Digital products are easy to distribute and are pretty popular among customers due to their immediate accessibility and multi channel options to view them on.
Likewise for business like you, digital products have huge upsides, with the main one being that you just have to create your digital product once, and you can sell it multiple times.
Knowing how to market your digital product will be the key to its success as long as the product offers value to the customer. So, getting it to market and getting eyes on it is key. This article focuses on ways you can use for how to market your digital product well.
What is a Digital Product?
Before jumping on to the main topic, let’s first get a clear picture of what digital products actually are.
These are intangible products (or services) that can be sold over and over again. Interesting, isn’t it? These products are usually in the form of downloadable or stream-able digital files, like eBooks, music files, audiobooks etc.
But What to Sell?
This is a question you likely have in mind, and also the most important.
Look at your passions, skills and experience for topics you can focus on and then work our why digital format bests suits that particular niche or ide. For example, if you're good at mixing music, then you may want to product sound-bites in a audio format to sell. Self-explore the strengths and potential you possess; use them to look around for the existing and relevant opportunities and get started.
Moreover, while brainstorming about the product, do not forget to research the niche market you might want to cater to. Finding a gap in the market and filling it with your product is exactly what you need.
After deciding the target audience, dig into the prevalent issues and queries this particular segment has. Then, make it your job to solve them through your innovative niche product or service.
All this is followed by developing a sales page for your newly created product. This page will contain all the relevant details a potential customer needs to know. Along with the details, upload relevant images or videos. Furthermore, a sound and efficient payment method along with delivery mechanisms should be devised. A great and easy platform to create your own website and shopping cart is Weebly as its easy for anyone to use and set up, even if you don't have any website building experience.
Be careful, though; the pricing of your product or service should be done right. Choose the perfect pricing model; otherwise, it may be a disincentive for your target audience.
How to Promote Your Digital Product
The right marketing at the right time is crucial to any product, be it tangible or digital. This is what ensures increasing customer traffic, sales, customer retention, and therefore loyalty and trust.
The following are areas you can focus on to help you devise successful marketing strategy for how to market your digital product:
Sell a High-Value Product
The value here does not mean a product high in price, but a product that is high in its functionality that meets the needs and demands of its niche market and cures customers pain points. Therefore, your product's quality and value is the best promotion strategy because it will help sell itself.
In this phase, you have to basically create awareness about your product and let your customers know that you exist. In addition, create the needed hype for your product as there is high competition on online platforms. Therefore, you need to be quick and effective in creating brand recognition for your product.
For this to happen, you need to be vigilant and make sure you consider the following:
Optimize the Use of Social Media
Use all social media platforms to create hype and viral content. Post pictures and videos to create engagement on the page. In addition, you can arrange giveaways, contests, and polls. Engaging content means employing the existing and current trends; this can include meme marketing etc.
Videos are the New Black
Creating and publishing videos are the big thing in marketing now as videos are generating the most engagement. That time is not far away when social media will be all but dominated by video content. But make sure that videos or posts both maintain a consistent brand and excited tone to transfer the same excitement in your target audience as well. YouTube is a powerful platform for promotion here.
Another essential marketing strategy nowadays is influencer marketing. With more people stepping into this, we have a lot of influencers targeting their own separate niche. These influencers are the go-to people for many audiences, and their review or word is really looked up to.
They have a considerable following who really hang on to their every word, so getting relevant influencers on board can really level up your social media game. In addition, you can ask them to do direct or indirect marketing for your product. This will help your product be trusted, along with creating awareness of your product.
Your Email List Should Be on Point
This is one of the best tools to use for marketing your digital product. This is a ready-made audience that you can use whenever you have a special promotion or deal or even a new product category that you wish to market.
However, to make this more efficient, it is vital that you keep the list of people engaged and connected to your business. So keep sending interesting and relevant content to maintain their interest and also so that they are regularly updated.
Do not bombard them with sales promotion emails because they can get weary of your emails and will most likely unsubscribe if that is done. Use a email automation platform like Aweber to set up and manage this technique.
User Generated Content (UGC)
This strategy will help you create trust and credibility among your target audience.
You can incorporate testimonials and reviews by your customers for your products as this is the real world proof that customers look for in assessing whether a product is worth buying or not. This can also include hashtag campaigns that can get featured and a lot else. For this, also make sure that external review sites are aware and connected to your business.
Using Paid Advertisements for Marketing Purposes
Free advertising is always great, because you as a new online business owner may not have too much capital to spend. However, free marketing and things like using social media will only get you so far.
If you really want to get off the ground and target specific customers in a big way, sooner or later you will need to pay for advertising, and seeing as so many people use social media platforms like Facebook, it stands to reason that paying for advertisements on Facebook and other similar platforms is a great way to get the word out there.
Remember, Facebook uses targeted advertising, which helps to get your advertisements to the best possible audience, to the people most likely to buy from you.
Why Sell Digital Products Versus Physical Goods?
There are many reasons for this, but we’ll list just a few:
- It is less costly as there are no shipping charges or any other overheads that usually exist in physical products
- High profitability as you don't need to product or buy inventory
- E-learning is very prevalent nowadays and will be in the future; therefore, you can produce a lot of products in this industry
- Automated process with instant delivery options
- Infinite possibilities to play around with your product in terms of changing and updating it quickly and easily
- The exponential growth of e-commerce platforms and industry
- Easy maintenance
What Are Some Examples Of Digital Products?
Some popular digital products are:
- Online courses
- Software and tech
- Audio and music
- WordPress themes
What Kind of Digital Products Sell Best?
The most profitable digital products are:
- Audio files and music
How Much Marketing Budget is Needed for Launching a New Product?
It varies from product type to type. However, there are certain factors that it depends on, which are:
- Product nature
- The estimated volume of the target market
- The medium that is being used, like social media, advertising, print media, etc.
- The target market’s geography
However, generally speaking, businesses usually dedicate 20% of the total expected revenue towards marketing efforts.
Recommendations for Promoting Your Digital Product on Social Media
In this digitized world, and especially when operating in the online business industry, social media is the key to success. Therefore, devising and implementing the right strategies using this medium will give the needed boost to your online business.
But with much development in this arena, there have been some really amazing tool creations that can definitely elevate your marketing game.
So, do not shy away from using external tools or online resources for your marketing. Here is our review of a few we use at emilyandblair.com and recommend:
Social Pilot is a great social media marketing tool that handles scheduling and posting of content on social media platforms.
What We Like
The feature of bulk scheduling, which helps save time and give peace of mind.
Hootsuite is a centralized medium where you can monitor different social media channels and their posting and other features.
What We Like
Free, pro, and enterprise licensing options. Of course, the fee for the services increases as your business’ campaign or marketing does.
The digital product industry is seeing and will continue to experience exponential growth in monetary value and volume. Stepping into this industry means facing many competitors, but you can definitely go a long way if you successfully identify a niche and cater to it. Accompanied with that, the right and relevant marketing strategy is the need of the time.
In this article, we have provided you with a range of methods for how to market your digital product. Now you should sit down and plan out a digital marketing strategy to suit your business in terms of product, niche, competition, advertising budget and so on. Once you have a plan, look to set it up with what ever software and platforms you decide to use to help automate and streamline this plan for you. Remember, the software is your friend and saves you a lot of time so don't be afraid to subscribe to these services as that's the real way to grow consistently and quickly.