I want to tell you some of the changes that my team and I are making regarding our E-Commerce business. Also, tell you what we’re focusing on and why.
The reason I’m telling you this is because I’ve been in this industry for 6 years, and I’ve seen many things change. I’ve seen how the industry adapts to trends. I believe it’s important to be informed and to adapt when necessary.
The first thing that we’re doing, is that we’re going 100% digital. This means that our main focus is to sell digital products to the audiences that we’ve built, rather than physical products.
We’ve built big audiences in multiple passionate niches. Niches where people are ready to buy and where we’ve crushed physical products.
So for example, we’ve built a big audience in the residential buildings. Instead of selling old school projects, traditional consultancy and things like that, we could sell information in form of e-books, online video courses, or monthly subscriptions to a specific type of information.
This is just an example, and we’re not currently focusing on this niche. But it’s to give you an idea…
These are some of the reasons why we’re doing this:
- No product costs
- No shipping costs
- Little refunds and chargebacks
- Direct control over the product value
- Instant digital fulfillment
- Way better profit margins
- Less moving pieces (simplified model)
- A higher barrier of entry (not everyone can get in so easily)
- With the same energy, resources, skills and time we can take a much larger profit.
I’m the kind of person that likes to have control over the different operations of my business. And I believe I have a lot more control this way.
This is still an Architecture Studio. But digital.
I like to call it “The Hybrid Model”.
The cool thing is that this works for any niche.
If you’re in the dog niche, instead of selling traditional consultancy, you can now sell online projects, or online courses for training, where the product is a members area with pre-recorded videos. You can partner with an architect, and charge $49/month.
Get 1,000 members and you have a $50k/month business, 0 fulfillment or shippings.
From there you can have a high ticket backend and up-sell to personalized training for $1000 (again just an example).
The digital model is also aligned with my long term vision of the type of business that I want to build. You can later create an affiliate program for other people in the niche to promote your digital product. So you turn your digital product into a business opportunity for other people.
I could consider selling physical products as upsells or as rewards to people that purchase the digital product, but at the moment we’re just doing digital.
We’re also doing a lot of lead generation now and a couple other things.
My point with this email is to simply inform you what I’m up with and why. I know some of you guys look up to me when it comes to internet marketing in general. So I feel it’s valuable for you to know.
But I’ll be honest, I wasn’t sure if I wanted to share this because I was like…
“Aghhh sh*t, now everyone’s going to get confused about whether they should do physical or digital or other things.”
But here’s what I want to tell you…
You have to listen to other people’s recommendations but also focus on your own sh*t. You also gotta follow your gut and build the business of your dreams.
I personally believe this is the best option for me. And that’s why I’m sharing it.
If you’re making a killing selling shirts, don’t stop. But you could consider adding digital products to the mix later on.
I’m also not saying selling physical products doesn’t work, or that you have to stop. No. I’m just sharing what my focus going towards and why.
There’s a lot I could share about this topic. We started doing this at the end of 2016.
I won’t be putting together a video course or making a bunch of youtube videos because it takes a lot of time and we’re already with our hands full.
But if you’re interested to get more info just Open your Online Studio, and I’ll have someone from my team reach out to you to help you out so you can start with this model.
That’s it for this one.
Stay healthy and keep working hard.