‘Truly life-changing!’ Man explains how he made £11,169 in just three days

Passive income: Expert on making money when you're not working

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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.

By sharing his knowledge, he hopes to inspire others to start their passive income journey, as it has been such a valuable tool for him and his family.

A digital product is any product that is sold online that doesn’t have physical form or substance.

People can turn digital products into physical products. For example, many people buy ebooks in PDF format, then print them on their computers. The product becomes physical, but it started out in digital format.

Ken created an ebook priced at £29. It was a step-by-step guide which helps people create passive income.

“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.

“We created a complimentary lower ticket product for £7 that someone could find useful when they buy the digital product.

”Once you created the wants you never have to repeat the creation. That’s the beauty of selling digital products.

“There are certain practical steps you need to take, providing you have the right tools to do it in order to make this a reality.

“We had a total of 348 orders for the ebook, but over 400 order as people were buying additional items.”

Another thing that helped Ken create his digital product were mental triggers. He employed three mental triggers that helped initiate a type of action from his buyers.

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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