7 Digital Product Ideas — Full Breakdown & Transcript

[00:00] So you want to sell digital products but you have no idea where to start or it seems like everything is so competitive. Well, today I've got 7 digital product ideas to help you get started and some of these don't even have that much competition but they're able to make 5 figures

[00:13] every month. Just like this one store here selling this digital product that makes $11,000 a month. And as you know with digital products, 90% of that is pure profit. Now before I start with the first one, I just want to say that all of these products can be sold either on Etsy or

[00:27] your own Shopify store. But I always use Etsy when I'm doing product research because I can see real data to validate my ideas. I can see the sales figures, the profit margins, and a lot of useful data I can't see with mine. Plus, Etsy is probably one of the biggest marketplaces for digital products

[00:42] with 400 million visits every month. So it's a pretty good representation of the entire market. So let's dive into the first idea. Number one is SVG file for earrings. So if you guys are wondering what SVG is. It stands for Scalable Vector Graphics. So it's basically a flexible format

[00:57] that keeps your graphics sharp no matter how much you stretch it. And it's the go-to format for selling graphics that are to be printed or laser cut like these ones here. Now you can create SVG files for just about anything, but this listing here is selling SVG files for earrings,

[01:12] and it's making about $7,000 a month, which is incredible. And this listing is just under one year old. Now remember that this is a digital product. They're not selling the actual physical laser cut earrings but it's just a digital download and because it's a digital product

[01:26] most of that $7,000 is pure profit. Now that's not even the craziest part because if I go back to the store level here and analyze all the listings in the store and we're going to sort everything by revenue you can see that they've got many other products and they're also selling

[01:40] pretty well and if I just export all this data here and do a total of the revenue column you'll see that this store is making $18,000 in revenue which is massive considering most of that is profit. Now if you guys want to do the product research yourself I use this tool called Everbeat to see

[01:55] the revenue of any Etsy store and not just the sales numbers but you can also see how many products are being sold, how long the shops have been around for and even the exact listing tags that you're using. It's basically a chrome extension that you can easily install and it allows you to have this

[02:09] button here that you click and then you can see all the data. You can try it for free I'm going put the link down below and if you decide to get the premium version they actually have a buy one get one free deal at the moment so i'm going to leave that link in the description below if you guys need it but now the big question is how are they able to make this much money with these

[02:24] simple products well they're using a strategy called reference value so if you look at the store page here right on top you can see this listing which is a bundle of 1700 designs and also another one with 500 designs and if you buy these designs individually they're gonna cost you

[02:39] you about $5 here. So with a bundle listing, there's a setting, a so-called reference value. So when you, the customer, sees the bundle listing, you'll subconsciously compare it to the individual ones. And it gives the customer the perception that the bundle listing is a better

[02:53] deal because each design now becomes $0.09 instead of $5.69. And to convince the customer even further, if you buy this bundle, you get lifetime access, full commercial use, and all future designs

[03:05] included. That's such a good value and how can you walk away from that, right? Now this is a study that a lot of sellers use especially when selling digital products. So just like this seller here selling mock-ups and they can do this because these are digital products. Once the initial cost

[03:19] of creating the product is incurred, there's basically zero marginal cost to produce or deliver an additional unit. So in other words with digital products you only need to produce it once and you can sell it an unlimited number of times. Now the second digital product idea is what I call

[03:34] planning templates so this could be templates for budgeting meal planning writing planning or just anything that you would usually track or plan so let's take a look at this store called Plenty Official they're selling this ultimate

[03:46] budget template and let's see how much they're making here $7,600 a month according to a rupee and if you go back to the store you can analyze the entire store here let's export the data you can see that the store is making $28,000 in revenue but let be conservative here as you see that many of the products here are 50 off so that actually in revenue but again that still massive considering that they only have 12 listings in the store Now I know what

[04:10] you're thinking it looks like these are not easy products to create. Yes obviously it's going to be harder than making SVG files but the good thing is that you don't need to create 500 listings which by the way also takes a lot of time and as you can see this store only has 12 listings so it just

[04:25] depends on what you choose to spend your time on. Now if I were to sell something like this my first step is probably to pick the software that I want to build the template on. So it could be Google Sheets, Excel, Notion, GoodNotes, or Remarkable, for example. And ideally, you want to find a

[04:40] software that is relatively new in the market, but trending like Remarkable or Notion here. And then you want to create each individual templates like Budgeting Tracker, Paycheck Tracker, New Planner, Travel Planner, Reading Planner, Habit Tracker, and so on. And then once

[04:54] you've completed those individual templates, you can use the reference value strategy and create an ultimate bundle of all the planners into one, you can sell it at a higher price. And because you've done the work to create all the individual planners, all you need to do now is basically

[05:08] combine everything into one bundle. Now, I've seen many stores do well with this strategy, especially selling motion templates. And in fact, the ultimate bundle usually becomes the best seller in the store because of the perceived value it brings. Now, I get a lot of questions

[05:21] from people saying that Etsy is too saturated or competitive and many stores are getting suspended. Yes, all of those things are true. That's why I always recommend to have your own website and use content marketing to drive your own traffic.

