You don’t need millions of followers to make a sustainable living as a creator. At Thinkific, we've seen a shift to creators taking back power (and profit) through digital products. In the creator economy, the majority of revenue is made through ads and brand sponsorships but we’re seeing more and more creators take control by selling their own business vs. selling someone else’s business. Digital products are one way this is happening. They’re effective because you own the product so you get all the revenue (vs. hosting ads) and as a result, you need less followers. (From my conversation with Omer Khan on his SaaS Club | The SaaS Podcast, full episode here: https://lnkd.in/eyycHmRJ)
Another great thing about digital products is that there isn’t a cost to produce beyond the initial creation. Before exiting my eCommerce business, we had tangible costs to produce the product, ship it (to the warehouse), fulfill, then ship it to the customer. Not to mention costs associated with returns. Digital products have no COGS and are pure margin
Digital products not only give creators more control, but they also allow for greater sustainability without the need for massive followings. It’s about creating value and building a business, not just chasing numbers.
Stating your own business if you have a following is a great plan
Very helpful, Greg. Thanks 🙌🙌🙌
Creating visuals that turn attention into sales
6dDigital products are a goldmine tbh. I am working on some. I feel like, thriving as a creator. It’s not about catching attention. It’s not about getting the most followers. It’s not about having the most engagement. It’s about valuable ideas. And knowing how to sell your expertise. Productize, Build A Network, & Leverage Results Greg Smith