“Never depend on single income. Make investments to create a second source” -Warren Buffett
Have you ever thought of packaging your ideas and expertise into a product that could be sold on the internet for money? You can monetize whatever knowledge, ideas, and expertise in a product and sell online for money. And this can make you money even when you are asleep. If you are looking for a reliable and sustainable way to earn some good money on the internet, then creating and selling a digital product is the kind of business you need to get into. Can you teach what you are good at to other people? Regardless of the answer, monetizing this knowledge in an e-book or video course will make you money to help run away from a 9–5 rat race.
Creating and selling DIGITAL PRODUCTS on the internet is a booming and lucrative industry. Digital products are great and reliable ways to make money online, especially in this digital era. Selling digital products is lucrative. Online courses have become popular due to the COVID. Self-education through online learning is an emerging trend, which is preferred not only by old people like me but by the young, as well. Online courses have come to fill in the gap of knowledge and learning. The significant increase in the number of users of the internet searching for knowledge is going up by the day. This could be attributed to the availability of electronic gadgets, for example smartphones, tablets, and computers. This has facilitated the ease at which one can acquire knowledge in their field of interest. It must be mentioned that COVID has pushed more people to be on the internet regularly, searching for the keywords’ money online home. The pandemic has also created new categories of students looking for access to education and learning resources. There are those comfortable with the flexibility of education that comes with online learning and courses. Especially learning in their own convenience. No pressure synonymous with traditional school learning.
It is estimated, by the Global Industry Analysts that online learning will be worth more than $240 billion by 2021.
The reason for this is that more and more people are running away from the traditional work of reporting to work at nine and closing at five. More and more people are sharpening their skills online and self-educating themselves through courses to be self-employed. Digital education is the new trend of the future, and this is becoming the most preferred way for most people to learn skills online. You learn at your own pace. The traditional belief that learning or education only happens or takes place in the classroom has been made useless. Creating and selling online courses had witnessed significant growth. Demand for online courses and other digital products has soared very high, accounting for a large part of active businesses online.
Do you know you can turn your skills, expertise, knowledge, and passion into a product and sell online? Ask the following questions, what can I do best? What am I good at? What am I passionate about, what solution can I provide to others? Find a problem you can solve, and build a product / business around it. Know and understand your target market or audience, and find out what are the challenges, problems, or pain they may be experiencing. And help bridge that gap.
WHAT IS A PRODUCT?
Anyone can dream up great ideas, but an idea is nothing until it’s realized, be it as a website, a physical product, an app, or a user interface.Jens Martin Skibsted
Before we proceed further, let’s answer the question, what is a product? A product is anything that provides value.
A digital product is any product that does not have a physical substance. The turning of your skill and abilities into something of value for users. “Digital product is a euphemism for information product.” The ultimate aim of creating a digital product is to solve a problem or provide some form of benefit to an audience. And to the creator to provide financial benefits. The following are examples of digital products, Online Courses, Ebooks, Couching, Digital Arts, Professional Services, Newsletters, Podcast, Games etc.
WHAT TO CONSIDER IN CREATING A DIGITAL PRODUCT
KNOW YOUR NICHE AND EXPERTISE
Creating a digital product for your audience or clients requires a complete understanding of your niche, and the industry or market. What is a niche? Before you begin with this online business, you must first choose your niche market and target audience. A niche could be built from areas where there are problems, worries, or interest. It could also be where there are demands or gaps, and a solution could be offered. You can only promote a product effectively if you have total control of the niche industry.
Every niche you choose must come out of something you; ¬ enjoy ¬ Interest ¬ Passionate about. ¬ Feel good about You can achieve this by asking yourself a few questions.
● What am I passionate about?
● What is the gap in the market?
● What is my interest?
● Are their affiliate products for that niche?
