Profitable Pathways: How to Sell Excel Templates Online

This post may contain affiliate links, meaning that if you make a purchase using my link, I may receive a commission at no extra cost to you. 

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Are you toying with the idea of how to make money with Excel and you've decided that you want to sell Excel templates online? Welcome aboard. I'm Lindsay and I've been using Excel almost daily for the past 20 years or so. I also took a few Excel courses back in university (I'm old enough that I learned on a much older version of Excel 😂). I'm also a spreadsheet lover and firmly believe that selling Excel templates is a fantastic way to earn passive income.

How to Sell Excel Templates Online

In this complete guide, we will explore the art of how to sell Excel templates online and set you up to earn some passive income. If you're not familiar with what that is, passive income is making money without working hourly for a company or getting paid per project. You have upfront labour (creating your product) and then you can sell that product 100, 1,000, or 10,000 times without having to make it again. You can make extra money in your spare time or even in your sleep! That sounds like a great idea, right?!

Conversely, active income is where you're working for a company making dollars per hour, or earning money per project (like a contractor). This could also apply if you're a freelancer or if we're still talking Excel templates, you're selling individualized custom templates. You're getting paid by the hour or by the product you sell. You are only making money if you're actively working.

While active income has its benefits, passive income is what you should strive for. Passive income takes time to build and to see the fruits of your labour (aka money), but it's so worth it in the long run. If you're looking for a way to earn active income using Excel, I've written a blog about Freelancing using Excel.

Ok, let's get started on selling Excel templates!

Identify Your Niche

When it comes to selling Excel templates, finding the right niche is crucial for success. If you attempt to target everyone you will essentially target no one. The good news is that if can target a specific audience and cater to their unique needs, you can create templates that truly resonate with your customers. Here are some tips to help you identify a profitable niche:

Understand Your Target Market

Take the time to research and understand your potential customers. What industries or professions might benefit from your Excel templates? Are there specific pain points or challenges they face that your templates can address? By identifying your target market, you can tailor your templates to meet their specific needs.

For example, let's say you're passionate about finance. You might create Excel budget templates specifically designed for small businesses to manage their budgets, track expenses, or analyze financial data, like a small business bookkeeping template. This niche focus allows you to position yourself as an expert in the field and cater to a specific audience seeking financial solutions. You could also simaltanesuly offer solutions to individuals in the form of personal finances templates. Two spreadsheet products, but still within your niche.

Research Popular Categories and Themes

The fastest way to become successful is to do a little research on online marketplaces that sell Excel templates to get an idea of what categories and themes are in high demand. Look for popular keywords related to Excel templates and analyze the competition. This research will help you uncover untapped niches, growing markets, or areas where you can differentiate yourself.

For instance, you might find that project management templates or employee scheduling templates are highly sought after. By delving into these niche categories, you can create templates that address specific project management needs or streamline workforce management, making your offerings stand out in a crowded market.

Align with Your Interests and Expertise

The best way to sell Excel templates online is when you're passionate about the niche you choose. Consider your interests, skills, and expertise. What areas of Excel do you excel in? Are there specific industries or topics you have extensive knowledge or experience in?

For instance, if you have a background in marketing, you might focus on creating Excel templates for social media analytics, marketing campaign tracking, or content calendar management. Your expertise in the field allows you to understand the unique requirements of marketers and deliver valuable templates that simplify their tasks.

The key to a successful niche is finding a balance between market demand and your passion and expertise. Make sure that you are solving their problem or pain point. This is the whole point of building the template – solve a problem.

Create High Quality Excel Templates

Now that you have identified your niche, it's time to dive into the process of creating high-quality Microsoft Excel spreadsheets and templates that will captivate your audience and set you apart from the competition. Here are some essential tips to put those Excel skills to the test and ensure your templates are a cut above the rest:

Know Excel's Features

To create powerful and efficient templates, it's crucial to have a solid understanding of Excel's features and capabilities. Take the time to explore the various functions, formulas, and formatting options available. This knowledge will enable you to leverage Excel's full potential and create templates that are both functional and visually appealing.

