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How to Create a Digital Product That Generates (AT LEAST) $100,000 Per Month
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How to Create a Digital Product That Generates (AT LEAST) $100,000 Per Month

Introduction

The speaker introduces himself and asks the audience if they have ever created a digital product and sold it online.

  • The speaker greets the audience and asks them if they have ever created a digital product and sold it online.
  • He mentions that he has good news and bad news, asking which one the audience wants to hear first.
  • The bad news is that what he will teach requires work.
  • The good news is that promoting a digital product has 100% margins.

Making Money Selling Digital Products

The speaker teaches how to create a digital product generating at least $100,000 per month.

Choosing an Industry

  • Choose an industry that is not too competitive by checking Google Trends for popularity.
  • Avoid competing with other marketers in the same space.

Example of Organic Traffic

  • Use examples such as Quick Sprout or Wellness Mama to generate organic traffic.
  • Wellness Mama gets 10 million unique visitors per month despite discussing topics like wearing goggles to bed or making your own sunscreen at home.

Primary Driver of Google Traffic

  • Links are the primary driver of Google traffic, so focus on building links for your website or blog.

Conclusion

  • Creating a successful digital product requires hard work but can be very profitable with 100% margins. Choose an industry that is not too competitive, generate organic traffic through examples, and focus on building links for your website or blog to drive Google traffic.

Unique Visitors and Affiliate Marketing

In this section, the speaker talks about the number of unique visitors to their website and discusses affiliate marketing.

Unique Visitors

  • The speaker mentions having a million unique visitors per month to their website.

Affiliate Marketing

  • The speaker discusses chargebacks in affiliate marketing.
  • The speaker talks about how US affiliate marketers move to the US Virgin Islands to avoid paying taxes.
  • The speaker suggests not taking advice from affiliates and instead learning finance from bankers.
  • The speaker recommends surveying readers or potential customers to get feedback on what kind of product they would be interested in.
  • The speaker suggests asking potential customers what their biggest problem is that they need help solving.

Surveying People for Product Development

In this section, the speaker emphasizes the importance of surveying people before building a product. He suggests that if you don't have readers, you can survey people within the industry or use platforms like Craigslist to find potential customers.

Importance of Surveying People

  • Survey at least 30 people to ensure statistical significance.
  • Ask people about their preferences and what they want in a product.
  • Ensure that your product is something that people can finish within three months but not quicker than one month.

Building a Product You Can Be Proud Of

In this section, the speaker stresses the importance of building a product that you can be proud of and put your face on. He advises against building a product if you cannot tell people it's your company.

Building a Product You Can Be Proud Of

  • Build something with longevity that you can be proud of.
  • Don't build a product if you cannot tell people it's your company.
  • Ensure that you are able to put your face on the product.

Lessons Learned from Launching an E-commerce Company

In this section, the speaker shares some lessons he learned from launching an e-commerce company. He emphasizes the importance of ensuring customers can finish your product within three months and avoiding starting an e-commerce company if it's too much work.

Lessons Learned from Launching an E-commerce Company

  • Ensure that customers can finish your product within three months.
  • Avoid starting an e-commerce company if it's too much work.

Payment Plans and Free Traffic

In this section, the speaker discusses how to generate revenue through payment plans and free traffic.

Using Payment Plans for Profit

  • Clickbank is a good platform for generating cash through payment plans.
  • Hotmart is another good platform that can be used in Brazil.
  • Payment plans such as 14 or 24 payments can make products more accessible to customers.
  • If done correctly, you can generate $2 in profit for every dollar spent on advertising.

Creating and Selling Digital Products

In this section, the speaker talks about creating and selling digital products.

Using Free Traffic to Sell Digital Products

  • Free traffic can be used to sell digital products.
  • YouTube ads are a good way to promote your product.
  • A case study of Ramit Sethi shows how he made $5 million in a week by using free traffic to sell his digital product.

