Digital products cannot be savored, tasted, or touched; however, everybody consumes them, from songs to videos, ebooks, to online courses.
Because of their popularity and ease of distribution, entrepreneurs create entire companies around these products or services or develop digital product lines that enhance the physical products or services they provide.
What makes them appealing is that they can be made once and sold again to customers of different kinds without needing to replenish your stock.
Table of Contents
- 1 What Is a Digital Product?
- 2 How to Sell Digital Products for Online Stores
- 3 6 most profitable digital products in 2022
- 4 Best platforms to sell digital products
- 5 7 Tips for Marketing Digital Products Effectively
What Is a Digital Product?
Digital products are anything you sell online which doesn’t have a physical shape or form. It’s impossible to hold a website template in your hands, smell an electronic book, or taste a software program -the only thing you can do is eat it. Uber food does have a similar taste, but it’s not quite as good).
Digital products can be transformed into physical goods. In this case, many purchase ebooks in PDF format, after which they print them on their personal computers. The book becomes tangible; however, it began in an electronic format.
A few online entrepreneurs try to cut corners. They design poorly-constructed digital products and believe they can earn a living by selling these.
Most of the time, the entrepreneurs do not succeed because retention of customers is more important than acquisition.
That’s why the goal of an entrepreneur selling digital goods is to make additional products and convince your existing customers to purchase these products. This is the way to make true wealth feasible.
How to Sell Digital Products for Online Stores
Maybe you have an idea that’s been brewing for some time. If not, we understand it can be overwhelming to think of the ideal business concept. So, to assist you in establishing the steps to landing the ideal digital product idea and launching your online business.
1. Brainstorming and research.
This is the time to get your creativity flowing. So get a pen in your hand and note every idea for a digital product you’ve got both good and bad.
Do not overthink it. Even if your initial idea may not be the best, It will get you on the right path and could lead to a eureka moment.
What do you love to do? If you could give a TED Talk, what would you talk about? If you already run an enterprise and you are a digital business, what digital services might be able to complement your current physical offerings? Do you have specific problems that you can address with your customer?
These are just a few suggestions to get you started moving and help guide you in the correct direction.
You’ll need to research and determine what prospective buyers are looking for online. You might already have an excellent business plan; however, knowing what other businesses are selling can assist you in finding your area of expertise. Here are some great sources to help you start your research:
- Reddit subreddits.
- Facebook Groups.
- Review of the product.
- Customer surveys.
- Forums for the industry.
- Comments and Blog Posts.
2. Check your idea.
Before you begin creating and selling an item, verifying your concept and ensuring it is viable is important. It’s not a good idea to put your time and effort into a business plan and then discover later that it was designed to not succeed.
Here are some suggestions to make sure that your concept for a digital item is set to be successful:
- Google’s Keyword Planner: Keyword tools can tell the number of people actively looking for subjects or phrases related to your item. If you see a low number of searches, it indicates that your product is too specific or not well-known enough. But if there’s an abundance of searches, it could signify that your business is definitely on the right path.
- Google Trends: To ensure demand for your product idea, use Google Trends to find subjects with increasing potential size.
- Feedback Maybe one of the most beneficial things you could do is to reach directly to your audience of choice and solicit honest feedback. In the end, they’re the ones that are likely to determine whether your company will succeed or disappear.
3. Choose a target market.
Now is the time to determine your ideal audience.
Although targeting all people using products might be tempting, the truth is that aiming at everyone means that you are not targeting anyone. Defining your market will allow you to tailor your digital products and your marketing and communications to your client’s requirements. This will offer them greater quality and a more engaging message.
Focus on your market and learn the entire information you can including their locations, their passions to their work. Making yourself proficient in your field can give you an edge and stand apart from your competitors.
4. Create your online store.
When you’ve made your idea into a tangible item, you’re now ready to take it out there – One of the most effective ways to do that is through an online shop.
We’ll get more specific in the following section, but to make a long story quick: BigCommerce is your best option for hosting a high-quality online store. With the versatility and flexibility of an open SaaS, BigCommerce is built on the low cost of ownership and highly adaptable APIs that allow users to create, develop and expand their business.
5. Increase and drive traffic.
But simply launching an online store isn’t a guarantee of the success you’re looking for. You’ll have to improve your site’s performance to attract more customers and increase sales.
Here are a few examples of marketing strategies that will help you get on the right track:
- SEO : Optimize your website by using relevant keywords, reducing loading speed, and defining your site’s structure. This can help you be more prominent with Google and other engines and increase the chance of your site being discovered.
- Influencers Marketing: Considering that 49% of people rely on recommendations from influencers when they make purchases, influencer marketing is a strategy that should not be missed. Work with influencers and bloggers with a solid reputation to help your content be promoted and reach a new audience.
- Affiliates Programs: Affiliate marketing can effectively increase sales and traffic by enticing third-party influencers or businesses to advertise your digital products for a percentage of every sale.
6 most profitable digital products in 2022
A study conducted by Software.org reveals that software added over $1.14 trillion in total U.S. Value-added GDP and employs 2.9 million people. As the software industry grows and expands, we’ll see how it affects the U.S. economy and the production of new software solutions.
It is important to remember that software is any product or service operated by code. If you are able to find the right people to program your product, The possibilities of developing products that include desktop applications, web-based apps, mobile apps, desktop software, and templates are endless.
The advent of new devices such as eReaders or smartphones has exploded demands for eBooks. Readers no longer have to carry heavy physically-bound copies of their favorite books and can access an electronic version directly on their smart devices.
