Making Profit with Digital Products On E-Commerce
Table of Contents
- What Are Digital Products?
- Best Digital Products You Can Sell Online
- Tips For Selling Digital Products Through E-commerce
- End Note
E-commerce has been taking over the business world since a long time now. People are now aware more than ever about their opportunities online as sellers as well as buyers. And now with COVID, online shopping has finally become our reality, and a replacement of physical stores.
From our grocery shopping to our educational resources, all have become digital, which is why the sale of digital products on e-commerce platforms is becoming so widely popular today. Everyone has access to stable internet connections at all times. People of all age groups and professional backgrounds now check online for various kinds of resources.
Whether it is pregnant women looking for pregnancy books or vegan individuals looking for vegan cook-books – they know they will find their answers online.
With minimum investment costs and greater creative freedom, selling digital products online sounds like a great idea for most of us. We are all looking for ways to expand our horizons and explore new financial opportunities. Let’s see what digital products you can sell online and make a profit out of them.
Best Digital Products You Can Sell Online
In theory, it sounds very easy to just go online, set up your website, pick a product and start selling it. Practically, the process is not as simple, and requires some planning and direction from your end. If selling digital product on e-commerce intrigues you, then here are some good digital product ideas you can get a kick start from.
People from all parts of the world and all stages of life are hungry for more information, which is why, books, either in paperback or digital format, never go out of demand. The expected sales of e-books in 2020 were for about $29 billion!
You can take an e-book anywhere and everywhere. They are also a much more eco-friendlier alternative to paperback books. Plus, people today have adapted to extensive screen time and enjoy being on their smart phones and tablets for longer periods. With e-books, you don’t have to store and maintain a bunch of paperback books and take care of them so they don’t get damaged.
So, e-books is a great idea to invest in. There are a wide variety of types and topics of e-books to sell. You can go for a category that you have sufficient knowledge about, or are interested in yourself.
- Software Solutions
SaaS, or software-as-a-service is now becoming an increasingly popular digital product amongst marketers and business owners. Some large-scale SaaS platforms include Google and Canva. SaaS basically is a cloud computing service, where a service provider hosts apps, programs and data on a cloud system rather than on a physical device. In 2017, around 83% of the best US businesses work on SaaS strategy. You can assess how successful and profitable this business idea can be. SaaS solutions allow online access only, meaning there is no physical existence of the product or the service needed.
- Online Courses
Yes, online lectures and classes are a dreadful topic for students in 2020. Nobody wants to pay a huge sum of money for their on-campus student life, and get only a few sessions of poor quality video lectures.
If you are thinking what you would make out of selling dreaded lectures, then think again. What you will be selling online will be very different from these online classes that we all disapprove of today. The online courses you will sell will be very much like e-books in nature – informative and educational. But, the key difference will be that these courses will be available for subscriptions, and buyers will pay a certain fixed amount for the time they are enrolled in that course.
The best thing about online courses is that you can put your area of interest and expertise into use and make revenue out of it. Let’s say you are a professional gardener. You can make a 4-week long gardening course where you talk all details regarding gardening, starting from gardening tools and equipment to gardening seasons and procedures. Online courses can be a combination of texts, PDFs, videos, images, quizzes, and audio files.
There is one catch, though. For online courses, you will have to be working from home, which is why a strong home internet network will be a must for you. Since you are working in e-commerce, it is pretty obvious why a good internet plan is a necessity. You can check out affordable AT&T internet plans and packages, so that the internet costs do not rip off of your business profits.
Benefits of Selling Digital Products Through E-Commerce
If any of the digital product ideas discussed earlier have given you some direction, then you really need to explore platforms like Esty and Shopify to get started. But before that, lets discuss the benefits of selling digital products through e-commerce and why this is a much better alternative to conventional business models.
- Little to No Inventory Costs
Rather than stocking up physical products and looing after them, digital products are a much more cost efficient choice. You don’t need to stock them up in a physical place, nor do they pose any wastage or damage threats if not sold in time. As a result, you don’t have to worry about hiring help for inventory management, neither do you have to pay the price of storage and maintenance.
- Large Global Reach
The potential audience for e-commerce digital products is vast! You are not restricted to any one city, country or region. This is because there are no shipping arrangements to be made. The only thing required from your customer’s end is a compatible payment gateway, which are pretty advanced these days and slowly becoming universal too.
- Work from Home
The flexibility of time is a deal maker. You can work from home at any time that best suits your needs. And also, your work doesn’t have to stop if you have a mild flu or are travelling somewhere. You can literally take your work anywhere and everywhere.
- You Are Your Own Boss
Who would not want to skip the “yes, boss” culture and do whatever pleases them! This is why freelancing and online ventures are becoming so popular amongst young adults these days. Opportunities are endless with digital products. And with tools like Shopify and Esty at hand, e-commerce has become a lot more accessible. Plus, you get a lot of creative freedom when you are selling digital products of your choice online. This is especially true if you are offering online courses.
Selling digital products on e-commerce can be a great way of financial independence and long-term income especially for young people. We are all very tech-savvy these days, and almost all of us are equipped with latest gadgets and smart devices that can help make resources a lot more accessible to us. Seize these e-commerce opportunities before they become saturated and lose the charm!