Here at SecuraCart, we’re constantly monitoring the types of products that are profitable and selling online. With the rise of web-based stores like Shopify, more entrepreneurs than ever are building brands around their passions.
Selling physical products on your website has some major drawbacks that make it clear why digital products have become so popular. Besides managing the costs and headaches associated with keeping inventory full, as well as compliance with local taxes and laws, physical products also must be shipped to the end customer which tends to make the pricing of physical products much more expensive.
If you’re like me, it’s pretty easy to see the major benefits of creating a digital product to sell in your business. In fact, the potential to have something to sell within a week or two of work is a very exciting proposition.
When you create and sell a digital product, the concept of inventory is completely removed. You have infinite scalability when it comes to delivery, leaving you ample time to focus on sales and marketing - you know, the real stuff that drives business.
Anyone with a computer and some motivation to grow a business can create and sell a digital product that is unique and can be distributed wherever your audience is.
Today we’re going to dive into 9 digital product ideas that you can use for inspiration to start your journey towards creating a digital product to sell in your business. As you read along, write down any ideas that come to you so you can get started and bring your ideas to life.
eBooks are the “original” digital product and continue to be one of the most popular choices for monetizing a product online. Not only are they easy to create from a business perspective, but they are easily consumed by customers. If you have a lot of technical expertise, creating an eBook is a great way to offer a valuable resource that you can sell alone, or give away to create authority in your niche.
Getting started with your eBook is as simple as opening Google Docs and starting to write. If you’re not very technical, don’t worry about design and creating graphics just yet - these things are all easy to outsource once you have the “meat-and-bones” of your book written.
One of the best things about writing an eBook vs publishing a physical book is that there is no real required length you need to hit. If you have a 30 page eBook that truly offers value to your customers, there’s no reason you can’t sell it for the price of an Amazon bestselling novel. The truth about all digital products is this: if it is valuable to your customers, it will sell. Focus on creating a helpful resource and avoid the temptation to worry about the number of pages, pretty graphics, and cover design.
Learn more about about eBook publishing in this great article from Self Publishing School
Selling software is a fantastic way to offer something extremely valuable to your customers in an easy to download package. TK Kader the creator of Unstoppable Sunday said it best:
The main selling point of software is that by using X you will be able to do Y easier/ better/ more efficiently. There is a clear value proposition aligned with your target audience. Another major benefit of selling software is that recurring revenue (ie monthly payments) is very common, which makes all the difference when trying to scale a company.
For example, If you can manage to sell 20 spots a month while retaining 18 of them, the next month you’ll have 36 users, and the month after that you’ll have 54 paying users, and so on. Are you starting to see why this is one of the most profitable digital products to sell?
When thinking about what kind of software you want to create, you should clearly identify who your audience is, and the problems they face that you’re trying to solve. It’s important to note that creating software is not a very low-cost option unless you can write and read code. However, if you do have funds to invest in development, finding a high-quality developer to create your dream software can be done relatively easily with freelancing sites like Upwork.
The rise of e-learning in the last 5 years has been incredible, to say the least. Video education has become one of the most cost-effective ways to learn something online, as well as one of the best ways to monetize your knowledge of a subject. Millions of people around the world are now engaged in creating and selling courses with the help of course platforms like Podia, Teachable, Udemy, and the likes.
One of the most attractive things about online courses is the low barrier to entry. You can start with something as easy as recording your screen while you cover topics, to full-on professional video production with instructor interaction. The bottom line is if you’re an expert in your field and are looking for an easy way to get started building an audience and generating buzz in your niche, creating a digital course is a great way to promote you, your brand, and your authority online.
Video has literally taken over the world in the last 10 years. With the rise of streaming sites like YouTube, Vimeo, and the likes, creating and consuming video online is more popular than ever. Not only is video easier to consume than written text, but video advertisements have also been shown to convert to a sale at higher rates as well. This phenomenon has created massive opportunities for anyone looking to create videos or sell video production services.
If you want some inspiration for the types of digital video products you can sell, check out Fiverr’s Video offerings. With a little bit of knowledge about how to do video editing and effects, you could have a profitable business on your hands today. There are thousands of businesses trying to boost their YouTube rankings, create advertisements, as well as social media promo videos - these are all perfect customers for anyone looking to sell video online.
