Newseager Digital Store (NDS) is a platform where anybody can buy or sell their developed digital products . Digital goods are defined as “stored, exported and electronic.” These goods are not tangible and are sent electronically through online links such as email or download links following the payment by the customer.
There are many types of digital products and services available to customers. These include e-books, music files, internet and television, broadcast media, fonts, sketches and photographs, art and print, online magazine subscriptions, websites and memberships, online ads, coupons, e-tickets, templates for websites, brochures, webinars and video tutorials, online marketing tools, software, games, real money among many more.
BEAUTY of DIGITAL DEALS
As with physical products, there are pros and cons of selling digital goods online. Some of these are discussed below:
1) Benefits of Selling Digital Goods
Other benefits were shared by Jimena Diaz de Vivar. He owns a store in PrestaShop, an ecommerce market. His products include design templates for theme party themes. This includes printable items such as invitations, posters, nappies and food delivery items that can be downloaded.
Unlimited Stock – One major advantage of a digital product is that it will never run out of stock. This feature is different from the digital object. As long as the product remains customer-friendly and therefore demanding, it can be sold endlessly without worrying about production and storage.
Low Cost – Although there may be significant costs such as research and development when it comes to digital products such as high-end software or games, there are other low-cost or non-existent costs. This includes the cost of goods, packaging, shipping, storage and handling of goods.
Extensive Customer Domain – In the absence of traditional barriers such as customs and transportation costs, the area of product availability can be significantly increased. The customer distance from the product creator becomes insignificant and millions of potential customers can be easily found.
Automated system – Since all digital product processing is easy, a good automated system can help digital products sell almost exclusively. The order can be entered at any time of the day and processed until delivered without waiting for anyone to intervene.
Other benefits include:
Few Errors – In the delivery and delivery of tangible products, there is always the possibility of a missing or defective product. Correcting these mistakes can take time and cost. On the contrary, in digital products such errors are much easier to correct. Incorrect download link, error downloading all errors are easily fixed with low cost and time.
2) Disadvantages of Selling Digital Goods
As expected, there is a slight decrease or challenges in selling digital products and services. These include:
Equipment Maintenance – All equipment involved in building and distributing a digital product needs to be maintained to ensure that there are no problems with the system. This means end-to-end solution, servers and internet connection among other features.
Competition – The many benefits of this type of product mean that there is always a chance that more and more people will have the same or similar idea and will be in the market fighting for customer and dollar attention. More competition will mean that no premium prices can be charged and instead, the creator may need to sell below the actual value of the product in order to establish a customer base.
Copycats – A digital product can be easily copied once sold. Whether it’s an e-book or a drawing, the barriers to production are very few and will only lead to more competition in the market.
What Should You Sell?
The first step in establishing an effective digital product is deciding what to do and sell. You can have a particular talent or interest that can be transformed into a digital product that will be desirable to others. Part of the battle to establish a successful digital product business is choosing the right product to sell. The right choice can mean a profitable business while the wrong choice can lead to a loss of investment and income. Some important questions to ask about the final product include the following.
What is the need and provision of a product concept?
Examine market trends to assess product demand and how well this requirement is best met by existing suppliers. A good market can be when there is a great need but not enough.
Can you offer something more?
If the market already has many suppliers, then the question will be asked whether you can offer something different or something more to the customer company. This unique feature should help set you apart from others in the competitive field.
Is your chosen product in the niche category?
It is easy to find the right balance of high demand and low supply if you are looking for a niche category or special products that cater to a certain segment of customers. Less competition among providers will mean that it is easier to build a strong customer base and get a quick profit.
What is the ratio between production costs and profits?
The key question to ask yourself is whether you will be able to make a profit with your digital product or not. What are your costs or production costs and what is the potential price that you can actually charge to customers. If the return on investment is worthwhile, your product should follow suit.
Does your product have a long life or habit?
Subsequent trends may be good for a temporary business. There may be other things that are not following a certain trend and that are always wanted by a wider audience or a niche market. This is a situation that is difficult to quantify as some rare styles end up becoming more common. Market analysis and research can help in this regard. Another good place to analyze styles is online markets that specialize in the sale of digital products.
How Can You Build?
Once you have decided on your type of niche, now is the time to make a digital product actually. It is important here to be organized to ensure that you are able to create a product successfully instead of losing interest in the middle. Some basic steps to follow in the product creation process include:
Plan – Without deciding what to do, this step should include the time spent collecting and consolidating all your thoughts and ideas into one place. It is a good idea to use mindmaps or discussions to give depth to the idea you have chosen.
Create First Draft – Once ideas have been planned and edited, it’s time to do the first draft. This applies to all types of products. In fact, it is the first attempt to create any content. This step can help solve problems with the perspective itself and the method used to create the content.
Polish – This is where the slaughter is tested and the first attempt is made to ensure that the final product is polished and ready for completion. It is important at this stage to get rid of the work and approach it with a new and open mind.
Edit – In this section, it is best to have someone else look at your work to read or edit it. If you do not have a large budget for this activity, you can ask a friend to kindly sell the service or offer it to other major users or key customers to preview.
Package – Packing on a visible product can be as important as physical. when writing an ebook, make sure it is in the right format to download and read, if it is a video, you need to design the right page to upload and ensure easy access.
How Can You Sell?
With the product in hand, now is the time to sell it to the right customers at a reasonable price. Here NDS presents you the platform to sell your digital products online. You can login or register as a NDS vendor or as a NDS seller start selling your digital products for free . In behalf our website will charge you at 10% commission for every product you will sell through our platform. Other company will also help you in the marketing of your digital products (paid plans).
How to register as a seller ?
How to Find Customers
An excellent product will never sell if it can be sold to the right audience at the right time and in the right way. Marketing is key to getting customers and is not as easy as it seems. Some good customer service ideas include:
Educate – If you have some knowledge or experience along the way, it is a good idea to share this with your audience. This helps to build trust and confidence that leads people to have the opportunity to buy what you sell over time.
Social Networks – Social networks are a great way to connect directly with the audience and build community. This community can later become recipients of your marketing activities. The appropriate communication network should be selected based on the type of targeted customer as the various components are likely to use certain types of communication.
Advertising on Industrial Websites – If your industry offers websites or forums, it might be a good idea to advertise your digital product there to get the right audience.
Approach to Right Blogs – There may be bloggers making comments on your targeted customer category. These bloggers can be contacted and provided with samples of your product to receive updates and to make buzz.