Digitally She Does It Podcast

EPISODE 63: 5 simple steps to launching your first digital product

October 04, 2023 Karen Davies Season 1 Episode 63
Digitally She Does It Podcast
EPISODE 63: 5 simple steps to launching your first digital product
Show Notes Transcript

In today's episode of the Digitally She Does It podcast, I break down the 5 essential steps to help you create your first digital product. We'll explore the power of setting meaningful goals, conducting research to validate your ideas, and identifying the perfect platform to showcase and sell your products.

I also discuss the importance of connecting with your audience, repurposing your existing resources, and utilising tools that can make your life easier. Plus, I share some insider tips on how to market your products and make your brand stand out in a crowded marketplace.

Whether you're a seasoned entrepreneur looking to diversify your income streams, or you're just starting out and want to make a splash with your very first digital offering, this episode is packed with invaluable insights and actionable steps to get you on the path to success.

So grab your favourite notebook, get ready to take some notes, and let's dive into the full episode!

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Karen Davies [00:00:00]:

Hello, and welcome to the Digitally. She does it show. This is episode 63. And in today's episode, I'm going to be sharing 5 steps to creating your very first digital product. So let's jump right in, and let's get started.

Welcome to the Digitally. She does it show. I'm your host, Karen, and I'm here to lift the lid what it actually takes to create a successful business.

Karen Davies [00:00:31]:

If you are an ambitious creative ready to build a business on your own terms and without compromise, and this podcast is perfect for you. With my award winning approach to marketing and expert knowledge in creating online courses, this show will leave you feeling inspired, energized, and ready to bring those big dreams to life. Join me each week for a dose of motivation and marketing know how along with actionable step by step strategies to help you accelerate your businesses' growth. So let's dive in, and don't forget to subscribe to all my upcoming episodes Which drop every Wednesday. Hello, and welcome. Thank you for joining me today. I am your host, Karen, and I really appreciate you hitting the play button to listen to today's episode. Now in today's episode, I'm going to be sharing my 5 all important steps to creating your very first digital product that you can sell in your business.

Karen Davies [00:01:34]:

Now if you're an avid listener of the show, then you'll know that in last week's episode, episode number 62. I talked about the power of creating small but mighty digital offers in your business why it is really important to create these. So before I dive into my 5 step process, I just want to spend a bit of time on recapping so that I can share with you why digital products can help you transform your business. So let's talk about why you would want to create a small digital offer in your business. Now the reason why is because it provides so many benefits to the business. Firstly, small digital products some really easy to create. So if you're sitting there thinking, oh, I just don't have the time, to spend on creating small digital products, an offer, then this is something that you'll be able to create very quickly, very easily so that you can start making money, and that is one of the benefits of having these small digital offers. Secondly, they can serve as entry points for new customers.

Karen Davies [00:02:55]:

So not only with you would you have something small and ready to go on the table, it's also something that would give a new customer a taste of what your business has to offer. Now digital products are often bite sized offerings, so they're a great thing to use to build trust and credibility in your business which is going to make customers more likely to explore what you have on offer because they sit at an entry level. Also, they are affordable. So if you have stuff that you sell in your business at the moment and maybe your offers start at, you know, a fair few £100, this is a really great way to expand your audience and reach those people that don't have that budget because not everybody has a couple of £100 sitting in the bank to invest in the thing that you want them to invest in. So this is a great way to bring them into your business, to get them buy in from you, but it's not going to break the bank. Something else that I think is worth considering is that it also allows you to diversify what it is you offer so that you can cater to the different needs of your customers. So by providing a range of products that have different price points. You can expand your audience.

