Promoting Your Digital Product
Welcome back to our blog series, A Start To Finish How To Guide For Creating & Selling Digital Products. This is Part 4: A Step By Step Guide To Promoting Your Digital Product
In the previous post, we discussed:
- How to set up your digital product online once it’s complete
- Using SendOwl to store and sell digital products
- Creating a back office/members only area
- Installing the best WordPress plugins to improve traffic and increase sales
Now that you have a completed digital product and are all set up to make your first sales, it’s time to promote your digital product and prepare for your product launch. In this post, we will discuss:
- How to appropriately price your digital product
- Various ways of promoting your digital product launch
- Best practices and tools for promoting your digital product
Pricing Your Digital Product
Pricing your digital product might seem really overwhelming at first, especially if this is your first digital product. Its hard as a beginner to gauge what your work and knowledge are worth.
Ultimately, pricing your product is completely up to you, however, there are definitely a few helpful pointers that I can offer to guide you in the right direction.
To begin, it’s not a bad idea to have a look around for similar products under similar niches and gauge what your competition is charging. Try not to use this as your only pricing method though. Just because your competition is pricing their product at a certain rate, doesn’t exactly mean you should follow suit.
Instead, have a look at your competition’s pricing, but also take note of how much it cost you to create your product and how much the knowledge or skill that you’re offering them is worth. Different products are going to value at different rates. For example, a design template would probably value much lower than a full digital online course would. So, it’s important to keep that in mind.
Factor in the cost of creating your product. Include website fees, service provider fees, marketing campaign cost and any other cost of creating the digital product.
If you’re still having trouble coming up with a number, take your audience into consideration. For example, if your target audience is a first-time freelancer, you may want to price a bit lower. If you are talking to big companies with large budgets, you probably have some room to charge a bit higher.
Finally, test your price point. Once you come up with a number, try selling your product at that price and see what happens. Based off of your sales numbers, make an adjustment if need be to see what works best for your product and for your audience. You can always change your rates later, so this really isn’t set in stone.
Another helpful tip is offering a “limited time only” button. By letting potential buyers know that the product is currently on sale, they will feel as though they’re getting more bang for their buck.
Ways of Promoting Your Digital Product Before Launch
The next step is to promote your product. You want to build anticipation for what you are about to be releasing. Whether you have an already established business or not, you need to build hype around whatever it is your selling. The best ways to do this are by following these steps:
It’s crucial to build anticipation for your digital product before it goes live. Without the hype, you’re releasing a product with no audience backing and thus, increasing the probability of product failure.
Create a Lead Magnet
One of the best ways of promoting your digital product is by giving away some freebies, also known as a lead magnet. Think of this as a sneak peek into your product for your audience. Something that will show them that your product will offer them something valuable.
Once you have your lead magnet, it’s a good idea to link it to a landing page and ask for an email opt-in in exchange for the freebie. Once you have their email, you can send out email blasts promoting your product and announcing your product launch. If they found your freebie to be helpful, they are more likely to purchase your product upon release.
You can also follow the above mentioned steps to create a sales funnel. Once you have sent them their freebie, you can offer to pre-sell your product as well. Buyers don’t want to miss out on a good deal, especially if the product is going to sell quickly, so doing this gives them just the right amount of pressure to make the commitment. Finally, if you choose to pre-sell, always offer a bit of a discounted price to entice the sale.
Promote Your Product on Various Marketing Channels
Share your upcoming digital product launch on all of your social platforms and email campaigns. Best practices include:
- Posting relevant images and links on social platforms at the right times. (ie. Facebook, Instagram, Pinterest, Twitter, YouTube, Google +, LinkedIn, etc. – Be aware of the times of day you are posting. Use a social media scheduling app to automatically make your posts during high traffic.
- Creating a blog post to promote your digital product
- Send out an email blast to your existing email list
- Link your digital product in your email signature
- Create Facebook Ads and Pinterest Pins to encourage pre-sell or email campaign sign up
Possibly one of the most effective tips is to try and partner up with an influencer in your industry and have them review your product and help you promote your digital product. Influencers often have a massive following, so if you haven’t quite made it there yet, they can help you boost your site traffic and increase your product sales.
Industry professionals or influencers will sometimes review and rate your product on their page for free, especially if what you teach on your product proves valuable to them. Other times, you can offer a small commission or affiliate payment for them to rate, review and/or promote your product on their page.
There are some pretty nifty tools out there to help you find the right influencer to help back your campaign. Check out Grin and HYPR. These two platforms allow you to search for influencers based off of who their audience is. From there, you can choose the right fit for you and get in touch.
The key to promotion is staying consistent. Building the hype isn’t a one-time thing. You have to stay on top of your audience, keep them guessing, get them excited for what’s next. Make them want your product more with each post, email blast, social media ad, etc.
It might be a good idea to come up with a sort of promotion calendar to keep you on track with your promotion goals.
In the next post, we will discuss creating your sales page/sales letter, having a pre-launch event and making any final touches before finally launching your product.
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