It’s no secret: if your business relies on delivering a service, there is a limit to how much you can earn.
It’s simple math. There are 24 hours in a day, and I doubt you want to spend every minute of those hours working.
So what’s a coach or consultant to do? Scale your business by selling digital products!
If you want to get your next course or digital product out in record time, listen up. At Content Sparks, we create and launch 2 to 3 new products every single month; we wouldn't be able to do that unless we had a strict process carefully laid out. One that we can replicate and improve on for each launch without spending hours and days reinventing the wheel.
Read on for our best tips for a speedy product launch to scale your business.
What are Digital Products?
Digital products (also called info products) are scalable products that you can use as lead magnets by offering for free, or sell passively on your website.
They could be anything, though for coaches, consultants, and freelancers, they typically take one of the following forms:
Just make sure that your product is something you can reasonably create and that it adds value to your target audience.
Why Coaches and Consultants Should Launch Digital Products
I’ve got one big reason for you: a scalable source of passive income.
Let’s say you have two coaches, Jane and Amy, who charge $500/month for their services.
Jane and Amy can take on 10 clients each, giving them $5,000 in recurring revenue each month – not bad!
But they want to grow.
Jane splits her time between client work and prospecting. She ends up spending most of her time asking for referrals, posting on LinkedIn, and networking to gather a few more clients, which may result in an extra $1,000 per month… if she can close them.
Amy, on the other hand, launched an online course as an introductory offer and created a template library that she sells as a low-ticket offer with the course. Amy bundles these together for $499, adding a new stream of passive income to her business. Amy still plans to build her network and sell, but as her audience grows, her business will grow faster thanks to her digital product sales.
Later on, I’ll give you seven tips to launch a digital product fast so you can speed up your path to repeatable passive income.
One Quick Warning Before You Dive In
If you want to move quickly with your next launch, just be aware of one thing.
The ‘speedster product launch' won't maximize your sales in one big release. In order to put out so many products, we make our launches a bit smaller and then build up sales over time. If we were only releasing one every few months, we'd probably take longer on the launch planning part.
Quicker, smaller launches are also a great way to test a new product without investing an enormous amount of effort and money. If you're insanely busy with other things in your life, it's better to get your product launched on a smaller scale so that it's earning for you. If it's a success, you can then spend a little extra time building a funnel to get more leads and do a larger launch the next time.
You'll also know whether it's worth your while to invest in additional advertising to drive traffic to your new product.
The Ingredients for a Successful Digital Product Launch
Every successful digital product launch needs the following “key ingredients.”
If you miss one, then you hurt your chances of success out of the gate:
And that’s it!
If you want to level things up a bit, you could run a launch sequence to your existing audience to drum up some interest or presell the product to get feedback. Those three key ingredients will get you pretty far for your first digital product launch.
The Rapid Product Launch Checklist
Request your free copy of the Checklist today.
7 Tips for a Speedy Digital Product Launch
So if you DO want to take the speedy route, here are our top 7 secrets for rapid product launches:
Follow these tips, and there is nothing stopping you from a successful (and speedy) launch!
1. Don't Over-Complicate
Start with the simplest, easiest launch methods – ones that you already know how to do or can set up quickly.
It's easy to look at someone with a complicated launch funnel and think, “I should be doing that!” But those people have been doing launches for years or have someone managing it all for them. When speed is an issue, it's best to stick with what you can implement quickly. Then, add more tactics over time as you gain more experience.
For example, create a course sales page and choose one or two marketing channels to drive traffic to it. Test and learn as you go, and you’ll find out what works best.
2. Try a Soft Launch
We often do ‘soft launches,' primarily to our own email lists and followers.
Soft launches are a great way to test a product with your current customers before investing in a bigger launch.
You can then ask your customers for their feedback, both the positive and the constructive type. Incorporate that feedback into both your launch materials and your product or service itself before you launch to the general public. You'll end up with a much higher quality product as a result, AND you'll have success stories to share. That will improve the conversions on your bigger launches even more.
3. Build a Template Library
We use templates for almost everything in our launches and our products.
For example, we use a Canva template for our social media images, and our launch email sequences follow a pattern of pre-launch content, heads-up, promo, free content, reminders, etc. We may write new emails each time, but it's easier when you already have a sequence to follow. The same goes for all our launch content. Keep templates for your designs and layouts.
