Creating and selling digital information products is a great way to add a steady revenue stream to your business. They are inexpensive to make, and there’s no inventory to store or keep track of. The only problem is that it takes a good bit of time and effort to create them in the first place. Often your largest time and resource commitment is the initial product creation. It should come as no surprise then that the most important part of the product creation process is coming up with an idea that will sell. While there is no guarantee that you’ll come up with a bestseller every single time, there are some things you can do to hedge your bets.
Focus On Problems and Solutions
Most of the bestselling information products help us solve a problem. This could be how to get the baby to sleep through the night, how to cook dinner in 30 minutes or less, or how to drive traffic with inexpensive Facebook ads. In each of these cases, there’s a problem and the digital product offers the solution.
Think about your target audience and the problems and challenges they face. How can you help them solve that problem? The more urgent or painful the problem, the easier it will be to sell the finished product. Look at what those around you are doing. There’s no need to reinvent the wheel, and there’s nothing wrong in with spying on the competition to come up with ideas. Piggyback on their efforts, or come up with a better version of what they have to offer.
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Test Before You Create
There are a few different ways to test a product idea out before you sit down to create it. The first and easiest method is to find a similar product to what you are considering developing and promote it as an affiliate. If it sells well, you can come up with your version, with a twist on what you’ve already shared with them.
Another idea is to presell your product before you create it. With this, you come up with the general idea and flesh it out just enough to grab your potential customers’ attention. Set up a sales page and a buy button, letting them know that they will be able to look over your shoulder while you create the product, or at the very least let them know of the delivery date. You could even create the first chapter or part, so they have something to download immediately upon purchase. If you make enough sales, you create the rest of the content. If you don’t, you refund the money you’ve made and move on to something else.
No matter what you do, be sure to do your due diligence before you invest the time and energy to create your digital products.