How to Plan a Digital Products Business
Define Your Target Audience.
Defining The Target Audience For Your Info Product is the First thing to Start in your Planning. It’s crucial to define your target audience and do what you can to make sure you’ll come up with something they want and need. You don’t want to put weeks of hard work into creating an info product that no one wants to buy. ! Your product creation process then begins with your target market. You don’t even need to think about what type of product in what format and on what topic you may want to create. Your first job is to become very clear on who your target market is, what it’s comprised of, and what motivates the people that make up the said market. Because at the end of the day you’re dealing with real people who have to like and trust you to open their wallets for what you have to offer them.
Are you sure on the Specific Niche Product you want to create and Sell?
A good starting place is to define your particular niche. You’re not just in the online marketing, weight loss, finance, or personal fitness niche. You have to be more specific. Better examples would be Facebook marketing for local businesses, low carb diets for post-menopausal women, getting out of debt with personal budgets, or personal fitness for pregnant women. You don’t need or want to be everything for everyone. You’ll do much better by offering specific advice to a particular target market. It will make your life much easier going forward because you’ll know exactly who these people are and what they are looking for. ! Your next step is to define your target market and the people it’s made up of. Who are they? What’s their gender, age, income? Where do they live, what do they do for work and fun? Where do they hang out online? What’s their most urgent problem and how can you help them solve it? These are all good questions to ask. Spend some time to dig deep and learn as much as you can about your future customers. It’s some of the best time you’ll spend when it comes to growing your business and creating profitable information products.
Create an Avatar Image.
create an avatar or an image of your ideal customer. Be as detailed as possible. Create a vivid picture of this person. Give him or her a backstory and flesh out this imaginary character that represents the people in your target audience. With that firmly in place, you’re ready to create your first info product. Create it for your avatar. Write or speak directly to this person both in the content that makes up your product and the marketing materials. Do that, and you’ll significantly improve the chances of creating a digital information product that sells well and for months and years to come.
Have your Created your Digital Shop?
Building Your Digital Store
Start with WordPress
If you want to set up shop quickly and easily, and you plan to host your own files and create your own website that features your digital product pages, I recommend installing WordPress. Not only will it be easier to create an attractive website (even if you lack design experience), but you can set up a fully-functional eCommerce website using powerful plugins that instantly add shopping cart functionality to your website.
Most hosting providers offer one-click WordPress installation so you don’t have to manually upload files, or configure anything. If you’ve chosen BlueHost as your hosting provider, you’ll be able to access this feature from within your main account manager. Just log in and search for “WordPress Installation” to get started.
WordPress for Beginners
Tip: If you need help with WordPress, one of my favorite resources for beginners is found at http://www.WPBeginners.com. This website offers comprehensive tutorials and guides on everything WordPress, from customizing your themes to optimizing your website for the major search engines using free plugins.
WordPress is one of the most popular content management systems online, and one of the easiest to use so don’t be afraid to give it a try. It’ll make building and designing your own storefront or digital shop a lot easier.
Selling Digital Product with Woocommerce
When it comes to building a digital product store that features a shopping cart system, WooCommerce is one of the more popular plugins.
You’ll have to spend some time configuring the plugin to work the way you want it to, but once you’ve set it up it will add shopping cart functionality to your website, and automatically deliver your products to paying customers.
Here are my favorite shopping cart plugins for WordPress:
Protect your Digital Products
If you really don’t want to build your own digital storefront, or if you already have a website that features sales copy for your products but you are looking for an easy way to protect your files and automate the process from checkout to delivery, Product Best is definitely the better option.
Here’s how I’ve used Product Best to sell some of my information products without needing a hosting account but still being able to build my own brand:
Step 1: I registered a domain that matches the kind of content I am selling. For example, if you were planning to sell a course on Social Marketing for business owners, you might register something like Social-Marketing-Expert, or Social-Marketing-Guide.
Step 2: I log into my ‘Product Best’ account and set up a product page. Instead of using a free sub-domain offered by Product Best, I choose to use a custom domain. All I have to do in order for my domain to work with Product Best’s system is log into my domain registrar account and change my DNS servers to point to ‘Product Best’
After a day or two, my DNS settings will propagate and whenever potential customers enter my domain name into a search engine or visit it directly, they will automatically be directed to my product page hosted by Product Best!
It’s that easy. That way, instead of having to spend time customizing templates and configuring plugins or shopping carts, I can spend my time developing new digital products.
How Profitable can Selling Digital Products be?
Again we must understand the Business Model leveraged by Selling Digital Products; The Business has near-zero marginal cost of production and distribution, the low marginal cost of consumer search, and low transaction costs. Customers’ behavior can also be easily measured.
If you sell on the Right Platform, you can easily Make $6000+ Profit per Month.
Choose the Best Business Option for Yourself
Success in the Digital Product world starts with choosing the Right Business Model.
Do you want to be a service Provider in the Digital Industry?
Do you want to create and sell your Own Products?
Do you want to sell someone else Products?