Selling digital products has become one of the most profitable businesses in the current century, especially in the last two decades.
Approximately $135 billion is a forecast based on a McKinsey report concerning global digital goods in 2024. Based on this strategy, we can infer that a good strategy has endless options.
It doesn't matter if you're selling e-books, online courses, software, or digital art; there is a growing market for digital products.
And the great thing about it? One-time digital tools require no further marketing effort. You can start a business with very little capital and grow it to a very large scale from nothing.
To start, let's define how much you can make selling digital products.
We will identify these products based on your income sources, the products or services offered, their pricing, and where they are sold.
Digital Products: What are They and Why Should I Sell Them?
Generally, a digital product does not have physical manifestation but is conceived, developed, and sold virtually.
These products don't require manufacturing, warehousing, or shipping space, which lowers production and distribution costs.
They can be data files, media, software, or other services that are accessible through the Internet.
Therefore, Some digital products include ebooks, distance learning programs, graphics templates, application programs, and other creative items like videos and audio recordings.
Now, you may ask, why sell digital products?
Well, selling digital products is a beautiful and powerful way to tap into a global marketplace, use skills, and earn passive income.
As with education, entertainment, and tools, people are increasingly gravitating towards technology-based solutions, which expands the digital products market.
Here are some reasons why digital products will always be in demand:
1. Huge Demand for Digital Products
Actually, there is a big market for digital products, and this is expanding.
As a JP Morgan report reveals, the digital product industry is expected to reach 74 billion dollars in value by 2025. Digital creators of all levels will find plenty of opportunities in this booming market.
2. A large Audience
The majority of people are willing to pay for your
Skills
Knowledge
Other valuable content.
Thus, you should target an audience of all ages.
In fact, you only need to package such skills into a useful product, and people will jump at the chance to buy it.
3. Entry Barrier is Low
The best insight about selling digital goods is that it requires little to no resources to get started.
Truly, most people do not need any coding skills, nor do you need any physical shops.
People who are designers, authors or teachers will only need a little experience to create digital products. Most websites provide templates and other features to make it easier.
You only need an Internet connection, along with a willingness to teach others. Locally or redeployed, you can develop and offer products without building restrictions.
4. Various Product Types are Available
There are several options to monetize expertise.
One can write an excellent promo if that's the one that you have when creating and publishing commercial aids.
Usually, the materials include
Articles
wire and video work
Computer applications
Internet classes
Images
Stock, etc.
Also, opt for anything that you are good at and that interests you.
5. Low Overhead Costs
Virtual products are incredibly cheaper to produce and sell than physical products in their initial phases. This encourages starting even with little resources.
Most of the time, when creating these types of products, one is using the knowledge that they already have. This means they cost next to nothing or nothing at all because the majority of online programs are cheap and even free.
Plus, digital products do not have a physical form; hence, there is no stock. Neither warehouse nor manufacturing nor delivery costs are incurred.
6. Instant Delivery and Convenience
There is no apparent disadvantage associated with delivery times when offering electronic products. Customers can implement this product without delays once they purchase it.
As there is no packing and postal shipping, digital products are less time-consuming as you do not face any trouble.
7. Passive Income Opportunity
An opportunity for passive income is when a digital format of a product is developed and made available for sale. In fact, there is minimal to zero active effort required to recoup the investment.
By doing this, one can switch to a new project or expand their business without losing income from their previous products.
8. Easy to Upgrade Anytime
Basically, digital rather than physical products are easier to upgrade and improve upon. You don’t have to do a total revamp or reprint to improve your product.
As the environment changes, you can swiftly implement changes and offer customers enhanced versions of your products.
When this course, ebook, or software is updated, simply update the content and save it as a new file.
Also, when you offer free updates or better editions of your product, customers are likely to repeatedly purchase your products.
Benefits of Selling Digital Products for Passive Income
Clearly, this is a great way to earn passive income. Because these digital products can be sold over and over again without any extra costs.
For example, if you write an ebook, develop an online course, or create some digital art, you can market it to an endless list of clients without ever having to produce anything. Even though you're not at the center of every sale, you can always make money.
However, you can also introduce a digital product sales approach by using sales platforms such as Gumroad, Shopify, or EzyCourse after creating a digital product such as an ebook, an online course, or a piece of software.
Each time the system is active, a dollar is earned for the first time without spending a penny to back up the sale.
Globally, the E-learning Market is estimated at USD 144 Billion in 2019 and USD 374.3 Billion by 2026, according to the study. From 2019 to 2026, the global E-learning Market is expected to grow at a compound annual growth rate (CAGR) of 14.6%.
As a result, the product range needs more functionalities and demographic variations.
Besides that, digital products are easily expandable in this business. It's different from physical products, where one needs to find places to store and ship them.
Also, creating digital products is an ideal source of passive income because it requires only a one-time investment for the creation, and it can be repurposed and sold with minimum or no effort at all.
Why Digital Products are Highly Profitable?
