Creating and selling a digital product can be a profitable way to monetize your knowledge. Whatever your level of knowledge in your field, someone two levels behind you looks up to you and wants to know how you arrived at your current position. As a result, a digital product can be a rewarding way to make money from your knowledge.
Digital products can be anything of value supplied electronically and allow you to meet people's need for quick answers to their concerns by simplifying complex information into small chunks that can be easily digested. Indeed, digital products such as online courses, ebooks, PDFs, cookbooks, diet plans, and many more can be profitable online business ideas without needing a physical product.
However, apart from the fierce competition of selling online, one of the most frequent difficulties you could encounter while selling a digital product is accepting payment and making payments convenient. Making payment hassle-free for consumers is crucial to selling digital products since consumers have various other options successfully, and a minor inconvenience with payment can interfere with their purchasing decision.
The payment landscape is rapidly evolving, with automation becoming the norm. As a result, consumers are looking for the most convenient payment method to complete their online transactions while keeping their identity and financial information secure. Offering customers a simple and secure payment option is essential to satisfying customer demands and increasing the likelihood that your digital products will be purchased. Cryptocurrency is one of the payment methods that can satisfy customer expectations.
In today's modern digital economy, cryptocurrency is becoming increasingly popular as a payment method within the digital space, with consumers and merchants adopting the technology due to its numerous benefits, such as instant, secure, fast transactions and cost-efficient methods of processing payments.
So, here's how I increased the sales of my online video course on physical fitness by 30% by setting up a cryptocurrency payment gateway to enable my clients with seamless and borderless payment transactions. But, before I get into the transformational impact of cryptocurrency on my revenue, here are the difficulties I had with traditional payment methods.
Backstory: Challenges With the Traditional Payment Method
Like most creators with a digital product, putting the item on a platform to sell was usually the best way to go. These platforms facilitate the sale of digital products by providing a marketplace that connects creators to their target audience and an inbuilt payment processor that lets customers make payments on the platform. So I listed my video course on some of the most popular marketplaces to connect with my target demographic.
However, these platforms have shortcomings that make achieving a 100% profit on product sales challenging. One disadvantage of using these platforms as a marketplace is that they charge a large percentage of total sales as a commission for providing a platform to support the digital product sale. Another issue I encountered with using these platforms as a marketplace is that they display multiple other creators' digital products and encourage unhealthy competition, which usually causes customers to become distracted. Thus, maximizing profit with these platforms was a major challenge.
With the amount of money I was losing to the commission on these platforms, I decided to promote the online video course by creating a sales page to increase sales and use a more direct payment option. While I initially assumed there wouldn't be much to deal with regarding unhealthy competition and big commissions, it became clear that the sales page payment alternatives were limited, particularly for consumers in some regions. Furthermore, transaction completion takes time, with high transaction fees and payment failures forcing customers to leave their purchase.
Another issue I faced with the sales page payment method was chargebacks and other hidden costs, which lowered my earnings significantly. However, given the payment issues I'd encountered, particularly the limitation of only selling to consumers in certain locations, I knew I needed a global and universal payment system that would allow me to sell physical fitness videos to consumers regardless of their location and at a cheaper transaction cost.
The Crypto Discovery
My search for a payment solution that would allow the sale of digital products at lower transaction costs and without geographical restrictions took me to the CCPayment blog, where I learned about cryptocurrencies and how they may help me with my payment concerns. Several articles on the blog highlighted the numerous benefits of cryptocurrencies and how accepting them as payment can enhance my bottom line by allowing me to attract new customers in different regions without suffering costly transaction fees.
With my acquired crypto knowledge, I was ready to set up the crypto payment gateway on my sales page and join the millions of merchants who benefit from the quick, safe, and cost-effective transactions that adopting cryptocurrency brings. Without a doubt, I found CCPayment to be the best choice because it uses a one-of-a-kind unified payment API that can be easily integrated with any website or e-commerce platform, allowing businesses to accept 45+ cryptocurrencies through a single checkout page.
Integrating CCPayment on my sales page was a breeze as it offered payment buttons through APIs and a hosted checkout that can be easily integrated without writing a single line of code. Also, whether my consumers use CCPayment or not, the platform provides them with a frictionless, seamless, and secure checkout experience.
An Immediate Increase in Demand
Integrating a cryptocurrency payment gateway on my digital product sales website resulted in an instantaneous surge in demand as buyers appreciated the new payment method due to its low transaction price, lightning-fast transaction, and anonymity it provides. As a result, traffic conversion increased, resulting in increased sales and profitability.
CCPayment, on the other hand, eliminated the fear of fees eating into my profit and assisted me in maximizing my earnings with a service fee of 0.03%, which is 0.97% lower than the industry average. CCPayment gives me advanced insights into my business by organizing my cryptocurrency earnings by orders, income, expenditures, refunds, and other filters and allowing me to see the asset flow and order details at a glance.
Accepting cryptocurrency payments with CCPayment transformed my business and increased my sales by 30%, freeing me from the constraints and challenges of traditional payment gateways. Aside from the increase in sales and profits, integrating CCPayment opened my digital products to a new market of tech-savvy customers all around the world who enjoy the flexibility of making payments without payment restrictions.
Indeed, integrating the crypto payment gateway put me ahead within the industry and helped me develop long-term consumer relationships. And with CCPayment, I provided a seamless payment experience to my customers, which helped me retain customers and gain their loyalty. It was a fascinating experience adopting cryptocurrency payment through CCPayment.
You, too, can! Integrate CCPayment into your business today and embrace the future of payments.