Today we are going to look at how you can get the absolute best mileage out of purchasing resale rights to products in your niche market.
We'll also look at how you can increase your profits from products you create yourself by adding resale rights to information products that you create...
In the last lesson we looked at how you can create an unlimited number of products that you can sell from your website.
Now we will take this a step further by discussing how you could sell resale rights to these products to others in your niche market and gain massive leverage for your efforts...
Resale rights marketing is an emerging approach in the field of Internet marketing. There is a growing market for resale rights products
in thousands of different niches. More and more online businesses are catering to this segment
of the market and have been reporting monumental profits from their efforts -
why don't you join them?
These rights may either be basic resale rights (where the purchaser can resell the products he will buy), master resale rights (where the purchaser can resell the resale rights of the products he will buy) and private label rights (where the purchaser can alter the products he will
buy and then sell the products as they are or with accompanying resale rights as well).
These products give purchasers the opportunity to earn income from their purchase immediately because you can then sell the product to other people for profit.
You won’t have to pay the creator any cumbersome royalty fees. And you get to keep all the income
you earn from the sales you make - sure beats affiliate programs.
A lot of Internet marketers who have decided to enter resale rights marketing have been prone to committing some fatal mistakes that really cut into the earnings potential of this approach.
Let’s take a look at the top four mistakes that resale rights marketers make so that
you'll learn how to avoid them...
Your potential customers will find this unsettling because every purchaser of your resale rights products will be each other’s competitor.
Though the idea of selling an unlimited number of copies sounds very lucrative, you’d find it hard to make some sales because people will stay away from offers where they have unlimited competiton. The value of your resale rights products will diminish.
Solution: Set a cap as to how many copies you will sell.
Essential in resale rights is the license which every purchaser must abide by. This license is a where the rules are established, and is likewise your guarantee to the purchasers that such rules shall strictly be implemented for the protection of their interests.
Solution: Carefully write down the limitations of the rights you will convey, and present the same in a license agreement, preferably in .pdf format.
Adobe documents cannot easily be changed, and it would give your potential customers the security they need.
Nothing can compromise your brand worse than your failure to live up to your promises. If you promise to sell 50 resale rights of a product, you can’t sell 51 and claim a counting error.
If you promise to give them private label rights, you cannot restrict the way they could alter the work.
Solution: Exercise candor and keep your
promises in your dealings at all times.
This may be a plus for your potential customers, but it surely is a negative for you on a business standpoint. If the product promises high salability, you’ll be better off selling it yourself, exclusively at that, or you may choose to have an affiliate program (Clickbank is a no hassle way of selling information products).
Nonetheless, this is a matter of preference. If you want to focus on product creation and allow your customers and affiliates to take care of the marketing aspect, then this would prove to be a good approach.
Solution: Have a business plan before venturing to resale rights marketing.
I really hope this lesson helps you to supercharge the distribution of your own information products by giving others in your niche the chance to spread them virally for you.
Until next time,
Take it easy,
P.S. If you need any help setting up your site, your autoresponders, or anything else in your business, I can help. Just visit my Services page to see the various ways I can assist you to get the most out of Solo Build It.
P.P.S. And don't forget, you can review any of the other lessons in this coaching course by visiting this page.