Creating Webinars to Sell Digital Products

  • Webinar Jam is a good tool for creating webinars that can be used to sell digital products.
  • PowerPoint presentations should be at least 1.5 hours long with at least 20 minutes dedicated to sales and QA at the end.
  • By using webinars, you can show customers why they need your product and increase conversions.

Pricing Lessons Learned

In this section, the speaker shares pricing lessons learned from his experience.

Lessons Learned from Pricing Digital Products

  • If you sell a product for $5, you pretty much have to sell a lot of units (a hundred million visitors).
  • If you sell a $2,000 product, you only need 250,000 visitors.
  • The goal should be helping customers achieve their goals, not just making a profit.
  • Be aggressive with your pricing and don't be afraid to sell.

Why You Should Listen to Me

In this section, the speaker explains how he convinces his audience to listen to him and what they can expect from his presentation.

Sales Pitch

  • The speaker asks for at least 20 minutes of the audience's time for his sales pitch.
  • He offers a Q&A session at the end of the presentation.

Presentation Content

  • The speaker promises to teach something valuable or interesting.
  • He shows a buy button with the right price.
  • He gives real-life examples of his strategies.

Bonuses

  • Bonus #1: Implementation plan.
  • Bonus #2: Private lesson on getting a million visitors per month.
  • Bonus #3: Access to Facebook group where members help each other optimize their businesses.
  • Bonus #4: Framework that teaches 22 ways to drive more traffic.

Guarantee

  • The speaker offers a money-back guarantee if customers are not satisfied with their purchase after 90 days.

Introduction and Credentials

In this section, the speaker introduces himself and shares some of his accomplishments.

Introduction

  • The speaker introduces himself as Neil Patel and talks about his experience in building multi-million dollar companies using free traffic sources like YouTube ads and Facebook groups.

Credentials

  • The speaker mentions some of his accolades, awards, and bio information.

Value Proposition

  • The speaker emphasizes that he has valuable knowledge that works and can help the audience achieve their goals.

How to Engage Your Audience

In this section, the speaker explains how he engages his audience during his presentation.

Getting Attention

  • The speaker asks the audience if they are still listening to him.
  • He repeats important points for emphasis.

Keeping Attention

  • The speaker shows interesting slides and offers surprises like bonuses.
  • He uses real-life examples to illustrate his strategies.
  • He encourages participation through Q&A sessions and Facebook groups where members help each other optimize their businesses.

Avoiding Disengagement

  • The speaker avoids being too aggressive in selling his products or services.
  • He offers a money-back guarantee if customers are not satisfied with their purchase after 90 days.

Introduction to Email Marketing

In this section, the speaker introduces email marketing and shares a personal story of how a friend started selling her coffee-table book through emails.

Starting with Email Marketing

  • The speaker introduces email marketing as an effective way to reach out to potential customers.
  • Shares a personal story of how a friend started selling her coffee-table book through emails.
  • Talks about half-naked coffee-table books being sold through emails and popups.
  • Discusses quick ways to collect emails, such as using pic snippets or popups.

Turbo-Charge Your Traffic

In this section, the speaker talks about ways to increase website traffic and convert visitors into customers.

Getting More Traffic

  • Asks if viewers want more traffic and offers step-by-step guide on how to double traffic in 30 days.
  • Mentions using a turbo-dialer to collect phone numbers for mass messaging those who didn't buy but clicked "buy" button.
  • Talks about affiliate tricks for increasing traffic.

Converting Visitors into Customers

  • Explains how salespeople can use automation tools like chatbots and countdown timers during webinars to close deals effectively.
  • Advises sending follow-up texts or chats after webinars asking if viewers found the content valuable.

Chatting About Making Money Online

In this section, the speaker talks about how he has people in his chat 24/7 and how it goes against their culture. He also mentions that making money online is possible but warns against abusing it.

