Digital Products You Can Start Selling Online
Digital products have become the wave of the now and the future. Is your business utilizing them in its model? If not, you could be missing out on a lot of profit, position, leads and recognition. Keep reading to find out what types of products are included in the digital information arsenal.
Here is a little disclaimer. Don’t view digital products as the “golden goose” of your business. They are described as “passive income” but that doesn’t mean that there is no work involved. Different digital products take time to create and a specific set of tools to create them. If you are really serious about getting into digital products, the knowledge you gain as you go through the learning process will become invaluable throughout the life of your business enterprise.
With that said, let’s dive into the world of digital products and what they can do for you.
8 Digital Products for your Business
EBooks – Let’s get the most obvious one out of the way. EBooks have come a long way since their inception. Create ones that you can sell on your website or other sites. That involves enticing snippets from the book, inventive marketing and a design that appeals to your market.
Audio – Listen and you shall hear. Audio files can be used to deliver podcasts to your website, to your membership site for paid members, audio courses and other types of instruction for your customers. What you provide depends on your specific business niche.
Video – People are visual learners. Reading content is good but seeing also is even better. Video can be used for tutorials, marketing your business, creating commercials, web seminars and classes. The possibilities are endless.
Workbooks – Has a customer previously bought an eBook from you? That eBook can be leveraged to create a workbook that allows the customer to instruct others to get the most out of the book. Workbooks are great for companies and community groups to share your information.
Content – Blog and website owners need something to keep their readers interested. If you run an e-commerce site there doesn’t seem to be enough time for marketing, networking, relationship building and the rest. Turn your eBook or e-courses into a series of blog posts or articles that could be packaged as PLR content for sale.
E-courses – Break down your knowledge and instruct others in what you know. Courses can be either stand-alone or work as an integrated unit.
Newsletters – Use your expertise to put together newsletters for your readership. These can be offered as an opt-in or for sale to be used by others on their websites.
Presentations – These can be slideshows or even info graphics. Take a certain type of information and put it into a format that can be used to reach a large group of people all at once.
What digital products are you considering for your online business? Before you put pen to paper, do some research first.
Do All The Research First
You have an idea but the idea alone won’t get you very far. Just because you think its good doesn’t mean that it will have an audience. In that vein, research is extremely important when it comes to making sure that you are not throwing good money after bad. Here are some tips for researching your ideas.
Online businesses fail for many reasons. One reason is probably that the ideas just didn’t fly. There wasn’t a market for the idea within the current niche, the marketing was off or the product didn’t promise what it was said to deliver. These are only a few but whatever the cause, it means lost money for your business and a disheartening blow for you personally. Hopefully, this can be avoided with the information we can provide here.
It all begins with asking the right questions. The answers direct your research. Here are a few questions:
What is the product that you want to create?
Who is the target market specifically?
Are there other products similar to mine already on the market? How are they selling?
Can your product stand the test of time?
Who is the competition?
What price can be set for this product?
Digital products do require some work on the front end to get them from start to finish. Depending on the format for this product, it is wise to research the “how tos” and “where fors” of using this technology effectively for your needs. There are different types of software tools available and some are easier to use than others. Because you know your needs, one item may appeal more than another. Then, learn how to use it.
Refine your target market. Appealing to everyone is not the way to go. Stick with one segment of the market and see if there is actually a profit to be made. Poll your current audience to see what they think about a product of this nature. Google some keywords that are specific to your product. Analyze the keyword results by clicking on the top search results as well as the ads on the side that come up with the results.
Those ads on the side represent some products that are currently available within your niche. Click through to the ads and see what it being offered. Research the companies to see what is being said about them online and offline. Examining trends can give insight into where the niche is going. Does your idea fit with the trends? If so, it may stand a good chance of surviving the changing winds of customer and industry opinion.
There are several research tools that help you analyze data. Utilize them to gauge keyword viability just like you would for your website.
Research can save a ton of heartache and dollars further down the road for your digital product creation.
Creating Products That Sell
Digital products are no different from physical products in their need to be promoted in order to sell. If no one is interested in the product it doesn’t matter if it comes to you in a box or as a group of gigabytes. Here are some tips to help your products to sell well from the beginning.
