I have gathered a short list of digital products you can create and start selling online. Start making money with profitable digital products.
Make money online by creating and selling digital products Online
I have shared 8 online business ideas that can make you rich and I said blogging is highly recommended.
However, selling digital products is by far the most attractive online business of all time.
In today's tutorial, I'm going to guide you through the process of understanding digital products and how to make money by selling your product online.
Did you know you can make money online using the creativity and skills you already have?
If you consider yourself an expert on a particular topic, digital products are a great way to package that information and sell it to others who want to learn.
Smart entrepreneurs and creatives all over the world are developing digital products. You too can start doing this, today!
I have gathered a short list of digital products you can create and start selling online.
What is a Digital Product?
First, what is a product? A product is any "Physical" object or item that you can sell to someone else in exchange for cash.
It is something you can pick up, see, smell, hear, or even taste.
Also read, 100+ fast selling and lucrative physical products you can sell online in Nigeria
Now, what is digital product? It is a product that doesn’t have "Physical" form or substance.
Digital products can’t be held, tasted, or touched, but everyone consumes them, from music to videos, ebooks to online courses, and more.
Most digital products are either entertainment (such as music or a storybook) or educational (such as a course or instructional ebook).
Your customers get their product delivered directly to their email.
You might also like to read: How to make money with YouTube
10 Types of profitable digital products.
If you have something to share, you can turn it into a digital product to sell.
You can share your knowledge, talents, opinions, or passion, and potentially make some money along the way.
As I have said earlier, most digital products are educational (teaching people how to do something) or entertainment.
What you want to sell should be something you are passionate about.
Here are the 10 most common and profitable digital products:
- eBook
- Online Course
- Premium Video
- Podcast
- Newsletter
- Audio & music
- Photography
- Graphics & digital art
- Professional services
- Documents.
Although, some of these digital products are free on the internet, but many people are still willing to pay for them if what your offer is significantly higher quality.
To be candid with you, It is not easy to develop digital products that are top quality in order to compete in the market.
It’s time-consuming, and you need the appropriate skills and tools for it.
How to Create a Quality Digital Product
So now that you have seen the 10 most popular and profitable digital products, here is a step-by-step guide to get started with one.
1. Brainstorm Ideas.
The first step is to brainstorm ideas for the type of content you want to create and sell.
Brainstorm what kinds of skills you have. You will be surprised to find out that many people are more than happy to pay to learn your skills.
Here are just a few examples of skills;
Do you have a writing skill? If your answer is yes! Then you can start publishing digital books (ebooks)
Can you teach a course? If yes! Then think about creating online video course.
Do you have passion for creating music? Then you should consider selling some of your work.
Do you consider yourself creative and enjoy working on visual design or creative drawing? If yes, selling digital art and design might be a good idea.
Are you into website development? you can sell web themes, templates or website plugins.
Are you into photography? consider turning your hobby into a profitable digital business.
The product you will create most be something you have a unique experience in.
You should also decide about the format. Should your digital product be text, video or audio?
This would depend on what works best for your audience but also what you are comfortable with.
2. Customer research.
If you don’t understand your customer, it will be very difficult to sell your product online.
This is why customer research is perhaps the most important part of the entire process.
Make research to create more targeted marketing strategies, for example:
If you have decided to create a weight loss video course. It will be too large if you target everyone who want to lose weight.
And if your target is too large, you will likely not sell very well.
Instead of that, you can make more research to target women who recently had babies and need some motivation to get back into shape.
Perhaps these women used to work out and are finding the transition difficult.
The more you target, the more likely you start out and convert your digital products into cash.
3. Price Point
The next step is to consider your pricing point now that you already have a rough idea of the product and your customers.
Note that, a $10 eBook or online course will require much less work than $100 Newsletter or $1,000 Course.
Some products may not have a market for high price point. For example:
A lot of people would be happy to pay $1,000 for an SEO course. But there is no market for $1,000 swing dancing course.
So, start by doing competitor research, check to see if there are any competitors selling a digital product similar to the one you have in mind?
If so, what is the price point? Also note that the price point does vary based on:
- How quality the content of your product
- How you present your product
- And additional bonuses (community, Q&A, etc.).
Because you see a course for $100 doesn't mean you can't see a similar course for $2,000.
Some people are willing to pay for higher-priced products because they believe they have more value than low priced products.
5 Platforms to Sell your Digital Products
There are a variety of ecommerce platforms for you to sell your videos, ebooks, software, and other digital goods.
Here is a list of platforms to sell digital products.
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| Sellfy |
You can embed Sellfy “buy now” buttons, product widgets, or an entire store on your website or on your social media with a simple link.
It has incredible features like automated email marketing, product upsells and discount codes, analytics to track buyers and sales, Zapier and Facebook Live integration, and more.
2. PayLoadz
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| PayLoadz |
3. DPD (Digital Product Delivery)
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| DPD (Digital Product Delivery) |
All sales are paid directly to your merchant account or payment provider, including PayPal, Stripe, and Authorize.Net
4. SentOwl.
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| SentOwl |
SendOwl accepts credit cards, PayPal, Apple Pay, and even bitcoin.
5. FastSpring
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| FastSpring |
FastSpring is a full-service ecommerce platform to sell digital downloads and subscriptions.
FastSpring integrates with WordPress, AdRoll, Google Analytics, Impact (affiliate marketing). Offer worldwide shoppers multiple payment methods, currencies, and languages.
Advantags of Selling Digital Products.
Digital products has a lot of benefits and advantages that makes it uniquely attractive to entrepreneurs:
1. Digital Products Last Forever.
Unlike physical products, digital products are not subject to wear, tear, or deterioration.
Although, Digital products may become less relevant or outdated over time as technology changes.
But they can be updated, upgraded, and improved.
2. Lower Overhead Costs.
No manufacturing, no storage and warehousing, no packing and fulfillment.
No shipping expenses and material, no rent or commercial real estate loans.
No electricity, no natural gas, no air conditioning and/or furnace (HVAC).
3. Never out of stock.
This is why I love digital products. You can sell as many copies of your digital products as you want.
Visitors to your products never have to see the words "out of stock".
4. The Internet is a Large Market.
Selling digital products online gives you the ability to reach audience around the world.
Unlike physical products, it gives less access to a global market. You will be limited by your location and region.
5. Easy to manage, sell, and deliver.
Managing your digital products is far easier than dealing with physical products.
You don't need a warehouse, manage supply chain logistics or deal with shipping.
All you need is a digital storage and a website or marketplace to keep things organized.
Your digital product storage is always live and serving your goods to customers 24/7.
Disadvantages of Digital Products.
online digital products also come with specific challenges you will need to watch out for.
1. You’re competing with free content.
Talking about digital products, consumers can probably search for free alternatives to what you’re selling.
You must think carefully about the niche you target, the types of digital products you sell, and your product descriptions.
You must offer high-quality products and know how to build your brand in order to compete.
2. You are susceptible to piracy and theft.
To reduce the risk of internet piracy and theft. You'll need to employ the right tools to protect your products.
3. Restrictions on how to sell your digital products.
According to Facebook and Instagram commerce policy, you can only sell physical products through their sales channel.
However, if you employ the right tools when designing your digital product. You can overcome most of these challenges.
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