Do you also want to earn money by selling digital products? Selling products digitally online is one of the best side hustle ideas for earning extra cash. Whether you are an aspiring entrepreneur, a freelancer, or someone who enjoys monetizing digital materials, the eCommerce world provides countless opportunities.
I left my job a year ago to be my own boss and you will be surprised to know that today I am making around $6000-10,000 every month. I have made a full-time income by selling digital products and all I ever needed was my laptop, internet connection, and determination.
However, developing a business can be quite tough when you lack digital product ideas to begin with. But, don’t worry, I will share all that I have learned through my journey. Read this blog to learn how to develop and sell products digitally. I will also discuss today’s most famous digital products and the ideal online platforms for selling them.
Let’s not waste any more time and dive into it.
What Are Digital Products?
A digital product is a product or service that is based on digital technology and exists in an intangible or non-physical form. Unlike traditional physical products, which occupy physical space and are tangible, digital or online products are developed, distributed, and consumed in an online environment.
The category of digital products encompasses a wide array of offerings, ranging from online platforms and software applications to digital services and multimedia content. These products are sold between buyers and sellers as e-files via websites and online stores.
For example, eBooks are digital forms of books that are sold in PDF format on the internet. Some other examples of these products include podcasts, templates, courses, and audiobooks.
Why Sell Digital Products?
Selling digital products offers numerous benefits over selling physical products. When I thought of starting a business, I was worried about the huge investment it would require. But then I came across digital products and got the idea of selling them. And guess what I started with no investment. As digital products don’t need physical inventory, you can sell in unlimited amounts and maximize the potential for uplifting the business.
Here are some other advantages of selling digital goods to make money online.
- Reach Global Markets: Digital goods are easily accessible worldwide, eradicating the need to open physical shops overseas.
- High Profitability: Digital goods sell at a more elevated rate than physical goods. One of the newest examples is from Arthur Trusov. He started selling digital products in 2019 on a video game platform and earned over $1 million.
- Cost-effective: You can sell digital products to minimize business operation costs, including storing, packaging, and stock replenishing.
- Easy To Adjust: If a seller wants to customize any part of the digital product, he can do it with the least effort.
- Fast Delivery: Unlike physical goods, digital products guarantee quick delivery as customers only need to install their purchases.
- No Shipping: Digital goods vendors do not have to deal with shipping. This also eradicates shipping-related dangers associated with selling physical goods.
10 Best Digital Products To Sell
There are multiple digital products you can sell but here are some of the best ones that I have tried. And trust me they are the easiest ones to sell and of course highly profitable.
- eBooks and Blogging:
eBooks are online publications that you can read on electronic devices such as tablets, phones, or computers. It is one of the best-selling digital goods, projected to reach a market value of $15.33 billion by the year 2027. I have made hundreds of dollars from ebooks every month. And there is no better way than blogging to create a passive income.
- Video Courses:
These are a crucial part of the eLearning industry. These educational video courses generally need a lot of practice. Selecting the topic, coming up with materials, and recording the video by yourself are some of the practices.
The online or video courses market is rapidly growing and is anticipated to reach $319 Billion by the year 2029.
- Membership Sites:
Membership sites offer exclusive access to services or content in exchange for paid subscriptions. They typically integrate with other eCommerce businesses, including those selling physical products, online courses, and streaming services.
- Stock Video and Photography:
There is a good demand for stock videos and photos, from website design to advertisements. If photography is your hobby, consider turning it into a profitable business. You only need editing software and a decent camera.
Many stock photo agencies and photo-selling websites typically provide contributors anywhere from a revenue share of 15-60%.
- Digital Art:
In today’s innovative market, content creators and bloggers often seek top-notch quality digital art to boost their content’s appeal. If you are also interested in working in a creative industry and are artistic, selling digital art online is a perfect idea.
A digital artist working on video games is expected to make $40k/year and up, and those creating book covers are normally paid between $500 and $3000 for each cover.
- Graphic Design Mockups and Templates:
Templates and mockups are pre-made designs that customers customize to suit their specific needs. They can be used for various purposes, ranging from cover letters and resumes to visual designs, social media posts, and posters. Freelance graphic designer rates range from $18 to $66/hour.
- Music and Audio Products:
Are you passionate about creating music? Consider selling digital products in audio form. While it requires investment in software and equipment, music can be advantageous once you attain popularity or secure a deal.
Many music tracks are sold for $1.29 on Amazon Music or Apple Music (formerly iTunes) when sold as digital downloads only. Audiobooks normally sell for $5-20 on Nook, Amazon, or Audible. However, the pricing is often based on length.
- Web Themes & Plugins:
If you are also into web development and have some ideas to simplify it, consider marketing plugins or themes. Themes change a website’s overall feel and look, while plugins allow website owners to extend the site’s functionality.
For most WordPress theme developers, the average salary range lies between $60,500 and $88,500.
- Mobile Apps and Games:
In-depth programming and coding language knowledge are crucial when creating games and apps. The game and app development process includes writing codes, designing user interfaces, and testing. The average revenue per app download differs immensely, but it is $0.60 to $1.20.
- Coaching and Consulting Services:
If you have some valuable knowledge to share and have a remote-friendly job, you can sell your services online. You can provide business consulting, life coaching, health coaching, and career coaching. According to Glassdoor, the average income of a life coach is $61,003 per year in the US.
How Can You Sell Digital Products For Online Stores?
