How to Launch Digital Products for Your Small Business
By, Dawn Yerger
Ask the Expert: How do I branch out from offering only coaching or consulting services, and begin launching digital products, like e-books, coaching programs, teleseminars and e-courses?
Answer: Creating digital products can seem like a daunting task, especially if you are a new consultant or coach, or, if you’re not technically savvy. Having a strong grasp on your marketing niche and your area of expertise, is of utmost importance. When you are armed with this information, you will have a good gauge on the types of products that your niche market needs the most. The seven steps below will give you the direction you need to create a digital product or coaching program that will add value to your business, more money to your bottom line and allow you to reach a larger number of clients and customers.
•First, take inventory of your skills and services. It is important to know what your professional strengths are and what your current clients come to you for the most. Your products must not only reflect your expertise and knowledge in your field, but must also offer significant value to your customers.
•Second, you do not have to start from scratch. Go through some of your old notes or recordings of your previous presentations. Compile this information, and use it as the foundation of your future products.
•Third, decide what problem your product will address. This is why it’s so important to know your niche market. What specific problem can this product address? Make sure that it is an issue that you can explain without needing to be right there in front of or on the phone with your client.
•Fourth, select the format of your product. The format of your product depends on the theme or topic that you’re presenting. If you want to help your clients start a business within a two-month time period or create and define their brand, you may want to offer a coaching package or e-course. If you want to address a singular topic like time management or SEO marketing, you may be able to put it all in e-book form. Many times, you’ll find that your topic can lend itself as a program and an e-book. If so, you may decide to offer them separately and together as a package.
•Fifth, gather testimonials from current clients. Your current clients love you and know you best. Ask them for testimonials and find out why they love your services so much. Get them in written form and use them in the promotional material for your new product.
•Sixth, partner and collaborate with other professionals to create and promote digital products. Partner with someone who is also serving your niche market and team up with them to create a teleseminar series or package that will meet different areas of your niche market. You may offer brand coaching, while your partner may offer copywriting instruction. Work with this partner to bring the most value as possible to your client base.
•Lastly, determine the value of your product. How much are you going to charge for your digital products? Many people have a hard time deciding on the price of their digital products because they aren’t physical. Here are some considerations to factor in: how much do you charge by the hour? What is the value of the product in relation to that amount? Will your customers get some one on one time with you along with the product?
Note: Dawn has first hand experience in developing digital products. She created and launched her first coaching program and its sales page, in less than a week. She has also created various teleseminar workshop packages and e-courses as informational products to her niche market. She is currently working on an a new coaching program titled “P.O.L.I.S.H.ed Personal Branding”and an e-book titled “The Brink: How Women Entrepreneurs Resurrected Their Businesses & How You Can Do the Same” featuring the stories of prominent women entrepreneurs, which is due to launch Summer 2009.