Maximizing Your Earnings: What to Sell on Gumroad
Written on
Chapter 1: Introduction to Gumroad
If you've been keeping up with my posts, you may know that I recently launched my debut product on Gumroad. I wanted to explore the platform and see if it was possible to earn money by selling digital products online. According to Gumroad’s report, 17.26% of creators generated at least $1,000 from the platform in 2020, contributing to a total of $142 million in sales. This clearly indicates a significant opportunity for creators. If you're a content creator, it might be worthwhile to dive into this platform and see what it has to offer.
Section 1.1: Digital Products You Can Sell
If you're unsure where to begin, here are some ideas for products to sell on Gumroad:
Downloadable Files
The slogan "Go from 0 to $1" embodies Gumroad’s philosophy, removing barriers like fear and self-doubt that often prevent new creators from taking the plunge. Many creators hesitate to monetize their skills due to feelings of inadequacy. However, stepping out of your comfort zone can lead to growth. Start small with something as simple as a checklist to earn your first dollar on Gumroad.
Popular downloadable digital products include:
- Checklists
- Templates
- Calendars
- Curated lists
- Case studies
- How-to guides and tutorials
- Designs
- Media files
- Apps
- Software
- Podcasts
To get started, all you need to do is name your product, describe it, upload preview images and the product file, set a price, and click "Publish." And just like that, your first digital product is live!
Section 1.2: Online Courses
Have you mastered a skill that could help others? Why not consider teaching it through an online course? Successful course creators can earn anywhere from $1,000 to $10,000 monthly. For instance, Jacques Hopkins, founder of Piano in 21 Days, has made over $2 million by teaching a straightforward piano method.
However, don't rush into creating your first online course just yet! It's a time-intensive endeavor requiring validation of your course idea, script writing, filming, and editing. This explains why online courses tend to be priced higher than checklists or eBooks. Despite the challenges, online courses are increasingly popular due to their high-profit margins, recurring revenue potential, and the ability to cover any topic without dealing with inventory or shipping.
Subsection 1.2.1: The Growth of eLearning
The global eLearning market is projected to grow from approximately $250 billion in 2020 to $1 trillion by 2027. This indicates that there's still plenty of room for new entrants in the market.
Section 1.3: eBooks
Selling eBooks is a personal favorite of mine. Here’s a tip: eBooks represent an untapped avenue for content creators. You can easily repurpose your popular content into an eBook and sell it on Gumroad! This approach is efficient and relatively quick, as you don’t have to come up with new ideas; you can leverage what has already proven successful. For example, my eBook is based on a well-received article I wrote titled, "A Simple Way to Write an Article That Hits Google's Front Page." In just the first month and a half, I made seven eBook sales without any promotion.
Section 1.4: Memberships
Memberships provide a way to create a community centered around a common interest or challenge. If you have skills to share, consider offering a paid membership to those eager to learn from you. For instance, Jesse Enkamp, a karate instructor, has generated six figures by selling a karate membership through Gumroad. He realized there was a consistent demand for his expertise and decided to create a product that addressed it.
Section 1.5: Exploring Physical Products
While many opt to create and sell digital products for their perceived ease, you can also promote and sell physical items on Gumroad. As a marketer, I’ve always wanted to design a productivity planner for marketers, and as a content creator, I dream of crafting an inspiration journal for side hustlers. Even if you’re faster at executing these ideas, I won’t mind sharing them! Kristina Garner, founder of Blossom and Root, is a top creator on Gumroad, selling homeschooling products. She began simply by writing for her daughters, demonstrating that your own experiences can be the foundation for valuable products.
Final Thoughts
In my journey as a marketer and content writer, I've discovered that virtually anything can be sold online. The topic and competition are secondary to the value you offer and how effectively you market yourself. I created my eBook on "How to Hit Google Front Page," fully aware that many similar solutions exist. Yet, I managed to earn over $100 from it in the first month.
Was it luck? No. Your success stems from your dedication, effort, and persistence. If you want to learn how to make your first $1,500+ from selling eBooks on Gumroad, grab my guide. You can gain full access to all stories on Medium for just $5/month through this link. Your membership will directly support me and other writers, enabling us to keep producing helpful content for you!