Image via WikipediaPLR stands for "Private Label Rights" and it means that you can buy marketing rights to products created by a third-party, and sell it as your own.
Although you have lesser control over the product itself, it helps you save thousands of dollars, hedges your risk, and allows to to dominate niche markets easily. Most PLR products are quite affordable too.
So how do you make money from PLR products? How do PLR products fit into your overall marketing strategy for your online business? Here are three of the most profitable ways to turn PLR products into a viable source of residual income:
1) Create Stand-Alone Products
This is the easiest, but also the least profitable long-run solution to using PLR products. Why?
Other people would have also purchased the same PLR product.
Most people who buy the rights are lazy and want to "flip" the product as soon as possible without much work on their part.
If you're one of the first to secure the PLR rights to any particular product, and you can set-up a complete marketing site in record time, you can make money easily. But eventually more people will sell the same product, and always at a ridiculously low price.
These people become your competition, making your product less unique by day.
PLR product vendors usually impose a limit on the amount of people they sell to, as well as the "recommended" minimum selling price for all customers. Beware of those who don't set these limits, as the PLR products they sell could have already been over-marketed.
However, if you completely change the product name, inject the sales site with fresh new graphics, and add your own content to the original PLR product, you may just be able to stand apart from the rest and continue selling it as a stand-alone offer for years to come.
2) Create Membership Sites
Membership sites are hot because of their potential to generate a stream of residual income, especially sites that charge for monthly content. It allows you to change a lower "entry" fee, which getting maximum profits from every single customer.
If you already have an existing membership sites, PLR products can also help you ease the burden of finding new content for your members. Most PLR products are flexible enough that you are allowed to split, combine or remake the product into small content pieces.
If for example you purchased 10 PLR ebooks, you can always give your members one title a month, for 10 consecutive months. Or you can split up each ebook into a series of smaller "reports" and send it to your members monthly.
If you are creative, you can do a lot of things with PLR!
3) Sell Them as DVDs or Seminar Material
This is a great idea simply because most people will not do it. This option is much more difficult to do then selling online, depending on your background and experience of course. However, if you are confident about producing DVDs and shipping them, this is a golden opportunity.
A lot of people prefer to receive a DVD instead of downloading online.
You can use the excellent production and mailing service by Kunaki (www.kunaki.com) to automate production of DVDs and delivery. They work on a "print-to-order" basis, so you will not have to stockpile hundreds of DVDs at home.
If you're a seminar speaker or organizer, PLR products can also add real value to your event. It allows you to keep your seminars lean while providing maximum value.
For example, if you teach people how to create a blog and make money online, it's very difficult for you to provide them with hands-on coaching during a one-day seminar. If you purchase PLR products (screen cam videos), then you can just pack all the videos into a DVD and focus instead of teaching the concepts and theories of blogging.
Using PLR products is really easy if you know what you're doing, and if your PLR provider makes an effort to keep all material up to date.
Stay away from one-time deals unless you want to repair the product yourself when it's broken. Most probably, even the website where you bought the PLR product will no longer be around.
That's why it's important to look for great sources of PLR products, PLR videos and PLR membership sites. Look for continuous development of the product, as well as support from the PLR vendor.
These are things most people take for granted, and ignoring it will likely cause you to fail before you can even get started.
So how do you make money from PLR products? How do PLR products fit into your overall marketing strategy for your online business? Here are three of the most profitable ways to turn PLR products into a viable source of residual income:
1) Create Stand-Alone Products
This is the easiest, but also the least profitable long-run solution to using PLR products. Why?
Other people would have also purchased the same PLR product.
Most people who buy the rights are lazy and want to "flip" the product as soon as possible without much work on their part.
If you're one of the first to secure the PLR rights to any particular product, and you can set-up a complete marketing site in record time, you can make money easily. But eventually more people will sell the same product, and always at a ridiculously low price.
These people become your competition, making your product less unique by day.
PLR product vendors usually impose a limit on the amount of people they sell to, as well as the "recommended" minimum selling price for all customers. Beware of those who don't set these limits, as the PLR products they sell could have already been over-marketed.
However, if you completely change the product name, inject the sales site with fresh new graphics, and add your own content to the original PLR product, you may just be able to stand apart from the rest and continue selling it as a stand-alone offer for years to come.
2) Create Membership Sites
Membership sites are hot because of their potential to generate a stream of residual income, especially sites that charge for monthly content. It allows you to change a lower "entry" fee, which getting maximum profits from every single customer.
If you already have an existing membership sites, PLR products can also help you ease the burden of finding new content for your members. Most PLR products are flexible enough that you are allowed to split, combine or remake the product into small content pieces.
If for example you purchased 10 PLR ebooks, you can always give your members one title a month, for 10 consecutive months. Or you can split up each ebook into a series of smaller "reports" and send it to your members monthly.
If you are creative, you can do a lot of things with PLR!
3) Sell Them as DVDs or Seminar Material
This is a great idea simply because most people will not do it. This option is much more difficult to do then selling online, depending on your background and experience of course. However, if you are confident about producing DVDs and shipping them, this is a golden opportunity.
A lot of people prefer to receive a DVD instead of downloading online.
You can use the excellent production and mailing service by Kunaki (www.kunaki.com) to automate production of DVDs and delivery. They work on a "print-to-order" basis, so you will not have to stockpile hundreds of DVDs at home.
If you're a seminar speaker or organizer, PLR products can also add real value to your event. It allows you to keep your seminars lean while providing maximum value.
For example, if you teach people how to create a blog and make money online, it's very difficult for you to provide them with hands-on coaching during a one-day seminar. If you purchase PLR products (screen cam videos), then you can just pack all the videos into a DVD and focus instead of teaching the concepts and theories of blogging.
Using PLR products is really easy if you know what you're doing, and if your PLR provider makes an effort to keep all material up to date.
Stay away from one-time deals unless you want to repair the product yourself when it's broken. Most probably, even the website where you bought the PLR product will no longer be around.
That's why it's important to look for great sources of PLR products, PLR videos and PLR membership sites. Look for continuous development of the product, as well as support from the PLR vendor.
These are things most people take for granted, and ignoring it will likely cause you to fail before you can even get started.
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