How to Create and Launch a Profitable Digital Product to Sell Online Fast - Investadisor (2024)

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How to Create and Launch Digital Products

Creating digital products is one of the best ways to earn money online fast. How to create digital products to sell online is a combination of skill, research, opportunity, passion, and experience. The market potential for digital products is huge and continues to grow. Mainly due to the sharp rise of people working from home caused by the pandemic.

The post shows you how to create easy to use online digital solutions for your everyday problems. With creative marketing, many entrepreneurs are venturing into this profitable business space.

What is a digital product?

A digital product is a service or product supported by software and that provides some kind of utility to its user. It doesn’t need to be replaced as it doesn’t run out like a physical product.

Digital products can be distributed easily and are more sustainable than physical ones. A good example of a digital product is this article.

Creating a digital product doesn’t call for much in terms of investment. One just needs a computer, some spare time, and motivation. Digital products are a good way of generating high-level income.

What are the benefits of creating digital products?

Low overhead costs

With your digital products, you won’t incur any shipping or inventory costs. They also involve little manufacturing costs.

High profit margins potential

Since the products are made once and sold repeatedly, they won’t cost you any extra charges. Moving on, most of your sales will be retained as profit.

Flexible products

The growth of digital products is somewhat flexible. Scaling up your business is easier and faster. The result depends on what you as a business owner want your product to be.

Potential to automate

Almost every process involved in selling digital products can be automated. This gives you the ability to fulfill orders without even moving your fingers.

E-learning is the future of education with Covid-19

As a result of the pandemic, there have been dramatic changes to the education system. Teaching is now carried out remotely and as a digital product. There are both free and paid e-learning resources available for learners across all levels.

Ability to sell them everywhere

With any online business, reaching a global market is just a click away. Digital products can be sold in any corner of the world. Being able to reach a wide market makes selling digital products an appealing venture.

• You create a digital product once

The products can be distributed to numerous consumers an infinite number of times. There is no need to replenish inventory at any given point.

• Generate passive income

Digital products are good passive income earners that only require you to set up your brand and make it known. Luckily, the internet is there to help. The vast online visitors will see your product and purchase it without you having to find them physically.

Related: 11 Best Digital Products that are Super Easy to Sell

How to Create Digital Products – Challenges faced by digital products

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• Competing with free products

Most digital products have alternatives that are free to access. This doesn’t mean that your paid product won’t thrive in the midst of these free products. To compete with them, ensure you offer a unique solution that blends outstanding features with creativity and usefulness.

• Competing with YouTube tutorials-how to create info for products

It is very likely that a free version of what you offer exists on YouTube’s giant collection. As the case with free products, there is always an area to improve on.

Capitalize on what the owners of the free tutorials overlook and bring in your creativity to shift their audience’s attention to you.

• Risk of piracy/theft

Digital product sales are threatened by the risk of piracy. These risks need to be mitigated by taking appropriate precautions. There are a number of ways to protect your digital property against infringement of copyright.

• There are restrictions on how you sell them

Platforms set aside to help you sell your products have a unique set of rules that govern business conducted on them. Some platforms may make it difficult for you to use your online store to market your digital products.

Related: 32 Easy Ways to Earn Money Online Without Investment

How to Create Digital Products – Process to create digital products to sell online

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Brainstorming

This involves creating a focus group and using it to conduct competitive analysis. It is good to come up with a few ideas and then ask yourselves some questions. What will help build a better experience for our consumers? Can you demonstrate how your product works?

What kind of ways can we use to bring our customers together as a community? Are there ways to engage our customers with relevant information from the industry at large? What are we really good at?

Research

The list of ideas you came up with could do with some research. Find out the topics that drive interest in your target customers. To get started with your research, attend industry trade shows, workshops, product launches, community meet-ups, and conferences.

Validation

It is wise to find out whether your ideas will be profitable. Validate your desired ideas to discover how solid they are. You could research existing demands, physically meet your customers to hear them out, or use google trends to find out topics that derive a lot of interest.

Related: 8 Best Investing Apps For Beginners To Grow Your Money On A Small Budget

How to Create Digital Products – Steps to create a digital product to sell online?

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1• Critically Review Customer Product comments

Tap into product reviews to discover what consumers think about certain products and services. Products that have more positive comments tend to attract more customers.

Negatively rated products could also point out areas that could be improved in a particular product. Such pointers are useful in identifying the type of digital product to sell online.

2• Think outside the box

There is a wide range of products that can be sold in digital form. You could sell art, photography, eBooks, digital cards, unique fonts, music, games, printable art supplies and so much more.

Choose a product that is aligned with your strengths and one that will enable you to get income by selling it. If you have a variety of products that fall within this category, more people will buy from you.

At first, it might seem hectic, but as you make more sales and get more positive reviews, people will want to buy from you. Take time to build your collection and it will get simpler with time.

3• Read blog posts and comments

Find out the blog posts that your community is reading about. What comments are they leaving? This will give you ideas on the type of digital product to provide for them.

