A digital product is one that you sell online. It can be a ebook, digital graphics or an online course.
Let’s take a look at the value of an online course to a business.
For an established training business, the launch of an online course might cannibalize in-person training revenue.
To evaluate the value of the online course, you want to measure the revenue and margin generated from it. But that’s not all.
You need more information in order to develop a viable strategy.
What effects does the online course have on your in-person training portfolio? What trends are you seeing?
Are there any differences in the characteristics of the online and in-person course participants? How about the fee structure? What kinds of expenses do you incur to support the online course?
The more you understand the effects of the online course, you are more informed in developing a sound strategy for moving forward.
You need to look at the complete picture and determine the net incremental value the digital product contributes to the bottom-line.