The Types of Best-Selling Digital Products To Generate Revenue For Your Online Business
Today, we will talk about the types of best-selling digital products on the Internet - products that sell through various inbound marketing funnels...
These digital products can turn your website into a cash-sucking monster if you structure them correctly and solve a problem in the market where you are creating them.
What I want to do in this article is talk a little bit about digital products, give you an idea of some of the biggest ones out there, and give you some tips on structuring your digital products to get the biggest bang possible.
There are lots and lots of different ways to generate revenue online. You can generate revenue from advertising, affiliate products, CPA networks, etc... But the best and quickest way to generate sustainable revenue quickly is to create your products to sell.
Digital products have no cost of goods sold, no storefront, no inventory, and no shipping, and are relatively low risk, making them perfect when you're just starting.
DDigital products combine bits and bytes, zeroes and ones, forming this thing that people will download and pay you for.
Some Best-Selling Digital Products Of All Time
You can think of some of the best-selling digital products of all time, like P90X. They started with an infomercial and sold millions and millions of dollars worth of P90X from those television ads and online. What's interesting about their story is that the infomercial failed 23 or 24 times before it made money.
Another one launched four or five years ago was called Amazing Selling Machine (or ASM for short). Excellent Selling System was a course on assembling Amazon FBA products, or physical products, to be sold in the Amazon Marketplace. They went on to make, I think, $28 million in the first year. Now, they are Amazing.com with a membership site.
There was a Frank Kern course called Mass Control, one of the first products to break $1 million in sales in only a few days. Then, John Reese had an offer that was the first to make $1 million in a day.
Those are some of the most fabled, best-selling digital products out there. We (myself and other Internet marketers like me) followed these course creators to launch these products to "model success" and see what they were doing in the space.
What resulted for me was this incredible understanding of creating and launching digital products for you through sales funnels, which we now do to sell our own products and client products.
There are lots of different types of products, which we'll go through in detail.
- Some are created, sold, and consumed online.
- Others are created and sold online but consumed offline (Print On Demand!)
1. Ebooks: Your Ticket to the Best-Selling Digital Products Arena
In today's digital age, ebooks have transcended traditional publishing to become one of the best-selling digital products. From independent authors to big-name retailers, the ebook marketplace is bustling with opportunities for anyone with a good idea and the drive to publish it. Let's dive deeper into ebooks and why they should be on your radar.
What Exactly Are Ebooks?
Ebooks, or electronic books, are digital versions of written publications. They can be read on various electronic devices, including e-readers, tablets, and smartphones. With a wide range of genres and topics available, ebooks have revolutionized how we consume literature.
Why Ebooks Are Dominating the Best-Selling Digital Products List
Exponential Growth
According to statistics from the International Digital Publishing Forum, ebook consumer spending skyrocketed from $1.5 million in 2002 to $2 billion just a decade later. This rapid growth attests to ebooks' significant role in the digital market.
Controversies and Market Dynamics
The rise of ebooks hasn't been without its share of controversies. Major players like Apple and Amazon have faced legal challenges, clashing with established publishers over pricing and distribution. Yet, these hurdles haven't deterred the industry's growth or its appeal among consumers.
Accessibility for Aspiring Authors
The beauty of the ebook industry is its inclusivity. You don't need to be a publishing magnate to make a mark. Aspiring authors can publish their work with minimal investment. For example, Brett Kelly wrote an Evernote guide and sold 10,000 copies at $25 each within eight months.
Popular Niches Within the Ebook Market
Self-Help Guides
These are particularly popular, offering advice on everything from mental health to business success.
Fiction
Genre fiction like romance, mystery, and fantasy are big sellers, allowing authors to build devoted fan bases.
Non-Fiction
Books on specialized topics like history or science also do well, mainly when they cater to a niche audience.
2. Low Content Digital Products: How to Master the Best-Selling Digital Products Market
In a world where digitalization has permeated nearly every aspect of our lives, it's no surprise that the done-for-you digital products now include more than just software or ebooks. Enter the realm of low-content digital products—journals, coloring books, and puzzle books designed for digital platforms. These easily accessible and highly customizable items are a marketer's dream. Here's why.
What Are Low Content Digital Products?
Low-content digital products are precisely what they sound like—digital offerings that require minimal content but offer high value. This could be a printable bullet journal, a digital coloring book, or a downloadable puzzle book. They are designed to fulfill a specific need or solve problems without requiring complex development or a heavy content load.
Why Low Content Digital Products Are Among the Best Done For You Digital Products
Ease of Creation
One of the key advantages of low content for your digital products is how easy they are to create. You don't need to be a software developer or an author to enter this market. With basic design skills and an understanding of your target audience, you can craft products that sell.
High ROI
The return on investment for these digital products is usually very high. The initial costs are often minimal, especially if you design them yourself. And because they are digital, there are no manufacturing costs. Once the product is made, every sale is nearly all profit.
Customizability
These products can be easily tailored to meet specific niche markets. Whether it's a mindfulness journal for entrepreneurs or a puzzle book for dog lovers, there's endless scope for customization, making them some of the best-selling digital products.
Popular Types of Low-Content Digital Products
Digital Journals
Digital journals have exploded in popularity due to their utility and the rise of tablet note-taking apps. They can be weekly planners, gratitude journals, or even specific journals like a "wine-tasting journal."
Coloring Books
Digital coloring books have the advantage of being reusable and easily distributable. Users can color, erase, and recolor as often as they want. They're also easily updated with new designs.
Puzzle Books
From crosswords to Sudoku, digital puzzle books offer endless entertainment. They cater to a broad audience with varying difficulty levels—from kids to adults.
