How do you sell digital products? When there are so many people selling digital products already. Is it even worth trying to sell digital products now?
In this blog post, I'm going to share with you an important step that most digital product sellers skip. It results in their products sitting on their website or on Etsy with no sales.
So how do you sell digital products if there are so many people out there already doing the same thing?
Competitive Edge
So most digital product sellers don't take the time to figure out what their competitive edge is. I will get into why that is so important in a second, but first I want to clarify what I mean by competitive edge.
Your competitive edge is your business strategy.
I found an interesting quote by Roger Martin in this video by Harvard Business Review.
"A strategy is integrative set of choices that positions you on a playing field of your choice in a way that you win."
It's a great video that I recommend you watch.
Why is your business strategy or competitive edge so important?
Because so many people out there are selling digital products already. You want to take the time to discover and have clarity on what your competitive edge is.
I don't particularly like the term win because to use that term implies that there are losers. Because everyone can win if they take the time to find their own competitive edge. You can win in your own way when you know your competitive edge. Jane Doe who solves the same problem as you can also win. Because she knows her competitive edge and it's going to appeal to a different person.
Is the digital product market too saturated already?
I would say yes and no.
If you are listing exactly the same kind of products that everyone else is listing, it is saturated. Your product will probably sit unloved and unsold. You may sell the odd one or two. There is little reason for anyone to pick your product over someone who is more established than you. Particularly if you both have similar products.
People with existing large audiences. Who already have mega fans have more of a chance of selling products like this. But if you are starting to build your own audience. Creating a product that's like products that are already on the market isn't going to get you very far.
But you don't have to give up yet.
If you take the time to work out what your competitive edge is. You have that way of standing out and you don't have to compete on price. Which means you can price based on the value you're bringing. That is also in alignment with the customer that you're selling to.
There is still so much opportunity within digital products. If you take the time to figure out what your competitive edge is.
We all have unique value to share with the world, but I also know it can be hard to see within yourself. I know because I struggled with that myself for a long time. And I thought I was a bit of a jack of all trades, master of none. So if you are struggling to figure out what your competitive edge is. The first thing I recommend you do is try and block out what other people are doing.
Comparison
Because paying attention to what other people are saying, particularly online. Can lead to you comparing yourself to others. Which can feel awful when you feel less than other people.
Or it can lead to copying. I'm not saying you would copy on purpose. But when you are consuming other people's content all the time. It's very easy to try and mimic that person and their success. Particularly if you love the same topic that they're talking about.
You can inadvertently start copying the way that they're doing things. Because you're a fan and you can do it without even realising you're doing it.
Is it worth selling digital products these days?
Yes, absolutely! They are my favourite thing online.
And you have the opportunity or possibility to make a lot of money if you stick with it. But it's not a get rich quick scheme. So you have to think of it as a proper business.
I'm writing this blog as a bit of a reality check. In response to a lot of videos out there that say how easy it is to make a basic printable or checklist. Put it up on Etsy and make a hundred dollars a day.
That's not the reality for most people. Most people can't expect to spend a couple of hours making a simple one page document. Put that up for sale and then expect to make a fortune from that one product. Simple digital products like that are pretty saturated now. They're all over Etsy and it's a race to the bottom in terms of pricing of these products.
So it's well worth taking the time to create a proper business with clear positioning. And a good understanding of your competitive edge. This makes sales so much easier and you don't need to use price as your only differentiator.
If you're thinking to yourself that that's all very well and good but I don't know what my competitive edge is. Then I recommend that you read this blog post next.
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