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What is a Digital Product?
A digital product is any product that gets created, sold, and utilized in the digital space that doesn’t have a physical form.
The physical products industry is shrinking at a faster rate. And the online products started ruling the economy of most businesses. The most profitable digital products like eBooks, live webinars help to leverage business via digital media.
Along with digital marketing, most startups are integrating these digital product concepts to make brand awareness and to build passive income streams.
The easiest method of creating a passive income stream is by selling these most profitable digital products, and this industry is in an exponential growth in the present transforming digital arena.
Today I want to share my knowledge on the topic of “Most profitable digital products to sell online.” Before that, I want to clear some commonly asked queries by many digital entrepreneurs and marketers.
How to Create a Digital Product?
The following are the outlined steps to create a successful digital product:
- Choosing a profitable niche.
- Brainstorming a winning product.
- Creating the actual product.
For briefly understanding the above steps to create a digital product, check out the following video.
How to Sell a Digital Product?
The easiest way to sell a digital product is to create an e-commerce website on any web hosting platform. You can easily set up payment gateways, and an interface to share the product links that you would like to sell.
There are platforms to sell digital products online like Gumroad, Sellfy, Chec, Ducksell, and Zipsell, where you can find all-in-one solutions for selling digital products directly to your audience.
Unlike e-commerce, you can create a website by providing valuable content through optimized SEO articles and up-sell your product on the sites.
The most profitable way of selling digital products is by building a strong personal brand and recommending your products to your mass audience.
Here are my top 9 picks for most profitable digital products to sell online in 2020. Most of the following products can be created by every person who knows any niche, time for creating and selling digital products.
If you want to create your digital product, you need to look into this list (alphabetical order).
So, let’s dive right into these most profitable digital products and let us study how to sell online.
Top 9 Most Profitable Digital Products to Sell Online in 2020.
1. Audio products
Audio content is one of the dominant digital products used for communicating, sharing information, and entertaining the audience. With the increasing trend in education and entertainment, online audio product selling is becoming popular day by day.
The following are the main audio digital products that you can sell things online:
- music files
- sound effects
- recorded sessions
- Music creation software
- Audio plugins
- Reusable audio content
People spend their money on entertaining themselves through audio products, and many people prefer to get inspired by consuming audio content. So, every customer listening to your podcasts, audiobooks can contribute to your passive income streams.
The software like adobe audacity, audio cutter, and Ocenaudio helps you create and edit audio products. You can also sell your audio products on platforms like iTunes, audible ACX, audio lessons course platforms, and e-commerce platforms.
Simply you can start with creating podcasts in 2020 by selecting your favourite niche and continuously providing valuable audio content.
You can visit the podcast insights site to learn how to make passive income by creating podcasts.
Creating a brand website and acquiring followers and subscribers is the best way to leverage income through audio products if you have a passion for producing audio content.
Everybody is changing their learning platforms from offline to online due to the rapid growth of internet services. The gig economy is going to be the next big thing in online services.
Creating an online course is becoming easy for many professionals as they know how to present their skills. And it is the purest form of creating wealth by selling valuable courses with the help of online platforms.
You can easily add value to other’s lives through these online courses. An online course needs to provide a great benefit to the audience, and it should change something in their life.
You can teach growth hacking skills, web development skills, entrepreneurship skills in the form of interacting video lessons to your audience.
Video content is going to account for a maximum of 82% of total internet traffic by 2022 because users want to consume videos rather than text lessons.
The platforms like Udemy, Teachable, and Thinkific are useful for creating and teaching online courses, and you can make passive income by selling these courses in the form of:
- Paid email subscription course.
- Paid to learn management system course.
- Web-based membership courses platform.
Documents are the resources that come in different forms, such as guides, reports, and manuals. If you are running an authoritative blog about any niche, blog posts within your blog can turn into useful document guides, and you can sell them.
From documents, you can share your knowledge in the form of useful templates and PDF files.
Most bloggers use these documents and templates as an ethical bribe lead magnet to build their email list. For example, the following is a lead magnet for the Optinmonster blog for collecting emails.
