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.

Survey Monkey:

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.

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

    1. Marketing Harry September 18, 2021 at 2:13 pm #

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

    2. Imoh Job September 18, 2021 at 2:21 pm #

      Interesting. keep doing the good work!!

    3. AskAwayHealth - Simple Health Information Online September 18, 2021 at 2:21 pm #

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

    4. DesignedEra - Design your Dreams September 18, 2021 at 2:57 pm #

      Thanks for this great content Neil ❤️

    5. Mr. Nobody September 18, 2021 at 3:11 pm #

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

    6. Shatta Cleve Wright September 18, 2021 at 3:59 pm #

      Give thanks for laying it out, now its time to build the BRAND.

    7. Christofix September 18, 2021 at 4:06 pm #

      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

    8. Marketer Chintan September 18, 2021 at 4:42 pm #

      Great Breakdown, awesome work

    9. Rajender Pal September 18, 2021 at 4:55 pm #

      What is your business plan where as you are already sharing all the secrets online?

    10. TheyCrashed September 18, 2021 at 5:43 pm #

      What do you think about PLR items and distributing email lists? Would love your input, Neil. Thanks

    11. Promothash Boruah September 18, 2021 at 6:02 pm #

      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?
      Promothash Boruah

    12. Make Sales Faster September 18, 2021 at 7:01 pm #

      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.

    13. Guy Rosin September 18, 2021 at 8:47 pm #

      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.

    14. Casual Work and Play September 18, 2021 at 9:52 pm #

      Thank you, Neil!

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