I studied 100+ of digital products, these 7 will make you rich

Summary

This video offers seven digital product ideas that can generate significant revenue, even with low competition. It covers ideas like SVG files for earrings, planning templates, printable wall art, video templates, and interior design templates. The video emphasizes the importance of product research, using Etsy for validation, and eventually transitioning to your own website for full control and scalability. Additionally, it highlights the use of strategies like reference value, bundling, and adding service packs to maximize profits, providing practical tips for starting and growing an online business.

Takeaways

• 💡 Selling digital products can be highly profitable, with low overhead and potential for high margins.
• 📈 The first digital product idea is SVG files for earrings, which can be sold as digital downloads and have significant profit potential.
• 💼 Bundling digital products, such as selling multiple designs together, creates a perception of value and can significantly increase sales.
• 📊 Product research on platforms like Etsy is crucial for validating ideas and understanding market trends and competition.
• 💻 The second digital product idea is planning templates, which can be created using software like Google Sheets, Excel, or Notion.
• 🎨 Printable wall art is another profitable digital product, especially when offering customizations or using print-on-demand services.
• 🚀 Adding a service pack, like website setup for digital products, can create additional revenue streams and customer loyalty.
• 🎥 Pre-made video templates for content creators can address specific pain points and save time, making them attractive digital products.
• 🏠 Interior design templates targeting specific service businesses can save customers time and provide valuable resources for starting or running a business.
• 🔗 Selling on your own website, using platforms like Shopify, offers greater control and long-term business sustainability compared to relying solely on marketplaces like Etsy.

Q & A

What is the first digital product idea mentioned in the script?

The first digital product idea is selling SVG files for earrings. These are scalable vector graphics that can be used for printing or laser cutting.

Why are digital products considered profitable according to the script?

Digital products are considered highly profitable because once the initial cost of creating the product is incurred, there is almost zero marginal cost to produce or deliver additional units, allowing sellers to make a large profit margin.

What strategy is used by the store selling SVG files to maximize sales?

The store uses a strategy called reference value, where they offer bundle listings of designs at a reduced price per design compared to individual listings. This gives the customer the perception of getting a better deal.

How does the script suggest using Etsy for product research?

The script suggests using Etsy for product research because it provides real data on sales figures, profit margins, and other metrics that can help validate product ideas before launching them.

What is the second digital product idea mentioned?

The second digital product idea is creating planning templates, such as templates for budgeting, meal planning, wedding planning, and other types of planning or tracking.

Why does the script recommend having your own website in addition to selling on Etsy?

The script recommends having your own website because it gives you total control over your business, allowing you to build a brand, drive your own traffic, and potentially sell the business one day, which is not possible with just an Etsy store.

What is the advantage of offering pre-made video templates as a digital product?

Pre-made video templates are advantageous because they solve a real pain point for content creators by saving them time in creating engaging short-form content. This makes them a popular and profitable digital product.

What does the script suggest about offering personalized products, and how can it be managed efficiently?

The script suggests that offering personalized products can be profitable, but managing them can be time-consuming. To manage this efficiently, you can delegate the design work to freelancers once you have a consistent stream of orders.

What are some of the service businesses that could benefit from digital templates, according to the script?

Service businesses like real estate agents, travel agents, contractors, graphic designers, video editors, and social media agencies could benefit from digital templates that help with client management, proposals, and other business operations.

What additional service does the script suggest offering when selling website templates?

The script suggests offering a full setup service as an add-on to website templates. This service helps customers install, customize, and set up their website, and can be further monetized by offering ongoing services or a monthly subscription for website-related tasks.