Selling informational products is a great way to make money utilizing the digital economy. In this business model, an expert in a specific topic can create evergreen assets and sell them to as many people as they can reach out to.
Two people have to come together to make the sales cycle complete and they are sellers or experts who create products and buyers who want to purchase them.
The next question is “how do they discover each other? ” Though they are many avenues this can take place, Gumroad seems to stand out amongst all.
Are you hearing about Gumroad for the first time, figuring out how to make money on Gumroad, or are looking to increase your sales on Gumroad? This article has been created to help you navigate your way around Gumroad easily.
What Is Gumroad?
Why should I Join Gumroad?
Gumroad provides help to software developers, freelancers, artists, freelancers, and many other experts to earn an online income. This is why it remains the preferred choice for content creators and online business owners.
Also, what makes Gumroad stand out from the crowd is the fact that Gumroad not only delivers high-quality downloads through system payments and online sites to customers but also manages physical products.
1. Gumroad makes it easy to Convert Prospects.
Gumroad has built a successful reputation for selling online, making it easy for customers all over the globe to trust you.
The widgets in it, let the customers buy a product simply by a single click on any page of your site.
2. Gumroad comes built-in with top-notch Payment Processing.
Payment processors allow you to access payments worldwide. Gumroad accepts almost all credit cards, including Discover, Visa, American Express, Discover, and more.
And once the payments are processed, you can easily transfer your Gumroad account balance into your bank account or PayPal.
3. Gumroad helps you handle Shipping for physical products.
Gumroad allows you to sell and helps you deliver physical products on its platform. In Gumroad, you can automatically adjust the shipping charges based on customers’ location, verify the addresses with Gumroad’s algorithm and ensure that the product is delivered to the right place, improve customer service by sending them tracking numbers, and set up automatic alerts to let your clients know when their product will be delivered.
Apart from that, you get to also establish variants for different styles and sizes of products, and access customizable SKUs to track the inventory for your products.
4. Gumroad supports Customer Subscriptions and Relationships.
Is your business built around subscriptions? Gumroad has all it takes to sustain your business.
Gumroad lets you set up payment options that allow the customers to pay monthly or yearly for the products.
You can also create fixed-month subscriptions or combine the subscriptions with license keys to quickly sell the software to the customers.
How Do I Make Money Online With Gumroad?
You need a Gumroad account to access great features on the platform. Anyone with a Gumroad account with the right application or skillset can be on their way to becoming an internet millionaire.
Anyone can decide to sell anything on Gumroad, provided they adhere to the official policies and guidelines of Gumroad.
One downside is that there are only a limited number of payment options available. Gumroad does not offer a way to track inventory levels. This means that if you are selling physical goods, you will need to keep track of stock levels yourself.
Finally, Gumroad charges a 3% processing fee on all transactions. Overall, Gumroad is a great platform for selling both physical and digital products.
Do you want to build an income online with Gumroad? Here is how it can be done.
1. Build an audience.
Building an audience is the first task you should embark on before thinking of making it online. You want to also ensure that you’re growing your audience with the right people who will truly be impacted by the work you do.
Building an audience requires that you have identified a topic and you have useful content that can be distributed to aid conversions.
Next is to choose the best platform that can help you build an audience, in most cases, it can be a social media platform, or an email marketing funnel, whichever works best for you is fine.
Gumroad does not come built-in with a feature that allows you to build an audience, All it does is provide you with the infrastructure you need to sell just about anything you want.
2. Sell eBooks.
As tablets and e-readers continue to rise in popularity, more people turn to ebooks over hardback and paperback versions. An eBook can consist of text, images, or a combination of both.
Creating eBooks is a valid way to make money online.
Businesses use eBooks to acquire leads, educators rely on them to share up-to-date content with students.
Making an ebook can be overwhelming. It takes compelling writing, visual appeal, and solid research.
Gumroad makes it easy to sell Ebooks and get paid easily on its platform, all that is needed to be done is to select the eBook option when creating a product on Gumroad and set in the details.
I wrote a comprehensive guide on how to create an eBook and become successful with it. Check out the link to the article to learn more.
3. Sell physical products.
Gumroad not only offers an avenue to sell a digital product but physical products are also not left behind.
Anyone with an ideal product can sell host it on Gumroad, attract the right audience and make money off it.
I wrote a comprehensive guide on how to start an e-Commerce business and become successful. Check out the link to the article below to learn more.
4. Sell online courses.
Selling an online course is one avenue when it comes to building an income online. These days, more people are looking for novel types of quality content to explore online, especially when it comes to learning new skills.
One way to cater to this rising demand, while also generating revenue, is to create and sell an online course.
There is a huge demand for knowledge and you can get paid for imparting this knowledge and expertise via the creation of an online course.
Creating an online course will allow you to position yourself as an authority in your field, foster a community of like-minded individuals around your business, and expand your reach – all from within your home.
Creating an online course requires a lot of hard work and effort on your part, so running a test before you begin will allow you to validate this online business idea as one that will pay itself off down the line.
Gumroad comes built-in with diverse functionalities that allow anyone to host and sell their online course for free.
I wrote a comprehensive guide on how to create an sell an online course. Check out the link to the article below to learn more.
5. Start a Podcast.
Creating a podcast lets you reach a brand new target market: people who might otherwise never find or consume your long-form content because they prefer the audio format.
I wrote a comprehensive guide on how to start a successful podcast on this blog. Check out the link to the article to learn more.
6. Start a Paid newsletter.
Content creators or industry experts usually focus on creating a lot of free content that their audience can benefit from.
But in doing so, they have made it an unsustainable business strategy for themselves as it doesn’t pay the bills.
So people can provide such paid content to have a recurring revenue stream, in the long run, to supplement their livelihood and keep creating content for their audience.
Even with a few subscribers, they’ll be able to earn a good amount of money and slowly expand over time.
Even if you have only ten subscribers, if you charge $5 every month, you’ll get $50 at the end of the month.
A paid newsletter is an exclusive newsletter made by a company or creator that people pay to receive via email.
People can pay for these newsletters on a monthly or even yearly basis. Now you might wonder what the difference is between a free and paid newsletter.
The main difference between a free and paid newsletter is that a paid newsletter usually offers exclusive content or something with unique value that is not found in other free newsletters or on the Internet. Gumroad comes built-in with functionalities that allow you to create a premium newsletter for free.
I wrote a comprehensive guide on how to build an email list and become successful. Check out the link to the article to learn more.
7. Start a Membership Business.
Another means to build a passive income on the Gumroad platform is to start a membership business.
A membership business is simply a company or organization that creates a product or service which people pay to access regularly.
Going a bit deeper, a membership business is something to which people belong. It’s a community, centre, or hub that provides enough ongoing value to people that they become ongoing members rather than one-time customers.
Membership businesses are built upon long-term relationships vs. short-term transactions. Anyone can build passive income-selling membership on Gumroad.