Quick summary: Ready to turn your digital creations into cash? Dive into our blog on “15 digital products…
Quick summary:
Ready to turn your digital creations into cash? Dive into our blog on “15 digital products to sell online and make money in 2024.” We’re breaking down the hottest trends—from e-books to online courses—so you can find your moneymaking niche. Whether you’re a pro creator or just starting, this guide to sell digital products is your ticket to cashing in on the digital wave. Let’s explore the future of online income together!
What is digital product selling business?
A digital product selling business is basically selling stuff online that people can download or access digitally. Instead of dealing with physical things like shirts or gadgets, you’re offering things like e-books, software, online courses, or even digital art.
It’s a cool way to run a business because you don’t have to worry about shipping boxes or making sure things don’t break in the mail. You set it up, someone buys it, and they get it instantly in the digital world – simple as that!
Importance of selling digital products
The importance to sell digital products has become more pronounced than ever before. This shift from traditional goods to digital offerings brings forth countless advantages for businesses and creators alike.
Global accessibility: Reach a global audience effortlessly, breaking down geographical barriers. Cost-efficiency: Lower production costs benefit both sellers and buyers, promoting affordability. Continuous revenue: Digital products enable recurring income through subscriptions or updates. Adaptability: Easily modify and expand digital products based on feedback and market trends. Environmental impact: Reduce environmental footprint by eliminating the need for physical production and shipping. Ease of distribution: Effortlessly distribute digital products through online platforms for instant access. Scalability: Experience limitless growth without concerns about physical inventory constraints. Empowering creators: Democratise entrepreneurship, allowing creators to showcase and sell digital products globally.Potential for making money online with digital products in 2024
Things are changing fast, and there are exciting chances for people and businesses. One big opportunity is making and selling digital products. This includes things like e-books, online courses, apps, and digital art. Now, let’s explore how these digital products can assist you in 2024.
Ebooks and guides
Payhip
Ebooks, short for electronic books, and guides refer to digital publications that can be accessed and read on electronic devices such as e-readers, tablets, and smartphones.
They come in various formats, including PDFs, EPUBs, and MOBIs, providing readers with a flexible and convenient way to consume content.
As per Statista:
The projected revenue for the eBooks market in India has reached to US$214.70 million in 2023. Anticipated to grow at an annual rate of 6.28% (CAGR 2023-2028), the market is estimated to reach US$291.10 million by 2028.
Benefits
Portable & accessible: Ebooks offer a convenient, pocket-sized library for readers anytime, anywhere. Interactive features: Unlike print, Ebooks include hyperlinks and multimedia, enhancing engagement and learning. Eco-friendly: Digital formats reduce paper consumption, promoting sustainability in publishing.Visit Instamojo’s online store for more than 50 free ebooks that can guide you in growing your eCommerce business.
Related read: How to sell eBooks and make money
Online courses
Coursera
Online courses refer to educational programs to sell online, allowing students to access lectures, materials, and assessments remotely.
These courses can cover a wide range of topics, from academic subjects to vocational skills, and are often offered by educational institutions, businesses, and independent instructors.
According to Statista:
The expected average revenue per user (ARPU) in India’s Online Education market is forecasted to be US$35.99 in 2023. By the year 2028, the user count in the Online Education market in India is projected to reach 287.6 million.
Coursera
Take a look at this LIVE demonstration showcasing how we created mojoVersity – India’s premier learning platform for entrepreneurs and small businesses in just one month on Teachable.
Related read: How to sell online courses
Benefits
Accessibility & flexibility: Online courses overcome geographical barriers, offering global access and flexible scheduling for learners. Diverse options: The digital view democratizes education, providing a wide range of courses for varied interests and career goals. Self-paced learning: Many courses allow students to learn at their own pace, accommodating individual learning styles.Also, witness how Deepak Kanakaraju oversees his digital marketing courses using Instamojo.
Also, you can opt for the smart pages by Instamojo. But, hiow they can be beneficial for the business?
Well, Instamojo’s Smart Pages offer a user-friendly platform for businesses to effortlessly create and customize professional web pages, integrating payment options and marketing tools to enhance online visibility and drive growth.
With easy setup and built-in analytics, businesses can showcase products, services, and events, optimizing their online presence for increased sales and customer engagement.
Check out this cool Smart Page for online courses! Aryan and Deepanshu created 30DaysCoding, a super helpful platform for coders at any skill level. They’ve got awesome courses, project help, a friendly community, and personalized learning to boost your coding skills.
Create your smart landing page
Stock photos and videos
Stock photos and videos are professionally shot and curated visual assets that are available for licensing and use.
They cover a diverse range of subjects, themes, and styles, providing a convenient and cost-effective solution for individuals and businesses seeking high-quality visuals without the need for a dedicated photoshoot or video production.
