Selling goods online is quite a norm these days, in fact, it is necessary to have an online presence without which your business may lose out on quite a lot of buyers who prefer to buy from the comfort of their homes. All you need is an online store where you can sell your products and by products, we not only mean physical or tangible products but also all kinds of intangible products such as digital products and services.
Selling digital products online is comparatively more profitable as it involves fewer expenses to deal with and has no hassle for logistics or supply chain. Also, you never have to worry about inventory, you can design the product and keep selling it to hundreds of buyers until you plan to make an update or upgrade. Apart from no inventory worry, you also have no storage worries, for digital products you do not need a warehouse to stock, and you do not need to pay anything for things such as assembly of goods or materials whatsoever.
Sounds appealing, doesn’t it? If, you are now wondering what kind of digital products you can sell online, let us go through our top 7 of the most profitable ones:
1. E-books
This has been growing at a very steady rate in the e-commerce market, more and more people are adopting e-books over physical books for convenience’s sake, and they also are usually cheaper than physical books. This product may take time to write and edit, you may hire an editor or proof-reader to review it, and then you only have to focus on marketing and start selling and earning.
2. Online courses
We are seeing a host of these nowadays, be it for UPSC/GMAT or other competitive exams or for coding or learning guitar or for simply school classes, pandemic further pushed it and these online courses got the momentum they needed. It is just like a physical class but done online, it has the convenience of attending live lectures or viewing recorded sessions, you can choose your forte and design your course accordingly and ascertain a price tag for it and start earning.
3. Photography
Thousands of people do content marketing these days and need unique photographs, and many e-commerce marketplaces buy photographs from you and sell it on their platform. Apart from this, there are people who love to collect unique photographs.
If you’re a photographer, you could sell your work online to earn more or partner with photographers who wish to sell their creative products. You can sell photographs directly on your online store by simply posting them on Instagram or Flickr which preserves your ownership and generates leads. Also, you can market them as images for posters, fliers, cards, and much more.
4. Professional services
Yes, professional services can be anything and not just digital products, but we will include them here as they can also be digital services such as web designing, digital marketing, content writing, consulting, etc.
5. Software programs
This is also one of the popular ways of earning income by selling digital products online. If you are a good coder, you may choose a problem and code software apps that solve it or simplifies it, and it sells online like hotcakes. You may set a one-time price for it or put a subscription model to it. Another option is to build an app marketplace where you can collaborate with app developers, and upload their apps – furthermore, you can either sell these apps at a certain price or have a freemium model.
6. Templates
This is also a type of digital product that sells quite well, a template could be of anything such as resumes, business reports, flyers, brochures, wedding invitations, etc.
You can design these products once and put them for sale or offer customized options pricing them on the customer’s requirements.
7. Research and Data
New companies entering a business or government bodies sometimes while making study cannot dedicate their resources and manpower to study a certain market or top and thereby rely on purchasing market reports from consulting companies, these reports can be generic or made as per your requirements.
Create an Online Store and Sell Today
If you’re thinking about practical, creative, and lucrative products to sell on your e-commerce store, then digital products are one of the best bets. Research your niche well, study your competition, and you can tailor your products to fit your customer’s needs. Lastly, make sure that you market your small business on social media channels like Instagram and Facebook to gather more leads.
We conclude by reiterating that it is more profitable to sell digital products online than physical, but the profitability largely depends upon how efficient and valuable product you sell with your skills and expertise and also how unique, or else you will not find any buyers for your products.
So, what are you waiting for? Create your online store today and start selling to make a profit.
For more information and tips on how to build and grow your ecommerce website, head to our WordPress Tutorials.
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