Well, a digital product or service is perhaps the easiest one to earn more money from. Since it does not require a lot of effort to sell after you create it.
If you're wondering how to make $100 a day selling digital products, let’s get to why these products are so ideal.
Reason #1: Most Ideas Have a Low Cost to Get Started
While tangible products usually require a lot of overhead costs before they can be sold, digital products are usually very inexpensive. You can start with nothing else but just a computer and an internet connection.
Selling digital items, especially on platforms like Etsy, Teachable or Gumroad incurs minimal costs to designers. Even if you have your own website, recurring expenses are still much lower than a brick-and-mortar shop.
Reason #2: There are No unsold Products
One of the greatest merits of digital goods is that there is no need to hold physical stock inventory. There is no storage, shipment, or any other traditional product management operations.
As a result, you cut down your expenses on shipping fees, warehousing, and the costs of making the goods.
For example, if you wanted to sell personalized mugs, you'd need stock, equipment, and storage space. With digital goods, all you need to have is a digital file that buyers can download at their convenience. That’s it!
Reason #3: Smoothly Growing
Digital products are attractive because they can be expanded without doing additional work on them.
When you have the product made, say an ebook, course, or design template, you will be able to sell it multiple times without making an effort.
Reason #4: Worldwide Availability
You can’t ignore the fact that when you are selling digital products, there is no restriction on geography. One can sell to any person, in any corner of the globe.
No matter what time zone your customers are in, online selling platforms, such as Amazon, Udemy, or your own website, assist you in selling worldwide.
Reason #5: Limitless Creativity
There is no restriction to what one can think up so long as there are digital products involved. Whatever your interests and skills are, you can create a digital product around them.
Also, You can create everything from mobile applications, e-books, and courses to fonts and animation.
It is possible to make a variety of products, so you can try out additional things and discover which works best.
Reason #6: Flexible Pricing
With regard to the digital products, the pricing strategy is totally up to you. It's up to you whether to target the cheap entry-level products or the super-expensive capital products.
A typical example would be selling a $10 digital planner and enrolling in a $300 online course.
Also, you can develop three-tier pricing, providing a package of several items with premium materials or offering them separately for more discerning customers. It helps reach a wider audience and increase revenues.
Reason #7: An Automated Sales Process
Once your digital product is created, you don't have to interfere with the sales process anymore, it's helpful. You can promote your product through email, advertising, social media, etc, and create automated purchase and delivery systems.
In Shopify, Gumroad, ClickFunnels, etc, you can create sales funnels where the buyer pays for the product and immediately receives it.
Automation implies that while you are making sales, you can also take time off or use it. This type of ‘hands-off sales’ is useful for growing your business.
Reason #8: No Hassles in Terms of Shipping or Time
In the case of virtual products, all you have to do is purchase them and access them. As opposed to physical products, this reduces operational stress and eliminates shipping expenses and delays.
Due to the fast-paced digital age, people expect to be able to use the product immediately after payment. In this way, impulse purchases and repeat purchases increase.
How Much Can You Make Selling Digital Products: 8 Steps to Making $100 Per Day
So, how much can you make selling digital products?
Well, before you hit a good amount of money, you’ll need to follow a few simple steps.
There are 8 key strategies to guide you through this process. You must find the right niche, create products that solve a problem, and promote them effectively.
Now, let's talk about it in detail
Step 1: Think of Different Ideas
The first thing you need to do after deciding to sell digital products is to start thinking about what ideas and concepts you like. This is the one which suits your skills and knowledge better.
Let's take some time to grab a pencil and paper and write it all down. Try the following sources, which might help you get some more ideas.
Identify Your Skills
What do you love?
What are the things others might pay you for?
Usually, It varies from photography to graphic designing, cooking or personal finance. You should know as much as possible about a particular subject to make your product trustworthy.
Examine what is in vogue right now.
Digital products can be in the form of the following:
Ebooks: These are common in education systems to impart information. For example, you can write an ebook that contains the most frequently asked questions and answers in your area of expertise.
Online Courses: Teachers may design a detailed course that includes videos, tests, and downloadable materials.
Digital Templates: These include planners, worksheets, and social media or website templates. They save many people's time and even workflow time, so they are increasingly popular.
Stock Photos or Digital Art: For creative minds, if art is your thing or if you have high-quality photos, you can sell them.
Membership Sites: Providing premium content or community can generate loyal clients who are ready to spend.
The more you outline your ideas, the more you will realize that you are also trying to determine which products may interest potential clients.
Step 2: Do In-depth Market Research
Once you have done brainstorming, the following thing is even more important than the previous one. It is the market research.
You need to know your opponents and the potential for the product you have selected.
Here is how to do market research on the digital product.
Look at similar products
Find out whether similar digital products are available on the web. Use Etsy, Amazon, or EzyCourse to see what is offered.
Be aware of how well or not so well particular types of products are selling, how they are priced, and how their customers feel about them.
By doing so, you'll be able to figure out what doesn't work well and what does.
