Transform Your Business Today with These 10 Profit-Boosting Digital Product Ideas
Digital products are taking the 2024 business market by storm - And things aren't slowing down!
Digital resources have an advantage over other types of things you can sell in business.
People are burnt out from trying to get through the pandemic. It was a lot of work and cost business owners a lot of money, and they're not getting any sympathy now that the waters have cleared. Business owners are frantically still trying to pick up the pieces of their fractured businesses, and they're over-trading their time for money.
Business owners are craving some relief in the form of passive income.
Passive income is a brilliant addition to any business. The idea is you make something once, and it continues to sell on Evergreen (you can sell the same product over and over without having to put a ton of time and effort into it).
To learn more about passive income, check out this blog from earlier this year.
But the most important thing to remember when creating digital resources is, what do your buyers actually want? What feels most worth it for them to buy? What are show-stopping products?
So, what types of digital products are the most in-demand by consumers?
1. E-Books—Yes, these are still super popular! People are enjoying short to medium length e-books. These can be informative, instructional and incredibly valuable. When you make them super specific and speak right to their pain points and the solution they're craving, they'll sell like hotcakes.
2. How-To Guides/Manuals—These are step-by-step guides that teach various concepts. People want to learn exactly how to do something in the quickest form possible. They're beginning to be less likely to buy a course where they have to work through a bunch of modules in favour of faster methods to get the solution they're looking for.
3. Templates—Hugely popular right now! You can create templates for things like emails, social posts, sales pages, websites, lead magnets, ChatGPT prompts, etc. People are looking for solutions that don't cost them a ton and that save them a bunch of time. If they're not sure how to do something, they can find a template to use as a guide.
4. Checklists—These are great for teaching processes without requiring buyers to watch a bunch of instructional videos and create the process themself. These can be processes for launching a course or webinar, creating a fitness plan, how to change a car tire, etc.
5. Recipe Books—Instead of buying a full-on cookbook, people are loving these low-cost, simplified options. They work great as both a free and paid product.
6. Refection Workbooks—Action-based workbooks to help someone figure out a concept/reflect. These can be something like journalling prompts or simply questions that they write their answers to to gain clarity on something such as their messaging or overcoming limiting beliefs.
7. Branding Kits—These are informational packages that allow others to create their own branding kits. These are something all business owners need!
8. Trackers—These work great as free resources. They don't require you to do much teaching and can be very impactful for people. They often require buyers to have some prior knowledge. These can include habit trackers, finance trackers, exercise or meal trackers, etc.
9. Teacher/Coach Worksheets—These can act as lesson plans or worksheets that are given to students to practice different concepts. Teachers require a variety of engaging worksheets to help their students learn and are often looking for new resources
10. MRR Products—Any type of product that someone can buy the rights to resell as their own. These have gained tremendous popularity this year. They function as both a tool for individual learning and an easy way to start bringing passive income into their own business.
There are plenty more types of digital products and resources you can create and sell in your business. Every business is different and what works and naturally fits in will be highly dependent on you.
Find what works for your business and test things out. A little bit of market research never hurt anyone.
Create a minimum viable product (so you're not creating a big, massive product only to find out people aren't interested), ask people you know (who are part of your target audience) to work through it and collect their feedback when they're finished.
Implement their feedback, add even more powerful parts to it and then go and sell it!
And if creating a digital product feels overwhelming and time-consuming, then hey there! I'm Sarah, and I create digital resources for business owners to use as freebies or to sell. If passive income is on your 2024 goals list for this year, then you and I have to chat!
