Benefits of Selling Digital Products

DIGITAL, BUSINESS / NOVEMBER 7, 2020 BY HARI
KUMARAN / LEAVE A COMMENT

Are you thinking about creating your first digital product?

It may be an ebook or video course.

Are you still confused, whether to pursue or not?

After reading this blog, you will start taking action and launch your first
digital product soon.

So What is a Digital Product?

As per Wikipedia, Digital products or e-goods are intangible goods

that exist in digital form.

Let’s look at the benefits of creating and selling digital products. 

No Limit in Money

Yes, there is no limit on the money you can earn by selling your
product. 

It is up to you, and it depends on your marketing strategy and your

target audience. 

There are hundreds of people who are making millions every year by
selling digital products.

No Stock Issues

Of course, it is a digital product, so you don’t need to worry about

stock. 

There will be significantly less cost involved depending on the product

and bandwidth consumed.

You could sell to 1 or 1 million people without worrying about the

warehouse or storage space.

Spend Less Time Creating

You create once, but you sell multiple times.

Yes, once your structure your product and created it. You could focus
on marketing only in most cases. In a rare scenario, you might work
again on those products.

Help & Reach More People

Your product is all about solving the problem for your audience. By
creating a digital product, you could help hundreds and thousands of
people at the same time. 

You don’t need to spend on ads, you could regularly create content
around all social media, and you could drive traffic to your sales funnel
and sell your digital products.

If you have an advertisement budget, then you could scale and sell to
your audience even faster.

Freedom Lifestyle – Work From Anywhere

Its digital buddy, you could be living anywhere in the world and still sell
your product to any corner of the world.

You save a lot of time, and you could spend time with your family or
go on vacation. You could automate a significant part of the sales and
support, so your dependency is reduced.

Literally, by creating and selling digital products, you get more control
over your financial life.

Less Resource and Operational Cost

You don’t need a fancy office or lots of resources to handle your

products or service. With the digital product, you could hire a virtual
assistant to take all the sales and support queries.

Office Space, furniture, travel, all these could be saved when you
create and sell digital products online.

Open Market, Sell WorldWide

With online, its open market, even if your potential customer is on the
other side of the world, you could sell and provide value to them with
digital products.

With your own website or marketplace platforms, you could reach and
sell your digital products to any corner of the world with internet
access.

Opportunity to Upsell

If your digital product is an ebook, you could upsell them to a video

course. From there, you could upsell to group coaching or 121
coaching calls.

There is no limit, and depending on your product, you could create

any related products or high-ticket products with more value and sell it
back to your customer.

Direct Selling

You don’t need a distributor or retailer. You could sell your products
directly to your customer from your website with some tools and
systems.

Start Selling From Day One

Once your product is ready, you could start selling to your audience. 

Even better, if you have an existing audience and you are going to
create a digital product for them, you could also run a pre-launch offer
and sell your product.

Leverage Existing Audience

Most of us would have been connected with hundreds of people via
social network already, why not use it. 

If the digital product you plan to create matches your existing network,
start talking about it on your social account, and build your narrative to
sell your product future.

High-Profit Margin

Since there is no office space or resource involved, your cost will be

very low.

So your profit margin after other costs will be very high. The more you
sell, the profit percentage will be higher.

Evergreen Products

When it comes to digital products, almost 70% of the time, the

products will be timeless, so irrespective of the market or situation
globally, you could sell the same product for decades.

If your product is more related to the trends or platform, then you

might have to make the most out of the trend wave.

Your Product Your Pricing

You are the boss, it’s your product, and you can fix any price you
want. 

Depending on the value you the digital product delivers to your

audience, you could keep your pricing from 1$ to even 30k$

Affiliate Income
You could earn not only from your digital product but also by referring
to other people’s products, and you could earn a commission.

Note: I have a course on how to leverage affiliate marketing and

make money from it. Click here to know more.

Let’s consider your digital product is ‘Reduce Body fat in 7 days,’ and
you cover all fitness and exercise to reduce body fat. Analyze what
products are related to your title, and it could also benefit your
customer. It may be protein powder or a specific food/vegetables, you
could leave an affiliate link to those products inside your course, so
when your customer clicks and purchase those products, you earn a
commission.

Collaboration & Joint Venture

To promote your digital product, you will create a lot of content, and
you will get a lot of inbound leads and inquiries.

You may feel threatened by other experts in your niche. Still, if you
think about it, there is enough customer in the market for everyone so
that you can sell and serve your product irrespective of the
competition.

Better than competing, collaborate with them and create joint ventures
to complement each other and grow together. 

Automate & Sell 24*7

There are so many tools available, which you can subscribe to for a
low monthly fee and automate your complete sales cycle.

Once you automate the sales process, you could make money even in
sleep. Many entrepreneurs are doing it already.
If you need any help building your digital product or sales
process, click here to chat with me and let’s discuss further.

Feel free to share your views in the comment.