Karen Davies [00:04:35]:

You can me, their demands, and you can serve them better because what you have to offer is a lot more. Now there's no doubt about it. Creating small digital products in your business can provide huge opportunities because it's a great way to new customers to increase accessibility to what it is you have to offer, but to also provide a diverse range of things that you have on offer, which again is going to attract those new customers. So it's really worth considering having small digital products in your business because it's a great way to really scale up your business as well. Now when I'm talking about small digital products, I'm talking about things like templates, ebooks, resources, audio recordings, things that don't take long to create at all. So I'm not really talking about online courses or memberships or programs at this stage because that requires a lot more from you. What I'm talking about is creating something that you can probably create in an hour or 2 hours and have up ready to sell so that you can start making money from them. So when I'm talking about small digital products, think about the things that you currently have in your business that you're using on a day to day business because I am sure that you'll be able to repurpose that and make money from them.

Karen Davies [00:06:08]:

Because if it makes your life easy, then it will most likely, do the same to somebody else as well. And thing is people will buy things that will save them time, so do not underestimate the resources and the tools that you're using because you'll most likely be able to make some money from them. So how do you get started? Because that's something that I often get asked when clients are talking to me about creating products in their business. Now in last week's episode, I shared my really simple to follow 5 step system. So in today's episode, I want to dive a little bit deeper into each step so that if this is something that you're thinking about, then you will have more of a deeper understanding of what's involved and, of course, how to get started. So my first step, and I think this is a really important step, is setting goals. Now goals, as we know, are important. They're important in business because it helps to know the direction in which your business is going in and to also identify what's important to you because we all have things that's important to us, so we need to be connected with what those are.

Karen Davies [00:07:29]:

So what's important to me is going to be very different to you, but, ultimately, by connecting to that, you'll be more focused. And when we're more focused, we're more likely to get things done. So first and foremost, you need to have a real understanding as to why you want to create digital products in your business. What is that going to give you. Like, really think about it. So if you were to make x amount of money from selling digital products, what does that start to look like. It will obviously start to bring freedom into your business, but what would that freedom give you? What would you be able to do? Would you be able to have a longer lunch? Would you be able to cut your hours down? Would you be able to reduce your working week? And then what would that do for you? Would it improve your family life, your relationships? Would it give you back time so maybe you can invest that little bit more time in yourself by going to the gym. So what is important to you and what are you trying to achieve.

Karen Davies [00:08:34]:

Now by identifying this, we could we can start then measuring our progress and our success. So when we have goals in place and we know what we're looking to achieve, we can then measure what we do against that and we can see if we're on the right track. And I think that's the thing that's important. So for example, something that I am really guilty of is that I tend to take on a lot of stuff because I have my creative studio. So I'll be working on many different projects, and I will get distracted. So if client wants a website, I will spend my time focusing on my website, but then that will take me away from maybe spending time in my Etsy store and maybe creating new products because I'm caught up with doing client work because that's my passion, but that's also where I'm comfortable. So that doesn't necessarily mean it's aligned to my goals. My goals are very clear.

Karen Davies [00:09:35]:

My goals are very specific. My big goal is to create a digital business that operates without me being here at my desk. That's what I'm working towards. So if I'm busy creating websites some working on my client's branding and doing all of that fun stuff. I'm still at my desk. I'm not really working towards my goals, which is ultimately to bring in and build up and create more passive income that's going to then bring in more freedom into my business. So I have to be really careful and I have to be really mindful at how much work I take on. So by being really clearer what my goal is.

Karen Davies [00:10:16]:

My goal is very, very clear. I have to make sure that I'm aligning my actions to those goals. And it can be incredibly difficult, especially when I really enjoy doing the other stuff as well. Now I'm not saying doing the other stuff is bad. It's not because that's my business. That's the other half of my business. But if my focus is to create a business that is bringing in that passive income, that is giving me more freedom because I'm not having to be at my desk making money. Then if I'm spending a lot of time at my desk because of what clients are asking me to do, that I'm not fulfilling what it is I've set for myself in terms of my goals.