Making Money Online

  • The speaker explains that just because something is not indexable doesn't mean you can't make legitimate money from it.
  • He mentions that many of his friends do this and are successful, but warns against abusing it.
  • The speaker notes that some people who claim to be unhappy with their success often complain about selling too much or having to support staff.
  • He emphasizes that just because someone has made millions of dollars does not mean they are good at managing people.

Hiring the Right People

  • The speaker advises hiring the right people for SEO and digital marketing work.
  • He recommends finding cheap labor like Vovo guy who is amazing at what he does.

Infographics and Testimonials

  • The speaker talks about using infographics to get traffic and paying people pennies on the dollar for them.
  • He shows testimonials from happy customers who have used his methods to make money online.

Selling Information Products

In this section, Neil Patel talks about how he started charging more for his information products and how other people are getting amazing results. He also discusses the use of webinars as a popular way to sell information products.

Increasing Prices for Information Products

  • Neil Patel began charging more than $1,000 for his information products.
  • Other people have seen success with selling their information products at higher prices.
  • It doesn't make sense to sell an information product for only $1,000 because it's what everyone else is doing.

Webinars as a Popular Sales Method

  • Many people are getting great results from using webinars to sell their information products.
  • Pre-programmed chat can be used during webinars to help with sales.
  • Webinars are a popular way to sell information products because they allow you to give a live presentation and answer questions in real-time.

Public Speaking and Q&A

In this section, Neil Patel talks about public speaking and Q&A sessions during webinars. He also mentions the importance of emotion in driving sales.

Public Speaking During Webinars

  • Giving a live public speech during a webinar can be intimidating but effective.
  • After giving the speech, Neil Patel goes into Q&A sessions where he answers questions related to his program.

Importance of Emotion in Driving Sales

  • Using emotion such as fear can drive sales and traffic.
  • Professional actors can be used to create emotion in sales pitches.
  • Fear is a common emotion used in affiliate marketing to drive sales.

Agora Financial and Zombie Apocalypse

In this section, Neil Patel talks about Agora Financial, a company that makes over $400 million per year by selling products related to the end of the world. He also mentions how fear can be used to sell products related to survival during a zombie apocalypse.

Agora Financial

  • Agora Financial is a company that makes over $400 million per year by selling products related to the end of the world.
  • They stay in the background because they don't want people knowing who they are.

Zombie Apocalypse

  • Products related to survival during a zombie apocalypse can be sold using fear tactics.
  • Flashlights are an example of a product that can be sold using fear tactics.

Becoming an Expert in Marketing

In this section, the speaker talks about how to become an expert in marketing and shares a strategy for generating revenue.

Finding Your Niche

  • To become an expert, you need to know your niche well enough that you can teach others and provide value.
  • Find an expert who can give really good value because the last thing you want to do is sell someone something they won't be proud of.
  • It's important to find your niche then find your expert.

TurboDial Strategy

  • TurboDial generates around $400k-$500k per month by collecting phone numbers and messaging all the people who didn't buy their product.
  • They partnered with someone who sells yoga courses and health courses in Brazil, recorded webinars, scripted it, and automated it.
  • The ad costs generate more revenue than what's the conversion rate.
  • The conversion rate is 3.1%, which means they generate around $20k-$25k USD a month from that income.

Conversion Rate Strategy

In this section, the speaker discusses conversion rates and follow-up strategies.

Conversion Rates

  • The conversion rate of 3.6% per 100 registrations includes follow-up and retargeting after initial registration.

Follow-Up Strategies

  • Following up with potential customers via text message or email can help increase conversions.
  • Automated messages can be sent out after initial contact to see if the potential customer has any questions.

Selling Products and Webinars

In this section, the speaker talks about how to sell products through email and phone calls. They also discuss the effectiveness of webinars in generating sales.

Selling Through Email and Phone Calls

  • The speaker sells products through email and phone calls.
  • They use a three-point-six sales per 100 registration strategy to close deals.
  • This strategy works for almost any product or service.

