Benefits of Digital Products
In addition to being less expensive to create, you really don’t need to have special access to proprietary software to use them. Most digital products are accessible from a regular desktop computer, including Kindle products. Having a Kindle was a requirement to getting access to an eBook from Amazon; they made a Kindle PC reader so that non-Kindle owners could read eBooks on their PC. Digital products don’t really have the inventory drawback that offline products do, they are also easier to produce, get access to and have a higher profit margin. All that’s required is taking the time to plan, write and market the product, which each present different sets of risk (image via shutterstock).
Deciding What Products to Sell
When considering what to sell, you have to assess the demand. That means doing keyword research and seeing just how much competition exists for that product. There are some markets that are more saturated than others. Inevitably, the social media industry is extremely popular and it may be harder to break out in that category unless you have a specific niche. For example, if you’re into online marketing, that’s a broad category that will have you competing with some of the big competitors. If you dig deeper in the category and find that there’s demand for “online marketing tools for freelance teachers,” that’s probably a niche in which you make great sales. Finding hungry niches that are undeserved and testing will help you figure out how to sell digital downloads to people that want them and are willing to pay (image via shutterstock).
Other Product Considerations
EBooks are just one type of digital products and there are issues that you need to consider. Formatting is one because while some people may have eReaders, others prefer PDF download. You will need to find a secure way to deliver these products while protecting your copyright. If your digital product takes a lot of bandwidth, that may be a problem for some buyers who have slower network connections. It’s a good idea to optimize your pictures so that they are easier to download. Payment processing is also a consideration especially if you have multiple products to sell. You may need to offer buyers a shopping cart as well as a convenient check out service like Google Checkout or PayPal. You will need to customize your site to integrate these features and to make sure your digital product is protected from fraud (image via shutterstock).
As far as selling your digital downloads, some site owners may opt for the in-house approach by hosting the product on their host server. It’s a good idea to check with your webhost to make sure they can accommodate the space effectively and securely. All financial transactions need to be encrypted and that responsibility falls on the company who’s hosting the downloaded information. If you’re not compliant, that could have legal ramifications you may not be prepared for. To avoid this potential issue, services like E-Junkie or DPD (digital product delivery) allow you the option of hosting your digital products on their servers for a nominal monthly fee. All you need to do is create your products, market it, and collect your profit from each sale.