Digital Product Creator
Digital Product Creation is the digital entrepreneurship model of creating anything that has a market for it in digital/electronic format, storing it on a server, and selling it. The main advantage of selling digital products over physical products is that you do not need to purchase and store inventory, thereby not having to worry about supply chain breakdowns, rising wholesale costs, paying for storage space, dealing with customers and returns, shipping costs and so on. You invest time in creating your digital product but once that is done, you will never run out of inventory. Digital products are “shipped” instantly upon successful purchase via an email with download link. No shipping facility required.
Examples of digital, downloadable products include:
- ebooks, .pdf documents
- software
- websites, landing pages
- digital courses
- monthly subscriptions to premium content
- videos
- music, .mp3 files
- graphics, templates
But there is one disadvantage to the digital product creation business model: piracy. Some digital formats are easy to copy, even entire websites and there’s no stopping the pirates. It’s also a hassle to get them to cease and desist, due to the difficulty in tracking down the offender. However, piracy is not very rampant, and digital content creation still heavily outweighs the risk.
If you are not very skilled in creating videos and websites, or even graphics for your creative ideas, no worries because you can outsource this to those who can. Upwork is one of many websites that connect technical experts all over the world with those in need of their services. And, their hourly rates are typically much lower than that of a U.S. worker.
Start by taking inventory of your knowledge. What knowledge/ skills have you accumulated over the years, whether from your job or a hobby, that people are looking for (i.e., your market)? You can convert your knowledge into an ebook or online course and sell it online. The key is to first develop an online persona, create free content with value, and promote yourself on social media to attract subscribers. After you have given them value and shown them your worth, you’ve earned their trust and can market your products to them.
The other strategy is to create a sales page (landing page) for your digital product and pay for ads to promote it. You can build your email list faster this way, but it will be more expensive. Use the first option first, and when you have enough cash flow, try ads.
Coming Soon
How to Create an Online Course, How to create sellable custom templates, and How to Use Upwork to create digital products to sell!
