Digital goods cannot be touched or savored and yet, we all consume them — from music to video, ebooks, online courses, and more. Many entrepreneurs develop entire businesses around these intangible products due to their popularity. Moreover, many are developing and selling digital products in conjunction with physical services. How does selling digital products really help you to create and sell more digital products that are easily available to multiple customers without having to replenish inventory? It makes it ideal for freelance writers, blogger educators, and creatives who need passive income making websites that need less effort.
8 profitable digital product ideas to inspire you
The digital products that you create depend primarily upon your skill and interest areas. Market researchers have no intention of doing a video game explaining what they have done with market research (although this is cool). Having the right expertise can help in the identification and acclimatization of the customer with what he wants. Below are some of the best digital product sales to be sold in 2020.
Online publications and ebooks
Digital publishing has had an explosive growth rate in recent years. Statista said that ePublish revenue would be around $30 billion by 2022 alone. So many doomsayers believe in people never being able to read. It is beautiful to write about anything. Are we planning on self-publishing romances? What about short fiction? Is there anything written in this book? How should you get into a digital cooking series and learn affiliate marketing techniques? Online publishing does not limit a niche or an issue to a specific number of people. Writing’s a good option for people who have the talents to gain more recognition.
Music, podcasts, and audiobooks
Music, audiobooks, and podcasts make up 99% of people’s lives if they listen at least once per month. Of course, a musician would probably have looked to find another means of making money for his music. It doesn’t mean just creating a website is enough to build an audience. Find out the right way to make the best material accessible for people to buy. Upload the songs to Spotify or give them to customers through the direct digital download of the songs. Making podcasts can be quite simple. They may focus on specific topics or just have your friends talk about the movies they have seen.
Art and photography
Social media is an excellent way for artists to reach people with the same values as theirs and get more money. Digital art is an exciting opportunity for art lovers since it is adaptable to various media types. Digital artwork is not sold as canvas painting. Digital printing and printing are the cheapest ways to sell art online. You may also make your store more creative by expanding it with items like coloring pages, sketching patterns, or phone wallpaper. Australia’s artist store Mitch Rev’s, shows an excellent combination between art and commerce.
You can make stock pictures using DSLR cameras or smartphones and sell them to customers as stock images or as prints.
Online courses and e-learning materials
Learning is wonderful. Is it better? Learn without leaving home or wearing pants. The Elearning industry is already gaining popularity, and its value is predicted to be at $374 billion by 2023. As with every endeavor, you need to combine your knowledge and what your potential buyers want. You can then make video tutorials or videos to create courses you can sell online. The strategy for this is either a single fee or a monthly subscription. It all depends on your choice.
Mobile apps and computer software
From apps reminding people to drink water to those who track libraries or protect our passwords, everyone uses apps and software daily. Has anyone ever considered building one home? Developers are often viewed in this way because they can be lucrative. We should all be honest. There’s already plenty of competition within each category. This means that there are issues with existing solutions which address these pain points.
Video and stock footage
Tik Tok. YouTube. Instagram. Vimeo. There’s an enormous market for online videos, and as with written content, there are many topics for you to cover. No complex software or costly overheads are required. Smartphone cameras have become very popular in recent years, and there are several affordable video editing programs available like Descript Magisto and even Premiere Pro monthly subscription. When someone talks about YouTube, they might take the first thought immediately onto YouTube.
Creating and selling games is a tough task. But the rewards are real good. It is essential to create independent games. The development team can make games that have millions of users. Eric Barone created the Stardew Valley phenomenon entirely by himself. The book has sold more than 110,000 copies since its release. Video game production requires many skills ranging from code and level development to writing scripts, creating sprites, and creating a fantastic soundtrack. Despite this, it can happen.
Services usually pair well with various digital products because services have their opposites. With services, you are limited in the working hours you can accommodate. Plus, customers typically get digital products in conjunction with their purchases through various service offerings. The designers are the ones that make the logo. A professional fitness coach may offer a workout. Taking a broader view, you could position certain services in packages that contain useful digital assets. For example, you can provide a free consultation and a personal report or Excel spreadsheet and sell it to customers for a fee for a similar product.
Online learning is an excellent way to learn specialized topics. These require a little time to create and record a presentation. How do I learn if I have an upcoming course? Adding quizzes, tests, or other interactive activities to your courses helps to break down content within the e-book. Invest time and effort in teaching such ADDIEs. Digital products allow you to market information to other people who are searching for knowledge.
Digital templates and tools
Digital products are often found intangible tools that empower professionals to complete tasks that either fall outside their expertise or take much time. You can provide solutions to specific pain points or the needs of specific users. How can I sell my digital products online to my existing freelance businesses?
A quick sales and marketing tip for selling digital products
It comes a time when we all have to admit that finding a partner is the best decision one can make in business. It is vital to find a partner aligned to your expectations, a partner that can help you grow. Now, in terms of digital products, these require constant care and attention. You need to focus on beginning something new and exciting to the table. You can’t exactly do that f you have to run the entire show yourself. An eCommerce solution like PayPro Global can help take some of the load off your shoulders, handling the entire payment, compliance & tax ordeal. By outsourcing your entire payment & billing stack, you can focus on your business.