Do you remember the last time you went to the theater to watch a movie?
We hardly remember that! And, after the COVID outbreak, this monumental event turned rare. Even the hardcore fans of movies are now habitual of binge-watching over Netflix, AmazonPrimeVideos, Disney Hotstar, etc. With the sudden shift of this viewership & hike in the consumption of online content, digital became a new opportunity for business minds.
The ease of distribution of content is one of the primary reasons to launch a digital product line. So, if you are quizzical about digital products, let me brief you a bit more about it.
A digital product is a non-physical product that a viewer can download directly or view online when purchased or subscribed with. It entirely depends on the pricing model that the company has opted for. The best thing about digital products is that they can be sold to multiple users without having you worry about the inventory once created.
Now, let me tell you some of the crazy benefits of selling digital products online that may inspire you to start your digital product line.
- Lesser investments, better outcome: When you have no inventory, you will save on the warehouse’s expenses, product packaging, and logistics. So, you will be investing your time and money only once while creating a digital product or partnering with businesses to sell their existing digital products online.
- No returns: Digital products are for instant consumption, and there is no return policy at all for these products. We know businesses lose a large chunk of their profits on product returns to ensure customer satisfaction. Being in the digital product line, you save largely with zero returns.
- Deliver instantly: Once paid, customers can download the product and use it instantly without having you worried about the product deliveries or lost packages. You will never run out of inventory and won’t lose any of your customers in peak season for over-selling issues.
- Infinitely scalable: There are no restrictions upon you about the number of products you can list or sell. You can diversify your niche and sell a variety of digital products in your store.
- Opportunity to connect: With digital products, you have infinitesimal options to build a better connection with your customers. You can share monthly newsletters & give some freebies to get more subscribers to your email list. Digital opens a gateway of growth opportunities for business & to boost your revenue.
Wow! Now, that sounds great, especially when you compare it with the hassles of selling physical products online. But, if you are thinking alike, you definitely want to get an idea about the digital products that you can start with.
|What’s more you will find
Top 6 Digital Product Ideas To Start Selling Online
Remember, the ultimate goal of your business must be offering anything that adds value. While deciding on the products to sell online, that’s what you must keep in mind. When you offer the things that people are somewhere looking for, you need not find the customers; they will find a way to you on their own.
Here are the top 6 digital product categories you can experiment with to start your digital products line.
It’s an amazing idea for aspiring writers of any domain. However, from ‘writer’ to becoming an ‘author,’ it is a long journey. ‘Being published’ is a blissful feeling which is accompanied by a lot of rejections.
But what if you don’t have to go through that loop at all? Yes, you can open your online store and start selling ebooks of any genre you like to write. It’s your platform, and you can sell on your own terms without actually asking anyone to publish it. Of course, your idea of writing & selling ebooks entirely depends upon your imagination. If you are a techie, you can write about technology, academicians can start with journals, cookery experts can think of selling recipe books, and marketing geeks can share practical tactics to grow and market businesses.
Stats by Statista says that ebooks are one of the major information products that people buy online. The projected market volume of ePublishing will hit US$33,128m by 2025. So, if you are the one who can do magic with words, this idea is worth your time & efforts.
- Audios & Videos:
Don’t you find yourself watching the reels, enacting the changing social media trends, and liking some of those songs you initially hated? I bet you agree here, and that’s the kind of impact this digital content has on each of us.
In 2021, videos accounted for 82% of global internet traffic. Audios & videos are great ways of storytelling, and it helps you better connect with your audience. You can consider selling your songs for audios, creating instrumental covers, sheet music, sound effects, or maybe presets.
Unlike audios, video content gives you more ideas to experiment with. You can chase your inner artist to make & sell short films or documentaries to invoke messages to society in an entertaining manner. Animators can try hands-on video animations & cinematographers can create stock videos.
- Digital Art
When a brush and a cursor collide, digital art gets life. Technology is everywhere now, and nothing is left untouched in this row, not even the art!
For the creative & artistic brains, digital art can be a good start. It’s quick to learn, time-savvy and has less execution time. Making a wall of Mandala art may take 2-3 days or more, but you can complete the same work on the screen in half the time. Being a digital artist, you don’t have to carry a huge kit of brushes, various colors, and different types of sheets with you anywhere; carrying a laptop & iPad is definitely a handy option. Draw wherever you want and whatever you want, make money selling your artistic designs.
