You’ve probably at least thought about creating a digital course to generate passive revenue.
Many entrepreneurs, consultants, and businesses want to capitalize on their subject matter expertise and grow sales from it, and a digital course is a great way to build a product once and generate passive income – for years.
As evidence, there are droves of people creating online courses and trying to sell them.
Online courses are generating big money. Online learning has already generated $107 billion, and by 2023, It’s expected to expand beyond $325 billion.
If you have specialized knowledge in a specific area and you’re willing to invest the time to create a course that SOLVES a problem for students, then it’s time to consider launching your online product.
With this online product launch checklist, you’ll know exactly what to do.
If you’d like to learn more about the digital product launch steps you should follow, read the full blog: The Ultimate Guide To Creating Digital Products That Fly Off the Shelf.
Once you create your digital product or online course, you need a plan for launching the product or bringing it to market. Your product launch plan should include steps you take to get the word out about the course and then ensure that it sells.
Begin by doing some research on the internet. What courses are available? What’s not available?
What’s your area of expertise? Can you solve a specific pain point?
The best digital course topics are generally those where there is lots of interest but no existing courses. OR there may be courses that exist but yours would solve a specific problem that no other online course provides a resolution for.
You’ll need a “waitlist” so you can email people about your course.
Since you’re only “validating” the idea at this point, the email list can be made up of colleagues or friends and family – but they need to have an understanding of what you do.
Better still if the email list includes actual customers.
Alternatively, you can use an engaged social media community as well. If you’re already active on Instagram or another platform, use that audience to test your idea.
In addition to your email list, you’ll want to build another list of prospects.
Build awareness of your brand and your course by writing a guest blog for another site. Just be sure that the website’s audience is comprised of people who would buy your course.
You can also do a partnership with another brand. You could even consider a revenue-sharing opportunity. For example, if the company agrees to do a webinar to promote your course to their audience, you could give them 10% of the sales.
Now that you’ve built a robust email list, the next step is to create a sales letter – we call this a hypothesis – that describes your course. (Remember, you haven’t created it yet.)
Don’t skip this step. It WILL save you a ton of time and money. Trust me.
The point of validating your idea is to test the market to see if there’s enough interest, or that people will buy enough of your product to make it worthwhile to create.
Do you want to spend 90-240 hours creating a course (the average time it takes), only to discover no one will buy?
Of course not.
The hypothesis should introduce the course subject, touch on some problems your audience has, and then show how your course solves that problem.
When you send the sales letter email to your list, ask subscribers if they would buy the course. You don’t have to actually ask them to buy the course. Just ask if they’d be willing to buy it for a certain price.
This gives you a gauge of whether there is enough interest in the course.
If there is, you can start building your course.
At this point, you’ll be assured that you’ve landed on the right idea and that people will buy it.
If there isn’t enough interest, go back to step one and tweak your idea.
You can build the course and market it yourself, or you can outsource the job to professionals.
At Flight Media, we do both.
We offer DIYers access to our Scale Up Courses, a step-by-step guide to building your digital product on your own.
Or, you can talk to us about partnering together, where we do all the legwork and you reap the rewards.