The future is digital, and you can never go wrong with selling digital products as people are always ready to spend money on intangible items and services. Launching and running a digital products business is much easier as it lacks the production stresses of dealing with physical goods. The barrier of entry is also much lower, making it easy to launch and distribute. In this article, we will discuss how to find digital product ideas.
How do you know the digital product to sell? Well, that’s the million-dollar question that we intend to tackle. In this guide, we will cover the best way to come up with digital product ideas.
Coming up with digital product ideas is a three-step process. First, you need to start with what you have, look around the internet and the community, and finally, think outside the box.
Settle on Your Passion
Sometimes starting a business is not all about finding a product to sell but settling on one’s passions and ambitions. You will be surprised that some of the best digital product ideas will be born out of cherished passions and interests.
Publishing is one of the biggest markets, valued at over $20 billion. If your passion has always been sharing stories, solutions, and ideas on various topics, this would be the right time to pursue your passion and concentrate on online publications and eBooks. You will be surprised by the number of people ready to spend big dollars to get a piece of such publications.
Similarly, if you are passionate about content creation, the social networking space around Tik Tok, YouTube and Instagram is home to a ready market for any content. From starting a YouTube Channel to sharing funny clips or covering do-it-yourself items, you can always create a career while doing what you are passionate about.
Solve Your Problems
The best digital product ideas can be born out of problems that need immediate fixing. However, while trying to solve a particular issue, you will be surprised by the number of people also looking for an answer to such problems. Therefore, while looking for digital product ideas, always ask yourself which issue should be solved to improve life.
Once you develop a product or solution that addresses a given problem, finding a target market online becomes much more accessible. For instance, you can come up with an organic solution for managing hair loss, solutions for addressing teeth sensitivity, or solutions for whitening teeth. If the solutions work so well for you, be sure there will always be people also looking for such solutions.
Focus on What You are Good At
A business idea does not have to be complicated, requiring a lot of capital or skill. Developing a digital product idea becomes much more manageable if you have deep knowledge or expertise in a specific field.
For instance, if you are good at drawing, you can also use your talent to launch a business focused on drawing masterpieces of people and other objects. You will be surprised by how much people would be willing to pay just for a portrait.
Likewise, if you are good with musical instruments, you can always open an online course to teach people how to go about various instruments. If cooking is your passion and good at it, why not start an online cooking program. You will be surprised by the number of people who would be ready to spend top dollar to have a recipe for some of your best cuisines. Starting a blog for discussing business and sales ideas can also go a long way as a digital product idea.
Likewise, if you are good at video, audio, and image editing, there will always be a ready market ready to spend big bucks to acquire such skills as the world goes digital.
Digital product ideas can come from anywhere and are not limited to one’s passion, solving problems, or using talent. The world has become a global village thanks to internet proliferation. Therefore, the internet is increasingly becoming a valuable source of ideas for starting a business.
A quick search on Google is a sure way of getting a head start on the various digital product ideas that can be a big success. Google Trends is a valuable tool that one can use to uncover some of the biggest trends from which an idea can be born. If you have two ideas but don’t know which one to focus on, Google Trends will show you which one is likely to elicit strong interest as a business.
Google Trends also provides valuable details by narrowing an idea to bits, allowing one to be specific on the implementation process. For example, if the idea of choice is homemade food, Google Trends will provide insights on which products are likely to elicit strong demand and interest.
Check out trends on social media
Social media is also valuable for anyone looking for digital product ideas. If something is trending in either of the big outlets, there is always a big chance of coming out with an idea that can amount to a successful business idea.
Instagram and Twitter come with intelligent recommendations based on topics one chooses from which one can get valuable digital ideas. For instance, you can find out some of the products people are in dire need of, from animations, logs, photos, digital art, and software.
Social Forum Communities
Social forum communities like Quora and Reddit pool people together to discuss almost every topic. Therefore, it always acts as a reliable resource for finding some of the best product ideas. You will be amazed by the ideas you are likely to get by asking a simple question. Asking for suggestions is the best way to get a head start if you struggle to develop a digital product idea.
Visit Online Marketplaces
Marketplaces like Alibaba, Amazon, and eBay can also be a source of inspiration for the kind of digital idea to pursue. The massive number of products on offer on the platform and the buyers can provide valuable information on other services that people might require.
