How to Make Money By Selling Digital Products

By MicaR | Online Venture | 15 May 2024


Selling digital products means you sell ebooks, online courses, design bundles, NFTs, podcasts, etc. Selling services means you see your writing services (content writing, blog writing, copywriting, ebook writing, etc.), designing services (graphic designing, web designing, etc.), video editing and animation, consultation services, etc.

If you have writing skills, you can either sell your writing services or create digital products from your writing skills (ebooks).

If you have graphic designing skills, you can either sell your graphic designing services or create digital products through graphic designing skills (SVG files, NFTs, etc.)

If you have video editing and animation skills, you can either offer your editing and animation services or start producing video content for youtube and other sites.

Selling Online: Digital Products, Physical Products, or Services

You can sell digital products, physical products, or services online. However, between these there which brings you more money and which one is relatively easier to sell?

When you can create your own store to sell these items, selling from third-party marketplaces is relatively easy because you do not have to spend money on creating your store.

You can sell digital products on digital marketplaces and physical products on general e-commerce marketplaces. However, a lot of eCommerce marketplaces allow you to sell both physical products and digital products from their platform. For example, you can sell digital products on Creative Fabrica but on Etsy, you can sell digital products as well as physical products.

Freelance marketplaces are for selling your services. Some freelance marketplaces are specifically designed for certain kinds of services, whereas some freelance marketplaces are for all kinds of services. On Fiverr and Upwork you can sell all kinds of services. On 99Design you can sell only design services and on iwriter, you can sell only writing services.

Selling Digital Products Vs. Selling Services: Which One is Better

In my opinion and experience, selling digital products is better than selling services. That’s because when you create a product, you can sell it again and again, but when you are selling services, you should work on each order. Therefore, if you are not already selling digital products already, you start now.

3 Unique Digital Product Ideas

If you are looking for digital product ideas that are in high demand but in short supply, here are 3 unique digital product ideas that you can try.

Computer and phone wallpaper: These digital products are in high demand in the marketplaces like Etsy and Creative Fabrica. You can either sell one item or a collection/bundle. I recommend selling collections instead of a single design.

Youtube Thumbnail templates: The popularity of youtube as a money-making platform is growing day by day. Becoming successful on youtube involves a lot of things and thumbnail is one of them. You can sell youtube thumbnail templates for new YouTubers as well as experienced YouTubers. New YouTubers buy editable thumbnails because they can’t do it themselves, and experienced ones buy because they don’t have time to do it themselves.

Notion Template: Notion is a productivity tool for individuals and businesses. It can be used for studying, planning, budgeting, etc. Since the user base for this workspace is growing, the need for the templates to be used with this platform is also growing.

Number One Technique to Sell Digital Product

If you want to start an online business, you should start selling digital products because manufacturing and selling cost is low whereas profit margin is very high. You can sell digital products on numerous marketplaces.

On Etsy, some of the popular digital products are printable wall art, SVG templates, and digital planner. However, due to the influx of sellers selling these products, the market is becoming saturated and it is really hard for sellers to continue selling these digital products. Therefore, in order to stand out in the ecommerce marketplaces and sell your digital products, you need to create unique products, products that are in demand but do not have too much competition.

The number one technique to sell is to create a unique product.

However, you also need to remember, that your product should be something that people are searching for online. If no one is looking to buy your product, there will be no sales. Creating unique products also means creating products that people are buying but not many sellers are selling it.

How to Create a Product to Make a Passive Income

You might be making money by working actively, however, you need to understand truths about active income. First of all, you pay higher taxes, secondly, at some point in your life, your active income will cease to exist (because you are too old to work or unhealthy to work). Therefore, you need to build passive income. There are numerous ways to build passive income but the most profitable one is to build your own product. If you want to improve your finances, if you want to be financially stable, if you want to grow your net worth, you need a passive income. Passive income is the income that brings you money without having you work hard and spend a lot of time doing it. Sometimes it even generates money even when you are sleeping. There are different ways to create passive income, but the simplest and most effective method is to create a product.

How to Create a Product to Make a Passive Income

If you have created your own product, you will be making passive income from your product as long as there are people willing to spend money on the product.

However, the question is how do you create a product?

First of all, you need to identify your skills because the kind of product you can create depends entirely on your skills. For example, if you are a good writer, you can create an ebook and sell it via Amazon. If you are a graphic designer, you can create your digital art through digital art marketplaces. If you are a video content creator, you can start creating videos for youtube.

Secondly, you need marketing skills. You cannot sell your products without marketing skills.

Thirdly, you need to build an audience for your product.

