How To Find Your Big Idea For Your Digital Product
Have you ever thought about turning your passion about guitar or your experience with sales and marketing into an online course or an ebook or a membership site?
I launched my first digital product back in 2015 and since then I’ve sold thousands of tickets to my online conferences, I’ve sold online courses, ebooks, and I am constantly creating more profitable digital products for my business and for my clients.
So I have a lot of lessons that I have learned because I have made a lot of mistakes, which I’m going to share with you, as well as strategies that have worked really well which I’m also gonna share with you.
But first, let’s talk about finding that big idea for your digital product.
What Is A Digital Product?
Before we dive into finding that big idea, let’s talk about what is a digital product. A digital product or an info product is basically a product or a tool that you sell online – something that you create once and can be sold many times.
Examples of digital products include ebooks, online courses, online conferences which is what I am known for, webinars, membership sites, audio files – basically all of them are products that are delivered online.
Some digital products can be created in a matter of a few hours, some take weeks or months to create. A lot of people also associate digital products with passive income, but the truth is some digital products aren’t as passive as you might think.
So how do you actually take what you know and make it into a digital product and monetize it so that it becomes another stream of income for you?
The Riches Is In The Niches
To find your big idea, I want you to start by thinking about the niche that you want to be in and the ideal customers that you want to target.
I want to stress the word “niche” because a lot of people try to create a digital product that targets the widest audience possible because in their minds, they want to appeal to everyone thinking that by appealing to everyone, they’re going to make the most money.
However, the saying “The riches is in the niches” is absolutely true.
When you focus and narrow down the niche you want to be in, you start to target a group of people who are going to really resonate well with your messaging and your product, and they are going to be most likely to buy your digital product.
Step 1: Start By Thinking Broad
So here’s how to identify the niche you want to be in:
First, let’s go broad. Think about the general industry that you want to be in, which is usually what you’re good at or have experience in or you have a passion for it.
For example, gardening, personal savings, guitar. If you don’t know what that is, think about what is it that you’re great at and something you cannot believe people would actually pay to learn from you because it comes so naturally and automatic to you.
This is also the stage that a lot of people stop at. They have a passion for gardening so they decide hey I’m going to create an online course about gardening. I don’t want you to make this mistake, which is why I want you to pay attention to step two.
Step 2: Who Is Your Target Customer?
Step two is figuring out who you really want to target as your ideal customers, which will then help you further narrow down your niche.
For example, if you are passionate about gardening and you want to create a digital product about gardening, you would want to think about who exactly do you want to talk to – maybe they are gardening lovers who live in small apartments in big cities yet they want to own a small garden in their apartments, or maybe they are busy moms with five kids and they want to grow their own organic vegetables in their yards.
So I want you to narrow down your target audience so that you are not targeting everybody or in this case, every person who loves gardening.
Remember, it might feel counterintuitive to narrow down your ideal customers, but don’t forget it helps with creating the right messaging and a right product that will truly resonate with this group of people who will then most likely purchase your digital product.
Step 3: Are They Looking For A Solution AND Will They Pay For It?
Once you’ve narrowed down your target audience, I want you to ask yourself if your target audience is actually looking for a solution and is motivated enough to pay for the solution.
The reason why I want you to think about these questions is because we want to create a digital product that people actually are looking for and are willing to pay for.
For example, maybe you are passionate about cactuses and you want to target millennials who love cactuses and want to learn more about cactuses and you’re ready to create your first ebook or your membership site. But are millennials who love cactuses actually looking for ebooks or membership sites about cactuses and are they actually paying to learn more about cactuses?
So really think about that and do your research well before you decide on your big idea.
Are you thinking about creating your first digital product? What will be your BIG IDEA? Let me know your big idea below!
Chrys was bitten by the entrepreneurial bug at an early age. By age 27, Chrys has started and ran two online businesses. Chrys now runs Chrys Media, a company that runs online conferences for online entrepreneurs.