The internet offers many opportunities to sell digital products. But how to sell digital products online what product options do you have?
What type of digital products can you sell?
Digital products are way simpler to sell than physical products because you don’t need logistics or a warehouse. But what downloadable products can you sell online?
EBooks are one of the fastest-growing digital products. When you have some expertise on how to make and sell eBooks, you can write a helpful guide or an interesting story. There many different skills and topics you can write about like the fitness niche, cookbooks, DIYs craft, or about money and self-improvement or a fiction story.
No matter what kind of ebook you choose, you need to make sure your writing is of high quality and without grammatical errors. Because when you don’t make a quality ebook nobody wants to buy and read it.
What is also important is to plagiarize your ebook to mark it as your intellectual work. You can sell ebooks either on marketplaces like Amazon or make your own website/shop to sell it.
2. Online courses
More and more people use the internet to learn new things, which makes online courses a good digital product that you can sell. So if you enough knowledge about a topic you are interested in and want to teach others, you could create an online course.
It takes time and money to build a course and successfully market it. But if you choose a niche where people are interested in, you can make a living selling online courses.
Online courses need a hosting platform like teachable or thinkific, or you could also build your own course website, which is way harder and more expensive.
3. Sell Art and Designs
When you are a creative person, you make art or designs that you can sell online. There are d many options where you can sell your designs, be it on an online marketplace, or do it as paid work. You can also offer different templates, 3d objects, logos, concept art anything that you can upload online.
There are many different marketplaces like Envato or artstation, or you could use other sites like designbyhumans or redbuble etc. to print in on cloth and art prints. Of course, you can also build your own shop to sell your art and designs.
4. Images and videos
Maybe you love taking photos and filming videos and don’t know what to do with it. Then you can upload your photo and video on different stock platforms. Or make a website where you license your quality images and videos so other people and companies can use it for their projects. Also, make sure you watermark your work so it won’t get stolen when you share it online.
While stock sites like Shutterstock istock, or Getty images are very popular, you need to know that these platforms take between 20% -60% of your profit. It is why you may need to consider building your shop with a site like Visual society or SmugMug so you can get 100% of your profit.
Many companies want to build a website or need an infographic is where you can help and sell the products. It can be a website template or making a new font or write articles everything that website owners may needs.
For websites, you can also sell templates and plugins on Envato. While they also take a percentage, you can simultaneously offer the plugin template on your own company website.
6. Seling Software
Selling software online is the easiest solution. You can offer software, an app, WordPress plugins, or maybe a game anything that solves people’s problems and bring them enjoyments.
Here are many opportunities and marketplaces you can choose depending on what you create. For software, the best idea is probably to build your own website and sell it there. Apps you upload to google play and iTunes, and for games, you can use sites like steam, epic games store, gog, etc.
How to sell digital products online?
If you decided what you want to sell and your product is ready, you need to know how you can actually sell it. Many people think you just upload your digital offer, and then someones will buy it.
But the problem is how can anyone purchase it when no one knows about it. And even if people find the digital good, you need to get their attention that they actually purchase it. To convert customers, you need to make sure to keep the following steps in mind.
Finding a position on the market place
Many eCommerce startups fail because of the lack of product/market fit. To not be a part of this, you need to ensure your digital products fit the needs of the market. People don’t buy products they buy outcomes and feelings. For instance, “if I read this, I can become happier, or I make more money”.
To find your market find you need to look at what niches are popular. It is also important that you research competing companies that sell this product or similar ones.
When you have done this, you need to position yourself to potential customers, so they know you offer a product they need. You can do this by building a brand and having a clear brand message and goal in mind.
What also matters is to find the right customers; this is why you should know who your audience is and what persona your average may look like. Then you can get an idea of how your product benefits your potential customers.
When you have a product and know your audience, then you need traffic to your offer. Depending on if you have your own shop/website, you can use SEO to gain traffic, but especially if you use a marketplace, it might a good idea to use advertisements.
SEO can take a great amount of time, so you should consider using social media ads, working with influencers, or using other online channels. This will help you a lot to reach your targeted audience and to sell your digital products.
But it is also important to build your SEO traffic for your website while you use ads to gain organic traffic in the long run.
Using a Lead magnet
With a lead magnet, you offer something valuable in exchange for potential customer information. This can be anything an ebook, a guide, a free webinar, audio, or video. The goal is to get with the lead magnet their email address.
It is important to give them a free offer that is thoughtful and targeted. This will leave them being eager and wanting more of what you have. The more subscribers to your email list you get the more potential customer you can attract.
Offer a Tripwire
Tripwires are offers with a lower price where you give your email list a discount or showing them the “best deal.” You may think you would lose money if you do this, but it is more expensive to get new customers than retain them.
When you only think about your profit, you push potential customers to your competitors who are offering discounts and deals.
A tripwire should be sent after your lead magnet. The goal is to get first the lead with your free offer and then build a sales relationship through the tripwire. The result should be that you convert as many leads as possible into customers.
With the tripwire, you give a low ticket offer as a taster to your main product. It also a good idea to have a one-click upsell of your core product after a new customer checkout.
Selling the core product
With the taste of your lead magnet and tripwire, your build trust with your subscriber now you give them something more. This is where your core product that is your main offering comes in.
It most likely is higher priced than your tripwire, but you don’t have to make much profit from it. Many competitors make this mistake trying to make a profit from their core offer. But it is better to ensure you acquire more customers.
Now you may wonder if you can make any huge profit at one point. Yes, the next step, you will find out why it is a good idea to sell your core product, not to high priced.
Maximizing your customer lifetime value
Most companies are focused on the core offer, but smart and profitable businesses are building funnels to increase profit with value maximizers.
The goal is to get more sales of your product or immediately sell your second offer. You directly get a profit when you build a good customer relationship.
While there are on-click upsells and subscriptions/recurring billings, you can also cross-sell.
An upsell is the same product or different related product to the offer that is bought. Upsell has a lower price than the main product. For instance, McDonald’s has the core product hamburger and then upsells fries and cokes.
With a cross-sell, you offer a different product that is related to your core product. If you are selling an ebook about SEO, you can cross-sell an online marketing ebook.
It can make more revenue than predictable monthly/yearly subscriptions. You can also use more than one type of product and find out what works best with your core product and sell it.
Automation to scale sales
You use marketing automation to drive your people through your sales funnel. The goal is to convert a lead into a customer and then into repeat buyers.
With email automation, you can easily set up and sent emails to your leads and customers. Start with your lead magnet, followed by a tripwire, your core, and cross & upsells.
But don’t make the mistake only sending offers because you may lose them as email subscribers. Better bring them value with related topics and information about your brand.
Rember, without email automation, you leave out a lot of profit.
There are a lot of different opportunities you can sell online. You just need to choose the right platform to sell your digital products. Or build your own shop with Shopify and get the most profit. Whatever you do, you should make sure to market your offers both with Ads and SEO and strategically invest to generate more income.
Of course, it takes time and resources to earn money with digital products, but it can be worth it.
Let me know in the comment section what digital product you want to sell.