- Published on : Oct 8 2012
One of the hottest ways to make money on the internet is to create your own product, specifically a digital product. Everyone wants to be the creator of their own product, but having a “physical” product means you will need to hold inventory, charge shipping and handling, process returns and maybe even offer customer support. If you are going to focus your efforts on creating a digital product, you are already bypassing most of these annoyances that cut into your bottom line.
At the end of the day, digital products continue to sell like crazy and if you know how to create and market them well, you can start cashing in on this high profit margin business as well. Let’s dive right into some key questions and points of interest you should know and research before creating your own digital product.
Who is going to buy your product?
The most important question surrounding the success of your digital product is why you are going to create and who is going to buy it. Of course YOU are creating the product so you can make money, but at the end of the day you really need to be providing a quality product that people want to buy and find value in it.
What are some of the best selling digital products over the past decade? Weight loss, dating, self improvement and business/make money guides have all done extremely well… but why? The answer is simple, people will pay to “try” and find a way to achieve their goals for self improvement, whether this is physical, financial or emotional.
You can jump into any of these niches and find success, but you will also need to be ready to fight against some touch competition. Instead of going for the big money keywords and niches that are fully loaded with books, take your digital product and focus it on a specific niche or twist such as “weight loss through low carb foods” or “make money online with surveys”. If you can create a killer guide that is focused around these topics and reaches and audience that is willing to spend a few dollars on your digital product, you may have just found a winner. The best books, services and products in the world focus on solving problems, and you should be trying to do the same with your digital product.
* Looking for some ideas on what is selling well? Amazon.com is your best friend!
How to sell your digital product?
Some of you might already have a digital product or ebook started, but now you are worried about how you actually launch and sell your product online. What are the start up costs, delivery methods and profit margins you are going to see on your product? All of the are important questions and they will vary depending on where you go and how you decide to sell your digital product.
There are many huge marketplaces online for selling digital products, but some of them are too complex for newbie online marketers and someone who is looking to just sell a product they created and not do a whole big joint-venture program and deal with high volume and big network fees.
For anyone who would like to simply sell their product and not deal with all of the advanced features and frustrations of other networks, Sellfy.com has quickly become a top choice for many. Without trying to sell their services, it’s a quick free sign up on their site and all you need to do is upload the digital products, add your product details and cost and then you are setup with your own unique “Buy Now” link. All transactions are handled through Sellfy and sent to your Paypal, while the customer receives your digital product.
Ideas to Launch and Promote Your Digital Product
It’s never enough to simply create a product and set it up with a sales page and start making money, you need to have a plan in place to get people to KNOW you have a product and have them engaged to BUY. If you already have a blog of your own and a large social networking following you are already ahead of the game. You may also want to think about creating a few free guides and building up a mailing list before your official launch, this way you have a set of targeted potential customers who are already interested in your previous work.
Paul Jarvis recently published his cooking ebook called â€œEatAwesomeâ€ using the Sellfy platform I mentioned earlier. In just the first two days he was able to sell over 100 copies of his book. Paul isn’t a big name online marketer and it’s a book about cooking, so it’s actually quite interesting to read about how he was able to successfully create and sell the book so effectively.
You had a pretty successful launch. Any tips for other independent publishers?
Thanks! My biggest tip would be to figure out the line between annoying people and promoting to them on social media (which Iâ€™m not even saying I do perfectly, haha). You definitely need to let folks know you have something they can buy, but you donâ€™t want to constantly ask them to buy it. There needs to a nice balance between talking at your social media followers and interacting with them. (read full interview)
With so many different niches and ideas for how to make money through the use of digital products (books, games, downloads, software), it’s almost silly not to see if you can create a side income of your own. Take the resources and advice from this article, along with the creative ideas you may already have and get started with your own digital product launch today.