Creating and selling digital products is a great way to boost your business' profitability. As more people spend time online, they are continually looking for content which interests and helps them solve a problem. Your digital product could be the solution to their problem, and one they'll be willing to pay for.
From smartphone apps through to eBooks and videos, there are endless possibilities available for you to create and sell digital products from your website. Today we're going to walk you through the process of choosing the best type of digital product for your business, and tips on their creation.
7 Types of Digital Products to Make & Sell
There are plenty of different types of digital products your business could create and sell from your website, including:
- Written - while eBooks are the most well known, other examples of written products include newsletters, templates, worksheets, blogs and reports.
- Video - whether you feel confident in front or behind a camera is irrelevant: anyone can make and sell a video. You could present a webinar, share a screenshare or make a slide show of pictures while you record audio to match it.
- Audio - think audio courses, lectures, podcasts and guided meditations. People love being able to multi-task by listening to something while doing something else.
- Stock photography - if you have great photos, people will buy them.
- Digital artwork - a good side line for graphic designers is to make and sell digital art.
- Patterns - if you knit, sew or crochet, why not make your own patterns and sell them online.
- Games - if you're a coder, make and sell online games.
We asked the members of Business Networking NZ's Facebook group if they had any examples of digital products they'd like to share with us. They include:
- Misfit NZ - Nikki created and is selling an online fitness program via her website
- Kreative Kiwi - Heather digitises and sells machine embroidery designs via her website
How to Choose Which Digital Product to Make & Sell
The types of digital products listed above may have sparked some ideas regarding what you will create and sell. But like with all products, before you start anything, do your due diligence first. This includes:
- identifying the specific niche for your product - nail down the exact niche you want to sell your product for. Like with a physical product, a digital one still needs to solve a problem for the customer.
- researching the product niche - spend time finding out who your competition will be, what they sell and how customers respond to their products. Ask your target audience what type of digital content they would pay for and why.
- brainstorm product ideas - you've seen what's happening in and what people think about digital products in your niche. Now is the time for you to take on board these observations and opinions to create a list of possibilities for your business. Remember that a product needs to solve a customer's pain point in order for them to purchase it.
- test your preferred product idea - there will be one idea which reaches out to you and still seems viable after your research. Write out your ideas more fully for this product and then once again, take it to your target audience for feedback.
Tips On Creating Digital Products
You've confirmed the digital product you will be selling, making now the time you need to start creating it. While you do though, there are a few things you should be doing which will help you sell it. For instance, you need to be spending time building up your newsletter subscription list so you can promote your upcoming product. Secondly, create great free content on your site so potential customers can see the value of your content - a bit of you try before you buy.
Here are our tips on making digital and downloadable products to sell from your website:
- appearances matter - just like with physical products, how your digital product is presented is important. The problem is though, it's digital, not physical. This means product photos are out. Instead you'll need to rely upon a mock up of what the product contains (templates, photos etc), a cover, people using the product and lots of custom designed graphics.
- DIY or outsourcing - making the product yourself is going to be the cheapest option. If you can, use the skills you already have, and if necessary, learn how to do the ones you need by don't have. Outsourcing what you can't do, or don't have time to do is also an option.
- test and test again - ask friends, colleagues and your target audience to test out your product and give feedback upon it.
- revise and test again - take the feedback you received to once again edit your product and make it perfect.
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