The first time I made $100K selling digital products back in 2019, I knew I was unto something.
Here are 7 Invaluable Lessons From Making My First $100K With Digital Products (Plus a bonus one).
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Here are 7 Invaluable Lessons From Making My First $100K With Digital Products (Plus a bonus one).
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1. Marketing is everything
Promotion is just as important as the product.
Creating a product doesn't make you a single cent.
Marketing and self-promotion do.
Create a high-quality digital product.
And market the hell out of it.
Promotion is just as important as the product.
Creating a product doesn't make you a single cent.
Marketing and self-promotion do.
Create a high-quality digital product.
And market the hell out of it.
Overwhelm the algorithm by promoting it like crazy.
Most people avoid it because they're scared others will call them sellouts.
These people are NGMI.
You, on the other hand, understand that this is how the game is played.
Promote. Promote. Promote.
Most people avoid it because they're scared others will call them sellouts.
These people are NGMI.
You, on the other hand, understand that this is how the game is played.
Promote. Promote. Promote.
2. Waitlists are a must
The waitlist helps you measure the interest in your products.
Think about this.
People give you their names and emails.
You now have direct access to them.
And all you have to do is send them an email once your product is ready.
The waitlist helps you measure the interest in your products.
Think about this.
People give you their names and emails.
You now have direct access to them.
And all you have to do is send them an email once your product is ready.
3. Urgency is 100% necessary
Always tell your buyers that they either:
1. Miss out on additional bonus if they fail to purchase before the deadline
or
2. The price will go up on the deadline
or
3. You'll close enrollments after the deadline
This is non-negotiable.
Always tell your buyers that they either:
1. Miss out on additional bonus if they fail to purchase before the deadline
or
2. The price will go up on the deadline
or
3. You'll close enrollments after the deadline
This is non-negotiable.
Urgency gives people the extra encouragement they need to commit.
Urgency is a persuasion technique that triggers the feeling of missing an opportunity when a deadline arrives.
Use it.
Urgency is a persuasion technique that triggers the feeling of missing an opportunity when a deadline arrives.
Use it.
4. Some products won't sell well no matter the price
Not every product you create will sell well.
For example, in 2019, I launched a productivity course.
It flopped even when I poured money into curating its visuals and sales copy.
Not every product you create will sell well.
For example, in 2019, I launched a productivity course.
It flopped even when I poured money into curating its visuals and sales copy.
I literally lost money getting it published.
Why?
I didn't research my audience well before creating the product.
I created it on a hunch.
And I paid the ultimate price.
Why?
I didn't research my audience well before creating the product.
I created it on a hunch.
And I paid the ultimate price.
5. The big money is made after the sale
What separates the big shots from the beginners is what happens after the sale.
The beginners never upsell to their premium program, big shots do.
What separates the big shots from the beginners is what happens after the sale.
The beginners never upsell to their premium program, big shots do.
Upselling means making people buy an upgraded version of your product or a more expensive one that's related to the one they just purchased.
You can upsell your coaching service or other courses.
Just make sure these offers are related to the one they bought first.
You can upsell your coaching service or other courses.
Just make sure these offers are related to the one they bought first.
6. Conversion rate predicts the future
The conversion rate is the number of sales divided by the total number of visitors your product got.
For example, if your product gets 100 visitors and you make 10 sales then your conversion rate is 10%.
The conversion rate is the number of sales divided by the total number of visitors your product got.
For example, if your product gets 100 visitors and you make 10 sales then your conversion rate is 10%.
Discover your conversion rate.
And you'll be able to predict the future.
And you'll be able to predict the future.
7. 300 clicks a day keeps the 9-5 job away
Getting 300 daily visitors on a sales page that converts at 5% gets you 15 sales.
If that product costs $25, you'll be making $11,250/ month.
If it cost $50, you'll make $22,500/mo.
If it cost $100, you'll make $45,000/mo.
Getting 300 daily visitors on a sales page that converts at 5% gets you 15 sales.
If that product costs $25, you'll be making $11,250/ month.
If it cost $50, you'll make $22,500/mo.
If it cost $100, you'll make $45,000/mo.
Knowing your conversion rate and your average daily views lets you predict the future.
Know thy numbers.
Know thy numbers.
8. Creating a digital product is easy.
All you have to do is set the habit of creating a tiny bit every day.
This is literally how I create all of my products.
I write, I record, I edit.
Today, I mostly write and record.
And I delegate the editing to my team.
All you have to do is set the habit of creating a tiny bit every day.
This is literally how I create all of my products.
I write, I record, I edit.
Today, I mostly write and record.
And I delegate the editing to my team.
Most people get stuck because they can't get out of their heads.
"What will people think?"
"Will they hate it?"
"Will it sell?"
You'll never know if you don't create the product.
So go ahead.
Start small.
Create, edit, publish slowly.
"What will people think?"
"Will they hate it?"
"Will it sell?"
You'll never know if you don't create the product.
So go ahead.
Start small.
Create, edit, publish slowly.
To summarize
1. Marketing is everything
2. Waitlists are a must
3. Urgency is 100% necessary
4. Some products won't sell well
5. Big money is made after the sale
6. Conversion rate predicts the future
7. 300 clicks a day keeps the 9-5 away
8. Creating a digital product is easy
1. Marketing is everything
2. Waitlists are a must
3. Urgency is 100% necessary
4. Some products won't sell well
5. Big money is made after the sale
6. Conversion rate predicts the future
7. 300 clicks a day keeps the 9-5 away
8. Creating a digital product is easy
If you liked the thread,
1. Share it
2. Follow me @joserosado
I talk about:
- sales & persuasion
- making a living in the digital economy
- growing an agency to $1MM in sales
1. Share it
2. Follow me @joserosado
I talk about:
- sales & persuasion
- making a living in the digital economy
- growing an agency to $1MM in sales
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