Extract the zipped package downloaded from ThemeForest to your desktop, in the extracted package you will find awsm.zip file which is the WordPress theme.
You can install the theme in two different ways:
FTP Extract awsm.zip file and upload the extracted folder to /wp-content/themes/ folder on your server. If you are not familiar with FTP method, you will have to use some of FTP sofwtare, for example FileZilla.
WordPress Navigate to Appearance -> Add New Themes -> Upload page. Select awsm.zip file. Press the Install Now button to upload and install the theme.
After uploading the theme, you have to activate it. Navigate to Appearance -> Themes page to activate the theme.
Check this page made by ThemeForest on how to install a WordPress theme correctly: ThemeForest knowledge base
HOW TO DO AWSM THEME UPDATE WITHOUT LOSING ANY DATA?
Navigate to Theme Options -> Updater and specify your ThemeForest username and API key
Once the new update is available, you will be notified via Dashboard -> Updates screen alongside other installed themes and plugins. And you just update AWSM with a single click.
Download the latest .zip package from ThemeForest and extract it
Find “awsm-wp” folder inside the package
Use FTP to overwrite current theme folder on your server with new one
If something goes wrong during an update, don’t panic. You can always do the following without losing any data and settings:
Deactivate and delete currently installed AWSM theme
Install the latest version