Strategic Launch of Digital Products With Small, Engaged Audiences

Key Quotes

"I know that you only need 1,000 subscribers from quality organic sources to launch your first product. Making meaningful money with a small audience is very achievable, assuming you have an email audience. So, you do need to build a newsletter and build an email list to sell."

Matt argues that a substantial audience is not a prerequisite for launching a digital product. He emphasizes that 1,000 quality, organically sourced email subscribers are sufficient, highlighting that meaningful income can be generated with a smaller, engaged list. This suggests that focusing on building an email list through valuable content is more critical than amassing a large, unengaged following on other platforms.

"If the answer is less than 10 phone calls and less than 50 email and DM conversations, I guarantee you have no idea what your audience wants to buy because you haven't talked to them. You have to talk to your prospects to understand what their problems are. You can't just theorize or copy other products."

Matt explains that direct communication with the target audience is essential for identifying viable product ideas. He asserts that without engaging in a sufficient number of conversations, creators cannot accurately understand customer needs and problems. This underscores the importance of qualitative research, such as customer calls and direct messages, over theoretical assumptions or market imitation.

"If you're selling a digital product, price it between $29 to $99. If you're selling a traditional course, price it between $499 to $999. If you're selling a cohort-based course or live learning program, price it between $999 and $1,999 or $2,000."

Matt provides specific pricing guidelines for different types of digital products. He recommends price ranges for digital products, traditional courses, and cohort-based courses, suggesting these industry-standard ranges should be followed until significant sales milestones are achieved. This advice aims to simplify the pricing decision for new product creators by offering established benchmarks.

"What you don't have is product testimonials, but you can still get character testimonials. I do believe that testimonials and that stuff matters, but you don't have to have a testimonial for the product because you haven't sold it yet."

Matt addresses the common concern of lacking product-specific social proof before a launch. He suggests that creators can leverage "character testimonials" from industry peers, clients, or past employers to build credibility. This approach allows for the inclusion of social proof on landing pages even before the product has been sold and reviewed.

"You should believe in your product so strongly that you know that readers are worse off if they don't buy. But also, if this is your very first product, you may not have that type of confidence yet. What I recommend you do is you give everyone on your email list a way to opt out."

Matt advises creators to overcome the fear of being "too salesy" by genuinely believing in their product's value. He proposes a practical solution for managing sales outreach: providing an opt-out option for email subscribers who do not wish to receive promotional content. This strategy allows for effective selling while respecting audience preferences and maintaining relationship integrity.

"Your first product should be simpler and shorter than you think. I like to use what I call the 'short, narrow, small' framework when building media products. I think most products should be: Short: 2 to 12 hours to consume or less. Narrow: It should only focus on solving one problem or delivering one outcome. Small: It should be feature-light, only three to four features maximum."

Matt advocates for a minimalist approach to developing a first product, using the "short, narrow, small" framework. He defines "short" as being consumable within 2-12 hours, "narrow" as focusing on a single problem or outcome, and "small" as having a limited number of features. This framework aims to reduce complexity and development time for initial product offerings.