Do you have any plans to create a digital product?
Or are you creating one right now?
You may say no to this now, but do you know that if you have a skill, it is worth millions? You just have to learn how to package your skill as a product and distribute it. That is it.
So, the correct question to ask would be,
- Do you have a skill you can sell? or
- Do you know how to solve a specific problem?
Also, do you know you just have to find ONLY ONE person to validate your product? That means if you can solve a problem of one person, there is a market for that.
In this newsletter, I will show you how you can build such a product/service.
I have been building products for the last 1 and half years, these are some normal days for me now.
But before moving on to the Steps of Creating a Digital Product, let me introduce a tool which is helping to write this newsletter or any other content I write.
Here are the 7 Steps you need to take to get started.
Here are the 7 Steps:
1. Find a group’s problem
2. Solution Roadmap
3. Design your solution (ebook, digital course or a live webinar)
4. Find potential buyers.
5. Host the product.
6. Request product reviews.
7. Distribute the Solution
Also, under each step, you will find an example which will help you to identify the actual tasks related to that step.
Let’s get started.
1. Find a Group’s Problem
The first step in building your online business is identifying a problem that a specific group of people are facing. This problem can be anything from a common issue people face in their daily lives to a more specialized problem in a particular industry. Once you identify the problem, you can begin to develop a solution.
For example, suppose you have identified a problem that many college students face, which is managing their finances effectively. In that case, you can create a solution tailored to their specific needs and create content around it.
My Story: On November 18, 2022, I wrote a thread titled “Fastest Way You can Become a Professional Data Analyst”. And something clicked me.
It went viral, and I knew there was a problem, the problem was people didn’t know an exact path or a faster route to Become a Professional Data Analyst
2. Solution Roadmap
Once you have identified the problem, the next step is to develop a roadmap to solve the problem. This roadmap should include the steps necessary to address the problem and achieve a solution. It should also outline the resources required to create the solution.
For example, if you are creating a solution for college students’ financial management, your roadmap might include creating a budgeting plan, providing resources for managing student loans, and investing tips.
My Story: I created a simple roadmap explaining the fastest way anyone can become a Data Analyst. Send it as a giveaway, and downloaded 700+ people.
3. Design Your Solution
The next step is to design your solution. This can take the form of an ebook, digital course, or live webinar. The solution should be designed to solve the specific problem you have identified and should provide value to your target audience.
For example, you can create an ebook that provides step-by-step guidance on how to create a budgeting plan, a digital course that teaches students how to invest their money, or a live webinar on effective student loan management.
My Story: My particular problem was to outline the exact steps anyone could take to become a professional data analyst. So, I came up with this solution.
4. Find Potential Buyers.
The next step is to find customers who may need your solution. This can be done through various marketing techniques, such as social media advertising, email marketing, or influencer marketing.
For example, you can create social media ads targeting college students who have shown an interest in personal finance, email marketing campaigns targeting college students subscribed to financial newsletters, or collaborate with influencers in the financial niche to promote your product.
My Story: Now that I’ve given my product away for free and gathered more than 700 emails from interested parties, I can send them my solution. I have not used any social media Ads or product launch strategies for this product.
5. Host the Product.
Once you have identified your target audience and designed your solution, the next step is to find a place to host your product. This can be done through a digital marketplace such as Amazon, Udemy, or Teachable.
For example, You can host your ebook on Amazon Kindle Direct Publishing, Gumroad, or Podia. Your digital course on Udemy, or your live webinar on Teachable.
My Story: I launched on Gumroad.
6. Request for Product Reviews
To ensure your product is meeting your customer’s needs, it’s essential to ask for feedback or testimonials from those who have used it. This feedback can be used to improve your product and make necessary changes.
For example, you can ask your customers to provide feedback on your ebook, digital course, or live webinar using an automated email.
My Story: Just after the next day of purchase, I sent this email. It is automated using Gumraod Workflow.
7. Distribute the Solution
Finally, it’s essential to create a system to deliver your solution and make the selling process efficient. This can be done through various platforms such as email marketing or automation software.
For example, you can use email marketing software such as ConvertKit to automate the delivery of your ebook or digital course. You can also use market places like Gumroad, or Podia for the selling process.
My Story: So, far it has made me143 sales ($1500), I hosted this product on Gumroad.
These are the 7 steps you to complete in order to produce and market your digital goods. The most amazing aspect of this process is that it doesn’t cost you a dime.
If this is your first time reading one of my posts, you might want to look through all of the earlier ones from this page.
Whenever you’re ready, there are 2 ways I can help you:
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