Karen Davies [00:11:02]:

So would my time be better off spend working on the other area of my business that is all about creating that financial freedom and giving me that time back. So would I be better off spending time in my Etsy store optimizing the products that I have online, you know, doing other things that brings in that passive income. So just think about your goals and what it means to you and really be clear about what you're doing right now and if what you're doing is serving you and moving you towards those goals. And if it isn't, then it's time to take action and make changes. So I just want to really start with that because the the deeper connected we can get to our goals, then the more likely we're going to be in achieving them. And you're not gonna sell you're not gonna set goals for the sake of setting goals. You're going to be setting goals because they mean something to you, because they're gonna take you somewhere that's going to improve you or your life or your relationships or it's going to bring you something in your life that you're currently missing. So really think about it and try and connect to it on a really deeper level so that you know wholeheartedly why you are doing it.

Karen Davies [00:12:27]:

Because if you can nail that, then you will be all over things like creating digital products and online courses and things like because that will be the thing that will really start to drive your business forward. Okay. So my 2nd step is all about brainstorming ideas. Now, again, if you're if you do not consider yourself to be creative, then there could be a real block around this. And, again, I've had many conversations with clients about this, how can they get their ideas out and how do they know that their ideas are worthy enough, that they're good ideas. So I just want to kind of go through what to think about at the brainstorming level because this step is the fun step. This is where you get to be creative. You get to be fluid in your thoughts and your ideas, and you get to try things and write things down and just go with the flow of what comes through.

Karen Davies [00:13:31]:

So first and foremost, I want you to identify your target audience. So because we need to understand who we're creating our products for. You need to really think about what their needs are, what their challenges are, and what their overall desires are. If you can get really clear on those 3 areas, then it's going to really help you when it comes to creating your product because you'll have a little checklist. You'll be able to be like, okay, do they need this? Tick. Is it addressing their pain points or the challenges they're currently facing? Tick. Is it feeding into their overall desires, the solution that they're looking for? It does tick. So by getting really clear on those areas, then it's going to make the brainstorming steps so much easier.

Karen Davies [00:14:30]:

Now something to consider is the fact that you have a lot of personal experiences. Throughout your life, you've had many, many experiences. And because of that, you have a wealth of knowledge and expertise and value that you probably most likely don't consider. But you need to be reflecting on what you have gone through and what your own personal experiences are because this will help you to make decisions. So I want you to consider your skills, consider your knowledge, and consider solutions that you have acquired over time. Now think about how these insights can be transformed into a valuable digital product that other people can then benefit from. So it could be something simple like maybe you have lost weight in the past, and maybe the way you did it was through creating yourself a little planner. And that planner could be really simple, but maybe it was enough to make a difference to you.

Karen Davies [00:15:45]:

Then think about, would somebody else benefit from that planner? And could you therefore sell it and make money from it? So it doesn't necessarily need to be something that you're doing in your business. It could be something that you've used on a personal level that has made a real difference to you. So don't be afraid to draw on the personal experiences that you have had. Now in last week's episode, I talked about mind mapping techniques like spider diagrams. I love these. I think these are so powerful because they're visual. All you do is start with a central idea, and then you branch out by connecting related concepts, keywords and subtopics together. So mind maps are great because they visually represent the relationships between different ideas, and this can spark new ideas and new associations that lead to product ideas.

Karen Davies [00:16:47]:

It could something could be, you could think of something out of something that you've written that sparks a new idea. So you just need to be fluid in your intentions and just let what it is that's inside of you come out. And that's why I love spider diagrams because you you can give yourself permission to get messy. It's okay to be messy and, in fact, messier the better. Just have fun with it. Go with it. See what comes out. You might find that you're pulling things out of your subconscious that you haven't even considered and this is where the through magic happens.

Karen Davies [00:17:25]:

So that's what you need to do in the brainstorming step, but remember, stay open minded, embrace creativity, and be willing to iterate and refine your ideas as you go along because with persistence and thoughtful consideration, you will come up with compelling digital product ideas that's going to meet the needs of your target audience. Now my 3rd step is about research. Now researching your ideas is really important. You need to know that there is, a demand for the thing that you're creating, and the way you do this is by carrying out effective research. So by understanding who your target audience is, you can understand what their demographics are, what their interests are, their needs, and the challenges they're currently facing. So by identifying who your ideal customer is. You can get really clear on those bits. Now this is gonna help you to tailor your research specifically to those requirements so you can carry out research using online tools and platforms.

