This transcript was generated from the episode audio and may contain minor errors.
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How can you increase the perceived value of a digital product? I like this question, comes to us from a listener in Wisconsin, he is selling digital products and wants to know how to make them feel more valuable and appealing to his customers. And why might that be a good idea? Well, because then he could sell more of them or he could sell them for a higher price. So ultimately value is all about perception.
Whenever you're buying something, the value is, you know, what's that phrase about how beauty is in the eye of the beholder, value is the same way. So you want to do whatever you can to get your potential buyers to be like, oh, this is a really valuable thing. And it's selling at either an affordable price or an attractive price or the price matches the value. And so if you want to sell at a higher price or have a higher conversion rate, you want to increase the perceived value. Digital products are a little bit harder in this way, at least harder to position as premium compared to physical goods, but there's still some creative things you can do to enhance presentation.
So let's talk about it and give you a couple of tips, quick, effective strategies to increase the value, at least the perceived value of digital products and make them stand out. That's today's episode, Wesley's question and my answer coming right up. [Music]
Hi, this is Wesley from Madison, Wisconsin. I sell digital products and I've noticed that it's harder to make them feel premium compared to physical products. What are some creative ways I can package and present them to increase their perceived value and make them more appealing to customers?
I'd love some ideas that can help boost sales and make my digital items stand out. [Music]
Okay, Wesley, you were correct. Digital products can sometimes feel less tangible than physical goods. So that just means you need to have the right approach. You can definitely make them feel high value and premium.
Couple of things to do, create a professional branded experience. So presentation is everything when it comes to perceived value. Beautiful cover design. Even though it's a digital product, create a really nice cover or packaging mockup. This is just gonna be an image to be clear.
Tools like Canva can help you do that. Of course, you could also pay someone on Fiverr to do this for you. But just making sure your product feels cohesive and polished by using consistent branding throughout. So you got the fonts and colors to the layout. Everything should reflect that professionalism and style and any kind of mockups you can do are good.
So for an ebook, you can use a 3D mockup of a book cover. For an online course, you could use a laptop or a tablet displaying your content. That's kind of an old school technique, but it works. Next, bundle products for extra value. So create bundles to make customers feel like they're getting more for their money.
Bonus materials, checklists, templates, any kind of exclusive content to enhance your offering. I think it's good to not go overboard. Like you want to keep the main thing the main thing and not add like 27 different bonuses. That kind of devalues the main thing. But the right bonus materials can definitely make a difference.
And wherever you can incorporate video or audio components, then that's gonna be helpful as well. Multimedia can boost the perceived value of digital products. So could be a video tutorial or a demo. It could be a walkthrough. Could be an audio version of the written content.
Whatever it is, that definitely, as I said, it can increase the perceived value. Personalized elements, perhaps, customizable templates or personalized support or coaching. That also can dramatically increase perceived value. And then last but not least, testimonials or case studies, which we talked about just a few days ago. How do you gather testimonials?
Well, gather those testimonials and put them on your website. Make it really, really obvious. Focus on the solution to a problem. That definitely increases perceived value as well. So a few different options there.
It's something you need to consider, be strategic about, but it can make a big difference. So I encourage you to consider it. Listeners, if you have a question, a comment, an experience, sidehustleschool.com. Much more is coming up. A new episode every day.
As you know, seven days a week, always free. My name's Chris Guillebeau. This is "Side Hustle School." [Music]
From the "Onward Project."
