Jan. 12, 2025
Ep 119: Scaling Your Service Business with Digital Products: Insights and Strategies
Discover how to successfully launch your first digital product and scale your service business in this informative episode. You’ll learn actionable tips on audience building, pre-selling, pricing strategies, and ongoing marketing for digital products.
• Discussion on adding scalable offers
• Emphasis on starting small with digital products
• Understanding the importance of validating ideas through pre-selling
• Strategies for building an audience and leveraging partnerships
• Exploring existing resources for product creation
• Insights on pricing strategies for perceived value
• Importance of managing time effectively in product creation
• Discussion of the necessity for ongoing marketing efforts
• Final thoughts on launching a digital product successfully
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00:00 - Creating Scalable Digital Products
04:28 - Developing and Launching Digital Products
11:22 - Audience Building for Digital Products
20:06 - Digital Product Pricing and Marketing Strategy
27:21 - Effective Product Creation and Marketing
WEBVTT
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Welcome to Tiny Marketing.
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This is Sarah Norblach, and this is a podcast that helps B2B service businesses do more with less.
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Learn lean, actionable, organic marketing strategies you can implement today.
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No fluff, just powerful growth tactics that work.
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Ready to scale smarter, hit that subscribe button and start growing your business with Tiny Marketing growing your business with tiny marketing.
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Hello, welcome to episode 119 of the tiny marketing show.
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I'm Sarah Noel Block and today we are talking about the next phase in our service business, and that is adding a scalable offer to our business, and the easiest, lowest threshold way to do that is through a digital product.
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Today I am talking to Renee Morovich, who is an expert on creating your first digital product.
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So stay tuned so you could be a little fly on the wall of my conversation with Renee.
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Hey everyone.
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Hey everyone, I'm renee and I help service providers create digital products.
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Uh, specifically, their first digital product.
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Yes, I'm excited and simple.
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I'm excited about this.
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We are bringing this as part of a scalability series, so this will be in conjunction with, like how does a service provider start a group program?
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How do you launch digital products?
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All of those things that we start thinking about once we hit that threshold and we're like, well, shit, I don't have time to add any more clients and I'm kind of at a ceiling on what I can make.
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So this is an awesome way to like dip your toe into that scalability.
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So yeah, I love that and I love like, yeah, go ahead.
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No, you go ahead.
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Yeah, I like the small, like literally like dip your toe and not like dive off the deep end sort of thing.
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Like let's just do something small and see kind of how it works.
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Yeah, let's test the waters on that.
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Speaking of test the waters, can you just give some examples of what you would consider digital products?
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Yeah, this is a very common question that I didn't think of when I had first gotten started.
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But I think of like excuse me, like toolkits, workbooks, guides, maybe an ebook, you know something that's very small workbook, if you want something that is kind of like a step above a lead magnet, but something that really focuses on one thing.
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It isn't just, you know, 57 videos and 27 different modules, like like no, much, much smaller.
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Yeah, that is exactly why I asked is because, of course, like an on-demand course, could be considered a digital product, but is that what you would consider?
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a digital product.
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Yeah, you can totally do that.
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But I don't recommend like as your first product because it takes a really long time to create that.
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And if you don't know what you're doing which you don't because you haven't done this before then I don't think that starting with something like that is really great.
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Like, start with something smaller, see if you can get people that win, see if you know how to market it, see if you can attract people, see if you can get sales, and then, once you kind of figure out, you know you can kind of scale from there.
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You know you can make another product a supplement to it.
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You can make it bigger, you can add on to it, you can make your course, whatever it is.
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But starting small, I think, is very helpful for people because you want to see some success on the other side.
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And if the other side is two years later and tons and tons of time invested and money, that's scarier to me.
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Let's find that out sooner, it's 100% scarier.
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I have always even from like before tiny marketing existed, I still had.
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I sold digital products still as like just me, and I always pre-sold them before I created them to see if there was even a market for them in the first place.
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Yeah, yeah, I've been thinking about pre-selling lately.
