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Arek, a little can go a long way. In Q2, I more than doubled my digital product revenue by adding only 2 products. In this newsletter I'm going to share with you: ✅ What made this work ✅ A mistakes I made ✅ How you can do this too Why I only needed 2 products to double my revenue in Q2: Simple. The MAIN reason why this worked was because the 2 new products where priced over 5X higher than my average listing price. Typical Product Pricing = $12 New Product Pricing = $65 That one change increased my average price per order. Q1 average order price: $12.84
Q2 average order price: $22.28
Bonus: this was a brand new offer for me, so in addition to the products being more expensive it also brought in a new pool of shoppers that may not have found me otherwise. Those 2 listings brought in 27 orders, and 12 of them included other older listings from my shop. Mistakes I made:I got so excited about how well these 2 products were working out that I broke my own rule of "doubling down on what's working" and rushed to create another one in a new aesthetic I never tested before. It's been live for about a month and I've made zero sales. Here's what I missed: the ones that did sell were built on aesthetics already winning on my lower-priced products. This one wasn't. I should have tested that aesthetic on a smaller, easier product first. If I had:
Moral of the story?Make more expensive stuff = make more money... well as long as there is demand. So do your market research or do what I always suggest, double down on what's already working! How can this work for YOU: Look at what's already selling the best in your shop. What aesthetic, topic, etc and start to brainstorm: 1️⃣ Is there a premium version you can make of this thing? Example: My thank you card template that turned into a thank you card creative kit. (demand was proven with a product validation survey first). |