Welcome to this week’s session of our Friday jam session. It’s always one of the highlights of my week when I get to hang out with some incredible people and answer some good questions related to helping them grow their businesses.
Today we are going to be talking about the best way to sell your digital product by utilizing ads. I've had several people ask me this question in the past few weeks. Today I am going to answer the question on our coffee talk and walk you through the best practices.
If you want to join us live next time and get your own questions answered, head over to takeactioncrew.com. Once you've signed up, you'll have access to all our past coffee talks and can even search for specific categories that you're looking for guidance on.
How to Grow Your Buyer List
Let's start with an example. Let's say you have an eBook that sells for $9.99, which is a good price, by the way. You can actually sell them up to $19.99, but this is a good price to start with. I find that eBooks are a great way to acquire a customer and, from there, offer them higher ticketed items and more content that will provide them with value. The goal is to get them as a buyer and go from there.
The way I look at it is that you want a starting point to get someone to raise their hand and become a buyer. There is more value in a buyers list than there is with a prospect list. However, you do want to have both a prospect and customer list, but the customer list will be more valuable.
A good conversation rate is between 2-5% for Facebook ads. If you're running paid traffic, you need to have a way to offer them additional resources in the future, or it will be challenging to make that work long-term. You need to find a way to offset the cost of the ads as quickly as possible.
Anytime you're running paid traffic, you need to create a free lead magnet that will drive traffic to paid products on the backend. The lead magnet gives someone results quickly and allows you to follow up and retreat them in the future.
The Power of a Thank You Page
If you have a digital product, it's essential to utilize the thank you page. Once someone signs up for the free download or guide, they should be taken to a thank you page that promotes a paid product.
You'll include a special one-time offer for that particular product to encourage them to make a purchase. It doesn't have to be complicated, just providing them with something related to the lead magnet that they may have an interest in buying.
The best part is even if a person doesn't purchase directly from the thank you page, you can send them emails with the specific offer later on. It's a subtle offer, and you should get some people to purchase if you've correctly validated your audience.
For example, we use our Brand Creators checklist as a free lead magnet. When someone signs up for the checklist, they will opt-in for the checklist. From there, they receive an offer for the playbook, and then we'll send our subscribers other products that we've set up on the backend. This allows us to spend more money on ads and reach more people because we're bringing in revenue to offset the cost of the ads.
If you have a digital product, ask yourself what a person would need to know before purchasing that product. It's a simple win that would immediately help them, provide value, and gain their trust. From there, you can promote your paid digital product. You should be working in stages to avoid being overwhelmed and to continue making progress.
Friday Jam Session Q&A
Q: Should we pay more than $5 per day for Facebook ads?
A: When you're starting a business and are trying to figure out a marketing plan, you need some type of budget in order to see results quicker. I recommend writing content at the same time.
At the start, you'll usually lose some money, but you'll be learning in the process, which is extremely valuable. You can start running ads for as little as $5 per day, and I recommend starting small at first. Once you start making profits, you'll want to increase your Facebook ad budget, especially once you can see that it's working.
Q: When do you know it's beneficial to drive traffic to a free eBook or a paid digital product?
A: If you are starting from scratch and don't know who your target market yet is, a lead magnet is a good way to start. I would drive traffic to it to see how many people raise their hands. After that, I would create the digital product on the back end. If you're just starting out, try to get your lead magnet up, and you can go from there. There is no reason to wait.
Quick tip: If you're building content for your website, you can actually pull content you've written and turn it into a lead magnet. We do this quite often for our brands, and it's an easy way for us to provide value and get something up and ready to go.
Q: How many sales do you include for each product?
A: To start, you need to have a product. I wouldn't focus on order bumps until you have your lead magnet created and have a good conversation rate.
Q: What are the most common mistakes people make when running Facebook ads?
A: I think the biggest mistake is not targeting correctly. I also think that boosting posts are considered the lazy way to advertise on Facebook and isn't as effective. Using targeted Facebook ads will get you much better results in the long run.
Q: What are some common reasons lead magnets don't convert well?
A: The most common issue is creating a lead magnet that your market doesn't want or if you have the targeting wrong. It's important to make sure that you have the right targeting before you create a new lead magnet. You might just not be reaching the right people.
Q: How far out do you plan content?
A: We plan out at least a month in advance. We also have a big batch of content ideas and keywords to use to avoid more work in the future.
Q: Is it worth making money using affiliate links?
A: The holiday season is quickly approaching. A quick tip is to create a blog post with gift ideas related to your niche. You would lead people to that page on Amazon and be able to get a commission off of whatever they purchased within the next 24 hours, even if it's not something that you sell.
During the holidays, people are making a lot of purchases, especially on Amazon, so you may want to consider taking advantage of that and making some extra money in the process!
Q: How do you stay committed to something long term?
A: Whenever you're doing something, you want to make sure that you can commit to it and stick with it. For me, I wouldn't be able to commit to doing a blog post every day. However, I can easily show up three times a week. Just make sure that you can commit and make it easier for yourself.
The same goes for posting content. Make a schedule for yourself and stick with it. You can even set up a calendar invite, so you have no excuse not to do it.
This was a fun session. If you haven't joined us yet, head over to takeactioncrew.com. We'd love to have you. It's free, by the way, and a great way for me to deliver high-quality content. We have a new feature where you can search a specific topic and find all the coffee talks where we talked about that specific topic, so go check it out!
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“Remember, I'm here for you, I believe in you, and I'm rooting for you! Now it's time for you to take action and go rock your brand”!
Take-Aways From Today’s Episode
- How to Grow Your Buyer List (4:00)
- The Power of a Thank You Page (9:35)
- Friday Jam Session Q&A (19:28)
- “There is more value in a buyers list than there is with a prospect list”.
- Take Action Crew: https://takeactioncrew.com
- Coffee Talk: https://brandcreators.com/coffee
- Playbook: https://brandcreatorsbook.com
- Checklist: https://brandcreators.com/checklist
- Brand Creators Event: Grab Your BAL Recording HERE
- Email List Workshop – https://learn.brandcreators.com/email-workshop-sales-page