[05:33] Because at the end of the day, you don't want to just be selling products, but you want to create a brand that allows you to generate an income that's sustainable and from a source that you fully control. Now, for me, before I jump into selling any product, I like to use Etsy as a validation point.

[05:47] Because we can use it to research products, see what people are buying today, what's trending, and what are people saying about these products. Everything is backed by real data. Now, don't get me wrong, I'm not against setting up an Etsy store.

[05:59] I think it's a great and quick way to validate your idea. But don't let Etsy be your end goal. Your end goal should be having your own website because that's where you have total control of your business. And you can even sell it one day for a big payday. And you can't do that with just an Etsy store.

[06:13] Now, if I can just give you guys one tip on this. What are the best platforms to use when you're selling products through Shopify? Because the platform is built for e-commerce. And I think it's pretty easy to set up. They have this basic plan for $29, which has been around forever.

[06:25] But recently they made it even simpler now with the starter plan which is only 5 bucks a month. And what I like about this is that when you're on this plan and you market your products using social media, you can use this tool, LinkPop. It's kind of like the link and bio tool that we always see where your customer can just make a purchase right on the tool without ever leaving the page.

[06:43] So I think that's pretty cool. And plus, you can even sell in your DMs if you want to. They make it super easy so you can focus on marketing your products. Now if you guys want to check this out, I have a link where you can get this for just a dollar for your first month. So now that you have a website, you have two options.

[06:57] One is that you can use Shopify's branded domain. Two, if you have an extra dollar, you can use your own domain. And this flows nicely to today's sponsor, DotStore Domains. So when you're starting your online store, there's one super important thing you need, a special web address called a domain name.

[07:11] You want to think of it as your store's very own ID on the internet. So Rihanna has Rihanna.store. Shopify is doing its thing. It's Shopify.com. Behance at Behance.net. So the ending of those names is the domain name. So if you're running an online store, why not go for a .store domain?

[07:25] Because we've got celebrities like MrBeast, Cristiano Ronaldo, Michelle Obama, Maroon 5. They're all using it. In fact, MrBeast is the usual .com for a .store because it just fits better. So if you're building an online store, having a .store domain not only makes sense,

[07:38] but also adds that extra flair to your brand. A website that ends in .store tells your customers right away that it is an online store selling products. So it's different and stands out from those long and confusing website names. Now here's the cool part.

[07:50] In a big study that lasted a whole year, they found that using a desktop domain helps you sell more. Websites that end in a desktop domain get a whopping 87% more visits, twice the visibility on Google and also get 12 lesser cost per conversion when running ads Now let talk about savings You don want to spend too much when you just starting your business So I managed to get one heck of a deal for you guys You can grab your domain for just 99 cents for the first year

[08:15] Simply head to the link down below and use the code JasonStore to get this offer. And on top of this, the team at .store started a program called Elevate.store to help all online sellers with amazing deals and discounts. There's something for everybody, but when you purchase a .store domain, you're unlocking

[08:29] access to exclusive discounts up to $2500 on essential e-commerce tools like Wix, ShipStation, VistaPrint, MailChimp and many more. So thanks to upstart domain for sponsoring this video. Now the third product here is Printable Wall Art.

[08:42] Now check out this listing from Oliver Co Templates. This is basically a custom matchbook artwork. It's printable art that you can hang on your wall. I think it looks really nice. I personally would buy this myself.

[08:54] But if you look closely, they actually allow you to customize each design here, including the text. check out how much money they're making here. So $4,200 a month with this product. Amazing. Now, if you see all the listings here are quite similar to each other, just slightly tweaked

[09:06] with different colors and designs, but it's basically just one product, right? Now, if you go back to the store level and you export all the revenue data from everybody, you can see that they're making about $11,000 a month, which I think is incredible. Now, you probably noticed

[09:20] that this is a personalized product, which means that, you know, they have to manually fulfill every order. Now, I thought about this myself, and I think this is solvable. Now, you can always start this yourself but once you have a consistent stream of orders you can definitely delegate the

[09:33] design work to freelancers. So there are plenty of freelancers on Fiverr who can do this for pretty cheap and I'm sure you still have plenty of margins especially if you're selling one for $60. Now if I were to set up a similar shop there's probably two things that I would do. Number one

[09:48] I would offer different graphics maybe like stamps or envelopes but you want to keep the same style because I think the audience is loving this vintage and retro style and it's been working for them, so definitely keep the style but offer different items.

[10:01] And number two, you can notice here that they only sell digital files. But think about it, most people who order these things would probably want it printed and framed, right? So I would create a separate listing where you provide the option for people to buy the printed version.

[10:15] Now you can connect your Etsy store to a print demand provider like Gelato So they've got tons of wall art options with different quality paper and in various sizes. And when you use the print-on-demand provider like this, it means that you don't have to stock or print this yourself.

[10:29] But when a customer orders a product, it automatically gets sent to Gelato and they take care of the printing and the shipping. And if you have this setup, you'll make the customer happy because they get a complete product without having to physically go out to print it themselves.

