Wanna bring in passive income for your biz through digital products? Learn how to create a digital product in 3 easy steps!
What’s something that can’t be held, tasted, or smelled…but is used by millions of people all over the world?
I’m talking about educational products like courses, eBooks, and memberships. Videos, tutorials, and guides. Case studies. Audio trainings. Templates and graphics and worksheets, oh my!
If you’ve been wanting to create and sell a digital product of your own, but have no clue how to get started, I’m here to help.
You might be wondering, “Magan, is selling digital products for my business really worth it?”
Take it from me: I’ve created many digital products in my time, and I’ve now sold thousands of them.
It’s how I was able to leave the corporate world and pursue my business full-time!
So yes, I say digital products are absolutely worth it.
For one thing, they can be a great source of passive income. True passive income, not income that seems like it is when certain influencers talk about it on Instagram.
You can create and sell your very own digital product successfully. The first step is choosing the right product.
Think about your audience. How can you make their job, their life, or an everyday task easier for them? What problem can you help them solve?
What is your audience already asking you for when it comes to your services or products?
If you’re a new business owner and don’t have an audience yet, think about how you’ve helped your friends, family, or community in the same way.
Maybe people come to you for help with graphic design. Your friends ask for tips on meal planning. Or people notice your organization or time management skills.
Your product should help your target audience get a quick win. It should solve a pain point that they have. After using your product, they should be excited and want to buy even more from you.
Now, your next step is to create a digital product. You have a lot of options here depending on what your product is all about.
My advice is to keep things easy and simple. For a passive income product to be really passive, you don’t want to invest more time and money than you’re selling it for.
So, if you’re making a downloadable template, image, or graphic, use Canva! If you’re creating videos, use Loom or YouTube.
Just because a tool or program is free doesn’t mean you can’t create an amazing digital product with it.
After you’ve created your product, what are you going to name it?
Coming up with names for our products can be daunting. It’s like naming your child, right?!
Sometimes it’s difficult because we’re too close to our own work. Or we see other business owners who come up with great names on the fly.
So, I have some tips that will help you come up with a catchy name for your digital product.
Number one, remember to KISS: keep it simple, sunshine. Short names that are easy to spell, pronounce, and search for online are easier to remember!
Number two, focus on your target audience. Use their language when naming your product. Speak directly to your audience and their needs.
Number three, be creative! For example, alliteration can make product names memorable. Alliteration is when multiple words in a phrase begin with the same letter. I used it when naming my product, Digital Product in a Day (it’ll help you set up a cart system, product descriptions, a sales page, and more for your new digital product!).
Number four, think about your branding. Your product name should fit in with your overall branding strategy. For example, I use the phrase “The School of…” for my products and courses, and this podcast, too!
Number five, research. Check that your new product name is already taken, or sounds too similar to another product. You don’t want to deal with legal issues, right? Of course not.
Number six, test it out with your audience. See what they think of your potential product name. This can be as simple as asking in Instagram Stories or asking for replies in your email newsletter.
Number seven, check for the domain. This’ll help you when you’re ready to set up your sales page and landing pages. You could even buy the domain name if it’s available and you’re ready.
Last but not least, number eight, avoid generic terms. I did say to keep it simple at the beginning, but not generic. A generic name like “All About Marketing Podcast” isn’t as unique and memorable as it could be.
Alright, my friends. You’ve now learned:
But I know there are so many options for digital products out there. You may be having a hard time moving on from Step One!
If that’s the case, I encourage you to grab my list of 80 digital product ideas for free.
If you’re stuck on creating a digital product from your current offers, you might need some extra guidance.
Join us in The Digital Biz Life Membership, and I’ll help you with your digital product myself!
If this episode inspires you, leave a review and share your biggest takeaway with me! And while you’ve got your phone out, go ahead and do these 3 things:
Want more of where this came from? Check out other show notes here.