Phronesis
Active member
Digital products have become a very effective tool for many businesses today. Essentially, what they do is they’re able to package up their skills or services into a variety of different ways making it easier for them to sell those skills and services to their prospective clients and ultimately increasing the revenue streams and bottom line as they do it.
What is a Digital Product?
It’s an intangible asset that can be sold again and again by a business without the worry that they’re going to run out of stock. It could be a piece of media or a tool. This digital product can be created a single time and that single product can be sold over and over or a digital product can be customized to every customer.
The main reason that an agency would want to sell digital products would be to increase the revenue streams and ultimately their bottom line. Most agencies have core services but the work that agencies do is quite labor-intensive, it’s very hands-on, and it’s very one-on-one whether that’s logo design or website design, or brand strategy this type of work is quite labor-intensive but digital products allow agencies to increase their revenue streams. It allows them to sell additional products to increase the average value per invoice of their customers and ultimately increase the bottom line.
There are many more benefits to offering digital products such as adding value; you get to add more value to your customer by offering these digital products, your core services will help them out with some very specific challenges but these digital products can help them out with additional challenges that they might have, ultimately helping them get towards their goal. If you do provide these types of services, it allows you to address those different challenges and help them to overcome those additional challenges as well and you’ll earn trust as you that. Digital products are also very lost cost; there is very little overhead in producing digital products whether you produce a digital product as a one-off or even if you customize those products as you go or if you use a template to do that it keeps the cost very low and that increases your profit margins as well. Let’s dive into the seven different digital product ideas that you can take into your agency.
1. Presentation Templates
Most businesses have a logo and most businesses do some kind of presentations whether it’s to prospective clients or business partners and what they tend to do is they tend to just grab the logo that they have available whether it’s a PNG or a JPG file and stick it on top of whatever presentation they’re putting together. They’ll grab whatever font they have had and this inconsistency does paint a bad image and whether or not they don’t think to ask the agency to put together a presentation like this or they think a job like this will be too small or they don’t want to pay whatever the reason is a lot of businesses do this. They use PowerPoint presentations or PDF presentations that don’t bring across that brand experience. If you’re able to put together a product like this and to give your prospects or your customers a tool that they can keep that brand experience consistent then that is a valuable product that you can add.
to be continued....
What is a Digital Product?
It’s an intangible asset that can be sold again and again by a business without the worry that they’re going to run out of stock. It could be a piece of media or a tool. This digital product can be created a single time and that single product can be sold over and over or a digital product can be customized to every customer.
The main reason that an agency would want to sell digital products would be to increase the revenue streams and ultimately their bottom line. Most agencies have core services but the work that agencies do is quite labor-intensive, it’s very hands-on, and it’s very one-on-one whether that’s logo design or website design, or brand strategy this type of work is quite labor-intensive but digital products allow agencies to increase their revenue streams. It allows them to sell additional products to increase the average value per invoice of their customers and ultimately increase the bottom line.
There are many more benefits to offering digital products such as adding value; you get to add more value to your customer by offering these digital products, your core services will help them out with some very specific challenges but these digital products can help them out with additional challenges that they might have, ultimately helping them get towards their goal. If you do provide these types of services, it allows you to address those different challenges and help them to overcome those additional challenges as well and you’ll earn trust as you that. Digital products are also very lost cost; there is very little overhead in producing digital products whether you produce a digital product as a one-off or even if you customize those products as you go or if you use a template to do that it keeps the cost very low and that increases your profit margins as well. Let’s dive into the seven different digital product ideas that you can take into your agency.
1. Presentation Templates
Most businesses have a logo and most businesses do some kind of presentations whether it’s to prospective clients or business partners and what they tend to do is they tend to just grab the logo that they have available whether it’s a PNG or a JPG file and stick it on top of whatever presentation they’re putting together. They’ll grab whatever font they have had and this inconsistency does paint a bad image and whether or not they don’t think to ask the agency to put together a presentation like this or they think a job like this will be too small or they don’t want to pay whatever the reason is a lot of businesses do this. They use PowerPoint presentations or PDF presentations that don’t bring across that brand experience. If you’re able to put together a product like this and to give your prospects or your customers a tool that they can keep that brand experience consistent then that is a valuable product that you can add.
to be continued....