Where And How To Sell Digital Products For Most Profit?

Digital products have become an integral part of our lives ” we are surrounded by e-books, music and videos, various online courses, and graphic objects that cannot be held in our hands, tasted, or touched. However, they are in huge demand, so the idea of starting a business selling such goods looks quite interesting.

But the MasterBundles specialists know that getting started is one of the most difficult moments, so we decided to make it easier by discussing the best ways to make money on digital products. We will also explain why this area is really attractive and show worthy marketing tips.

Few Words About Digital Products 

A digital product can be any intangible asset or object that is available for multiple sales or distribution on the Internet. This is possible indefinitely since it doesn't require replenishment of stocks. An object created once can be sold any number of times. Typically, these products are downloadable or streaming digital files. For example, MP3, PDF, SVG objects, and various plugins or templates.

The sale of such products is profitable, as it guarantees such advantages:

- high profitability (no recurring costs for raw materials);

- low consumption (no need to regularly spend money on shipping, delivery insurance, or inventory purchases);

- the possibility of automating processes (simplicity and automation of ordering, paying, and delivering a digital product help to avoid the human factor).

Of course, there are also some minor drawbacks. For example, high competition due to the abundance of free products in the same field and the need to follow the commercial policies of the platforms through which you sell products. However, most of these problems are easily overcome.

Best Ways to Sell Digital Products

Now let's get down to business. Let's say you already have a certain collection of digital products for sale. How can they be sold? Here are the best options for the current market:

- Selling through your own website. If you want to maximize brand awareness, attract customers, and have a platform focused specifically on your products, then you can use e-commerce platforms (like Shopify or Thinkific). They will allow you to create a digital storefront for a specific brand. The first platform features tons of free templates, great support, and a $29/month billing plan. The second platform has easy setup and detailed analytics, a free plan with basic features, and a paid plan ($99/month) with advanced features.

- Selling through marketplaces. The choice of such a portal, most often, depends on the type of product. For example, for designers creating fonts, templates, illustrations, and other graphic objects, MasterBundles is suitable. The user needs to register and select the vendor role. Products are loaded through the convenient Sell your Deal form. After a quick moderation, the vendor will be able to sell products and receive 50% of each sale. This will allow you to passively earn about 500-1000 dollars for six months if you submit 10+ designs at once. Withdrawals are available after accumulating $50. Of course, there are other marketplaces, but their conditions will be different. For example, a larger commission can be charged from vendors, and moderation will last longer.

- Selling through Amazon. This platform is considered the most popular among modern entrepreneurs because it allows you to easily reach an international audience. The portal commission will depend on the type of digital product. Amazon is best suited for entrepreneurs who want to sell digital music, books, apps, collectibles, and fine art. In addition, there are several special programs for sellers that sell only on Amazon ” study their specifics to find out what works best for your niche.

- Selling via eBay. At the moment, the platform has about 180 million active users around the world, so the vending of digital products will be quite active here. Especially if you have competitive prices! The scheme for selling digital content on eBay is similar to selling a regular product: when creating a product page, you just need to indicate that you are "listing a digital product." Before listing them, it's wise to set up your own eBay store to promote your brand and collect feedback from buyers.

- Selling through Lazada. In general, the portal is very similar to Amazon, but it focuses more on sales from Southeast Asia. Lazada has a whopping 183.4 million monthly visits. Users get a user-friendly admin panel that makes it easy to manage their digital store.

Of course, you can list the platforms endlessly. However, the choice should always be made based on the type of products you have. For example, if you're looking to sell online courses, you might want to consider Udemy, Skillshare, and Thinkific. Music products, videos, and books are eligible for sale on the Apple iTunes Store, Amazon, and eBay. Graphics products sell well on platforms like MasterBundles.

Additional Selling & Marketing Tips 

But choosing a suitable platform for selling digital products doesn't mean you are already on the path to success. In addition to a suitable portal, the vendor needs to keep in mind the following critical marketing tips:

- Focus on quality. All products should be created to add value to your target customer's life. In addition, it's important for good competition with free content that is freely available.

- Use lead magnets and freebies. No matter what the pricing policy and type of your product are, be sure to create a simplified free version of it. This will allow you to engage your audience, give your customer a demo of your product, and create a list of consumer emails that you can send promos for future sales. And, of course, this builds trust in your brand, increases the chances of additional leads, and retargets potential customers.

- Make incentives for pre-orders and regular customers. A great way to successfully sell digital products is to encourage early risers. For example, you can provide a 20% discount for the first hundred customers, 15% ” for the second hundred, and 10% ” for the third hundred, and then launch the product at full price. Or, for example, you can offer a large 50% discount for regular customers if they manage to purchase in the first hundred.

- Try an affiliate program. Consider looking for influencers in your industry with a lot of audience trust, and invite them to be your referral. For each sale through the link, the referral will receive a certain percentage of profit, and you will achieve great traffic and increase sales.

Another tip is that the money-back guarantee is a magnet for the user who cares about the integrity of the vendor. And if the customers aren't familiar with your product and the competitor's one, then they are more likely to choose the option that guarantees a refund. However, to prevent abuse of such a feature, be sure to clearly state the terms and conditions.

Conclusion 

Digital products have already become deeply embedded in our lives, and their demand will grow every year. So knowing where and how to sell such goods will be relevant for any entrepreneur, regardless of the chosen field ” whether it is design, music, e-books, website templates, or something else.