Over the years, the internet has opened doors to an untapped customer base for marketers. If you are savvy, you can tap into that base and start a digital business. Many entrepreneurs are investing their time and money into developing digital products that can help them generate passive income.
Digital products come in many forms, including ebooks, digital courses, printable formats, etc. Selling digital products is more feasible for entrepreneurs due to its lucrative potential and ease of delivery.
If you need more convincing, in 2020, over 2 billion individuals globally engaged in online purchasing, collectively spending more than 4 trillion dollars. Projections suggest this figure will surpass six trillion by 2024, presenting an opportune moment for individuals contemplating entrepreneurial endeavors.
If you want to start your own online digital product business but don’t know what digital products to sell, here are 12 great examples to help you out.
A digital product is something you create and share online. Unlike physical items, they're not something you can touch, although some can be printed. Examples of the best digital products to sell include software, online courses, and streaming services like music or TV.
A digital product is something you can sell online that you can't touch physically. It's like buying a book you can hold versus downloading an eBook you can read on a device.
E-commerce sales skyrocketed to 5.8 trillion dollars in 2023, a figure predicted to climb further. Entering this market is easier than you think, especially if you're familiar with creating digital products. By mastering e-commerce marketing and figuring out which digital products to sell, you can carve out your share of this lucrative market.
Unlike physical products, digital ones require no storage space, saving costs and enabling flexible work arrangements. Plus, selling digital products demands minimal investment compared to their physical counterparts.
You can often start for free, with your primary investment being time. Despite this, the potential returns are significant, as digital products can generate passive income for years.
Much like famous authors earning royalties long after their books are published, your digital products can continue to earn income for years.
Automation and strategic promotion allow you to maintain this income stream with minimal daily effort. Moreover, integrating digital products into online courses or coaching services adds value and convenience for customers, tapping into a rapidly expanding market. Forbes projects a $74 billion increase in digital goods spending by 2025.
There are many advantages to selling digital products, so if you are wondering why you should look into digital products to sell, here are a few reasons to make you consider getting into the business.
While digital products have a lot of potential, there are a few drawbacks. So, while starting, we suggest looking into easy digital products to sell. Also, keep an eye out for these issues.
If you're considering starting an online store and selling digital items but need help figuring out where to begin, check out these examples of digital products for inspiration.
Online courses are a hot commodity for selling digital products, and here's why:
To start selling courses, you can use special tools that help you make and sell them on your website.
By 2025, the online learning industry could be worth $325 billion, so if you've considered making a course, now's a great time to do it. You don't need to be an expert or have a fancy degree - people create courses about all sorts of things and find success doing it.
The next best option you can opt for is e-books. If you have the expertise and the capabilities, you can quickly write and start selling your ebooks.
An ebook can be anywhere between 5000 words or less than a hundred pages for it to be published on sites like Amazon, where it can be read and downloaded by readers interested in learning about your craft.
You can write an eBook once and sell it repeatedly without having to write it again. When choosing a topic, consider what you're good at - you might be surprised at how much valuable knowledge you have to share.
You can earn money by letting others use your digital creations like photos, videos, music, or sound effects. This passive income comes from licensing your work to individuals or businesses.
For example, you can create video transitions or music and earn money whenever someone uses them. You can sell licenses on your website or through online marketplaces.
To come up with ideas, consider what your audience needs and what's missing from current offerings. And remember to protect your work with watermarks and other security measures, especially when selling photos online.
One of the best digital products to sell on Etsy is digital templates, which are a great way to attract customers.
You can create and sell a wide range of templates, offering convenience to those seeking to simplify tasks like resume writing, business planning, or graphic design. These templates can be a source of passive income, particularly appealing to career coaches who can offer resume reviews and templates to job seekers.
You can charge for these templates or use them as freebies to attract clients for other services like coaching. Platforms like HireClub inspire, offering personalized coaching sessions alongside resume templates.
Graphic design templates, such as those for logos or posters, are also lucrative digital products. They offer easy customization and are often monetized on platforms like Canva, which pays creators based on content purchases or subscription royalties.
Alternatively, you can sell design templates directly on your website, giving you more control over pricing and revenue. With endless possibilities, you can create templates for various needs, from YouTube thumbnails to product packaging mockups, providing valuable solutions for your audience.
Have you cracked the code to success in your industry? Why not share your insights by creating a comprehensive guide?
Guides are like written mini-courses, offering step-by-step instructions on replicating a process. They can include templates, visuals, tools, and expert advice to provide valuable resources for your audience.
Consider crafting guides such as consumer guides, tourist and travel guides, gift guides, career guides, or specialized resources like a curated list of 100-300 tools for a particular profession or industry.
Looking for excellent guides on email marketing - Check out Mailmunch.
If you're a photographer, selling your services online can be a great way to make money. With more people shopping online, there's a significant demand for good product photos.
A good product photographer knows how to highlight the best features of an item in their photos. You'll need a good tripod and lighting setup to take great product photos.
