how to market digital products

How To Market Digital Products: 5 Strategies for 2024

by | Mar 22, 2024 | Content Marketing | 0 comments

In 2024, the digital product market should hit $7.63 trillion and grow 7.89% annually until 2028. Consumers spend an average of 2.9% (3.2% for those between 18 and 34) of their goods and services budgets on digital products. As one of millions of digital product creators, you may wonder how to market digital products.

5 Strategies for 2024

how to market a digital product

If you are following old online marketing strategies, you’re already falling behind the competition. Check out these strategies for 2024.

1. Market Digital Products Using a Virtual Storefront and Landing Page

Just like physical products, you need a storefront for your digital products. These storefronts help you build a brand identity. It allows your potential customers to see all the digital products you have to offer. You can translate it to other platforms where you also sell your products.

Marketers tend to have a few goals for their landing pages — gaining high-quality leads (43.6%) or increasing sales (33.7%). While the best landing pages have a conversion rate of 11.45%, most industries (75%) have a 2.35% conversion rate and others have a 5.31% rate. Your landing page is a platform you can use to describe your products and services and lead potential customers to your virtual or online marketplace storefronts.

You may still wonder how to market digital products using both a virtual storefront and a landing page. Both your virtual storefront and landing page allow you to track your customers’ actions and show them how your digital product meets their needs. You can gather their information as they subscribe to your newsletter, giving you valuable leads and additional opportunities to convert them and build your sales funnel. They also allow you to present videos and other content that support your digital products and encourage customers to interact with your brand.

2. Invest In SEO

When your clients search for your products, they use specific keywords. When they complete a search, fewer than 1% of your potential clients will click on anything below the first page of their results, and the first listing typically receives nearly 30% of all clicks and 10 times more clicks than the 10th website on the list for that keyword.

When you learn how to market digital products, search engine optimization (SEO) is one of the first strategies you should implement. Optimize everything from your social media posts to your website and any online advertising you create. Your SEO strategy should start with keyword research. Then, you create a list that you want to optimize.

Review the websites that rank high in these keywords to identify your competitors. Then, optimize your content for these keywords. Your content and advertising should differ from your competition and include an attractive hook and calls to action. Build links to reputable sources and get backlinks, which move you up search engine results quicker.

Make sure your website loads quickly and is fully optimized. Then, continually improve, update and add new content.

3. Seek Reviews and Partnerships

Today’s consumers search for positive and negative reviews before making a purchase. For example, before they make a purchase or during their online shopping period, 99% of consumers read and consider reviews. Research online reputation management tools that can help you get more reviews and manage them more effectively.

The influencer marketing industry was a $16.4 billion market in 2022 and expected a significant increase in 2023 ($5 billion). These marketers take your products and review them via video on major social media platforms. Influencers know how to market digital products and have dedicated followers of key target markets who trust their reviews.

When you work with influencers and bloggers, you create strategic partnerships. You pay your influencer a flat rate to discuss, post or review your product. They also link to your virtual storefront or landing page. When their followers click your links, the influencer also receives a commission. Because the cost is at least $100 per post, choosing the right influencer to partner with is important.

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4. Market a Digital Product Using Online Marketplaces

how to market digital products

As you research how to market digital products, you will learn that customers purchase most, if not all, of these goods online, and established online marketplaces have significant market share in these areas. For example, Amazon Prime, though it has other benefits, deals primarily in digital products. It had 168 million subscribers in the middle of 2022 and keeps growing.

Therefore, investigate the established e-commerce marketplaces specializing in digital goods, such as Etsy, Amazon, CodeCanyon, Creative Market, Shopify and Gumroad. Because they are already established, these marketplaces can immediately provide you access to millions of consumers. In addition, they will handle the sale and delivery of your digital products to your final customer.

5. Pursue Social Media Marketing Strategies

Worldwide, 4.95 billion people, 246 million in the U.S., participate in social media in some way, and most users have accounts with more than one platform, typically up to 6.7. In addition, individuals and companies spend $219.8 billion on social media advertising.

You can also pay for advertising on social media. However, research to determine the best platforms when deciding how to market digital products on social media. For example, Facebook’s demographics include 70% of 18–29-year-olds, 77% of 30–49-year-olds, 73% of 50–64-year-olds and 50% of senior citizens over 65. In addition, individuals with higher levels of education tend to have higher activity rates, but as their income increases, their participation decreases. Expect to spend an average of $1.86 per click on Facebook, but the conversion rate is 9.21%.

As you learn how to market a digital product, consider your targeted age groups or specific hobbies, likes and dislikes. Although there may be some overlap, each social media platform caters to different audiences. Once you determine what social media you want to target, optimize your content and include links to your landing page, virtual store or online marketplace accounts. Include various content, from simple one-liner posts to reviews and video testimonials or product usage instructions.

How To Market Digital Products With BKA

At BKA, we understand how to market digital products. We can help you build and tackle your SEO strategy, including creating social media and blog content and white-hat backlinking. Get started marketing your digital products with us today!

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