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The Mighty Encyclopedia
Learn everything there is to know about running a
successful Mighty Network
If you’ve ever disappeared into a rabbit hole of posts on “passive income” or “how to make money online,” you’ve probably come across the term “digital product.” And you might be confused about what a digital product is, how it’s different from a traditional product, and how one goes about making a digital product.
What is a digital product?
A digital product is a digital good that is created, sold, and purchased online. In most cases, it is even consumed online (except for things like printables). Unlike physical products you buy online, which need to be stuck in a box with packing peanuts and shipped, digital products are delivered via the internet, usually instantly after your purchase.
The internet created a new way of doing business and made it possible for a wave of new types of products, plus the digitization of a bunch of old-world products. You used to go to the bookstore to buy the newest Harry Potter. Now you might just get it on your e-reader or phone. Once upon a time, you’d buy a paper project planner or calendar. Now you probably use digital project management software or a Google calendar.
Digital products are a fantastic monetization option for creative entrepreneurs because they are often endlessly scalable. When you sell a new digital course or ebook, you don’t need to create them again. You simply give the user access to that digital product through some sort of paywall. That’s a huge advantage for the creator.
But don’t be fooled by their simplicity. Although digital products are everywhere, it can take a lot of work to make a good one, and many don’t sell. We live in an age of digital product oversaturation, so slapping any old thing into a PDF and putting a price tag on it is unlikely to get you many customers. The best digital products are well-researched, well-executed, and constantly improved.
Examples of digital products
Now Read: How to Sell Digital Products