What Are Digital Products?

Have you heard the latest eCommerce buzz and now wonder, “What are digital products?” In today’s online selling world, people are looking for more and more options of products to sell online. With millions of online sellers, you need something different to stand out. Many sellers are also looking for something that offers a low-cost entry into eCommerce. This is where digital products come in. Entrepreneurs, content creators and online sellers are increasingly turning towards digital products as a way to generate income. But what are digital products, and how can you start selling them? Join us as we take a look at the variety of digital products and how to get started making money online with them!

You may have heard of the term digital products, as they are now widely available on many eCommerce platforms. But it can sometimes be hard to figure out exactly what the term means. Let’s break it down.

A digital product is anything that exists in digital format. So, unlike physical goods, digital products are intangible and can only be delivered electronically. Some examples of digital products include.

Online courses
E-Books
Digital Art
Music
Software
Virtual Event
Worksheets

The allure of digital products comes from their versatility and ability to provide passive income. Once they have been created, they can be sold again and again, without the need for inventory or shipping.

Why Choose Digital Products Over Physical Products?

There are many reasons why online sellers prefer digital products over physical products. In fact, many eCommerce sellers have been ditching their physical products and turning more to digital products over the past few years.

One of the main reasons digital products are tempting for online sellers is their low overhead costs. With digital products, there are no storage costs. Since they are not physical items, they eliminate the need for a place to store them. They also don’t have any production costs, and there are no shipping costs. All of these reasons make digital products much more cost-effective for entrepreneurs trying to make money online.

Another reason digital products can be more attractive to entrepreneurs is their scalability. Digital products are made once, but an unlimited number of them can be sold, so you never have to worry about running out of stock!

For eCommerce sellers, one of the pain points can be shipping. Getting products out in a quoted timeframe can cause headaches, and relying on the delivery service or postal service can come with many frustrations. Sellers are often blamed for a missing package that was due to negligence from the delivery service. Selling digital products wipes out all of these worries. Digital products are delivered instantly, and customers can instantly access their purchases, enhancing the overall buying experience.

Global reach is another reason why digital products are sometimes a preferred choice for online sellers over physical products. Digital products can be sold and accessed from anywhere in the world. With physical products, sellers need to be aware of worldwide shipping practices and what items may not be able to be shipped to certain countries. With digital products, there is no need to worry as they can go worldwide instantly.

How to Create Digital Products

Now that we have discussed why digital products can be a lucrative route in eCommerce let’s look at how to create them. Creating digital products involves several steps. From ideation to execution, the steps can be easy and straightforward or detailed and more involved, depending on the product. The following is a step-by-step guide to get you started.

1. Identify Your Niche and Audience

Before creating a digital product, it is vital to research your target audience and understand their needs. Start by conducting product research and identifying any market gaps to determine the type of digital product you can provide to provide value or solve a problem.

2. Choose Your Digital Product Type

After extensive research, you can base your digital product on filling a need. This is where you can decide what type of product you want to provide. This is where you decide whether an online course, e-book, or digital artwork is the best product for your brand. Also, remember to make sure it aligns with your expertise and interests.

3. Develop Your Content

Once you have decided on your digital product, you will want to take the time to develop your content. Just because it is a digital product doesn’t mean it shouldn’t be the highest quality product you can deliver. It should meet the needs of your audience and provide what they paid for. For an e-book, developing your content will mean writing and editing the text, while for an online course, it may be recording video lessons and creating supplementary materials.

4. Design and Format

Part of delivering high-quality content is thinking about the design and format of the product. You will want to make sure that your digital product is professionally formatted and visually appealing. Use design software like Canva and Adobe Creative Cloud to create eye catching layouts and graphics.

5. Protect Your Intellectual Property

After putting a lot of work into your digital products, you will want to ensure they are protected properly. Consider protecting them with trademarks or copyrights to prevent unauthorized use and distribution. It can be a wise idea to consult with a professional who can help guide you in protecting your work the proper way.

How to Sell Digital Products Online

Once your digital product has been designed, it is time to sell it! But before diving straight in, there are a few strategies to consider. First, you will want to select the right online store for your products. From Shopify to WooCommerce, many options offer user-friendly interfaces to showcase your digital products.

You don’t need to stick to one online store. By leveraging various marketplaces, you can increase your likelihood of sales. Just be sure to stick to established marketplaces like Etsy or Amazon Kindle Direct Publishing. These platforms have a big customer base, which can increase your chances of making sales.

Once your digital product is uploaded and your online shop is ready to receive orders, you will want to start driving traffic to it. Promoting on social media like Facebook, Instagram and Pinterest allows you to use visuals, compelling captions and even targeted ads to reach your audience.

You will also need to implement SEO strategies to help drive traffic to your eCommerce platforms. Start by using keywords related to the digital product you are selling. This will help people who are searching online find your product!

Once potential customers are interested in your digital products, creating a sales funnel can help them through the buying process. You can offer webinars, blog posts, or even nurture them with marketing campaigns until they are ready to purchase.

As you can see, there are many strategies that need to be thought out before starting a digital product business, but it can pay off in the end. It is a great way to earn passive income and digital products can take very little time to create.

A Lucrative Opportunity

Digital products offer a lucrative opportunity for online sellers who want to make money online. By strategically creating a quality digital product and putting effort into marketing, you can successfully build a thriving online business. The key is understanding your audience, creating high-quality content, and using the right platforms.

Many entrepreneurs have traded in their physical products to sell digital products in their eCommerce shops and have never looked back! Are you ready to take the plunge into digital product creation? Sign up for our FREE Bulletin and turn your ideas into profitable ventures today!