Create your own checklist of content that you know you'll want to create for each launch. Put that checklist in your project management tool and keep a folder of templates that you can share with team members.
The Rapid Product Launch Checklist
Request your free copy of the Checklist today.
4. Define a Detailed Process
While it may take time to figure it out, you need to lay out every single detail of your launch process. That should include all the bits and pieces that either members of your team or third parties are responsible for. We put that process into our Asana project management tool, save it as a template, and then copy that template as a new project every time we're ready to launch a new product.
Having all your tasks laid out, down to the smallest steps, eliminates the time you usually spend trying to decide what to do next. And if you save that list, you'll help ensure you don't forget a task next time. Just add to the launch process template every time you find that you need to change or when you suddenly remember a task that wasn't listed.
5. Be Prepared to Change Course
Be ready to adapt to market (and life) events.
An idea for increasing sales might suddenly comes to you that you want to act on. You might have an unexpected crisis in your own life that cuts into the time you had planned to implement the launch. A request from a customer or other feedback might come in that you want to incorporate in the product. Or, there might be a news event that you can leverage during your launch. Even though we create most of our content in advance, we sometimes go in and edit based on new ideas or events.
If your mindset is ready to turn on a dime and make changes in your launch plan, then your stress level is instantly reduced.
And if all hell breaks loose and your life turns upside down, you can still proceed with a launch if you cut everything to a bare minimum. I've definitely had this happen at times. Usually, we have everything prepared well in advance of a launch. But I've had times where 10 different demands on my personal time have pulled me away from launch tasks. In those cases, I look at my to-do list and identify the bare minimum, ‘must do' tasks, such as writing a launch email or scheduling a Facebook Ad. Then I prioritize the rest and fit it in around the edges of my crisis tasks.
6. Train Your Team
Build a team of reliable outsourcers who you can go to for help in creating marketing content, managing customer service, tech issues, monitoring sales, etc. Well before any launch, share your philosophy and guidelines for customer service, your standards for quality control, and your business values and mission.
Make sure that your team always has access to the most up-to-date materials, including promotional content. That means having shared folders where that content is easily accessible. You can even keep little training videos in those folders or in a separate training section for team members. That way, if someone needs to remember how to perform a task, such as setting up a new content upgrade, they can just watch the tutorial and follow any checklist you've created.
Aside from having your team well-prepared, ensure you have open lines of communication. We use Skype for quick questions, Evernote chat for some projects with detailed checklists, and Asana for keeping track of all the little tasks for a launch.
7. Don't Expect Perfection
Don't beat yourself up if something goes wrong during your launch or you end up not being able to do everything you planned. That's to be expected.
Even marketers who have been launching products for years have technology mishaps, bloopers, and typos. The key is to document everything so that you can improve your next launch.
Once you've done one product launch, you'll have the confidence to go bigger next time and add more complexity to the mix. Or keep it simple and just spend more time with lead generation in advance. If there's anything that's slowing you down, look for ways around that obstacle.
The Real Secret to Launching Digital Products in Record Time: PLR
In many ways, launching is the easiest part – it’s creating a product that people want to buy that can really trip you up.
If you have loads of time to brainstorm problems to solve and test out different products, by all means, go for it! But most coaches, consultants, and agency owners find they have too little time and not too much.
If you’re one of those folks, I have a secret for you: PLR. PLR stands for Private Label Rights; it’s a license that allows you to purchase a ready-to-sell product, rebrand it, customize it, and then sell it as your own.
It’s the ultimate head start on launching a series of digital products that can propel your business to new heights. And I sell dozens of PLR courses, eBooks, workbooks, and more in my shop.
When you purchase a license to any of our ready-to-go course kits, you get the rights to edit it any way you want (or leave it as-is) and add your own name and branding.
Then use your new course to:
Enjoy!
Want a Checklist That You Can Use for Your Next Launch?
You don't need to do absolutely everything in this free download, but it will give you a good framework to follow for all your launches.
Go ahead and grab that checklist …then customize it for your own launch needs.
Hi Sharyn,
Thanks for sharing and answering one of my major questions about how you remain so productive. Systems.
That might be a topic of yours for development. I read a book, “Work The System” by Sam Carpenter that delves into this topic. I prefer your more digestible format here though.
Thanks, Todd! I’m so glad it was helpful. And I’m still working on improving the process more while adding some more elements… without over-complicating things 🙂