Finding a means to earn an extra income? Then creating and selling digital products might just be your best bet. And the best part is that it’s easy to start up and start earning, just like that.
They are different types of digital products to create and can be sold on your website or in an online marketplace like Gumroad or Ebay, or on platforms like Teachable or Udemy.
There is no limit to where you can offer your digital products for sale and receive income every time a person makes a purchase. So here are some digital product ideas to look into.
E-BOOKS
E-books are one of the most popular and profitable product to sell. They are very in demand with millions of readers worldwide seeking digital content on a variety of topics and once you’ve created your e-book in a certain niche you begin to generate passive income through sales.
WHY E-BOOKS?
· It provides a long term source of income
· Easy to create
· E-books are very flexible, can be easily updated, revised or expanded
· Low startup cost as it does not require printing or shipping fees.
· They are available globally, easily accessible to purchase without geographical limitation.
HOW TO CREATE AND SELL AN EBOOK
STEP 1: Identify your niche and choose your target audience
STEP 2: Draft out your content and start writing your e-book
STEP 3: Edit and revise e-book
STEP 4: Convert e-book to digital format and design the cover page
STEP 5: Choose a good sales platform and promote your e-book
ONLINE COURSES
Creating online courses is another digital product that gives you a recurring revenue. They can either be created in video or text-based courses teaching topics like marketing, cooking, or even educational topics like coding.
WHY ONLINE COURSES?
· Higher price point compared to e-books
· Provides flexibility, allowing it to further be expanded, revised or updated.
· It creates opportunities for affiliate marketing which increases its sales potential.
· Provides student feedback and assessment
HOW TO CREATE AND SELL AN ONLINE COURSE
STEP 1: Choose a niche and identify your target audience
STEP 2: Outline course outline and create engaging course content
STEP 3: Set up course platform and launch course
STEP 4: Promote course
STOCK MEDIA AND GRAPHICS
You can offer up for sale high quality images or videos for commercial use and hence create a source of passive income. They are high in demand as a lot of businesses and creators are constantly in need of good quality images.
WHY STOCK MEDIA AND GRAPHICS?
· Stock media and graphics are very versatile and can be used in various context, for example, social media, marketing materials, and much more.
· It can be re-sold
· Offers opportunity for subscription-based model
HOW TO CREATE AND SELL A STOCK PHOTO AND GRAPHICS
STEP 1: Design high quality graphics/ Capture high quality images
STEP 2: Save in required format (JPEG, PNG, or vector files)
STEP 3: Submit to stock agencies
STEP 4: Set pricing and licensing
TEMPLATES
Creating templates as a digital product is also a good way to earn passive income with an increasingly high demand. You can create various downloadable templates including resumes, wedding invites, business plans and much more.
WHY TEMPLATES?
· They can easily be customized to meet individual need
· They require little to no startup cost
· It can easily be sold in large quantities without inventory or shipping cost
HOW TO CREATE TEMPLATES
STEP 1: Choose a template type and design high quality templates
STEP 2: Test for usability and errors
STEP 3: Set up sales platform
STEP 4: Market and promote template