Find market needs
Find areas where customers have a need/want that no product currently meets.
See what customers like and what they think is missing from other products. Even among many similar products, this will help you position your product.
Look who your customers are
Focus on the look and feel of your target customer.
What are their areas of distress?
What are they trying to find solutions for?
When you identify the target audience, you can develop a more effective product. Since a compact target attracts more buyers than a sprawled target.
Employ Tools for Market Insights
Check Google Trends, Keyword Planner, social media sites or other similar ideas to see if your product ideas are popular. In your niche, you will discover patterns of interest and recurring themes.
Step 3: Determine Who Your Best Target Audience
Now, identifying your best audience is significant if you wish to craft a digital product that will appeal to your potential clients.
You should determine who would be inclined to purchase your product and what obstacles they face. By doing this, you can attract the ideal audience to your site.
Identify Demographics
Age: What age group may most likely need your product?
Gender: Is your product gender-neutral, or does it serve one particular gender most of the time?
Location: Are there specific areas where your product is in demand most?
Income Level: What is your clients' average income level? This is important to help in coming up with an appropriate price for your product.
Understand Their Pain Points
Find the problem of your audience!
What problems do your target customers have that your product can solve?
What do they want as a result?
When one knows where they want to go, it will be easier to market the product as a means to accomplish that goal.
Reflect on Your Own Experiences
Get into the deep details of your personal life story.
What challenges have you experienced?
What was your way out of problems that are likely or exactly like the ones your audience is dealing with?
Understanding people and experiences is essential to creating relevant work.
Step 4: Select Your Sellable Products
After determining the target audience, the next thing to do is figure out which digital product to develop better.
Some of you might have a product idea immediately; others will build it based on your audience’s needs.
There are also standard products that we are now selling on the internet, such as ebooks, online courses, Lightroom presets, or templates.
For those who are good at creating, it is good to write about techniques for” blogging a secret” in an E-book.
Otherwise, if you are good at photography, you could also try out Lightroom presets. You should use your passions and abilities to increase your enjoyment of product creation.
You can gather insights and improve your product by testing your idea before launching it to your audience.
Step 5: Create Your Product's Identity
Marketing your digital product successfully requires a multilayered strategy.
Create your brand identity. Also, ensure your unique selling proposition (USP) is clear, and make sure your brand voice is consistent across all platforms.
This consistency helps create recognition and trust among your audience.
After that, Start a blog or YouTube channel that addresses your audience's pain points and positions you as an expert.
Use social media to share valuable insights. Also, offer free resources like ebooks and webinars to attract and engage potential customers.
Email marketing is another essential tool. Build an email list by offering free content as lead magnets, then segment your audience for targeted communication.
Providing regular newsletters and valuable content can help convert these leads. Collaborating with influencers or affiliates can also widen your reach.
For your product launch, think about hosting a live event or webinar to build credibility and showcase your product. Offering limited-time promotions can create urgency and boost initial sales.
After the launch, focus on pricing strategy by offering tiered packages or a subscription model to provide value to a range of customers. Then, continue post-launch engagement by collecting feedback, creating content, and upselling or cross-selling related products.
Last but not least, utilize analytics tools to track performance and adjust your approach based on market trends and customer feedback.
Step 6: Working on the First Class of Products
The design of high-quality digital products requires-
appropriate strategies
efficient systems,
constant improvement.
Let’s see e a step-by-step approach to creating successful digital products in the market.
1. Plan Your Product
Define Your Goals: Start with a clear understanding of what you want to achieve. Is your product intended to solve a problem, teach a skill, or entertain? Knowing your goal will guide your content creation.
Outline Content Structure: For eBooks or courses, create a detailed outline listing the main topics and subtopics. This ensures your content flows logically and covers all necessary information.
Break It Down: Divide your project into smaller, manageable tasks. Establish a timeline for development, testing, and launch. This helps you stay organized and on track.
2. Use the Right Production Tools
Design Tools: Invest in quality design software like Adobe Creative Suite for professional-grade designs. For beginners, Canva offers user-friendly templates that can help you create visually appealing content quickly.
Audio and Video Creation: Utilize software such as Final Cut Pro for video editing and Audacity for audio editing. These tools can help you create polished and professional multimedia content.
Coding and Development: If you’re developing software, use platforms like GitHub for version control and Visual Studio Code for coding. This ensures your code is organized and easily manageable.
3. Create the Product
Follow Your Plan: With your outline and tools ready, begin the creation process. Ensure your product is user-friendly and tailored to your audience’s needs.
Focus on Quality: Use high-quality resources to create content that is engaging and professional. For software, rigorous testing is essential. Release a beta version to gather feedback from a select group of users.
Iterate Based on Feedback: Utilize user feedback to make improvements. This iterative process ensures that your product remains relevant and valuable.
4. Define Your Value Proposition
Clarify the Benefits: Clearly communicate what makes your product unique and why it’s the best choice for your target audience. Highlight specific problems your product solves or the benefits it provides.