Effectiveness of Webinars

  • Half of the sales come from webinars, while the other half comes from email campaigns.
  • The speaker uses Webinar Jam to start a webinar every 15 minutes on the clock.
  • Facebook advertising can be scaled up to a few hundred thousand dollars a month, but it gets tricky if you want to scale up to a million dollars in profit.
  • The show-up rate for webinars is almost 70%.

Pricing Strategies for WordPress Products

In this section, the speaker discusses pricing strategies for WordPress-related products.

Raising Prices

  • The speaker recommends bundling multiple plugins together into one master plugin that provides more value to customers.
  • You can charge more money if you provide more benefits to customers, such as traffic generation or custom designs.

Examples of WordPress Products

  • The speaker gives examples of WordPress-related products that sell for $50-$900, such as traffic generation plugins or design templates.
  • One example given is a plugin that helps with traffic generation, email collection, sales optimization, and SEO.

Outsourcing Support Staff

In this section, the speaker talks about outsourcing support staff for WordPress-related products.

Hiring Support Staff

  • The speaker outsources support staff from the Philippines and pays them well.
  • They offer a program to their support staff where they can earn an extra dollar an hour.

Realistic Testimonials

In this section, the speaker talks about the importance of using realistic testimonials to make your product more believable.

Use realistic testimonials

  • Using unrealistic testimonials can cause you to lose credibility.
  • Use real people and real stories to make your product more believable.
  • Don't try to keep all the money for yourself. Invest in your business and pay bloggers to talk about your product.
  • By doing so, you'll start noticing that you'll get a ton of downloads really fast and start shooting high up on all the apps like WordPress directories.

Spending Money to Make Money

In this section, the speaker discusses how spending money can help you make money.

Invest More

  • It's easier to save money than make money.
  • Invest more in your business by creating professional-looking themes and paying bloggers to talk about them.
  • You'll start noticing that you'll get a ton of downloads really fast and start shooting high up on all the apps like WordPress directories.

Video Content

  • There is no limit to how much money you can spend on video content.
  • The video content doesn't have to be super professionally produced, but it should have fancy titles and edgy content.
  • You can also create lo-fi videos for pure branding purposes.

Selling Anything

In this section, the speaker talks about how anything can be sold with the right marketing strategy.

Low-end Products

  • You can sell anything at any price point if you have a good marketing strategy.
  • Even low-end products like $66 e-books or courses can make millions if marketed correctly.

Tai Lopez Example

  • Tai Lopez's first low-end product was $66, but he made millions from it.
  • He created a lo-fi video of himself in his garage, talking about his Lamborghini and bookshelf full of knowledge.
  • He also made money by arbitraging products.

Q&A

  • The speaker answers questions from the audience about spending money to make money and creating video content.
  • He emphasizes the importance of investing in your business and using realistic testimonials.

Creating and Marketing Products Under $1K

In this section, the speakers discuss creating and marketing products under $1K, specifically in the fitness niche. They also talk about the importance of emotional connection in video marketing.

Charging for Fitness Products

  • The speakers discuss how to create a product that justifies a thousand-dollar price point.
  • They suggest creating a low-end product in the fitness niche for $100-$200, such as a video series or training course that teaches people how to get more ripped or jacked.
  • The speakers explain that charging $997 is reasonable because most people don't have more products.

Emotional Connection in Video Marketing

  • The speakers discuss whether phone videos can be used instead of professional quality videos. They suggest that phone videos can convert better than professional quality videos because they are more realistic and people can emotionally connect with them.
  • They mention Beachbody P90X as an example of a company that makes all their money on the back end by offering low-priced products upfront.
  • The speakers emphasize the importance of emotional connection in video marketing and how it can lead to better results.

Q&A Session

  • An audience member asks about creating enough value in a product to justify a thousand-dollar price point.
  • The speaker suggests focusing on solving problems related to follow-through and time constraints when creating fitness products.
  • Another audience member asks if emotional connection is important when selling affiliate landing pages.
  • The speaker explains that he provided amazing information on how to rank on Google during the webinar.