You can create different forms of the same document by varying its language and periodically uploading fresh content.
eBooks are the most popular and most profitable digital products that get sold as an informational product. It is always advisable to start your digital journey by creating and selling an eBook.
You can create a simple eBook on any topic that you have experience and adds value to the readers. Either you are a marketer, coder, gaming expert, there is always an excellent opportunity to provide value for others by creating an eBook.
Creating a simple guide in the form of an eBook is very easy. You just need to convert your unique ideas into text with relevant images. So, it takes only a few hours to create your first digital product.
Follow the simple and detailed guide to create your eBook from Hubspot blog. Try to add some valuable content that your readers understand and show them how to achieve those results.
5. Graphic designs and photography
When it comes to creativity, no one can create designs like an expert graphic designer. If you are familiar with tools like photoshop, illustrator, and Canva, there are more opportunities out there to monetize your skills.
Most digital artists, graphic designers make good wealth by creating and selling unique themes, designs, logos, templates for social media, and sketches. The quality of these designs defines the cost of these products.
If you are an expert in graphic designing, scale your knowledge by learning photography, digital art production, which has a vast market, and you can get established by providing valuable services.
6. Online tools
The digital tool is another type of digital product that gets easily integrated into all the above-discussed products. You can convert every digital product as a tool and make money by selling it.
In the digital space, there is always a need to perform tasks like creating designs, website building, editing, proofreading. Several free and paid online tools can achieve this.
You can even create tools to create digital products. Many people want to invest in these types of most profitable digital products and tools, as they want to spend more time and money to learn new things.
This industry is another excellent revenue generator for coding experts. Coders have greater flexibility in developing different types of online software, and they can turn their coding skills into money.
This software industry is continuously growing from producing a wide variety of most profitable digital products like desktop software, plugins, SaaS products, apps, and games.
SaaS product service is also an exponentially growing industry and estimated that the digital cloud application market would reach $113.1 billion at the end of 2021. Examples of the best products to sell online in this category are Ahrefs and SEMrush.
As a coder, if you have a software idea to solve the problems of the customers, you can enter into this digital product industry.
8. Specialized services
These services are not like above mentioned online products, but they get sold like all most profitable digital products. In these service products, you will sell your time in exchange for money to yield a specific output.
The following is the list of most popular online services that you can provide:
- Web designing
- Graphic designing
- Tutoring & coaching
- PR services
- Video production
- Lead generation
The selling of these types of services has increased about three times on websites like Sellfy, SendOwl in this year. So, we can observe a significant increment in the revenue of this industry in the upcoming years.
Nowadays, videos have become powerful tools for delivering information online. Everybody is looking for video content to grasp knowledge rather than textual content because of a gradual decrease in the user’s short attention span.
Many teaching experts are adopting online education, and influence by delivering lectures through the Zoom app, teachable platforms. In the coming years, the earning potential by these channels is increasing.
You just need to deliver useful video content to users so that they get benefited in their lives. And video content is going to grasp 80% of total internet traffic by the next two years. So. It is one of the most profitable digital products out in the digital world.
Let’s conclude with some words.
Also read: How to Create a Digital Product
I can say that the digital products industry is rising as everything is heading online. You are just 1 step away from creating your first digital product by converting your idea into a profitable product or service. You need to provide quality in your digital product rather than quantity. Did I miss any digital product? Or if you have any other suggestions regarding the most profitable digital products, please mention in the comments section.
Frequently asked questions
What kind of digital products sell best?
eBooks, software, videos, and graphic designs are the best-selling digital products. These products can be created easily with zero to less investment and sold at a reasonable price.
What are the best platforms to sell digital products?
The platforms like Shopify, Sellfy, Gumroad, SendOwl, and E-junkie are famous for selling any type of digital product.
How to deliver digital products to buyers?
Once a buyer purchases your product, they will see a download page at the end of the purchasing procedure. Or you can also send via Email with their paid invoice.
What is the difference between a digital product and a digital service?
A digital product is in the form of a file, tool, or app in the digital medium. Whereas, digital service is the one in which you invest time for money to provide value for your customers.