Your experience and knowledge are valuable assets that can be shared with the world in a way that will allow you to reach and help as many people as possible. Creating and selling digital products allows you to stop trading time for money, while also building trust with potential new clients for your private coaching business or program.Digital products also help you build credibility and they’re a great opportunity to expand your customer markets. Products such as; pdfs and videos, are great as lead generation tools to secure opt-ins to your email list. The best way to build trust and great long term business relationship with people who are interested in what you offer, is to help them! Share actionable steps or info that will be appreciated by your ideal customers and if they like what they receive as free gifts from you then it’s likely at this point they will consider what else you have to offer.
Step 1) Define your customer and what problem you want to solve for them (what are the questions that people always ask you in relation to your profession).
Understanding very clearly who your customer is allows you to focus on creating a product that serves them specifically. Often what happens if there isn’t that clarity you end up speaking to no one rather than everyone. Better to speak to one customer profile type than many as your marketing message will resonate much stronger with them than if you try to do too much for too many.
Define your ideal customer, what is their profession, age, gender, demographic and interests
Next list out all the problems they might be having which are in your area of expertise
Next list out solutions you can offer them for each specific problem
Pick the problem that is most critical to their success AND that you can offer a viable solution for
2) Research viability of your idea
Determine market size by using Google Keyword Planner Tool and find out how many average google searches there are for keyword phrases that people searching for your product or service would use to find to a solution such as yours. You can do this by Country, Region or even City
Now that you know who your customer is, using those demographics use statiscal information available online to estimate in numbers how large your market is
Know your competitive landscape, get an idea of the competitive landscape and complete a SWOT analysis to see where you would be situated
Find out whether or not your idea is trending by using Google Trends, see if interest in your market is increasing or decreasing and where
Now you want to look at pricing and profitability, do an exercise to to determine what your pricing needs to be to reach your goals
How valuable will your product or service be to people? Make sure to complete a market survey that will give you valuable feedback on what will resonate the most with your customers and how to please them
3) Decide what digital product format to use such as an ebook, a course or a membership site
Once you have feedback from your market survey and have looked at pricing and the competition you can then decide what type of format you would like use to deliver your offer. Each have their own strengths:
An ebook is an excellent choice if you have an existing business and would like to offer a simplified version of your services via your website to a much broader market
A course is essentially step by step instructions broken down into to modules or lessons that can be delivered online via website access, video content, worksheets and/or exercises
A membership site can be structured somewhat like a course but the main difference is that you create a website with a members only access area which allows you to offer fresh content, live sessions and discussion on a monthly basis as well.
4) Create a solution that is measurable and quantifiable. Break down how to achieve the expected result into steps. Each step should have a feeling of progress achieved and associated with it.
Create an outline with your solution broken down into steps
Go through each step and break it down further into lessons of that section or module
Edit your action steps to ensure that there are tangible results to be had at the end of each section or module
By making sure that there are quick wins to be had in each part of your program this keeps your student feeling confident and enthusiastic which keeps them going till the end!
5) Now it’s time to put your product together in your selected format!
If you are building a pdf you can create attractive graphics and the pdf very easily with tools like Canva for design and PDFescape.
If you are building a website use a platform like teachable or thinkific to make delivery the lessons easy.
If you are creating a membership site consider Wordpress and plugins such as S2Member
6) Create an Evergreen sales funnel based around your main product idea.
Time to get things automated!
Decide the format for your funnel and if you are going to use a ready for you platform such as Clickfunel or if you will create your own funnel using tools such as Converkit and Wordpress.
An example of a classic sales funnel looks like this:
Awareness: for example this could be a Youtube ad
Interest: In the Youtube ad you would invite them to learn about a subject that they are interested in and you would collect email addresses
Consideration: Now you present a small offer to them and/or invite them to consider an exciting future offer
Intent/Engagement: This step requires another level of interaction or engagement, this can be in the form of a webinar, participating in a challenge or watching you on Instagram live
Evaluation: This is when the complete offer is presented with all the bonuses and payment details
Purchase: Before action comes thought, then mental commitment and then the physical follow through of a payment
7) Create a launch plan to market your product using your the sales funnel you've created.
The purpose of your launch plan is to set goals and create the plan to reach them.
Start first by having a number associated with your email list or a monetary amount for example that you want to reach
Now determine your numbers required for each step of your sales funnel (use estimates for expected conversions)
By adjusting your numbers you should see exactly what your goals are for each stage of your funnel and now you can determine your marketing plan and budget
In my example above I show my goal is $22k US and at the top of the funnel I need 3000 people to click through to my sign up for notification and 1st offer page, and if my conversion estimates are correct that will result in my estimated total sales
To get 3000 people to click from my ad I will probably need to spend $1-$3 per click via Facebook Ads, $0.30-$1/click from a Youtube ad, $0 for doing free events, webinars or livecasts with affiliates or new partners and $0 direct email invitations
In my example I decide to do a mix of all of the above plus use my social media platforms to initiate my launch and start the sales funnel
The most important aspect of a funnel in order to get it started and keep the momentum going is to always be offering value at each stage, that keeps people coming back and wanting more of what you offer!