Digital products are intangible items, either goods or services, created in a computer format, for the purpose of being sold or distributed online in unlimited number of times. These products comprise of files that can be downloaded or streamed from the website where it is made available. It can also be referred to as the monetization of your skills, such as, typing, article writing, logo designing, etc, through services provided online.
In summary, digital products are created in a computer format for the purpose of usage on computerized electronic devices, like, Desktops, PCs, Phones, etc.
Example of Digital products include:
· Online documents, such as eBooks
· Musics and Audios
· Games and Applications
· Professional services
· Digital arts and Graphics
Why You Should Create a Digital Product
There are so many reasons why you should create a digital product. One of them is its superiority over physical and tangible products, in the sense that you can just create a product once, and still be able to sell that particular product continuously over-and-over again to millions of individuals.
Therefore, I will be explaining 5 reasons why you should create Digital products:
1. Opportunity to Make More Money
As earlier mentioned, you only need to create one digital product eg. an eBook and it can be sold to millions of readers from all over the world. Your readers get instant access and pay only for the product as compared to a hardcopy that has to be shipped. They save delivery fees, you profit more!
2. Spend Lesser Time Creating It
This comes from the fact that you only have to create whatever digital product you are producing only once, and then continue selling the same product an infinite number of times. Doing this helps in saving time, as you can use the remaining time to focus on other parts of your business.
3. Provide your Service from Anywhere
Unlike physical services where you need to work from either offices, schools, libraries, studios, etc, managing the business physically by attending to customers, teaching students, shipping products, etc. Digital products allow you to work from anywhere around the world, be it from your house, hotel, and even while at the beach. All you need is access to your computer or mobile phone.
4. Lesser Expenses
Expenses like that of office rentage, fees for warehouse, shipping fees, salaries for workers, etc, that are all necessary when creating and marketing a physical product are absent when dealing with digital products, as everything is being done online.
5. No Middleman Involved
When managing physical products, you need to work with wholesalers or manufacturers who help in supplying your product to your numerous customers. Meanwhile, with digital products, you can simply create your item and sell them directly through your website. This implies you're not imparting your benefits to anybody and can keep in touch directly with your customers.
Types of Digital Product You can Create
One of the best digital products to sell online are ebooks. One category of eBooks that sell best nowadays are those involving guidelines on how to do something, as this provides readers with valuable information.
2. Online Courses
Online courses are another type of digital product to sell online. Many people believe that the only courses that make money are the ones teaching you how to make money online. But you can actually still make money with almost any specialty. You can sell an online seminar on pretty much any topic as long as you are offering some benefit and showing something valuable to your clients. Video lessons, worksheets and/or written lessons can be used to present your course.
3. Graphic Design
This involves using applications like Illustrator or Photoshop to create and design graphical elements to be sold online. Some of the tools used in graphic design include, textures, fonts, brushes, icons, illustrations, and more.
Templates can be created and sold to varieties of users, such as those designing logos, kits for media, posts on social media, resumes, etc. Social media templates from Bluchic is a very good example. These type of templates are basically designed and being used with graphic design programs, such as canva, Illustrator, Photoshop, etc.
Printables are various type of Digital products that you create in order for your customers to be able to dowload and print them for their own personal use. Some examples of these printable include: Art prints, Lesson plans, Work books, Gift tags, Planners, Letter heads, etc.
5. Stock Photos
All you require to start making stock photos is a decent camera and an excellent photo editing software. There's a trending market right now for stock photography, ranging from social media managers to entrepreneurs to bloggers where they are searching for ideal photographs to post on their sites or social media platform.
Other types of Digital products you can create are:
Swipe files, WordPress themes, Creating patterns for clothing, etc.
How to Sell Digital Products
To start with, you will require a website that belongs to you. You can either create it yourself if you have the knowledge, or simply hire a website designer to do it for you.
Next you need an e-commerce platform, and the purpose of this platform is to deliver and distribute your products to your online clients, as well as helping you to accept payments from them. One such platform is SendOwl, which is basically designed for selling digital products. Other similar platforms include Sellfy, FetchApp, FastSpring, Simple goods, Gumroad, Selz, E-junkie, etc. All you need do is simply upload your digital product files and start selling instantly!
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