Creating an Educational Info Product

In this section, the speaker discusses how to create an educational info product.

Steps to Create an Educational Info Product

  • Start by creating an educational info product.
  • Provide advice and help to your audience.
  • Leave a comment below if you need any assistance.
Video description

Today, I'll teach you how to create a digital product that generates at least $100,000 a month. ►Subscribe: https://goo.gl/ScRTwc to learn more secret SEO tips. Find me on Facebook: https://www.facebook.com/neilkpatel/ Read more on my blog: https://neilpatel.com/blog The good news is, when you promote a digital product, you pretty much have something that has 100% margins. So, when you're doing advertising, you're selling something. What're your costs? Pretty much nothin', it's just the hosting, after you create the product, of course. So, let's get started. The first step, what industry should you enter? And, I'm going to go quick, because there are so many slides. I picked the digital marketing industry. Can you see what's wrong with the digital marketing industry? It was too late when I started. If I chose something like nutrition, I would'a sold so many more eBooks, so many more video courses. You see why it's so much more popular. You go to Google Trends, type in a niche, like flashlights, and you can see how popular something is. Alright, so first off, I can't emphasize this more than anything else, build something you can be proud of. It's longevity; you'll be happy when you create something that you can put your face on. You know those affiliates that are like, "Oh yeah, I don't anyone knowing this is my company." Don't build a product if you can't tell people it's your company. If you can be proud of it and put your face on it, you're good to go. Alright, so here's a few lessons I learned. A customer should be able to finish your product within three months, but not quicker than one month. When you have a digital product when they finish it before one month, what happens? Too many refunds. When it takes more than three months, what happens? They think it's too much work. You guys can all relate to that. If you tell people it's too much work, are they going to do something? No, that's why affiliates don't start their own e-commerce companies, it's very rare, and the guys who I do, look at starting e-Commerce companies. It was funny, I met one guy who was selling this anti-aging cream, and he was crushing it on Facebook. He was doing literally, over $4 million a month. He ran out of anti-aging cream. You know what he did? He went to Costco and filled up Neutrogena cream in his bottles, and I'm like, "Oh." He's like, "I gotta pay my Ferrari bills." It's sad, but it's quite funny at the same time. So, another thing I learned, videos, and audio files, and worksheets have more value than text-based documents, so pay people to create these videos and audio files for you. Then you have to figure out how much you should charge. In general, you don't want to charge less than a thousand bucks. A thousand dollars is a good starting point, because when you start charging a thousand dollars, you can end up generating quite a bit of cash from Facebook, and typically for every dollar you spend, if you stink at Facebook ads, you should be able to generate $2, so a dollar in profit. If you're good, you'll be able to do $3, for every dollar you spend, so two bucks in profit. If you're really good like I've seen a few guys, they're doing $5 in revenue for every dollar they spend, and they're doing it in quantity on Facebook, where they're spending, 20, $30,000 a day. The first thing is, is if you want people to buy from your site, you have to collect emails. I go into a lead magnet. Right here's example, Ramit Sethi, how he collects emails. I'm going to let you a little secret. Have you ever wondered how I get to a million visitors? I talk about how I use infographics, and I pay people pennies on the dollar for the infographics. And then I give you an overview of what you're going to get. $22,000, that's a lot of money for all this stuff. Would you say that's a good deal at 5,000 bucks? Thank you, everyone, for having me. So if you like this video, like, comment, share. I do appreciate it, and if I can ever do anything to help you out, genuinely, even it's giving you some advice. I don't care for the money, leave a comment below, and I will do my best to try to help you out and answer all your questions. Thank you for watching. ► If you need help growing your business check out my ad agency Neil Patel Digital https://npdigital.com/ ►Subscribe: https://goo.gl/ScRTwc to learn more secret SEO tips. ►Find me on Facebook: https://www.facebook.com/neilkpatel/ ►On Instagram: https://instagram.com/neilpatel/