● Build relationship with your audience
Be consistent: You can increase traffic to your website by creating the perception in the minds of your audience that you are an expert in your niche. In this way, people can come to you for help and buy what you sell. And how can one become an expert in his/her niche? Be clear with the value or solution you intend to provide to your audience, followers or the market in general. Do you know the need of your target audience? What is the goal of your target market? Which gap in the market are you trying to fill? Your product must solve the need at the marketplace, otherwise, they might not show any interest in what you are offering. Seek information about the need of the industry through research. What are industry experts discussing and talking about? And what projections and trends forecast have they said about the future? What opportunities are you trying to exploit at the marketplace? Who are you target users or clients, why do you think they need that kind of product? What are some of the things that drive your audience? Understand this and map up a long-term strategy for them. Narrow everything down to your audience. Do you have a fair idea of how your target audience likes their digital product? The following are how digital products could be packaged and delivered, videos, ebooks, audio, courses, and more.
REASONS WHY PEOPLE START ONLINE COURSES
The following are some reasons for creating and selling digital products;
● There is no limit to the quantity of courses, videos needed, one course created to be sold to several people for several years to come. There is no need to worry about holding inventory, packaging, or the shipment. These are issues with physical products, not digital products. Create once and sell many times
● There is no limit on the quantity of products that one can sell. You can sell whatever quantity anyone orders. You create a digital product once, but sell them forever
● Digital products are easy to distribute, significantly more sustainable, and can be replicated infinitely. They are also not too difficult to create.
● There is almost zero barrier cost to entry, except the value you are providing
● The way people learn has changed. E-learning is the future of education
● Low cost to start
CREATING YOUR FIRST DIGITAL PRODUCT
Because educational and learning materials are highly in demand, it makes sense to move into that niche to enjoy part of the big cake. As stated earlier, digital education is the new trend, and this is the most preferred way for most people to learn skills online.
Knowledge is power, but how can you turn your knowledge and expertise into a money-making machine? Use the knowledge you know to create a digital product. For anyone who knows how to explain himself to others, turning this knowledge into a packaged product and sell for money.
PLATFORMS FOR CREATING, HOSTING AND SELLING COURSES ONLINE
You can host and sell your online courses on one of the finest platforms available. I have detailed below the reasons why teachable is the preferred platform for most people selling a digital course.
Teachable provides everything from a basic sales page template to a customized template. The platform takes care of all the necessary payment options. They also provide a back-end interface that students use to watch the course.
Teachable doesn’t take a commission of the fees or payments made. If you are serious about making a course and want to maximize your earnings, self-hosting a course is the way to go.
Teachable also offers a14-day free trial to try all of their professional plan’s features free for 14 days. After that, the Basic plan is $29/month, the Professional plan is $99/month, and the Business plan is $499/month.
You can turn your ideas and expertise into a course to sell with little or no experience. They will make it easy to monetize your knowledge and earn a steady and reliable stream of income. Their platform will help you create, build, grow and manage your ideas and expertise into a ready product to sell. It is the best platform out there for selling online courses. An all-in-one platform that helps you create and sell courses online. It provides an ALL IN ONE solution for creating, teaching and self-hosting your courses. It handles everything from web hosting to payment processing.
A quick glance why Teachable will help build a career for you:
Your course can go live easily;
All you have to do is build your course and upload onto the platform. No worries about any complicated coding or customization.
Take all the fees you earn, take 100% control of the fees you earn
For conversions their sales page is simply the best:
Great interface which helps with conversion
Is growing rapidly with over 80000 subscribers, and the growth has made them innovators in the sector. Providing clients with regularly new features to help make work much easier.
The new digital era has brought in its wake a new digital trends with most people unable to leave any meaning of life without interacting with one form of electronic gadget or another. How can we help these people through solutions? There is a lot that could be done to help them and also make money. There is no better time than now to start.
We can see clearly that packaging your ideas into a product and selling to a new generation of people who have a different understanding of what education is will make you money. This is the right time to make money.