Price Points For Digital Products – What You Need to Know

Having your own digital product is an excellent concept because it allows your buyers to instantly gain access to your product without the disadvantage of having to wait for it to be delivered via mail. They also gain access to the information right away so that they can instantly begin putting it to work for them. This is a huge advantage especially if you’re offering a “how-to” type of product or offering a product where you’re teaching your buyer something. Digital is the way to go not only do you gain something out of it by getting instant sales with very little effort, but the buyer also gains by not having to wait for the product. They can begin using it as soon as they pay. Think about this, imagine you are selling a marketing product to other online businesses. You know how quickly the internet changes. Imagine offering them access to proven tools and strategies that they can instantly use to grow their business.

If you’re offering a very good product with a strong offer, I bet most of those businesses would not hesitate one second to buy from you. They’d want to instantly put into action your strategies right away so that they can begin making more money as soon as possible. Digital products would allow them to do this. The instant download would allow them to implement what it is you teach within minutes and not have to wait a week or two for your product to arrive in the mail. That one or two weeks of waiting could cost them hundreds or even thousands of dollars simply because they’d be losing time – the time they could of spent implementing the strategies you teach with your digital product.

Of course, you’ll also have to price your digital product well in order to gain sales. So, what’s the best rule of thumb for determining the price point for a digital version of a tangible product? If your tangible product is let’s just say $997, what should you sell the digital version for? Well, the first thing you need to realize is that if you have a tangible product, and if you can create a digital version, this can work to your advantage.

What you can do is strategically create two different price points. For the tangible product that you’ll send them in the mail (which will take them a bit longer to receive), but they’ll have the convenience of having the hard good with them anywhere they went. They could comfortably read it on the sofa, relax at a local cafe or take it to the beach. They’ll have the convenience and comfort of the hard copy. So, you could offer it to them for $997. A lot of people place more value on hard tangible goods.

You could then offer those people on your list who refuse to buy a discount of 50% if they decide to purchase the digital version. So, you’re offering it to them for $497 – a $500 discount off of the retail price because you’re giving it to them digitally. That’s what I recommend since you’ll be able to make sales off of those customers who initially refused your offer because it seemed too expensive to them. The digital version gives them the option to still gain access to the product although they won’t have the advantage and convenience of the hard good. That’s actually how I did it on one of my product offerings.

What I did was I sold this package for $997. I made the offer online. I said, “…hey, this package is $997.” And then if they said no to it, what I did was I dropped it down to the digital version and they got it for half-price and they got it instantly! And I just realized I should’ve done that for all of my product offerings because that’s just quick digital cash! I’m just hitting myself right now for not using this strategy on all of my products, but better late then never.

So, if you want to tap into a market that may not have the ability to pay for your initial product offering, if you have a hard good consider a digital version. You’ll be able to gain access to cash that would have otherwise been lost. Look at all of your options and look at your market from every angle. There may be opportunities that you never knew existed.

Benefits of Selling Digital Products Online

I have found that when it come to making money online it is almost impossible to find a better way as to making money opportunity then selling digital products or services. You can sell your own digital product or you can offer other people’s products through affiliate marketing. You will find that there is a number of reasons why you should sell digital products as they can be superior to physical products. In the next few sections we will go over some of the benefits and reasons so you can get started.

A. You Will Not Have To Store A Product

Depending on what you are considering to sell online you may have to find a place to store your products. This could cost a lot of money if you do not have a digital product. You could use a drop shipper, here you will still sell someone else’s product and they store it and ship it for you, they may or may not use your business name on the package and invoices for you. If they do not use your information then your customers if they want to order additional products the will order from the shipper and they may not give you any money for the new sale.

B. You Want Easy Delivery

For this one reason alone was sufficient for me to not to go back selling a physical product. Nothing beats the fast delivery of a digital product through a download link. By doing this there is on work involved for you.

Should you sell someone else product or service or your own product or service there are a large number of options for you, I like to use http://www.clickbank.com.

By using http://www.clickbank.com offers you the opportunity to use their admin section and this gives you complete control of your data transmitted product. You will also find other people that will be willing to sell your product for you and click bank makes all of the payment for you and they will pay you also. They will take all of the worries out of your hand.

C. Great For Marketing

One of the priceless benefits of selling a digital product is that if you want to give it away as it will not cost you anything. If you give away a product you can do things like offering a free trial, hosting giveaways, or you can give away the product to other website owner in exchange for a product review or a banner advertising, If your digital product is a great digital product you can do a lot of internet marketing for free, this would normally cost you money.

D. Flexable Pricing

One of the most interesting marvels with digital products concerns pricing of your product. You can sell data transmitted products such as an eBook for a lot more on the internet then any physical book you could find in a book store. Should you have a rather long eBook can also come with other buying incentives such as a free bonuses you can even charge more, If you look you can find ebooks selling from $29 to $99 or even more. You can also sell Software, scripts, plugins and other types of digital products can sell for a lot when you combined with fast payments, there is no physical shipping or storage and you can quickly see how you can sell digital products online can be.

One of the biggest things to remember is you can have a fabulous product that can sell itself. You will need to do a large amount of online marketing a great product can get a lot of press by word of mouth. Now you need to get started and start to selling a digital product online.

