Digital products: The most profitable ones you should sell online
These days, you can buy anything without leaving your home. In the same way, you can absolutely sell digital products while sitting on your couch. In this guideline, we will give you more information about digital products and the most profitable ones for you to consider.
What is digital products?
First, we need to understand its meaning. Digital products are intangible assets. They can be sold without being replenished. In simple terms, digital products are untouchable, immeasurable but you still can make money from them.
Benefits of digital products
Surely, you’ll get money when you sell anything. But what distinguish digital products from tangible ones?
You don’t have to hold any inventory. Sometimes, you totally can make your own digital products from scratch.
Since you neither keep inventory nor invest money, you don’t have to worry too much.
High profit margin
With low cost, needless to say, you’ll get high profit. Moreover, digital products are very sustainable. You hardly need to replenish them. As a result, you can retain the most of your sales
Potential to reach many people.
There are nearly 5 billion Internet users in the world, and this number’s still growing. Thus, you can reach many potential customer all over the world.
Customers can receive your digital products while staying at home. Therefore, with a computer connected to Internet, you can sell your product internationally.
Your order will be delivered instantly. Moreover, there’s no shipping fee needed.
Easier to manage
As digital products can’t be out-of-stock, or in need of replenishing, you can easily manage the inventory.
E-learning is a potential market
During COVID-19, most schools and learning centers shut down. Therefore, people tends to find online course to fulfil their study path. Online learning industry is expected to reach $331 billion by 2015.
Challenges of digital products
Digital products can greatly benefit you. However, you should prepare to face many challenges when stepping in this market
Thanks to magnificent benefits of digital products, more and more people want to join in this industry. As a result, digital selling is becoming more competitive than ever, especially during lockdown.
People might copy your products
One drawback of digital market is people can easily copy your products. To avoid this issue, you should be careful, or use the right tool to protect you digital products.
Some restrictions in selling
There are some laws about selling and advertising on Internet. For example, you have to sell physical products through Facebook or Instagram.
Profitable digital products you should sell online
If you want to start selling digital products, here are some of our recommendations
As mentioned above, e-learning is a potential market, especially during this pandemic. People have to stay at home and look for something to do. Thus, they might find some online course, or e book to fulfill their learning path.
There are many ways for you to do this. If you have expertise or knowledge, you can compose your own ebook. Keep in mind this will require a lot of effort and time, especially when you start from scratch. But the result might worth your try.
Another often is making video tutorial and post it on social media. However, to compete with others, you should make your video different. This is easier said than done.
If you want to attract more prospects, you can try free content or give away to gain people attentions.
License to use your digital asset
This is a common digital products. You can post stock image, video or audio for other people see. If they’re interested, they can buy the license to use those. There are many marketplace for you to post your digital products. For example, Freepik is a popular marketplace to sell your stock images. However, some marketplaces will charge you up to 50% of commission for every sale.
One drawbacks of this is people still can steal your ideas or products. Therefore, make sure you protect your products with watermark or other security measures.
Templates and tools
With the rise of e commerce, templates and tools are the hot topic these days. Nevertheless, to do this, you need to have valid knowledge about designing as well as coding. Here are some example of this digital products
- Mockup profiles for companies
- CV/ Resume/ Portfolio templates
- Software for business
- Fonts, UX Kits for designers.
Similar to other digital products, try to find the best way to secure your products.
You are experienced in music? Then, why don’t you come up with some great beats or audio to sell?
This type of product will need some investments. For example, you need to buy high-quality recording tools for the best outcome. But if you know how to make the great music, you will gain more than you think.
TV shows, videos or film industry are always in need of fresh tunes for their projects. If lucky enough, you can work with them some day.
If you love art, you can find many ways to make money from your talent. For example, you can sell custom or unique T-shirt or clothes. Another one is selling your artwork online.
This is considered one of the most expensive hobby. One main reason is that you need to invest a lot on devices such as cameras and software. On the other hand, this is a great source of income since there’s always demand for it. Here are some Photography digital products examples
- Mockup images
- Stock images
- Lookup tables
Overall, you should sell something you’re good at. For example, makeup artist can deliver great makeup tutorial. Or trainers can offer fitness plans.
When you determine what you’re best at, the only concern is how and where you sell it.
Want to sell your digital products on Shopify?
So now you might want to sell your digital products, but still don’t know how to do this. First, let’s start with choosing themes. Here we recommend Amely – Clean and modern Shopify theme.
Amely is a powerful Shopify theme and suitable for any types of products online. Also, it integrated many features such as Ajax Cart, Wishlist and so on. Thanks to those, your profit will soar more than you think
So, what are highlights of Amely?
- Professional – looking design.
- 8+ unique homepage layout
- 6+ blocks to mix any layout of footers as you want. As a result, you can greatly customize your website.
- Powerful and Section settings. Thus, you can easily manage your online store.
- Newsletter popup.
- Fully responsive design. It can adopt to different devices
Therefore, Amely is a great option when you want to sell your digital products. The power for you to create your dream digital shop is limitless. Why you still hesitate? Install now
How to find the right digital product for you
In the end, the most important thing is finding out the right business ideas for you. Now, we will deliver you some ways to help you tackle this issue
This is the first step. It’s simple, yet important. In this step, you should come up with everything you can, for example, what do you good at, what you want to do or how to do that. Have fun, but only within 40 mins to 1 hour. You shouldn’t spend too much time on this.
After brainstorming, now you might find your favorite ideas. Even when you haven’t decided yet, it’s time to move on this step: researching. After this, you will have an overall view of your digital products. Thus, you will be more confident with your decision
Try to find information about the products as well as the market. There are many ways for you to do your research. Here are some good places to start with
- Facebook: We recommend joining in relevant groups on Facebook. This will help you understand the market and your rivals
- Other social media platforms
- Product reviews
Check product validation
You want to make sure your business idea is valid. See how many people are interest in your types of digital products. Is it legal or not. Otherwise, you might have to drop it after spending too much time on it.
Here are some ways for you to check the validation
- Keyword research: This will help you anticipate how many people are interested in this business. There are many tools to help you with this. For example, Google Trends or Google Analysis
- Ask for feedback: In the end, customer is the center of every business. Therefore, to ensure the success of your business, you can contact customers directly. Send them letter, via email or social media. Another option is setting up poll or survey. However, the result of this method might be subjective due to the limit number of attendees.
- Establish your business deliberately: The best way to validate your idea is putting it in the field. You can learn a lot from real market. However, to avoid dramatic failures, you should start small and then expand your business. This will help you build strong and stable company
We are living in the world of Internet. Therefore, digital products is becoming a thing. If you run this business well, you can make a great amount of money from this industry.
Urging to sell your digital products online? Then, you must contact ArrowHitech.
ArrowHitech is the leading outsourcing IT company in Vietnam. With more than 12 years in e commerce, we confidently deliver you the best quality service, from consulting to web developing. Working with our decade-long experienced developers, you will get your dream website. Also, we sell and develop Shopify themes and Shopify apps. If you’re looking for modern and professional – looking website, contact us here or via email email@example.com or hotline +84 243 7955 813