2. Digital Photography: Your Best Selling Done For Your Digital Products?
In an age where visual content reigns supreme, digital photography has become a lucrative avenue for creatives to turn their passion into profit. Whether you're a professional photographer or an enthusiast with a keen eye for capturing the moment, the digital realm offers endless opportunities to monetize your skills. Let's explore how you can transform digital photography into a best-selling, done-for-you digital product.
The Digital Photography Marketplace: A Sea of Opportunities
With the growing demand for high-quality images, digital photography has skyrocketed in value. The market is bustling with platforms like Photocrati, SmugMug, Zenfolio, DigiLabs, Shutterfly, Zazzle, Stock, and Shutterstock, making it easier than ever for photographers to sell their work online.
Why Choose Digital Photography as Your Best-Selling Digital Product?
Huge Market Demand
The photography market is valued in the billions, with a considerable portion coming from everyday photographers—not just corporate giants. Your work could quickly become a best-selling digital product if marketed correctly.
Individual Creativity Pays Off
Unlike other industries where massive corporations dominate, digital photography still leaves room for individual creativity. Your unique style and vision could set you apart in a crowded marketplace.
How to Maximize Profits in Digital Photography
Direct-to-Consumer Sales
Platforms like Sellfy offer photographers the chance to keep a larger share of the profits by selling directly to consumers, sidestepping the intermediaries who often take a significant cut.
Specialization
Finding a niche or specializing in a particular type of photography, such as portraits, landscapes, or wildlife, can help you stand out and appeal to a specific audience, boosting your chances of becoming a best-selling digital product.
Quality Over Quantity
High-quality images that meet professional standards will inevitably sell better. Good equipment and software like Adobe Photoshop can significantly elevate your work.
3. Software and Apps Became Best Selling Digital Products
In the expansive world of digital commodities, software, and apps indisputably stand out as done for you digital products. Whether it's the thrill of potentially becoming the next Zynga or the sheer financial prospects, thousands of hopeful developers are diving into this lucrative market. Let's explain why software and apps rule the digital marketplace and how you can tap into this profitable sector.
The Financial Attraction of Software and Apps
The Numbers Don't Lie
Software and apps have become best-selling digital products because of the staggering revenue they generate. Year after year, the numbers substantiate these digital items' sustained popularity and profitability.
Platforms for Maximum Revenue
While it's true that apps are generally sold through significant platforms like Apple's App Store and Google Play, these remain the most important sources of revenue for the foreseeable future. So, while the reach may seem limited, the income potential is anything but.
Beyond Apps: Other Software That Sells
WordPress Templates
WordPress templates hold their own in the realm of done-for-you digital products. They offer a plug-and-play solution for people to design their websites without requiring coding skills, making them highly marketable.
List-building Plugins
Digital marketers swear by list-building plugins to expand their email lists. These plugins have become indispensable tools for any online business, turning into best-selling digital products.
Databases and Javascript Plugins
Don't underestimate the power of specialized software like databases and Javascript plugins. Catering to a more niche market often means less competition and higher profit margins.
How to Monetize Your Software and Apps
Direct Selling Platforms
Those with developer skills aren't limited to the mainstream app stores. There are alternative forums where you can market your software, increasing your chances of making it among the best-selling digital products.
Freemium Models
Offer a basic version of your app for free and charge for premium features. This model not only brings in direct revenue but also serves as a marketing tool, enticing more users to try your product.
Subscription Services
Software-as-a-service (SaaS) models provide a steady income stream, turning your software into a continually best-selling digital product.
The most discussed and best-selling digital products of all time are apps. Believing to be the newest Zynga, thousands of starry-eyed app creators have jumped into the app industry with total abandon. There's a good-looking reason for this. That "good reason" is the numbers. And numbers, as you're informed, don't lie.
The one revenue-limiting feature of apps is that they can only be sold via app stores like Apple's App Store and Google Play. Although, this is categorically the largest revenue source for now and the foreseeable future. Those who have developer abilities can quickly sell their software on other forums. It's not just apps that sell big. It's WordPress templates, list-building plugins, Javascript plugins, databases, and a complete assortment of other downloadable products.
4. Tutorials and Lessons: A Guide to Done For You Digital Products
Tutorials and lessons have proven their mettle as some of the best-selling digital products. In an age where everyone is eager to learn a new skill or perfect an existing one, digital tutorials and lessons offer unmatched convenience and accessibility. Let’s explore why these educational resources are cash cows in digital products.
Why Tutorials and Lessons Sell Like Hotcakes
The Thirst for Knowledge
In today’s fast-paced world, people constantly look for ways to upskill. Tutorials and lessons feed this never-ending thirst for knowledge, making them popular and lucrative.
Accessibility and Flexibility
The beauty of digital tutorials is that they can be accessed anytime, anywhere. This flexibility is a significant selling point, making these educational resources some of the best-selling digital products on the market.
Different Formats, Different Opportunities
Video Tutorials
The power of visual learning cannot be underestimated. With their dynamic and interactive nature, video tutorials often outperform other formats in sales.
Written Guides and eBooks
Though not as interactive as video tutorials, written guides still hold a firm place in the market, especially for those who prefer to learn at their own pace.
Webinars and Live Sessions
Live educational sessions offer real-time interaction, allowing for immediate queries and feedback. This unique benefit makes them highly valuable and, thus, best-selling digital products.
Monetization Strategies for Tutorials and Lessons
Subscription Models
Consider offering a series of lessons under a subscription model. This provides a steady income stream and creates an engaged customer base.
Bundled Packages
Offer multiple related tutorials as a bundle at a discounted rate. This can encourage bulk purchases, increasing your average transaction value.
One-time Purchase with Lifetime Updates
Offering lifetime updates for a one-time purchase can be an irresistible offer, making your tutorial or lesson a best-selling digital product.