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You might be feeling a little nervous about offering your first paid product. You’re probably thinking, “What if no one buys it? What if something goes wrong? Will people like what I offer?” These are all emotions we all have. But I’m here to tell you that offering your first paid product doesn’t have to be scary. Here’s the secret to doing it right and wanting people to buy from you.
The trick is to make sure your first paid service is something that really helps people in a meaningful way, and if you can do that, people will be happy to pay for it. Just focus on your customers and their needs, and don’t worry about the money or the sales part.
Let’s take an example. You’ve been blogging for a while and have accumulated knowledge in the marketing field. You’ve shared a lot of free tips and tools on your blog. And you’ve come up with an amazing marketing course that will turn a complete beginner into a Facebook ads pro in just a few weeks. It’s packed with checklists, examples, tutorials, and more. You know it will help people level up their business.
In that case, offering your course as a simple paid membership at the right price makes perfect sense. You’re providing real value and solving a problem for your audience. If you do it right, people will be happy to pay for something that will truly help them grow their business. The trick is to focus on how you can use your talents and knowledge to help others, not just sell it to make money.
Related: 5 Ways Your Business Can Benefit From Offering Free Products and Services
1. Choose the right type of product to develop
You should choose the best type of product to create based on your strengths and available time. Some options to consider are e-books, online courses, software tools, and membership communities.
For first-time entrepreneurs with limited resources, it’s usually easiest to create an e-book or short video course. Using widely available software like Microsoft Word or Google Slides, you can easily create content and format it into a professional-looking file.
Membership communities and complex software can generate long-term revenue, but the upfront costs and ongoing maintenance make them difficult for beginners. Stick to options that you can build yourself or that require minimal outside help, such as hiring a designer for layout. Simplicity is key for your first paid service.
2. Explain clear marketing benefits and outcomes
Once you have a detailed understanding of your customer’s problems, your marketing should outline clear benefits and tangible results they will get from your product. Avoid making grandiose, impersonal claims that could raise doubts.
Instead, give examples of real customers where a problem was solved and a measurable outcome was achieved, such as “50% reduction in time on repetitive tasks,” “Avoided $500 in monthly fines,” “Increased monthly sales leads by 15%,” etc. Your customer should have a very clear idea of ​​how their situation will be improved after they purchase.
Back up your claims with evidence points like case studies, screenshots, before-and-after comparisons, etc. Offer a money-back guarantee to allay any concerns about value. Clarity can help you resolve customer concerns and encourage action, converting hesitant prospects.
Related: 5 Strategies to Make the Most of Your Customer Testimonials
3. Price your products to maximize value and sales
Pricing is an area where entrepreneurs often get it wrong during their first product launch. It’s important to strike the right balance between providing great value to your customers while also making a fair profit for yourself.
Research your competitors’ pricing to understand the industry standard for similar products, but don’t just match your price: Your particular solution is unique, so your value proposition needs to be uniquely positioned as well.
Consider both one-time purchases and monthly subscription models depending on the type of product and customer ROI. To ensure flexibility, also create multiple purchasing options such as individual, bundled, or annual memberships.
Prove the value of your product with a launch discount before increasing the price once sales have proven the value. Aim for an attractive mid-price point, as customers may perceive a very low or very high priced product as low value.
4. Promote through social media and paid advertising
Having the perfect product is not enough. You need promotion to build awareness and attract buyers. Social media platforms and paid advertising are valuable ways to promote efficiently within a limited budget. Try an all-in-one solution that helps you manage your marketing, payment processing, and customer loyalty programs.
Next, you need to create high-quality, short content to post regularly to relevant LinkedIn, Facebook, and Instagram groups and profiles. Videos, infographics, and blog posts that add educational or entertainment value will get organic reach and shares.
Google Ads and Facebook/Instagram Ads are extremely useful for precisely targeting potential customers based on interests, behavior, location, and other demographics. Set a daily budget and allow the platform to make competitive bids for clicks and leads.
Tracking pixel data throughout the purchase funnel is key. Monitor stats to improve creative, copy and targeting over time to improve ROI. Promotion is half the secret. It’s important to allocate at least 20% of your launch budget here.
Related: Don’t waste your money — How to tell if a product is priced too low (and what to do about it)
5. Provide a great post-sales customer experience
Once a customer makes a purchase, your work isn’t over. It’s just beginning. Customers will judge you based on their overall experience, not just the initial sale. Focus on providing them the best experience possible even after the purchase.
By following the steps above — focusing on real value, keeping the purchase simple, and testing carefully at first — you’ll be in the best position to succeed with your first paid service. People will see that you have their real needs in mind and are a trustworthy, safe option. And when you put the customer first in this way, the money tends to follow.