Entrepreneur
Now you may be feeling a bit nervous about offering your very first paid product. You’re thinking, “What if no one buys it? What if I mess something up? Will people think my product is any good?” I promise those are all normal feelings to have. But I’m here to tell you that offering that first paid thing does not have to be scary. There is a secret to doing it right and having people want to buy from you.
The secret is making sure your first paid offering truly helps people in a meaningful way. If it does that, then people will be willing to pay. You just need to focus on the customer and their needs — don’t be worried about the money or sales part.
Let me give you an example. Say you’ve been blogging for a while and have built up your knowledge in the marketing area. You’ve shared lots of free tips and tools on your blog. Now you’ve come up with this awesome marketing course that will take someone from total beginner to Facebook advertising pro in just a few weeks. You’ve packed it with checklists, examples, tutorials and more. You know this would help people level up their businesses.
In that case, putting the course behind a simple paywall at a fair price makes total sense. You’re providing genuine value and solving a problem for your audience. As long as it’s done right, people will gladly pay for something that can truly help their business grow. The secret is focusing on how you can use your talents and knowledge to assist others — not just jumping to sell for the sake of making money.
Related: 5 Ways Your Business Stands to Benefit From Offering a Free Product or Service
1. Choose the right type of product to develop
You will need to select the best type of product to create based on your strengths and available time. Some options to consider are an eBook, online course, software tool or membership community.
For a first-time entrepreneur with limited resources, an eBook or short video course is generally the easiest to produce. You can use widely available software like Microsoft Word or Google Slides to easily author the content and format it into a professional-looking file.
While a membership community or complex software may generate more long-term income, the upfront costs and ongoing maintenance make these more difficult for a beginner. Stick with options you can create on your own or with minimal outside help like hiring a designer for layouts. Simplicity is key for your first paid offering.
2. Outline clear benefits and results in marketing
Once you know the customer problems intimately, outline the clear benefits and specific results they will gain from your product when marketing it. Avoid lofty and impersonal claims that may seem questionable.
Instead, state real customer examples of issues resolved and measurable outcomes achieved, such as “reduce time on repetitive tasks by 50%,” “avoid $500/month in penalties” or “increase sales leads by 15% per month.” Customers need to envision very clearly how their situation will improve after a purchase.
Back up claims with proof points like case studies, screenshots and before/after comparisons. Provide a money-back guarantee to alleviate any reservation about the value. With clarity, you will convert hesitant prospects by alleviating concerns and pushing customers to take action.
Related: 5 Strategies for Getting the Most Out of a Customer Testimonial
3. Price the product for maximum value and sales
Pricing is an area entrepreneurs often miss the mark on for their first product launch. It’s crucial to strike the right balance of offering good customer value while earning a fair profit yourself.
Research competitors’ pricing to understand industry standards for similar offerings. However, don’t just match prices — your specific solution is unique, so your value proposition should demand unique positioning, too.
Consider both one-time purchase and monthly subscription models depending on the product type and ROI for customers. Create multiple purchase options like individual, bundle and annual memberships for flexibility, too.
Test with a launch discount to prove your product’s worth before raising prices once sales substantiate the value. Customers may perceive lesser value in very low or very high ticket products, so aim for an appealing mid-tier range.
4. Leverage social media and paid ads to promote
Merely having a perfect product ready is not enough — you need promotion to gain awareness and attract buyers. Social media platforms and paid advertising provide invaluable ways to efficiently promote on a budget — try using an all-in-one solution that can help with marketing, payments processing and managing customer loyalty programs.
Now you need to create high-quality, bite-sized content to post regularly on relevant LinkedIn, Facebook and Instagram groups and profiles. Value-packed videos, infographics and blog posts that educate or entertain will gain organic reach and shares.
Google Ads and Facebook/Instagram ads can extremely help in precisely targeting potential customers by interest, behavior, location and other demographics. Set a daily budget and let the platform bid competitively for clicks and leads.
Tracking pixel data through purchase funnels is key. Monitor stats to improve creatives, copy and targeting over time for better ROI. Promotion is half the secret — dedicating at least 20% of the launch budget here is essential.
Related: Don’t Leave Money on the Table — How to Find Out If You’re Underpricing Your Products (and What to Do About It)
5. Deliver exceptional customer experience post-sale
Once people purchase, the work isn’t over — it’s just begun. Customers will judge you based on their entire experience, not just the initial sale. Focus on delivering the best possible experience after purchase, too.
By following the steps above — focusing on real value, making purchasing simple and testing carefully at first — you put yourself in the best position to succeed with that first paid offering. People will see you have their genuine needs in mind and that you’re a safe choice they can trust. And when you put customers first like that, the money side tends to follow along on its own accord.
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