4• Heed Customer Emails

You may have received numerous emails from your customers over time. Consider looking into them as they may have been from customers with great intent. Such customers who took their time to contact you may have stated very useful information capable of guiding you in choosing an appropriate digital product.

5• Follow Niche FaceBook groups

Niche Facebook groups are underrated product marketing techniques that can provide insights into what the market needs. They help you network with customers and give you solid ideas of products that can perform well and bring in considerable income.

6• Keep up with industry trends

Working with popular products is likely to bring a huge customer base. Follow the popular trends as they will give you ideas of products that can sell fast.

7• Review your industry forums

You can learn more about what consumers want by following forums passionate about communities and their hobbies. Look for forums related to your particular industry at large to get such clues.

Types of digital products to create and sell online

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1. Stock Photos

Premium photos are one of the most desired digital products nowadays. Website owners and bloggers alike are eager to have high-quality photos on their content and will go the extra mile to acquire them. You can command a decent price by selling your premium photos on sites such as iStockphoto and Dreamshine.

2. Recipes/Meal Plans

Are you a great cook with unique recipes? Why not sell your recipes online? You could sell them on Etsy or online magazines. Meal plans can also be sold on freelance websites such as Upwork, Craigslist, Blogging Pro, and SimplyHired.

Better yet, start your own recipe blog to capitalize on food enthusiasts who hunt for creative recipes online.

3. eBooks

eBooks are great ways of sharing information with the masses. Preparing good ebooks involves putting relevant information accompanied by pictures and little else. They can be distributed easily via online stores and large-scale enterprises. Your customers can read them on mobile phones, computers, tablets, and e-readers.

4. Tutorials

You could sell some of your valuable content to an online audience. Differentiate what you offer so as to retain your customers. Give reasons why they need to buy your product and not any other offered by your competitors on other platforms. Sellfy is a great avenue to start selling your tutorials.

5. Artwork

Graphic designers can exploit their skills to make digital artwork such as PowerPoint themes and logos for sale. Digital artists can profit from selling their sketches and finished drawings on their blogs.

Once you settle on the varieties of artwork to deal in, protect your work with relevant copyrights.

6. Printables

Consider selling wedding planners, monthly calendars, and fitness trackers online. Such printables can make good passive income for you if sold on sites such as Etsy and Gumroad.

7. Website themes

If you are good at creating themes, why not sell them for a great price? Website themes can be sold at ThemeSnap, PressCastle, WP Eden, and Themeforest for a considerable amount of profit.

8. Email Courses

Email courses are a good way of gaining trust and confidence with new subscribers. The courses are a series of emails sent out to your audience periodically. Courses that give relevant information are good sellers and therefore good digital products to sell online.

How to Launch a profitable digital product

The Pre-Launch Stage

It mainly involves events you do weeks or several months before your product launch which includes tweets, Pinterest promotional pins, emails marketing to subscribers of the upcoming new product launch.

Hire product reviewers

A few weeks before digital product launch hire people to test or review the digital product. You can offer them free or deeply-discounted access. Get them to provide good or bad feedback and honest suggestions. Make sure you heed their suggestions and make necessary tweaks to it.

Get testimonial especially video that helps people to feel at ease when purchasing the product on launch day.

How to Create Digital Products – Digital product Launch Day

Start by generating a buzz weeks before launch day by emailing your subscribers, promoting the product launch date on your website and all company pages. Offer them a special launch day discount offer to stimulate initial sales. Tell them the features, advantages and benefits of the product.

Use instagram influencers, and established bloggers in your space to reach out to their email subscribers about the product launch. Establish partnerships with other brands who have a bigger customer base than yours in your space.

Utilise paid facebook, twitter and Pinterest advertising. Also, sell directly, from Pinterest and facebook page if you have a huge social community. That will boost your initial conversion rates.

Post Product Launch Day

Do a product launch post mortem by looking at what worked, and what didn’t. How was the conversion rates, overall sales from all the channels that were used, how much traffic did your sales page get, and reviews from product testers.

Start by generating a buzz weeks before launch day by emailing your subscribers, promoting the product launch date on your website and all company pages. Offer them a special launch day discount offer to stimulate initial sales. Tell them the features, advantages and benefits of the product.

Use Instagram influencers, and established bloggers in your space to reach out to their email subscribers about the product launch. Establish partnerships with other brands that have a bigger customer base than yours in your space.

Utilise paid Facebook, Twitter and Pinterest advertising. Also, sell directly, from Pinterest and Facebook page if you have a huge social community. That will boost your initial conversion rates.

The process how to create digital products does not end on the launch day. It is an evolving process with non-stop product and process tweaks.

In Conclusion – How to Create Digital Products

There really isn’t a definite limit to the opportunities held within the online market space. There are so many ways on how to create a digital product. Use your existing knowledge and learn how to develop digital products.

The key to establishing a successful digital product line is evaluating your options, opportunities, taking advantage of your experience, and deciding the right products for you.

The potential to create a profitable online digital product is massive why do you develop one and claim a piece of the revenue pie.

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