[10:41] And at the same time, you also make additional profit. So it's a win-win for both. Now if you love wall art but you don't want to offer customizations because maybe it's too much work for you, we're going to check out this next store here, Harmony Pixels. So they have all kinds of wall art designs. Most of these are grouped in bundles. So if you have

[10:56] one that everybody pulled here, you can see that the best selling product is the whole shop bundle here. This one's making $14,000 every month, which is massive. And if you look down here, most of the sales come from this massive bundle. Now you probably realize that this is the strategy

[11:09] that a lot of shops are using. As you can see, the majority of the revenue comes from selling these bundles. Now if you think that $14,000 is a lot, wait till you see how much the entire store is making. So if I export the data again, you can see that the entire store is making $30,000 a month

[11:23] and that's just insane because we know that they make 90% plus margins with this digital product. So you see that there are pros and cons to selling personalized designs like this versus these ones because with personalized designs you don't have to create that many listings, you can probably

[11:38] charge more per product and there's a relatively lower competition because most people don't want deal with customizations right but with pre-made designs like these you have to create hundreds of listings and you'll probably get more volume but with that competition is tougher because anyone

[11:53] can just make these right and because there's more competition sometimes you have to keep lowering your price and you have to keep cranking out new listings to compensate for less margins so it really depends on the type person you are these are the pros and cons i think you can decide for yourself now the first story that i want to show you is called Hercules Wealth These are pre video templates that creators can use to create engaging short content and they usually include placeholders for video text or other elements that you can easily edit on

[12:22] Canva. Now according to every video store it's making $12,000 a month and most of their products are 50% off so that's around $6,000 a month which is pretty decent and what's more impressive is the fact that this store has only been around for five months. Now you can see another store selling a

[12:37] similar products and the products are also selling pretty well. Now when you're selling any product, you want to make sure that you're solving an actual pain for your target customer. So you've probably seen videos like these on Instagram talking about digital marketing or just motivational

[12:52] videos, just text on top of video. So a lot of content creators, they want to push a lot of content but they just don't have time to shoot every video. So this is a solution for them. You're solving a real pain for creators, you're saving time for them. So if you can show that in

[13:05] any product that you're solving that big pain, you can have a successful product like this. Now, the next product that I want to show you is interior design templates. So, this is basically targeted for those people who want to start or already own an interior design business. So,

[13:18] this particular product comes with 12 different templates. You got Google Sheet templates, Canva templates, and all the design templates that you need for sending proposal to clients, onboarding, you know, creating your pricing guide, and you've got another Google Sheet template to

[13:32] manage your clients and more. And this listing alone is bringing in $3,200 every month and listing is just six months old. So you can see that people are finding value in this as well. That's why this template sells very well. It helps people that want to start a business

[13:44] save so much time by not creating everything from scratch. Now, if you want to capitalize on this idea, you can actually apply this to other service businesses. You can create a full starter pack like this for real estate agents, travel agents, contractors, graphic designers,

[13:59] to video editors, social media agencies, right? Think of service businesses that deal with clients one-on-one. They're probably going to need this. Now, this next idea is a little bit different because it's not actually a digital product, but it's a service pack that you can add on to your digital product.

[14:12] So if you're selling a digital product, you can learn a thing or two. So you've probably seen people selling website templates, whether it's for Shopify, Framer, Wix, but this phone has added a service pack to it, and it's called full setup service.

[14:24] Now, let's think about this for a second. The main reason why someone wants to buy a website template is probably because they don't want to spend the time designing the website from scratch, right? Now, a website template solves that problem, but the customer will still need to know how to install it, customize the look and feel of the website.

[14:39] You've got to set up the individual pages, the navigation bars, etc. And it's not straightforward for some people. So this store is offering a full setup service, plus you get a free theme. Now, this is just the tip of the iceberg.

[14:51] Because what if I told you that you can potentially scale the service to $100,000 a month business? Let me explain. This full service pack that you see here is kind of the entry point to your ecosystem. So if a customer loves your template, loves your setup service, maybe your turnaround time, everything is excellent.

[15:07] You can then potentially sell them again for continued service. So when people set up a website, it's not a one-time thing. Versus if you sell a printable wall art, it's a one-time purchase, a one-off transaction. But when somebody wants to build a website, it's very likely that they're going to add more things to it.

[15:21] So maybe they want to add a testimonial section, maybe add a pricing page, or you want to integrate a third-party plugin or offer other design services. So that's a lot of potential services that you can monetize from just one customer.

[15:33] You can even get creative with this. Instead of charging a fixed fee for every task, you can actually offer a monthly subscription for all website-related tasks. Just like what DesignJoy is doing here. They offer a subscription-based design service and they're making about $100,000 a month or $1.2 million a year with this service.

[15:50] And you know how much I love subscription businesses. So you see, with this idea, you don't stop at just $55. That is just the starting point to bigger opportunities. Now, if you guys want to see another really good example, this guy, Ollie, has a similar concept where he offers a simple 15-minute service,

[16:06] then upsell his customers to his other services and is making $20,000 a month doing this. So if you want to see a video breakdown of that entire story, you want to click on this video here and I'll see you there.