The Internet has changed the way we do business by opening up new opportunities for entrepreneurs to sell digital products on the Internet. If you have also made up your mind to sell goods online but don’t know how to do it, you are in the right place. I will give you detailed information with some simple steps from which you can sell digital goods online. Just follow the simple steps:
- Analyze & Research
This is your time to showcase your skills and ideas. Grab a paper and pen and start writing down your ideas. Don’t overthink anything. Your first idea may be a bad one, but it will surely help you to take a successful path.
Next, doing some research will help you to find out what potential customers are searching for online. You might already have an outstanding business idea, but if you don’t have that, seeing what others are selling may help you find your niche. Below are some ideal resources to help you to begin with your research:
- Facebook Groups
- Reddit Subreddits
- Industry Forums
- Customer Surveys
- Product Reviews
- Blog Posts and Comments
- Verify Your Idea
Before selling digital products online, it is best to validate and verify your idea to determine whether it has the potential to succeed. It would be a waste of time, energy, and resources if your plan doesn’t succeed later.
Here are some effective ways to ensure your idea of digital products is set up for success:
- Google Trends: To ensure that your product idea has demand, you can use Google Trends to find topics with increasing opportunity sizes.
- Google’s Keyword Planner: Keyword tools help show how many people are really searching for terms or topics related to your product. A low search volume is a sign that your chosen product is not popular enough or is too niche. However, a high search volume is an indication that you are on the right path.
- Feedback: One of the most useful things you can do is directly contact your target customers and ask them for feedback. After all, they are the ones who will make your business fade or thrive.
- Find a Target Market
The next step is to depict your target audience. While it may seem perfect to reach everyone with your chosen product. However, the reality is that targeting everybody means you are targeting no one.
By identifying the target market, you will be able to tailor your digital products, communications, and marketing to your customers’ needs. This will ultimately offer them higher value and a more effective message.
Know your target audience and find out everything about them, from their interests to their geographies to their occupations. Becoming a professional in your niche will help you stand out from your competitors.
- Build An Online Store
After turning your idea into a substantial product, it is time to market it. One of the best ways to do it is to do it with an online store.
BigCommerce can be your best bet for hosting a top-level eCommerce website. It offers the functionality and flexibility of open SaaS, is based on low total ownership cost, and has extremely flexible APIs. It allows you to create, build, establish, and grow your business.
- Elevate and Drive Traffic
Building an online store to sell digital products is not going to guarantee success. You will also need to optimize the website to increase sales and drive traffic.
Here are a few examples of marketing strategies to help you get on your way to success:
- Search Engine Optimization (SEO): Optimize your website by adding relevant keywords, reducing page load time, and mapping out the website structure. This will let you rank higher on Google and also other search engines. It will also hopefully raise the chances of your page being found.
- Affiliate Programs: Affiliate marketing can be an effective way to increase sales and drive traffic. So, be sure to try incentivizing third-party businesses or social media influencers to advertise your digital products in exchange for a commission for every sale.
- Blogger and Influencer Outreach: Almost 49% of consumers depend on a social media influencer’s suggestions or recommendations when making an investment. So, it is evident that influencer marketing is a strategy that should not be missed. It will be beneficial to partner with bloggers and influencers with verified reputations to reach new audiences and get your content promoted.
- Provide a lead magnet: A lead magnet is a free service or product in exchange for a possible customer’s contact information, such as a phone number or an email address. Providing your product in the beginning for free not only demonstrates trust between you and the customer but also offers you the chance to retarget or upsell customers with discounts or future promotions.
Where To Sell Digital Products:
Selecting the ideal platform to sell digital products is crucial. Multiple eCommerce platforms permit sellers to sell digital goods online. However, not all platforms can cater to your particular business needs. Let us now look at some of the best eCommerce platforms for selling digital goods online:
- Online store: Your own online store is among the best platforms for selling digital products. You can sell any digital good idea from your own website, from eBooks to WordPress themes or online lessons.
- Gumroad: This platform allows creators and artists to sell digital products. Gumroad has a beginner-friendly user interface that permits users to set up an eCommerce store without any technical experience or coding.
- Easy Digital Downloads: A WordPress plugin that lets you sell downloadable products. To display and sell digital products, simply set the shortcodes the plugin develops anywhere on the website.
- Teachable: If you plan to sell coaching and courses online, Teachable is an amazing digital platform. It offers a straightforward and intuitive interface to make it more straightforward for users to navigate the website.
- MemberPress: It is a WordPress plugin for creating, managing, and tracking membership subscriptions. This plugin restricts access to particular digital files, posts, videos, pages, or other sections of your website. The exclusive content can only be seen by members.
- Digital Product Delivery: This platform is one of the best for selling digital products online. It is PCI compliant and allows you to sell digital goods like online courses or eBooks safely.
Final Line:
Selling digital products online has many benefits, including decreased business startup costs, instant delivery, and high profits. Although navigating the digital goods industry can be tricky, with careful planning and thorough research, you can easily make it work. I have mentioned each and every detail of how you can sell digital goods and have a profitable career path.
Frequently Asked Questions (FAQs):
- What are digital products examples?
Digital products include online courses, software, eBooks, virtual goods in video games, digital art, and music.
- What are the 4 categories of digital products?
Software and applications, E-learning and educational resources, Digital assets and templates, and Digital media and Entertainment.
- What is meant by digital products?
A digital product is a product or service based on digital technology that exists in an intangible or non-physical form.
- What is the best-selling digital product?
The best-selling digital products include online services, online courses, software and apps, templates, educational downloads, and many more.