The Real Truth About Selling Digital Products Online In 2024

It’s 2024, and selling digital products is changing the way people work online. Whether you’re looking for a side hustle that allows you to travel or build a brand that focuses on the best digital products to sell online, this new and emerging market is giving so many people the flexibility and freedom to make money online. 

Digital downloads come in all shapes and sizes and make it easier than ever to soak up new information or fulfill a need by simply downloading a course or product. Whether it's a digital design file, a digital content planner, or even a video game download, digital products are gaining popularity worldwide.

In fact, it’s the video game industry where you’ll find the biggest change; in 2018, digital purchases made up 83% of all video game purchases in the United States.¹ 

Now has never been a better time to start selling digital products online. Whether you’re looking to build your entire business around digital products or you want to sell digital downloads alongside physical products, if you have an online business idea, then start selling digital products online right this second!

Can I Sell Digital Downloads?

Yes, basically anyone with a WiFi connection can set up a store and start selling digital downloads. But there are a couple of things you should consider before you jump on this trend. 

One factor to consider is the creation and maintenance of an online storefront. In the past, this may have limited the selling of digital products to only the most tech-savvy, but with EDP, you can easily set up a store page, import files & keys, and start selling almost immediately. 

The most important thing to consider is whether the product you’re selling is suitable to be sold as a digital product. So, let’s talk about the best digital products to sell this year.
 

What Are The Best Digital Products To Sell?

Your digital download business success depends on your product choice. Yet, not all digital products are made equal. Some will be easy to sell; others will take more marketing effort on your part. But if a product exists in a digital format, theoretically, it can be sold online.

As mentioned earlier, the most popular digital products are often video game downloads, in-game content, movies, TV, and music. However, there are countless examples of digital products from a number of different industries, including education, entertainment, tools, and templates.

Below are just a handful of digital products that you can market online and start making money from.

• Online courses: E-learning is booming right now, and online courses, including presentations, video walkthroughs, and quizzes, can help you supercharge your digital download sales potential. Students will either download one course or sign up for a subscription, and this type of product is often easier to sell and market. 
• Licensed content: This can include stock photos, music & sound effects.
• Online services: Professionals from all walks of life can sell online services, whether they’re designers, photographers, or personal trainers. So, if you have a skill that’s in demand and a certain level of experience, start making money online by positioning yourself as an industry expert.
• Entertainment: Digital storefronts like EDP make it significantly easier for aspiring musicians, filmmakers, and video game designers to make money from their work and build a loyal customer base.
• Templates & tools: Digital tools and templates can help professionals do tasks quicker and more competently. 
   

 

Should I Sell Digital Downloads in 2024?

Yes - if you have a product that can exist in a digital space, selling digital products online can be very beneficial for your business. Or, sell other content creators' products and earn a commission every time a sale is made.

By simply setting up an EDP page and importing the necessary files and/or keys, you can begin selling digital products almost immediately.

Before you do that, though, it’s worth thinking about some of the benefits and challenges that come with selling digital products online. Let’s jump into the pros and cons of selling digital downloads in 2024.

 

What Are The Benefits Of Selling Digital Downloads?

Whether basing your entire business around digital products or introducing digital sales to complement your existing products, selling digital products online can result in a host of benefits for your business. 

Let’s take a look at the key benefits of switching to this business model in 2024.

• Larger Target Audience: Selling your products online opens your business up to millions of new customers from all over the world. Plus, selling online can make it far easier to pinpoint a niche and unique selling point as a brand, which can provide a massive boost to your business and give you a competitive edge.
• Lower Barrier Of Entry: Thanks to the ease of setting up an online storefront with EDP, you’ll be able to sell your products easily with just a laptop and a solid WiFi connection. Compared to traditional brick-and-mortar stores, selling online involves less risk, with much lower overhead costs and no need to rely on suppliers or manufacturers. If you’re running it yourself, you also cut out the staff costs, too.
• Digital Products Often Carry Less Risk: Physical products can become damaged, whether that’s over time or when in transit. Digital products, on the other hand, can last forever. Existing online digital products can be used over and over without worrying about wear and tear. In fact, if they’re continually upgraded and improved, digital products can potentially get better over time.
• Digital Products Won’t Go Out Of Stock: With physical products, there’s always the worry that your supply won’t be able to keep up with demand. One of the biggest benefits of digital products is that they never go out of stock; you can sell as many copies as you want. No need for a physical warehouse or lock-up to house your product inventory. 
• The Digital Product Industry Is Only Getting Bigger: The digital product industry has absolutely exploded in the last decade, and it’s only projected to get bigger in the future. Indeed, many predict that 2024 will see digital products become a billion-dollar industry.² With so much potential for growth, selling digital products online seems like a no-brainer.
• Easier Communication With Customers: Digital products give businesses an easier way to communicate with their customers. When a customer buys a digital product, it is usually delivered to their email address. This means that you’ll have an instant way to reconnect with your customers after they’ve purchased from you. Great for re-targeting campaigns to give your sales a boost. 
   

