Do you want to make cash online using your skills, talent, or creativity? Selling digital products is easy and extremely profitable. That is the main reason why smart creatives and entrepreneurs globally are creating and selling them. In this article, you’ll find a wide range of information, from what a digital product is and how to create it to the best digital products and where you can sell them. Keep reading to discover more.
What is a digital product?
A digital product is a media piece or an intangible asset you can sell and distribute repeatedly online without replenishing inventory. In most cases, digital products are available in the form of streamable or downloadable digital files, including plug-ins, videos, PDFs, templates, and MP3s.
Consumers can only access these products through their digital devices, including laptops, desktops, smartphones, and tablets. A few digital products can be converted into tangible goods – for example, digital art and eBooks – which can be printed.
How to create a digital product
Do you want to learn how to create your first digital product? Here is a detailed step-by-step guide for identifying and creating a digital product idea for yourself.
Identify a problem you can solve
First things first – identify an opportunity you can provide or a problem you can solve. People buy a product or subscribe to a service to benefit or solve a certain problem. Overall, they want to improve their lives.
Carry out market research
You need to research and determine whether your solution, service, or product has a high demand. Research to find your potential consumers and see whether there’s a ready market for your products. Utilize social media pages, groups, and other ideal platforms to access your target market and potential consumers.
Select the best platform and validate your product
Choose the best platform to host and sell your digital product. Understand where you’ll market and sell your digital product, how you’ll gather and collect customer data, and how you’ll collect your money. Start small, improve, and iterate as your business grows.
Advantages of selling digital products
You’ll enjoy the following benefits once you start selling digital products.
- Lower costs: Apart from the initial and marketing costs, digital products have no other expenses. That means they are a perfect way for people to earn passive income.
- Rapid delivery: Since digital products can only be delivered via downloads, consumers can access them instantly. While rapid delivery boosts a business reputation, it increases consumer satisfaction.
- Adaptable supply: Since consumers of digital products can download them as they like, there is no need to worry about inventory deficits or surpluses.
- No storage issues: Compared to their physical counterparts, digital products don’t require any tangible storage space. And the best part is that you can store them anywhere, anytime. That eliminates the need for transportation and physical storage.
- High demand for digital products: As digital transformation advances, there’re more users who would like to purchase and consume your digital products as long as they solve their problems or benefit them.
Best digital products to sell in 2023
When creating digital products, you need to explore bestselling ones, including the following.
Educational digital products
Currently, most learners prefer watching videos to reading books and other publications. As a result, online courses are perfect for in-depth content learning. Educational digital products require some initial effort, from creating presentations to recording videos.
Always start with learner outcomes, including what you need them to know or do at the end of the course. Include interactive activities, knowledge checks, and quizzes to make your digital courses more engaging and to break up your learning content.
Services
Online services are also part of the digital products. They tend to pair perfectly with different digital product types since they’re primarily their opposite. With digital services, your inventory is restricted to the working hours you can accommodate.
As a trainer, you can provide a workout plan, while a designer, on the other hand, delivers logos. Depending on your digital product, you can position specific services as packages encompassing valuable digital products.
Art or music
If you’re an artist or musician, you’ve already explored different ways to monetize your talent. Filmmakers can sell their shows or movies online, while cartoonists can convert their art into print-on-demand products, phone wallpapers, and many other printables. You can sell the ringtones of your best and most popular songs if you’re a musician.
Where to sell digital products
Apart from your own website, numerous platforms allow creative individuals to sell their music, art, educational materials, and other useful content. While selling digital products on your online store or website is the best strategy, you’ll not access as many customers as other popular e-commerce platforms. With that in mind, here are the most popular platforms that offer opportunities to sell your digital products.
Selling digital products on Etsy
If you create unique digital products, Etsy should be your final e-commerce platform. Etsy is a perfect place to sell tools for designers, custom digital designs, and templates.
Selling digital products on Amazon
Amazon is a go-to e-commerce platform for talented authors who want to sell their eBooks via Kindle Direct Publishing. It’s also home to authors who are looking to self-publish their work through KDP. Amazon isn’t just an e-commerce platform for authors but also for music creators.
The platform allows music creators to upload their songs via the TuneCore application and make them available through Google Play, Spotify, iTunes, Amazon, and many other popular stores. Amazon also has the Amazon Merch application that allows image creators to upload their images and have their designs show up on printed t-shirts.
Selling digital products on Shopify
Shopify offers many features that digital product creators can enjoy. It allows its users to integrate numerous marketing tools into their websites, do business and earn money.
Depending on the digital product you create and offer, you can use any of these Shopify applications: Digital Downloads, Single Music, SendOwl, Courses App, Shopify Sky Pilot, and Shopify Fetch App.
Set up your company with Workhy
Are you a digital product creator and want to establish a company, market your products or expand to a new market? Workhy should be your final destination. We provide company formation services in the UK, the US, and the EU. Regardless of where you come from, Workhy will help you set up your company online without residing or traveling to the country where you want to expand your business to. Additional services Workhy offers include opening online bank accounts, tax filing, online bookkeeping, tax ID number applications, and more. Visit our website to set up your company with Workhy now.
