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If you’ve come across digital products before or if this is the first time you’re hearing of them, this is something that you REALLY need to know. What’s the buzz? Why are digital products always being talked about? Why is everyone looking into this topic lately?
Well, the reason is simple. It is one of the easiest ways to earn passive income from. Passive income refers to earnings that someone makes from something without being actively involved in it. Basically, instead of going to work and getting paid for the number of hours you clock in, you make money even when you’re fast asleep.
Before we dig deep, let’s first find out what digital products exactly are. Digital products are things like online templates, e-books, music files, etc. In simple terms, digital products are products that can’t be touched. They’re intangible goods.
So for example, we have books that we can buy from the bookshop. That book is a physical product. But if I’m someone who doesn’t like to carry books, I can most probably get that same book as a digital product, as an e-book – in the form of a pdf document most probably. This way, I will not have a physical copy of the book but I will still have the contents.
Every physical product starts off as a digital product. For example, the books that we see in stores were actually digital copies before they got sent to the printing shop.
One of the reasons why it’s so important to know what digital products are is because it is one of the easiest ways to make money from. They’re really easy to create and will save you tons of time and effort as well. I will explain exactly how you can make and earn money from digital products in a future article.
Advantages of Digital Products
There are so many reasons why I think that a digital product is a much better product to sell than physical products. I will list down a few reasons so you can understand why.
1. It is infinite.
Digital products last forever. Once I create one and upload it to be sold, I don’t have to work on anything from there onwards. I spend my time and effort to create a single digital product and any orders that I get will receive the same exact digital product that I uploaded online.
2. There’s no inventory to manage.
One of the biggest problems that many people have issues with is maintaining stock. For physical products, it is such a hassle to always manage stock. Well, this will never be a problem with digital products. Once you create a digital product, it’s one-for-all.
3. You won’t have to worry about delivery.
One of the biggest problems with physical products is delivery. You will need to always manage the delivery and it will be something you will always have to deal with. For digital products, once the product is uploaded to the system, it will work on its own. You will never have to worry about physically delivering anything to your customers’ doorstep. At most, you’ll have to email them the product. It’s as simple as that.
4. Not costly.
There will be zero materials cost. Other than the basic software or website that you use to create the digital product, you won’t need to pay a cent. The good news is, most digital products can be created using the FREE resources available in content-creating websites. My personal all-time favorite content creating and designing website is Canva. It’s really easy to use and beginner-friendly.
5. Extremely high profit margins.
Profit is something that will always be taken into consideration when making a product to sell. As for digital products, the profit margin is one of the highest there is. Apart from the initial cost of creating a digital product, since they are infinite, the product itself will generate 100% profit after a short period of time.
Types of Digital Products
Like I mentioned earlier, eBooks are basically books in digital form. It usually comes as a PDF document. With the modern-day transformations, many are switching from traditional physical books to eBooks as an effort to save the environment. This is a great product to sell if you are just getting started with digital products. Write about anything that you’re good at in a word document and sell it as a PDF eBook.
This is one of the complicated digital products to make. Before you make this, you need a bit of knowledge of software engineering and design.
If you’re good at creating videos, this is a perfect digital product for you to create. You can create educational or informational videos and upload them to your website so people can purchase them.
4. Music and Audio
If you’re good at creating audios like background sounds, music samples, audiobooks, or even foreign language lessons, this is the perfect digital product for you to create. You can create any sort of music or audio that you like and sell it at a decent profit.
If you’re really good at taking photos then this is the perfect digital product for you to create. It is one of the most highly sought-after digital products in the modern world. Not everyone has the time to go and take the best photos out there. So, be it for simple assignments or professional reasons, everyone always needs photographs to include their work. You can sell your images either on your own website or a stock image website and charge users for using them.
6. Digital Art
Digital art can be created on so many platforms. You can create digital art even with the most basic ‘paint’ application that comes preinstalled with almost every device. If you’re good at making digital art, you should definitely start creating this digital product.
Documents are another one of the most sought-after products in our daily lives. They’re usually informational content packed into PDFs, reports, handbooks, guides, or even templates for personal or professional use.
8. And so many more…
There are hundreds of other digital products that you can create. I don’t want to make this article too lengthy so I only mentioned the easiest digital products that you can create. I will be writing an article with the FULL list of digital products very soon.
If you haven’t selected the digital product that you want to start creating, maybe you should consider magnifying and looking into your niche first. It is very important that you create a product that caters to your target market.
So, this is basically everything you need to know about digital products. My next article will be on ‘How To Create A Digital Product’ and I’ll also share with you how you can make money from them (at absolutely zero cost).
If you liked this article, please share it with your friends and check out my other articles. If you have any questions or want to know anything, feel free to reach out to me personally via firstname.lastname@example.org.
Hey! I’m the founder of Smartiac – and I’m really happy to see you on my blog. I write articles on business, marketing, and other passive income streams and teach creatorpreneurs to make and sell digital products online! If you find any of my articles helpful, please share!
Thank you ♥