What should I do if my first passive income product doesn’t sell?
First of all, take a deep breath. This is a common hurdle, and while it may feel like a setback, it's actually an essential step in your journey. Remember, every successful creator has faced failures before tasting success. Here’s a practical, step-by-step approach you can take, using some of the principles from my framework:
- Capture Feedback:
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Reach out to your audience or your potential customers. If they didn't buy your product, try to understand why. Was it the product itself, the pricing, the marketing, or some other factor? Consider using surveys or personal reach-outs to capture genuine feedback.
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Develop and Adapt:
- Once you’ve gathered feedback, use it to refine your product. This might mean tweaking the features, adjusting the value proposition, or even pivoting entirely to better align with what your audience wants.
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Don’t overlook examining your marketing strategy. Was your message clear and compelling? Did you reach the right audience? Sometimes, the product isn't the problem—it's how it's presented.
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Expose Strategically:
- Re-launch your product strategically after making the necessary adjustments. Consider doing a smaller, controlled launch to test out changes with a segment of your audience before going full-scale.
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Utilize different channels or methods to expose your updated product. If you exclusively tried selling through your email list, maybe an online community or a webinar could attract different interest.
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Reflect and Redefine:
- Reflect on this experience and redefine what success looks like for you at this point. Maybe it’s not about hitting a big sale number initially but rather about refining a process or building stronger community connections.
Here’s a little anecdote: When I first launched a digital product, I expected sales to roll in overnight. But guess what? Crickets. I realized that I hadn't aligned the product with my audience's needs. It took quite a bit of humility and some honest conversations to get back on track, but it paid off in learning and long-term engagement.
Remember, the essence of the journey lies in persistence and learning. Keep going, and adjust as you need. You’re still in the game, and this experience will make your next product stronger.