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I have had people on my podcast talk about that and that's a great way, and some people like never pre-sell and some people are like I only pre-selling.
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Lately I have had people on my podcast talk about that and that's a great way, and some people like never pre-sell and some people are like I only pre-sell.
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It doesn't matter If you wanna do it, it's a great way to validate.
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But I think that one thing people should be aware of is if you try to pre-sell and you don't have a big audience, you might not get the validation or the results you're looking for.
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So if you have an audience of like five people and three of them say yes, that doesn't necessarily mean it's going to sell or going to be a good product.
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So I think it really depends on the size of your audience and who specifically is on your list.
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Like if your mom and your neighbor are on your list and like yeah, we'll buy your product or like no, we wouldn't buy that because they don't need it.
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You know, just kind of focus on that.
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Like, think about that before you dive in.
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I touched on that a little bit before we hit record on your audience size, because when you're doing digital products anything that's scalable you need a bigger audience for it.
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So what's your advice there?
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Is there a threshold people should be at before they start going down this path?
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I think that you should at least be on the journey right.
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So, like having a product and being like I don't have any email lists, like, oh, it's going to be harder.
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You know, you can still borrow other people's audiences and there are things that you can do affiliates and whatever but I think you should have an idea before you dive into it.
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Like you know, thinking of an idea for a product and building the product is great, but knowing how you're going to market it is also good.
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So, you know, maybe you have already started that email list and maybe you put out free content and you have a lead magnet.
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Those are all good things to be building the audience.
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Do you know what I mean?
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Like I think that that is helpful.
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Do you know what I mean?
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I think that is helpful.
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Yeah, maybe it's because I'm a marketer, but I am like build the audience first.
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You need the plan to be able to sell.
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You need to know how many people.
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If you have a goal around your revenue for this digital product, you can do the math and figure out how many people you need to get in front of in order to sell to that amount, and I don't know.
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So you talked about borrowing other people's audiences.
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So I just wanted to touch on one thing real quick before we get into it a little bit deeper.
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But, like Mariah Cause, jordan Gill, those big online players, they've been talking a lot lately about how beneficial digital products are in building their audience when they're doing the borrowed audience thing.
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So webinar swaps, newsletter swaps, whatever, newsletter swaps, whatever but they use digital products and they use 100% promo code in order to convert that audience to theirs because there's a value attached to it, so they're more likely to convert.
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So that's another reason that it's beneficial to have that digital product.
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You're adding a value to that knowledge piece that you're selling.
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But let's talk about borrowed audiences.
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What, in your experience, has been a good route to go in borrowing audiences, doing partnership collaborations?
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Yeah, I think it really depends on the product, like whatever industry you're in finding people who are in similar industries, you know, so that you know they don't offer this product or service but it works nicely with your product or service.
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So you know, really, just, you know, it's kind of like networking.
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It's like looking around for people, seeing who might fit.
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You know, listening to podcasts, but it could be anything from guesting on podcasts, like you said, newsletter swaps, bundles are something that people participate in.
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There's really like a lot of opportunities out there and I think that it's kind of distilling it down and figuring out what would be best for you and your audience.
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You know, if you're not a video person or you are an audio person or you love writing, you know, even people still do blog post swaps, like guest blog posts.
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You know, I think we think like, oh, blogging you said it's not, it's still out there.
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So it really I think you know, look around and see what might work for you and what people in your industry are doing or related industries.
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Yeah, Someone was asking me the other day why don't you ever name any of the blogs that you manage?
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A blog, I'm like it sounds like 2015.
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Yes, people are still reading content.
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I'm a reader.
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If there's a video and a blog, I'll read the blog any day or the video, but blog just sounds so old school.
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I want to read a guide.
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I want to read your article base, your content base.
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Well, we were talking actually about.
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What are some examples?
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Toolkits, whatever I said, ebooks, and I kind of felt that way too.
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Ebooks sounds old, but really it's just a collection of written information in a specific form, in a form that you can read on your Kindle or your e-reader.