Demonstrate Real Value: Use case studies, testimonials, or examples to show how your product has positively impacted users. This builds trust and credibility with potential buyers.
5. Incorporate Customer Feedback
Collect Feedback Regularly: After launching, implement systems to gather customer reviews and feedback through surveys and social media. Understanding user experiences can provide insights for further development.
Make Continuous Updates: Regularly refresh your product with new features or updated content. This demonstrates your commitment to providing ongoing value, encouraging repeat purchases and customer loyalty.
6. Market Your Product Effectively
Develop a Marketing Strategy: Plan how to promote your digital product. Use social media, email marketing, and content marketing to reach your audience effectively.
Offer Free Samples or Trials: Consider providing free trials or samples to attract potential customers. This allows them to experience the value of your product before making a purchase.
Leverage Partnerships: Collaborate with influencers or other creators in your niche. This can expand your reach and introduce your product to a broader audience.
7. Monitor Performance
Use Analytics Tools: Employ tools like Google Analytics to track user engagement and sales data. Understanding how users interact with your product can guide future enhancements and marketing strategies.
Set Key Performance Indicators (KPIs): Establish measurable goals to assess your product's success. This could include sales targets, user retention rates, or customer satisfaction scores.
By following these steps, you can create high-quality digital products that not only meet market demands but also provide significant value to your customers.
Step 7: Select the Most Appropriate Platform
Choosing the right platform is essential for successful e-commerce sales. You can sell through your website or social media channels like Instagram and TikTok.
Sell Through Third Party Marketplaces
When selecting a space for digital downloads, think about these main aspects in order to relish a stress-free configuration:
Searching for a solution that has a simple interface that will help you set up a professional store with no programming skills needed.
Check if the platform comes with the necessary eCommerce modules, safety options, SEO services, and design customization tools.
The AI tools support product listing optimization and improvement of store aesthetics.
Select a system and best website builder that offers advanced system features for business growth when expanding.
After-sales support is very important, especially for novices who may require aid in configuration and problem-solving.
Check the pricing structure of the platform and any extra charges on feature access or operational transactions.
Among the security policies for sensitive information management is SSL adoption, as well as firewall functionality.
Common Third-Party Platforms
Shopify: This has an array of e-commerce applications and analytic tools but charges regular subscriptions, which might bother the novice user.
Etsy: Provides an opportunity to sell unique items to a broad market. However, different fees are charged depending on the listings and sales.
Amazon: A lot of sellers are waiting for ultimate seller promotion tools on Amazon, but this can only be done if you pay a lot of money.
Payhip: Most users find it easy because it offers marketing platforms. However, users incur fees for transactions even on the free version.
Selling via Your Own Website
Making a site for yourself and selling digital products allows for better branding and an improved customer experience.
Here are some advantages and disadvantages:
Pros:
Complete control over branding, pricing, and customer interactions.
Higher profit margins without third-party fees.
Direct relationships with customers foster loyalty and repeat sales.
Customizable shopping experience tailored to your audience.
Cons:
Initial setup can require significant time and effort.
Step 8: Create a Sales Funnel
Basically, a sales funnel will help passive income generation by creating awareness and trust with your potential clients. It eventually leads to orders using your digital goods.
Initially, you must pull in your target market, introduce them to your brand, and then slowly raise their interest in it.
Here’s a simplified six-step sales funnel for selling digital products passively:
Attract Attention: Offer a valuable freebie related to your paid product on your website to capture the interest of your target audience.
Collect Leads: Require visitors to sign up with their email addresses to access the freebie, adding them to your email list.
Nurture Relationships: Send a series of engaging emails that provide additional value, insights, and tips related to the problem your product solves.
Introduce Paid Products: Gradually present your paid offerings within the email sequence, highlighting how they complement the free resource.
Provide Further Value: Host a webinar or masterclass to showcase the benefits of your paid product and share success stories or testimonials.
Encourage Action: Use clear calls-to-action in your emails and during the webinar to prompt interested subscribers to purchase your digital product.
Is it Worth Selling Digital Products?
Absolutely, selling digital products is worth it! The beauty of it lies in the low overhead and high usability.
Once you've created a product, like an e-book or an online course, you can sell it unlimited times without worrying about inventory or shipping.
In fact, the global e-commerce market is expected to reach $7.96 trillion by 2027, which makes it an extremely profitable market.
For example, consider a creator who has an online course for sale for $100. Upon selling 100 courses, the creator would make a revenue of 10,000 dollars.
Popular selling platforms such as Etsy and Gumroad make it very simple to sell products all over the world. Plus, the products are in high demand and can earn passive income after the first activity.
In other words, if you look at profitability and creative content delivery, the digital products business is indeed excellent!
Moreover, passive income can be earned; that is, one single product can be sold multiple times without being bought again from the seller.
Even most entrepreneurs choose to sell digital products because they are in high demand, low cost, and easy to grow.
What Should You Consider When Selling Digital Products?
Actually, the idea of selling digital products can be pretty enticing.
