Digital products are products that are consumed on the computer or mobile device. PDF files, Videos, audio’s and programs all fall under this category. Also web applications, online memberships and other possible digital products are possible. The main reason that these types of products are so beneficial for businesses is because once they are created there are absolutely zero production costs. Selling one product and selling one thousand products costs the same to your business. It’s pure profit.
You may be wondering why digital products, if you are a service company or your company offers physical goods, then how can digital products help? Simply put, digital products boost the rest of your business in several ways.
When you have a digital product being offered, then any customer who is on the fence about your services might just pick up your digital product and then turn into a customer after seeing what you offer. This makes digital products great for turning prospects into buyers. You can even create a free product just to incentivize people onto an email list so you can follow up with more offers of your services or other products. As you can see, digital products are also brilliant for building customer and prospect email lists for future marketing.
A digital product could be a great educational introduction for your business and teach the customer everything they need to know about you so they buy more from you in the future. In this way these products turn you into an authority in the marketplace that gets you more clients in return.
Selling digital products is completely passive income after it’s been setup. There is no extra work to sell a copy of your book or audio course because it’s all set up on line. The prospect sees your page where you are offering the product, they buy it and are automatically redirected to a thank you page where they can download the product or access the membership. It’s really easy once it’s setup and you can be on holiday while making money in the background.
Digital products are sold online, most likely on your website, and they can be in several different forms depending on what your intended goal is. You can create a PDF guide for something, a video course or just a lone video teaching or explaining something, and also audios for teaching and educating the prospect on your service or possible solutions to their problems. Since it’s sold online, you can sell to anywhere in the world so your customers will be from all over the place.
How Can You Create A Digital Product for Your Business
In order to create a digital product you have to ask yourself a few questions first. Who is your target customer and what are their biggest problems and needs? If you have trouble answering this then send a survey to your target audience or get your customers on the phone and ask them directly. Ask them what their number one problem is and what the solution would look like. Also, ask them their current needs and what they want to know most about your company and solutions.
When you have this information you have more than enough for several different digital products. A great way to create a product is to just focus on one specific problem a customer has, then create an informational solution of how they can go about solving it on their own. This becomes a great lead in for you to offer your services you are guaranteed a warm prospect because they have already conformed their interest and desire for a solution from you.
You don’t need to create the product yourself; you can outsource all the work on freelance websites or get one of your employees to start working on the task. If you do it yourself it’s just as effective however, and you will be able to talk to the customer on a more personal level because you are making the product. The easiest products to make are the video and audio products as they require you to just talk into a microphone or get on camera and give whatever solution you are producing for the “one” big problem that your customer has.
It’s important to note that you are not making a digital product specifically for the profit it produces, although you will love that, but instead for the increase in long-term customers you will et for all your products or services.
If you stick to one problem, one solution in your digital product then your customer will definitely require more and they will come to you looking for help. Digital products are a great way to provide more value to your customer base and audience as well as producing more future leads, clients and profits for your business. You will also be providing value to those people who don’t want your services or who are only slightly interested in your niche, which gives you maximum coverage of your market.
Products also get spread around in your market, friends talk and tell each other about what they read or saw. This way digital products become an engine for word of mouth marketing, and since its all happening in the background, this is free marketing.
Overall digital products have many benefits for business, and if you’re not utilizing them right now then you are laving a lot of money and happy customers on the table. You either have to create or outsource a product, and start building your customer list, selling your product, and getting more clients from this amazing passive source of income.