Plan the Structure and Design

Before diving into template creation, outline the structure and design elements you want to incorporate. Consider the specific needs of your target audience and organize the template in a logical and user-friendly manner. A well-structured template makes it easier for users to input data, navigate through different sections, and derive valuable insights.

Remember to keep the learning curve to a minimum. Not everyone wants to become an Excel expert just to use your template. Keep it simple so target a larger user base.

Utilize Formulas and Functions

Excel's power lies in its ability to automate calculations and processes. Make use of formulas and functions to streamline data manipulation, automate calculations, and provide real-time insights.

If you're building a budget template you need to make sure that columns are utilizing the sum functions, percentage of total costs per category, etc. Without these, it's just a table and is useless in terms of determining how much money I have left after I pay all my bills.

Incorporate Visually Appealing Formatting and Charts

Visual presentation plays a significant role in the appeal of your templates. Apply professional and consistent formatting throughout the template to make it visually appealing and easy to read. Use charts, graphs, and conditional formatting to present data in a visually engaging way, enabling users to quickly interpret and analyze information.

Keeping with the budget template theme, you could have a pie chart showing the percentage of your budget that is spent on various categories like food, rent, utilities, entertainment, etc.

In terms of colour, you can duplicate the same template but change the colouring. So you might have 5 of the same budget Excel templates to sell but in different colours. For me, if a template is yellow, I'm not buying it. I love a pink one!

This is a preview of a budget template I created. I have utilized SUM functions to add up every category of expense or income, it automatically adds each transaction when you buy similar items (like food for example) and shows the actual total in the table you can see below. The pie graphs update instantaneously and give you a great visual of where you're spending your money. See how I incorporated pink and not even a little bit of yellow? 😉

Test, Test, and Test Again!

Before releasing your Excel templates to the market, thoroughly test them for usability in terms of easy data entry and accuracy. Read that again. Before releasing your Excel templates to the market, thoroughly test them!

Ensure that the templates are intuitive to use, with simple steps and very clear instructions for any complex functionalities. Check formulas and calculations to ensure accurate results. Seek feedback from potential users or beta testers and make necessary improvements based on their insights.

Creating high-quality Excel templates requires a balance between functionality, aesthetics, and user-friendliness.

Setting Up an Online Store

Yay!! Let's do a small celebration for making it this far. You've got your niche audience, and you've created at least one template to sell, now it's time to sell, sell, sell!

Setting up an online store is a crucial step in your journey to make money selling Excel templates. It provides a platform for you to showcase your products and reach a wider audience. Here are some valuable tips to help you establish a successful online store:

Choose Your Platform

When selecting an online platform for your new shop, consider factors such as ease of use, customization options, payment gateways, and integration with other tools.

Note at the time of posting, the information for the platforms below is the most up-to-date, but may not be at this time when you're reading it. Please visit each of the ecommerce platform websites to confirm pricing and terms.

1. SpreadSheetNut – this platform is specific to selling spreadsheets. It is free to join and there are no monthly fees. The minimum listing price is $5.00 per product. You are paid 60% of the sale price until you reach $1,000 in sales and then it's bumped to 70%.
   
   I haven't started on this platform yet, but I have every intention of doing so to increase my reach of buyers. Once I do, I'll update my likes and dislikes on this platform.
   
2. SendOwl – this platform is used to sell digital products. It has 3 levels with the first one being 3 months with no monthly fee, which goes to $9 per month thereafter. Each level higher costs more per month. In addition to the monthly fee, is a per-order management fee which is higher the lower the level you're in.
   
   I've heard of people using this platform and doing well. I have never used it and probably won't because there are other platforms that don't charge monthly fees that are more popular with a larger buyer base, like the next platform.
   