With your talent for digital art, you can create customized gifts, try your hands on branding services, create & sell printable coloring books, add 3D models, to mention a few ideas.
Here is a call for professional photographers, cinematographers, and aspiring lensmen. Either it’s your hobby or a passion, you can take it seriously and consider this opportunity to discover a new side of your creativity. You may get into a wedding photography business or be a wildlife photographer; you never know what’s actually waiting for you ahead in your life unless you give it a try. If you have the art of capturing moments at the right time, the photography business can be a calling for you. You can use your skills to sell stock photos, mockup images, lightroom/photoshop presets.
- Software & Tech
Needless to say that technology is an ever-growing domain. Today, you can’t imagine a day without your smartphones, and you hardly remember the count of apps or software you use regularly. With your coding skills and imagination, you can create and sell apps, gaming software, plugins, website themes, hosting plans, and zillions of other things relevant to the technology domain. Following a subscription-based & freemium business model, you can flourish your digital selling business on the web.
You can grow the reach of your ebook business by adding your audiobooks to the store. Audiobooks can help you make more profits by reaching a different segment of your audience. Your stories and content can make a better connection with your audience when you deliver it with the same sentiment you invested your energy into writing them. Even the non-readers can likely be your readers with audiobooks.
These are just a handful of digital product ideas to inspire you to think in this direction. If you find any other out-of-the-box idea to sell online, research its potential, and give it a shot.
Create your Online Store Free
Now that you have an idea about the digital products you can start selling online, it’s time to open a store.
Are you worried about the technicalities? We understand you must be having hundreds and thousands of questions regarding the right time, expenses, workforce required, and so on.
Don’t be nervous; Builderfly has answers for all of your concerns. The good news is creating your online store is absolutely FREE! With Builderfly, you can take your first step in building your business without worrying about the technical aspects. It is a DIY ecommerce platform exclusively designed for business enthusiasts who want to start selling online.
Being a digital product seller, you know little tidbits about technology. But, creating your online store with Builderfly is as easy as opening your Facebook account. So, you can literally take your business online by signing up on Builderfly within 60 seconds.
Go to the build section of your Builderfly dashboard, navigate to the website and get your online store ready. It is as easy as it sounds; register your digital business now and try it for yourself.
Learn To Price Your Digital Products
Once you have your store ready, the next step is to upload your digital products to create your product catalog. Though it’s easy, you can check our step-by-step user guide if you feel stuck anywhere in the middle.
When you sell any digital product that’s already in the market, you can simply list it with competitive product pricing. However, it gets really tricky to price digital products that you’ve designed/created. For example, you might have spent 15 days writing an ebook or 6 months creating some software. You can not actually price digital products considering the time you’ve invested in getting a final product.
- Cost-based pricing: One of the most common pricing practices is cost-based pricing, in which you calculate the money you’ve invested for making the final product, add overheads and your profit margin to decide the final price. For digital products, you can consider the software and devices you are using to design a product. However, that idea turns vague when you talk about pricing for a single product.
- Value-based pricing: With value-based pricing, you explore your competitors, compare your market value, and decide your product’s price based on the value your product is offering to the customers. In this case, your brand value makes sense while pricing the product. Let’s say Neil Patel sells an ebook on marketing for $99, and if you price your ebook for the same price, your audience may not shop yours. If you price it for $20, people shop, as it costs them equivalent to having coffee at some nearby mid-sized cafe. Don’t think that you are under-valuing your products. It’s just that you have to fulfill the customers’ expectations first to raise your prices and increase your profit share.
- Pricing tactics: Regardless of the pricing model you choose, justifying your quoted rates ain’t that easy for all of your customers. Businesses often use different pricing tactics to lure customers into making sales.
- Psychological pricing: You remember $9, $99, $999 prices draw more conversion than $10, $100, $1000, and so on. It seems silly if you think about it, but that’s a psychological pricing tactic that even brands use. When you shop online, you often find one of the prices is canceled with a strikethrough, and a slightly lower price of the product is mentioned. Amazon also highlights this fact of discounted pricing displaying the percentage of the amount you are saving on the deal. That’s another pricing tactic that you can try updating on your online store.