Benefits
Efficient & affordable: Stock visuals save time and costs, with diverse options for creators. Brand consistency: Businesses use stock images for a cohesive visual identity. Global access: Stock platforms provide visuals across boundaries for diverse audiences.Related read: eCommerce product photography
Mobile Apps
Mobile apps are software applications designed specifically for use on mobile devices, such as smartphones and tablets.
Appventurez
These applications are typically downloaded and installed from app stores, providing users with quick access to a wide range of services, tools, and entertainment.
A research conducted by Broadband India Forum (BIF) indicates that app expenditures are estimated to hit approximately $800 billion (?64 lakh crore) by 2030. Considering the expected size of the Indian economy to be around $6,600 billion by 2030, the app spending is anticipated to constitute roughly 12% of the GDP.
Benefits
Enhanced user experience: Optimized for smartphones, apps offer intuitive controls and responsive design. Personalization: Users can customize settings and content for a more engaging experience. Offline functionality: Many apps offer offline access, beneficial in areas with limited connectivity.Graphic design templates
Graphic design templates are pre-designed layouts or files that serve as a starting point for creating various visual materials.
These templates encompass a wide range of applications, from social media graphics and presentations to business cards and marketing collateral.
They offer a structured framework that can be customized to meet specific design needs while significantly expediting the creative process.
Benefits
Time efficiency: Save time by refining templates for project needs, skipping initial design stages. Consistent branding: Templates maintain a cohesive brand identity with predefined elements. Adapt to trends: Stay relevant with current design trends through adaptable templates.Related read: Website design trends that’ll wow in 2024
Webinars and virtual events
Webinars and virtual events refer to online seminars, conferences, and gatherings that take place over the internet.
As per Frost & Sullivan, the projected value of the webinar market is expected to reach $4.44 billion by the year 2025.
Utilizing web conferencing platforms, participants can join from anywhere in the world, engaging in discussions, presentations, and collaborative activities without the need for physical presence.
These events leverage technology to create immersive and interactive experiences in the digital sphere.
Benefits
Global reach: Break geographical barriers for a worldwide audience, promoting broader engagement. Data and analytics: Gather valuable insights through analytics for improved planning and future event refinement.Have a look at Deepak Krishnan’s smart page for “Building Product Sense Through Deconstructions” workshop that will explore product intricacies in a 2-hour live session, featuring 19 techniques, live deconstruction of a popular product, and practical tips. Ideal for aspiring and practicing product managers, startup founders, engineers, designers, and anyone curious about how great product decisions are made.
Related read: How to host webinars and online events
Podcasts
Podcasts are digital audio files made available for streaming or downloading on the internet. Typically episodic, podcasts cover a wide range of topics, including news, storytelling, interviews, education, and more.
They offer a convenient and portable way for audiences to engage with content, allowing listeners to tune in at their own pace through various platforms and devices.
Benefits
Diverse content: With a vast array of subjects and genres, podcasts cater to diverse interests, ensuring content for everyone. Engagement: Audio storytelling promotes intimacy, creating a personal connection between hosts and listeners, boosting engagement.Related read: How to start a podcast
Explore “mojoMakers,” a podcast channel crafted by Instamojo for small businesses.
Printables and planners
Printables and planners refer to downloadable digital files or physical sheets designed for printing. These materials often include calendars, to-do lists, habit trackers, and various organizational tools.
They provide individuals with a tangible and visual means of planning and organizing their schedules, tasks, and goals.
Benefits
Customization: Printables allow users to personalize content to meet specific goals, making them a highly customizable organizational tool. Analog engagement: In a digital era, printables offer a tangible and analog alternative, providing satisfaction through physically writing tasks and plans. Focus and productivity: Physically engaging with a planner contributes to improved focus and productivity, encouraging a sense of accomplishment. Visual progress: Printables often feature visual elements like charts, aiding users in visually tracking progress and gaining motivation over time.Membership sites
Online Membership Industry Report
Membership sites are online platforms where individuals subscribe or become members to access exclusive content, services, or community features.
This subscription-based model allows creators, businesses, and organizations to offer specialized content and perks to a dedicated audience, often behind a paywall or membership fee.
Benefits
Exclusive access: Members enjoy exclusive content, encouraging a sense of belonging. Steady revenue: Recurring model provides a predictable income stream for creators. Community engagement: Builds engaged communities, encouraging interactions and collaborations. Personalized content: Tailors content based on member preferences, enhancing relevance.Digital art and illustrations
Digital art and illustrations encompass a wide range of visual creations produced using digital tools and software.
Artists leverage graphic tablets, styluses, and specialized software to craft intricate designs, paintings, and illustrations. This digital approach allows for unprecedented flexibility, creativity, and the integration of various artistic techniques.
