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Thinking of selling a product to grow your business? What products will sell like hotcakes this year?
Digital products remain the top-selling products to sell online. A digital product is an intangible item or piece of media distributed online. Digital products are often downloadable or streamable. Popular formats include PDFs, MP3s, downloadable templates, and videos.
Because online products do not require replenishment or an inventory, you can create them on your own, distribute them on various platforms, and sell as many as possible.
Digital products have low overhead costs and high-profit margins. They're more flexible than tangible products – there are many ways to incorporate these into your business while having the potential to automate.
But what kinds of digital products sell well in your industry? In this guide, we're listing down the best products to sell online this 2023:
The e-learning industry exploded in 2023, with 90% of companies offering various forms of digital learning and 73% of US students taking online classes after the pandemic. The industry has grown to $240 billion in 2022 and is expected to reach $374 billion by 2026. So don't miss out and start creating your own e-learning products!
What kinds of e-learning products should you sell? You can sell cookbooks, basic how-tos manuals, and ebooks. Use your online following to build hype, attract attention, and sell more e-learning content.
You can create a host of digital assets and charge people to download them. Digital assets can come in the form of photos, digital artwork, music, videos, plugins, etc. You can sell these assets online via online marketplaces like stock photo sites, Shopify, Etsy, and eBay.
And to protect your products from infringement, use a plugin that auto-generates license keys. Add watermarks and other security measures, primarily if you sell photos and text content.
Growing your email list and developing an online community should be a priority when building a business online. You can use your email list for future marketing, particularly if you have plans to build a membership site.
A membership site is ideal for businesses with a growing library of premium content. You can create exclusive, branded, and premium content and sell them in a bundle or individually as paid subscription to generate recurring revenue.
Once you have products to sell, it's just a matter of finding a secure platform for downloading. You can also stream the content rather than turn the products into downloadable forms as an added layer of security. Once set up, you can automate the billing and set up a digital delivery system.
Digital solutions appeal to a particular group of people. Generally, these products solve common pain points or the needs of a specific audience. Some types of templates and tools to sell are:
Custom templates and tools are popular in design and software development industries. If you're a freelance artist or software developer, you can turn your technical skills and/or artistic talents into a money-making venture.
Speaking of artistic talents, you can sell various forms of art pieces online, such as:
You can experiment with different file formats to see which are the most popular among your customers. Remember to add watermarks and other security measures to protect your digital assets.
One-time or monthly subscriptions are popular digital products to sell if you're a service-based business. You could offer consultations for a fee, individual or bundled training programs, mentorship programs with tiered pricing, personalised reports, or customised graphic designs. To make your offers even more tempting, you can throw in an in-purchase incentive like a small gift, a discount, or a sample of another service-based product (free trial, free custom logo, etc.).
Service-based digital products are easy to make and will hold their value for a long time. However, choose everyday tasks that require less time to create and maintain to make these products even more profitable.
There you have it, the best products to sell online this year. Be creative, and consider ways to make your offers valuable and irresistible to ensure maximum profits. There are many ways of creating and reselling digital products; the same goes for incorporating these products into your business to boost exposure!
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