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I think people still do that.
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But yeah, I know what you mean about the things sounding older.
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It's like webmaster.
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Webmaster used to be a thing.
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Nobody calls it that anymore.
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No, yeah, so all these things still exist.
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They're not dead, it's just different naming conventions.
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Now For sure, okay.
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So I wanted to talk about.
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You specialize in working with people on creating their first digital product.
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So what is your thought on taking something that you have already created that you use and trying to figure out how to make that a digital product, like the templates that you've created?
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Yeah, no, I think that's a great place to start.
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I have a lead magnet that talks about, like, how to find an idea for a product.
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You're like, okay, I'm at this point I'm a service provider, I'm full up on clients, I can't take any more clients or I don't want to, but I do want to kind of try to diversify my income, maybe try to serve people that can't afford to work with me or whatever it is.
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And you know that's a great place to look at what you've already created instead of starting from scratch.
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So I think it's a great place to look in the things that you've already created, already created for yourself, already created for clients, because you don't want to start from scratch.
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You don't want to open a Google doc with, just you know, big white screen and be like, okay, digital product, go like that.
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Nobody can do that.
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So look at the things that you have already created.
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And yeah, I've had some people on my podcast talk about this too, where they had something actually that they gave away for free and it wasn't doing really well, and so they kind of polished it up right.
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They put a video in front of it a little.
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How to you know some more marketing like why use this, who is this for?
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And really, in the polishing, it became the product.
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So I think it's a great, great idea to look through your, your Dropbox or your Google drive or wherever you keep your files, and see like, okay, what have I created?
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And maybe it's not just one thing, Maybe it's a couple things that kind of morph into one thing.
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So, yeah, don't start from scratch.
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Yeah, I am a big fan of bundles.
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Every digital product I've created is a bundle.
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It's like the templates that I used a video to show you how I use it.
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It's whatever's working for me in some thing that I do and I just put it together with a video so you know how to use it.
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yeah, exactly, and I think that you know things that have worked for your clients.
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You know, you know if you're, if you're going that route, like things that have worked for you, great.
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But also things that have worked for your clients, if you've gotten some feedback on that, like, oh, this was really helpful or oh, I didn't know that, I didn't know, I needed to know that.
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Like, that is all great information.
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Anything that you're getting feedback on that is working, in addition to looking at what you've already created, I think is a good place to start.
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You know, yeah, don't start from scratch.
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Yeah, that's a good point.
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So combing through, like your sales call transcripts and seeing what were people asking for, or if you do like I do delivery day calls, where the day I'm delivering whatever the thing is that I'm doing for them, I have a call with them and usually something will come up like well, do you have a template for this so I'd be able to implement this on my own or whatever, and that's like perfect, perfect digital product fodder.
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Yeah, when people ask for something and you can even look.
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Another thing I advise is looking through your free content.
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So looking at your newsletters, looking at your blog posts or your videos or your social posts.
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What are people gravitating towards?
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If there's a specific topic or if they're responding, you know they're replying, they're liking, they're sharing whatever it is.
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However, they're engaging.
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Look at that, those topics, to help kind of guide you, you know, to kind of give you a head start again, not from just that blank screen.
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Yeah.
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Yeah, and that advice.
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You can pull that through pretty much everything in marketing.
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You can use micro content as a jumping off point for testing what kind of marketing is going to work for you.
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That's how I figured out what my positioning would be.
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I was like, well, there's these three things that make me unique.
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Let's test these out and see what resonates with people.
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I was like, oh, working in a small marketing department or having no marketing department, that's what resonates with people.
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Okay, I'll lean into that one.
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Yeah, and making sure you have enough people to pull.
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So the kind of the building of the audience and the polling of the audience.
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It kind of it's not just like a linear thing, like you know you get to X number of people and then you can ask them questions, like it.
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You know it's.
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It's kind of an organic sort of thing, like as you're building it and as you're asking questions, you're modifying and you're tweaking and you're kind of changing your not changing your messaging, but honing in on your messaging and then starting to create those things that people want.