What Are The Challenges Of Selling Digital Downloads?

There are many benefits when it comes to selling online, but there can also be a lot of challenges and potential drawbacks involved. When you’re coming up with an online business idea, it’s important to be aware of some of the challenges you may face.

• Competition Is Huge: Given how popular digital products are, it goes without saying that there’ll be significantly more competition when selling online compared to opening a shop on the high street. 

The vastness of the internet can be both a blessing and a curse. You have the potential to reach a much larger audience than you could by selling physical products, but at the same time, you’ll have to work hard to stand out from your competitors and reach your target audience.

• Tech Issues: As mentioned earlier, digital products often have a much longer shelf life than physical products, but that doesn’t mean they’re completely free from risk.

Problems with your website can range from an inconvenience to a disaster. Your website staying down for a number of days will leave you unable to sell your products and could hurt your reputation. Should your website ever experience issues, it’s vital that you alert your customers as soon as possible and perform regular backups to ensure nothing is lost.

• Cyber Attackers: Cyber attackers are an unfortunate reality for any online business. You can never be sure when a cyber attack might happen, but it’s always important to be prepared by regularly backing up your website and making sure your data is secure. 

 

Can You Actually Make Money Selling Digital Downloads? 

While there are challenges associated with selling digital products online, the endless potential for success and the continuing growth of the industry means that you can definitely make money selling digital downloads.

Thanks to EDP, setting up an online storefront has never been easier. Register today, and you’ll be able to start selling online almost immediately. 

What’s more, you’ll only pay for EDP when you make money- by connecting your Stripe account, EDP will take a small 5% fee on the payments you make.

With significantly lower overhead costs, no fear of running out of stock, and less risk of wear and tear, selling digital products online has the potential to earn you much more money than selling physical products.

Top Tips For Selling Digital Products Online

Getting into the digital product industry can be life-changing for you and your business, and by following a few simple tips, you’ll be in the best possible position to set yourself up for success.

• Do Your Homework: As with any business venture, it’s important to do some thorough research before you start selling, even if you already have a stellar online business idea. This can include where you’re likely to find potential customers, who your main competitors are, and whether there’s a particular niche that your business can fill.
• Identify Your Target Audience and Buyer Personas: An important part of your research should be identifying your target audience (defined by characteristics and demographics) and buyer personas- a more detailed representation of your potential customers built using qualitative and quantitative research data. By doing this, you will gain a clearer idea of who you want to sell your products to.
• Determine The Price & Profit Margins Of Your Digital Products: Setting the right price for your digital products is vital. You can get a better idea of how much your product should cost by looking at competitor’s prices.
   

One of the benefits of selling digital products is that there are several different pricing strategies you can use. You could use tiered pricing, offering your product in different versions at different prices, or you could use a subscription model, where customers pay you regularly to use your product- this is usually done either monthly or annually.
 

• Advertise On Social Media: With an estimated 4.9 billion people using social media,³ advertising your products there gives you an opportunity to reach a huge amount of potential customers. Creating engaging, relevant content on sites like Facebook, Instagram, Twitter and TikTok can help get your products in front of customers and can help you create a loyal customer base.
   

Which Online Business Is Most Profitable?

With digital businesses becoming increasingly accessible, you can easily find a large and eager customer base and become sustainable regardless of the industry you’re working in.

However, not all online businesses are created equally. The digital landscape is dynamic, with industry trends and target audience interests shifting constantly. It can be difficult to determine what the next big thing is going to be, but in 2024, these are just some of the most profitable online businesses:

• Creative design: Creatives such as copywriters, graphic designers, and video editors selling their services online can potentially reach millions of businesses that are looking to improve their brand.
• App design: As of 2024, there are around 1.8 million apps on the Apple app store. ⁴ While it’s a very competitive field, designing a killer app could change your business forever.
• Podcasting: Podcasting is becoming an increasingly popular form of entertainment, with hundreds of millions of listeners globally. When done right, podcasting can be a great source of income thanks to sponsors and advertisers as well as official merchandise.
• eBooks: The eBook market is getting bigger with each passing year, with more than 1 billion eBook users predicted worldwide by 2027.⁵ If you’ve got a good idea for an eBook, you may be able to find a niche that will provide you with a steady income. 
   

What’s The Best Online Business To Start?

Deciding on the best online business to start depends largely on what it is you want to create.

If you have a particular talent, whether it’s for graphic design, music, or writing, you can base your online business around that.

However, it’s important to consider the risks as well. Creative design, apps, and podcasts may be some of the most profitable online businesses. Still, they are also highly competitive, so it’s important to make sure you have a robust plan to get your products in front of potential customers.
 

Start Selling Digital Products with Easy Digital Products

Easy Digital Products is a simple and straightforward solution that will help you start selling digital products online in next to no time!

Simply create an EDP page, upload your products, and connect your Stripe account. You can start taking orders immediately with seamless order processing and automated digital product delivery, making things easy for you and your customers.

Register with EDP today to start selling digital products.