Benefits
Versatility: Digital art allows unlimited experimentation with styles, colors, and techniques. Efficient workflow: Digital tools streamline editing and experimentation, accelerating the creative process. Global reach: Instant sharing on online platforms connects artists with a worldwide audience. Collaboration: Digital art nurtures collaboration and community building through online platforms.WordPress themes and plugins
WordPress themes and plugins are components that enhance the design and functionality of websites built on the WordPress platform.
Themes control the visual appearance of a website, determining its layout, color schemes, and typography. Plugins, on the other hand, are software modules that add specific features, functionalities, or integrations to a WordPress site.
Benefits
Design consistency: Themes maintain a cohesive look, allowing easy customization without altering content. Enhanced functionality: Plugins add features like forms and SEO, providing a modular approach for tailored websites. User-friendly customization: WordPress themes and plugins are user-friendly, democratizing website development. Scalability: Themes and plugins enable scalability, adapting to evolving needs for dynamic websites.3D models and assets
3D models and assets are digital representations of objects, characters, environments, or scenes created using three-dimensional geometry.
These virtual constructs are designed using specialized software and can be utilized across diverse industries, including gaming, animation, virtual reality, architecture, and product design.
Stratview research
3D models serve as the building blocks for crafting rich visual experiences in the digital domain.
Benefits
Visual realism: Enhance realism in video games, architecture, and simulations for immersive environments. Versatility: Widely applicable, 3D models serve in design, from prototypes to animations and medical simulations. Efficient prototyping: In product design, streamline development with 3D models for visualization and cost-effective testing. Enhanced interactivity: In gaming and virtual reality, 3D assets improve interactivity, enabling exploration and interaction with lifelike simulations.NFTs (Non-Fungible Tokens)
NFTs, or Non-Fungible Tokens, are unique cryptographic tokens that represent ownership or proof of authenticity of a specific digital or physical asset.
Unlike fungible tokens, such as cryptocurrencies, each NFT is distinct and cannot be exchanged on a one-to-one basis with any other token.
Blockchain technology typically builds NFTs, offering a decentralized and transparent ledger for ownership and transaction history.
Benefits
Digital ownership: NFTs certify digital ownership, simplifying transactions for artists and collectors. Monetization for creators: NFTs offer creators direct sales and earnings from resales, promoting lucrative relationships. Decentralization & transparency: Blockchain ensures NFTs benefit from decentralization, reducing fraud risk and ensuring transparent ownership records. Innovation in digital expression: NFTs drive digital expression and innovation, creating markets for virtual assets and unlocking creative possibilities.Virtual Real Estate
Virtual real estate refers to digital spaces or properties that exist in the virtual realm. These spaces can range from virtual worlds and metaverses to digital marketplaces and platforms.
Similar to physical real estate, individuals can own, develop, and trade virtual real estate, providing unique opportunities for creativity, investment, and social interaction.
Benefits
Digital ownership: Allows individuals and businesses to claim and invest in virtual assets through buying, selling, and development. Creative hub: Virtual spaces serve as a dynamic canvas for creative expression, boosting a vibrant ecosystem of digital creativity. Community interaction: Facilitates social interaction and community building in digital spaces, connecting users across geographical boundaries. Monetization opportunities: Provides various avenues for income, such as hosting events, selling virtual goods, and charging for exclusive access, enabling virtual property owners to generate income.Affiliate marketing products
Finances Online
Affiliate marketing products are items or services promoted by affiliates—individuals or entities who partner with businesses to drive traffic and sales.
Affiliates earn a commission for each sale or lead generated through their marketing efforts.
Marketers promote these products through various online channels, ranging from physical goods to digital services.
Engaio Digital
Benefits
Diverse reach: Affiliates tap into niche markets, diversifying marketing channels and expanding the brand’s reach. Risk mitigation: Commissions are only paid for actual sales, reducing the risk associated with traditional advertising. Passive income: Affiliates earn ongoing commissions for sustained sales, providing a potential source of passive income.Is it profitable to sell digital products?
Absolutely! Selling digital products can be quite lucrative. Since digital products are typically downloadable or accessible online, there’s no need for physical production or shipping costs. This means higher profit margins for sellers.
Plus, you can reach a global audience without worrying about geographical constraints. However, success depends on factors like product quality, marketing strategy, and understanding your target audience.
If you can nail these aspects, selling digital products can be a smart and profitable move!
Boost profits with your simple digital sales solution at Instamojo
The digital product surge in 2023 reshaped consumer preferences, emphasizing accessibility and versatility. As we move to 2024, Instamojo emerges as a pivotal player in navigating this industry by helping you set up your online eCommerce website today.
Instamojo simplifies digital sales with its user-friendly platform, ensuring a seamless setup for both new and experienced creators. The focus on secure transactions boosts trust in financial interactions, a critical element in the digital marketplace.
Beyond this, the platform provides essential marketing tools, enabling strategic promotions and discounts to enhance digital product visibility.
So what are you waiting for? Create an online business for to sell digital products now!