I’ve talked extensively about selling digital products online. The reason for that is that they are cheap to create and you can sell them for a premium price making you a very decent profit.
Digital information products will make you a lot of money as long as you do it right.
As well as being incredibly cheap to make, I am happy to tell you that they are also incredibly easy to make.
You can either make them yourself or if you want to speed the process up a little and you have some money to invest, you can outsource the product creation to someone else.
I often do that because spending $100 having someone create a product for me that can make me several thousand dollars is a no-brainer.
Having other people create products for me means that I can focus on other aspects of my business like writing the sales copy and coming up with new product ideas.
However, as I say… creating digital products is actually quite easy and I am going to discuss several now in this article.
I like many others sell digital products at $97 (or more) at a time.
Something worth pointing out is that when someone buys a product from you for $97, (perhaps just once a day) you’d then be earning more than the average daily wage in the US.
According to Statista.com, in June 2022, the average hourly earnings of all employees in the United States were at $10.86, which means that the average daily wage in the US is $86.88.
Working a hard and tiring 8-hour shift would earn you just $86.88.
Obviously, not every job or wage is the same; this is just the average daily wage.
But it is shocking when you consider that you can make $97 (a day) selling just one product that was created a year or two ago and at the time, it was incredibly simple to make.
I regularly sell more than one product a day, and very often they cost more than $97 to buy.
I hope you are beginning to see why selling digital products is something you really need to start doing.
Once a digital product has been made, it is uploaded to your website where it can be bought 24 hours of the day and night, 365 days of the year, for as many years as you decide to sell it.
That is powerful… and incredibly profitable.
eBooks & Reports
eBooks and reports are simple PDFs that you sell via your website.
Once a person buys the eBook or report from you, they are automatically sent to the download page where they can access it and download it.
Sometimes eBooks and reports are sent via email after the purchase is complete.
eBooks and reports are usually priced for less than $97 but the price also depends on what the product is about and how much of a transformation it can make to a person’s life.
For example; I have one eBook which I sell for $297 because what it teaches can in fact change your career path and make you a lot of money.
I know this to be true because it has made multiple millions for me and many other people.
When a person learns this skill, it can transform their lives beyond imagination.
One carpenter I know is currently in the process of relocating to Portugal all because he now makes money using the skills taught in this one product.
He is able to move to anywhere in the world and make money using this skill and because of that, I think asking $297 for it is a fair price. It’s a skill that can and will earn your far more back when you use it.
Take a look here: One Letter From Retirement. It’s currently on offer at $97 so, I suggest you take a look and bag yourself a bargain while you can.
eBooks and reports which solve a problem and can transform a person’s life are always going to be more valuable to the reader than an eBook that tells the story of magical schoolboy wizards or women who engage in sex games with a billionaire boss (aka Harry Potter / 50 Shades Of Grey).
One is simple entertainment; the other can change a person’s life for good.
eBooks and reports are easy to write. If they solve a problem and transform a person’s life, they don’t need to be long.
A short 20-page book can be priced at $97 or more if the person who reads it can make $1,000 or more back in a relatively short time.
It’s not about how long the book is or necessarily what’s in it, what is important is what it can do for the reader.
An eBook or report simply needs to be written in an easy-to-read and clearly understandable language so that any reader can follow the information with ease. Write it so those with a basic level of education can understand it; anyone smarter should be able to understand that too.
It really doesn’t take long to write and format a simple eBook or report. You can always get someone else to write it for you too if you wish.
You either pay someone to write it for you from a brief you provide them with, or you say everything you need into a microphone and send the recording to a company like Rev.com where you pay for it to be transcribed into a written text document which you can edit and reformat into your book.
You can also hire decent freelance writers from Fiverr.com to write your eBooks and reports. Although it’s nice to get work done cheaply, do be aware that if you ‘pay peanuts’ the work won’t be brilliant.
It pays to pay a bit more so that you have a product that you are truly happy to put your name on and sell.
Remember, this is a digital product, once it is finished and online, it can be sold for many years.
There are several different types of videos you can publish as a digital product or as part of a product and I shall talk a little about each one.
Video is great because they have a higher perceived value than the written word, and so they should really because you can teach and show a lot in a video that cannot necessarily be easily shown in an eBook or an audio based product.
Again, it goes back to what kind of transformation the information in the video can have for the viewer. If what you teach helps your customer to make an extra $1,000 in less than seven days, it is worth the $97+ price tag.
If the viewer can make an extra $1,000 each month after watching it then it most definitely is worth more than a few bucks. And people will happily pay it too.
Any training which can earn back ten times what the customer paid for it is worth more than any video which is just teaching ‘theory’.
