An online store is not limited to physical products. It can be a digital products store that sells eBooks, training courses, instruction manuals, applications, or any product that exists in the computer.
Selling digital products require less overhead and maintenance. Some sellers even decided to create their own products like instruction manuals in PDF format and eBooks.
Unlike online retailing, there is no need to ship items, order items from a manufacturer or reproduce items physically.
WHO SHOULD VENTURE INTO SELLING DIGITAL PRODUCTS?
Most people venturing into selling digital products are those who develop their own. The most common types of sellers are eBooks and instruction manuals sellers. Apps are also easy to sell and even if you are not a developer, you can venture into this type of business model.
As long as you have an idea, you can either hire a writer to create content for your eBook or instruction manual or developers to create your app.
HOW TO START A DIGITAL PRODUCTS STORE
As mentioned above, you need to have a digital product to sell. If you can create your own it means a lower overhead for you but if you do not know how to digitize them then hire the necessary people and subscribe to the online tools that you need.
The next thing on your list is to create a website and register your domain name. You also need a hosting service to launch your site to the web. Domain names can be bought at NameCheap. Hosting services like Bluehost and Hostgator provice website development services as well.
Online store builders like Wix, Weebly and Shopify let you create online stores without hiring a developer. These platforms also include their own hosting services.
You need to include a merchant account and shopping cart into your web design in order to accept payments.
Finally, your products and store need to get heard so you need SEO, video marketing, social media marketing and email management tools to launch your marketing campaigns.
EARNING POTENTIAL OF DIGITAL PRODUCTS
The difference between digital products and physical products is duplication. If you are selling baskets and you have 100 orders, you need to manufacture 100 baskets. But if you are selling an eBook and you have 100 buyers, there is no need to manufacture more eBooks. Yearly subscriptions would cost less than $1000 dollars to maintain your website. The cost of creating new products would depend if you will create them yourself or you would hire freelancers or developers.
It would take less than a week to build your storefront and about a month to get results from your marketing campaign. All in all, give it a month or two to get visible results.
SELLING DIGITAL PRODUCTS AS A PROFITABLE ECOMMERCE BUSINESS
Digital products do not require physical storage and maintenance. The overhead is cheaper compared to traditional businesses, and there is always a need for such products. Click on the blueprints below to learn more about building your online store to sell digital products.