Since you’re reading this, my guess is that you have an idea about something you’d like to turn into a digital product. Been there. Done that. Hell, I’ve made over $6,000,000 over the years in digital product sales alone. That may not sound like much but digital products can range from $1 and up.
Most of my digital products run in the $500-1000 price range. A few are sub-$100 but those are mostly introduction products for the skeptical prospects out there.
I got a price for every budget, baby!
In my 11 years of making digital products and selling them, I’ve seen a lot of people attempt to do what I do, and fail miserably. But there’s a reason why they fail to make a single sale, and my products fly off the shelf.
That reason is called “market research.” You don’t have to be a billion-dollar company to survey and qualify a market. I do know those who don’t do their market research are doomed to fail repeatedly because doing the same thing over and over and expecting different results is fucking stupid.
I first learned this method from my friend and long-time mentor Kevin Nations. Kevin is one of the best at running a low-cost, high-production business online. He taught me things a decade ago that matter even more now.
Before I divulge Kevin’s process here, I want you to know I’m not stealing from him. He has posted and spoken on podcasts and more about this process. Instead of acting like I’ve made up what I’m about to share, I’m giving my man some got-damn street credit. (As if he needed it.)
Kevin calls this “leaning in.” He says it’s like when you go in for a kiss. You lean in 70% of the way, and she/he leans in 30% of the way. You never lean all the way in.
You gotta let them come your way some, too, or the kiss is destined to fail. The same principle applies to a new product launch.
Leaning in on your audience is the first step to take toward gathering the market research you need before building and launching a product. To lean in, go to Facebook, Instagram or LinkedIn and ask your audience if they would buy what you are about to build.
Make a post like this:
“If I were to build a program that taught you how to create and distribute a digital product online, would you be interested in learning how to do that?”
Just make that post and see if your friends are interested. If you get a bunch of comments, you prolly have a good product. If you hear crickets chirping from your post, you prolly need to get back to the ol’ idea drawing board.
I’ve seen way too many people build a product from scratch because they thought it was a good idea. The market, on the other hand, had no interest, so not only did the product fail, the time it took to make it was wasted as well.
Last month, my company put out two new digital products. One taught Facebook group selling and the other showed people how to follow up on sales calls with memes. Both were made because our audience leaned in with us.
That’s how market research is done these days.
Once I finish the product, I get back to the post I made about it where I leaned. Then I post my link to the product there first. This is the best and hottest place to post it. I want to create momentum from the start so I put the bait in the middle of the hungriest prospects first.
I’ve been using this method prior to launching products for a decade now. It still works. Matter of fact, it works better now than it did back in the day because I have a bigger audience to poll these days.
If you like the info in this article and want to know more about working with me and learning from me, find out what I have to offer. Apply to be accepted at MillionDollarMentor.com