-Mark Your Progress
-Ask a Question
It’s time to build products! “Wait, my audience isn’t huge,” you cry. Yes, but here’s a little secret: launching and promoting a product grows your audience. It also allows you to re-invest that income into Facebook Ads and continue to get new readers, followers and subscribers.
However, there’s a few caveats. You haven’t launched a product before so let’s start with a low price point item ($30 and under, roughly) to get people to sign-up. I recommend digital products because they are easy to create and have little overhead, but this could also work well with a physical product that you drop ship. (I’m not going to teach drop shipping store set-up, but I highly recommend looking at using Shopify with an Oberlo plugin to connect to your vendor — there’s a lot written about it, but you can drop ship things directly from AliExpress, a Chinese wholesale website and in fact that’s 99% of the ads I see on Facebook for cute/weird products — but it’s a rabbit hole, so only go check it out if you’re planning on doing a shop with physical products. Here is more.) For the rest of this course, I will be teaching digital products – but this can also work just as well with a shop.
Choosing a product
You’re actually going to choose two products: the entry-level product and the upgrade. The entry-level product is going to fund your advertising, and the upgrade will be your main source of income. It’s wise to choose two different formats, so you might have an ebook and an ecourse, or a mini-course and a coaching program. At $29 and under, you won’t hit price resistence issues with your entry-level product and that first step deepens their relationship with you. You’re building trust. It’s then easier to sell a higher price product to someone who knows you and has seen your work up close. If they know you provide a ton of value, you can charge more. It’s hard (often impossible) to build that kind of equity on a single landing page, so that’s why you’re first giving people a freebie (to build your list), then offering them a low-cost product, then offering a higher-price product. It’s a kind of sales funnel… because you’re moving them along an invisible-to-them sales process, but it’s not icky or spammy. You’re not pressuring them, you’re showing them the value you can provide.
Digital product types:
Ebook – use Powerpoint to create a quick ebook format. I recommend SendOwl for selling a single digital product. It also handles setting up affiliates which is key.
Ecourse – written or video, recommend teachable or udemy for starting out (setting up ecourse plugins on wordpress can be tricky, not )
Digital tools – these can be fonts, lightroom presets, photoshop brushes (see creativemarket.com for more ideas) but recommend selling with Gumroad for your own site or they can be worksheets, databases, scripts, templates, or lists.
Coaching / consulting – this can be done on an hourly rate, but I recommend setting up some kind of package with materials + coaching, and charging the value of what you’re giving, not the time you’re spending with them (for example $79 for a coaching package that includes materials and email consultation).
Summits / Online Events / Bundles – these are more advanced options, but there are ways to monetize Virtual Summits (if you can pull together speakers) and your higher tier item could be a bundle with your product and others combined. These take a little more planning but should be doable in six weeks if you hustle.
Membership sites /content paywall – If you’re a prolific writer or you already have a ton of content to draw from (that’s not already free on your website) this can be an option, although to be honest, it’s more of a year 2+ endeavor because the expectation is they’ll be walking into so much content (that’s not available anywhere else) that’s it’s worth it. With newspapers offering their entire archives for $10/month the price in general has been driven down, but niche sites with a strong demand can still do well.
How to know what to do? Ask your audience…
For this week, you’re going to think of several possible ideas and get feedback in our group. Then through some clever passive questioning, you’ll talk to your audience about what they are interested in. Ways to ask: Write a post about the topic and see the response. Ask a question on FB that doesn’t indicate you’re thinking of making a product, but instead just asks your audience about their challenges. Pin articles related to each of your ideas and monitor the repins. Deep dive into your analytics and see what topics people are drawn to the most. It’s not an exact science, it’s more of just checking your assumptions and seeing what the response might be like. We’ll start building our products next week.
1 Add your last week’s NEW subscribers (not total) to the spreadsheet
Each week we’re going to record our progress. This will not only give you a way to track your week-to-week changes, it’ll also give you an idea of how the rest of the class is doing.
The spreadsheet is here.
2 Publish at least two posts to your blog
Contine to keep your blog posts (and social media) going!
3 Think of several product ideas
You want to think of two things together – that make sense for the same person to buy… the entry-level product and a way to upgrade them later.
4 Share in the FB group for feedback
We’re here for you! Get feedback in the group and let’s help each other refine our ideas!
5 Get feedback from your audience
Like a ninja, you’re going to stealth your way around this question. Please don’t directly ask, “what product would you like me to build?” because that will cloud the answer… people always “think” something sounds good but their behavior is much different.
Mark Your Progress
|1||Add your last week’s NEW subscribers (not total) to the spreadsheet|
|2||Publish at least two posts to your blog|
|3||Think of several product ideas|
|4||Share in the FB group for feedback|
|5||Get feedback from your audience|