If you create a product that solves problems and adds value to people’s lives, it is very useful for users, people will continue to buy it for a long time and you will continue to make money from the product.

What product can you create to build passive income?

The kind of product you can build depends on your skills. First of all, you need to identify your skills. Once you know what you are good at you can build the product.

Let’s say you are a very good speaker. You can create podcasts. You can sell your podcasts from various platforms.

Let’s say you have graphic designing skills. You can create digital art and sell your art on the art marketplace. If you are a graphic designer, you can also create designs and other digital products and sell these products through various marketplaces and make an income.

Three Products That Can Make You a Lot of Money

Creating your own product is the best way to make money. That’s because it is a completely passive method and once your product starts generating sales, you do not have to do anything. So, what product can make you a lot of money? Here are three options:

Mobile Apps: Mobile apps can make you a lot of money. You can make money in two ways, one, by offering your app for free and generating revenue from ads, and two, by selling subscriptions. If you have skills, you can create your own apps, if you do not have skills, you can either hire a developer or use a no-code mobile app development platform.

eBooks: eBooks can make you a lot of money provided you have published a lot of ebooks on sellable topics. Focus on creating ebooks on micro niches. Micro niches can be something like how to take care of your Tibetan Apso (not taking care of dogs in general), or something like how to grow avocado (not a general gardening ebook).

Digital Arts: There is a huge market for digital art. There are numerous platforms where you can sell your digital art. However, in order to create digital art, you need art and designing skills and skills with graphic designing software.

What is the Best Product Should You Create

There is a lot of money to be made by selling digital products because you create the product only once but you can sell it again and again. However, what product should you create?

The kind of product you should create depends on a lot of things, for example

Skills you have

Resources you have

The time it takes to create the product

How easy or complicated it is to create the product

You might be tempted to create an online course because you might have heard how much money people are making with online courses. However, you need to understand it takes a lot of time and effort. You need to be skilled in multiple areas, from writing to graphic designing, podcasting, and video making. A lot of people also talk about how profitable workbooks, social media templates, etc. If you don’t have graphic designing skills, this area might also not be for you.

In my opinion, ebooks are the best digital products to get started, if you can write, you can easily create ebooks. Even if you cannot write you can hire writers to write for you. 

Selling Digital Products: Tips and Tricks

Before you want to sell digital products, you need the right skills and knowledge to create digital products, for example, if you want to sell ebooks, you need writing skills, not general writing skills for advanced language and writing skills. If you cannot produce a good quality ebook, you cannot sell your ebook, and when you cannot sell your ebook there the whole idea of selling digital products become nothingness. If you want to sell printables, you need graphic designing skills, you need advanced skills with Photoshop. Well, you can use Canva to design printables but even when you use Canva, you need professional skills to create a digital product. If you do not have the skills to create the digital product you want to sell, you can either attend training to develop skills or hire someone to design the product. As far as I am concerned, the option is better.

Three Digital Products That Will Help You Generate Full-Time Income

Selling digital products is one of the best ways to build your online business because you can sell the same product continuously without having to create or spend money again and again. Here are five digital products that will help you generate a full-time income

Digital Planner: Digital planner is a planning tool that can be used for almost anything from planning your weekly diet plan to a fitness routine, from business planning, and monthly budgeting, to a marketing plan.

Printable Wall Art: Printable Wall Art is the art that people can print at home, frame, and then hang on the wall. People are interested in the product because it saves a lot of money from buying art from the art gallery.

SVG File for Cricut: Cricut is an electronic machine for cutting design material items like paper, vinyl, etc. A lot of crafters and designers are always looking for SVG files to be used on their products like T-shirts, tote bags, etc.

Can You Make Full-Time Income By Selling Small Priced Digital Products?

The answer to this question is: Yes!

However, the main question that needs to be addressed is: How?

First of all, I will explain what small-priced digital products are. Small-priced digital products are the products that are being sold for $5-$10. For example, if you check the marketplace like Amazon you will see ebooks are being sold for as little as $1. On Etsy, you can see postcards and printables are being sold for around $10.  If you are selling a product for $$5-$10, imagine how many products you need to sell in order to generate $1000.

The first strategy is to build products that have high chances of selling. You need to create a product that generates volume sales.

The second strategy is to build organic traffic to your store. Organic traffic will build only when your product is found on external and internal searches.

Thirdly, you will have to sell the same product across multiple marketplaces.

Selling Tactics for Businesses Selling Digital Products

Before you start selling digital products you need to remember a couple of things, for example

Determine which product will sell

How hard do you need to work on creating the product?

How to increase the average profit per product through marketing?

How to increase sales without the need for increasing your audience size?