3. Etsy – This is probably the most well-known sales platform at this time. You can sell physical products or digital files or products and it is free to join, but there is a per-listing fee of $0.27 CAD ($0.20 USD) and the listing lasts 4 months. There is also a 6.5% transaction fee per sale.
   
   I really like this platform, it's the one I use for not only my spreadsheet templates, but also a small digital products account I have. It's super easy to use and you can get started for free with 40 free listings which was one of the main things that convinced me to try it. Why not? There's nothing to lose.
   
   If you're really wanting to learn Etsy, my mentor has a Build Your Digital Etsy Empire course that I took and it helped set everything up and start selling. I had my first sale within 3 days of setting up my shop.
   
4. Teachers Pay Teachers (TpT) – your products must be educational in nature and your first product must be free. There is a free version and a paid (annual fee) version. The free version charges higher fees on each sale than the paid version.
   
   If you want to use this platform I would start on the free version until you get started and find your way around and make a few sales. Then I would pay the annual fee (about $60 CAD or $45 USD)to get a higher return per sale.
   
   I am just getting started on this platform myself so once I have used it a bit more, I'll update this with my ‘yay or nay'.
   
   If you want more information on TpT, check out Lake House Mom's blog on Tips for Selling on TpT. I follow her Facebook group and she's got a wealth of information on the topic.
   
5. Your Own Website – If you're a blogger, like me, using your own website is a great way to sell your templates. This is especially useful to eliminate say Etsy shutting down your shop because you supposedly broke one of their rules. While this doesn't happen often, it does happen!
   
   A notable benefit of using your own website is you can create your own brand. It's really difficult to create a brand on Etsy or TpT. There are no fees to a third-party platform like TpT, you can create an audience with email marketing and free templates as a lead magnet. Basically, you have full control of selling your templates.

Optimize Your Platform Listings Using SEO

To maximize the visibility and reach of your Excel templates, it's crucial to optimize your listings with effective Search Engine Optimization (SEO) strategies.

SEO is the practice of optimizing a website or online content (in this case, your product listing) to improve its visibility and ranking in search engine results pages, thereby increasing organic (non-paid) traffic to the site.

The same theory applies to selling platforms like Etsy. SEO techniques help you get your product seen by your niche audience. This is where your niche audience is super important.

For example, I love Nike shoes. It's my weakness. If you have an ad selling “shoes”, you might get 200 people looking, but no one is buying until they have a bunch of questions asked like brand and size. If your ad says “Nike AF1, size 8”, girl, I'm whipping out my purse faster than you can hit upload on that ad!

By applying SEO techniques to your listing name, description, and other elements, you can improve your chances of attracting potential customers and increasing your sales. Let's explore some key aspects of optimizing your listings:

Choose an SEO-friendly listing name.

When selecting a name for your listing, consider including relevant keywords that potential customers are likely to search for.

For example, if you're offering budgeting templates, include terms like “budget,” “financial planning,” or “expense tracking” in the title. This helps search engines understand the content of your listing and increases its visibility to users seeking templates related to those keywords.

Even better would be if you're really niched down and you're focusing on real estate agents because that's your industry, now you're advertising a “real estate expense tracker template”. While you might not get a ton of traffic, the traffic you do get is going to be buyers!

If you just used the term “Excel Template”, you might get a lot of traffic, but not many sales.

Write an informative description

Your listing description plays a vital role in attracting and convincing potential buyers. It should provide a clear and concise overview of your Excel template, highlighting its features, benefits, and intended use.

Incorporate relevant keywords naturally throughout the description to enhance its SEO value. Remember to focus on the value proposition of your template and how it can solve specific problems or improve efficiency for users.

Include must-have information in your listing

To build trust and credibility with potential buyers, ensure that your listing includes essential information.

This includes details such as template compatibility with specific Excel versions, supported operating systems, file format, file size, and any necessary add-ins or macros.

Providing this information upfront helps users make informed decisions and minimizes potential compatibility issues or misunderstandings after purchase.

Optimize images and visual content

Images play a crucial role in showcasing the quality and functionality of your Excel templates.

