6 Things To Do Before Launching Digital Products.
By Stacy Ketiku
Unlike typical products, digital products range from software applications to ebooks, music, online radio, podcast, APIs, stock images/videos, courses, design templates, and more. With digital products, you can start earning some passive income from your skills or expertise right from the comfort of your home. In fact, you could get so successful at it that you consistently earn more than your mainstream of income. If you are ready to monetise your knowledge effectively and get maximum returns, follow through these 6 activities before launching digital products in 2020 and beyond.
Decide Your Product and Audience
Start by identifying your skill-set or products you’ll love to invest in creating. It is one thing to create these products and another to create the type of products people need and are ready to pay for. If you want to create an online course, reusable templates, or digital tools, carry out in-depth research to find out what people are actively searching to learn or need to ease their work processes. This information will lead you in the right direction and aid your decision-making process on what type of product to launch. You can research using platforms like Google Trends, Google Keyword Planner, Quora, and other communities to learn what your audience wants and who they actually are.
In some cases, you might not necessarily involve yourself in the creation of the product, but could put in your funds to get some interest in the long run. Feel free to do whichever works for you, yet do not compromise on the quality of whatever product you put out there. If you decide to create an app or other tools, partner with an agency with all the expertise you need to create a great digital product. But if you are creating online courses, E-books and more, you will find yourself giving out a lot of your expertise and time.
Create A Marketing Plan
Since you are launching digital products, the most logical thing to do is to market your product online because that is where the users of your product are. However, never go into the act of marketing without a concrete execution plan. If you will be using paid methods to market your product, your effort must bring in a commensurate amount of sales or conversion. If you are just starting out, being visible in organic search will do you more good than you can imagine. Include several marketing strategies in your plan so that you can reach a wider audience. Check out a list of marketing activities to engage in when launching digital products or other types of products.
Warm-Up Your Target Audience
If this is your first time launching a digital product, you need to accept that your audience does not really know you. And they might be quite unsure if you are worth their investment or not. You need to keep putting yourself out there, making people see your product as relevant and something they’ll miss out on if they fail to patronise you once you launch. Begin to warm up your target audience by setting up a landing page that shows off what you are proposing. Create an offer to attract pre-sign ups and build your email list. The amount of email you get is also an indication that there’s an audience who needs you and are waiting to receive you.
In addition, write blog posts on your website and as a guest on other blogs to establish you as an authority in your field and get people to anticipate your product.
Deal With Pricing
Pricing is an aspect most product owners shy away from. You have invested a lot in terms of time, experience, expertise, research, and even funds. So don’t be shy to ask for money you have worked for. In fact, you went through the rigour to make an excellent product; that’s why you should resist the urge to undercharge customers for the value you are offering. At the same time, to not overcharge them else you will get little or no patronage. Find out how much people are currently paying for a similar product, bear in mind how much was invested, and just fix a price that will make the product both profitable and sustainable. The excellent thing about digital products is that you incur zero or very low costs when producing each one.
Test Product and Get Feedback
Before you finally launch, test your product with your team as well as a test group. While testing, seek honest opinion and feedback from real users. This information will help in fixing issues users are likely to experience while using your product. Feedback from friends and family might not produce unbiased responses, so try to hear from many other test users.
Get your digital product Live and start making sales. Even after you launch, stay open to feedback, and keep improving your product as well as user experience. It is also a great idea to ask users of your product to drop reviews/testimonials on your website. This serves as social proof and assists prospects in making up their mind to patronise you. Furthermore, feel free to offer some kind of discounts to your first set of users or run promo periods just to afford people the chance to have a taste of your product. If you create an ebook, you can offer the first chapter for free or have a free package on your digital tools and apps.
After you launch, you can’t stop marketing yourself. This is where many fail because they suddenly think the work is done and should slow down. At this point, you can even get yourself an opportunity as a guest on relevant podcasts to talk about your expertise as well as your digital product. You too can launch a successful digital product.