The product you are selling should help people, if the product does not help people no matter what you do, you will not be able to sell the product in the long term.

Here are some strategies to sell digital products:

Actual value and perceived value needs to be high but the price of the product needs to be comparatively low. When the price is low, people who don’t know you might buy your product. Low prices will attract a cold audience.

Your product should also include irresistible bonuses. When people are getting a free item by buying something, they might be tempted to buy your product.

Kojii: Make Money by Selling Digital Products

If you do not have a website but want to make money online by selling digital products or monetizing the existing products, Kojji can be an interesting way to make money online.

Kojii (web address withkoji.com) is a link in the bio program that anyone can use for free to make money online. You link a product listed on Kojii marketplace to your bio and generate sales. You can also use other monetization options like Tip jar or sell your ebooks, workbooks, and other downloadable files. You can even publish videos n the platform and monetize your videos.

Getting started is super easy. Go to the website, and click get started. You will be guided to create your profile. Once your profile is ready, add a product to your bio, your product can be downloadable items or apps from Koji marketplace. You can even sell your profile picture as an NFT on Ethereum or Polygon blockchain. There is an easy way to get started with this by using PFP Generator.

Selling Digital Products on Digital Marketplace to Make Money

There are a lot of digital marketplaces where you can sell your digital products and make money. There are a lot of freelancing platforms where you can sell your services for digital products and make money. Selling digital products is one of the best ways to make money online. However, before you create digital products, you need graphic designing skills. Most digital product creation requires graphic designing skills. For example, you can create workbooks, social media templates, digital art, or even NFT only when you have graphic designing skills. Courses are also popular digital products, but creating courses does not require graphic designing if you are creating video courses, podcasts, or even text-based courses. However, courses require you different sets of skills like video making, podcasting, writing, etc. If you are a good talker and camera-friendly, you can also sell webinars.

Winning Digital Products To Make Money

If you want to sell digital products, you need to create winning products. Winning products are the products that sell in volume, have the capacity to go viral, and offer a lot of money-making opportunities.

What are the digital products that you can sell right now and make a lot of money?

SVG files: A lot of people, who are not graphic designers themselves, need SVG files so that they can use them on their Print-On-Demand products or any other digital products. Instead of selling one design, try to sell it as a bundle where buyers can get 50-100 designs.

Phone Wallpapers: These are also high-selling digital products. You can create wallpapers with interesting quotes, memes, motivational quotes, digital art, painting, etc.

Fonts: People need fonts so that they can use them on their product designs. Even though there are marketplaces that specifically sell fonts, you can still carve your niche.

Social media templates: You can create social media templates and sell them to digital marketers. You will have to create templates for various social media platforms.

Creative Fabrica: Is this The Best Marketplace for Digital Designs?

Creative Fabrica is a marketplace for digital designs. If you are a designer, you can open a shop and sell anything from social media templates, SVG files for digital printing, workbooks, printables, etc. in fact, you can sell every digital product that you might be selling on other marketplaces.

If you are not a graphic artist and if you need graphic design for your marketing, product design, etc. you can use Creative Fabrica.

Creative Fabrica is a subscription-based service for buyers, you pay a subscription fee and are allowed to download a certain number of files per your subscription.

As a seller, you earn up to 75 percent sales commission if you bring your own buyers, and you earn 50 percent sales commission if Creative Fabrica refers buyers.

If you are neither seller nor buyer, you can still use it to make money. You earn 25 percent affiliate commission for each order and 20 percent affiliate commission for each subscription.

If you are a graphic artist, and you do not have any assignments on your hands, you can sit and create good graphics and digital arts, and put them for sale on the marketplaces like Sofontsy, fontbundles, karimoos, DesignBudles, on even Etsy (probably the most popular platform for digital items). The major benefits of selling your work through digital marketplaces are you earn passively, you do not have to work again and again to earn money from your work, and you work once and make money forever. However, you might have to do some marketing, though.

Selling Digital Products to Make Money: The Conclusion

In order to generate income by selling digital items, you need skills to create these items. For example, if you want to sell ebooks you need writing skills, if you want to sell NFTs, you need skills to create NFTs. If you don't have skills, you can hire someone to create digital products for you and you can acquire the rights to sell. Just because you have a digital product does not mean selling is easy. I have published a couple of NFTs on OpenSea, the world's biggest open marketplace for NFTs. I have not sold a single NFT. I have also published a book through KDP, it has been over 6 months since the book has been able for sale on Amazon, but until now I have sold only 5 copies and all 5 buyers were my friends and family. I have also listed my digital art on Fine Art America but no sales for me.

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MicaR
MicaR

Web Designer and Content Creator


Online Venture
Online Venture

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