Donald Gayhardt

Donald Gayhardt - A Leader in Financial Services for Underserved Consumers

What You Need to Know about Marketing a Digital Product for Passive Income

What You Need to Know about Marketing a Digital Product for Passive Income

Earning passive income is easier than ever thanks to the internet. There are numerous ways to earn money on the side. Currently, one of the most popular involves creating digital content, such as an eBook or online course, and selling it online.

As with all passive income strategies, earning money this way will require substantial work up front. You’ll need to create the content (or hire someone to create it for you). However, once the content has been created, it can continue to make money as long as it reaches people who find the information valuable enough to pay what you are asking.

This means that you’ll need to market your product. Even an excellent eBook or online course can’t succeed if no one knows it exists. That’s why you should keep the following digital marketing tips in mind. They’ll boost your odds of making sales.

Offer Valuable Content for Free

digital publishing

Even if potential customers know about your product, they still might not purchase it if they aren’t confident you have the expertise to offer them genuinely valuable information. If you’re not an established expert in your field, you’re going to need to prove to leads that your product is worth their money.

One way to do so is to offer some free content demonstrating your knowledge. For instance, perhaps you’ve decided to publish an eBook offering personal finance tips for recent grads. You could promote it via a blog that offers similar tips.

Naturally, you don’t want the information in the blog to overlap too greatly with the information in your book. If it did, customers would have no reason to purchase it. You simply want your blog to make it clear that you understand the topic and can provide useful advice. This means that you need to be clear what additional value readers can expect from the paid product.

That’s just one example. You might also promote your digital product via a podcast, YouTube channel, or similar means. Just keep in mind that your main goal is to ensure your potential customers know they can trust you to offer real value.

Stay in Touch

Don’t make the mistake of assuming leads will buy your product as soon as they learn about its existence. Odds are good that won’t happen. It’s actually rare for consumers to buy products the first time they learn about them.

That’s why you need to make sure you’ve established various ways to stay in contact with your leads. A well-designed website is a necessity. You want your leads to have a resource they can consistently turn to when they want to learn more about your industry, product, and brand.

You may also want to cultivate an email subscriber list. Staying in touch with leads via an email newsletter remains one of the most effective ways to optimize conversions. Additionally, you should have a consistent social media presence.

Fortunately, there are numerous tools you can use (many of which are free) that allow you to automate email and social media marketing campaigns. This enables you to create content ahead of time. All you need to do then is schedule when you want an email to be sent or a post to go up on one of your social media pages.

Submit Your Product for Reviews

e-book

There are numerous sites and online platforms that offer reviews of eBooks, online courses, and similar products. Often, these platforms allow creators to submit their products for review directly. Consider this option if you believe your product will earn high praise. If a source that customers trust gives it a positive review, your sales will almost certainly increase.

It is important to choose a review site that is well-known to, and well-respected by, your prospective customers. Additionally, make sure that your product is polished and ready to be reviewed by experts on the topic. Negative reviews will only damage your business.

You may also want to ask former and current customers to review your product on social media or to offer testimonials for your website. You want to boost “social proof” to convince others your product is useful enough to justify a purchase.

Contact Anyone Who Can Help You Spread the Word

When developing a marketing plan, you should consider what social media influencers, industry professionals, and publications could help you spread the word about your product. How can these sources be leveraged to reach prospective customers?

For instance, maybe you’ve developed an online course that teaches customers how to start their own home businesses. In this case, you might promote it by submitting press releases about your course to blogs and publications that offer similar advice to budding entrepreneurs. Additionally, you may contact journalists and/or podcast hosts who you believe might want to interview you.

Regardless of the promotional opportunities you seek, remember to be clear about what differentiates your product from the competition. You do not want to be just another option in a sea of possibilities. What makes your product uniquely valuable?

Remember, a strong product alone doesn’t guarantee success. You’ll need to market it effectively before word-of-mouth alone begins to generate ongoing sales. These tips will help.

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