Complete your online revenue with the help of a digital product.
You can generate a steady stream of income from the comfort of your own home, or from wherever you like to work, by combining affiliate marketing, brand collaborations, paid ads and creating video content, for example.
Today we’ll add a new income stream to the mix: your own paid product!
Start for free
Last time we talked about launching your first free product. A free product is often the best first step to take, because it allows you to get the lay of the land and see what kind of things your audience needs. It also allows you to gather testimonials and grow your audience.
However, in the long run, you’ll probably want to make money with your skills. This can be done by upleveling your freebie into a paid product or service.
Take your offer to the next level
So how to uplevel your free offer into a one that will bring you money? Start by trying out different free products to see, which ones work the best. When you have one that people love, it’s time to take things up a notch.
Think of ways to offer even more value than you do with your free product. If your free product is an ebook that guides people through creating their first email list, your paid service could be something like this:
- Collection of swipe files and templates that help people create content to their email list
- 4-part video series about the best email marketing strategies
- Personalised 1:1 walk-through of the platform during which you help them get started and all set-up
If you have an expertise-based business, like a consultancy, for example, your free product can be a check-list or a free consultation call with you. To build this up, you can offer a paid in-depth consultation to help your clients even more.
Whatever your business or industry is like, your paid service should offer more in-depth information and add more value than your free one.
Choose your content format
Now that you have an idea of the content of your paid product, it’s time to choose a format that supports it. Here are some examples:
- Audio guide
- Video series
- Online course
- Consultation by email, video call or chat
As you see, your digital product can be something completely automated, such as an ebook that anyone can download without you lifting a finger. Or it can be something that requires your time, like a consultation session or a content creation offer.
While both are viable options, keep in mind that you won’t be able to automate an offer that requires your time 1:1, and you’ll want to take this into account when pricing your service.
Time to test things out
Let’s wrap this blog up with a reality check: No matter how much you love your work and your loyal fans praise it, and can take time, effort and errors to break through in the digital marketplace. Give yourself grace and time to tweak your product. Ask for feedback, improve it and try again. Eventually, you’ll get there!