The market for digital products is generating huge revenues. By 2022, it is expected to cross $240 billion. That’s pretty impressive.
It is no surprise there is a certain appeal to this industry. If you are interested in selling digital products, you’ve come to the right place.
In this article, we will talk about some of the most profitable business options (what digital products to sell online) and how to promote digital products.
The Best Digital Products to Sell Online
You don’t have to sell physical products to make a lot of money. You can get rich by selling digital products.
Here are some of the most profitable digital products that you should consider selling.
Due to an increased usage of Kindle, the sale of ebooks has grown significantly. Ebooks make it easier for people to publish their works without finding publishers. By the end of 2018, it is predicted that ebooks will account for a quarter of global sales or $20 million of revenue.
One of the most widely used ebook platforms is Pressbook. It is similar to WordPress. Apart from creating various chapters, the platform allows you to add sections. The pricing starts at $19.99.
Over the past years, online courses have become widely popular. The main reason is that they are easy to access. People are ready to pay for courses like coding, yoga, lifestyles, and more. Online courses generated revenue of billions of dollars throughout the years and in 2023 it is predicted to generate over $240 billion.
Kajabi is one of the best ecommerce platforms for creating online courses.
Graphic designers are used for creating wallpapers, themes, logos, and patterns. The graphic design industry is on the rise and it is no surprise that graphic designers make good money.
If you are a passionate photographer and you enjoy taking photos, you can turn your passion into a profession.
You can build a website and sell your images through your site. If you don’t have one, there are websites on which you can sell your images.
Shutterstock is one of the most popular platforms where you can sell your images.
How to Successfully Promote Digital Products
Promoting your products is important for gaining the attention of customers and growing your sales. Here is how to promote digital products online:
#1. Pre-Launch Promotions
The goal of pre-launch promotions is to target your buyers. It is a time-consuming process to gain the trust of customers. Luckily, there are tactics for achieving a successful promotion.
- Run a contest: It is important to create a wave of anticipation within your customers before launching the product. The best way to do this is to run a contest. This will increase your brand’s visibility and reach.
- Partner with influence: Influencers have a massive reach, huge following, and loyal audiences. If you want to spread your brand’s message – it is best if you collaborate with influencers.
- Get excited: It is essential to maintain the same level of excitement within your potential customers. This would involve keeping your prospects update about any new development.
- Be social: You can use Facebook, Instagram, and other channels to post pictures that show the number of days left for the new product to launch.
#2. Product Previews
You can use videos to preview our product. Platforms like blogs and YouTube give you an opportunity to showcase your product to a lot of people before its official launch.
You can include a video that explains all product features and benefits to catch buyers’ attention. Blogs are cost-effective and a great platform for your business to build connections.
Google has also announced their Preview Program for Google Home software. The company has revealed that this preview isn’t a beta software but a high-quality production.
#3. Expert Reviews
Another great way to promote a digital product is through expert reviews. A detailed review can convince a potential buyer to buy your product. You need to look for an expert in your niche area. Give the product and invite them to write a review. You can use the expert review to promote the product on your website or on social channels.
TechRadar is one of the most popular review websites in the UK. These experts review all kinds of digital products and rate them.
#4. Discounts and Freebies
By offering discounts and giving away freebies to customers, you can gain their attention. Who doesn’t like to get free products?
There are many ways to implement this strategy – you can ask users to share your post on Facebook or sign up to your mailing list.
This tactic can help you generate more sales and if done right, it can increase your organic reach.
#5. Allow Pre-Orders
Many businesses don’t understand the importance of taking pre-orders. There are always people who want to purchase the products as soon as they are launched. If you have decided on the price of the product, allowing pre-order to potential buyers would be a smart move.
Lumiar is a great example of a brand that used the pre-order strategy for their latest version of the photo-editing software. Lumiar is a tool for every photographer who is looking for a better editing solution.
#6. Plan an Official Product Launch Event
Having a product launch event is the best way to promote digital products. Organizing an event to celebrate the launch of your product can get the attention of the media.
Even Google had to come up with a strategy when launching the Chrome browser in Thailand. To showcase all of the features, Google decided to demonstrate Chrome with digital storytelling. This helped everyone to understand the features of Chrome without getting bored.
After the launch in Thailand, the number of Google Chrome users increased and it has become the number one browser.
Now that you know about the different types of digital products, you can choose any product you are interested in and implement these impactful strategies to promote your product.