6 Reasons Selling Digital Downloads Is The Perfect Side Business
- June 4, 2019
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In 2019, everyone is talking about why we need multiple income streams to ensure that our finances are secure. After all, if one is suddenly disrupted or dries up, having other options will ensure that our bills still get paid. There are lots of options out there, but there are many unique benefits to selling digital downloads that makes it the perfect side business and a powerful income stream.
When you consider the wide variety of options that the world of digital downloads opens up for you, it’s easy to see why selling digital downloads is so lucrative.
So whether ebooks, printables, graphics, audio, courses, graphics, or some other type of download fits best in your niche, there’s definitely an option for you. And this is a case of the sky truly being the limit, especially with platforms like DPD offering a one-stop shop for anyone wanting to make money selling digital downloads.
And, although making more money is likely most people’s chief motivator, here are six reasons that you’ll want to consider growing your bottom line by selling digital downloads.
Shipping Isn’t Even a Blip on the Radar
When products travel as fast as the click of a button or an email, then the age-old costly problem of shipping is no more. Not only do you not have to compete with mega-retailers like Amazon who promise goods in 1-2 business days (or less!), but you create the playing field where you are the star. What’s more, your clients don’t have to wait days for their product, they can download it as soon as the purchase is complete. This means that you can start capitalizing on their excitement immediately with tips on how they can use their new product.
Selling Digital Downloads Gives You the Highest Margins
When you sell digital downloads, you don’t have to pay a wholesaler a big chunk of change and lose 40% of your sales in fees. On the contrary, when you use a platform like DPD, you pay a low monthly fee and otherwise, you get to keep your money. Outside of transactional costs, a digital storefront means that you have extremely low overhead, especially in comparison to a brick and mortar business. That means that your new side business can quickly become a valuable income stream that is almost pure profit.
You Reach a Global Audience
A traditional brick and mortar business can be fantastic, but it also limits you to a specific geographic area, unless you create new locations which is both time-consuming and costly. But selling digital downloads gives you global potential. You can reach anyone with internet access, which in the age of the smartphone is nearly everyone in the world. What can you do with this limitless potential? Just about anything. With a global audience at your fingertips, start making goals that match your potential by creating a digital download that can truly deliver.
Build it Once and Reap the Sales Rewards
If the phrase “passive income” is music to your ears, then you may find this to be the biggest draw of selling digital downloads. Because truly, a digital download can be set it and forget it. Once you’ve created your digital download, whatever it is, you can start selling it. And because platforms like DPD keep track of your sales, if you ever need to update your product, you can make sure that your buyers are aware of any updates.
Selling digital downloads is absolutely one of the best ways to generate passive income. Your digital download will be available for purchase as long as you choose to allow it. And while, to maximize your sales (and profits), you’ll want to do some marketing and perhaps an email nurturing sequence or two to ensure that your target market knows about your product, it is easily something that can continue to generate income 24/7.
You Set the Rules
How do you want to price your digital download? Sure you put lots of time and energy into it up front, but since this is your product for sale on your site, you can set the rules of engagement. Meaning, do you want to set it up as a pay-as-you-go or a la carte system? Would you rather have your product(s) be available when users pay a one-time fee? Or maybe you’re selling subscription-based access that generates a monthly income. You get to set the rules for how the money comes in as your digital download sales grow.
If you want to reach a new audience, why not let some brand ambassadors do the marketing for you by creating an affiliate program that offers a discount to clients these influencers send your way?
Want to run a discount promotion or build a bundle? That’s 100% in your control, too. You get to decide if and when you want to offer a sale or if you want to take advantage of scarcity mindset and offer a low introductory price to the first 100 buyers.
Direct Contact with Your Audience (and the ability to upsell them)
The true beauty of selling digital downloads is getting to maintain direct contact with your audience. After all, once they buy from you once, chances are good that they’ll buy from you again. So not only will you be able to continue to market your new digital downloads to your audience, but you can upsell them to the next level of related services.
Most importantly though, once people buy your digital download, you can continue to stay in touch with them via a weekly or monthly newsletter that allows you to give them free tips and tricks and first-in-line access to any new products.
The takeaway here is that selling digital downloads is a hugely profitable way to grow your income. Maybe it starts as a side hustle and grows into a significant source of income. Regardless of what you’re selling and how many digital downloads you offer, the income potential is nearly limitless, so take advantage and start selling digital downloads soon. There’s really no downside.