Find your Next Popular and Profitable Digital Product Idea Here
- September 8, 2021
- Posted by: Funmilola Sanya
- Category: Digital Products
Who doesn’t like the idea of making sales from the comfort of their couch – even when they are asleep? We are in an era where people can conveniently run their businesses without too much effort. Nowadays, most entrepreneurs and freelancers are taking advantage of generating income by selling digital products online. Selling digital products is one of the most attractive businesses you should consider as there are enormous of selling digital products – with good reasons. 2020 was declared the year of digital products, and the value of the digital market industry last year was estimated to the tune of $199 billion. Also, according to the book, The Digital Goods Age – Why Digital Products Will Disrupt Commerce, “The digital goods commerce is growing twice as fast as physical goods commerce and accelerating. Soon it will dominate global commerce, driven by exponential technologies and seismic shifts in consumer behaviour.” This means there is an opportunity for you to create and sell digital products.
Whether you have a full-time job or you’re looking to start a business, an additional income is a great way to build wealth without you breaking the bank, and that’s what the digital product industry offers. If you need more conviction, here are some reasons to sell digital products:
Why you should sell digital products
- To make more money: Come to think of it, the #1 reason people sell digital products is to generate some income. You only have to create your digital product, and then sit back to earn a passive income as people pay for your products.
- It’s time-saving and cost-effective: Digital products are created once but can be sold over and over again, allowing you more time to focus on other important things. You also don’t need to spend more money on producing more units compared to physical products.
- They’re easily scalable: No overhead costs, no need for investors or shareholders, and there’s no limit to how many products you can sell. All you have to do is create.
- No inventory, shipping or logistics: When you sell digital products, you are automatically free from the hassles associated with physical product-based businesses. Selling digital products is very simple. You won’t have to worry about the cost of producing, keeping inventories, or storing physical items.
- Direct access to your customers: Unlike physical products based businesses where you have to deal with wholesalers or manufacturers before your products can finally reach your customers, digital products help you maintain a direct line of communication with your customers. Which is great for customer service and retention – and you don’t have to share your profits with no middlemen.
- No niche restriction: The possibilities to create digital products for a variety of people are endless. All you have to do is identify the needs of a specific audience and create products based on their wants.
Digital products ideas to sell online
These are a few reasons to sell digital products, and there are still more. Digital products will give you an additional source of income with no stress, and it’s a sustainable business to pursue. Ready to dive into the digital products industry but can’t think of a niche product that’s perfect for you? You would find this list of digital products ideas from different industries helpful. These ideas are grouped into these categories:
- Audio and Music
- Software and tech
- Graphics and design
- Information products
To write a book doesn’t take much as you don’t have to be the greatest writer in the world. Think about all the things you know or do best and can comfortably teach others, and put them into writing. If you’ve got good writing skills and are clueless about what to do with them, an eBook is a great place to put your skills to use. This is your chance of gaining entry into the self-publishing arena. According to a report on the Digital Media Outlook by Statista, the revenue in the ePublishing segment is projected to reach US$27,490m in 2021 and is expected to show an annual growth rate of 4.36%, resulting in a projected market volume of US$32,613m by 2025. It’s projected that eBooks have the largest segment with a market volume of US$15,968m in 2021.
eBooks are popular and have a wide global reach so you don’t have to bother about distribution. They are inexpensive to create, are low-cost marketing tools, and are easy to sell. Here are some more digital products ideas you can create and sell:
- Fiction and non-fiction eBooks
- Copywriting templates (email marketing templates, cold email templates, how to ask for a raise template, etc.)
- Cover letters and resumes
- Ecommerce product descriptions
- Recipe books
- Document templates
- Poetry books
- Report/Analytics templates
- Academic research, findings
You can also create digital products for other writers or digital products around your book. Here are some ideas:
- Self publishing guides
- Deleted chapters, short stories or extra scenes
- A proofreading community
- Writing guides
- Novel planning sheet
Audio and Music
Calling all musicians! Be it professional or amateur, as long as you can create sounds that are pleasing to the ears, there’s room for you in the digital products industry. The demand for digital music products is relatively high and increasing. As of 2020, it was estimated that 70% of internet users listen to music streaming services each month – which means that musicians have a huge market in the e-commerce industry.
Below are some digital audio products you can create and sell:
- Sound effects
- Instrumental tracks
- Sheet music
Software and Tech
Software and tech is a unique industry that’s big and consistently growing. Almost every business is dependent on IT services to keep their businesses running. A person’s ability to write codes, design a website, or develop games will land them a good spot in the industry. If you’re skilled in writing a code language, you can create different and new products to sell online. The possibilities are endless. You don’t have to bother about the market, as an established market for your product already exists.
With coding skills, here are some digital products you can create and sell:
- Code snippets
- Website themes
- Brower plugins
- Zapier templates
It might seem that stock photography has made the market look easy and cheap, but there’s a demand for a photographer’s skill set in every field you can think of. Bloggers, website owners and graphic designers remain the biggest consumers of online photography and are always in need of high-quality premium digital photography in their work. The industry isn’t static as photographers are turning their editing skills into a money-generating tool.
See more digital products you can create and sell with your photography skills:
- Stock photos
- Mock images
- Lightroom/Photoshops presets and filters
- Lookup tables
Graphics and Design
From logos to fonts, to PowerPoint themes, to icon packs, to backgrounds, and many more, we can almost say graphic designers have the longest list of digital products they can make money from. Because graphic designers can create a variety of valuable products, people – including other designers – will grab and pay for anything you offer. A designer’s skill set is repeatedly in demand.
Here are some of the best digital products you can create with your design skills:
- Logo designs
- Branding services
- Infographic designs
- Photoshop templates
- Presentation templates
- VR/AR templates
- Icon sets
- Printable journals
- Printout origami
- Invitation templates
- Printable coloring book pages
- 3D printer design files
- Printable calendars
- Turn images into vector files
- Create a website design checklist
An information product can be any product – eBook, audio, membership sites, webinars, etc. – that contains useful content/advice that can educate or provide a solution to the key pain points of your target customers. A good information product will provide guidance to your customer to help them meet a predefined purpose. A video of a person cooking a meal is not an information product, but a video of a person showing you a step-by-step process to cook the same meal will give you all the information you need to make that meal.
Information products are one of the easiest products to create and sell. Your knowledge in certain topics plus an ability to structure that knowledge and communicate it in a way that will improve people’s lives will help you generate a passive income with ease.
Here are digital products you can create and sell using your knowledge:
- Membership sites
- Financial consultations
- User testing
- Mentoring sessions
- Career consultations
- Virtual summits
- Online courses
- Auditing services
Well, there you have it/them!
Go on, put those skills and knowledge into great use, and make valuable products out of them. We’ve curated a long list of digital products to inspire you for your next digital product to generate passive income for you.
Featured image: istockphoto