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So it's you'd asked before about like a specific number.
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I don't think it's any specific number.
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I think it's, you know, depending on how engaged your audience is and really like where you feel comfortable, and some people feel comfortable launching something earlier just to kind of test it out.
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I've talked about this with people before about emailing.
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Some people think that as you're building your email list, you have to build it to a certain number of people before you send emails, and I don't think that's a great idea.
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I think that you should be sending emails to those five people that are just on your list, because that's how you practice and that's how you find your voice and that's how you get into a routine, so that when you have 100 people, 500 people, 3,000 people, then you're good at it.
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You're not like, okay, 3,000 people.
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This is my first email to you.
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It's going to be terrible.
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So be doing it all along.
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Well, and then your list is so cold by the time you finally emailed them.
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I promise you you will get a ton of unsubscribes if you do that.
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Exactly.
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They're like who is this person?
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You know, we signed up for it four years ago and we have no idea what you are and this isn't relevant for me anymore.
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So yeah, definitely Exactly.
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Okay, let me see.
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What are we missing here.
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Okay, let's talk about how to pick the audience that you want to sell to.
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This is tough.
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So I have a couple of different audiences that I recommend people sell to as service providers, so you can create something and sell something to people that you don't know and have no contact with or no audience.
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I don't recommend that.
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That's harder because you have to find those people.
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So people that you may already be in touch with could be your peers.
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So if you've been doing this for a long time, maybe you have a nice network set up of peers, maybe you go to industry conferences or something like that, and that could be one group of people to sell to, because you are established, you've kind of worked out all of the kinks, you know how everything works well for you, the software you use and your processes, and you've kind of honed it over time.
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So that could be one place to start.
00:16:07.519 --> 00:16:10.405
Even you could throw some affiliate marketing into that too.
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Like I use the software you know buy my you know welcome kit bundle that I give to my clients and, you know, sign up for a free trial of my email marketing software.
00:16:20.708 --> 00:16:24.543
So your peers I think is one group of people that you could sell to.
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If you're looking to increase your audience, I guess in your service you could sell to people who are not ready to work with you yet or maybe can't afford you.
00:16:35.636 --> 00:16:47.135
So people may be early on in their journey and I think this is a really powerful audience because you stay in touch with them and as they grow they may want to work with you one on one later.
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It's a really long.
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What do we call it?
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Long sales cycle?
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I suppose yeah, long journey like just a long.
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It could be a long time and maybe those people don't work with you.
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But you know it gives you an opportunity to share your knowledge with people without that one-on-one time commitment.
00:17:05.685 --> 00:17:10.026
So if you build something and 10 people buy it, you know just throwing numbers out there, 10 people buy it.
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You've helped 10 people that you didn't have to sit with one-on-one and explain.
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You know each time.
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So that's kind of like the, the DIY crowd.
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And the last crowd I would think of would be people who are almost ready to work with you.
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But wouldn't it be great if they were just a little bit more ready?
00:17:28.358 --> 00:17:41.704
So one example I give is, you know, for for web designers, creating something where people can create their web content and then come to you with their content ready, like that's like a web designer's dream and someone who has their content ready.
00:17:43.676 --> 00:17:45.343
I just want to touch on that real quick.
00:17:45.343 --> 00:17:54.752
That's so brilliant because it's also the first stage of what they would need to do already to work with you, so it's like prepping them to work with you.
00:17:54.752 --> 00:17:55.655
I love that idea.
00:17:56.519 --> 00:18:04.778
Yeah, so they get some value in a lower price product where they can be guided through that creation process.
00:18:04.778 --> 00:18:09.429
And then they come to you and they've gotten value out of that.
00:18:09.429 --> 00:18:11.359
So they're ready then to work with you.
00:18:11.359 --> 00:18:13.767
They're like, okay, I got so much great value from Sarah.
00:18:13.767 --> 00:18:18.436
I know I want to work with her one-on-one and I'm even more ready than I would have been otherwise.
