Are you good with computers? Then, put your talent to use creating digital products and create passive income. I will show you how.
Some great platforms on the internet will allow you to create digital products and sell them. You could be earning royalties from around the world from your designs.
Digital products may be one of the most remarkable ways to earn passive income. The reason is that once you create it, people worldwide can see, purchase and download it 24/7, 365 days a year. You can make things like courses, ebooks, photographs, templates, planners, and more.
Digital Products And Passive Income
Digital Product Definition
A digital product is an electronically formatted product that can download via the internet.
How To Create Passive Income With A Digital Product
The best way to explaining how to make money with digital products is with examples. Of course, there are many ways to use your creative talents but let's cover some more common ones.
There is a significant demand for photographs by website creators and bloggers because every blog post needs a picture to go with it, and there are millions of blog posts written daily. I have created numerous websites and many posts, and I routinely buy photos.
Ebooks (electronic books) are great because they can be short or long and delivered from a download. Many ebooks are informational or instructional, but they can be any book in electronic form. Kindle books are a good example. Most people refer to them as Kindle books,s but they are ebooks.
Many people use templates for their business, or teachers utilize them for school work for kids. There are many ways to use them, and if you like creating them, you can get paid for using your designs.
Planners are a hot item nowadays. People are busy, and busy people need organization. Planners are a great way to do that, and creating a visually appealing one can make you some money.
Designing a course to educate people on a subject that you have expertise in is a great way to make money. You create the course once and make it available as a digital download to paying customers. Digital Courses are one of the most well-known earning methods for online entrepreneurs.
How To Sell Your Digital Product
You can have your website sell your digital products, or you can choose to use existing platforms and tap into their traffic. Some of the best platforms for selling digital products are:
Canva is very easy to use and maybe one of the best platforms for selling templates, photographs, and graphics. However, you will need to have your creations pass the “quality” check for things like technical, visuals, suitability, and metadata. You will also need Canva Pro, which is $12.99 per month. You can earn 35% of your sales with Canva.
I am a big fan of Etsy. It is free to create a store, and you can add your digital products there, and Etsy has advertising ability right from their platform. It is very user-friendly. There is a small fee to list an item, and there are small transaction fees when you sell something. With Etsy, you get all the revenue minus minimal transaction fees.
Udemy sells digital courses. It's an excellent tool for learning about a variety of subjects from experts at affordable prices. In addition, you can create your Course and sell it here. Selling Digital Courses is a large part of any online entrepreneur's income stream. Typical income on Udemy is 37 percent of the sales.
Kindle Direct Publishing
KDP is great for publishing books on Amazon, but you can also use it for no-content books such as notebooks or coloring books and planners. It is easy to use and is free. In addition, Amazon will take its cut from any sales, so there are no out-of-pocket costs. You will earn around 35% of the selling price.
An excellent way for photographers to have their photos seen by a worldwide audience. I have bought many images from them for websites. Shutterstock pays you approximately 32 cents each time your image downloads.
Whether you create your own or use a builder like Shopify, this is always an option. You have control, but you will also have to drive traffic to your site. Shopify will cost you $29 per month, or if you want to use a WordPress site, you will need to start with a host. I recommend Siteground and WordPress. WordPress is free and comes with Siteground. You can set the price, and all the income will come to you—no platform taking their fee.
Digital products and passive income can come in many forms, and if you are the creative type, this could be a great income generator. The platforms like Canva, Etsy, Udemy, KDP, and Shutterstock make it very easy and guide you through your startup. If you choose to have a website, it has advantages such as keeping all the income, but this choice doesn't come with built-in traffic as the others do.
If you think about possibly having a blog that can generate income through affiliate offers and advertising, you could sell your digital product there. Digital Courses and Ebooks are excellent choices for your website.
There are plenty of ways to put your talents to work, making money for you—what better way than earning money passively while you enjoy life.