The term “digital products” refers to information products usually offered on the internet in a digital format. A digital product is a set of information aiming to educate and train the specific group of users that consume it. They’re based on the author’s knowledge and experience. Common examples of this type of product are E-books, Blogs or a video, to name a few.
Main reasons for creating your own digital products
The cost margin when selling them or giving them for free is zero
Most of the digital products that can be sold online have to be created only once. They can then be sold automatically as many times as you want. Their creation cost is the same whether you sell it 1 time or a 1000 times.
Generate value for other people and your personal brand
People who acquire your digital product (payed or free) are downloading it because of a real interest. The subject resonates with them and if you offer digital products about a specific topic (an E-book about how to create a blog for example), people will see you as an expert in the field whether they download your product or not.
If the digital product is good, making it go viral is easy
If you create a free, high quality digital product, there’s a very real chance that you’ll get to a much larger audience than you originally anticipated. Internet and the use of social networks allow for new personalities to surface every day. They become known because of E-books or well done tutorial videos that are useful for a large segment of people. The basics for this to work, as you can infer, is quality over quantity. Don’t think that generating many low quality different products you can achieve the impact of a well-made product that goes viral.
Let’s talk about some of them:
E-books or electronic books
E-books are one of the most common and popular digital products. This format can be offered for free or at a price defined by the author. It can be created as a PDF (the most basic kind) or other formats to be read in electronic fashion (Kindle, EPUB, etc.). If you want to create an E-book, you must answer some basic questions before starting:
What are my goals once the E-book is created?: It’s very hard to make a living by only selling E-books. This is why many are made and given away as a gift to an audience who would be required to do an e-mail registration before getting it. This way, customers can later receive messages with topics of their interest. For others, the creation of an E-book represents an exhaustive work of research, months of analysis and conclusions finishing with the creation of quality material that can be sold for a fair price. The first step is deciding what the function of the E-book is.
Who am I writing for?: Whatever the goal of the E-book is, you must clearly identify its audience, so you can create the right content for them with the correct format, a specific voice and style. If your audience consists of, let’s say, young people who love videogames, an E-book must be focused on images and a dynamic design with little text. It must also be available in a variety of different digital formats. If on the contrary, your audience is made of brokers who need specific information about certain type of shares, the E-book must be well written, have clear and informed conclusions and be available in PDF format so it can be printed.
How do you want to distribute it?: You already know your goal, the topic, and your audience. Now you must choose the way you will reach your users so they can consume your digital product. Amazon offers a great platform for content distribution through Kindle, the E-reader par excellence. Amazon allows anyone to publish content quickly and for free, with up to a 70% profit on the selling price. The rest is divided between rates and a percentage that goes to Amazon. Another option is to create a digital file on your own and sell it directly on an online store. This is an effective and low cost way to sell this type of product and keep 100% of the profit. Jumpseller allows you to quickly sell digital products, try it for free!
Podcasts are basically an audio recording about a specific topic, they are very popular lately. It’s an interesting way of sharing knowledge about a subject in particular. It’s usual to have a guest and engage in a conversation about a series of pre-defined topics, although they can also be improvised. They last between 30 minutes to two hours, depending on how long the conversation takes in each session. Many offer their podcasts for free, with only a couple of payed episodes with special guests. Others make them available completely free of charge to whoever is interested, they only make money from sponsors. Here you can check out an example of a podcast about technology called Engadget.
Blogs and the power of communities
Many personalities from the areas of technology, education and other industries, have made very popular the creation of online communities for the proliferation of a digital business. Kevin Kelly, an important American author of technology topics, made popular the phrase “A thousand true fans”. This means that any digital business built around an online community, needs only 1000 fans who truly believe in the content being created, and are willing to acquire the digital product, for the business to be profitable. These numbers aren’t too far-fetched. The creation of blogs or communities is not an easy task. They must be cultivated over time based on quality content that resolves an issue for their audience. It requires direct and personal contact and the constant creation of new content and topics.
Themes or Templates
Most websites are developed using a technology called Wordpress. Many people don’t know that these sites are made using pre-designed templates or “themes” created by designers who sell them online. Many online stores offer this type of digital product and other similar functionalities such as logo design, infographics, etc. The online store serves as a direct contact between designers and clients. Fiverr or Template Monster are a couple of examples.