For example; if I recorded a video that showed you how to write a sales letter from start to finish and it included everything you need to know and do when writing sales letters for clients, the viewer could quite easily write sales letters for clients and charge around $1,000 each.
Even at $250 per sales letter, one a month would earn the viewer $3,000 which would make a $97+ price more than acceptable.
So let’s take a quick look at the different types of videos you can create for a premium-priced product.
Live Screen Action Videos
These are quite simply the easiest videos to make as you simply record yourself working on your computer or phone. Using specialized software, you record what you see on your screen, and while you work you talk into a microphone explaining what it is that you are doing.
People can see for themselves what it is that you are doing, and what it is that they need to do and they can simply copy for themselves what you do.
There is a whole range of screen capture software you can use ranging from the expensive Camtasia Studio to the ridiculously cheap online Screencast-O-Matic.com.
For the price of a cheap meal for two, you can use Screencast-O-Matic and record training videos for a whole year which you can sell as products for $97 or more.
Screencast-O-Matic works on Mac, PC, Android, iOS and Chromebook so you can use it on multiple devices.
This is similar to the Live Action Screen Videos apart from you record a prepared presentation.
Using presentation software like MS Power Point or Google Slides, you place your training information over a series of slides and you record yourself going through them.
It is simple enough to do but it requires a fair amount of work upfront to create the slides ready for the video.
Using software like Screencast-O-Matic.com, Loom, Camtasia Studio and Screenflow, you record the computer screen as you work through the presentation.
It’s all incredibly simple.
Face To Camera Videos
This is as simple as it gets. I don’t think there is any need to explain this one really. A Face To Camera Video is just that, you talk to the camera and say what you need to say.
The camera could be your cell phone, your webcam or a proper digital camera.
Some people record themselves giving whiteboard presentations where they write in real-time on the board (or using giant paper sheets attached to a flipchart) while they teach.
Again, this is incredibly simple to do.
Your camera could be placed on top of a tripod or you could ask a friend or relative to hold it for you. It just all depends on what you are filming and what quality you need or want.
Shaky hand footage is not good if you are teaching using a whiteboard, but it’s okay if you are sharing your thoughts about fitness while taking a brisk walk in a forest.
Face To Face Interview Videos
Again, this is pretty self-explanatory. A Face To Face Interview Video is exactly that. You film yourself talking face to face with another person.
The majority of these are done online using software services such as Zoom and Skype because it’s highly likely that you will be interviewing people who are miles away and very often overseas in other countries.
I have seen a few video interviews done in the same room around a table but that is quite rare and it depends solely on where the two people are at the time.
If the person you want to interview lives a few miles away or is at the same conference as you then you might record an informal face-to-face chat in the same room, but you’ll mostly be doing online interviews.
The online videos are actually easier as you do not need to set up a camera to film the two of you as you will simply use Skype or Zoom to record both your webcams (and perhaps your computer screen) while you interview your guest.
Once the interview ends and the recording stopped, you download the recording ready to be edited for your product.
A bonus for using software like Zoom is that you can also download the interview as an audio-only recording which is perfect for adding value to your product.
Selling a video interview series and including the interviews as audio recordings is great for those who want to listen to them as they go for a walk, a run, or travel to work.
It takes very little work to supply the videos (you can do this with the other styles of video too) as audio recordings but it increases the perceived value of your product greatly.
Podcasts & Audio Recordings
Podcasts and audio recordings are another incredibly easy-to-make product that you can sell for a premium price.
Again, this depends on what you teach or supply. Some topics lend themselves better to audio than they do video.
Podcasts and audio recordings (basically they are one and the same) allow people to listen and learn while they are doing other things such as driving, riding public transport, walking, cycling, jogging, cleaning or simply laid out on the bed relaxing.
With video, you need to watch the screen as well as listen but if what you are talking about does not need visual guides, then there is no need for people to sit and look at your face while you talk. Make an audio recording instead.
I have a friend who once worked in an engineering factory dealing with the general running of the place like taking in deliveries, loading up trucks when they came to collect, and keeping the factory floor clean and safe.
While he was sweeping up and preparing items to go out he would listen to a lot of podcasts and audio recordings as part of his drive to learn new skills so that he could leave and find a better job.
He has since moved on to pastures new and better.
One program he listened to regularly was the TSGR Program.
Those audio recordings were chapters of the now infamous book, The Science of Getting Rich written by Wallace D. Wattles in 1912 read out by Bob Proctor, Jack Canfield, and Michael B. Beckwith who shared some extra stories and information of their own to ‘fatten’ and ‘pad’ it all out.
The information in that book is a combination of theology, philosophy and psychology and so it was perfect as an audio recording because there was nothing to see or follow. It just needed listening to and thinking about.
That product when it was for sale cost somewhere around $1,997.
