6 Digital Product Mistakes Costing You Thousands
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Honestly, there’s no way I could hit consistent $10K months without digital products. They aren’t the bread and butter or my offer stack, but they sure do help. In fact, the month it launched, I made over $8,000 from Going Video!
But it wasn’t always so easy.
Digital products are a great way to increase your revenue, but it’s also easy to make a few crucial mistakes. Mistakes that could cost you thousands of dollars per month. Want to know what those mistakes are? I’m covering six of them today!
You don’t have an offer bump
No offer bump at check out? The result could be hundreds of dollars in lost sales! Don’t know what an offer bump is? It’s simple — when a customer checks out, there will be an option for them to add an additional product to their order.
Think about when you check out literally anywhere online, and they say, “you might also like…” That’s an order bump.
And they need to complement the digital product you’re selling rather than be included in the product. You don’t want someone to pay extra for something they’re already buying, and they don’t want to either. So make it clear that this is a separate offer they can get in addition to your digital product.
You don’t have a one-time offer after purchase
A one-time offer following the purchase of your digital product is crucial. Why? Because scarcity sells. And when you put in an offer that’s hard to refuse, one that people can only use this time, and this time only, it’s hard to say no!
But don’t just put any old thing up for sale. You need to think about the next logical step in the customer journey. It doesn’t really make a whole lot of sense to offer your highest ticket offer, like a mastermind or membership group, immediately after they purchase a $37 product. That’s just too big of a gap to be reasonable.
And it goes back to the customer journey — you’ve got to warm them up to those big offers! So, tell them about the next thing in line.
You don’t have a follow-up sequence
A follow-up sequence is a series of emails you send out to customers after their purchase, usually to follow up and see how things are going, and then to offer them the one-time offer from above. You can pretty much do this with any email service provider, but I use FG Funnels (and I love it!).
A follow-up sequence is also great for abandoned cart emails. Remember the last time you went to check out at Old Navy or Pottery Barn, but then your kid can run into the room with a runny nose after school, and you totally forgot about your order?
You probably got an email reminding you about your order. That’s an abandoned cart email.
And they are a great tool because, look, people forget things all the time. Especially parents. Especially business owners. Especially business owners who are parents. It’s not that they don’t want your offer. Life pulled them in a different direction, and they just forgot — don’t be scared to remind them!
You’re scared of being pushy
A lot of times, I see people say that their offer isn’t working out or getting any sales. But when I get further into the weeds, it’s not that there’s something wrong with the offer itself, it’s just because there’s no traffic to it.
And if you don’t have eyeballs on your offers, you’re not going to be able to make any money!
So don’t forget to talk about it. And then talk about it again. People are busy. Social media algorithms suck. No one sees 100% of the content you put out, whether it’s over email, social, Lives, etc., so quit worrying about being “annoying” or “salesy.” If you aren’t annoying yourself, you’re not doing it right!
The price is not right
If Bob Barker would be disappointed, you probably need to reconsider what you’re selling your digital products for.
Do people think it’s worth more than it is? Are they shocked to find out a digital product they thought was $97 is actually only $37? If so, congrats, the price is right.
Why? Because it shows a higher perceived value, which makes people feel more confident in their purchase because they’re getting a really good offer for a steal of a price.
My coach Julie Chenell said it best, “you have to win the price war,” and that could not be more true for solo entrepreneurs in 2023.
You’re not thinking about the bigger picture
The point of digital products is often to ease people into wanting to work with you. So in your offers, start breadcrumbing why they should.
In your digital products, you’re not giving away all your secrets. You’re just giving away a few key pieces of information. And that includes the benefits of working with someone like you. If you get them to see why it would be advantageous to work with you, you can start getting them further along that customer journey.
Need help coming up with a digital product idea?
Now that you know how awesome digital products are, and what value they can add to the customer journey, you may be wondering how to come up with the right idea for your business. Don’t worry — I’ve got you covered!
If you’re not sure what you can offer, I just did an entire video talking about 15 different digital product ideas for any online business owner, no matter their niche or industry. Give it a look and get those idea wheels turning!