But you should be careful as it is not as easy as "Throw something up and hope for the best".
In fact, It requires a bit of groundwork to succeed in this segment of the market and achieve the fancy sales figures you may have heard about.
As you start selling digital products, there are a few things you need to know.
Product Type And Quality
The type of digital product that is to be sold will highly influence how much you will end up earning.
Below is a breakdown:
High-Value Products:
Most consumers rarely purchase digital goods that require complex training and experience, such as software applications, interactive courses, and unique geared products.
Example: Coding boot camps charge $500-3000 for the entire course, while professional programs can cost between $100 and several thousand dollars.
Lower-Cost Products:
Compared to that, more simple products like journals, planners, colouring pages, stock images, and simplistic eBooks are typically less expensive, ranging from $1-20.
The products cost very little, but if sold in large quantities and marketed correctly, they can be profitable.
Even at a lower price, a well-structured planner can generate hundreds of sales in less than a month.
Pricing Strategy
Pricing allowed the company to achieve maximum revenue. Here are some factors to keep in mind:
Market Research: Conducting competitor analysis would yield the price range for your niche. Such a study enables you to conceive the price customers can afford to pay and assists you in marketing your products.
Value Proposition: When your product has a differentiating quality that no other competitor can match, you can charge a higher price. If you design a specific eBook or online course with personal coaching, you can charge a lot.
Tiered Pricing and Bundles: Engaging other price levels/other illustrations or methods might enable you to widen your market reach. In this case, you might sell an essential eBook at 15, a course at 99, and both at 110. Customers are driven to increase spending when it relates to this strategy since it incorporates price brackets.
Demand for Your Content
Now that you are ready to convert the idea, the next thing to figure out is the demand.
It is essential to know whether there exists a target audience that wants what you are about to offer. You can develop products that appeal to the target audience by following trends and studying customer interests.
These digital products include e-books, online training courses, software downloads, and subscriptions, all with low initial investment and high likely returns.
You are assured of success if you can get into a market that is both currently in vogue and has the potential to grow.
Size of Audience
Every single sale is essential. However, that perspective is a bit restrictive - how can you get in front of sufficient customers to generate revenue?
It is at this point that audience size becomes essential.
There are certain types of audiences that you will be looking for through platforms that active users already populate.
For example, Whop is a marketplace that has millions of users who are currently searching for digital products. You can increase your sales by converting some of those potential customers into actual customers when you utilize these platforms.
Audience Engagement
Your customers will become more loyal to your products if you engage with them.
Here are a couple of methods to improve engagement:
Social Media Interaction:
Enhance your participation on social media by contacting your followers.
You can answer their questions, encourage them to comment and express their opinions, and post topics that interest them. As a result, the audience becomes more interested in the brand.
Community Building:
It may also be worthwhile to think about establishing a community that focuses on your products, e.g., a Facebook group or an online forum.
Here are places where customers can interact, tell their stories, and give their opinions. Eventually, this builds brand loyalty and attracts more customers.
Effective Marketing Strategy
Having established your product and the audience, it's high time to focus on the offering's marketing. Properly formulated marketing is of core importance.
Here's what the marketing plan consists of a variety of websites, analytical data, and exciting information.
Target audiences can be reached through launching social media campaigns, planning targeted newsletters, and even painting an exciting picture. The main focus is raising awareness and getting people involved to convert them.
However, digital marketplaces have so many marketing tools that make the process even easier for you.
Customer Experience
Customer experience is, at times, the make-or-break of a business.
Due to the many options available, customers are less forgiving and will leverage their experiences across platforms.
All the way from the moment they land on your page to the moment they buy, they seek simple messaging.
The little things matter most at this time. You want to be sure that all the touch points are pleasant and among other things stress-less.
It is also possible to do away with labor related to product sourcing, inventory storage, delivery, and payment with a digital marketplace.
Continuous Improvement
Last but most certainly not the least, please bear in mind that the digital marketplace is constantly changing, and so should you.
Consult your clients, assess sales figures, and be flexible enough to provide a better approach where necessary.
Through learning, the relevance of the content remains, but the audience is better reached. No matter what, there always has to be room for improvement, from services offered to marketing strategies.
Legal Considerations
When considering trading in digital products, legal considerations should be the first thing that comes to mind.
You must prove, in this case, that you have the right to sell the product and are not infringing on other people's rights.
Moreover, understand the basic laws governing the sale of digital products, which include data protection laws and consumer protection laws. Clearly stating the terms of service, privacy policy, and refund policy can help customers trust a business in the long run.
It is possible that legal issues may annoy you in the future, but preparing for them in advance may help you avoid them.
The Top 5 Digital Products You Can Sell Online
Basically, selling digital products online is a fantastic way to generate income with low costs and high profits. You can sell digital products from the comfort of your home, reaching customers across the globe.
It doesn't matter whether you're an experienced business owner or just starting out.
Also, you could sell anything from online courses and eBooks to digital art and design templates.
