Why Building a Digital Product is a Smart Move
So in case you missed it, we now have our planning permission!!!
And that means I need to get on and start to earn that extra money.
To that end, I have started to produce a brand-new product, and I have set myself a deadline of March 1st to launch.
Why build a digital product?
There is huge demand!
From apps to ebooks, courses to graphics, the demand is growing. According to Expert Market Research .com;
The global digital marketing market size reached a value of nearly USD 363.05 billion in 2023. The market is further expected to grow at a CAGR of 13.1% between 2024 and 2032 to reach a value of around USD 1099.33 billion by 2032. The future growth prospects of the digital marketing market are projected to be high due to the rising population of people consuming and creating content through digital channels.
Unlimited Market Reach:
Digital products transcend geographical barriers, allowing you to reach a global audience, any time of the day or night,
Cost-Effective:
Compared to physical products the costs are next to nothing, the investment, mostly, is time and effort.
What are you doing?
I used AI to generate the logo for my product.
What do you think?
“OK”, I hear you say, “What’s this big idea of yours?”
I am glad you asked.
I am creating a CHATGPT prompt generator, aimed specifically at creating prompts that generate product launch copy!
In other words, my product will help other content creators create the sales page content, the promotional emails, and the other items they will need when launching a digital product.
And here is a nice little twist…
I am currently creating training videos to show how to use the prompt generator, and as an example, I am using the launch of my new product as the example.
So I am generating all the sales content, using the tool I will be selling, how neat is that!
Progress To Date
Let me tell you where I am at.
My earlier products were created from scratch, but this one is different.
I saw a prompt generator that promoted local businesses.
So for example, if you were to fill in the details of a beauty salon, it will produce the prompts needed to produce marketing and promotional copy for the salon.
I could see the potential to tweak a few parameters, and have the tool generate prompts specific to a product launch
I purchased whitelabel rights, allowing me to change the content slightly and sell it as my own. The original author has been really helpful.
So now I am generating prompts, tweaking the commands and customising the training and marketing materials to meet my needs.
I am hoping that, despite the unique challenges of building and launching a digital product, that this launch might make the first significant step towards raising the 40 thousand I need, but time will tell.
Have you built, or ever thought about building your own product, if so let me know in the comments below.
I am in awe of where you are and what you are doing. I can see I have a lot to learn from movers and shakers loke you. What fantastic concept? Where did you acquire the skills to great this digital product? Congratulations on achieving your planning permission!
Like many things, it was a case of needs must. I bought a product, good product by terrible documentation. I joined the product facebook page where people were asking questions on how to do this or that, and I posted a couple of videos in response to those questions to help out. Of of the blue the company contacted me and asked me to create a set of Boot Camp videos of its users, and paid me well for the task. so I then had to learn quickly how to create courses. I then decided I wanted to do this for myself and so I Joined John Thornhill´s Partnership To Success product creator course, and that was where I picked up post of my knowledge. If you want to know more, check out John´s webinar »»» here «««
Tony, firstly, many congratulations on getting all the paperwork done and the permissions you need for the build. That’s great news. Your innovation, talent and assertiveness is amazing and you continually amaze me with all these clever things that you do. You’re very talented and creating your own product and such an innovative one too. If you need anyone to test them or you want to pass anything by me I’m happy to help. I wish you all the best with your digital product and I look forward to how it goes. Well done. Atif
Congratulations on your idea! I look forward to seeing your progress as an avid ChatGPT user for my business. Keep up the great work Tony!
Thanks Martin, I use CHATGPT in my day job quite a bit. I found it took quite a bit of time to get the hang of crafting the prompts to give more of what I want, and of course the content still needs to be editied, but it has saved me hours and hours.
Tony,
Congratulation on creating your tool. I have used a tool that does exactly what you mentioned. It is called GERU. You might want to check it out.
I know it has to be an exciting time to see something you have been working on come to life. I have launch a number of software creations for my 25+ years in I.T. and each time it still gets me excited to see a user working with something I created.
Let me know when it’s launched, I would love to demo it.
CJ
Hi, thanks for the comment, Yes GERU is a good tool, particularly when it comes to mapping out your funnel, my tool is significantly different and does not provide the same functionality. My tool produces highly effective prompts to generate copy, that would go into the pages in your funnel, and other sales and promotional materials
I am aware of GERU but not used it.
All the best
Tony
Hi. You’re on fire Tony, another project and I look forward to following hoe its going. I did create a free training program last year for people starting a window blind retail business and buying from us BEFORE I really know what I was doing but people are getting value from it.
Excellent….. I can see that being popular here, we have a number of different blind systems, including security blinds, and a lot of building, so a good market.
Wow Tony, there is a huge potential for your launch. Both digital product creation and AI are hot rising trends. By combining two hot trends, it can be a winner. You might even exceed your 40k goal in this one launch.
I hope you will share more about how you’re building your audience for the launch, how you’re going to get JVs and more in your future posts. All the best!
Hi Alan
Who knows! Your question about launch goes right to the heart of the matter…. recruiting JV,s. Its a challenge. You don’t want hundreds of poor quality affiliates (it lowers the product score) but you dont want to be too tight that there is no one promoting it.
I will certainly share the process in the blog when I get to that part.
This sounds like a very interesting product, with a huge amount of potential. I’ll be interested to see your progress.
I’ve been messing around with AI a little, enough to know it’s helpful – and I’ve been looking for tools that automate many of the tasks I currently have to do all by myself.
Yes… the main advantage I find with AI is that it gets me past the blank page stage and gives me something I can work with.
Wow, Tony! You’re making inspiring progress. I admire your get-up-and-go. I mean that sincerely. I have trouble believing in myself, but you are rearing and ready to go! I really like your logo, too. Using a thought bubble to promote an AI generator is an excellent idea!
Thanks for the feedback….I wish I could claim the credit for the speech bubble…but that was down to chatgpt!
Tony Wow you are on fire 🔥 Congratulations! on it all including receiving your planning permission!
Your progress is rapid and I have no doubt whatsoever that you will reach the amount of $40k you need to complete your house in time…in fact, I believe you will well surpass that amount given all that you are doing and are busy creating!
I look forward to seeing it all come to life, to your launch and will continue to follow your blog and read your posts
https://karenelissabeth.com/hello-2024/
Thanks….the planning permission is a big relief. Thanks also for the encouragement..
Wow! I am so impressed, your logo looks great, and creating a CHATGPT prompt generator, is no easy feat. The progress you are making is inspirational and look forward to following you on your journey!
Thanks for the feedback on the logo and for the encouragement
Purchasing whitelabel rights seems like a great idea…especially if such a product is not being exploited en masse. And creating training videos is an equally bright move.
I have never really thought about building my own product but I HAVE considered riding the AI coattails of platforms such as Facebook and Google. One such idea was to setup special business coupons to go out to Facebook users during the week around their birthday.
Kudos on this first significant step on raising the 40K you are short!
Hi Robert, would love to hear more about your Business tokens idea, what would the tokens be for?
Thanks for the encouragement, stay tuned to find out how it all goes
Congratulations with the planning permission. One more step towards your dream!
The progress you are making is incredible, and I can’t wait to see it all in action.
The logo is eye catching and friendly, I love the colours in it.
I’m looking forward to the launch and will be using your product myself. The training videos will be so useful and a really good idea. I’m looking forward to using them.
Your journey is genuinely an enjoyable read
Thanks so much for the encouragement and I am pleased you like the logo