Social media has become one of the easiest and most accessible mediums to start businesses while staying at home, especially when it comes to selling digital products. Digital products are one of the most convenient and easy-to-grow business.

If you’re looking for a business idea to start on your own but struggling to find what would work for you, here is a quick guide on how you can start a digital product business in less than 60 days at home.

Step 1: Understand what digital products mean

Digital products or e-goods are intangible goods that exist in digital form. Digital products help consumer gain certain knowledge or skills in the comfort of their devices.

In this era of learning through digitization, the knowledge industry is booming and people are turning to more online platforms where they can look for a guidance on something they want to learn. Especially due to easier data penetration, availability of online transaction and obligation to work under the digital platform due to the global pandemic, digital products hold a high possibility to stay secure in the present world. Instead of buying and selling physical goods, digital products only require a concrete platform to provide the consumers with the knowledge and skills they are looking for. With that, businesses that sell digital products have a high-profit margin in today’s world. According to Forbes, by 2025 knowledge industry- Elearning is predicted to become a 325 billion dollar industry.[1] 

Step 2: Find the Digital Product for you

There are endless possibilities of what you can put out online that may benefit a specific group of consumers. Some of the most common digital products that have a widespread consumption as per the common needs are Online Yoga classes, exercise lessons, Language lessons (Nepali, English, French, spanish), Specific Skills (Designing, Marketing, Business, Finance, Share Market, Branding, child development), Consultation (Dietician, weight loss program, skin care, healing), 1:1 Coaching (life coaching, business coaching).

 

Step 3: Build your Social Media

Facebook and Instagram, as the leading social media platformsl, are the perfect option to spread the word about the digital product you are starting to sell. Building a user-friendly, understandable and accessible social media page can not only attract more consumers to your business, but also start creating the base of the launching of your product and help you put yourself out on the market. Your social media page is your gateway to selling your digital product, so it is important to build it as though you are the expert in the field, giving your audiences enough reasons and services to click and join the consumer culture.

Step 4: Design a Website

Your next step is to design and build a website for your product. Unlike physical products, digital products rely on a systematic approach to establish a platform to easily sell them. Although it is possible to do it only via social media in the beginning, creating a website where you design your own world of puting out your products will help you smoothly run your business by aligning the system to be confined within your website. A consumer will look for an easy-to-use, informative and user-friendly website to be a part of the buying of your digital products.

Step 3: Integrate a payment system and start selling!

With a stable and convenient website set up, the next step is to integrate a payment system. Make sure you fairly price your online training or courses with enough research and understanding of the current state of the market. It can be downside to your courses to consumer ratio if the payment system aren’t fairly worked with since it can be a major reason to push back the consumers. Only after that, your products are good to go for selling!

Why sell Digital Product?

  • Doesn’t envolve a hassle of delivery unlike physical product
  • Doesn’t require big investment like physical product
  • Don’t need to maintain inventory
  • Due to Global Pandemic more people are at home
  • Increase in self pace learning & online learning culture
  • Easy tools & affordable technology
  • Increase in Data Penetration
  • Increase in Digital Wallet & online transactions