One of the biggest markets out there today is the digital product market. Digital products can be found in every corner of the internet, and if you are considering getting into the business, you will be joining a very lucrative and exciting industry.
In this post, we’ll define exactly what a downloadable – or digital – product is and why you should be using them for your internet marketing efforts.
We will also be looking at some of the ways that digital products are created, along with great advice to help you create some downloadable products of your own. You’ll discover how amazing downloadable products can really be in this chapter.
Defining a Downloadable Product
It seems rather obvious, but the first thing that we must do before moving onto the how’s and why’s is to cover the “what.” What is a downloadable product, sometimes called a digital product?
Well, sometimes the simplest answer really is the best: a downloadable product is something that you can download.
• video content
• basically anything digital that isn’t a physical object that you can hold in your hand.
If it exists only in the digital realm, then you can consider it a digital product.
Typically, a digital product will include several different products in one package, and eBooks are one of the most popular downloadable products out there.
Why Digital Products?
So, why should you get into creating digital products? There are actually a number of reasons why digital products are the way to go when it comes to internet marketing.
Here are a few reasons to consider if you are wondering whether to get into this business or not.
1. Digital products cost nothing to manufacture. Now, keep in mind that the word manufacture here means duplicate. A digital product may cost money to create if you are talking about the original. But once you have that eBook, podcast or video presentation, you can sell multiple copies at no cost to you. Unlike a company manufacturing toilet seat covers, it costs you nothing to create duplicate products.
2. There is amazing income potential. The income potential from downloadable products is extremely high. There have been people that have become millionaires from doing nothing but selling digital products. There are tens of thousands of internet marketers whose income extends far into the six figure range. It is simply a terrific industry with unlimited income potential.
3. The income is passive rather than active. This means that you don’t have to complete a specific action to earn money, such a freelance writer or graphic artist might have to do. Your income will still come in from digital products whether you are there or not, as long as you have done your marketing correctly.
4. Digital products can help you to establish your expertise. Even if you aren’t selling your own products, the fact that you have been working within a specific niche in the downloadable product industry will give you some credibility with buyers.
5. You have a great deal of control. Since you are creating these digital products yourself, you control what information they contain and what level of quality they are at. You also control things like price.
6. Speaking of price, when you sell your own digital products, you have a great deal of control over the price of the product. Since you essentially pay nothing for duplicate copies, you can lower your prices pretty drastically and still make money.
Type of Digital Products
Next, we’ll go over four different types of downloadable products that are out there and how they can be created and used to give you an internet marketing career.
Creating an eBook
The first type of digital product that we’ll be discussing is the eBook – which stands for electronic book. EBooks are meant to be read on some kind of digital device and they can be converted into many different formats for that purpose. For example, many eBooks are simply PDF files, which can be read on any computer that has a PDF reader installed on it. Other popular formats include the .mobi for Kindle and .epub, which is used on several different readers.
The beauty of creating an eBook is that it can literally be about anything, as long as there is a need for it. EBooks can be about weight loss, carpentry, aviation or any industry that you can think of. They can even be fiction. They also can be just about any length.
Even a short eBook that is only 10,000 to 20,000 words can be used for internet marketing. You just have to be able to cover the topic and give people the information that they wanted by getting the eBook.
So, how do you create an eBook? Well, they are really easy to write. All you need to do is sit down and gather the information that you need, create a chapter outline, and then write the book. But not everyone is a writer. Some people don’t even like to compose emails. For those people there is the freelance world.
You can hire someone else to write your eBook for you. There are tens of thousands of writers on the internet from nearly every country in the world.
Prices vary, as does the quality that you’ll get, but you can easily find someone to write your eBook for you.
After that, you just need to convert it into a form that you can use, such as a PDF file or converting it to display on the Kindle, Nook or any mobile device out there.
Creating a Video Presentation
Next, we’re going to discuss creating a video presentation. A video presentation is a video or series of videos that teaches you something. A video presentation can be created by anyone. All you have to do is have someone to give the information, presumably yourself, and a camera to film with. You don’t need an expensive camera either. Many mobile phones have cameras that are of sufficient quality to create a video presentation if the right background and lighting setup is used.
The question is: how do you create a video presentation that is going to be of use to someone. That’s where many people fail at this particular downloadable product.
They put a great deal into the production value of the video presentation, but fail to research the market carefully and find out if a large enough need exists to be able to justify such a production.
So, you want to begin working on a video presentation with an idea. Suppose that you have an idea for an informational product that you really think people need.
How can you be sure that it is going to be well received? The only sure way to do that is by doing some market research and determining what the market is like for that particular product. Are there other people already offering a similar product?
Are they booming in popularity or barely scraping by? Can you offer something better at a competitive price? These are all factors that you need to take into consideration as you are planning your product.
If you have a solid idea, and you can create a video presentation that you know will be of value to people, then all you have to worry about is how you are going to market it.
Creating a Webinar
Next, we’re going to discuss webinars. Webinar is a pairing of the two words “web” and “seminar” because that’s exactly what a webinar is – a seminar conducted on the web.
Webinars are one of the greatest downloadable products there are because you get your income from two ways: you can charge the people who actually attended your webinar, which pays for all of the time invested and then some, and then you can charge to download the webinar.
If you can market your webinars successfully, you can create a very lucrative business that gets visitors to your site and sells them on the idea of a webinar about a specific topic, and then allows them to download that webinar for a nominal fee.
Every dime you make from that point forward is just extra money, but with the right marketing and a large number of webinars, you can create a business of downloadable webinars that makes more than the money that you get from doing one live.
So, how do you know what to create a webinar on? Pick something that you know a lot about and then do some research to find out how much interest there is around it.
The nice thing about webinars is that you will know how many people are attending before you hold it, and you’ll even have the money from attending before you give the webinar, which is the perfect way to gauge interest.
Creating an Audio Presentation
Sometimes, creating an audio presentation instead of a video presentation is the way to go. This will depend upon the information being passed on. For example, you may want to create a presentation that people can listen to while they are in their car.
This is obviously unrealistic with a video presentation. Another reason that an audio presentation might be preferred is if you don’t like being on camera. You can record your voice instead of a video and many people are much more comfortable with that.
But what kind of information lends itself well to audio presentations? There are actually quite a few – probably more than you think. One audio presentation that tends to work really well is a companion is the eBook that we already discussed.
In fact, most downloadable products come in package that might include eBooks, reports, audio files, video presentations or anything you like. The more items you can add to your presentation, the more value it will have for the buyer.
Another is a podcast, which is simply a presentation much like a talk radio program where you might interview an expert in the industry.
There are many uses for audio presentations if you wish to create them or include them with your package.
Choosing Your Method
So, which of these methods do you choose? That’s the tough question for any internet marketer to answer.
In addition, instead of creating your own downloadable product, you have the option to promote something that someone else has created, a practice known as affiliate marketing.
There are some pretty big advantages to creating your own if you can manage it, however.
So, if you have decided to create your own, then you need to decide on which method you are going to use. The first question that you should ask yourself is: what are you passionate about?
If you can create a business around something that you are passionate about then the work involved will not seem like work at all. Creating content, videos, audio files or whatever will be fun instead of work.
But you have to determine two things – if you can make a product out of what you are passionate about and if you can make money from it.
If you love the idea of vlogging and have always wanted to be a YouTuber then you might be best suited for video productions. If you are a great writer, you might be better off creating eBooks.
If you love teaching others in a classroom setting, then webinars are definitely the product for you.