8 Ways to Increase Digital Product Sales

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Key Takeaways

  • Sell Products on Multiple E-commerce Marketplaces: Expand your reach by using various e-commerce platforms to sell your digital products, catering to different product niches and audiences.
  • Use Multiple Sales Techniques: Employ sales techniques such as upselling, cross-selling, and down-selling to optimize your sales strategy.
  • Bundle Digital Products: Offer bundled packages of your digital products, providing value and incentives for customers to purchase multiple items at a discounted price.
  • Increase Actual Value: Enhance your digital product’s intrinsic value by offering more features or content, and consider raising the price to reflect the increased value.
  • Increase Perceived Value: Elevate how customers perceive your digital product through branding, visuals, and persuasive copywriting, focusing on creating a positive first impression.
  • Offer Discounts: Attract price-sensitive customers with carefully timed and well-executed discounts, but be cautious not to undermine the perceived value of your product.
  • Streamline Product Offering: Simplify your product line to reduce customer confusion and management complexity, concentrating on improving existing products rather than constantly creating new ones.
  • Create Content: Leverage content creation aligned with your product to build an audience that can potentially convert into customers, utilizing various mediums such as written, video, audio, and visual content.

Sell Products on Multiple E-commerce Marketplace

You are not bound to any individual e-commerce marketplace as you sell digital products. To increase digital product sales, you should research all suitable e-commerce marketplaces where you could sell your digital products.

Plenty of different e-commerce marketplaces are available online, and other sites work better for some products while others work better for others.

Example: Artstation works well for digital art-related digital products, whereas Envato Elements works better for graphics-related digital products.

When you sell on multiple e-commerce marketplaces, you increase the income streams and the chances of making sales.

E-commerce marketplace examples:

Use Multiple Sales Techniques

Three of the most used sales techniques when selling digital products are down-selling, upselling, and cross-selling.

Depending on the e-commerce platform or e-commerce marketplace where you sell products, they might have an upsell, cross-sell, and down-sell mechanism built into their service.

Down-selling is typically employed when there’s a high probability that the prospect won’t make a purchase. Offering a lower-priced product helps prevent a complete loss of the sale. Upselling is most effective when your customers are inclined to spend more, whereas down-selling suits budget-conscious customers.

  • Upselling: Upselling involves presenting a superior product or service option to consumers, surpassing their initial choice or preference.
  • Cross-selling: Cross-selling is the sales technique where a seller suggests additional products or services to the customer during the purchase process, enhancing the overall value of their buying experience.
  • Down-selling: A down-selling strategy aims to offer a consumer a more budget-friendly or lower-priced product or service as an alternative.

Bundle Digital Products

You often start selling a few digital products, but your inventory might have grown after a while, so why not offer a digital product bundle? The bundle can have ten best-selling digital products for a discounted price.

You can also bundle only a certain amount of products together to keep the overall price of the bundle consumer-friendly.

Be careful not to offer the bundle with too big of a discount, as that can negatively affect the perceived value of your product.

Increase Actual Value

To increase digital product sales, you can increase the overall value of your product. In the past, you might have offered an ‘A’ in your product. Increase the value by offering ‘B’ and ‘C’ instead of just ‘A’. Research the market, see what your competitors offer, and how you can top them.

This does not mean that you should keep the price intact. On the contrary, increase the price as you increase the overall value of your digital product.

This way, you will increase the customer value and overall sales.

Increase Perceived Value

While increasing the overall value of your product is highly tied to perceived value, you can increase perceived value with other means, too. Perceived value is what the customer feels and thinks of your digital product when they see it for the first time.

Perceived value is all about how customers perceive your product.

Best ways to increase the perceived value of your digital product:

  • Branding: Branding is about your business’s overall message to your customers through logo, slogan, design, and overall image. Brands are built with time and high effort.
  • Visuals: Product images, font, color palette, etc., are all things that can increase the perceived value of your product. (Creative Fabrica is one of the best places to get visual resources.)
  • Copywriting: With good copywriting, you can increase the perceived value by highlighting how your product can improve your customer’s life

Offer Discounts

Discounts are a great way to entice price-sensitive customers to buy your digital products. Discounts can increase sales, while the overall profit might be lower. Use discounts carefully, as they lower the perceived value of your product.

Offering too great of a discount can signal to the customer that your product is only worth the discounted price, not the original price.

Discounts work best when there’s a clear reason behind the discount, such as holidays (Valentine’s Day) or special events (Black Friday).

Discount pricing strategies:

  • Offer discount in round numbers. $400 vs. $399
  • Place the discounted price below the original price.
  • Visually differentiate the sale price from the original price. Have a different text color for the discounted price than for the original price.
  • Tell a reason why there’s a discount. This signals the discount is temporary and not permanent.
  • Reduce every digit in the discounted price. $49, discounted price $34
  • Give percentage discounts for prices below $100. $1997/$400 off vs. $97/20% off.

Streamline Product Offering

You can sell many smaller digital products or a few bigger digital products. Streamlining your digital product offering gives customers fewer options and lowers the confusion about what products they should buy from you.

Fewer products also make your business easier to manage as you don’t have to update multiple products but only a few.

Fewer products also make you focus on improving the existing products rather than creating new ones every month. This strategy mainly applies to online courses and subscription services.

Create Content

Creator economy, content creation, and user-generated content are all ways you can increase your digital product sales. The more views, people, followers, etc. you have for your business, the more likely you are to make sales.

The key thing to note is that your content needs to be aligned with the product you are selling. Otherwise, you are attracting people to your content but not customers to your business.

Content creation is like your mini business, where you build an audience that can eventually convert to customers.

Best ways to create content:

  • Written: Blogging and SEO (search engine optimization).
  • Video: Youtubing and short-form micro-learning video content.
  • Audio: Podcasting
  • Visual: Drawing, illustrating, painting, etc.

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Okuha

Digital Artist

I’m a digital artist who is passionate about anime and manga art. My true artist journey pretty much started with CTRL+Z. When I experienced that and the limitless color choices and the number of tools I could use with art software, I was sold. Drawing digital anime art is the thing that makes me happy among eating cheeseburgers in between veggie meals.

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