Why Creating Digital Products To Sell Definitely Makes Sense! Part Two
Now that you’ve had a chance to read part one of this ongoing series. How do you feel about strategically creating digital products to sell? You can see and appreciate the potential long term profitable advantages, right?
You and I or your major competitors create some type of extremely helpful content just once. Yet you can and definitely should continuously leverage it from now on.
In some cases you can create the digital content. And allow either your top JV (Joint Venture) or cross promotional partners to sell your low end digital product.
And allow them to keep 80 – 100% of the front end gross profits. after you cover costs of course. 😀 And you and I or your major competitors keep 100% of the long term back end gross profits. How cool is that?
Increasing Revenue Doesn’t Automatically Mean You Have To Get The Initial Front End Gross Profit!
If you, (like me!) Created a 50 page special report. Titled ” The Ten Most Common Marketing Mistakes Small business Owners Make! (And How To Correct Them!)
And this particular digital asset currently retails for $29.95 or X. Would you be willing to allow either your top JV (Joint Venture) or cross promotional partners to sell or give it away.
Knowing from a statistical standpoint. For every 100 or X number of them which ended up in your ideal prospects hands.
Your long term back end netted at least 17% or 17 one on one consultant customers. Who purchased at least one hour at $250 dollars per hour. (So I initially gross $4,250 dollars.)
And at least 5 of those 17, or just over 29%, also purchase at least 3 more hours for a grand total of $750 dollars. Or an additional $3,750 dollars. 😀 (5 x $750 dollars = $3,750 big ones. For a grand total of $8,000 dollars. $4,250 + $3,750 = $8,000 dollars gross.)
(Of course you can appreciate the above was just a hypothetical example. Used strictly for marketing illustration purposes only. 😎
Why Creating Digital Products To Sell Definitely Makes Sense! Part Two
Remember The Digital Products You Create! (You Control Them 100%!
Now then. Would you market. promote and advertise a digital product. You kept 100% of the initially front end gross profits. Minus your costs of sale.
But you can’t attempt to retail the PDF (Portable Document File) for more than it’s current retail price of $29.95. You can purchase basic reseller rights license for a one time payment of just $297 dollars.
(But they can also invest in a master reseller rights license. For a one time payment of $597 dollars or X.)
Which means you now get to sell it. Or give it away as a free “fast action” bonus worth X. For any of your prospects/opt in email subscribers. Or your paying customers who purchase one of your higher end products or services.
Forward Marketing Momentum Is A Very Good Thing!
Or for purchasing one of your higher end affiliate products or services. But with their master reseller rights. They get to resell only reseller rights to others.
(See if you can follow this rather basic profit generating model.)
You gross/net on average $11.98, (40%) out of every $29.95 report you sell. In other words. Your front end advertising/promotional costs average 60% or $17.97 dollars per $29.95 dollar sale. ($17.97 / $29.95 = 60%.)
Obviously, the faster you develop some proven strategies to lower your front end advertising/promotional costs. The more gross front end profits you will net.
Just Because You Don’t Own Some Of The Products Or Services You Sell! (Doesn’t Automatically Mean You Can’t Earn Big Profits!)
In the case of the above hypothetical marketing example. Let’s say after a lot of constant testing. You consistently get your front end ad costs down to 45 or X%.
Now you’re consistently pocketing the other 55%. (100 – 45% = 55%.) You think part of your long term back end income, could be teaching other aspiring entrepreneurs. How to lower their initial front end marketing/promoting or advertising costs.
Maybe one of your front end upsell offers. Is a reputable course or recorded Masterclass on not only being or becoming Facebook compliant. But teaching your customers how to set up a rather basic funnel.
Now you’ve got a product or service. Where you can charge anywhere from $297 – $997 dollars. 😎 Just depending on how much hands on help your audience wants.
And direct personal access to you. Via zoom, phone or email.
It’s A Mighty Good Thing You Definitely Don’t Have To Be A Genius To Create Value Driven Digital Products!
Digital content creation allows you or your major competitors to create multiple streams of income producing possibilities. You can create audio, video or written content.
Your self hosted WordPress blog can or definitely should become your central hub. This way you can control what type of content appears on your blog.
Plus you control “how” often your content will be published. 😎 You or your major competitors start consistently generating targeted traffic to your self hosted WordPress blog.
And if you want to. You can sell premium ad space to eager advertisers. And promote affiliate products or services. Any further questions about ‘why” creating digital products to sell. Definitely makes sense.
So Are You Gonna Start Creating Your Own Digital Products For Sell Or What?
P.S. Now as is customary during this part of our show. Please share your extremely valuable comments (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
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