Selling digital products is one of the highly profitable businesses anyone can venture into online.
Digital products are intangible commodities or assets, that can be sold online and delivered electronically. Examples include software, music, e-books and anything that can be downloaded and used digitally.
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Why sell digital products?
Low capital investment
You don’t have to hold an inventory or consider shipping and production costs, unlike physical products. Because digital products are made and can be sold entirely online.
They have higher selling margins when compared with physical products. You can gain a large return on investment by simply reproducing a million copies of a single product you created once at zero labour.
Other benefits are;
Ease of distribution
They exist as streamable and downloadable files. They can be accessed as MP3s, videos, PDFs and plugins.
It is a profitable means of passive income as it can conveniently supplement earnings with minimum efforts required.
Where to sell them?
Finding a market for your products is relatively easy. Here are some marketplace you can exploere:
An online store is an e-commerce app or website that allows sellers to submit listings of the products and services they offer to potential buyers who will electronically make a purchase. Using e-commerce platforms like Shopify when building your online store allows integration of digital product apps, ease of selling and efficient management.
Leveraging on established digital marketplaces
According to a recent study, successful online product sellers earn thousands of dollars per month on Etsy. Digital marketplaces are another ideal platform that you can explore. However, when choosing a marketplace, you must consider one that is within the niche of the product you are selling, so you can get access to its already existing audience.
You can promote your products to the spotlight they need by using social media. Facebook has target marketing and advertising options which can place your products directly in the minds of the audience you need. You can also use social media shopping features to connect your product advertised to your online store.
Top Digital Products to Sell Online
Now, that the frequently asked questions of ” Why sell digital products?”, and “Where can I sell digital products? ” have been answered, let’s take a look at the top digital products to sell online.
Are you an expert on a particular topic, you should consider creating content on the topics, packaging them creatively and selling the knowledge as a digital product. Educational digital products are one of the top digital products to sell online in Nigeria, and they include online courses, e-books etc.,
Digital products are a great way for artists can monetize their talents. Music can be sold as ringtones, art can be converted into phone wallpapers and prints, also movies can be sold online as downloadable or streamable files. Other entertainment digital products to sell online are; badges, emojis, brand kits, banners, NFTs etc.
Did you know you can sell your business service as a digital product? As a designer, you can create your designs and sell them as logos and templates, or craft your service into a video workout plan and sell them as packages. Services digital products selling works best when memberships and subscription options are integrated.
Other top products to sell online in Nigeria that are fast selling as well include;
Comedy videos, short films, exclusive vlogs, patterns & printable (workbooks, coloring pages etc.,), templates, images, and software services.
Digital products are a profitable means of passive income as nearly everyone today holds a piece of digital content. Its low upfront capital requirement and potential of acquiring a high-profit margin with minimal effort needed to distribute have made it more appealing to sell digital products online. However, as an entrepreneur, you will have to understand that the products you sell are susceptible to piracy and there will be most likely free versions of the product you are selling, you must employ tools to protect your products and strategies to ensure your products sell online.