Here's a look at 5 of the top digital products you can sell to tap into a global market while fulfilling your passions and skills.
Product 1: Memberships and Paid Communities
Once a membership or paid community is established, it becomes relatively easy to monetize, although regularly.
They encourage creators to share knowledge and create a community, as well as sell their services.
E-learning is expected to reach nearly 400 billion dollars by 2026. As of 2019, there were almost 200 billion dollars in the global e-learning market.
In the same year, the learning management system (LMS) market generated roughly 18 billion U.S. dollars, demonstrating the appetite for online learning.
Members-only forums, workshops, and Q&As may be available as additional resources to members.
It is possible for some members to earn a decent living following this membership scheme. Memberships have also motivated most creators to make a lot of money.
What are the best places to sell memberships?
Membership Platforms: Thinkific, Kajabi, and EzyCourse provide such facilities for the effective delivery of content and managing members themselves.
Online Community Platforms: Discord and Slack are suitable for engagement among members in real time.
Social Media: Facebook Groups, where interaction and contribution to the community happens.
Subscription Services: Creators can sell access to specific areas of their work through Patreon.
E-commerce Platforms: Shopify, alongside membership apps, allows for the proper handling of subscriptions.
Self-hosted Websites: WordPress with membership plugins features ultimate editing and user control.
Product 2: eBooks
eBooks have gained a reputation as one of the most favorable digital products available to audiences in no particular niches or genres.
What is so interesting about eBooks is that they can be a source of knowledge or amusement or both.
The categories of eBooks include self-help, business, cooking, health and fitness, and fiction.
Yet, the best-selling eBooks tend to be the niche ones that focus on a particular topic. Such eBooks cover a specific interest or problem and offer a solution to the readers.
Ebooks are viral as far as demand is concerned.
As per Statista's report, the eBook market value worldwide reached around 18.13 billion U.S. dollars in 2020, and it is expected to grow by over 23.12 billion U.S. dollars by 2026.
In regard to future growth, however, this scenario presents enormous possibilities for writers or businesspeople.
You don't even need to be an experienced novelist to tap into this lucrative field. Instead, you should think about your abilities and experiences and how you can translate them into the written word.
Creating Your eBook
Once you've validated your idea and confirmed market demand, you can begin crafting your eBook. Here's a high-level overview of the process:
Choose a Compelling Topic: Select a subject that aligns with your expertise and resonates with your audience's needs.
Develop an Outline: Structure your content logically. This outline will serve as a roadmap for your writing.
Write the Content: Flesh out each section of your outline with valuable information, anecdotes, and actionable insights.
Proofread and Edit: After completing your first draft, review your work for clarity, grammar, and flow. Consider enlisting the help of an editor or using tools like Grammarly.
Create a Cover: A visually appealing cover can enhance your eBook's appeal. Use design tools like Canva or AI art generators to create a professional-looking cover.
What are the best places to sell eBooks?
Self-Hosted Platforms: Use platforms like Thinkific or Teachable to control pricing and customer interaction fully.
eCommerce Platforms: Amazon Kindle Direct Publishing (KDP): Reach a vast audience with minimal marketing effort. Distribute your eBook to multiple online retailers and libraries.
Kobo Writing Life: Ideal for international authors, offering global reach and promotional opportunities.
PayHip: Allows selling eBooks directly with built-in marketing tools and customizable checkout pages.
Udemy or Skillshare: Package your eBook with video lessons to sell as a course or supplementary material.
Social Media & Personal Website: Promote and sell through your personal website or social media platforms using tools like Facebook Shops or Instagram Shopping to drive traffic.
Product 3: Software and Apps
In the digital market, software, and apps serve a wide variety of needs in many different fields.
This digital application enables users to work more effectively, organize their activities, and improve processes.
However, time recording applications, graphics personnel tools, or any other operational tools specific to a profession have the potential to make profits.
As most of the software products are subscription-based, they create a consistent revenue stream and some can be fully sold. In this space, success depends on how well one understands the targeted market and the problems these products seek to solve.
With the right strategies and routes, you can satisfy the high demand for software and apps and bring your ideas to market.
Types of Software and Apps Productivity Tools:
These applications are there to make enhancements in time management, project management, and task management.
Trello, an application for organizing procedures in a board format, and Todoist, an application for creating tasks and setting deadlines.
The productivity software segment is expected to grow to US$78.82bn in 2024 (Statista), showcasing the growing need for tools to enhance performance.
What are the best places to sell Software and Apps?
Your Own Website: Create an online store by integrating Woocommerce or Shopify and sell the products to the customers.
Software Marketplaces: Place your app on Amazon, Apple App Store, Google Play, and Microsoft Store to reach the largest audience.
Online Marketplaces for Digital Goods: Sell programs through sites like Gumroad, Sellfy, and Etsy.
Subscription Platforms: Establish an income stream using subscription patterns such as Patreon or Substack.
Social Media and Online Communities: Work out ways of marketing your software on appropriate Facebook pages and some Reddit communities aimed at potential users.