All of these great products to sell and we’ve only scratched the surface. The section above focuses on video editing and production, but down below we’re going to cover an extremely effective way to sell videos: creating video courses.
Selling audio and/or music online is a great way to affordably create a product using the skills and resources you already have. This broad category includes everything from music production, to digital learning, to weekly podcasts.
In general, you’ll see audio files selling for lower prices ($1-$15) to a larger audience. Creating a valuable audio resource that teaches, informs, makes someone laugh, or helps them create music are all forms of value that people are willing to pull out their wallet for. This makes it easy to promote these products on social media or via a larger network like Amazon, iTunes, or Soundcloud.
While professional services don’t necessarily qualify as a digital product, they are often sold in the exact same way. Selling a service is as easy as sending off a payment link after a successful sales call or website inquiry. Any service that can be performed with little to no interaction with the end customer is a great candidate for a potential business. This covers everything from designing logos, building websites, creating marketing materials, performing SEO optimization, and more.
The exponential growth of professional services online makes it a no-brainer to explore this trend in your company. Many different industries have found great success switching from a local mindset to a global (online) one.
Related Reading: COMPLETE GUIDE to Pricing Digital Marketing Services for Your Agency
What’s the number one thing all websites have in common?
Photos. Tons of photos.
High quality, high-resolution photos are one of the most sought after commodities online. And the biggest consumers of these photos are bloggers, businesses, and anyone else creating a website online. While stock photos sites like Unsplash and Pixabay have essentially driven the price of a stock photo to almost $0 (they give them away for free!), major brands and powerful websites prefer to pay top dollar for unique images that help them stand out.
The problem with using stock photography is that 1000+ other websites have your exact image, so businesses that can afford custom photos will often purchase their shots from higher-end sites. This leaves a great opportunity for all of our photographers out there.
If you’re a photographer, there’s no reason why you can’t compete with a high-end stock photography site. Sites like Getty Images sell their photos for prices as high as $300+ per photo. If you already have a personal portfolio online, figuring out how to start selling the license to use your photos would take no time at all. Selling the rights to use your photo library could be a great way to add additional revenue to your photography business, as well as attracting new customers for private work.
If you’re skilled in graphic design, creating a unique and valuable resource to sell online could be a great way to start your business. Not only is there not much overhead to get started, but you can get instant validation of your idea from your audience. These days you’re not confined to just creating logos and custom images for one-off clients. There are countless ways you can provide value through custom artwork.
Every business online is creating and publishing content that requires more than just a stock photo. There are opportunities to help create YouTube video images, user interface design kits, lead magnet templates, custom icon kits, custom animated drawings, and more. Sites like Undraw have taken this to the extreme by offering thousands of custom created artwork for use in apps, websites, and more.
Creating strong and engaging information pieces like whitepapers, spreadsheet calculators, templates, and step-by-step guides can be a great way to start selling a digital product online. You can sell them outright, or give them away to attract new potential customers into your business that are interested in your field. With the option to lock down PDF’s or automatically email them to your customers, you can choose a distribution method that works for your business goals.
Are you an expert in your field with helpful insights to share with the world? Creating a whitepaper or other downloadable resource is a great way to cement your authority in your niche while building up successful ideas to create further products and services. If you’re already creating blogs and resources, take advantage of that and condense your most popular (and valuable) posts into a resource that you can share or sell to your audience.
If you’ve been thinking about selling a digital product online, or on your website, now might be the perfect time to make that dream a reality. Consumers are primed to buy digital products, and new technologies like Apple Pay / Google Pay make it as easy as possible to offer one-click payments while reducing friction during checkout.
Apps, Courses, and Services have all experienced massive segment growth over the past few years, making it a prime opportunity for anyone looking to start a profitable business and succeed online. Before creating your product, spend a good amount of time researching your niche and identifying who your ideal customer is and where they hang out. This will help save you time and money by quickly figuring out if your idea/concept is valuable to your target audience.
Did we miss any digital product categories on our list? Let us know! We’re following the current industry trends in marketing and services, and are on the lookout for any new “up and coming” segments. Are you successfully selling products on your site? Are you interested in bringing your idea to life? Share any helpful insight or comments with the SecuraCart community below!
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