Selling Digital Products the ins & Outs!
The basics behind digital products
What are digital products?
Imagine being able to translate your knowledge, creativity, and passions into something concrete that can be used online.
This is exactly what digital products are! They are products that exist in digital form and are sold and consumed over the Internet. There are no storage or shipping costs involved, just pure value delivered directly into the hands of your customers.
Why create and sell digital products?
Have you ever wondered whether you prefer to exchange your time and effort for money, or to create a way to generate income even when you're not actively working?
Digital products are a great way to establish passive income. You invest your time and effort in creating them, and then these products can be sold repeatedly without requiring your presence every time.
The digital world offers a wide range of opportunities to create amazing products, such as e-books, online courses, podcasts, and many more. With the right approach, you can tap into the diversity of the digital world and make your mark in this colourful market.
Quick Tips
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Quick Tips 〰️
Ideally, you want a mix of each of digital product to sell/offer.
This provides your audience with variety and meets each person where they’re at financially and investment-wise in their journey.
Common Tiers to Digital Products
Lead Magnet: Free
A lead magnet or freebie is a free piece of content that is offered in exchange for a person’s contact information. It’s used to bring value and start building trust with your audience
Low TIcket: $1 - $50
Low-ticket digital products are an affordable digital item, usually priced at a relatively low cost between $1 - $50. This makes them easier to sell and more accessible to a greater audience
Mid-Ticket: $50 - $100
Mid-ticket digital products are slightly higher-priced items that offer more value. They’re a good middle ground between your lower ticket items and your higher ticket items.
High Ticket: $100 +
High-ticket digital products are higher-priced items that offer strong value. They’re usually quite comprehensive, which means they take longer to make. But the advantage is that you can sell them for higher profits.
Types of Digital Products
01 | eBooks
These are digital books available in electronic format, downloadable and readable on devices like e-readers, tablets, or computers. Canva is a great place to make these.
02 | Online Courses
An online course is a structured educational content that typically consists of videos, presentations, quizzes, and assignments. It is accessible through a learning management system. Popular e-course platforms include Teachable, Thinkific & Kajabi.
03 | Graphic Design Assets
Any type of digital asset such as stock photos, illustrations, icons, fonts, templates, or design elements used for various creative projects. Canva is a good place to create these, but you can really make them on any creative program.
04 | Webinars & Workshops
These online seminars, workshops, or training sessions that can either be live or recorded. They cover specific topics or skills related to creative projects and are similar to online courses. There are several platforms where you can host these sessions, including WebinarNinja, Demio, and Livestorm.
Done-For-YOU
What are they?
A done-for-you digital product solves the problem of creating a digital product from scratch. It is a pre-made digital product that you can resell as your own with 100% profit. No commission requirement.
Why would I want one?
If you're looking to start an online business and make money quickly, using an existing product can be a good option. This is because it saves you the time and effort of creating a product yourself.
Additionally, if you lack the knowledge or experience to create your own product, selling an existing one can still be a valuable opportunity. By selling an already-established product, you are leveraging the creator's expertise to offer something of value to your audience.
Different types of DFY products
The most common are private label rights (PLR) and Master resell rights (MRR)
Private Label Rights (PLR)
Private Label Rights (PLR) for a digital product are a type of licensing agreement that grants specific rights to buyers.
The creator or owner of the product allows purchasers to modify, rebrand, and resell it under their own name. However, the product must be renamed and rebranded to make it unique to the buyer. It is usually provided in a template format to facilitate this process.
Master Resell Rights (MRR)
If you have Master Resell Rights (MRR) for a digital product, you have the right to sell the product and also sell the rights to sell the product to others. However, you usually can't modify or claim the product as your own.
MRR products come with specific reselling terms, but they always come with 100% resell profits.
Next Steps?
Working in the B2B Space and want to help small businesses get online? Get started with your own D-F-Y product vault today!
Find out more here
