Do I Need A Digital Product?

We have had many discussions about digital products. And the reason I’ve been harping on this topic is that business is changing and the environment is changing. The climate is changing and the economy is changing. We always want to keep abreast of what makes sense for our business. You may be thinking, ‘Do I need a digital product?’

These are some of the questions you should be asking yourself today:

• Where do I need to shift? 
• Where do I need to pivot? 
• What can I do better in my business so that I can continue to serve my audience to the best of my ability without getting burned out without sacrificing myself my time and my family, and is the most cost-effective way for me to serve many people? 

I went from having three digital products just six years ago, to having over 40 digital products now. And I love, love, love, love digital products, and I love the power of digital products. 

WHY DO I LOVE DIGITAL PRODUCTS?

I love the freedom that it gives me to run my business the way that I want. I love the fact that it’s a passive stream of income. And I also love the fact that it adds to the types of incomes that I have in my business. So, it allows me to have multiple streams of income, including a passive stream of income. And that’s why I keep talking about it. Because I understand that business is changing and evolving. And we always want to figure out what is our next step. What are we going to be doing? Maybe we need to stop something and add something else. What is the next step? And I always ask my clients, “do you think a digital product could be the next step for you?” Now everybody is not at the stage to start a digital product. And that’s fine. But I just want you to keep it at the top of your head.

Want more money? Then add digital products

 
WHAT TYPES OF DIGITAL PRODUCTS HAVE I CREATED?

I’ve created different types of digital products including: 
ebooks  
my membership site 
a ton of video training, that I sell to my audience to help them move from where they are to where they want to be. 

WHAT DO YOU DO FIRST?

Ensure you do the market research before you decide to create your digital product. That market research can look like different things. You can do a Google search or even take a close look at your competitors, (not to diminish yourself, but to have a sense of what type of conversations are going on around the topics that you want to share as well). Especially if they have the same ideal clients. Your market research also includes having conversations with your present and past clients, to give them a sense of the direction that you’re going so that you don’t waste time, money, and resources in creating these digital products and then getting crickets, because I’ve seen that happen before. And I don’t want you to be in the same boat. I know that is a source of nervousness and contention for a lot of people who are considering adding a digital product to their repertoire of services. 

You want to be very clear about who you are serving and how you are going to help them get clear on your solution. How are their lives going to be changed? How is their life going to be better? Is the thing that you’re offering the solution? Are you offering something easy for them to implement? Do you give them step-by-step instructions? Have you done beta testing on it? There are so many different steps to get it exactly right. So it becomes one of those products that easily brings new passive income and can be added as another stream of income in your business.

Now, besides market research, you needed to spend time growing your audience. Building the right audience is not about selling to everybody. Your digital product cannot solve everybody’s challenges. You have to get specific about what solution you are offering to answer which one of the audience’s challenges. And it’s not about solving all of their challenges as well. This is why as you start to get ready to create this digital product, you have to niche down, build your audience, engage with your audience, ask them questions, test it out with your audience, and get specific and clear about what challenges they are experiencing. Why? So you would know that your digital product is not generic. Your digital product has to become very specific. So even if you’re doing an ebook, a membership site, or creating website templates, or doing photography, you need to be specific. And the more niche that you get, the easier it is to sell. And the more money you will make. 

Avoid these 2 huge mistakes when creating a digital product

A FEW EXAMPLES

If you are doing photography templates and decide to provide photos to your audience who live in the Caribbean, who are looking for images that represent their culture, and people that look like them, that is getting very specific.  

I get a lot of my stock images from 2 specific persons who create digital products specifically for women of color. All of the images are of women who look like me. 

PIXI STOCK
CREATE HER STOCK

Most of my digital products, for example, are for entrepreneurs who already have products, an audience, are already selling, and are now ready to add another stream of income to their business. It is not for the entrepreneur who is now starting. 

If you are creating an ebook for makeup enthusiasts, as a digital product, you’re not just going to teach about generic makeup. Your ebook might be for people who want to do theater makeup. Or people, with a particular skin condition, who want to know how to use makeup to cover up if they have blemishes, etc. You want to get specific. 

My membership site, for example, is for entrepreneurs, who struggle with two things, marketing, and mindset. And that is what you’re going to learn. You’re not going to learn about websites and branding colors, fonts, registration of your business, etc. That’s not what we talk about in my membership which is one of my digital products. We talk about your mindset and your marketing. Those are the two solutions that I am offering. 

YOUR DIGITAL PRODUCT IN YOUR SALES FUNNEL

So you want to get specific with your solution. And you also want to get specific with the audience. You may have an audience who has multiple challenges, which allows you to create multiple digital products instead of one digital product to answer all of their challenges because it’s going to become confusing and harder for them to digest. If you know your ideal clients have more than one challenge, then create separate digital products that tackle each one of the challenges that they are experiencing, and create it as part of your funnel. As they go through one product, they move to the next one, and they move to the next one. It’s a logical sequence of how they buy these digital products from you. 

And that’s the beauty of having digital products. You can create a system in your business where you have people buying from you over and over because they have options. If you don’t have enough options, people are not going to stick with you. They will come to you and get one thing and then jump to somebody else to get something else. Whereas you can offer them those solutions, but you can offer them in separate digital products, you don’t try to put everything in one book or one training or try to solve all the challenges in one membership site. Break it up, to make it easier for you to manage, and easier for you to track your audience. Because, if you try to put like five solutions in one book, and they are five separate solutions, people might say, “Well, I’m not going buy that because I don’t want to learn about the other four things. I’m just interested in this one thing.” 

In addition to making sure that you do really good market research, which means doing your Google searches, looking at your competitors, engaging with your audience, etc, you want to ensure that when you make that decision, that you are very clear about the audience who needs a digital product, and the solution that you are offering to them.  

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