According to Forbes, the online course and digital learning space are predicted to be worth $325 billion by 2025. ⠀
Keep in mind, that projection was made BEFORE the pandemic hit. With COVID-19 and the push to take even more learning online, there is MASSIVE opportunity to be had. ⠀⠀⠀⠀⠀⠀⠀⠀
But when I mention these stats to online business owners, you know what a common response is?
“Well, that ship has sailed.”
So many would-be digital product and course creators tell me that it’s already too late for them. That the competition is too heavy. Or that the online course bubble is about to pop.
Here’s what I’m telling you:
If that ship has sailed, build your own damn ship!
Of course, your brain will try to talk you out of it. That’s what your brain does. But don’t let that fear-based, limiting belief stop you from seizing the opportunity.
There’s so much room for growth. There is room for you. You can absolutely have success with digital products and courses, you just need a system and the persistence to get it done.
The Little Funnel That Could
I know success with digital products is possible because I did it.
Here’s what my first Tiny Offer™ funnel did for my business:
- Built an email list of 15,013 paying customers and grossed $731,621.80 in revenue in 17 months (that’s an average of $43K a month in revenue — more than I made pre-tax in my first marketing job)
- Allowed me to shut down the 1:1 client side of my business (except for high-end VIP Intensives), hire a dream team, and hit the multi-7-figure-CEO milestone
- Changed my entire business (and life) — paying off debt, buying an investment property, and thriving even during 2020
My Top 5 Tips for Success in the Digital Product Market
# 1 Get Your Mindset in Check
I’m not talking about wishing on a star here. I’m talking about not letting your self-doubt ROB you of the opportunity to launch a digital offer.
“That ship has sailed.”
“There’s too much competition.”
“I’m not as good as Such-and-Such.”
“No one will ever buy from me.”
Your mind is trying to protect you, and it will spew all sorts of unhelpful, discouraging thoughts like these all over your plans.
The biggest mindset threats to be aware of when you’re creating and launching your digital product are:
- Fear of Judgment
- Imposter Syndrome/Self-Doubt
These mindset blocks will kill your offer before it even has a chance to sell, but only if you let them.
When you find yourself having thoughts of doom, pause and ask yourself one simple question: Is this true?
Reframe your negative thoughts: What might you think or believe about creating and launching, your offer that is more helpful?
# 2 Get Your Audience Right
Start with the person who will actually buy your offer. BEFORE you create anything, or write a word of sales copy, or build a single piece of your funnel…you must be clear on your who.
In the Tiny Offer Lab, I teach you exactly how to narrow down your potential buyers to 3 groups and evaluate each group to land on THE PERFECT ONE.
One of the most important, and often overlooked, factors in determining your WHO is your passion and excitement for helping these potential buyers. Without this “lights-you-up” factor, you’ll struggle to get your offer out into the world.
# 3 Get Your Promised Results Right
Creating an offer that does everything for EVERYONE = An offer that will not sell
Your offer should NOT be for everyone. What you do and the results you help people get need to be very specific.
No one is scrolling through their Facebook feed looking for ads for “Some general thing that does everything great and works for every human being!”
They’re looking for the solution to a specific problem, or for an offer that will give them specific results.
Think “Better overall health” vs. “Chiseled Abs.”
No one is buying better overall health, as great as it may be. They’re buying chiseled abs!
# 4 Get Your Offer Suite Right
The biggest mistake I see in low-ticket offer funnels is this:
Selling a single product or offer.
You’re missing a giant sales opportunity if you do it this way.
So, how about pumping up your average cart value the Tiny Offer way?
Here’s how it works:
A Tiny Offer is the entry-point of an offer-suite funnel. An offer suite is a set of products that all work together to solve a specific, predetermined problem for the prospective buyer.
The basic funnel has three parts: the Tiny Offer, order bump, and one-time-offer.
Do not miss this point: All three parts of the offer suite work together to solve connected pain points for your buyer.
# 5 Get Your Sales Copy Right
Without effective sales copy, even the best offer will fizzle out.
And the first step to copy that sells your offer is…
Knowing your potential buyers!
I’ve said it before, and here I go again: There is NO SUBSTITUTE for knowing your ideal customer.
Before you write a single word of copy, you have to get inside the minds of your potential customers.
You can score a double-win by validating your offer and collecting copywriting gold through customer research. Read more about validating your offer and customer research here.
Once you’ve done your research, you can move on to writing direct-response style copy for your offer. (I teach you how and give you all of my templates in the Tiny Offer Lab.)
That’s all there is to it…and I realize it’s a lot.
The Tiny Offer Process
If you want to learn more about creating a Tiny Offer of your own, join me for my next free masterclass: Playing Big with Tiny Offers.