Isn’t one goal of every business to increase sales?
I would sure hope so!
Though it can often become difficult when you are not sure which avenue to choose best suits your needs.
If this is the case, you might want to look into digital products’ benefits. Not only is digital a mainstream form of communication in this day and age, but it only involves creating one product you can sell many times over.
Digital products can be lucrative to support lower overhead costs while maintaining sales growth. They also are a viable way to keep your business booming by meeting the ever-changing needs of your customers.
How Do You Create a Digital Product?
The first thing you will want to do is tailor the product to your target audience.
A few brainstorming ideas might include:
- Is there a problem you could solve for your consumer?
- Is there a product or service you could offer to help meet a need?
- Is there useful information you could impart via a digital product?
Once you decide based on your product, you will want to choose which type of product will best fulfill it. If this is something outside of your skillset, you can always hire an outside source to help you create it.
Once your product type is in place, you will want to map out steps or a plan to utilize along the way. This can be as in-depth as you want but doesn’t need to be longer than a page or two.
At this point, you might want to consider setting a goal and pre-selling your product. This will help to ensure a want/need for what you plan to offer. You can create a simple sales page to promote on your social media channels or via an email blast.
Once the pre-sale goal has been reached, it’s time to create and launch your product.
A few key steps to include in your launch plan are as follows:
- Create a finalized sales page
- Create a follow-up “Thank You” page
- Create an email sequence that will begin after each sale
This will allow you to begin building a relationship with your consumer and solidify brand loyalty for future sales.
Digital Product Ideas and Platforms
Depending on your business type, various products might work within your target scope.
You can choose the one you think would meet your greatest consumer need at the moment and then launch another one after.
Below are 10 simple product ideas you might want to give a shot provided by easydigitaldownloads.com:
- Canva Templates
- Affinity Design and Photo Templates (Or other Graphic Templates)
- A Tutorial or Online Courses
- Stock Photography
- A Document or Document Template
- A Productized Service
- An Audio Sample Pack
- 4K Drone Footage
- A Crowd-Sourced Spreadsheet
You could also try your hand at a new app, games, themes, or plugins. The possibilities are endless!
After your product has been created, you will need to pick one or more platforms on which to make your product available to consumers. The specific platform(s) will depend on the product, but a few such options might include:
- Teachable: Great to utilize for online courses.
- Shopify: You can use Shopify for both physical and digital merchandise. This makes it easy if you also have physical inventory so that you can create an atmosphere of one-stop shopping.
- E-junkie: This digital selling platform incorporates PayPal and Stripe as payment options. This benefit will allow you to sell on various social networks, blogs and other markets like eBay.
You can check out these and other possible platforms at: https://www.hostinger.com/tutorials/digital-products
The Benefits of Digital Products
If you are unsure whether creating digital products is right for you or your business, check out a few of the benefits below:
- Reduction in start-up costs
- Lower overhead
- No physical inventory to be kept on hand
- Instant delivery with no shipping involved
- Never run out of stock
- Digital products last forever
- Unlimited market to create and sell
- Withstand market trends better than physical products
- You can create and begin selling a digital product in less time
- Greater profit margins
And the list goes on and on!
So if you are looking for another way to increase your revenue, digital products may be your answer.
Just remember to take a little time to research current trends, scope out your consumer needs and think about testing your idea through pre-selling first. It may be a bit of trial and error initially, but the benefits of utilizing digital products will far outweigh this in the end.