Last Updated on August 10, 2020
How to Build and Sell Digital Products: A Roadmap With Six Ideas
6 You can sell digital products online
Sell educational goods, such as ebooks or courses.
Online courses are ideally fit for a more comprehensive content. From creating a presentation to recording a video walk-through, they require some right effort upfront. Start with learner results when designing courses: what do you want the student to know or do at the end of the course?
Within your courses, you can include quizzes, information tests, and interactive exercises to help break up material on learning and make your e-course more engaging. Consider using a teaching pattern like ADDIE and incorporate it.
If you find yourself an expert on a specific subject, digital products are a great way of packaging your knowledge and selling it to those who are looking to know.
If you have an abundance of free blog posts or tutorials about what you want to teach on YouTube, you can compete by delivering content that promises not education but transformation. In other words, don’t sell the product — sell the consumer’s own ability after buying your product.
To gain exposure for your products, you can leverage an established reputation as an expert, or if you start from scratch, you can build and offer free content to generate awareness and leads for your paid digital products.
Sell permits to use your digital assets.
There’s a global network of licensable digital assets posted by creatives for other creative to use in their work, from stock images to video recordings to music and sound effects.
You can charge for the use of your photos, videos, music, software, and more in your store and through online marketplaces, such as stock photo sites, by offering licenses to individuals and companies. However, some of these marketplaces may take up to 50 percent in commission for each sale, in exchange for exposure. If you want to create your digital assets destination, you can use Sendowl to provide unique auto-generated license keys to power this form of company.
When building assets, it helps to work backward from the intended audience’s needs. Start by focusing on what kind of assets they would like to use to produce goods that are actually in demand (and therefore, easier to sell).
Also, be sure to use watermarks and other security measures to protect your digital items, mainly if you sell images.
Sale membership for the exposure to exclusive digital items
You may bundle them together instead of selling individual digital goods, and lock them behind a paid subscription to generate recurring revenue.
This approach is ideal if you intend to sustain a growing library of premium content and to cultivate a dedicated group of members. In some cases, paid digital subscriptions can even create a chance to monetize your existing marketing efforts in content directly.
Because this content is behind a gate that is only paying subscribers can access through their customer account, you can also host exclusive, stream able content rather than downloadable.
Using ChargeRabbit for periodic subscription billing, and SkyPilot as your digital distribution system, you can develop this form of the business concept.
I am selling digital templates and tools.
Also, digital items can come in the form of intangible tools that empower professionals to perform activities that fall beyond their skillset or take up a lot of time. You should offer digital solutions to a given audience’s rising pain points and needs.
Such examples include:
- Product mockup of enterprise files
- Templates for job seekers resumed
- Enterprise Software
- Adobe After Effects Video Editor plugins
- Web designer Icons, Fonts or UX Kits
If you have a freelance company already, it may be worth exploring how you can turn your skills and expertise into digital goods to build passive revenue streams.
We are selling any music or painting.
If you’re a musician or an artist, you’ve probably explored ways to monetize your talents or the audience that you’re building. While t-shirts or prints are always an option, digital downloads can offer plenty of possibilities.
Alongside their merch, a musician can sell ringtones of their best songs. Or a cartoonist could make their art into phone wallpapers that can be purchased. With no inventory to hold, you can experiment with different formats to see what your audience wants without much risk.
Sell your expertise or services.
Services tend to match digital products well because services are necessarily their opposite — with services, your “inventory” is limited to the number of working hours that you can accommodate.
Also, customers often receive digital products with many services as part of their “purchase.” A designer is providing logos. A personal trainer could supply a plan for the workout. Leaning to that, you can position some services as packages that contain valuable digital products.
For instance, you could offer a fee-based consultation, along with a custom report or Excel spreadsheet, and then upsell your customers on other services or products. Or you could deliver a free downloadable tool to generate leads for your email list, a tactic employed by many online companies today.
If there are everyday tasks you perform as part of your service business that are easy for you but valuable to your customer, you may consider producing them to create revenue streams that require less time and effort to maintain.
How to find ideas for digital products which sell
Although waiting around for a eureka moment can be easy to get lost, discovering a good business idea is more of a process. It’s great to have an idea that excites you, but if you want an idea that sells, you’ll want to follow a brainstorming, research, and validation process.
To start with general ideas and write they all down. Don’t be overly critical. Bad ideas will bring on good ideas, and vice versa. The key to brainstorming is not to think things over.
If you’re looking for a spark, you can ask yourself some questions here:
Can you teach clients how to make use of your products? If you are selling knitting products, for example, you might give appointments to teach advanced knitting techniques.
Can you help your customers with things related to your industry at large? For example, if you are selling surfboards, you might develop a fitness program to help your clients stay at home in surf shape.
Think of the values on which you built up your business. What are the related topics? If you sell sustainable clothing, for example, you could build a course that will teach your customers how to lead a more sustainable life.
In what ways can you bring your customer’s community together? For example, you could run a virtual guided wine tasting event if you are selling kitchen supplies.
What’s right for you? For example, if you are very high at product photography, you may be able to teach others how to get better at product photography.
Do some research so you can add ideas to your list. Look for points of pain that your consumers have to do with your company, business, or principles, as well as topics that they love or excite about—these present significant opportunities in the form of an educational product to give interest.
Here are some excellent places to get work started:
Groups through Facebook. Facebook groups are devoted to any possible niche and audience, making them a perfect place to learn about what attracts your future customers.
Industry forum. Forums dedicated to your industry’s hobbies and communities can help you learn more about what people in your wider industry want and need.
Reviews of the item. Read both reviews to get ideas for your products and the products of your competitors. These could come from product reviews as well as stand-alone reviews on blogs and other websites.
Blog articles and comments. Read the blog material that your audience might be reading, as well as the comments, to get even more ideas. For example, if you are selling auto parts, dig around on blogs for the vehicle.
Customers Email. Lastly, don’t forget to re-read any emails or messages customers have sent over the years. The individuals who took the time to email you with thoughts and concerns are usually consumers with “high purpose” and may have shared some valuable insights.
You want to validate it before you commit too much time to an idea and make sure that your idea is reliable before you spend time building it. The last thing you want to do is spend a lot of time or money in a new venture without realizing that it will succeed.
There are a few ways for validating your idea:
Keyword research. Use a keyword tool to see how many people are looking for your subjects. That will give you an idea of each one’s size of the opportunity.
Google traits. Search via Google Trends for your topics. Look for topics where interest is growing. That means the size of the opportunity will continue to expand.
Request reviews. Contact your clients directly, either by email or via social media. A poll or survey is a perfect way to get input from customers.
Start small and make iterations. Often, playing with a smaller version of the concept with room for development is the best way of validating a concept. The goal is to get something out into the world as soon as possible so that from there, you can put the idea to the test and develop it.
Whatever industry you’re in, you have unique skills and expertise that will be of interest to your clients.