problem, and re-launch.
Finish Your Digital Product
One way your product will definitely never sell is if you don’t finish it and make it available for people to buy. In the 30-Day Digital Product Challenge, you’ll create a small product that solves a compelling problem for your buyer and get it up for sale on your website.
(And we’re incorporating specific action steps to be sure your product solves the right problem, has a compelling name, and will be well-received by your community.)
The challenge starts April 13 and is only $97. I so hope you can join us!