How to Develop & Sell a Digital Product, Step by Step (1 Million Revenue Formula)

Do you want to sell a digital product and make money? Look, I've done that. And I've made millions of dollars from that. Even though I don't do that anymore, I still know how to do it really well. Today, I'm going to teach you how to develop and sell a digital product step by step. I'm going to break down my million-dollar formula.

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Step number one, run surveys and through Survey Monkey, you can find out what your audience wants, the problems, the pain points, their dreams. Here's the thing. If you don't know their pain points, their issues, then you're not going to know what product to create. This is really important. If you don't have audience, that's okay.

Figure out what product you want to create or what industry you want to be in more so you didn't have to figure out what product more so the industry and go talk to people and figure out what issues they have. Once you get these pain points. You'll now know what product to create that can solve these solutions. Because if everyone's telling you they got the same problem.

Step number two, you need to create a webinar. One of the best ways to sell a info product is through a webinar. And when you're selling a webinar, you want to hook them early. And that would be what I would create a webinar on and I'm hooking them because they want to learn that. And then I give them a reason to stick around.

And through tools like WebinarJam or EverWebinar, you can actually show a call to action. When you're talking about your solution and people can click a button and buy it. And what's cool is when you're doing this, you'll start getting a lot of clicks and a lot of sales because people were there for the whole webinar learning or sharing, be like, "Yeah, I would love a way to get this done quicker and faster or more automated and easier", right? Step by step. So speed and automation, anything that can make someone get the results faster or with less work is a way to get majority of the sales.

And when you're offering this, step three, make sure you have a money back guarantee. That way they know there's no risk. And if they're not happy, people don't have to, you know, be stuck with it. They can get their money back.

Step four, offer ongoing training updates, and weekly coaching. And when you do this and you keep adding new products, new deliverables, it makes it where you can keep selling more and more. And it just makes it so much easier. Now, every year you need to refresh your product. If you don't do that, but if you do, you're much more likely to generate way more sales.

Step five, create amazing community. People who want to do courses with other people like them, because people want to go throughout this journey, learn with others, just like when you go into a classroom, or a college class or a high school class, people want to learn with others, have a group, be able to work together, help each other, solve their problems, super effective in getting more sales.

Step six, scale up your revenue with paid ads. If you already have an audience, send those emails out, convince them to get in there. But if you don't, start with Facebook ads and then YouTube second, and just have a hook on a free webinar.

Step seven, be patient because you may not get all the revenue you want right away. So you have to use Google analytics to create a funnel and see where people are dropping off. It could be they're dropping off of your webinar or your checkout page, or they're asking for a refund within seven days or 30 days.

Anyone who tells you you're going to get this results and make the money within one day or 30 days is usually full of it. It takes some testing and tweaking, but within three to six months, you should see amazing results.

#SEO #NeilPatel #DigitalMarketing

[makesalesfaster]

Pure gold Neil! While you admit you don’t sell a direct service that you address in the video, you are so generous sharing your VERY PRACTICAL tips on how to make money with Digital Products. I was particularly intrigued by the way you described how to conduct a webinar and ways to add sales all around that like with FREE or $1 offers. Stylistically- I love how you deliver the message. You are relaxed and off the cuff AND your obvious real world experience comes through in how concise and tight you made this video. Thanks for this! Going to favourite this.

[MarketingHarry]

Great breakdown, Neil. Really useful. Digital products are a very good way to build an income stream!

[AskAwayHealth]

Really want to get this off THIS year so love these tips on digital products! Cheers

[TheLisaTorres]

Thanks for the breakdown. Doing s survey to pinpoint problems is huge.

[hypnotizeorwhat]

Hi Sir,
I'm in a problem I need your suggestions I'm 20 year old I had been learning about everything like seo, blog, website, affiliate marketing and how to advertise things on different platforms from you and many other youtuber now I'm at a stage that I wanted to do affiliate marketing so that I could get experience by selling and marketing someone else product so I could start my business in future but the problem is I have no money to start and if I ask my parent that I wanna do job so that I can earn money to start affiliate marketing they will tell me that first complete your studies then you can do anything you want to do
What will you do sir if you were in my position? I'm very confused 😕

[garygraham]

This is a great set of tips. Thanks again for all the content.

[christofix]

Very interesting, but I have a question. I like the idea of refunds, but how do you fix the problem of people taking a copy of your digital product and still asking for the money back. If they do, you've given your product away for free. Or am I seeing this wrong?
Thank you in advance for your answer, Neil.
Greetings, Christophe

[mr.nobody]

Hi Neil, Can you tell how to decide a niche? How do we know what's trending? Is there something better than Google trends?

[ericmgoddard]

Thanks Neil, they were big numbers. Thanks for helping me replicate those All being well 😊

[quierovivirensanantoniotex]

Hi Neil how would you price the digital product ? What price range would you suggest on the different digital products ?

[imohjob]

Interesting. keep doing the good work!!

[thefa]

Hi there hope you are having a great time, would you mind informing me about how can I get delegation of a digital product like a software?

[guyrosin]

Great video Neil! My offer was to sell my ebook via a landing page and then I was going to create the course for them to follow but then I though I would offer to set up their chosen business for them for a larger fee. Should I sell the ebook with a upsell or use chapters from my ebook and take them through an email sequence and sales funnel or jump straight in with the offer. I cannot seem to lay it out in my mind on which is the best way forward. Thanks.

[kimvangvideomarketerbangko]

What was your background before you started building that traffic flow and eventually developing that product?

[samsamo]

We have build a multi vendor and online shop software in PHP programming language, easy to use and better than woocommerce (no needs for plugin etc.) without email list, I think we need to start with paid ads?

[SherryXshi_]

Thanks for the info. who/professional/ companies do you recommend to build the digital product website/landing page, training cause website, and marketing ... the whole step by step ? because people like us don't have the skill to design websites, create content, and all the marking which all take time and strategic planning. Any solution for this ? thanks.

[CarsSupercars]

Hello Neil, Good tips. I own a digital product with 7 days refund. People use it and after 4 or 5 months they claim with bank that they didn't buy it. This sucks. I hope you have also faces similar issues. Any hack to solve it?
Best,
Promothash Boruah

[Mahendrakhetiyani]

Hey Neil, I really inspired by your journey . You are doing such a great work, keep it up and grow it. I have a doubt related to HTML Coding that how it's impact on website and how to develop a coding skill.
I hope you will reply 👍

[mari]

Is bookbolt the best option for low content books?

[officialNikunjvaghasiya]

Hey i am now in India can I sold my saas app in top tier country Neil bro