Karen Davies [00:18:43]:

So there's so much stuff out there. You can use Google search engine industry forums that you can use social media platforms. You can go into online communities and ask questions and really get valuable data and insight that's going to help either sort of formulate your ideas or at least confirm the ideas that you have, and that's the important bit. If you have an idea on what you wanna create, then just by carrying out the research, will that be enough to give you the confidence? So If you go and have a look and you see that something is out there, exists, and it's been done in a specific way, then instantly you know there is a demand for it. That doesn't mean you need to copy it, but you can take inspiration from it. So carrying out research not also not not only validates any thoughts and ideas you may have, but it can also give you that extra inspiration that you may need to create your digital product. Now there are so many tools out there on the market. I couldn't go through them all because I'd be here all day, but you do have keyword research tools like Google Keyword Planner or SEMrush.

Karen Davies [00:20:05]:

These are great because you can actually type in keywords and then you can get data off the back of that. Jump on to YouTube. YouTube is the search engine. You can go and have a look and actually check out if this video is relating to the topic that you want to create your digital downloading or jump onto Pinterest. Maybe there's something on Pinterest that, you know, will come up, but do your research. Carry it out, and get that insight. And then another thing to consider, if you have access to any industry experts or mentors. Ask them.

Karen Davies [00:20:43]:

Get their feedback and see what their opinions are on the things that you want to create or are looking to create. So just reach out. Be, you know, be open in the way you carry out your research, but continuously monitor your market, stay updated on your industry trends because all industries have various trends that go on, and just gather feedback from people that maybe use the things that you offer so that you can really hone in on what it is you're creating and get the right feedback back so that you're creating the right product in the 1st place. So make sure you carry out research so that you can create something that your audience needs. So step 4 is all about validating your idea. Now you'll do this naturally through the research stage, but I think this step is really important because whilst you're researching, you may not necessarily be thinking about is my idea valid? It's not something that you may kind of tune into. But what I want you to do is by the time you've carried out that research. You know, without a shadow of a doubt, that there is a need for the thing that you're creating.

Karen Davies [00:22:11]:

Now I would say this in terms of whatever product you create. So whether it's a small digital product, an online course, a membership, or a program, always make sure that you carry out the research and you're validating as you go along because it's really essential that your audience needs what it is you're offering. You may think that there is a need for the thing you're offering, but it doesn't necessarily mean that there is. So you need to get outside counsel on this, and the way you're going to do that is through the research stage. So my 5th and final step is about setting up your store so that you can sell your products. Now this is a step that can probably feel a little bit overwhelming especially if you've not had experience with selling online before. So I just want to walk you through some online marketplaces that you can use to sell your digital products. Once you have your store in place and you know where you're going to sell it.

Karen Davies [00:23:24]:

Then when you start creating your product, you've already done so much of the work that you'll be ready to go. So I'm gonna talk about setting up your store. Now there are lots of ways to sell your digital products online. But the best thing to do when you're starting out and you're selling products for the 1st time is to use online marketplaces because these places are highly optimized, which means there's organic traffic. You will always need to market your products because the downside of being in an online marketplaces that you're competing against other store owners. So you're going to be very much driven down on price, but what you can do is use it to your advantage whereby you can house your products within an online marketplace, but then you can direct traffic to your store. So it doesn't mean that you would necessarily just put it in on a marketplace and then leave it. There are things that you can do to drive more sales, and I think that's a really important thing to know because it's really tempting to create your product, to put it up onto an online marketplace, and then not do anything with it.

Karen Davies [00:24:46]:

And you may obviously bring in a few sales, but, actually, you wanna be taking control of that. But the way you would do that is have a selling strategy that sits find your product. Now I'm not gonna talk about that right now because that'll be another episode in the future. But what I want to talk about right now are the various online marketplaces that are available to you. Okay. So let's start by talking about Etsy. So etsy.com is an online marketplace that predominantly focuses on handmade, vintage, and unique goods. It does allow small businesses to sell their digital products directly to their to customers, and you can sell all around the world.

