‘Truly life-changing!’ Man explains how he made £11,169 in just three days
Express.co.uk spoke exclusively with Ken Okoroafor, founder of The Humble Penny, on how he was able to make over £11,000 in just three days selling digital products, specifically an ebook. An ebook is a book publication made available in digital form on an electronic device. He wanted to share the practical steps he had taken, as well as the mindset he used to be able to make this type of income in a short period of time.
Before creating a digital product, people need to understand what people may want or what they need to know to ensure it sells.
He was able to discover the demand by asking his Instagram followers. People need to do their own research before creating a product.
He said: “If you are someone who would love to create a digital product the first thing you need to do is assess some interest and create a waiting list for those people who are genuinely interested.
“One of the key secrets to creating a digital product that really sells is that the product has to have value that is multiple times more than the price that it is being sold at.
“We sold our ebook for £29 but the real value is 10 times more than that.”
Another way to generate more income with digital products is to try and increase the average cart value on one’s website.
For example, if someone was selling notebooks on Amazon, the same seller may offer pencils which would be complimentary to the notebooks which encourage people to spend more.
He said: “My average order value was £32, but the product I created was £29 so more people were buying more than just the digital product I created.
They were anticipation, urgency, and scarcity. Anticipation helps create a buzz for one’s product, for instance, emailing out the title of the book one week, and then a sample paragraph the week after and asking for feedback.
He said: “The beauty of the internet is that we can create the product together.”
Urgency can be created using real deadlines. Ken was able to use personal deadlines for each person on his waiting list depending on when they joined the waiting list. This would give them a certain time to buy the product, e.g three days.
Lastly, Ken created scarcity by selling his ebook with a bonus item for a number of days. This way, people would think the offer could soon disappear and will be more likely to buy the product while the offer is still available.
He said: “Make sure the product is good quality, something that will truly add value to people. This will help create an infinite loop of your product selling on auto pilot.
“Making £11,169 in three days was truly life changing. If you truly want to apply these principles, I can guarantee they add value and they are worthwhile.”
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