It included a reprint of the original book, a workbook, and several CDs containing the recordings but basically, they took a book that was around 100 years old and in the public domain and they made a product out of it charging just under $2K for it.
Let me just say that again… they read out a book written by a dead person and charge $1,997 for it.
It doesn’t get any easier than that.
Oh, and in case you didn’t know, book The Science of Getting Rich was the inspiration for the multi-million dollar book and documentary The Secret and the multi-million dollar publishing business that followed.
Don’t tell me there isn’t anything you can do.
I love membership products (continuity programs) because you can earn money each month.
Instead of being paid once for a product, you get paid several times for it. Where you sell an eBook for $97, you can sell a membership product for $97 per month.
That means if one person stays a member for 1 year, they will pay you $1,164. If they only stick around for 6 months you will still earn $582.
That’s a lot more than just $97!
Yes, you need to supply new information and content each month, you are not actually being paid several times over for the same product, but the monthly content is incredibly easy to create and it doesn’t need to be a lot.
Again, it all goes back to what you teach and what transformation it can have on the customer’s life.
If you were running a 12-month course that taught people how to generate an extra $100,000 a year publishing simple eBooks to Amazon Kindle, charging $97 each month for ongoing information and advice is more than acceptable.
Membership products teach a lot but it is broken down into easy-to-follow monthly chunks to prevent information overload.
Monthly membership products could be a series of PDFs, access to information on web pages, video training, audio recordings, or a combination of them all… which leads me nicely on to the next and last part of this list.
As we are talking about making a product where you can charge a premium price of $97 or more, a product bundle oozes ‘value’ and gives a higher price instant acceptability.
When I say a product bundle, I am referring to a mix of media such as eBook, audio recordings and videos, but you could just as easily bundle ‘different’ products together and sell them as a bundle.
If you sold a short eBook about Facebook marketing, one about Twitter, one about Instagram and one about TikTok, you could bundle them together and sell them as The Ultimate Social Media Marketing bundle.
To give it added value you could have all of the eBooks read out and turned into audio recordings allowing the customer to listen to the information while they are ‘out and about’.
You could also record one or two exclusive videos discussing each book. The content (at least the most important points) can be copied into a series of slides and you read out each slide as you work through the presentation.
The work to create a bundle really is not that hard and when you consider how much more money you can make by selling a bundle, you would be foolish to not do it.
If you were already selling an eBook for $19.97, creating an audio recording of it, a video and a couple of extras such as a checklist, template and a cheat sheet and bundling it altogether would give it a higher perceived value in the eyes of the customer allowing you to sell it for more.
Sometimes you don’t need to do much or add much to be able to increase the value of a product and sell it for $97 or more.
You can add simply add one extra item and state that the value of that one item itself is X amount which automatically increases the perceived value of the bundle.
For example: imagine you are selling a short eBook called ‘Sell Easy-To-Make Digital Products From Your Website And Make An Extra $1,000 Per Week’ for $47 but you want to increase the price to $97 or more.
To push the price up you could record a 30-60 minute video discussing several traffic generation methods and ways to send people to your sales pages and give that video a price value of $97.
Bundling that video with the eBook now gives it a combined price of $144.
If you were to sell them both together for $97, not only do you now earn more for each sale of your eBook, the customer is getting more and they also believe that they are getting a massive $47 discount.
It’s a win-win situation.
A Few Final Words
The price increase of a product is very often nothing more than a combination of perceived value and worth.
The value and worth of a product is subjective.
In the last example where I suggested recording a 30-60 minute video and price it at $97, some people may think that the video is not worth that price… others will say that it was underpriced.
The video is worthless to anyone who watches it and does nothing with the information, the eBook is also worthless to anyone who reads it and does nothing with the information…
But to the person who took action, implemented what they learned and made several thousand dollars from what they learned, they are worth a hell of a lot more to them than the $97 they paid.
Their value would be priceless.
The worth of something is actually in the transformation it created.
If I were to sell you a video at $97 and what you learned in that one video spurred you on to build a business that generated $100,000 in your first year, the price may only be $97, but to you that one video is worth $100,000 and more.
Without it, you wouldn’t have built that six-figure business and so when it comes to pricing your products accordingly, you need to remember, that it’s not how long it took you to make the product or what it is made from, but what it can do for the person buying it.
A short PDF, a few audio recordings, and a couple of video tutorials can easily be priced at $97 or more if they can help a person to reach another level in their life.
Don’t be afraid to ask more for your products, there are plenty of people out there who will happily pay what you ask.
Other people are doing it, so why not you? Especially if you can make such a product in just 48 hours (or over a single weekend). Think that’s impossible? Then click here now to check out the proven formula I have been using for years to create exactly these types of products in record time… And I’ll even share with you some of my recent results.
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