DPI: Stripe 2024 Update, Trends + 3 PLR Products

Hey Insiders !

Welcome to another exciting edition of The Digital Product Insider! We're here to help you turn your creativity into profit with the latest trends and actionable tips.

Before we jump into this week's content, a quick note: Last week, I talked about the unfortunate experience of being hacked. I made a detailed video on YouTube explaining what happened and sharing tips on how you can protect yourself. Be sure to check it out on the you tube channel by CLICKING HERE don’t forget to subscribe !

Important Update: Stripe’s May 2024 Terms Update

What's New? Stripe has made some important updates to its terms and services, these are not new and have been around for some time, They published clarification of this in May 2024. These changes include a more streamlined dashboard, making it easier to manage your transactions, products, and customer information. They've also added a new Products section that centralizes various Stripe services for easier access.

My Chat with Stripe I read through the Prohibited and Restricted Businesses section of the website and the section ‘content creation’ I really wanted clarification on as I feel its not clear at all. . I reached out to Stripe to get the lowdown on these changes and asked for a list of services and products that it might include. This was the reply:

How Does Stripe 2024 Update Affect You As A Digital Product Seller?

From my own research this week, these changes have been around since January. However, recent clarifications and a surge in affiliate marketers promoting Stripe alternatives have brought this topic to the forefront. Don’t panic or jump ship just yet! This mainly affects those using platforms like OnlyFans, influencers asking for tips, and those selling MRR products with unrealistic income claims. Some SaaS owners seem to have have also been impacted.

Several factors like high refund requests or charge backs, improper terms, or operating in high-risk niches can trigger these impacts. I don’t think you have anything more than usual to worry about right now, But this can change; it's always better to put preventive measures in place because you don’t want to get shut down because of a refund request or that Stripe might not fully understand your business model.

What You Can Do:

1. Privacy Policy and Terms & Conditions: Make sure your website's privacy policies and terms & conditions are up-to-date and compliant with GDPR and other relevant laws.

2. Easy Contact: Keep your contact information easily accessible on your website.

3. Great Customer Service: Offer quick and supportive customer service to address issues promptly, reducing refund requests.

4. Seek Legal Advice: Always seek legal advice to ensure compliance with the new terms. For specific questions, reach out to Stripe directly.
   

   I know that refund requests and chargebacks are an emotive subject, its not really something we can always control, but getting our own house in order if the issue does arise means that we can try and resolve with stripe quickly. And please feel free to drop me a reply if you need support are worried about this. 

Stay Ahead with AI Video Generators: Introducing Sora

What's Sora? Sora is an upcoming AI video generation tool from OpenAI that transforms text prompts into high-quality, realistic videos with detailed scenes and lifelike characters. It's set to revolutionize content creation by making it faster, easier, and more dynamic.

Why Consider Sora Now?

• Be a Pioneer: Get a competitive edge by being an early adopter.

• Enhance Your Products: Use AI-generated videos to boost your digital products' appeal.

• Expand Your Services: Offer high-value video content creation services.

How to Get Started:

1. Stay Updated: Follow OpenAI for Sora’s release updates.

2. Plan Your Content: Identify products that can benefit from video content.

3. Explore AI Video Creators on the Market:

   Synthesia: Converts text into professional-looking videos using AI avatars.

   Pictory: Creates short branded videos from long-form content.

   Lumen5: Transforms blog posts into engaging videos using AI.

How to Monetize AI Video Content:

• Premium Products: Charge more for digital products with instructional videos.

• Subscription Services: Offer access to a library of AI-generated videos.

• Custom Services: Provide video creation services to other businesses.

Capitalize on the Growing Demand for Social Commerce

What's Social Commerce? Social commerce uses social media platforms like Instagram, Facebook, and Pinterest to sell products directly. It combines social media engagement with e-commerce, allowing customers to browse and buy without leaving the app.

What’s Hot:

• In-Feed Shopping: Selling products directly through social media feeds.

• Social Commerce Integration: Seamlessly integrating shopping experiences into social media platforms.

Why It’s Trending: These methods make it easier for consumers to discover and purchase products while browsing their favourite social platforms.

Product Ideas You Can Create:

• Shoppable Social Media Posts: Templates for Instagram shoppable posts and Facebook shop layouts.

• User-Generated Content Templates: Designs for customer reviews and social media shoutouts.

Actionable Tip: Create easy-to-use and implement content for this niche. Think about the trends we discussed in the previous newsletter and create on-trend items.

Explore Niche Product-Based Markets with High Growth Potential

What’s Hot Online Right Now:

Products: Barrier creams, rosemary oil for haircare, Kojic acid serum, salmon bites for pets, and ashwagandha water.

Why It’s Trending: These products are gaining popularity due to their specific benefits and high engagement on platforms like TikTok.

Product Ideas:

• Skin Care Trackers: Printables for tracking skincare routines and products used.

• Haircare Journals: Logs for tracking haircare routines and product effectiveness.

• Product Factsheets: Use these as packaging inserts or lead magnets for product-based businesses.

Actionable Tip: Identify niche markets that align with your expertise and create digital guides or tutorials to tap into these growing trends.

This Week’s Etsy Trending Products from Insight Factory, Thanks to my Digital Product Mentor Jessa Bellman, we have this weeks trending products!

• ‘Junk Journal Kit 2024 4th July’ You could create steampunk or futuristic style 4th July junk journal items

• ‘Spray Tan After Care Card’ You can create some eye catching Instagram posts, or maybe even a collection of Tik Tok hooks !

• ‘Sneaker Ball Birthday Invitation’ High demand for the party seasons coming up

• ‘Event Planning Social Media Template’ Create some amazing templates for event planners to promote their services

• Watercolour Space Clipart Bundle Astronaut Rocket PNG’ Go wild with some spacey watercolour clipart creation in Midjourney.

FREEBIES !
Here are THREE free products I created for you to get an idea of how to take action on the things shared in the newsletter. These have PLR rights, so you can use to create your own and resell them!

Kojic acid serum Instagram Shoppable Posts
Kojic acid serum Fact Sheet
Spray Tan After Care Card 

Thank you so much for reading this edition of The Digital Product Insider! Your feedback means the world to us. We’d love to hear your thoughts on this newsletter and find out what topics or content you’d like us to cover in the future. If you found this newsletter helpful, please share it with your friends and colleagues. Let's keep growing and learning together!

Enjoy and happy creating!

Sara: The Digital Product Insider

^{P.S The emails and freebies I share may contain affiliate links, They are at no extra cost to you but help my business grow ❤️}

 ^{👉Want to learn how to create and sell templates on Etsy ? I have a secret back door entry to} The Passive Income Society, ^{the biggest value and impactful membership for digital Product creators on the internet.}

^{👉 Done for you digital products you can sell again & again -} Secret Weapon PLR