00:18:19.078 --> 00:18:22.887
So it's kind of like a I don't want to say it's like a strange audience.
00:18:22.887 --> 00:18:27.617
I think maybe some people don't think of that, but I love that kind of thing.
00:18:27.617 --> 00:18:31.681
Like you're just kind of prepping people and you don't need a ton of sales in that case.
00:18:31.681 --> 00:18:32.800
So you don't need to sell.
00:18:32.800 --> 00:18:35.563
You know, 500 copies of your workbook.
00:18:35.563 --> 00:18:40.105
You know, if you sold a couple, it's basically like a paid lead magnet in that case.
00:18:40.105 --> 00:18:47.230
So it's not so much like the sales from the product that are really like the income, but it's.
00:18:47.230 --> 00:18:55.858
You know, you're kind of pulling people in to working with you one-on-one, being more prepared, and then you know you're charging that higher rate with your service.
00:18:55.858 --> 00:18:57.142
So I like that group.
00:18:57.142 --> 00:18:59.105
Yeah, it's a gateway offer.
00:18:59.707 --> 00:19:02.762
It pulls people and prepares them to work with you.
00:19:04.126 --> 00:19:07.356
Yeah, there's another group of people I really haven't talked about much.
00:19:07.356 --> 00:19:19.173
This came up recently and I was thinking about recording something about it but for the service provider, who is a local service provider, so they provide their service only in a specific geographic region.
00:19:19.173 --> 00:19:20.616
We think service providers a lot of times.
00:19:20.616 --> 00:19:49.537
We think marketing, web development, copywriting, things like that, where you can kind of do it from anywhere, but a local service provider, for example, like a photographer, like a makeup artist, something like that where you're together in the same room providing that service for them to be able to create digital products and expand their, their customer base, basically without, you know, leaving that geographic area, so that's kind of an another audience I've been thinking about, but haven't really kind of fleshed that out yet.
00:19:50.538 --> 00:19:55.968
Yeah, I can see that that would also like if you were to do that.
00:19:55.968 --> 00:20:06.204
They would also be probably good partnerships because they have connections to other people that are within that community that would also want to buy that thing.
00:20:06.204 --> 00:20:08.576
Yeah, for sure.
00:20:08.576 --> 00:20:13.615
So price points, what do those look like for digital products?
00:20:13.615 --> 00:20:14.756
So price points, what do those look?
00:20:14.796 --> 00:20:15.596
like for digital products.
00:20:15.596 --> 00:20:16.718
I think it really varies.
00:20:16.718 --> 00:20:20.343
A couple just kind of broad stroke things to say about price points.
00:20:20.343 --> 00:20:35.068
I think with a first product, if it is something that is smaller, keeping that cost lower but not too low, some people will be like I want to sell this for $7, which is fine, but you have to think about that perceived value.
00:20:35.068 --> 00:20:46.207
So if somebody is with a lead magnet, for example, getting something for free, oftentimes we sign up for it and then we never get around to it, but we don't feel bad about it because we didn't pay anything for it.
00:20:46.775 --> 00:20:48.661
So it could be the same for a digital product.
00:20:48.661 --> 00:20:55.362
So I like to advise that you just talk to somebody, just talk to a couple of colleagues.
00:20:55.362 --> 00:20:58.324
I bet they will tell you to increase the price.
00:20:58.324 --> 00:21:06.465
You can always do a sale if you want to, or a bundle If you have more than one product, you can bundle them together for a certain cost.
00:21:06.465 --> 00:21:08.734
Like there's a lot of things I think you can do with the pricing.
00:21:08.734 --> 00:21:19.826
I just don't love those like really really really low, low price products because I think the perceived value is a little bit, you know, kind of wacky.
00:21:19.846 --> 00:21:28.663
Yeah, I would say the majority of the digital products I run across are between like 27 and maybe 197.
00:21:28.663 --> 00:21:33.435
You know everybody loves sevens, but yeah, exactly yeah, what is it with that?
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