My 3-step process on how you can start a digital product business in 2024

I run a $300k/year faceless digital product business selling $27 products.

And I started it with a digital product made in Canva.

The best part?

I started it with less than $150.

Here’s my 3-step process on how you can start a digital product business in 2024.

Now, if you don’t have a low ticket offer for your online business, whether you have a…

- coaching business

- services-based business

- consulting business

- online course business

…this could probably be the most costly mistake in 2024

You might be wondering why?

Because in 2024 and onwards, the market shifts.

It shifts from high-ticket/high-pressure sales to low-ticket, low-pressure sales.

The reason for that?

Well, some of you have probably already experienced:

- Your cost per acquisition increases month by month.

- Your cost per call booked has doubled or even tripled.

- You get fewer calls booked and more resistance on calls.

And that’s just the beginning.

So why creating a low ticket offer can be the next great “thing” for your business?

By having a low ticket offer, you:

- build trust with your audience/customers by helping them dip their toe in what you’re doing

- profit from every customer you acquire in your business

- establish yourself as an authority in your space through paid products (paid products > free content/products)

- liquidating your advertising costs while acquiring a customer and profiting from your backend services and products

And you can achieve all of that without:

- having huge teams of designers, copywriters, or media buyers

- launching a never-seen-before the idea

- having a marketing budget of thousands of dollars

- having testimonials or results

Here’s a simple yet practical step-by-step process on how you can do that:

Step #1: Create Your Irresistible Offer

The first step of the process is to create your irresistible offer.

How do you do that?

Well, there are a couple of ways to do that, and in today’s post, we’ll cover one of them.

- Cross-Idea Formula

The cross-idea formula is exactly what I used to create a new irresistible offer, generating $17,900 in sales in my second month.

Here’s how it works…

The first thing is market research.

The same old school market research where you search for various high-performing low-ticket offer ideas.

But instead of simply looking for any ideas, we’d be looking for “smart” low-ticket offers.

“Smart” low ticket offers are products that are designed in a way to save your customers time, money, and thinking.

To make the process much more easier for you, here are a few places you can look into:

- Etsy

- Creative Market

- Facebook Ads Library

- Google Ads Transparency

- Foreplay

And since I love going the extra mile, here are 5 “smart” offer ideas you could start with:

- Templates

- Swipe Files

- Calendars

- Bundles

- PDF Reports

Now, once you have identified a “smart” offer idea, then start looking at other popular niches that you’re interested in, such as:

- Digital Marketing

- Copywriting

- E-mail Marketing

- Funnel Building

- E-commerce

And see if anybody has taken this idea and applied it to these niches.

Now, let’s think about it: templates, swipe files, and calendars are “smart” and popular ideas.

And we have niches like Email Marketing, Funnel-Building, and Copywriting, which are also popular.

So, guess what we can do?

We can cross-idea these two things together to create something new.

Doing, this helped me leverage market data to create a faceless, viral digital product.

Step #2: Create Your Sales & Delivery Infrastructure

Now, the second step in the process is creating your sales and delivery infrastructure.

For the sales infrastructure, many people use different things, from Online Stores and shops to Sales Funnels.

But me personally, after a couple of years of testing and trying various infrastructures…

I figured out funnels to be the most effective one.

So, how do I use funnels?

I use a simple yet effective structure:

- Sales Page

- Checkout Page

- Upsell Page

- Downsell Page

- Thank you Page

For that, we’ll need a tech stack.

I know there are a lot of options, but I like to keep things simple:

- I use ClickFunnels for Funnel Building - $97/month

- Canva for Graphic Design / Mockup Work - $12/month

- ChatGPT for Copywriting - $20/month

- ActiveCampaign for Email Marketing - $29/month

I try to keep my tech stack costs between $150-$250/month.

And more importantly, practical.

For the delivery infrastructure, I usually use ClickFunnels in combination with Activecampaign.

Step #3: Chose Your Advertising Strategy

Now, many entrepreneurs don’t get themselves into promoting their products or services because of the fear of losing (whether it’s time or money).

Secondly, is because of the conditioned mindset of needing to have a huge budget or a lot of time to make it work.

The truth is, I’ve started my $300k/year one-person digital product business with only $20/day in ad spend.

That’s $140 in ads spent in my very first week.

And the key to success?

Is keeping this as simple as possible.

So here’s what I recommend for simplicity:

- Create 1 Campaign using the Sales Objective

- Create 1 Ad Set (with broad or interest targeting)

- Create 3 Ads (with various creatives or ad copy)

- Set the budget to $20 - $25/day

And..leave it for at least 72 hours before making any changes or adjustments.

Now into the good stuff.

How was I able to scale it up from $20/day to over $1000/day?

By taking calculated risks and knowing your numbers.

You see, after I spent the first $214.14, I generated over $395+ in revenue.

By knowing the 1.84 ROAS, I was more comfortable with increasing my ad spend every few days knowing for every $1 in ad spend, I get $1.84 back.

Therefore, if you’re not at a point where you invest $1 and get at least $1.5 back, you should reevaluate your offer, copy, or funnels.

And with all that being said, these are the 3 step process of starting a digital product business in 2024.

Lastly, always seek help, advice, or support.

Even one comment, advice or opinion from someone who’s done what you’re trying to do, will shift your entire experience in a more positive way.