Another exciting area that may be of interest to you in affiliate marketing is marketing digital products.
Digital products are products that are delivered electronically, rather than physically.
These can include e-books, online courses, software, and more.
As an affiliate marketer, promoting digital products can be a great way to earn commissions and increase your income.
By promoting these products through your website or social media channels, you can earn a commission for each sale that is made through your unique referral link.
Digital Products – Categories
There are many different digital products that you can choose to promote, depending on your interests and that of your audience.
Some popular categories include education, make money online, personal development, and technology.
Courses are also digital products.
Therefore, if you have some knowledge that you would like to share, this form of marketing is great for you.
Depending on the your area of interest, you would build a great business just from your own course material.
The Price Point
One of the benefits of promoting digital products is that they often have a lower price point than physical products.
A lower price point can make them more accessible to a wider audience.
People who are interested in growing personally, will see access to courses in personal development as must have in their lives.
Pricing right a product that is focused on personal development will be very attractive to a certain number of people with that interest.
Shipping, Storage And Delivery
Additionally, digital products are typically easier to store and distribute, as they do not require physical inventory.
They are delivered instantly, with no wait to receive them if the purchaser wants immediate access.
The nature of digital products can lead to specialized marketing.
Monthly Residual Income
As a result, monthly residual income is possible selling these kinds of products.
When you sell a washing machine as a marketer, you receive that one payment for the purchase of that commodity.
Therefore if you want to earn more money as an affiliate marketer selling washing machines, you would always have to find new customers. Always having to find new customers is going to keep you busy.
Whereas, in the case of digital products, it is easier to create monthly residual income.
You find and keep the same customer who pays monthly for the product.
The motivation of someone who is buying a washing machine is different from the one who is buying a course.
The person who is willing to pay that monthly fee sees value that makes the payment a must in their life.
Let’s take a look at a practical example so you can put this in perspective. If you are selling a digital product that costs $100 and $100 monthly, how many customers would you need to earn $1000 per month?
10 Customers at $100 each would give you $1000 per month.
If you stop there, you will continue to earn that $1000 per month for as long as those 10 people remain customers.
Once you get to your goal, you focus on maintenance.
If someone from your list dies, you need to replace that person to maintain your $1000 per month.
And if you want to up your income to $10,000 per month, you up your marketing to meet your new goal of 100 people paying the $100 per month.
What will be the difference in this case? Marketing.
Attraction Marketing
Attraction marketing is a strategy that focuses on attracting customers to your business rather than actively seeking them out.
This can be particularly effective for digital products, as it allows you to reach a wide audience without the need for traditional forms of advertising.
There are a few key elements to effective attraction marketing of digital products.
First, it’s important to have a clear and compelling value proposition. This should explain what makes your product unique and why it is worth purchasing.
Next, you’ll want to create content that is designed to attract and engage potential customers.
This can include blog posts, social media posts, and other types of online content that provide value to your audience.
By consistently creating and sharing valuable content, you’ll be able to build trust and credibility with your target audience.
By carefully targeting your ads and crafting compelling email campaigns, you can effectively attract new customers to your digital products.
Overall, attraction marketing is a powerful strategy for promoting digital products and building a loyal customer base.
By focusing on providing value and building relationships with your audience, you can effectively attract customers to your business and drive sales.
Conclusion
Digital products are more disposed to monthly residual income than physical products.
However, with physical products you have an easier time getting buyers. Of course, you have the challenge of always having to get new customers when you market physical products.
The choice is yours.
You can do either one or both.
If you want to specialize in earning monthly residual income then marketing digital products is your best option.