Additionally, ensure that your images accurately represent the template and its features, providing potential customers with a clear understanding of what they can expect.

Utilize relevant tags and categories

Most online platforms (like Etsy) and marketplaces allow you to assign tags or categories to your listings.

Take advantage of this feature by selecting tags and categories that accurately represent the nature and purpose of your Excel template. This helps potential customers find your listing when browsing or searching within specific categories, improving your visibility and attracting targeted traffic.

Encourage customer reviews and feedback

Positive customer reviews and ratings can significantly impact the visibility and credibility of your listings. This helps in attracting new customers and also provides social proof of the value and quality of your templates.

If you're interested in learning more about Etsy SEO and how to rank on the first page, check out Passive Income Pathways' blog about Ranking on Etsy.

Optimize Your Own Website SEO

If you have your own website and you're blogging away trying to get that coveted first page in Google's search. The fastest way you're going to get seen is by rocking the SEO game. And to do that, you may want to try RankIQ.

This tool is so easy to use. It has a great onboarding video that explains everything there is to know and the best part. If you can't find your niche, they will research and build you a set of keywords! It is ranked #1 for SEO tools and it is the cheapest. I think the only con I would give it, it doesn't allow you a trial to test it out.

Marketing and Promotion

OK, your beautiful template is made, check. You've listed it on your chosen platform, check. Now what? Well, let's get more of your niche's eyes on your listings!

Reach out to Your Target Audience

You already understand your target audience's needs, so speak to them. Whether it's small business owners, finance professionals, or students, speak directly to their needs and demonstrate how your templates can address their challenges. Two ways you can do this are:

1. Create engaging content related to Excel and templates. Capture the attention of your audience by creating engaging and informative content related to Excel and template usage. This can include blog posts, tutorials, videos, or infographics that provide tips, tricks, and best practices.
   
   Share valuable insights, showcase real-world examples, and offer practical solutions to common problems. By positioning yourself as a knowledgeable expert, you build credibility and establish yourself as a go-to resource in the Excel template niche.
   
2. Utilize social media platforms, blog posts, and forums to promote templates. Harness the power of social media platforms, industry-specific blogs, and relevant forums to reach a wider audience.
   Share snippets of your templates, provide useful information and engage in conversations related to Excel and template usage. Be an active participant in these communities, offering assistance and insights when needed. By consistently providing value and building relationships, you can organically attract potential customers who are interested in your templates.

Build Long-Term Relationships and Foster Customer Loyalty

Go beyond one-time transactions and aim to build long-term relationships with your customers. If you have a blog, keep in touch with them through email newsletters, updates, or exclusive offers.

In your sales platform, offer discounts for returning customers to encourage repeat business. By nurturing these relationships, you can create a loyal customer base that not only continues to purchase your Excel templates but also becomes advocates for your brand.

Provide Excellent Customer Support

Ensuring excellent customer support is crucial for maintaining customer satisfaction and fostering long-term relationships.

Offer Prompt and Helpful Assistance to Customers

Be responsive and attentive to your customers' inquiries or support requests. Provide clear and concise answers to their questions and offer guidance when they encounter difficulties with your templates. Respond to their emails or messages in a timely manner, demonstrating that you value their time and are dedicated to helping them succeed.

Address Customer Feedback and Incorporate Improvements

Actively seek and listen to customer feedback regarding your Excel templates. Whether it's through direct communication, reviews, or surveys, pay attention to their suggestions and concerns.

Use this valuable feedback to make necessary improvements and updates to your templates, enhancing their usability and addressing any issues that arise. By actively involving your customers in the development process, you demonstrate that you value their input and are committed to delivering a quality product.

PRO TIP: Look at your competition's reviews. What are recommendations or wishes that their clients have noted? Make sure your product already covers that pain point!

