Empower Your Business with a Digital Product Sales Funnel for Product Quality

How to create outlook signature

one listing a day better pictures more SEO stuff keywords in there hop on the latest trends don't show people your product and hide it like it's some kind of sacred thing this is all stuff that you've probably heard when you look up how to sell digital products online and that's because there's been this kind of over Reliance that's been built on quick hacks Band-Aid fixes relying on things like Etsy or gumroad to be able to sell your product for you and people aren't getting the real answer to how to sell digital products online and I get it it sounds really easy for you to just take a product slap it up somewhere and then sell it but in reality there are some major flaws with relying on marketplaces like Etsy when it comes to selling digital products and so after watching like 73 videos of how to be able to get rich quick with Etsy I've pointed out three major flaws with a lot of these strategies that are here and in today's video we're gonna Crush those flaws and show you what you can do to overcome them and not have to rely on Etsy to sell your digital products hey everybody if you don't know who I am my name is Doug and my wife Haley and I run a seven figure digital products business so when we talk about stuff like this we kind of know what we're doing but before we get started if you're looking to take steps now to start an online business go check out down in the description below our free five day challenge zero to 100K in 12 months or less with digital products I promise it's totally worth it everybody loves the value that's in there and enough of that let's go ahead and jump into the video okay so there's three major flaws that I see kind of all over the Internet when it comes to selling digital products online and whether that's on a Marketplace or Shopify or whatever it might be these are those three things okay the first thing is lead flow which basically just means how many people come and see your digital product the second thing is price competition because pricing is generally thought of as like a defining factor in decision making when people buy a digital product and the third thing is scalability which is almost something nobody ever talks about so let's go ahead and start with lead flow okay one of the reasons why people run to places like Etsy so often is because Etsy is a Marketplace because Etsy is a search engine and I get that lots of people flock to search engines just like Amazon even okay it is a viable source of traffic but the thing is that just because you list there doesn't mean you're gonna get a lick of that traffic okay you have to compete in the search engine results Pages for you to be even see a portion of the traffic that's there so the search engine again and whatever Marketplace that is that you're on is what's controlling the lead flow and you'll never know exactly what a 100 accuracy how to work that search engine I used to actually work in SEO my job was to help people rank in Google and I was really good at it but even if you're really good at it even if you think you're the best at it you will never have 100 control over organic lead flow in a Marketplace and that's because you can't just add more SEO it doesn't work that way you can't just flip a switch or turn a knob make more SEO like I've heard people say that like oh you just need to SEO it more like that's not really how it works okay it's a long-term game and a long-term plan and there are other various factors in different types of marketplaces that are going to affect whether you rank or not so what that means is that there's no real input to get your output now if you want to run ads go ahead and run ads but if you're here watching this video you probably don't have the capital to run ads so the point being with that first flaw of the system is that if you're just going to rely on a Marketplace if if you're just going to rely on an algorithm you don't have full control over that algorithm it can change at any time and you don't really know what factor was 100 accuracy what's going to get you to rank now let's say that maybe you can Rank and you can kind of try to figure out lead flow that's fine then what happens is is that as you're selling your digital products and you're trying to compete you start to realize it's kind of steep competition when it comes to pricing digital products are known to be historically low price I mean I've seen some in the like one or two dollar prices and when people are trying to really lower their price to try to get more sales I've seen some under a dollar which like makes no sense to me because when you sell in a Marketplace there's a certain percentage that goes to those marketplaces so let's step back from digital products for a second and just think about why people buy products in general okay people buy products because there's a certain aspect that they like about it sometimes it's like brand related sometimes it's quality related but with a lot of places like Walmart for example Walmart's a great example of price competitiveness the way they get people to shop there is through price and it's the same thing with a lot of the top products on digital Marketplace cases is that in order to get more sales because their products are so similar because there's nothing really to help them stand out they have to be price competitive and so they keep dropping the price lower lower which means lower lower return now the way to be able to get around that to not be price competitive is to have serious trust with your buyers but in order to get serious trust with your buyers you need to have reviews and people need to be able to see those products in the first place and if you can't get the sales to get reviews you kind of get where I'm going with this it's kind of a chicken and egg thing we actually saw this ourselves yes it's happened in physical products but our physical product that we used to sell was a baby car seat cover and it was about 14 it was about 14.99 15.99 somewhere around there but when competition comes in and people with more resources or people with more time or people with more trust in the marketplace can find a good product then what they'll do is they'll just drop the price a little bit and they can price you out if they have additional resources and that's not something that's unfamiliar in the digital product space as well so if you're competing with somebody that can afford to drop their six dollar product down to 550 and you're already tapped out in your margins it's kind of hard to compete with that now the third concern that I have with a lot of the strategies out there is scalability you're doing this because you want to be able to retire you're doing this because you want to be able to quit your job you're doing this because you want to provide for your family you want to do something big right and so you can't expect that you're going to be doing that with a two three or four dollar product and there's only a couple of things that you can do to truly scale a digital product business and when I say scale I don't mean over four or five years I mean like a hockey stick like hockey stick growth have you guys ever seen that where it's like you know the bottom of the hockey stick where they hit with the puck I don't play hockey so I don't know what the terms are but like the base or the bottom of the stick where you're actually slapping things the face of it is very short like this but then the actual stick and the handle that you're holding goes way up like that and so that's the kind of growth and scalability that you want to be able to see it's hard to do that through a Marketplace the two most common ways to do this are to just flip a switch and