With all that is going on in the world, I needed a distraction that was productive. But nothing seemed to be working. I mean, I would plan the day as usual, but end up doing something else entirely. Or I may think of picking up my MacBook to start working on something but would just stare at it and get zero done. I turn on the TV or look at my phone and I see the saddest things happening to people who I'm sure do not deserve all the abuse, the atrocities, the pain, so on and so forth. My productivity has slumped and it is bringing me down, and because I am down it further affects my productivity. Like in a vicious cycle. And it's not something I enjoy.
Today, I gently coaxed myself into writing since it’s usually the only thing that would snap me out of whatever it is that keeps me in my head. I finally decided to tackle two of the most common questions that come up on internet searches regarding digital products as a side hustle:
"Is it profitable to sell digital products online? and
"Which digital products are in demand (or sell best)?"
And "Why digital products?", you ask. It is because, at the moment, I am working on a digital product that I am going to drop soon on Shopify. So since I already have a little knowledge of it, why don't I expand what little I know of it and share it with you?
As I set about phrasing and paraphrasing material I got from the internet for answers, I realized that these were the very same questions I had asked not so long ago. In a way, this whole exercise is a self-reminder to get me back on track. Collecting the list below (so you won’t have to) is one way of redirecting my focus back toward one of my goals for this year.
Is it profitable to sell digital products online?
To answer the first question, YES, digital products can be highly profitable to sell online. If you are eyeing digital product distribution as your additional source of income, you won't hear any discouraging words from me. If you have the skill or maybe just an interest in learning to create digital products, this might be worth looking into. Yes, by all means, do your pros and cons but maybe the following might go under your pros column.
Lower production costs -- many digital products can be created on free apps like Canva. The free version is a great starting point to familiarize yourself with its features and get yourself into the zone. You can check out free Canva tutorials on YouTube if you feel you need to. You can opt for the Pro version as well if you want to take advantage of its premium features.
Ease of distribution -- by signing up as a seller on Amazon, Etsy, eBay, etc..., bam! your products are good to go. You can start selling immediately versus having to go through the hassle and expense of renting a commercial space to showcase your items; or storing and shipping physical products if it's an online store.
The potential for passive income -- with digital products, you only have to create the product once. You won’t have to be hands-on 24/7 nor worry about shelf-life and product availability as long as your seller account is up and your item is actively up for sale.
Which digital products are in demand (or sell best)?
These are just some of the most profitable digital products you can consider selling:
1. E-books: If you have expertise in a particular field or a passion for writing, creating and selling e-books can be a lucrative venture. Topics can range from self-help and personal development to cookbooks, guides, or educational content.
2. Online courses: Share your knowledge and skills by creating and selling online courses. Platforms like Udemy, Teachable, or Thinkific allow you to create and monetize your courses easily. Popular topics include business, marketing, photography, fitness, and language learning.
3. Stock photos and graphics: If you have a talent for photography or graphic design, selling stock photos, illustrations, or vectors can be a profitable digital product. Websites like Shutterstock, Adobe Stock, or Etsy provide platforms to sell your digital assets.
4. Templates and themes: If this is your cup of tea, don't waste that skill. Design and sell website templates, WordPress themes, or presentation templates. Many individuals and businesses are looking for pre-designed templates to save time and effort in creating professional-looking websites or presentations.
5. Music and audio files: If you are a musician or have a knack for creating audio content, selling music tracks, sound effects, or audio loops can be a profitable digital product. Platforms like iTunes, Spotify, or Bandcamp allow you to sell your music online.
6. Software and plugins: Develop and sell software applications or plugins that solve specific problems or enhance functionality. This can include productivity tools, website plugins, or mobile apps.
7. Digital art and designs: If you have artistic skills, consider selling digital art, illustrations, or designs. You can create and sell digital paintings, portraits, or even custom-made designs for businesses or individuals.
8. Online memberships and subscriptions: Offer exclusive content, access to a community, or premium resources through online memberships or subscriptions. This can include access to webinars, mastermind groups, or premium content libraries.
Once you have picked one (or two) that you think would work for you, remember to identify a target market, conduct market research, and create high-quality digital products that offer value to your customers. Marketing and promoting your digital products through social media, email marketing, or collaborations will increase your products' visibility and can help maximize your profitability.
Now, I know there are countless more digital products out there that you can sell online apart from what is on here. Do not let this obviously limited list deter you. There is no running out wherever creativity is concerned. If you have something in mind that I have not mentioned here, go for it. Just go for it. Create something. I will be going back to this post, most likely to make edits (maybe a lot of it), but I am also going back to add more, so stay tuned.
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