Are you wondering if creating a digital product is right for you?
Are you currently offering services or selling physical products, and aren’t quite sure you want to change things up?
Reading this post might be just the inspiration you need to create your own digital product(s).
According to some research, 79% of people have bought a digital product in the last year or so.
This means there is a HUGE opportunity out there for anyone who wants to create and market a digital product.
According to some research, 79% of people have bought a digital product in the last year or so. This means there is a HUGE opportunity out there for anyone who wants to create and market a digital product.Click To TweetDon’t let this opportunity pass you by!
Following are the Top 10 Benefits of Selling Digital Products:
1. Make More Money
Let’s get real: This is probably the #1 reason most people decide to sell a digital product. Many people hear about these crazy 5-figure launches and just can’t resist!
While most people shouldn’t expect to sell hundreds of thousands of dollars – especially on their first go – there’s no doubt that selling digital products can be a great way to earn passive income.
Want some proof? Here are two case studies you might want to check out!
Here’s how one couple made $600K selling doll clothing patterns.
Here’s how some musicians sold their music online and increased their profits 5X
2. Spend Less Time Working
Who doesn’t want to spend less time working?
The beauty of digital products is that you create them once and then, can sell them again and again.
Selling digital products means much of your work is done upfront, leaving you more time for working on other parts of your business – or better yet, doing something fun!
And if you’re really smart, you’ll automate much of your work, leaving you even with MORE free time. Do this through building out an amazing sales funnel, engaging affiliates and hiring someone to do the rest!
3. Help More People
If you’re a service-based business owner, you already know that there are only so many people you can serve.
There are only 24 hours in a day, and this limits how many people you can work with.
With a digital product, you can serve an unlimited number of people. Once you’ve created your product, anyone can buy it, anywhere in the world, at any time of the day.
Helping more people while spending less time working? Yes PLEASE!
4. Work From Anywhere
If you’re currently selling physical products, you likely have to spend much of your time at the office – managing inventory, dealing with customers, shipping products, etc.
One benefit of selling a digital product is that you can literally work from anywhere in the world: from home, from the bus, even from the beach.
This is the ultimate in work/life balance and flexibility!
5. Start Selling Quickly
One of the things I love most about selling digital products is how easy it is to make money quickly.
With physical products, you need to source your products, upload photos and descriptions to your website, manage inventory and shipping, etc. With digital products, you pretty much just have to create them, upload them to your site, and you’re done.
This means you can literally create your product one day, and start selling it next!
6. Low Overhead
I’ve alluded to this above, but it bears repeating.
When selling digital products, you won’t have most of the overhead costs that are associated with a brick and mortar or even physical product-based business.
Costs like:
- Warehouse fees
- Office rent
- Utilities
- Shipping costs
- A complicated e-commerce website
- Employee salaries and benefits: While you still may employ staff or contractors to help run your business, you’ll likely find you need far less hired help when selling digital products.
Selling digital products means skipping out on most of these expenses, which means MUCH higher profit margins, and more money directly in YOUR pocket!
Selling digital products means skipping out on most of these expenses, which means MUCH higher profit margins, and more money directly in YOUR pocket!Click To Tweet7. No Middleman
When dealing with physical products, you usually have to work with manufacturers or wholesalers who will supply your product(s). Depending on your strategy, you may also be working through an online marketplace like Amazon…which just adds another layer of complexity and cost.
With digital products, you can often just create your product and sell directly it through your website.
This means you’re not sharing your profits with anyone and can maintain a direct line of communication with your customers!
8. Unlimited Stock
Ever worry about running out of stock?
With physical products, running out of stock can seriously hurt your reputation, sales and even your search engine rankings.
When selling a digital product, this isn’t an issue. Once you’ve created your product, you can sell an unlimited amount, and never have to worry about running low on inventory again.
9. Leverage the Audience You’ve Already Built
Do you have an audience online who trusts you, listens to you and always wants MORE from you? (More knowledge, info, support, etc.)
If so, creating and selling digital products is a great way to leverage this important asset.
Create products based on what you know your audience wants, and then let them know about it via your email list, website, and social media following.
By doing this, you’ll find that not only do you make more money, but you provide more targeted, relevant help to your audience!
10. Opportunity to Flex Your Creative Muscles
If you love writing, teaching, videography, design, or app creation, selling digital products will give you tons of opportunities to use these skills and passions.
As you come up with new ideas, you can continually create new content that you can sell. So, not only are you able to “flex your creative muscles”, you’re establishing a consistent source of revenue – all while doing what you love!
Final Thoughts
These are just 10 benefits of selling digital products…I bet there are plenty more!
So, have I convinced you that selling digital products is the way to go?
If so, you might be interested in some of the other resources I’ve created on the topic:
Launch Your Digital Product in 7 Simple Steps (Checklist Included)
The Most Profitable, Popular Products to Sell Online
The Straightforward Guide on How to Create and Sell Your Digital Product Online
If you’re ready to jump in, let me know what you’re going to create: an eBook, online course, membership site, app, video series…tell us in the comments below!
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I was reading this and i realy found what i was looking for your article is really informative and i’ll be grÉ‘teful if ĘŹou keep writing in the future.
Again thanks for sharing these 10 benefits of selling digital products.
Its a very informative article.