Do you have a digital product to sell?
Have you built up knowledge about a certain topic that you would like to sell in exchange for money online? This forms the basis of your first digital product.
What digital product is right for you and your business? There are many options availalble. You could write an ebook and sell it. What about paid webinars *someone has to pay in order to join your webinar. Another option is to create and sell an online course. You could create a group coaching programme. You could start a membership site.
How do you know which one will work for your business?
This very much depends on your audience.
- Does your ideal client want to learn at their own pace?
- Do they like learning as part of a community?
- Maybe they want to do a short programme as part of a community and then move on?
- Do they prefer to read in their own time?
I have in the past few years, developed three online courses, launched one group coaching programme, and started my own membership site.
So which model do I recommend?
I actually like the idea of keeping all three.
The online courses I have created are for people who want to learn now about their specific topic. I have a course, Facebook for Business, that once you invest in it, you work through at your own rate, and you choose which module you want to look at first. This suits a lot of people who don’t want to waste time, or who don’t need or want a community support for their learning.
The group coaching programme I launched in September 2017 was a five week course with a limited number of spots. The Social Bee Online Bootcamp. We met every week to discuss that week’s topic, and I delivered a lot of value. Possibly too much, as the feedback was that some people were still working through the content months later. I am going to look at this one again and relaunch it with a new group this year.
Then this year I launched my monthly membership site, the Social Bee Academy. Think Netflix for online learning. There is a lot of content already there, and I add to it monthly. We also meet once a week for live Q&A calls online. I have other trainers who contribute their expert knowledge and a section for workbooks and mini- training modules. The Academy aims to help entrepreneurs to understand how to market and grow their business online.
All three models have very different pricing structures, and my monthly membership is my lowest tier. At only £30 per month, you remain a member while you keep your subscription. If you stopped paying Netflix, you wouldn’t get to see the next episode of your favourite show, right?
Come and check it out here – you can even try it out for only £7 for seven days! That’s something else you can’t offer with a online course or a group coaching programme….
How do you decide which model would suit you best?
I love participating in groups and communities, so the models which involve regular interaction with my members work really well for me.
If you want all your money upfront, then online courses may be best. But be warned, all of these options need a funnel and launch plan before you put them on sale. You need to have an interested audience lined up who will be willing to pay for your expertise and knowledge. You have to create sales pages, email sequences and much more as well as actually creating the content for inside your programme/course/membership.
I invested in training to help me with all of these.
For courses, I went with Create Awesome Online Courses. David Siteman Garland has a webinar that will take you through 7 steps to creating, promoting and profiting from online courses.
For membership sites, I invested in the Membership Guys training here – of course, it’s a membership site.
I strongly believe for all of these options, you should invest in your training and learn how to set them up from someone who knows this side of online business inside out. One of my future courses may well be how to set up and sell an online course! Watch this space…