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How to Skyrocket Your Digital Product Sales?
3 Top Platforms to Skyrocket Your Digital Products' Sales
Duleeka H.S.
30 Jun • Estimated Reading Time: 7 minutes
For founders and creators, selling digital products online can be a great way to grow your business.
By now, Justin Welsch has sold over $6M in digital products, subscriptions, coaching, and sponsorships and that’s not an income anyone can ignore.
The digital products are helping creators become rich and successful easily now a days.
Steve Scott reportedly makes around $30,000 to $60,000 per month from his e-book sales on Amazon. His annual income from these sales is estimated to be in the range of $360,000 to $720,000.
TL:DR
→ 3 Platforms to sell your digital products with ready to buy customers
→ Hot AI news from this week (Your content is at risk and Microsoft AI chief approves it 😱)
→ Some other great AI & SaaS products that help founders and creators
Here are the 3 products you can try to sell your digital products to your niche using the already existing platforms with ready to buy customers.
1. Amazon
Features
Amazon allows you to sell eBooks, music, videos, and other digital products.
It offers a vast marketplace with millions of potential customers.
You can easily upload your digital products and start selling quickly.
Amazon has over 300 million active customers.UI/UX Experience
Customers can easily find and purchase your products.
As a seller, you have access to tools for tracking sales, managing inventory, and promoting your products.
Pricing
Amazon charges a referral fee for each sale, which varies depending on the product category.
For eBooks, there is a 30% commission for books priced between $2.99 and $9.99, and 65% for other price ranges.
There are also fees for storage and delivery for non digital products/ paper books.
Limitations
Amazon's fees can add up, especially for low-cost items.
The competition is fierce, making it hard for new sellers to stand out.
Additionally, Amazon's strict policies can sometimes be challenging to navigate. Many publishers complains about blocking their accounts after they start to grow. 😥
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2. Gumroad
Features
Gumroad is designed specifically for creators to sell digital products like eBooks, music, videos, software, and more.
It provides tools for building a storefront, managing sales, and engaging with customers.
You can also offer subscriptions and memberships. 🤩
UI/UX Experience
Gumroad's interface is simple and clean, making it easy to set up and manage your store.
The customer experience is smooth, with a straightforward checkout process and instant access to purchased products.
Pricing
Gumroad offers a free plan with basic features, taking a 9% commission on each sale.
Paid plans start at $10 per month, reducing the commission to 3.5% per sale and offering additional features like custom domains and advanced analytics.
Limitations
It might lack some advanced features needed for complex businesses.
The free plan's high commission can be a drawback for some sellers.
Additionally, the platform is not as well-known as Amazon or Etsy, which may limit exposure.
However, Gumroad hit $11.1M revenue and 27K customers in 2023.
3. Etsy
Features
Etsy is a popular platform for handmade and vintage items, but it also supports digital products like printables, art, and craft patterns.
It offers tools for setting up a shop, listing products, and handling transactions.
UI/UX Experience
Etsy's interface is visually appealing and user-friendly.
Setting up a shop is easy, and the platform guides you through the process.
Customers find it easy to browse and purchase digital products, enhancing their shopping experience.
Pricing
Etsy charges a $0.20 listing fee per item and a 5% transaction fee on each sale.
There is also a payment processing fee, which varies by country. For example, in the U.S., it is 3% + $0.25 per transaction.
Limitations
Etsy's fees can accumulate, especially if you have many listings.
The platform is known for handmade and vintage items, so it’s beneficial for digital products that are related to the crafts category.
Competition can be tough, and standing out requires effective marketing.
Etsy has 7.5 million sellers with over 97.3 million buyers.
AI news from this week!
Your content is at risk and Microsoft AI chief approves it 😱
Microsoft AI’s CEO, Mustafa Suleyman says that any content published on the open web becomes "freeware".
Therefore, it is free to copy and use. Yes, it means anyone is free to steal your content. 🤔
Suleyman says that since the 1990s, people have agreed that content on the open web can be used freely, so using it to train AI isn’t stealing.
However, legal experts and courts decide what is fair use, not just public agreements. Copyrighted work is protected as soon as it's created, which goes against what Suleyman is saying.
What’s your opinion on this?
Do you agree with the CEO of Microsoft AI?
Other great AI & SaaS products that help founders and creators
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See you next week!
Profit, Peace & Happiness ✌️
Duleeka H.S.