You don’t need a huge audience to launch your first digital product.
When I launched my first digital product, I had less than 150 subscribers on my email list. Believe it or not, you can make some REAL profit without having a huge email list.
Commonly, however, people think that you need a huge audience to make lots of money with your blog. That’s definitely true of methods like Google Adsense, but you can actually generate real revenue with digital products–even without thousands and thousands of monthly visitors.
To wrap your mind around it, here’s a statistic: The typical e-commerce conversion rate hovers between 2-4%. However, that includes mass retailers and small indie shops alike. For a website like yours where you are able to forge a real connection with your readers before selling them a product, your conversion rate can be much higher. When readers buy from you, they are buying because you have something unique to offer, and factors like shipping prices and getting the cheapest deal doesn’t come into play. Your uniqueness is your greatest strength, and the connection that you forge with your readers can lead to more sales, even with a small email list.
Here are some of the types of digital products you can create with a small blog:
An e-course is my Number 1 suggestion for the digital product you should create if you have a small audience.
Think about it. Let’s say your gardening blog has an email list with 300 subscribers and you want to sell an online course called Vegetable Garden From Scratch. You’ve priced it at $350. If you have a conversion rate of just 3%, that means:
- 3% of 300 people is 9 sales.
- 9 sales at $350 each is $3,150 in sales.
Not bad for a list of 300 people, right? As your list continues to grow, you’ll get even more customers and continue to increase your revenue.
2. A live training or workshop
Technically not a digital product, but it still counts! If you aren’t ready to launch a digital product yet, you can still use your blog to earn money! Having your blog positions you as an authority in your niche, and you can use this to book a paid live training or workshop.
After all, if you can write an entire blog about your topic, you can definitely give a live workshop for an hour or two! For advice on booking a paid speaking gig, read this post.
3. One-On-One Coaching Sessions
Reading a blog post isn’t one-size-fits-all. A one-on-one coaching session is a great way to offer customized support to your audience, and also allows you to charge a premium price for your time.
One-on-one coaching is perfect if you have a small audience because you don’t need lots of clients to earn a lot of revenue. You can charge anywhere from $30-$300+ an hour for one-on-one coaching, depends on your skill set, how common your abilities are, and your coaching experience. For example, if you teach a rare skill that requires years of experience and degrees, then you will be able to charge more than someone who is teaching a simpler skill with minimal experience.
4. Paid webinar
This could be a really cool idea for someone teaching a skill that requires demonstration.
For example, let’s say you run a sewing blog. You can run a 3-hour webinar in which you teach your viewers how to sew a certain item. If you charge, say, $30 a seat and sell even a couple seats, you can earn a couple hundred dollars for a few hours worth of work.
Paid webinars are a great way to earn money from a small audience because they require a small investment from your audience and if you run a tutorial, can give your viewers immediate results. Webinars can also be a source of recurring revenue if you package up the tutorials after you do them live and sell them at more expensive price.
5. A membership group
Paid one-on-one training is an option, but you can also turn this into a form of recurring revenue by having set up a membership group and charging monthly fees for it.
For example, let’s say your blog is dedicated to helping new puppy owners train their dogs. You can set up a membership group of people at a specific phase in the process (for example, when they first get the puppy) and then have them pay a monthly fee to get access to advice and community throughout the process.
6. Open Office Hours
What are open office hours?
It’s an hour or two in which you’re live on a webinar in which people can ask you anything related to your blog topic. You can charge for seats.
Open office hours are a great way to earn money from a small audience because they turn your small audience in a GOOD thing. A smaller audience means that the people who attend get even more access to you and you can answer more questions per person.
An e-book typically retails at anywhere from $10-40. If you have a very small audience, then it may not be worth it to create just a $15 e-book, especially if you may only sell a few copies. However, you may be able to turn a regular e-book into a more expensive (and valuable!) product.
For example, when I launched my book blogger workbook on my other blog, I was able to price the workbook higher because I included not only the workbook price in the cost, but also access to a free library of resources for book bloggers. This allowed me to earn more revenue and my customers to get even more value from the product.
Here’s my challenge to you:
If you haven’t already launched your first digital product, then I want you to pick one of the above product types and do more research on it. Ask yourself:
- What would this type of digital product look like if I created it?
- What topic would I make it about?
- What do I have to offer on this topic?
Make a plan and then start CREATING your first digital product.