E148: How Digital Products Can Bolster Your Ecommerce BusinessMay 24, 2018 in Ecom-Crew-Podcast
Many of us starting on the ecommerce entrepreneur route debate between selling two types of products: physical or digital.
It’s relatively easy to demonstrate the value of a physical product, and it tends to evoke the feeling that you’re running a real business. Physical products however require higher overhead, as you need ample amounts of inventory and money on shipping operations to keep the business running. On the other hand, digital products require almost no overhead and creating them doesn’t tie up any money. On the downside, digital products are far more difficult to create and creation is very time-consuming.
Between these two, what would be best for someone who wants to foray into ecommerce? Our answer – Both.
In this episode Dave and I talk about how a combination of both physical and digital products is excellent for ecommerce businesses. We use Tactical.com and Coloring Club case studies to demonstrate this. In particular, we talk about the following:
- How Dave’s entrepreneurial journey started with digital products
- How Pat Flynn of Smart Passive Income inspired Dave to integrate digital products into his physical products business
- The challenges of selling digital products
- Types of digital products that are good complements to physical products
- The secret to creating home-run digital products
- Getting the help of experts and influencers to establish authority
- Tips and tricks for those who want to sell digital products
This episode is a great way for us to officially announce our new membership plan called EcomCrew Premium.
Over the past few months we’ve been releasing courses with individual pricing and we plan to keep on releasing new ones in the future, and selling content on a by-course basis has proven to be difficult and unscalable. We’ve been giving course discounts to those who bought our previous courses, and keeping track of who gets X amount of discount has become a bit of a headache. That has led to a decision to scrap the by-course pricing model and use a subscription model instead.
With EcomCrew Premium you get access to ALL of our courses for a very cheap monthly price. Aside from that, you also get access to exclusive monthly webinars, monthly Q&A’s, templates and swipe files. And of course, there’s the private email coaching with both Mike and Dave so you can reach out to them anytime you hit a roadblock.
Thanks for listening! Until next week, happy selling.
Michael started his first business when he was 18 and is a serial entrepreneur. He got his start in the online world way back in 2004 as an affiliate marketer. From there he grew as an SEO expert and has transitioned into ecommerce, running several sites that bring in a total of 7-figures of revenue each year.