157: 3 Tips for Selling Your Digital Products the Easy Way

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Welcome to the Creators MBA Podcast, your go to resource for mastering the art and science of Digital Product entrepreneurship. My name is Dr. Destiny Kopp and I help business owners craft robust growth strategies that combine the magical world of digital products and selling them via automated funnels and savvy e commerce practices. Join me as I unravel the secrets to boosting digital product revenue and designing long term business growth. From exclusive interviews with industry leaders to in depth analysis of successful digital product models, this podcast is your guide to thriving in the digital product marketplace. So sit back, relax and enjoy the show.

If you are wanting to increase your digital product sales this year, then my friend, you are in the right place. Whether you have a membership, low cost digital products like a mini course, or planners or journals or templates or swipe files, or even a higher priced course like your signature course. Today I wanted to walk you through three ways for selling your digital products. The Easy Way I think sometimes we make this more difficult than what it needs to be true. You need leads when you're a digital product seller versus let's say a service provider. You need a steady stream of leads for the most part coming into your business and a decent sized email email list. It doesn't have to be tens of thousands of people, but you need an email list. When you have a steady stream of leads coming into your business. Whether that is through guest podcasting, Facebook ads that you're running, a speaking opportunity that you're doing, or maybe even a collaboration that you are doing with another business owner, you have been given the perfect opportunity to sell your digital products the easy way. This is why I place such a high importance on visibility in my business. So let's say and assume that you have all of this in place. Here are my best three tips on how you can sell your digital products without a huge complicated launch. And the first is through a Tripwire funnel. Essentially, a tripwire funnel is a low cost, high value offer that follows the initial contact with a potential customer and this is usually through your lead magnet. So the psychology behind the strategy is rooted in the fact that you're getting a commitment from that customer, right? So once that customer makes a small initial purchase, they are more likely to engage in further transactions with you and further business with you. The effectiveness of a tripwire funnel is that it is simplistic, right? And it has that psychological commitment. So by making that initial small purchase, customers are invested in your brand and that makes them more receptive to any higher priced offers that you might present to them in the future like your signature course or even a service or a coaching program that you offer. So here is exactly how a Tripwire funnel works for digital products. The first thing you're going to have is your lead magnet, right? This is what you're going to give away as your free gift. So if you're speaking at a virtual summit or you're a guest on somebody's podcast, that's what you're going to present to people. That is their first interaction with you. And your lead magnet is going to give them some, a lot, a ton of value and it's going to give them something that they absolutely want to have. You can give away like an ebook or an exclusive video or audio series or templates or swipe files and they're going to give you their email address in exchange for that. Now, after somebody opts in for that free gift, that lead magnet that you're giving them, you are going to present them a low cost, no brainer type offer. So this offer is going to be related to your lead magnet and it's going to be priced irresistibly low, just enough to break the mental barrier to purchasing. So it's not going to be a 200 course, it's going to be a low cost digital product. You know, if you're in the B2B space, it could be like a $37 offer or $49 offer with maybe even a coupon built in, in the B2C space. It might even be a little lower than that. So what, somebody goes to that Tripwire sales page and they click the purchase on the cart checkout, you might even have what we call an order bump. So they're purchasing the Tripwire offer and you're going to give them something even amazing that's related to that, that's super cheap. Maybe a $7, $5, $9, whatever, just a little bit order bump. And that even increases your average order value. And then after that initial purchase, immediately you might even have some upsells there. So these are going to be normally these are going to be higher priced options or items or offers, digital products that complement your Tripwire offer. And it just really enhances it. So it just takes their learning and the value that you're giving them in this funnel to the next level. So here's kind of the benefits, if you would, of a Tripwire funnel. Number one is customer acquisition, right? You're getting that immediate customer, they're signing up for your lead magnet. You're giving this them this, you know, hugely valuable offer. After they sign up for your lead magnet and it's a low risk type, high value offer for them and it allows you to convert that lead into a customer right away. The other benefit of a Tripwire funnel is that you increase this average, what we call an average order value. So you have the opportunity there for them to buy the Tripwire. And then if you have an order bump on there, you can have that order bump and then you can have those upsells in addition to that. So let me give you a real life example of this. So let's say that you are an online fitness coach and you have a free ebook titled 10 Quick Home Workout for Beginners. Okay? So that's your free gift, that's your lead magnet. People who sign up for it, they are immediately offered your mini course on nutrition basics. So that's your Tripwire offer. And let's say for sake of argument, it is priced at, you know, $17. Okay? So they're getting that little mini course on nutrition basics. And then on the checkout page you have a little order bump there. Let's just say it's a meal planning type order bump that you're selling for $7. So now you have the lead. So you're getting the lead no matter what. Right? Even if they didn't buy your tripwire, they're going to the checkout page, they're buying your mini course, they might even be signing up for your order bump. And then after that maybe you have a membership, like a fitness program membership, and then you give them that offer as an upsell. So there's a lot of opportunities there for converting that new lead that you have into a customer and increasing the average order order value. So there you go. That's how a Tripwire funnel works. And if you have a lead magnet out there, I would love for you to have this tripwire funnel on the back end of that just to get those immediate customers and increase your average order value. And that will definitely put them in a place that they're going to be more likely to buy from you in the future. Now my next tip is leveraging what we call an evergreen funnel. Okay, so let me explain what this is. And this is a little bit different from a Tripwire funnel. So an evergreen funnel is basically a marketing strategy that remains continuously out there. Like this funnel is always out there. It's attracting leads and it generally includes a lead magnet such as a webinar and a series of follow up emails. And your core offer generally like your signature type offer. Right? So the beauty of something like this. The beauty of an evergreen funnel lies in its ability to automate that customer journey from the initial interest to the final purchase without the need for you to constantly intervene, you know, and market to them. Now I will tell you that an evergreen funnel is, can, can be a