Whether you have heard of digital marketing or not, it is blowing up right now on social media. It is making everyday men and women with no prior marketing skills 3-4 figures a week, sometimes more!
So if you have been looking for ways to make money online (even faceless) to pay off some debts, or just be a side hustle for extra travel money, Keep reading and I'll explain what it is, how it makes you money and how you can Start!
What is Digital Marketing?
Digital marketing is a term that encompasses the use of digital channels, such as the internet, social media, search engines, and email, to promote products or services. It involves various online strategies and tools to reach a target audience, increase brand awareness, drive traffic, and generate leads or sales.
In simple terms it’s about using the online space to market a product that people find and purchase online.
What is a Digital Product?
A digital product is a type of intangible asset or service that is delivered electronically through digital channels. It can take various forms, including software, e-books, online courses, digital art, mobile applications, and other virtual goods. Unlike physical products, digital products exist in a non-physical, downloadable, or online format, making them easily accessible and distributable through digital platforms.
Here are some examples of Digital Products you may have bought at some point or another in your life
Printable Party Invites
Printable To Do Lists
Recipe E-Book
Home Cleaning Tips
Resume Template
Online Course to learn a skill
Why are Digital Products so profitable?
Digital products are one of the most profitable items you can sell because;
Low production and distribution costs: Unlike physical products, digital products don't require materials, manufacturing, or shipping costs. Once created, they can be replicated infinitely at minimal cost. Just think you can spend a few hours making a recipe book once, and have 100,000 people buy the same item.
High-profit margins: With low production costs, the majority of revenue from digital product sales goes directly to profit. This means that even with relatively low sales volume, the profit margins can be significant. If you use Canva.com for example to make your digital products (which is free to join) your recipe book didnt costs a thing! You could sell for $29.99 and that becomes all profit)
Scalability: Digital products can be distributed instantly and globally, allowing businesses to scale rapidly without the constraints of physical inventory or distribution channels. Whether you sell to 100 customers or 100,000, your costs typically remain the same.
Automation: Many aspects of selling digital products can be automated, from payment processing to delivery. Once set up, you can generate sales with minimal ongoing effort, freeing up time to focus on other aspects of your business.
Variety of pricing models: Digital products offer flexibility in pricing models, such as one-time purchases, subscriptions, or tiered pricing structures. This allows businesses to tailor their pricing to different customer segments and maximize revenue potential.
Global reach: With the internet, digital products can reach customers anywhere in the world, breaking down geographical barriers and tapping into diverse markets.
Easy updates and iterations: Digital products can be updated and improved relatively easily based on customer feedback or market changes. This agility allows businesses to stay competitive and adapt to evolving customer needs.
Evergreen potential: Some digital products, such as e-books, online courses, or software, have evergreen appeal, meaning they remain relevant and valuable over time. This can result in ongoing revenue streams long after the initial creation.
How do you Start?
You can start by doing the following;
Identify a Niche based on your passions and skills (Parenting, Relationships, Finance, Cooking and so on)
Brainstorm Pain Points and challenges people have in that niche (eg; struggling with time, lack of information, not having the skills to do something and need to learn)
Create a Digital Product
Open a Social Media Account specifically for that niche only
Set up a Stan Store to house your digital products and take payment
Post Content on your Social Media account to create a community with a link to your stan store to take the payments for your digital products.
Now, this is a quick summary for the purpose of the blog - be sure to grab my free guide to learn in more detail and to help you identify a niche and digital product you could be selling.
It is important to do this in a niche you are passionate about so you stay motivated, and people will feel more trusting when they can see your knowledge and passions in your work and content!
I also highly recommend taking a course like the Ultimate Branding Course. The reason I say this, is that a course will give you hours of information with step by step videos to save you time trying to learn it all by yourself. There are things like setting up your Paypal, How to market on social media, and how to set up your legal documents, that you might need help with. Whilst you can always learn off youtube and blog posts etc, a course save you time to get started much quicker, which therefore means earning profit quicker. I personally took UBC and the Roadmap to teach me everything I know now about creating an online business!
And one of the greatest perks of both, is that they come with Master Resell rights, which means you have the legal rights to resell as your own course, and keep 100% of the profits!
Want Done For You Digital Products?
Now if the thought of trying to create your own digital products sounds scary, and you think "omg I can't do that, I'm so new to all of this" then I'd recommend The Secret Weapon PLR Vault which has done for you digital products, across numerous niches that you can resell as your own. All you need to do is edit colours and make it suited to your brand and business then you're done!
The Secret Weapon PLR Vault is a monthly subscription, if you are wanting a free option then Canva does have templates you can edit, just make sure you do customise it to make it unique if you are reselling, don't just use what is done and sell exactly that.
I'd also suggest looking at Etsy for digital products that come with Private Label Rights or Master Resell Rights so that you can edit them and sell. These are the terms you want to look for in order to know you can resell them.
Got any other Questions?
Let me know in the comments or send me an email hello@thewealthyavenue.com. You can also follow me on Instagram @thewealthyavenue and my free digital marketing guide can be found on the home page.
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