By Syed Balkhi
Source: Entrepreneur
It has no physical form, and therefore little or no development cost; but a ‘digital product’ like an ebook or audio cost can earn you a bundle.
In the past, creating your very own product may have seemed like a pipedream. There was so much work involved in building a product, not to mention the fortune often required just to get a product to market. But not anymore.
Now, anyone can create a digital product and make money online. One of the biggest perks of creating this category of product is that you create it once and sell it over and over again.
So, what does a “digital product” mean? It means a product without a physical form. Consider these examples:
- ebooks and pdf guides
- video tutorials
- audio courses
- templates
- WordPress themes
- images and icon sets
- stock photos
These products are low-cost to create because you don’t have to deal with shipping or manufacturing costs or a lengthy development time. The product is also all yours, so you get to keep all the profits. Plus, while creating it is super low-cost, it has the ability to generate you a ton of money.
Before you dive in head-first, however, make sure your digital product will be successful. Check out these four tips for creating a digital product that sells.
Choose a winning digital product.
The first step is to choose the right digital product: What good will it do you to spend your time creating something that no one wants to buy? That’s why you’ve got to create something that solves a problem for your audience.
To determine what niche will sell best, look at what your audience comes to you for, now. Do they come to your blog for budgeting advice? If so, consider creating budgeting templates. Is your most popular blog post a beginner’s guide to email marketing? Then create an ebook guide for email marketing.
If you don’t know what the pain points are for your audience, look at your website analytics or consider asking your visitors by adding a survey or poll to your site. Analyzing what your audience is most interested in from you will help you come up with a digital product that’s irresistible to them.
Make your product visually appealing.
Just because you’re creating a digital rather than physical product doesn’t mean it shouldn’t look good. Consumers buy with their eyes; if your product looks impressive, they’ll be more likely to want it, and even to pay for it. According to a study on Science Direct, when a product’s design is powerful and impressive, consumers are less sensitive to its price. So, make sure you spend time to create visually appealing product images.
Now, you might be wondering how to create images for a product that isn’t actually tangible. For most digital products, you don’t want to post a photo of the product itself, but instead visually demonstrate a glimpse of what the user will be getting. For instance, you could create a little mockup of what’s included in a guide or workbook, as in the example below.