While it’s easy for people to visit these sites to try and buy some of the items, you can always provide them with a better alternative. Sharing skills on using some of the items purchased is a sure way of making quick bucks at no extra cost.
Break The Geographic Boundaries
In a market where people are always spoilt for choice, breaking the geographic boundary could go a long way. Likewise, a business idea can be born out of focusing on other products that are not readily available in the market.
For instance, one can look to import products that can help shed more light on new cultures and lifestyles. Differentiating oneself from the market is a sure way of launching a successful digital business.
Think outside the Box
One mistake most people make is focusing on physical products when developing a digital business idea. Digital products are some of the best, given the low overhead costs.
However, you can always break the boundary by focusing on downloadable and streamable items. In this case, you can concentrate on offering software, Mp3 files, or video files of exciting content.
How to sell Digital products
Equipped with a digital product idea, the next step is reaching out to the target market to make sales. Unlike physical businesses, you don’t have to be there full-time to sell products online. Instead, it can be done as a side hustle.
The key to selling digital products is a platform sure to draw significant online traffic. This could be a social media account, a website, or even a blog. Having a business account on all the major social networks is a sure way of reaching out to the broader target market, given the number of hours people spend on such mediums.
Start with Family and Friends
If you are new to the business of selling digital products, it is essential to target friends and family as the initial customers. Build an email list and target all the people you know who are likely to support your business.
The best thing about family and friends is that they are likely to be a solid referral base. If they like what you sell, they will likely refer other customers to you. So while it might seem like starting small, it is a sure way of building a network as a business is starting.
Leverage Influencer Marketing
While looking to advertise your digital products on social networks, you can always leverage influencers to reach out to a much bigger target market. Dealing with influencers that are experts in the field you are dealing with will go a long way in enhancing the credibility of whatever you are selling. In addition, the influencers are likely to convince their loyal fans of whatever is on offer, which is expected to drive sales initially.
While selecting an influencer, it is vital to settle on one that is relevant to the industry you are in. Also, ensure they have real followers, most of whom will likely be loyal customers of whatever you sell.
Create an Affiliate Program
While running an e-commerce platform or blog, attracting traffic at the initial stage can be challenging. An affiliate program can come in handy in helping you attract much-needed traffic at low effort, low costs, and a well-contained risk level.
The affiliate programs work by posting links of your blog or website to merchant sites proven to redirect traffic. In this case, you will not need to establish an advertising team for your digital products. Instead, you only have to depend on the affiliates to develop the marketing content.
An affiliate program offers an ideal product-selling route since the traffic redirected to your website or blog is likely to be from individuals interested in the products you sell.
The Power of Coupons and Discounts
Coupons and discounts are some of the best items to use to introduce new customers to whatever you are selling online. Coupons can be used to introduce new product lines and help fuel sales.
On the other hand, discounts offer a way for people to taste a new product or service without spending the total amount. In addition, coupons provide an easy way of building social media marketing, as each customer can be encouraged to provide an email address before receiving a coupon.
Invest in Marketing Tools
Your marketing tools will greatly determine if the products on sale attract the desired demand and interest. To sell items online, one must have a competitive edge often, and there will be other platforms selling similar products.
ConvertKit is one effective email marketing platform that can be used when looking to sell digital products like printables, eBooks, and coaching classes.
Why digital Products Ideas?
Selling digital products does not come with the hustle of dealing with and managing inventory levels. Shipping and logistics associated with everyday products are also not a problem. Therefore it averts any overheads entirely. Digital products are also infinitely scalable and come with some of the highest profit margins, given the reduced costs of operations. Moreover, flexibility in the kind of products offered is very much possible.
Making money while selling digital products depends on finding and targeting the target market with all the available tools. Responding to comments people make is essential, as this will go a long way in boosting relationships. Engaging with the target market is also necessary to ensure they return for more.
Quality and consistency are also essential to ensure the business thrives and continues attracting the needed traffic. In addition, pricing should be taken into consideration. Setting prices too high could cause the customers to turn to alternatives, while charging too little could make customers question the quality of the digital product.
More help on creating and selling digital products?
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If you need help starting a Shopify store to sell the printables then check out my course Printables Ecom Academy here!