Karen Davies [00:25:36]:

So it is a global platform. It was founded back in 2005, so it's been around for a long time. And Etsy do invest in optimizing their platform, so it does pull in a lot of customers worldwide. And it also creates a global community of creative entrepreneurs because there's loads of creative entrepreneurs on there selling digital products. Now as I said, you can find a real wide range of products on the platform, and this ranges from anything from handmade crafts, artwork, jewelry, vintage items, home decor, digital products. I mean, you name it, you can find it on there. Now the platform itself enable sellers the opportunity to create their own online store, within the Etsy website. So It's great because you can go on there.

Karen Davies [00:26:34]:

You can set up a store, list your products, and you can essentially start making money straight away. Now Etsy itself tends to focus on community, and it wants to encourage buyers and sellers to interact with each other. So the platform tends to offer various features for sellers so that they can engage more with their customers. So this might be, you know, shop policies that you can customize. They offer messaging tools and also the ability to participate in forums and teams where sellers can collaborate on ideas that they have, which is great because it really is bringing people together. Now Etsy also provides lots of different tools and resources that helps sellers to market their products online so that they can reach a wider audience. They have a built in search engine that and and it's highly optimized. They use SEO search engine optimization features, which means that as a seller, you have the ability to be discovered by new potential buyers, which is great because that takes out a lot of the leg work for you.

Karen Davies [00:27:56]:

Also, Etsy offers advertising options so you can actually promote your listings, and you can really build your visibility within the marketplace. So it is a really good platform to get started. They offer a lot. They really do support sellers. And what I find really useful is their step by step guides. It's really easy to follow, and you can literally get your product up there, set up a store, get selling really quickly. So if you've never come across Etsy before and you're interested in selling digital products. This is the place to start.

Karen Davies [00:28:37]:

So go and check it out. It's etsy.com, and you'll be able to see the kind of stuff that they sell on there, and you'll be able to, like I say, set up a store, get your products up there, and get selling. Start making money, which is what we want. Okay. So the other thing that I'm gonna talk about is Gumroad. So this isn't, I would say, as, known as maybe what Etsy is, but Gumroad is an online platform that allows creators to sell digital products. It was founded back in 2011, so it's a little bit younger than Etsy. But it has the goal of simplifying the process of selling and distributing digital goods.

Karen Davies [00:29:25]:

So you can sell things like ebooks and courses and music, artwork, software, that kind of stuff. Now with Dunroad, creators can easily set up a storefront where they can showcase and sell their products. And the platform itself supports lots of different file types so you can sell ebooks and videos and audio files and all those things that you probably have sitting around in your business. Now what's great about Gumroad is that creators have control over their pricing and how they distribute their products, and you can either offer discounts and bundles to customers on the platform. So there's lots there to work with. Now one of the features that Gumroad offers is, how to is to Dreamline, that selling process, because what they want is to make it seamless between sellers and buyers, and they provide secure payment processing with instant delivery of your digital product. So you get to create this really lovely experience for your customers whereby they can buy your digital products and get access to it straight away. Etsy's exactly the same.

Karen Davies [00:30:44]:

The moment somebody buys, they get access. But what's really nice is that with both of these online marketplaces, you can create a really exceptional customer experience that keeps them coming back for more. So when you are setting up your store, really do think about that because you want to give customers the best experience possible. Now good just going back to Gumroad. Gumroad is really user friendly, and it is all about helping creators monetize their digital products. So if you haven't come across Gumroad before, go and check it out because it's really worth getting on there to sell your products. And if you sell on Etsy, you can sell on Gumroad as well. So I don't believe that there's an exclusivity on either platform.

