What is a digital product, and why should you sell them? A digital product is any product you sell online that doesn’t have a physical form or substance. They can be a relatively easy way to start an online business with less overhead and investment required.
We share lots of digital products you could sell online and two really important steps to help you be successful.
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1) Knowledge products
Online courses, guides, coaching programs, ebooks, swipe files, recipes, meal plans, planners, and other printables are all digital products that originate from your expertise. For that reason, we call them knowledge products. Knowledge products are a great option for entrepreneurs because it gives you a niche to work within, and that’s whatever topic that you’re an expert in!
2) Technology
Software and apps are great options for something to sell online. The market for software is huge, but it does have some barriers to entry. If you have a novel idea for a program or app but are not a developer yourself, you could either learn programming or work with programmers to bring your idea to life.
3) Art
Another subset of digital products to sell revolve around art. Photography, music, prints of digital or physical art, graphic arts bundles, presets, patterns, or creative writing pieces can all be sold online. And, like with knowledge products, your art style gives you a built in niche that can help you attract fans of your work.
No matter which digital product you choose to sell, it’s important to adopt and keep the right mindset to help you be successful with your new venture. Here are two critical steps for your long term success selling digital products.
Step 1: Create a marketing plan
First, you’ll need to create a marketing plan. Digital products can be easier to create, sell, and deliver than physical products. But, you’ll still need to market your product, and it’s important to build and grow an audience that can turn into paying customers. Make sure you’re leveraging multiple marketing channels with consistent branding. Diversifying your promotion can help you get in front of new customers and create multiple touchpoints that can nurture people down the sales funnel.
Step 2: Prepare for customer retention
And, you’ll also need to think about customer retention. To sustain a business, you’ll need to ideally have recurring or multiple sources of revenue. Creating one digital product can bring in some revenue but will probably not support a whole business forever. This is because it’s hard to continually acquire new customers. So, to address this, make a plan for future products to create and sell to your existing customers or new customer segments. Or, consider offering your content within a membership community to generate recurring revenue.
Are you ready to sell digital products online? If you’re thinking about selling knowledge products, check out Kajabi. It’s the all in one business tool that helps you create and sell information products. You can offer online courses, membership communities, coaching programs, paid podcasts, and digital downloads - plus you’ll get tools like a website, email marketing, automations, and analytics to help launch a true online business.
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