Affiliate Marketing: Initiate an affiliate marketing program to help market your business.
Email Marketing: Gather lists of email addresses using programs like Mailchimp to reach out to people who are interested in your offerings.
Product 4: Digital Art and Graphics
As we all know, Online tools enable organizations and brands to expand their reach and communicate better with their target audiences.
Digital art and graphics are used in online marketing, including images, logos, and online brochures among other items.
It covers different styles of visual communication and is highly useful for designers, marketers, and other content producers.
However, images, artworks, illustrations, and photo stock are still classified as digital art and graphics.
Companies and individuals can improve their brand and online presence if they have good-quality images and graphic design work.
In fact, sites, brochures, marketing collaterals, and other design-based works will look attractive with the help of graphic icons and graphic fonts.
As visuals become more and more popular in the current age, artists and designers will be able to earn money by selling their drawings, images, and designs online.
What are the best places to sell Digital art and Graphics?
Stock Photography Services: Shutterstock, Adobe Stock, Getty Images
Creative Market Place: Creative Market, Envato Elements
Personal Sites: WordPress, SquareSpace
Social Networks: Direct sales or promoting on Facebook, Instagram, Pinterest
Print on Demand: Redbubble and Society6 to buy physical products
Product 5: Online Courses
Online course creation and mentoring offer added benefits to those with a wide range of knowledge.
Many people are ready to learn at home for fun or for their careers, and there are opportunities to build online courses.
Teachers, corporate trainers, and anyone with expertise in particular fields can benefit from this type of learning.
You may have a burning desire to share your knowledge with the world but lack the necessary licenses to be a professional educator.
What are the best places to sell Online Courses?
The course marketplace: Udemy, Coursera, and Skillshare
Platforms that give the instructor full authority of the course: Thinkific, Teachable, Kajabi and EzyCourse.
Sales platforms: Shopify or WooCommerce accompanied by course plugins
Social Media: Facebook and Instagram for direct sales promotion
YouTube: Selling courses through a sequence of free content
What's Changing About the Creator Economy as a Way to Make Money?
Over the years, the creator economy has changed along with the rise of digital material and social networks.
At the moment, there are more than 207 million creators in the world. These people use their skills to make money on a variety of online sites.
One study from Goldman Sachs says that the creator economy will be worth about $500 billion by 2027. This growth indicates people are more open to creating their own content.
From web designing to digital marketing, freelancing is booming, with 1.57 billion global freelancers. Web developers, in particular, are among the highest-paid
The fact that 50% of these creators are also money-makers supports their creative qualities. 4 in 10 are making more money now than they were two years ago.
Nowadays, many creators are making good money from a variety of revenue streams, making 6 times the minimum wage in the US.
A few of them run workshops, give online classes, write and sell eBooks, build a community with paid memberships, and are online influencers.
Also, it's important to note that three out of four producers think it's possible to make over $50,000 a year.
People can now make money using their skills and hobbies thanks to the creator economy, which has changed the way people think about making money.
As more people become creators, they need to learn how to use digital goods and communities to make money. As a result, they are able to earn more money.
How Much Are Creators Making From Digital Products Selling?
As the creator economy has grown over the past decade, it is clear that many individuals are converting their talents into digital products.
Here are five in-depth cases of how much creators make from various digital channels:
Example 1: Think Media Podcast
Think Media Podcast collected an incredible $546,586 for selling a digital product that was worth $27.
Here, one low-cost but high-volume selling tactic proves to work.
By using its vast audience and providing valuable content consistently, the podcast creators made great income as they relied on their followers.
However, it goes to show this example is even cheaper. Also, simple-priced e-books and other digital products can be profitable if they are designed to attract customers.
Example 2: Diamond Lee
Digital creator Diamond Lee was able to make about $20,000 within two months, right after launching her very first eBook.
It also highlights the value of digital books and effective marketing for this technology.
Combined with a good marketing strategy that included social media and email marketing, Lee's e-book's success was attributed to the content found in it.
Example 3: Online Course Creators on Udemy
Creators on Udemy, one of the largest online teaching and learning sites, sell online courses. They are able to generate an estimated average annual income of $60,200.
This platform effectively helps teachers engage a larger pool of students and capitalize on their knowledge base efficiently.
Depending on the field, such courses can earn a lot of money, reaching six figures for some creators purely from the sale of their products.
Example 4: Membership Sites
Well-established membership sites have the potential earnings of $200 – $5,000 a month.
Such platforms often provide their members with limited content, which enables the creators to have passive income.
However, membership fees range from about $25 to $49, making this a promising model for those who have good content to offer.
For example, having 100 clients with $30 a month each makes $3,000 a month, which shows that this model can grow.
Example 5: Stock Photos and Videos
You can expect to pay anywhere between two cents and twenty-five cents per image per month if you wish to sell stock images and videos.
Even though these rates on a single image appear low, they can be substantial when viewed collectively, especially for those with extensive collections.
