Have you ever tried to figure out why you need to create your own product? Sure, when you create a digital product, there may be a ton of products already out there that is very similar to what you thought of! If that is you, don’t fret! That shouldn’t stop you from creating your own product.
Don’t get intimidated! If you’ve never created a digital product or you simply don’t like to do it because you say it takes too much time, I have good news for you! To create a digital product doesn’t mean that you have to make 14 videos, 20 checklists, and an interactive membership website. Keep it simple. Make a few small things first.
A digital product can be a pdf of your favorite 10 websites to generate side income, or maybe it can be a 15min interview with another individual about a specific subject and you want to give it away for free! Get creative and keep it simple.
Despite what everyone else says or what you may have read in a blog or something, let me give you the Top 3 Reasons On Why You should create your own digital product:
1- Authority
Regardless of how many products that are similar, or that may even have a similar name, pull your big boy or big girl pants and create a digital product anyhow. It feels great to make our own! When you do this, you create instant authority for your brand and your marketplace.
Authority means that you are a credible source for information in your niche. Have you ever heard the phrase, “respect is not given but it is earned”. When you create a digital product, you earn respect, whether people want to give it to you or not. It separates you from the average expert or marketer. Everyone can have a blog, but everyone doesn’t have a product.
Your authority on a subject is what gets others to spread the word about you. This is why many people create checklists for users because if I can get you good results on something after you followed my checklist, then you will automatically think that I’m an expert at the subject matter. Make your digital products short and easy. Make it digestible so that the person that downloads it can easily follow it in steps.
2- Big Bucks
If you don’t know already, I love the benefits of affiliate marketing. You can sell products and make money from it without having to be responsible for anything. The manufacturer of the affiliate product has to be the one to do customer service, deal with knucklehead customers that haven’t tried the product but they want a refund, or any other issues. You can also scale up! However, affiliate marketing does not have the benefits of creating your own digital products.
You can make the big bucks in affiliate marketing but the really big bucks are when you create a digital product. This process is known as product creation. When you see that people make $100,000s and millions dollar launches, it is because of the marketers knowing how to create their own digital products!
Anik singal, creator or Inbox Blueprint which is an awesome course that I took in order to learn how to make money with email marketing, is known for his product launches. Whenever he create a new product, you already know he’s going to make millions of dollars in a couple of days. His products are normally high ticket products. Imagine selling a product for $1,000 and keeping all of the profit!
See, unlike affiliate marketing, you only get a certain commission from selling the product. If we stick to our $1000 example, at 50% commission, you’d get $500 commission. At 25%, you’d only receive $250 commission. All are good money, but it’s nothing close of making the full $1,000. For this example, Anik would only have to sale 100 units of his product to make this a 6-figure launch of $100,000 at minimum. Now, Anik is known for selling thousands of units, and I will describe how he does this in the next tip below. Imagine selling 1,000 units at $1,000. That’s a $1,000,000! This can be done a number of days.
You see, creating your own digital of where the big bucks are at. I will admit that there is a lot more work involved, but the reward can be exponentially greater. I recommend starting with affiliate marketing to make some money and getting a few sales under your belt, and then eventually graduate to creating your own product.
For what business owner is creating digital products for? Though you see this through a lot of internet marketers, digital products are EXTREMELY profitable for coaches and consultants. We’re talking products and services that cost upward to $5,000-$20,000 in some cases. Are you seeing the power of creating you own digital products now?
3- JVs
When you create a digital product, it allows for the big bucks to be made, but JVs is what makes your products successful. JV stands for Joint Venture. This is when you team up with another person and they help either promote a product or service, or they help in some form or fashion with by letting you use their services. You are partnering with them, or you’re helping them.
In the subject how to create a digital product, you will learn that JVs can help promote your product to others to drive a ton of more sales in the short term, however let’s look at long term benefits really fast. Think further than just one launch! What if you have several launches that you team up on over the course of 3 years? Do you realize the type of relationships you can generate with others? What starts out as a small contact, can end up being a lifetime friendship!
There are a ton of people who speak about the relationships that they still have from other JVs. You can also recommend JVs to other JV partners that you know. In other words, you’re expanding your network and this goes back to point number 1. You’re increasing your authority for your brand and your market. What if you have your own products, you’re making money, AND you are the go-to person to link other contacts up with each other. Many people will come to you for various things.
I’ve spoken with many marketers that has created awesome profitable products because of a relationship that they formed with others. Some just simply did an interview with a JV partner or spoke at an event, and didn’t even do any work in order to make a ton of money. There’s so many benefits to JV partnering that I can make a product myself on the subject.
One person is great at creating JV relationships is Marie Grace Berg. She considers herself a JV expert (and she is), and she has grown her businesses explicitly by JV relationships. Why not JV? It takes less work and you can make a ton of more money.
