Incorporating just a few digital products into an existing business, can boost sales for a number of reasons. This post will shed light on how an existing business will benefit from a few simple changes that has the potential to go a long way.
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If you're an existing business owner, who has had success selling handmade physical products, affiliate products or physical products that involved drop shipping or print on demand products (for example) you can use those successes to build a digital product business that compliments what you're already doing.
As an existing business owner you have an advantage over someone who is brand new to online marketing. You know what works with your audience.
It's likely that you've used the sales and marketing knowledge you've gained in your existing business to sell products that your audience needs. It's also likely that you've built the know, like and trust factor, making it easier for you to roll out a new product line.
Use your existing audience to introduce your new digital product business, letting them know about your products via your platform, social media and email marketing.
Handmade Products
Let's say you have a handmade business and you're on Etsy, you can add digital products that compliment your existing product line. You can sell them in your shop or open a separate shop on the platform for an additional stream of passive income.
Digital products are usually easier to create, once you've selected a niche and digital products you're interested in making. If so, it may not require the time that it takes to create your unique handmade items.
The great thing about digital products is that they can be created once, uploaded to Etsy (or another platform) and sold over and over again, with delivery via the internet.
So once these items are created, they can be launched, promoted and sold from your Etsy store. Etsy is a brand that is trusted, so potential customers will have no problem buying your items.
Creating a system that allows you to follow up with customers will keep them coming back your shop again and again.
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Physical Products
If you have a physical product business (including drop shipping and print on demand) and you're selling on your own platform, for example, Shopify, you can add digital products that compliment your existing products and sell them for additional, passive income.
The beauty of digital products is that they can be created once, uploaded to your shop, and sold over and over again, with delivery via the internet.
No matter how you obtain your physical products, keep in mind that digital products are different. They can be sold right alongside the physical products they compliment. They can be sold in a separate shop category or in a separate shop created specifically for your digital products. In either case your digital products can link back to the physical products they compliment.
Even if you have no design skills at all, or you lack the time to create them, you can outsource digital product creation to a professional on Fiverr or Upwork.
The digital products you can create can be based on a number of factors, including the products you sell, services you offer, or the niche you serve. Here are a few ideas you can use to get started.
Affiliate Products
Are you selling affiliate products for other brands? If so, a digital product business could be just what you need to bring in an additional source of passive income.
If you've been successful in selling affiliate products, you can use those same concepts to sell digital products. The beauty of learning digital marketing is that you can apply what you know to start additional lines of business.
Once you select a niche and a product you're interested in, digital products can be easy to create. Once they are created, they can be uploaded to your platform and sold over and over again, with delivery via the internet.
You can sell digital products on the same kinds of platforms you use to sell your affiliate products, whether you sell through a blog, an eCommerce store or a marketplace, your digital product business can grow into a serious business asset that you can earn from for years to come.
For maximum impact, the digital products you create should compliment the niche you're currently promoting. Consider the niche, the brand and the products you promote for them.
When promoting your affiliate products, make sure to check your affiliate agreement to see what you can and can't do when promoting the brand's products.
You don't want to co-mingle or bundle your digital products with the brand's products unless you get their permission in writing.
It may be best to create a separate digital product business that works in the same niche as the products you are currently promoting for your affiliate brands.
That way there is no confusion for shoppers when they are reviewing your brand's marketing and the promotions you create for your brand and your new business.
Take a look at some ideas you can use for digital products.
A Service Business
If you provide services, and work with clients on a regular basis, offering digital products might be a profitable way to expand your business. Many tutors, coaches, consultants, virtual assistants, spa and salon owners and more add an additional source of passive income using digital products.
If you have an existing service based business, it will be beneficial to use the same marketing concepts you use to promote your services, to sell digital products.
The beauty of learning digital marketing is that you can apply what you know to start additional lines of business.
Digital products can be uploaded to your platform (blog, shop or marketplace) and sold over and over again, with delivery via the internet.
You can sell digital products on the same kinds of platforms you use to sell your services, including social media, email marketing, eCommerce platforms and online shops. Whether you sell through a blog, or a marketplace, your digital product business can grow into a serious business asset that you can earn from for years to come.
You can use the same ideas mentioned as well as those mentioned below to expand your business.
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