Have you been looking for ways to scale your service-based business? Are you at a point in your business where you want to expand your impact and income? This blog speaks to you about how you can use the power of digital products to add to your service-based business. If you already have an established business looking for a boost in revenue and sales, creating digital products that sell online is the icing on the cake. With the digital product space being a multi-million dollar industry, a digital product agile methodology can leverage great value to your brand.

What are digital products, and what makes them appealing?

The word digital means everything to do with the internet. A digital product is an intangible asset that can be repeatedly sold and distributed on an online portal without having to worry about creating new inventory. Many entrepreneurs make a lot of money only around digital goods. What makes digital products appealing is that they only need to be created once without being replenished and can be sold to different customers. Digital products are ideal for bloggers, educators, students, creative people and freelancers.

What do digital products really encompass?

Digital products can be created for almost all businesses with research and creativity. This comprehensive list of grand ideas can get you ticking on your digital journey.

  • Educational products
  • eBooks
  • Online courses
  • Memberships
  • Graphic design work
  • Digital templates
  • Craft patterns and downloadable prints
  • Stock photography
  • NFTs
  • Software and games

The Big Benefit of selling your own digital products

Building a product that can be sold online is way cheaper than building a brick-and-mortar store.

  • Low overhead costs
  • Global reach
  • Irresistible profit margins
  • The digital way is futuristic and bright
  • No barriers to entry
  • Digital products don’t expire
  • Easy to manage and deliver
  • A great sense of freedom
  • Passive income
  • The benefit of creating a global community

The process: How can you create a digital product development framework?

A digital product development framework allows you to envision your digital product and consider the possibilities and opportunities before putting your product online. It’s really no rocket science if you invest your time and resources in creating a digital product around your expertise.

#1 What are the deliverables you hand to clients?

What is your deliverable? Do you work business to business or business to consumer, there’s a specific deliverable you work on that will help you create your product. For example, an expert travel agency can consider leveraging their vast experience and knowledge, into a digital product that can be easily purchased online. So, you have leveraged your product knowledge into a digital product with a link to purchase, and this way has created a passive income for your business.

#2 Brainstorm what you can create that would attract people

If you don’t have a deliverable in place, think of ways you can work on creating a product that will lead people to buy. For example, you can get in touch with your social media followers through a live chat to get some interesting product leads and use that data to create a product. Think about what can really push your customers to make a purchase.

#3 Think about how you can use the digital product in your main service offering

It is important to remember that digital products should complement your main service offering. A digital product doesn’t necessarily need to take over your business, and it’s about putting a sum of effort of your vast knowledge and experience into a product that can bring you freedom and enhance your finances.

How to be a pro at selling digital products in 5 easy to follow steps

#1 Pick the right kind of product that will sell

The first step to go ahead is to decide on and create a product. For example, you could resell an existing product or create a new one altogether.

#2 Work on building your online store

Building an online store for your business could be like proofing it for the future. Consider using your project’s e-commerce website builder or an online store builder. You might want to hire a digital agency at this stage to help you glide efficiently.

#3 Create an app or use an existing app to make selling easy

There are a number of apps that make the delivery of digital products easy. Look for an app with robust features that does everything from hoisting content to delivering PDF purchases. You may want to consider launching your own app too.

#4 Start listing your product

Consider listing your product online with the help of software tools, apps or plug-ins that automate the listing process. If you are still a start-up, you can consider uploading your products manually, which is a cheaper option but can lead to data entry blunders.

#5 Create a brilliant marketing strategy to sell online

Make sure you optimize your online store for search engines, which is vital for your digital product. Next, consider driving traffic to your store through sensible blogging and high-quality keyword-rich blogs to appear in relevant searches. Lastly, consider using online ads to promote your store.

Why should you go the Parashift way ?
Parashift is a digital product development company that employs agile development methodologies to deliver digital products at speed by creating a great user experience which is enhanced by the intricate design and product strategy. We stay with you even after the product launch, for further development that may include updates and evolving features to meet user needs and expectations.

Get in touch with us to launch your next digital product.