The 7 Types of Digital Products You Can Start Creating Today
Setting up a store online has never been easier: use coupon codes to save on both hosting and domains, install an e-commerce application like Woocommerce (for WordPress) or J2Store (for us Joomla lovers!)
While advertising and affiliate marketing are good ways to earn a living online, owning a product lets you control your own destiny. Every aspect of your promotion, from the marketing to the product itself, can all be controlled by you. Physical products are an option, but you will face considerable production and storage challenges. Digital products are often far simpler, particularly for novices who want to get started quickly. The following 7 types of digital product are all proven to work, with development outsourcing an option in each case.
Videos are hugely popular and easy to produce. Depending on the product, you could film a video with an inexpensive camera and still get good results. If you need to show a presentation, you can use screen capture software or a slideshow. One of the main reservations in producing video is a reluctance to appear or speak on camera. Rather than let this reluctance stop you, outsource the presentation or voiceover segment to somebody comfortable with the role.
In most cases, writing an eBook won’t make you rich, but it can earn you a nice supplementary income. You can write about almost anything, with a variety of niches having a level of popularity. Children’s books are very popular, but you need to create something that will stand out from the crowd. Self-help is also an active niche, including fitness and finance. To really maximize your results, create a series of books that can be branded.
Single products can bring a customer into your sales funnel, but a membership site lets you make recurring income. If you can create enough content to satisfy a monthly expense, membership sites can earn considerably more revenue. Some proven examples include fitness, business, finance, and software. Running a membership site will be a serious undertaking, but making the commitment can ensure your business is more stable.
Software and Apps
Many business owners think software and app creation is too complicated. There is obviously a level of skill required to produce a quality product, but this can almost always be outsourced. If you can think of a good idea, plan out exactly what you need, and communicate your vision to a professional, there are plenty of freelancers around the world to assist you. The app market is growing, while quality software still carries a perceived value, so there is plenty of opportunity in this field.
If you have an area of expertise, a coaching program can work well as a digital product. Lessons and advice can be provided via email or Skype, with no requirement to meet in a live environment. Coaching programs will usually be more exclusive and time-consuming, so they work well as upgrades from your main product base. Coaching can be very lucrative, but you have to be extremely knowledgeable and able to offer exceptional value.
Templates and Themes
Templates and themes can be created once, but they could make sales for many months or years. The most common examples are website themes for platforms like WordPress or Joomla. It can also be worth considering niche options, for example spreadsheet templates or video graphics. People will always look for a convenient product, so providing a quality option for a reasonable price will be hard to turn down.
Plugins are attached to other software products to provide extra features. Software developers can piggyback onto popular platforms, such as WordPress, Firefox, and Photoshop, to market their own products. Due to the popularity of the original products, there is always a thriving marketplace for plugins, so you just need to tap into this audience. The key is to identify an opportunity for a new plugin and create a quality solution.
Selling digital products is one of the quickest and cheapest ways to start a legitimate online business. Many businesses are complicated, time-consuming, and expensive to get off the ground, whereas some simpler alternatives are very precarious. Owning a digital product is a middle ground that lets you run your business from home, allowing it to grow as your experience and knowledge expands. Even though a digital product still has a learning curve associated with it, each of the 7 product types are accessible to anyone willing to take action.