Karen Davies [00:31:36]:

So at the time of recording this, you can be on both platforms. Now another platform to consider is creative market. So if you are a creative and you create graphics and templates and themes, fonts, all of that stuff, then check out Creative Market because that's where you can go and sell. Now this place is predominantly, I would say, for designers who want to showcase their products and sell to a large customer base. So Creative Market, again, I believe it's a global marketplace, and it's got a huge customer base. So it just opens the door to, like, limitless possibility, really. The great thing about Creative Market is that you can offer bundles and discounted packages as well so you can get really creative with the things that you sell. So if you end up creating stuff that, you know, individually that you're selling, but you wanna sell it as a bundle, then you can do that.

Karen Davies [00:32:40]:

But Creative Market serves as a really valuable resource for lots the designers and creatives. And it's a place that that they can go and buy assets. They can use it in their own work. So if you are a creative, maybe you're an illustrator, a graphic designer, a web designer, and you like creating things to support other designers, then this is where you would go, and this is where you would sell those products. So go and check it out. It's creativemarket.com. And, yeah, it's a it's a really great site. Now, of course, there are other platforms out there, and I can't go through them all, but I just wanna touch on Amazon because we all know Amazon.

Karen Davies [00:33:23]:

It's a huge platform, but it also offers a platform called Amazon Digital Services. Now this was formerly known as Amazon Digital Media. This platform allows sellers to distribute and sell their digital content. So if you've got things like ebooks and audiobooks and music maybe you've created and things like that, then you can sell them on Amazon Digital Services. Now you just need to create a seller account and then you list your digital products. So it's a really simple and easy to follow process. It's really important though to be aware of their guidelines and their requirements for selling digital content because what they don't want is stuff that belongs to other creators to be sold on Amazon, so you really have to make sure that what you're selling is your original content. But Amazon pull in so many customers on a daily basis so you really would have access to a wide audience.

Karen Davies [00:34:33]:

So if you are interested in selling digital products on Amazon, then go and visit the Amazon seller website because then you'll get more information and guidance on how to get started. Now as I said, I there are so many platforms up there, you know, out there that you can be using, but go and check out the platforms that I have suggested because you you'll probably find that they would they would just help you to get started. Now as I said, creating small digital products in your business is a great idea, especially if you're looking to make more money, to widen your customer base and to scale up. If you haven't already considered this, then then it's worth doing so because production costs are low. Digital products don't cost much to create. If as long as you have a Canva account, you can create a template, an ebook, a checklist, a cheat sheet, anything like that, and you can sell it multiple times without having to incur additional expenses. So if you haven't considered creating small digital products in your business, then do so because it's a great way to make money and to scale up. I speak to so many entrepreneurs who want to generate passive income in their business because they've realized that selling their services limits their capacity.

Karen Davies [00:36:26]:

There's no room for scalability. The only way they can scale is bringing on a team, and they often don't want that headache of having to bring staff into the business. So this is a great way to really bringing passive income so that you can scale your business and make money when you're actively not working. And this is most likely why you started your business in the 1st place, because you wanted to build freedom into your life. And you want to create a business that brings you joy and that helps you to help others as well. So, again, if you haven't considered creating digital products in your business, and I really encourage you to do this. Digital products offer convenience and flexibility for both you and your customers so you're actually serving your customers more by creating these products because they can access what you've created easily an instantly as well. Remember, you have created your business to give you the life that you want to live, and creating small online digital products can be a really cost effective and scalable way to generate income while showcasing your expertise to a global audience.

Karen Davies [00:37:44]:

Now by doing so, it's going to give you the time and freedom back so that you can actually create the business that you love and that you're proud of. Thank you for taking the time to listen to today's episode. I hope you found this episode of value. And, of course, please feel free to share it with others who you may think will also benefit from listening to today's episode.

If you are feeling inspired and would like to know more about getting started with creating an online digital course, then why not download my free ebook, 10 Steps to Digital Course Success, by visiting my website, www.pink-lemondigital.com

I will be back next week with another episode, but until then, have a great I hope you enjoyed this episode of the digitally she does it show. Don't forget to check out the show notes for all the links and resources mentioned in today's episode. New episodes drop every week on a Wednesday.

Karen Davies [00:38:42]:

So why not rate and subscribe so you never miss an episode? Thank you for tuning in today, and I will see you next time.