How To Make Money On Gumroad in 2024 As a Beginner- Gumroad alternatives

Imagine receiving a monthly $1000 deposit into your bank account for working only 5 hours.

Does it sound impossible?

Well, it’s not quite. Because people have been doing the same.

Creating a product within 5 hours and selling it on Gumroad is one of the easiest ways to make money.

All you have to do is make a good quality product and put it out there for selling.

If you charge $30 for a product, and make 1-2 sales every day, only one product can make you $1000 a month.

Now you must be thinking, that it all sounds fun but how to make money on Gumroad?

Think of this article as a roadmap to your first $1000 on Gumroad. You’ll get to know how Gumroad works, how to sell on Gumroad, the Gumroad payment methods, and everything else you need.

Are you ready? Let’s dive right into it.

If you want to sell Digital products without having a website then read this.

Before you know how Gumroad works you need to know what it is.

So Gumroad is an online marketplace that lets you sell your digital products. And of course, it’s one of the most popular platforms for creators.

Gumroad gives you free tools that can track your sales and keep the process hassle-free. If you want a platform where you can sell without worrying much about the complexity, Gumroad is for you.

As harsh as it may sound, not everyone makes money on Gumroad.

You can only do that if you’ve got a good mix of marketing strategy and an audience before you start selling.

Trust me on this, no one will actually tell you how to sell on Gumroad with a solid plan. You have to read this next portion really carefully.

To avoid staying unnoticed, follow these steps before you actually sell your product:

Research Well

Nothing beats well-conducted research when it comes to your sales. If you know your audience well, the chances of your success are tenfold.

You have to:

Do these three things and then start positioning your product in a way that resonates with your audience well.

Target Audience

After you’re done sorting out a specific audience, it’s time to dive deep into their problems. Go to Quora or Reddit to find out what people talk about, and what they want.

You can also talk to a few people who are a part of your target audience and determine their interests and pain points.

Know what kind of product they want, and how your product can be the one they choose.

Try focusing on:

Your Product

You might think you’re well versed about what your product is. But that’s not all.

You need to mold your product in a form your audience will buy it. Think about the time and money they have to invest in your product. Do they have it?

Remember to add three points to your product:

Then, go to Google search and look at what others are talking about. Find out a gap that’s there, and fill it with your product.

Your Competitors

Lastly, research about your competitors is extremely important. You have to look carefully at the mistakes they make and the things that make their product kill the market. You can learn from both their good and bad.

See what works for them, and what doesn’t. Then refine your product accordingly. Try to add a unique angle to your product.

For example, if you search, for “Best eBooks for Copywriting”, you’ll find some results. Study them and it’ll make all the difference.

Once you’re done creating your product in accordance with your research, you’re officially ready to launch your product. Take the following steps to understand the process:

1. Set up Your Account

Before doing anything, you have to sign up for Gumroad. It’s the easiest thing to do. You just have to go to the Gumroad website and click sign-up. Then enter your username, email address and profile picture and set up your profile.

You’ll then receive an activation link via email. Once you click on the link, your account will be all set for selling on Gumroad.

2. Listing Your Product

Your account is all set? Alright. Let’s move towards listing your products.

Go to the “Products” tab in your dashboard and click on “New Product”. From here, you have to provide information about your product. A little description and title can do but you’d want your product page visually appealing. For that, add the following:

• Images: Add high-quality images to capture your potential buyer’s attention. Whatever image you add, should be visually appealing. Also, incorporate your brand colors in the images you’re putting.
• Product Description: After checking your image, the buyers would want to check the description of your product. You need to make it compelling.If you don’t have experience in copywriting, you can use templates or get help from AI to do your work. Three things your product description should have:• Easy to read text• Understandable writing• Reflection of value you provide.
• Testimonials: You need to ensure your buyers that you’re not a bad investment. For that, you need to add some client testimonials that you can have by rolling the product in your network first. Your buyer needs to know that your product has the potential to bring the change they require. So place your testimonials and let sales roll in! And there you have it, your product is live and you can sell it easily.

3. Set Your Prices

No matter how great of a product you offer, if it doesn’t resonate with your buyer’s affordability, it’ll flop. You can try all you want, but you need to align with your audience, at least when you’re a new seller.

You can try checking different pricing plans and see how they work because it’ll greatly depend on the nature of your product that determines the price.

Bonus Tip: Add freebies or some sort of free bonus to your paid product. It’ll attract your buyers because everyone likes free stuff.

Also, you can introduce a free product first and then urge your buyers towards a low-ticket product.

4. How’d You Like To Get Paid/ Gumroad Payment Methods

There are a number of Gumroad payment methods. You can select PayPal or Stripe. You can also connect your bank account with Gumroad so it directly transfers money once you make a sale. There are other options as well, like Apple Pay and Google Pay. You can select any option that suits you best.

5. Promotion

Product listing isn’t all what you need to do to bring in sales. You need to promote it as well, and let your buyers know that it exists.

You need to leverage the Gumroad Discover page. Gumroad isn’t just an e-commerce platform but a full-fledged marketplace. Your buyers can search for your product. So make sure you select all the right categories while listing your product.

But is the Gumroad Discover page enough? Absolutely not, so this is what you can do:

These three and all other ways you can think of, you have to utilize them and make your product visible.

You can also write some persuasive and compelling copy to maximize sales. Remember, you have to connect to your audience.

6. Get Money Rolling In

When your buyer makes a sale, he/she will be directed to a checkout page. After your buyer completes the transaction, they’ll receive a download link for your product. And you’ll get money directly to your account according to the Gumroad payment method you’ve chosen.

Gumroad deducts 10% from your every sale as its fee. You’ll also get an email notification once the buyer makes the sale.

You can sell almost anything on Gumroad. From eBooks to music, from courses to printables, literally whatever comes to your mind.

Let’s get deeper:

And this isn’t all. There’s a lot more you can sell, like video games, digital subscriptions, plug-ins and even physical products(but physical products will cost you a shipping fee).

While you’re a new creator, many have conquered the space and made a lot of money. To make you believe me, I’ll talk about a few names here:

While these are big people and you might think they had luck, I’ll tell you another story that will relate better to you.

My Gumroad Story

So yes, I also made some money off Gumroad.

And while I didn’t make millions, it wasn’t some meager amount either.

So it started with selling some random eBooks. And I failed. So then, how did I make money on Gumroad?

You must be thinking I’m fooling you around. But I then shifted my focus. I started selling Midjourney Prompts and I made good money.

When I was selling “random” eBooks, I didn’t know my audience, and I didn’t know what I could do to help them.

But when I finally got the knack of it, money rolled in. That’s why it’s important to follow the steps I told you before you start selling.

FAQs

Conclusion

Alright, that’s all about it. I’ve given you a complete guide on how to sell and make money on Gumroad. So before you go, let me do a quick recap for you.

1. Design eye-catchy product images
2. Promote Your Product well
3. Believe in yourself
4. Know your audience
5. Do your research

That’s all you need to make a sale on Gumroad. So don’t wait for tomorrow, start selling now.

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