The increasing popularity of ebooks also provides an opportunity for both established and new authors.
3. Audio Files and Music Production Software
Audio has always been an effective way to convey messages. However, with the increasing demand of customers to watch videos, we insist more on the role audio tracks can bring to tell stories and relay information.
A few examples of audio files and audio software that are currently offered on the internet are:
- Reusable sound effects and Adlibs
- Music samples
- Lectures recorded
- DJ Software
Both veteran and novice developers have the opportunity to market their games directly to potential buyers. Traditionally, developers publish their games on marketplaces or collaborate with publishing companies to have their games in retail stores. One disadvantage of this model of distribution is that intermediaries (marketplace and publishing studios) a number of games’ sales. Selling directly on your online website can protect your margins, allowing your customers to hold more of your earnings in your own pocket.
Similar to ebooks, digital imagery is among the first digital assets available via the internet. As of 2012, Shutterstock granted licenses to more than 70 million images, vectors, and other digital imagery. The widespread use of images in blog and web design ensures that there will always be a need for premium, high-quality images.
The video seems to be the most popular topic you can speak about at the moment. It’s easy to understand the reason. Thanks to technological advances, even smartphones can take videos that we can broadcast to the world. Another advantage when selling your videos is videos can have an even higher level of engagement than text alone could. This makes it much easier for users to navigate through the information since all they have to do is press play.
Best platforms to sell digital products
Sellfy is ideal for those looking for an easy but effective platform for selling digital goods.
It’s not just Sellfy simple to set up. However, you can also sell physical and digital items. A print-on-demand feature lets you sell items like hoodies, shirts, hats, and cups. It prints products when orders are received and then delivers them out to your customers. It’s not even necessary to move a finger.
However, if you want to sell digital goods, you can provide all kinds of digital content, from books to songs. You can also sell videos on demand. Customers can stream content on your site for a cost. There’s no chance of pirates because Sellfy has the infrastructure to stop that.
Best platform for big eCommerce stores
Shopify has expanded its capabilities to include eCommerce, social commerce, and easy shopping options using the simple click-to-buy button. Shopify is the market leader in modern eCommerce and allows its clients to build eCommerce stores that sell digital and physical products. The most appealing thing is that you can test the platform’s full power when signing up for a free trial and observing the results for yourself. A wide selection of themes and styles (with the option of full customization) and a list of free and paid plugins allow you to create an online store similar to the operations that Amazon and Newegg offer to sell products.
BigCommerce is, in our opinion, a complete e-commerce platform. It can be used to sell digital items or physical items.
The great thing about this one-stop solution is that it includes everything you require to begin selling digital goods online. It allows you to design websites with stunning designs. In addition, it comes with integration capabilities which means you can utilize third-party applications to add additional features to your eCommerce site.
Podia is an online platform that allows you to sell digital goods such as online classes, webinars, memberships, and downloads. In a way, Podia is a full-service online store. You can build a website that allows you to sell digital products. It supports email and affiliate marketing. Additionally, you can include a live chat widget in order to attract potential customers.
Best platform for digital creators selling via social media.
Gumroad bridges the gap that exists between the product and a client. Gumroad is among the most well-known digital selling platforms due to its simplicity, history of security, and its ease of use. Upload your books, albums, games, movies, online courses, and much more to the Gumroad servers, then decide on a price and let it take place effortlessly. Gumroad is embeddable. Gumroad widget makes it simple to incorporate Gumroad on your website and gives you peace of mind about how you market and sell your digital goods.
7 Tips for Marketing Digital Products Effectively
Digital products can be difficult to locate. Many companies “hide” their digital products by putting them in menus for footers or concealing the products behind names that do not define what they are or why customers should purchase them. When you market digital products, it’s crucial to emphasize their existence and give an argument compelling to explain why your customers require them. Even if someone on your website can see your digital product does not mean they are aware of the reason; they need it.
A lower price doesn’t always translate to greater sales.It’s easy to offer your digital goods at a bargain. In most cases, you’ll be able to earn a profit. Spend some time to examine what you’re offering and the value for your customers. Remember that sometimes the more you’re charging, the more unimportant your product will be seen by the public.
It is essential to have a landing page and sales page. Although most physical items work perfectly by having their own pages for their products, Digital products usually thrive in the “funnel” environment, meaning that you need an online landing page and a sales page to make sales. Since your product is not tangible and not tangible, you must earn respect from the client much more than you would with physical items, and that is the reason your content and information on each of these pages comes in.
Don’t undervalue the power of bonuses. Since digital products don’t incur costs, it’s simple to incorporate bonuses to entice customers to buy. Combining these bonuses could make your digital item seem appealing to customers, which is precisely what you’re looking for. Finding the best bonuses to entice your customers’ attention will require trial and experience, so don’t be afraid to try various options until you have the right combination.
Utilize the power of influencers. Digital products are able to thrive with the assistance of influencers. This is why creating online profiles to advertise your product should be among your top priorities in marketing. The more influential individuals were discussing your digital products as they become respected, and of course, the greater visitors to your site will be attracted. Engaging influencers with your digital products requires constant effort to create momentum. Don’t think of it as something that can be a “one-and-done” task.
Concentrate on creating comments and reviews. Every product benefits from good critiques, yet digital ones require them even more. To gain confidence from a prospective client, you must make sure that you and your product are genuine. Reviews on Google and testimonials on your site will directly help convince your customers and give them the proof of social standing they require to be converted.