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Services | Support | Coaching Lessons | Affiliate Program Solo Build It Mastery Lesson
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Selling products with resale rights is a very lucrative online business. However, not everyone
has success doing this because some of the intricacies involved elude them.
To ensure maximum profitability with the packages you create, you must learn how to package your resale rights products correctly. And this involves some knowledge on the different factors that make or break resale rights marketing.
Let’s take a look at some of them, their nature and the reasons that some
succeed while other fail, how to avoid the perils they bring, and how to come up with a resale rights package that your prospects would find very difficult to resist.
1. Exclusivity
People will be more interested in buying products with resale rights if their sale is limited to certain number of people.
There are many reasons for this. The most important is the fact that resale rights are appealing in the first place because they provide the purchasers an additional income stream without having to create any product themselves.
But if the product with resale rights is sold to an unlimited number of people, the market will quickly be saturated and there will be little room to make a profit.
The same is true for products with resale rights that may be sold to say 100 or 200 people - because most people are lazy, too much competition will just kill your chances of making quick cash with your resale rights package.
The best approach is to raise your price and sell your resale rights
package to a maximum of 50 people, though a lower number will always prove even better.
2. Price
Though you are justified in selling your resale rights package for a price higher than the value of the basic package, if you sell it for an exorbitant price, you’d have problems making some sales.
As a rule, if you are going to sell a small number of packages, multiply the value of your basic product by three (see below for more ideas on pricing).
Let this be the selling price for your resale rights product. Though, you must remember, the lower the price, the more sellable your offer would be.
By selling 20 resale rights packages at three times the cost of the product, you will still make excellent money on the deal while not creating too much competition for your package buyers - this is the best of both worlds.
Let's say your product sells for $97. Your resale rights package will sell for $297. Twenty sales at $297 gives you $5,940 in extra profit that you never had before...
You can get a $97 product (Ebook, Audio files, Workbook and bonuses) created for between $800 and $1500 with minimal effort on your part and make 3 to 7 times your money in addition to the profits you will make selling the product to your list yourself...
You've gotta love that :-)
3. Restrictions
Resale rights can come with all sorts of restrictions, but too many of them will compromise the value of your product. You may restrict people doing certain things your products for example, and this would alienate some buyers who would otherwise be interested in purchasing from you.
The rule here is to enforce only the restrictions that will preserve the worth of your resale rights product for the benefit of your purchasers. These should be restrictions that are enforceable to all of them so that their interests will be protected from possible abuse by other purchasers.
Typical restrictions include -
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Buyers may not give the product away
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Buyers cannot use the product as a bonus for another product
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Buyers must sell the product for a minimum price
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Buyers cannot include the product in a membership site (free or paid)
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Buyers cannot resell the resale rights to others
4. Market life
Selling your resale rights product when it is at the end of its market life will be tough (products like Directory Generator come to mind...).
People will find little value in your package, since they will have the impression that they’ll have a hard time selling it (remember, most people are lazy and anything that looks like work is to be avoided :-).
To allay their fears, suggest a unique selling proposition they could use to help them sell your product to others.
For example, you could recommend the inclusion of valuable bonuses to increase the appeal of the product if they decide to buy your resale rights from you.
Or you could recommend they include supplementary products to come up with a turnkey package that would likewise increase the offer’s salability.
They might even consider turning your product into a full-blown coaching program with personal consultations by email and phone - for a much higher price of course...
Simply by giving people ideas on how to market your resale rights product,
you will increase it's appeal and be able to sell your 50 packages much more
easily.
And by considering those factors that affect the perceived value of your resale rights product,
you should be able to develop an approach that would make your offer more attractive to potential purchasers.
Action Steps
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Determine a cap for the number of people who can buy your resale rights product. As we have mentioned earlier, the lower the number, the more sellable your offer will be
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If you decide to sell your resale rights product to 40 to 50 people, it is advisable to peg your offer at 1 1/2 times the amount of the basic package if it were to be sold without resale rights
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If you decide to sell your resale rights to 20 to 40 people, it is advisable to peg your offer at twice the amount of the basic package
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If you decide to sell your resale rights to 20 people or less, you could charge up to three times the amount of the basic package as we discussed above
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Prepare a free special report to help your purchasers maximize the profitability of the resale rights product they will be buying. Suggest certain marketing strategies that they may not have considered when it comes to reselling the product they have bought.
This will also give them the impression that you’re a person who over-delivers, which will be great for branding purposes and make your buyers open to purchasing from you again in the future. By doing everything in your power to help your resale rights buyer succeed, you pave the way for many profitable transactions in the future
Just look at hoe Armand Morin and Yanik Silver sell out of their products quickly every time the offer them. This habit of over-delivering is something to model for yourself...
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Offer a after-sales service. This is not limited to merely technical things that come up with the product. It may include consultancy sessions that will help your buyers earn extra income from reselling the product they have purchased from you.
It’s all about the packaging. The conditions, marketing materials and overall presentation of your resale rights product have everything to do with how successful you will be in finding buyers and making your offer a success.
Once you have had success in this area, you could stamp out product after product for your niche market and have a willing team of repeat buyers waiting to promote them for you...
So, how much do you want to make from creating resale rights products?
Better get to it then...
I really hope this lesson helps you to create resale rights products the earn a fortune for you and your family.
Until next time,
Cheers,
P.S. Having problems? If you'd like a hand with anything to do with getting your Solo Build It site performing at it's best, make sure you visit my services page to see how I can assist you in getting the most out of SBI.
P.P.S. And if you want to move on with the next lesson, or review any of the other lessons in this coaching course, you can by visiting this page.