August 19, 2010, 8:40 am

Creating a Digital Product For Online Profit In 5 Steps

by: MD    Category: Alternative Income
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Last week I wrote about tips to make money online from freelance writing because it’s something that I’m currently doing. Today is my turn to cover the topic of creating an online product for profit. Creating a digital product for my readers is something that I’ve been slowly working on for the longest time. When my first product will be launched is unknown (just being realistic). Fortunately though, I’ve been speaking with successful internet entrepreneurs on this topic. Below are a few tips that we can all apply towards creating our own digital product (eBook):

1. Find an audience.

First you need to decide which audience you will write for. You could create the product for the audience on your current blog. You could also decide to pursue a joint venture and have the product offered on a more popular site. Either way there needs to be an audience for you to sell to. Without an audience, you’ll either make very little money or will be forced to charge higher prices.

2. Solve a problem.

What exactly are you going to write about? What problem will you solve. You need to solve some sort of a problem or deliver an effective solution if you want your readers to invest their hard earned money into your product. I cater to the 20-something crowd, so the problems that I try to solve when it comes to money management revolve around dealing with student loans, increasing income, and saving more money. Depending on your field you’re going to have to solve some sort of a relevant problem that others are seeking a solution for.

3. Start writing.

This is the hardest part. It’s way too easy to get distracted by everything else and focus on everything else, but the writing. I personally go through writing spurts where I’ll pump out thousands of words of high quality content. Then I’ll get lazy for the next few months. It’s a viscous cycle but one that needs to be dealt with. Everything else will become irrelevant if your writing isn’t up to par. You can have the most expensive logo around, but it’ll be useless if you don’t start writing and put together an exceptional piece.

4. Find distribution for your eBook.

Once you’ve got all of the writing out of the way and have your digital product packaged and ready to go, it’s time to decide how you’ll distribute it. After asking around, it seems like the two most popularly used options are Clickbank and E-junkie (apparently easy for figuring out affiliate payments for those that help you). The fees are fairly low for PDF files and the whole distribution process becomes hands-free for you.

5. Get help with promotion.

In a perfect world your blog would have enough interested readers to support your new launch. The reality is that you’re going to want to reach out to other bloggers for help. The best part about this is that if you run a blog or you frequent the discussions on blogs, then you already have a strong network in place. This is the time where you’re going to want to reach out to your network of peers and ask them for helping with promoting your new venture. In return for this help, you should consider offering an affiliate program or some sort of high-value guest article for further assistance.

When I finally do get a product launch going I’ll make sure to follow these 5 steps and share my progress with you guys. Now it’s time for me to turn the table and ask you all: Have you made money online through launching an eBook? Have you considered it?

Img src: Sean Dreilinger

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Great article. Step 5 is the most difficult one.
I’ve considered it, but honestly I don’t have the time to pursuit such a goal right now 🙁

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