Recently, I’ve been doing research on different products, USPs, and growth strategies of top companies and I wanted to summarize my thoughts about the differences of selling digital vs physical products in 2016.
If you’re anything like me, you come up with new business ideas on a daily basis. Most of those will never get executed because they’re just silly. As for the rest, there’s generally much more research that needs to be done before committing to a new venture. Let’s talk about some key points to consider before you get into researching trends, niches, and whatnot. Physical Vs Digital products
Many people consider digital products to be the bee’s knees of today’s business models. Low-to-nonexistent distribution costs, painless scalability, and instant delivery to your customer. However, all of that is overshadowed by the simple fact that people have a much lower propensity to actually pay for software. If there’s a sort of free alternative, the masses will flock to it. Let’s break it down.
Digital products are intangible assets or content that are sold and/or distributed online. Digital products can come in a wide variety of different formats such as ebooks, images, videos, games, media, courses, templates, software, services, and more. They’re distributed digitally meaning that they don’t actually get shipped to customers which means that they can instead be downloaded, streamed, or accessed immediately by the purchaser on their computer, smartphone, or tablet.
Physical products may seem to have fewer advantages initially, but it is important to understand what you can leverage in each situation. Note: this list focuses on moreso eCommerce products, rather than the traditional manufacturer + distributor + retailer model.
Digital products have so many different advantages, many of which make them a desirable alternative to selling physical products. In general, digital products are simple to make, easy to distribute, are a sustainable business model, and have a high-profit margin earning potential.
“Good friends, good books, and a sleepy conscience: this is the ideal life.”- Mark Twain
“Many people lose the small joys in the hope for the big happiness.”- Pearl S. Buck
“The best ideas come as jokes. Make your thinking as funny as possible.”- David M. Ogilvy
If you need further convincing that digital marketing is right for your business, get in touch with us. At Crucial Constructs, We’re willing to listen to you and answer your questions. Contact us today!
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