You can sell your product photos on your website, through an agency, or in the marketplace. Think about offering different packages based on how many pictures you take or the style of the photos.
Digital files, like digital art, offer a flexible way to sell your creations online. Customers can choose the size or customize the artwork to their liking.
Examples include graphics, card designs, digital prints, music, and videos. You can easily offer these products through platforms like Teachable, which supports ebooks and guides.
With mobile usage surpassing desktop, there's a growing demand for apps. While competition is fierce, focusing on a niche can help your app stand out. Selling a mobile app can boost brand recognition and provide valuable user insights. However, acquiring users can be costly, and regulatory and platform restrictions must be considered.
Selling software can be lucrative, even without creating the next extensive program. You can focus on a specific area you know well and develop software to solve common problems within that niche.
When creating digital products to sell, spreadsheets are a great way to start. They are easy to sell and customizable, making them an excellent option for different creators to customize according to their needs.
Spreadsheets are essential for financial coaches and course creators but are also valuable tools across various industries. Beyond finance, you can create and sell downloadable spreadsheets, such as content calendars, calculators, freelance rate trackers, outreach lists for PR outreach lists, influencer marketing, trip planners, and meal planners.
Combining services with digital products can make your offerings even better. For example, a designer could create logos and offer sale templates.
Similarly, a personal trainer might provide live training sessions for people subscribed to their workout plans. You can also offer services alongside your online products.
For instance, you could sell consultations along with personalized reports or spreadsheets. Another idea is to give away free products to attract people to your email list. And if there are tasks you often do as part of your services, you could turn them into products to make more money.
Some examples of digital services you can offer include:
Selling digital patterns and prints offers a creative outlet for designers, allowing them to express their artistic vision and explore new ideas.
It also provides flexibility in working hours, enabling a better work-life balance. Engaging with creative communities fosters collaboration and support.
However, managing customer inquiries and order fulfillment can be time-consuming, and sales may fluctuate seasonally. Additionally, designers must stay updated with technology trends, which can pose challenges.
Digital memberships offer an exclusive community centered around your brand or content. Members might gain access to premium content, limited-edition merchandise, or event tickets. Some memberships focus on networking benefits, like Nomad List, which connects digital nomads worldwide and provides city data and trip-planning tools.
Membership sometimes revolves around something other than a physical item. Projects like the Bored Ape Yacht Club use blockchain technology to offer perks without a central focus. When creating your membership experience, aim for exclusivity and continuous value for members, making prospective clients feel like they're missing out.
Selling access to a membership site is an intelligent choice for recurring revenue. Building a community is critical. Offer exclusive perks like access to a community or gated content. For example, Tech Ladies offers free and paid memberships with unique features like private networking and members-only events.
Now that you know what digital products to sell, let’s get into the meat and potatoes subject of how you will sell these products. Knowing how to start with digital products to sell involves three steps. These steps are.
Choosing what digital products to sell is crucial with the variety of available products. Suppose you are still exploring your options. Here is a list of digital products to sell that you can explore.
When considering a digital product, consider where it can be created and uploaded. Here are a few platforms suitable for new users to easily create and market their products.
Creators earn roughly 35% when their design templates are individually purchased. Canva keeps about 65%.
Creators also receive a share of the subscription revenue based on how often their templates are used.
Ebooks: Authors earn between 35% to 70% in royalty fees.
Sellers of digital art, workbooks, and printables are subject to various fees:
Creators of graphic designs and digital illustrations receive 50% of the list price for each sale, with variations depending on the product.
A subscription model offers fonts, audio, and graphic design templates. Creators earn a share of Envato’s subscription revenue, which is determined by factors like the number of product downloads.
A digital marketing strategy is like a roadmap for achieving your business goals online. It's a plan that outlines what online methods and platforms you'll use and how much you'll spend.
For example:
To make money selling digital products, start by identifying a problem your product can solve. Consider issues like boosting confidence, improving health, or saving time and money. The more significant the problem, the better your product will sell.
Next, feasibility studies will be conducted to assess technical, economic, legal, and scheduling factors. Check resources, technology, and potential challenges.
Engage with your target audience through forums and Facebook groups. Learn about their needs, motivations, and demographics to tailor your products accordingly.
Set your pricing strategy by considering competition, value, fees, and expenses. Analyze competitors' pricing and types of pricing, such as one-time purchases or subscriptions.
Identify your direct, indirect, and substitute competitors to differentiate your offer and stand out. Understanding your competition helps you create a unique value proposition.
To make things easy, here is a checklist for you to follow.
Selling digital products online can be lucrative without the hassle of inventory or overhead costs associated with physical products. There are numerous ways to create and sell digital content, offering valuable solutions that can generate significant returns over time with some initial investment of time and creativity.
Once you've identified the perfect digital product, consider checking out Mailmunch to help you manage and create customizable email marketing campaigns to help boost your business.
Get started with your email marketing campaigns today
M. Usama is an SEO Growth Specialist and Content Marketer at Mailmunch. He is passionate about crafting engaging and informative content on email marketing and lead generation.
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