Finding the Best Digital Products Online

Thanks to more and more people choosing online shopping as the perfect way to obtain products they cannot find in their friendly neighborhood supermarket. Is it still a surprise that there are so many sites online offering you an amazing range of digital products? These digital products include eBooks, tutorials, how-to books, and even software. Just imagine these digital products to be items that are present in your hard disk drive in a proper format. They can be downloaded onto another computer or e-book reader and then installed and/or read.

How to Purchase A Digital Product?

You may want to upgrade the software in your computer. You go to a website and look for the proper software needed to make your computer a state-of-the-art whiz machine. You then select the right software that best suits your needs, requirements and budget. After you have paid for that product, you are allowed to download it onto your computer through a download link. This download link is going to be provided to you by the company producing that particular software or product. This link may also be provided to you by the DP sale site owner, selling that product on his site through an affiliate marketing program.

Now, this bought product is going to stay on your computer hard disk drive forever. You can even burn it on a disk for preservation backup purposes.

In the same manner, you can buy any number of eBooks of your choice on different subjects and topics on a number of well-known websites selling different types of electronic based products.

Benefits of Buying Digital Products

Apart from buying a useful thing that does not have a physical bulky material presence in your house – these products are stored in your computer or on your e-book reading device – there are other benefits of buying them as well.

Many people buy top quality products directly from good websites so that they can sell them to other buyers. This is the basis of affiliate market selling. For example, there are many people who are interested in eBooks on weight loss and dieting. A number of best-selling authors who previously published these books in hard copy printed formats and had them selling in bricks and mortar bookshops are now making these books available in e-book formats. So, you can buy these very- much- in- demand eBooks from another site online and sell them on your website.

Affiliate Marketing and Reselling Digital Technology Based Products

The advantages of buying these products online – like best-selling digital eBooks – are manifold. You do not have to bother about bulky inventories and physical storage space needed for these items. You can sell them again and again and again. You do not have to bother about a middleman or a publisher taking his own cut for every item sold.

This normally happens when an author sells a hard copy of his printed book in a bookstore. In such a case, he just gets a percentage of the selling price in the form of royalties. However, this is definitely not the case when you are selling eBooks online through an affiliate marketing program or on your own personal website.

Now that you know all about the advantages of these digital products over physical material based products, you can choose to buy your choice of best-selling, extremely popular and fast selling digital products on good and well-stocked sites online right now! Choose the site that gives you the best variety of products like eBooks and software. Look at the customer rating and reviews before you choose a popular book or software.

How To Create Digital Products For My Business?

It’s easy to create residual income with digital products no matter what industry you are in. You just need to know where to start.

What is a digital product?

A digital product is something that is delivered directly to a customer electronically, usually over the internet. The possibilities are endless. You can deliver audio, video, books, worksheets, and even complete courses online.

With today’s smart phones, you pretty much have all you need in the palm of your hand. You can take photos, audio and video directly from your phone. You can upload them online directly from your phone. You can manage an autoresponder directly from your phone. You can even update a WordPress webpage directly from your phone.

No longer is the use of technology a barrier to creating great digital products.

What kind of digital product can I create?

The digital landscape is only tethered by your imagination. Here are a few examples I personally know about:

· A cake baker released some of her ‘secrets’ and created a six figure a year ‘side’ income using video training.

· A dog trainer created simple training and is making more than six figures with his business model.

· Just last week I was on a training call with a writer who is making seven figures after quitting writing and developing products for writers using a simple, and free, mind map software.

· Personally, I know a house inspector who is developing a software to help his business that he plans to sell to other inspectors. The software was already created, he just needed to make it fit his niche.

As you can see, there are opportunities no matter what industry or niche you are in. Just look at what you do for your customers. Look at what you know about building your business. I bet if you asked around you could find something that you enjoy either professionally or recreationally that could easily become a digital product.

Step One: Find a need

Every great product starts with a single problem. The key is to solve it better or in a unique way than someone else. I like to ask myself these three questions:

· Can I make something easier?

· Can I make something faster?

· Can I automate something?

· Can I introduce it to a new crowd?

Step Two: Connect with an audience

Find those people who would be most interested in your idea. Go into forums, social media groups or blogs and get to know them personally. While on these sites, take note of the problems they mention. Jot down the exact words they use to describe their problems.

Step Three: Create an outline and produce a product

Use Amazon or look at your library or local book store. Find a successful book and see how they outlined their training. Don’t steal their ideas, just use it as a guide as you make a product that is uniquely yours.

Step Four: Deliver the product

Use a webpage or autoresponder to deliver your product. Once you get some interest and gain some customers, you can pay to develop a different way to deliver your product like a membership site or an online digital store. The possibilities are virtually endless.

Why would people buy from me when they can get it for free on YouTube?

This is a great question. People want to have everything in one place. They don’t want to go all over searching for it. If you make it convenient and solve a real problem for your customer, they will want to come running to your products.

I recently saw a product released that was a two page document with links to YouTube videos and other training sites. People were buying this product like hot cakes because they saw the value in having all the resources in one place.

Conclusion

Digital products take up no inventory and can be delivered day or night without you having to be there. The key is to create a good system that does all the work for you. Then, simply create something that is so valuable and uniquely you, that people fall in love with your product and come running with their wallets open.