We consume digital products every day from music to videos, ebooks, and online courses.
Digital products are a cost-effective way to generate income for your business. They are intangible goods that you can easily launch and distribute. What's more, once you create a digital product, you can sell them repeatedly to different customers.
But what kind of digital products can you sell? What are the best platforms to sell digital products?
Read on as we look at some of the best digital products online as well as platforms you can promote and sell them.
Selling digital products comes with many benefits. One of the most obvious is convenience. When selling physical goods, you have to deal with many processes including sourcing, packing, shipping, and distribution. However, with digital products, you can successfully avoid these processes.
Not only are digital products less complicated to sell but they are also less costly. With no recurring cost of goods, warehouse maintenance costs, shipping costs, and other costs you can have higher profit margins.
Also, you won’t have to make heavy investments or incur high overhead costs. Ultimately, digital products require lower investments than physical goods. They are also easy to distribute as they are sold electronically.
We know that selling digital products comes with lots of benefits. However, knowing the kind of digital products to sell and on what platforms to promote them will ultimately help you increase sales and online business revenue. Let’s look at some of the best digital products that you can sell online:
eBooks are one of the most popular forms of digital products. The great thing about eBooks is that you don’t need to be a professional author to create one. You can simply put your knowledge about a skill or topic in a few pages and create an eBook that you can sell to as many people as possible.
We see lots of tutorial videos on various subjects on different platforms like YouTube all over the internet. Online courses are a type of digital product you can sell to generate income. If you have expert knowledge in a certain field, you can create tutorials and lessons on the subject and sell them on an e-learning platform.
If you love photography and are skilled in taking good photographs, you can consider selling your work to make a profit. There is a need for high-quality images as many businesses set up their ecommerce stores. You can create your online photography store and sell your work or put them up on stock photo websites like Unsplash and Pexels.
Another tremendous digital product you can sell online is templates. You can create templates or tools that help people carry out their tasks more effectively. You can easily customize and sell them to your clients or sell them on other websites. Some templates you can create include resumes, cover letters, PowerPoint slides, digital strategy templates, spreadsheets, infographics, and so on.
Music and audio are powerful digital products you can sell. Music and Audio can be a medium to entertain, motivate, inform or inspire people. You can monetize your music talents by putting up your songs for sale. You can also create podcasts, sound effects, music samples, or audiobooks and put them up for sale.
The Global business software market came at a whopping $429.59 billion in 2021 and is expected to grow annually by 11.7% from 2022 to 2030. With this massive market comes many opportunities. Small and large businesses and individuals need various software to speed up daily tasks. If you are skilled in coding or product development, you can create apps that solve a problem and sell it to generate income. Some products you can sell include mobile apps, fitness apps, WordPress plugins, and so on.
The gaming industry is also expanding. Though time-consuming, you can create your own game. Platforms like Steam allow developers to sell their products directly to gamers.
Selling your digital products individually is great. But what if you could sell it with a better approach? You can bundle your digital products and sell them as a paid subscription to generate income for your business.
For example, if you are a blogger, you start a membership site where users have to pay to access exclusive content. You can do this for your podcasts, webinar, or any type of content. What's great about memberships is that you can grow an online community that consistently subscribes to your content.
When it comes to selling digital products, just like selling physical goods, where you sell your product matters. When choosing a platform to sell your digital product, consider factors like what you sell and your budget. Here are some of the best platforms to sell digital products online:
Amazon is one of the largest marketplaces in the world and was originally designed for physical products. Selling on Amazon is profitable for many business owners and retailers as the platform has a large customer base.
Amazon first adjusted to selling ebooks through their publishing platform, Kindle Direct Publishing (KDP). With Amazon holding 68% of the eBook market, eBooks are a high-demand product to sell on Amazon. If you are selling ebooks, you can publish them using the Kindle Direct Publishing platform(KDP) and increase sales on Amazon.
With millions of Etsy users worldwide, this platform is a go-to for vintage sellers and craftspeople.
It is also a great platform to sell digital products. If you are creating eBooks or online courses on craftsmanship or DIYs, Etsy could be the best platform to promote and sell them. However, you need to be mindful of your visuals as this can impact the sales of your digital product.
For digital products like audio or videos, Etsy does not provide robust features that can effectively promote your product.
Shopify has fast become a popular ecommerce site. However, people are not just selling physical products.
With their Digital Downloads plugin, you can put up digital products on your Shopify store. Customers can download the product immediately and get a download link right in their inbox. You can sell digital products like music, eBooks, templates, and guides.
Online course marketplaces like Udemy provide a wide range of online courses for students. You can sell your courses on these online course platforms to create awareness and make sales.
Udemy requires no fee to host your course. This means you can publish as many courses as you like. However, the platform will take a portion of your income for driving visitors to your course. Other online course marketplaces you can sell your courses include Skillshare, Thinkfic, and Teachable
Apart from the above platforms, you can create your own custom digital store and sell a wide range of digital products.
Just like physical products, to be successful at selling digital products, you need to invest your time and resources in promoting them.
Selling on popular marketplaces like Amazon won't guarantee automatic success. To generate large traffic and increase sales, you need to promote your digital products. You can leverage social media platforms like Instagram and Facebook to attract an audience for your product. You can run social media ads or invest in email marketing to drive traffic to your digital store. You can also leverage social media influencers to help you promote your digital product.
From lesser costs and investments to ease of set-up and quick deliveries, numerous benefits come with selling digital products. In today's world of ecommerce and technological advancement, there are many digital products you can start selling today. You can also check out our article on how you can sell digital products on Amazon.