While many people use display ads and affiliate marketing strategies to monetize their websites, selling digital products on your website is one of the best ways to generate income from your website. You can either create and sell digital products only or combine them with display ads and affiliate marketing to establish a different revenue stream.
Not only selling digital products online eliminates the need for setting up an inventory but also saves you a lot of money. You can create and sell your digital products again and again. All you need to get started is a desktop, internet connection and some elbow grease.
However, you need to build a solid strategy for selling digital products online as it takes time and continuous effort to create digital products. And you can’t afford your effort, time and money to go into the drain. So, before you start, it is good to decide what you should sell. In this guide, we will discuss the same.
What are the different types of digital products to sell online?
There are 4 types of digital products that you can sell online, including:
- Educational and digital products
- Licensed digital products
- Digital tools and templates
- Membership plans
Now let’s explore each type of digital product with some real-time examples:
Educational digital products
You need to invest your time in learning something new if you really want to survive in this competitive world. Nowadays, everyone looks for ways of learning a new skill - whether it is digital marketing, monetizing techniques or how to animate. So, if you are passionate about something and think you can share your ideas and knowledge with others, why not create an online course?
For instance, you are health-conscious and know various ways to keep your body healthy. You can create an online course on how to keep your body healthy. Another example of creating an educational program is to teach kids how to play the piano and sell that video course online.
Licensed digital products
Many people sell licensed digital products, such as music loops, sound effects, legal contract templates, software, etc. For instance, The Loop Loft sells recorded samples and music loops for producers, musicians, and DJs to use in their music, whereas EditStock sells video footage to editors to help them edit their videos and create outstanding reels.
So, if you think you have a digital product like this that you can choose to sell, again and again, you should think about it.
Digital tools and templates
There are several digital tools and templates that you can sell online, such as graphic design templates, plugins, filters for video and image editing, templates for emails and resumes, etc. For instance, RetroSupply Co. sells digital assets for designers, whereas Life is Messy and Brilliant sells planners on her blog page.
So, you can similarly sell digital tools and templates on your website. However, before you go ahead, you need to identify the right platform to sell digital products.
Membership plans
Many entrepreneurs sell ongoing membership plans to their audience to access a wide range of digital products and services online, such as online groups, courses and coaching. For instance, Netflix offers people subscription plans to watch movies and web series online, whereas Gauge Girl Training offers fitness and nutrition training membership plans.
So, you can also choose to sell membership plans on your online store.
Now that you know the different types of digital products you can sell online, what are you waiting for? Choose your favorite digital products to sell on your website.
