Creator Growth Newsletter 1/6/2024

Let’s talk about digital products, more specifically what they are, and how you can launch one!

Quick PSA - You only need around 500 - 1000 followers to launch a successful digital product, don’t let anyone tell you otherwise.

What’s a digital product? 📦

As an easy explanation, pretty much anything that is sold which doesn’t exist in the physical world. Some examples being; desktop wallpapers, filters, courses, software, e-books, consulting, communities, and the list goes on.

The reason why myself and my team advise influencers / content creators to launch digital products compared to physical, is because of the logistical issues that plague physical products such as; shipping times, inventory issues, product defects, bad suppliers, etc.

Oh, I should probably mention that digital products regularly enjoy profit margins above 90%. Obviously this will be lowered if you pay for ads or have other people manage & create the product for you. But in general the margins on digital products are extremally high.

How do I launch one? 🚀

Well this would depend on what kind of digital product you would like to launch. However, there is something that you should consider before launching any kind of digital product. You will need to decide whether you want to launch on a marketplace style platform, or launch on something built by you. There are pros and cons with each, but it’s mostly up to how much time and capital you are willing to dedicate towards your product, and how much potential profit you want to give up.

Steps to launch:

1. Ideas - Think about what problem(s) your product will solve.

2. Marketing - How will you get your product in front of people?

3. Sales - How do you plan on selling your product once people know it exists?

4. Create - Design and build your digital product.

5. Launch - Execute your plan.

Here is a video I found explaining how to build and launch a digital product in depth: https://www.youtube.com/watch?v=-33asB9Qau4

My recommendations: 📝

• Figure out if your audience wants your digital product before you launch, this could be done by posting a video about it, a poll, or simply replying to comments and asking if there is any interest.

• Keep costs low, this way if for some reason the launch doesn’t go as planned you will be okay financially. I would recommend using gumroad.com to test if your product will sell (they are free).

• Create a great product, nobody likes to buy trash.

I hope this post inspired you to start you digital product journey! Happy holidays and best of luck in the new year 😁