A lot of people think that selling cheap digital products is the easy way to make money online
But there’s a huge problem with this business model.
You see, I once knew a guy who was literally ADDICTED to downloading. His lounge was like an Aladdin’s cave for digital hoarders. I’m serious. Along with about 10 or 11 hard drive’s there were stacks and stacks of CD-ROMs. This guy would go onto torrent site’s and grab anything he could get. Movies, TV shows, books, install files, magazines, digital products you name it. And even though he received numerous letters from his ISP nothing ever happened to him. The funniest thing was that he was completely unable to use any of this stuff. For example, it would have taken him about 20 years to watch all of the TV shows and movies he collected.
(Let alone read the books and magazines or use the software!)
In fact, most of it was dumped on this ever growing collection of hard drives.
And this brings me to the point:
What you have to understand is that there are hundreds of guys like this.
In a quest to make money online these guys will grab whatever they can find.
A few of them may even pay money for this stuff.
But here’s the problem:
They immediately forget about it and do nothing.
The digital product sits on their computer growing digital cobwebs.
There’s a good reason why this happens.
Very few people care about digital content. Your product may seem highly appealing, but there’s very little chance that anyone will engage with it. These types of products are seen as low value (which is why they are so cheap in the first place) and this is a massive problem if you’re in the business of selling information.
After all, if no one engages with your product then no one benefits from it.
If customers don’t benefit they get buyer’s remorse.
The customer feels as if they’ve wasted their money.
And the next thing you know they want a refund.
In this way THIER laziness becomes YOUR problem.
Even worse, these customers aren’t going to buy more products.
So what’s the solution to these problems?
First of all, raise your prices.
Doing this will weed out lazy people.
More importantly, you need to start selling physical products.
People don’t forget about physical products.
This is because your product is REAL.
It’s not some abstract collection of 1s and 0s on a computer.
What’s more, every time they see your product the buyer knows they actually got something.
They’re reminded that it’s their responsibility to consume the product.
They are the one at fault…not YOU.
And eventually they may even read the book or go through your course…
…have a great experience and buy more stuff.
The takeaway is this:
You need to start selling physical products.
This is the key to increasing engagement as well as growing your brand and business.