Question #1: Do you have a product?
A program, a workshop, a digital course? Maybe you don’t have one yet but you’re in the process of making one, or you have an idea of what you want to create.
As you probably know, I’m a big believer in the power of online products and courses. Over the past 8 years, I have launched at least 12 different products / programs in my business and earned millions from them. And I have helped hundreds of women turn their intellectual property into digital offerings so they can move from six to seven figures.
Question #2: Does your product make you money?
If the answer is yes, does it make as much as you’d like? As you think it should? If the answer is yes, stop reading. You’re a damn rockstar. If the answer is no, keep reading.
When it comes to digital offers, here’s what I notice over and over. People think it goes like this:
But it actually goes like this:
Yes, you saw that right. Marketing and sales is 80% of success when it comes to making money off your digital product.
If that stat upsets you or makes you want to cry, you should reconsider your future as a digital entrepreneur. Because that stat doesn’t just apply to digital products. It applies to online business, period. In fact, it applies to ALL business.
It’s not easy. If it were easy, everybody would be doing it. But it’s possible. I’m living proof that it’s possible. I made $1.3M last year and I’m going to beat that this year. A significant portion of my team focuses on marketing and selling. We run webinars, we plan events, we write emails (like the one you’re reading right now), we run a free Facebook group, we do sales calls, we're launching a podcast. In fact, I specifically hire team members to focus on our sales and marketing so I can spend most of my time on delivery (though I still spend a decent amount of time in sales and marketing, too). Most businesses need 4x as many team members on sales and marketing than they do on the actual delivery of the product or program.
My point? Your sales and marketing cannot be an afterthought, it must be the first thought followed by thorough and consistent action. Otherwise the product you have created will never have anyone to be delivered to.
Here’s the thing: marketing and sales doesn’t have to feel gross or pushy.
In fact, if you really believe in your product and the value you are offering, marketing and sales should feel like a win-win. Your clients get enormous value from what you’re offering and you get revenue. Win-win. But you have to put in the time…or guess what? Nobody gets to experience the value you’re offering and you don’t make any money. It’s a lose-lose.
So, what percentage are you spending on sales and marketing? Hit me up in our free Facebook group and let me know.