Are you looking for passive income methods? Here are my ways to make passive income from a digital product for your own business. There are a lot of different ways to make money online but passive income digital products are definitely some of the best. Some small business owners focus on building their own website and driving traffic to it. Others create and sell digital products which earn passive income. In this blog post, I'm going to reveal my passive income strategy that will help you increase your business' bottom line and help you sell digital products online.
This strategy is simple, yet effective. I've been using it for years, and it has helped me generate passive income streams that continue to grow each and every month!
The key to this strategy is creating digital products and/or digital assets that can be sold over and over again. Some of my favorite ways to create a digital product and sell online are eBooks, video courses, stock photos, and website templates.
A digital product can be delivered online as a digital file, making it easy for customers to purchase them no matter where they are located in the world. When you sell digital downloads you never have to create another product, because your digital products are limitless.
Another benefit of digital products is that there are no shipping costs or inventory concerns and you can sell them from your own website. If you want to sell physical products you can even do that with a print-on-demand e-commerce platform that still works like digital products and makes you passive income. Read more about that below.
Passive Income Methods + Opportunities - Ideas for selling digital products online:
Make passive income in your business with digital products with some of these ideas!
- eBook format/digital workbooks/digital planners or journals are always a great digital product.
*After you create these as digital products, create more passive income by using Print on Demand software to sell your digital goods as physical ones for extra income.
- video courses/masterclasses/online course/online courses/video tutorials
- Sell digital templates (website, copywriting scripts, CRM templates, workflows, PowerPoint presentations templates, etc) as digital products
- plugins (code snippets)
- If you've got the coding skills you can make software applications for desktop or a mobile device
- Sell photos as stock photos (for example on Adobe Stock)
- Royalty-free music
- Printable wall art
- Join an affiliate program (most businesses have them, you can start today by applying for BrittaMade program)
*If you don't want to sell your own digital items or it doesn't seem like the right idea for you. then try being an affiliate first.
Affiliate marketing is one of the biggest game-changers in passive income. All you have to do is sign up for a program through a business that you believe in that is selling products and create your own content around their products. They provide you with a link and if anyone makes a purchase through your link, you get paid. No extra cost to them and free for you to do! The business you love makes more sales, and you make passive income. Win-win.
Not everyone wants to make or sell their own digital goods, and that's why affiliate marketing is an incredible passive income method to generate more money without needing to sell anything.
- Create Recurring Revenue by making a membership (baking classes, art community, private podcast, and so many more options). You can also split the content up and sell each lesson individually as digital goods leading to more sales.
- Print on Demand online store. Print on demand is a way to create a design and let another company such as Printful handle the production, printing, shipping, etc. This is an epic way to earn passive income at a low cost to you. (best part is you only pay Printful if you make a sale)
- Put your design skills and sell online graphics packs (youtube branding kit, reel covers, Twitter banners, FB branding kit, Airbnb kits, etc). A fantastic option for graphic designers or anyone with design skills!
- Create a Youtube Channel! Youtube channels payout creators and even smaller youtube channel owners are making money! Create a free plan to get started and in a year you could be making more money than you ever thought possible. *This is definitely not for everyone and I only suggest this method if you LOVE the idea of having a channel.
- Earn a passive income selling your physical product AS a digital product. It may take some creativity but it IS possible.
Example of more digital product ideas as passive income methods:
- Turn your wall art into a digital product by making it printable wall art.
- Turn your hair cutting services into VIRTUAL hair cuts and now you can sell your digital service
- Turn your goal of writing a book into writing ebooks. You can even write them for other business owners as a side income and generate passive income by collecting commissions off of each sale. You will always have more control if you write your own though.
Want to create digital products and more creative ideas like this? Inquire here and we can start strategizing how you can make passive income and earn money from a digital product business.
Digital products and digital downloads are definitely my favorite passive income idea. An online course or Online courses are amazing but not the online way to earn passive income!
Looking for a much more in-depth list of passive income digital product ideas?
Grab this [FREE] passive income online workbook that will help you develop a passive income stream for your own business, online store, or side-hustle! Earn money completely passive on your own website!
Some tricks for making and selling digital products/digital downloads that are actually valuable for your customers
- Redefine your digital products! Go back and make ALL of your digital products better, even the free ones. Don't settle for mediocre digital products just because it is non-refundable. Keep adding more and more value and your digital products will help make you money passively.
- Ask for reviews and feedback, and actually listen to your customers. You can also give them out free in the beginning to a few people you trust in your space that will provide you with valuable feedback.
- TEST. TEST. TEST. Seriously, test everything. The user experience from buying to using. Print it out if it's printable, use it in action, make sure you are positive that your product works exactly as you are saying it does.
Marketing strategies for earning passive income from a digital product
Now that you know what kind of products to create, let's talk about how to actually generate passive income from them. The most important thing is to get your products in front of as many people as possible. There are a few ways to do this.
- Create a sales page for each product and promote it through social media or other channels like email marketing.
- Sell your products on marketplaces like Gumroad, Etsy Store, or Creative Market (amazing for exposure but you will be stuck paying fees).
*I suggest Etsy over Creative Market because they take 40% from your digital product sales! Which is insanely high and not cool for small business owners.
- Bundle your products together and sell them at a discounted price. This is a great way to increase the number of people who purchase
- Content creation specifically ABOUT your products. Think blog posts, IG reels, TikToks, Pinterest Pins, and Blog posts.
- Bundle your products with other creators. Collaboration benefits both parties and leads to stronger product awareness.
Now it's time to take action and start increasing your own business's bottom line and make completely passive income online! If you have any questions or need help getting started, feel free to reach out. I'm always happy to help other entrepreneurs grow their businesses!
Do you have a passive income strategy that you're using to grow your business? Share it in the comments below! I'd love to hear from you. 🙂