Launching a digital product? Welcome to the world of passive income. Step into my office and let’s look at the 5 things you need to know to maximise your passive income.
Selling stuff online is a dream if it’s done right. Launching our Showit template shop was probably the best business move we’ve made so far. If you’ve already done all the initial hard work by creating the product in the first place, it should nicely tick over for you on your website, making continuous sales and bringing in well-deserved money.
Note: if it’s done right. If you haven’t nailed your marketing, automations, and processes, it will either create more work than it solves or just won’t sell at all. Remember, passive income should make life easier for you, not harder.
Everyone loves a good launch strategy. Presales are great for plenty of shameless plugging, building up anticipation, and giving your product time to gain traction before it’s even available.
There’s also another sneaky benefit to beginning with a presale period. By pre-selling your product before you officially launch it, it gives you a chance to make sure you’re not wasting time creating something people don’t want or need. Test the waters. See if your product needs any tweaks (or a complete rethink) before wasting your time, energy and money.
Speaking of testing the waters, beta testing your MVP is a great way to gather valuable feedback before the product goes on general sale to the whole world.
Send your product to a few trusted sources like previous clients, and ask them to use it and let you know their honest thoughts. Their feedback will help you refine your offering, streamlining it and flagging any potential issues.
Another bonus of beta testing? You’ll be able to gather dazzling testimonials to help you give it the hard sell. Social proof is great for weaving into blog posts, email newsletters and IG posts, so you’ll have plenty of bonus marketing material.
Making sure your messaging and marketing assets are absolutely on point is key. Getting those right ahead of launch time will save you a lot of hassle along the line.
Instead of muddling along and posting content on the fly during your launch phase, spend quality time crafting your copy and creative before you start marketing the product. Yes, before– don’t just think up captions as an afterthought every evening with a cuppa.
Be crystal clear on your messaging, craft killer copy, get your webpages set up, create eye-catching graphics and get all your marketing assets created ahead of time. That way, the selling can go on with as little input from you as possible.
… no, not in a shady way! Collaboration is Queen and utilising affiliate schemes and making the most of strategic partnerships is a super smart way to expand your reach.
If you’ve worked with interesting clients in the past or sold to people with a totally different audience, offer them a unique affiliate code. That way, you can give them an incentive to post about your product and tap into their audience to increase your sales.
Even if you don’t see immediate results from affiliate codes, utilising your network in this way is fab for expanding your audience and increasing brand awareness over time.
Make sure your sales copy covers all bases. People will naturally always have questions, and if they’re not clearly answered, they might not actually have the incentive (or effort) to ask you. They might just click straight off and never think about your product again. And we don’t want that.
Preempt all the potential queries and craft a solid FAQs section to tick all those boxes.
If you want to take it to the next level, popping an automated chat or messenger app on your site is a great way to appear super high-end and professional. Create something with pre-set answers to ensure your audience feels nurtured and heard, without you actually having to set up a 24/7 customer service centre.
Yes, earning passive income takes time but nailing these basics is the perfect way to get that passive income rolling in. By creating solid foundations (aka your marketing, social proof, affiliate partnerships and more), your product should start to actually sell itself without any input from you. And that’s the dream, isn’t it?