little bit more difficult to set up than a tripwire funnel. And the challenge is, number one, you're generally selling a higher priced course, right? You might even be selling your signature offer, your signature course through an evergreen funnel. So you have this webinar, then you're going to have these series of follow up emails and then you're going, you know, throughout all of that, whether it's at the end of the webinar and your follow up emails, you're going to be making the offer for your signature course. So let's say for sake of argument here that your signature course is $1,000, right? It is more difficult to encourage somebody to or make an offer of a thousand dollar course than it is for like a $27 tripwire. So it is a little bit more difficult to optimize them, but it absolutely can be done. So when you are setting up an evergreen sales funnel, one of the things that you will work extremely hard on is optimizing your webinar content. So a webinar is generally what you're going to use in an evergreen funnel. So it's going to provide a ton of value, but most importantly it's going to address that migraine that is faced by your target audience. So the key for this webinar content is to create content that remains useful and engaging. And you may have to update your webinar content over time. Generally if you launch a webinar, you're going to have to keep it updated, right? And refreshed and continually to address the pain points that are, you know, that your ideal customer has because they do change over time. So once you do a webinar and you might have to go out there in every, you know, quarter or ever, definitely every six months, go out there and update, update that content just to make sure it's fresh and updated. The other thing that you're going to need to work to optimize in an evergreen funnel are your sales email. So basically how an evergreen funnel works, somebody signs up for your webinar and they're going to be given a certain amount of time, let's just say it's seven days to make a decision to get this special offer. So maybe you have a thousand dollar course. But in this evergreen Funnel, they can sign up and get your course for $300 off. So $700, let's just say, say that's what we're doing here. So in those sales emails, you're going to have to be extremely persuaded, persuasive, you're going to have to build trust and interest in your offer. So you're going to have to do a little balance in your email of informative content, educational content, with persuasive calls to action, getting people to, you know, move towards that purchase. So like I said, they can be a little bit more harder to optimize, but they are still so very powerful. Okay, my third way to sell your digital products, the easy way is by you utilizing an everything page or an e commerce store like Shopify. So let's say that you're a digital product seller and you have quite a few digital products to sell. Okay? So in this example, let's assume that you have 15 digital products. One of the ways to sell them that you can point people to like in your weekly newsletter is what we call an Everything page. Now I want to give credit to my friend who came up to the, came up with this concept called the Everything page. It's Elizabeth Cotter and I'm going to put the link to her. I think it's like a nine dollar course where she walks through how to set this up and exactly what it means. But basically what it, it's a centralized hub where customers can explore and purchase your digital products. So it's hard, right? When you have 15 digital products, it's hard to continuously market them. But if you have an everything page that goes over all of your digital products and maybe even some services that you have, that gives you a central hop to point people to so you can put, put them or I should say point them to your everything page on your website so you can have it like in your top navigational bar in your weekly newsletter. You can have like a P.S. in there if you, you know, if you want to see everything I have to offer, you can go to my Everything page. So there's a lot of benefits to creating something like this. Okay, now you may be asking Destiny, what's the difference between an everything page versus a Shopify store? And I'm glad you asked. Now personally, I think that most of us out there, an Everything page is going to be all that you're needed. Now if you have hundreds of digital products like what we do in our hello Content store and what we are uploading in our hobby, hobby school store, you're going to need an E commerce platform like Shopify or Woocommerce or something like that. And that gives you the ability to point people to your store where they can go in and add multiple products to their cart very easily. Okay, most of you aren't probably going to have enough digital products to justify the cost and the marketing that's to going to be required for a Shopify store like that. So an Everything page is going to be all that you need. And actually I was asked recently in a podcast interview that I was doing because I was in the process at that point, I think we were recording this in last quarter. So I was in the process of launching our Shopify store for hobby school. And the podcast interviewer asked me, you know, what do you think kind of is that threshold of when we should go like from an Everything page to an E commerce store? And I said, you know what, that's a very good question. I said, I can tell you that for hobby school we had about 25 products at that point in time, but I knew that we were going to have, you know, 100, 200 products very soon. We're not quite there yet as I'm recording this particular episode, but we're getting very, very close. And so it made sense for me to go ahead and set everything up in a Shopify store. But if I were, you know, a digital product creator and I had like 15 products, I would opt for an everything page. I think that just makes more sense because the, you know, obviously I've done them. We have two Shopify stores. They are a lot of work. It's extra expense. You do have to treat them like an E commerce platform. So you have to continually email your list and highlight products in your store because people don't normally just, oh, I'm going to go shop. You can't just say, oh, visit my hello, content shop. And they're going to go there and search around and find stuff. You normally have to point them to a specific product in the shop and then once they're there, they're going to be more likely to add additional products to the, to your cart. So I'm going to put the link for Elizabeth Goddard's course where she walks you through an Everything page just so you can see it, get a little bit more information about that. But again, I think that's probably the best solution for most of us out there. So there you go. That are, those are my best three tips to sell your digital products the easy way. If you have any questions whatsoever or just want to learn more about my coaching services. I have a digital product accelerator where I help digital product creators just like you grow and sell grow and scale their digital product businesses and I would love to talk with you a little bit more about it, but if you have any questions whatsoever about selling your digital products, the best way to sell your digital product in the situation that you have, I'll be more than happy to chat with you about that. Bye for now.

Now before you leave, I want you to grab your free planner where I will help you plan out your profitable evergreen sales funnel. In this planner which is valued at 49, I will help you map out the sales steps needed for your evergreen sales funnel so you can confidently get started. I will also help you understand what lead magnets you will need to attract those action takers so you can fill up your funnel with your ideal customer. Now this free planner also comes with audio training so click the link below and grab your free planner today.