You can earn between 10 cents and 99 cents per month for limited and exceptional content based on the market demand and yourself.
The fact is that a lot of great stock creators have passive income.
In this market segment, long-term earnings are possible because they constantly add photos and videos to their collections.
How Anyone Can Earn Over $2000 a Month Selling Digital Products
Due to the low initial investment and high potential for growth, digital goods have become an increasingly popular way to generate revenue.
Quite a number of people have discovered the use of selling such digital goods as e-books, e-courses, and digital goods memberships, among others.
As a matter of fact, in March 2024, more than 1300 people sold more than 2000 dollars every month, and others earned more.
Anyone can be part of this trend with the right kind of tools, knowledge, and experience.
The good news is that EzyCourse is one platform that has made this journey even easier.
It’s a one-stop shop for selling both digital and physical products, it is also highly effective and easy to use.
In fact, the system has no hidden charges; it provides users with advertising tools and also gives the users the option of seeing their activities graphically.
Many sellers have reported more than 2000 dollars in earnings every month after using Ezycourses' e-mail campaigns, storefronts, and unlimited product features.
However, The platform offers everything you need to launch and develop your own digital economy business, regardless of your level of experience.
So, Why You’ll Like EzyCourse?
Create and Manage Products with Ease
Creating products with EzyCourse is not tricky. Choose the product type, enter a description, add pictures, and enter the price.
That is it. Put things in customizable categories so customers have an easy shopping experience.
Sell Unlimited Products
There is no limit to the number of products.
The business can grow freely depending on what can be produced or set in terms of price. A user can create and list as many products as possible for sale without restrictions on quantity or price.
Sell Any Digital/Physical Products
With EzyCourse, any product that people want to sell, whether physical or virtual, is now made so simple.
In a matter of minutes, you can host and sell a whole range of products within a folder, including t-shirts, e-books, audio files, PDFs, and more.
Amazing built-in features
As a platform for creation, sales, and management, EzyCourse is a cut above the rest. It comes with amazing built-in features and a simple interface that allows for the growth of one's business without the use of many tools.
Easy Customization
Modify the appearance of your store so that it is brand-personal to you and does not compete with others. With no additional costs, you can get your products seen where they matter most.
Boost sales with SEO and mobile apps
With EzyCourse, you can improve your marketing and sales results with SEO features.
Furthermore, Gama's mobile app offers clients credible outreach anytime for purchases that incorporate both learning and purchase.
Custom Application
Provide a custom-made application that customers will use to access your products wherever and whenever they want.
Live tracking reports
Open reports showing what has been sold and what the clients did in order to improve tomorrow's sales.
You can earn extra revenue by letting vested Partners sell your products and make full-fledged purchases on your behalf.
How to Add or Sell Digital Products with EzyCourse?
Sign Up and Access Dashboard: Create an account on EzyCourse and log in to access your dashboard.
Select Product Type: From the dashboard, you can list any of your products as you want. You can either sell digital products like eBooks, videos, audio files, PDFs, or physical products.
Fill out the necessary product details:
Add a product title.
Upload images or files (e.g., PDFs, videos, or zip files).
Write a detailed description.
Set the price for your product.
Organize in Categories: Categorize your products to make them easier to find. This helps improve user navigation and search results.
Set Up Payment Options: Configure your payment settings to receive payments from customers. You can link your preferred payment gateway.
Publish the Product: Once everything is set up, publish the product on your EzyCourse store, making it available for customers to purchase.
Manage Your Products: Use the dashboard to edit product details, track sales, and update inventory or prices as needed.
Promote Your Products: Take advantage of built-in SEO features and share your product across platforms to boost visibility and increase sales.
By following these steps, you can easily add and sell digital products on EzyCourse.
Pros:
Unlimited product uploads.
Easy to manage and customize the storefront.
No hidden transaction fees.
Built-in marketing tools like email campaigns.
SEO optimization to improve search rankings.
Branded mobile app for selling on the go.
Real-time sales and customer insights.
Affordable pricing for all levels.
Ability to add revenue partners and manage upsells.
Private or hidden product settings for exclusive sales.
Cons:
A credit card is required to start the free trial.
Pricing Plans
Essential: $59/month
Pro: $139/month
Unlimited: $199/month
Elite: $299/month
Enterprise: Custom pricing available
Actually, EzyCourse offers a range of plans to suit different business needs, all with the tools to help you sell digital products and maximize profits.
So, How Much Can You Make Selling Digital Products? Final Words
And that’s it! Hopefully, this guide to selling digital products has given you a good sense of what can be earned in this exciting market.
The amount of money that you can make depends on the particular business you have. Hope you can make a lot of bucks with your digital product-selling business.
Although earning income from digital products can be rewarding, proper planning, research, and marketing are essential.
But once you’ve mastered these, the earning potential is endless. No matter how big or small you start, this option provides great flexibility.
If you have any other questions or need assistance, please don't be shy to contact us!
We finish our correspondence here, continue our work on the digital products, and let their inspiration be yours!