We know you don’t buy into the myth that simply having a website or creating a product will make you rich and famous. Good. We can move past debunking and go right to the heart of the matter. How can you ensure that your product will connect with the audience in question and sell? There are no guarantees in life but you can tip the scales decidedly in your favor with some excellent advice.
5 Tips to Get your Product to Sell Well
Build relationships – The people who will buy your product need to be convinced that it will be beneficial to them. When you connect with your readership they learn to trust you. This can be done through email marketing. Stay connected to them with updates about the project and with your business in general. Accept their suggestions and try to incorporate them in your business. Respond to comments on your posts and interact with your readers.
Gain advice – This comes from other business owners. Offer advice in your area of expertise but also ask for it to make a stronger connection with your product and your customers. Attend conferences and other business functions to increase your knowledge and to network as well.
Create a quality product – Use all the tools at your disposal to create a digital product that is both informative and appealing. Make sure you’re formatting is correct, the images are appropriate, the font is right and the ideas are sound. Test everything until the final product is just what you imagined it will be for you and the customers.
Create a sales page – Sales copy takes a particular skill to write. You can learn it or hire someone else to incorporate your ideas into a cohesive and engaging page. Include all the reasons why your product is important and what benefits it will have for the customer. Offer product previews so customers can get a snippet of what the actual product is like.
Use customer reviews – Add reviews to your sales page that come from people who received an advanced copy of the product. Encourage those who buy from you to write reviews as well for others to read. Customers are more likely to trust reviews from other customers just like them.
Getting a product to sell begins with the little things that are done before you offer it for sale.
Monetize Your Digital Product Ideas
Information products are big business, even if you own a brick and mortar shop. Digital products can be bought and sold easily so that the buyer doesn’t have to wait weeks or pay extra for quicker delivery. If you are looking to make money with these types of offerings, here are a few ideas to do so.
How will you get people to buy from you? It’s the same question that those who sell a physical product ask. Think about going into a grocery store. There are products that you buy regularly and those that are unfamiliar. You might want to try them but don’t know how they taste. Chances are you might not buy them unless they are on sale.
One solution is for the store to offer you incentive. A Buy One, Get One Free offer might entice you to try a certain product. Another option is taste testing. Stores that have booths set up to allow customers to try certain foods provide that incentive. You get a free sample without any obligation to buy. If it’s good, you might consider it. This free tasting is often accompanied by a coupon to sweeten the deal.
The same model works online. Free digital products of good quality are offered in exchange for opt-ins or as contest prizes. Some are tied to further offers to buy at a discounted price. But what comes after that?
Monetization Ideas for your Information Products
Leverage the product – That free product might have been a special report. The information in that report can be added to and turned into an eBook. It could then spawn a workbook, instructional videos, audio guides with transcripts, webinars and more. It will take time to create the new products but the ideas are already thought out.
Membership site – Do you have an idea that can help a lot of people? Create a membership program. Certain information can be received free just for signing up but payment is needed to gain access to other digital products that are considered “premium.” Products can be uploaded automatically to the site for access when a paying member logs in.
Affiliate programs – Create an affiliate program and enlist the aid of others to help sell your products. In exchange, they get all the tools they need to promote it.
Product reviews – Create videos that test products related to your niche market. For example, if you are in the food niche, create videos using certain items for your recipes and then report on how they work.
Ads – Increase visibility with ads on Google search pages that promote your website and your digital products. Ads do cost but you set the parameters for the ads so an advertising budget can be set.
Email marketing campaign – These still work and well if you have a good relationship with your list. Offer useful information in combination with deals for further purchase of products.
Even if you have one information product created, it can be used to fuel further monetization ideas for your business.
Ok so that’s all I have for today on creating and selling digital products online. I really hope that gets your wheels turning and you start creating an online digital product business for yourself, I can be very rewarding when you start seeing those sales coming in! For More Great Articles About Creating Your Own Online Business, Visit,https://lurnprofit.com/blog-post-2/
To your great success on your online business journey, Bob@Lurnprofit