Can I Really Profit From Resale Rights?
The simple answer is Yes, but in today’s marketing and reselling we need to think outside the box. The temperature in the marketing climate has chilled dramatically for the past spam filled web space and affiliate link laden content tactics. Now is the time to refine your craft, test products use products and sell products.
The reality is resale rights products, dependent on licence, are amazing flexible and there are many ways to profit.
The first way, of course, is to simply resell the product. As obvious as this may seem there must be a reason that you decided to purchase it initially? Was it because you needed it, wanted it, felt it would benefit you or your business? If so then there are others out there who will feel exactly the same way. Assuming you have used it, tested it and still find the product of benefit (why else would you be considering reselling?) then get it up and advertised. Product reviews, sample insert content, rich snippets of text but be creative and put the entire package, as you received it. Easy!
We are assuming that every other reseller has done the same, in terms of directly selling the original and so we need to realize even more profit through a little thought and crafty creativity.
Take another look at the product. What does your licence say? Can you break the product up? Repackage? Can you split elements? Are you able to turn 1 item into several? You could realistically sell this one package in many ways.
- full set as you purchased
- main product plus a bonus (bonus being an element removed and redesigned as stand-alone – think eBook and video)
- smaller separate products – think 10 articles rather than 1 eBook
- text turned into video
- text turned into pod-casts
If you are working in niche specific lines, do you have an item which would complement this product. You could add the additional item as a bonus for buying. Always keep in mind the end-user, your customer. Who are they going to buy from. I imagine they will buy from the seller who offers the best deal at the best price. If your product also comes packaged with 1 or 2 free bonuses you will make the sale.
Use the resale rights item as back-end product on the thank you page for one of your higher converting sales products. We are all aware that psychologically the time customers are most likely to make a purchase is directly after making their first. Therefore your second offer, the resale rights product, is going to coincide with this psychological desire to purchase. We also know that backend products can cost more than the original product therefore don’t limit your backend to smaller items.
Remember in online marketing and sales it is not always about instant profit from an individual product. Think long-term. If your licence permits it give the product away. While this may sound counter intuitive and you will not make profit on the product, used strategically as a giveaway on a squeeze page to collect quality leads can pay dividends. A large list of quality leads opens many profitable doors. Collecting email addresses by gifting a truly useful product initially will see a list of consumers who trust you, like your products and are able to purchase from you time and time again.
Other ways to move consumer focus away from competitors is to make yourself obvious. Consider product launches, webinars, teleseminars or joint venturing with other marketers who have large subscriber lists.
Think Visuals and Aesthetics
We know visuals sell products. Make your packaging more attractive than other people’s. You typically will not have the right to change the product, but that doesn’t mean you can’t change the package, even if that means ensuring your webpage, or newsletter or mail out is professional clean and different.
Change your sales letter. Don’t use the same sales letter that other resellers are using. Make yours unique. Move away from the typical sales pages that accompany these products, make it seem new, fresh, revamped.
By re-branding you may in fact find this one product can become several.