- Power of Freebies: No matter what, people are in love with freebies! You can literally use this tactic to grow your email marketing list, as several digital product sellers are doing the same. The freemium pricing model is one of the most used business models among entertainment selling businesses. When a user subscribes free for a month or 7-days, they often end up using it at least for a month with a paid subscription. Leverage the power of freebies, especially in the initial days of your online business.
How To Boost Your Sales Online?
You have your products live in your store, and you start getting orders; that’s fantastic! But that’s not it. You actually have to put your efforts into bringing more customers and boosting your store’s conversion rate. Use marketing tactics like time-based discount deals to steadfast conversion through your store. However, we know you can’t always keep playing with the product’s pricing for conversions. So, here we are talking about some of the ideas you can use to scale and grow your business.
- Understand your store’s Analytics: Know the performance of your online store with Builderfly analytics and Google analytics. The analytics will help you understand the journey of your potential buyer when they visit your store, the sections of your store that interests them, and challenges if they are facing any while shopping digital products at your website. When you know the loopholes left, you can fix them instantly and save them on the abandoned carts. Decide your conversion goals, set them up on Google Analytics, and keep track of conversion rate. It helps you measure the success of your campaign and marketing options to attain the goals you’ve set.
- Social selling: Social selling is one of the most approachable ways to sell digital products online. The reason is pretty obvious; selling on social media is like shouting about your products in the prime location market of your region. Most of the digital products are linked to entertainment, and that’s what people are there on social platforms for. You can connect with people instantly on social platforms and understand their requirements much better than you can while selling on your website. You can take your digital products’ store live on Facebook with a click with your Builderfly store to let your followers shop from you without any delay.
- Sell globally: Sell your digital products online on Google Shopping across the globe and earn shoppers’ trust. Selling your products on Google and quick and easy with your Builderfly store. Set up smart shopping campaigns to reach your potential buyers in all the countries without any second thoughts about shipping norms and rates. Raise the value of your business by selling your digital products on Google.
- Web optimization: Knowing your shoppers’ journey, you can optimize your store. The store optimization includes different factors like SEO, technical aspects of web optimization like speed check, broken link fixes, URL redirects, etc. Optimization improves the overall experience of users on your website and helps you attain your business goals. It improves your ranking on the web, aids to user engagement, and ultimately gets you better traffic on your digital products store. The quality traffic will likely convert and grow your net sales.
- Launch your app: Shopping turns quick & easy on the mobile app. Design and launch your shopping app with Builderfly and make your digital products’ shop handy for your customers. We have an interactive design editor with which you can shop your mobile app in your way without writing a single line of code. Add your personal touch to your digital assets and make your business reach a broader range of audiences.
Create your digital brand
You can speak to your customers with your online store. Utilize the power of storytelling to do so. Branding goes hand-in-hand right from the start of your business. Style and maintain the visual identity of your business with our intuitive design editor. You can change the appearance, tweak typography, and add all the media elements of your choice to gain more traction for your business.
In the digital ecosystem, you have to maintain a consistent design approach across all the digital platforms. It includes your online store, your shopping app, social media channels, marketing platforms, and physical shop, if that exists.
Unlike physical products, digital products are more prone to be copied. That’s why branding is a must for you to keep the right of your creations and save your business from pointless allegations.
When you are branding your digital product’s business, make sure that you keep your primary message intact. Highlight only what you mean and don’t sell it in a package of fake promises. Your fans/followers/customers will automatically connect with your offerings when you honor your words and values. Use your brand’s logo or business name’s watermark while selling you digital products like ebooks. Web template sellers often add the uneditable section of name and backlink in the footer to ensure they get payback for their designs. You can add attribution links to the stock images or photographs that allow customers to shop online if used multiple times.
You can start your digital business today and consult branding specialists later to have a thoughtful branding strategy to make your brand stand out. Then, you can come to the Builderfly store anytime to style your digital brand in your way.
Conclusion: Take your first step without worrying about the hassles
Having read everything you need to start an online business, do you know what’s actually daunting?
It’s the first step!
You can’t be a successful entrepreneur without taking the courage to start it today rather than leaving tomorrow. You may not have 2-hours to sit today and continue with your digital business idea, but you can take the first step today and make time to understand everything about your business tomorrow. Success needs consistency, and you can make the impossible happen only when you start.
So, leave all of your worries aside and take the first step of registering your online digital store now!
Wish you all the luck!