Expand Your Excel Template Catalogue

As you gain experience and establish your presence in the Excel template market, it's essential to continuously expand and diversify your template catalogue. This allows you to stay relevant, cater to evolving customer demands, and attract a wider customer base. Here are some tips to help you expand and diversify your Excel template catalogue effectively:

Monitor Market Trends

Stay up to date with the latest trends and developments in the industry. Pay attention to your target audience's emerging needs, changing preferences, and new areas where Excel templates can be valuable.

Research popular keywords, explore niche markets, and analyze customer feedback to identify potential template ideas. By keeping a pulse on the market, you can anticipate customer demands and create templates that address their evolving needs.

Create New Templates and Update Existing Templates

Regularly brainstorm and develop new templates based on market trends and customer feedback. For example, if your target audience is real estate in Canada and the newest trend is indoor pools and you don't have that in your Selling a Home Inventory Template, well you best be updating it quickly.

Additionally, consider updating and enhancing existing templates to incorporate new functionalities, improve usability, or adapt to changing technology. By consistently offering fresh and relevant templates, you can attract both new customers and repeat business.

Expand into Related Niches or Industries

Explore opportunities to expand your template catalogue into related niches or industries. Identify areas where Excel templates can provide value beyond your current focus. For example, if you primarily offer personal finance, monthly budget and bookkeeping templates, consider branching into project management templates inventory tracking templates or HR-related templates. This expansion is a great way to tap into new customer segments and diversify your revenue streams.

Remember, expanding and diversifying your template catalogue requires a balance between meeting customer demands and staying true to your expertise.

Track and Analyze Performance

To ensure the success and growth of your Exel template online marketplace business, it's crucial to track and analyze the performance of your templates, sales, and customer interactions.

Monitor sales, revenue, and customer feedback

Regularly monitor and analyze your sales and revenue data. Keep track of your top-selling templates and analyze them for reasons why they are doing so well in comparison to your other templates. Pay attention to customer feedback and reviews to gain valuable insights into areas where you can improve your templates or identify new opportunities.

Use analytics tools to delve deeper into your data and uncover meaningful patterns. Look for trends in terms of popular templates, customer demographics, and buying behaviours.

By understanding these patterns, you can make data-driven decisions on pricing, marketing strategies, and future template development. For example, if you notice a particular category of templates consistently outperforms others, you can focus more on creating templates within that category to meet customer demand.

Optimize Strategies for Better Results

Based on the insights gained from your data analysis, refine your strategies to improve your results. Experiment with different pricing models, promotional campaigns, and marketing channels.

Monitor the impact of these changes and iterate accordingly. Test new approaches, measure their effectiveness, and adapt as needed. By continually optimizing your strategies, you can enhance the visibility and appeal of your Excel templates, leading to increased sales and customer satisfaction.

Remember not to make too many changes at once though. For example, if you have a listing that just isn't getting any views, try changing your title, but nothing else. Wait to see if you start getting more views. Alternatively, you can also review your well-performing listings against your poor-performing listings and look for differences.

Why do you think the one is being viewed more often? Is it the title? the description? the product itself (say it's obsolete because of new technology or something)?

Tracking and analyzing performance is an ongoing process. Regularly review your data, look for opportunities for improvement, and adapt your business strategies accordingly.

Time to Get to Work!

Congratulations! You've now learned the essential steps to make money selling Excel templates. There are so many different paths that you can take to make money online that my list above is not exhaustive in any way, it is literally scratching the surface.

Selling Excel templates offers a unique opportunity to monetize your skills and expertise while providing value to others. As digital products continue to gain popularity, it's an exciting time to explore the potential of this market. Don't be afraid to unleash your creativity and create templates that solve real-world problems for your customers.

Now that you have a solid understanding of how to make money selling Excel templates, it's time to take action. Start by brainstorming template ideas, conducting market research, and creating your first batch of templates. Remember, success doesn't happen overnight, so stay persistent and keep refining your strategies as you gain more experience.

I always love feedback, so if you have any questions or comments, please leave them below or send me a message from my contact page.

Good luck!