Digital products can’t be tasted, held or touched and yet everyone buys them – from videos and music to online courses, ebooks, and more.
Due to ease of distribution and popularity, many entrepreneurs build their business around these goods or they decide to launch their own digital products to complement the services they offer online.
What makes them even more attractive is that digital products can be created once and sold multiple times to different customers without having to update your inventory, making them perfect for educators, artists, and freelancers looking for new ways to make money.
Let’s see what digital products are, what digital products to sell, and how to sell them.
What Are Digital Products And Why Sell Them Online?
A digital product is a piece of media or an intangible asset that can be sold and distributed online. These products usually come in the form of streamable or downloadable files such as PDFs, MP3s, plug-ins, videos, and templates.
Digital products come with many advantages that make them attractive to sell:
- Potential to automate: All orders can be delivered quickly, allowing you to be hands-off with shipping and fulfillment.
- Low overhead costs: You don’t have to worry about inventory or any shipping costs.
- High-profit margins: Considering that there are no recurring costs of products, you can retain the majority of your profits.
- Flexible products: You can offer products for free to build an email list, licenses to use your products or monthly paid subscriptions to unlock exclusive digital content.
Like any other product, digital products come with challenges.
- You are competing with free goods: With digital products, customers can find free alternatives to what you are offering. Think about the niche you are targeting and offer premium value with your products.
- Susceptible to theft: Make sure to take precautions to reduce the risks of theft and piracy.
- Restrictions on how to sell: For instance, you must sell physical products through social media, according to their commerce policy.
5 Best Apps for Selling Digital Products
If you are looking for ways to add digital products you can sell on your online store or website, there are great tools you will want to consider.
If you are a musician, this is the perfect app for you. Not only does it simplify the sales process, but it also allows you to include clips on your product page.
#2. Digital Downloads
This is a free app, designed by Shopify and offers a simple way to sell digital products online in your store. Customers can download the file and receive a link in their email.
This is another digital delivery app that offers great features and has a free plan. There is also 5MB of storage and you can attach multiple files to one product.
If you think your digital product business is a bit complex, this app is perfect for you. The app comes with all kinds of features and automation such as auto-generated license keys, expiring links, and much more.
#5. Sky Pilot
This app is perfect for building a membership program, allowing you to sell files of video streams to customers. The customers can access their purchased files through their customer accounts.
Ideas for Digital Products to Sell
Here are a few creative ideas for digital products to sell online.
Sell Licenses To Use Your Digital Assets
From video footage to stick photos, music, and sound effects, there is an ecosystem of licensable digital assets. These assets are uploaded for creatives for artists to use in their work.
You can charge for the use of your videos, photos, software, music, and more through online marketplaces or in your online store.
Sell Website Templates and Tools
One of the best digital products to sell these days is website templates. You can sell digital solutions to the common needs and specifications of your audience. You can sell software for businesses, product resume templates for people looking for a job, product mockup files for entrepreneurs, Adobe After Effects plugins, fonts, icons, and UX Kits for website designers, and more.
If you have a freelance business, you can turn your skills and services into attractive digital products and create passive streams of profit and revenue.
Sell a Membership for Access to Digital Products
Instead of selling digital products, you can group them together and lock them behind a premium subscription to generate extra revenue.
This strategy is perfect if you plan to run a library of premium content and have a community of passionate members. Paid digital subscriptions can create an opportunity to monetize your current content marketing efforts.
And since the content is locked and only paying subscribers can access it, you can also host exclusive content than can be streamed.
You can use SkyPilot as your digital delivery system.
Sell Your Music or Art
If you are an artist or musician, chances are you’ve found ways you can monetize your skills. While prints and t-shirts are always a good option, there are many possibilities when it comes to digital downloads.
As a musician, you can sell ringtones. As an artist, you can sell phone wallpapers. The good thing is that you don’t have to hold inventory meaning you can experiment with various formats to see what people want.
Sell Your Services
Services pair well with digital products. Also, customers usually receive digital products as part of their purchase. For example, a personal trainer may deliver a monthly workout plan, a designer may deliver logos. You can position services as packages including valuable digital goods.
You could offer a consultation free of charge, personalized reports, and upsell your customers on other products or services. You could offer a downloadable product free of charge to generate new leads for your email.
There are many options and opportunities to take advantage of.
Without the need to hold inventory or the costs associated with selling physical goods, businesses selling digital products can be launched with little risk. With a little creativity, you can create your own digital products and add them to your business.