instantly turn on more sales which if you could do that you probably would have already or the other way is to just increase the price on your product and if you listen to the second point video you know why it's hard to sometimes increase the price when you have to constantly be decreasing it to be competitive but let's just assume that you can in fact still raise the price in some way right so if you sell a five dollar digital download and you sell 50 of them a month then you have 250 dollars in gross sales and if you somehow add two dollars to that price to go from five dollars to two dollars for let's say your Excel budgeting spreadsheet that you have then you'll net an additional hundred dollars for that month that's not too bad but if you need five or six thousand dollars a month in order to be able to quit your job raising that price from five dollars to two dollars isn't going to do anything we need to be able to 10x something like that okay so what is it that we need to actually do instead what do we need to do to make sure that when we put an input we get some type of scalable output out of it and what is it that we need to do to make sure that we're not being price competitive and what can we change to make sure that when we are doing this it's not just a few dollars or a few hundred dollars even it has the potential to be thousands and tens of thousands and so what is the Catalyst for all this change how do we actually fix the fix and not just Band-Aid it well you need a personal social media brand now I get it look Don't Run Away everyone wants to run away whenever they hear starting a personal social media brand but that doesn't mean you need to show your kids show what you're eating tell people where you are or dance on reels or do things like that that's not the point what we're trying to do is to alleviate those three flaws and those three concerns when it comes to selling digital products online and it's easy to do with social media and so here's why social media fixes those things okay the first thing is that social media gives you a way to have an input okay unlike SEO or those other things if you change things there's no guarantee that there's going to be any outputs from changing them but in order to get more leads or in order to get more eyeballs on your products or your brand all you got to do is post more and I get it some people are like but you have to rank and still do other things but at least I can put up 500 posts a day I'm not saying that we're going to do that but if I put up 500 posts a day I have a chance that I'm going to be able to rank if I make 500 changes on a listing there's no guarantee T that the algorithm will ever pick that up so you are literally in control of the fuel that you put onto the fire when it comes to lead flow for a digital product when you use a personal brand on social media and so all you have to do is just create content that is related to the product that you're selling you don't have to sit there and like I said dance or do viral reels pranks or things like that that's not what social media is nowadays social media is just sharing your solutions to the problems that you've had with other people you're just going to do that through your digital product it's really easy to do now the second thing that social media and having a personal brand does is it lets us to get rid of the need to be price competitive so why do people pay more for Nikes or why do people pay more for Adidas or whatever kind of like running shoe people are using I wear mizunos usually or Asics so why do people go with like a Nike over an Adidas or why do they choose like an A6 over another type of running shoe and there's like 47 different brands of running shoes that are out there well they do it because of branding and why can't Hermes charge twenty thousand dollars for a space handbag you can get something that has other rocket ships on it on Amazon for like 19.99 it's because of the brand and its perceived value that the brand has established you see when people know about a brand and when they know about the Brand's values and they know what the brand represents and they know what the brand does and what it means and all the work that goes into the brand and the products and there's a story that's built around these things people are willing to pay more even if there's an equivalent same exact product that exists and it's because they care more about that brand in that company and when you try to sell something on Etsy for example that's hard to do without putting your face on there and having some type of brand next to your Etsy Shop okay it's hard to actually create that trust and hard to make it to where people are willing to pay 5 10 15 20 or even like hundreds of dollars more for your product if there's no brand or values behind it and so a generic no-name template is never going to not be price competitive if you have a brand with a face with a name with values and that helps people solve their problems so they have developed trust with you people are going to be willing to pay whatever to be able to get your product or your services and so the last thing is that social media allows you to scale at will again the two things that you need to be able to scale or just increase your lead flow or increase your prices and as you've seen social media helps you do both you want more lead flow get more eyeballs you want to be able to post more it's easy to do to be able to increase the amounts that's there when you're on social media okay and on the other side if you feel like you need to be able to increase your prices or you need to create a new digital product that is instead of like a seven dollar template maybe it's a 197 course or a 997 dollar coaching program you can do that if you have a personal brand because people know who it is that you are people know what you're trying to do people know what you're trying to help them when people know where your values lie so you have control over your brand and that's also one other thing about staying away from marketplaces like Etsy is that you don't really have full control over that if Etsy decides to shut down Etsy will go ahead and shut down if they want to turn off your store for some reason they'll go ahead and turn it off and so of course if you are doing a personal social media brand you can still drive traffic to Etsy that's not a big deal but the whole point of it is not to be completely reliant on it and think that these quick fixes that a lot of people talk about on YouTube nowadays are going to be the thing that makes you financially independent and again look you don't have to be a vlogger you don't have to be some kind of beauty vlogger mommy vlogger Guru person to run a social media brand okay that's not what this is you don't have to show your kids you don't got a show like where you live or the things that you do every day you have to just create the content that people want to see that help solve their problems that's related to your digital product and if you can do that and show how that product has helped transformed you then maybe they'll want that same transformation as well okay so there you have it what do you guys think I know lots of people are very against social media because they are against this like stigma of work and putting effort into something that has longevity to it everyone wants the Quick Fix and the quick hack and that's not going to be the thing that changes your guys's life so if you got thoughts on this I want to hear them put your thoughts down in the in the comments below and again if you want to be able to change your life go check out our challenge our zero to 100K in 12 months with digital products challenge totally worth it and I will see you guys in the next one [Music] foreign [Music]