It is impossible to deny that technology has become a fundamental raw material for society. With the advent of digitalization, not only have many of the products we are used to consuming changed to become digital products (such as ebooks), but also new products have emerged that needed to be more viable in the past, such as podcasts.
This is how “digital” products have become part of our daily lives. However, many people still need to learn what this type of product and its industry is all about. That is why in this article we will deepen about it.
Indeed you just learned that the digital products industry is one of the industries that generate more wealth today. Most people consume several digital products daily without even imagining all the backgrounds behind them.
We are referring to the lengthy process involved in their creation and realization, which requires a new work methodology, a different way of visualization, and a lot of creativity to start building the product from scratch until its launch. This process involves going through many stages, including product discovery, product design and branding, mobile and web development for its launch, and the application of marketing to give it the necessary boost.
Of course, this involves a large team encompassing many professionals from different backgrounds, such as finance, marketing, design, sales, etc.
Table of Contents
What are digital products?
Before the era of digitalization (thanks to the emergence and globalization of the internet), a product was a tangible object that could be touched, felt, seen, and smelled (in some cases); however, today, this has changed.
Today, we deal with digital products, which are not physical; this means that they are not tangible and have no form, such as an Ebook (electronic book) which cannot be touched and felt like a traditional book. The same happens with software or a web page, etc.
This, in general, implies excellent advantages. For example, digital products occupy a different space than physical products, so no (physical) storage space is needed. There are no assembly or material-related costs; the costs to create this product are only related to labor since only skilled labor is required. Reproduction and delivery are immediate. In addition, this type of product can be a manageable investment for its creation. It also generates passive income, which means it continues generating profits even if you are not working.
The most popular and consumed digital products
There are many digital products, but the most popular and most consumed by society daily are:
* Apps and software: even free ones generate a lot of profits due to the advertising they contain or the purchases they offer.
* Video games: an industry that grows without parameters and is one of the richest.
* E-learning: courses, classes, tutorials, and any teaching content offered digitally.
* Ebooks: books in digital format.
* Audio files: These allow the creation of podcasts or apps that play sounds and songs (such as Spotify).
* Digital art: A relatively recent technology that encodes art (NFT). So art can be digitally marketed in NFT format.
* Videos and photographs: Image banks offer thousands of videos and pictures (also graphic designs) for purchase.
The creation of a digital product
Creating a digital product involves going through several stages that allow the proper development of such a product. Next, we will review, in general terms, which are the steps to follow to create a good quality digital product. Of course, this does not mean that these steps are the only way to create a digital product, but they are the guidelines that help to design a good one.
- Type of product: Define the idea of what you want to sell.
- Market research: It is essential to know which audience you want to reach, that is, who would be the potential customers. Understanding the needs and what the customer is looking for to sell the product is necessary.
- Product design: The development and design of the product. Visualization is essential to make a prototype for testing.
- Launch: Implementation of marketing and communication strategies.
- Maintenance: It is necessary to be updated to remain competent; this means incorporating the new technologies that are appearing and being innovative to sustain the quality of the product.
Digital products are increasingly consumed. They involve a lot of planning, research, and production work but offer an excellent cost-benefit ratio.