5 FATAL MISTAKES In Resale Rights Marketing And How To Avoid Them
Resale rights marketing is an emerging approach in the field of internet marketing. There is a growing market for resale rights products and more and more online businessmen are catering to this segment and have been reporting monumental profits from their efforts.
Resale rights marketing involves the sale of products with their accompanying resale rights. 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 by nature of the same, can sell the products as they are or with accompanying resale rights as well).
It is not difficult to explain the growing interests on resale rights products. These goods afford the purchasers the opportunity to earn from their purchases, as they could sell the same for profit. They won't have to pay the creator any cumbersome royalty fees. They get to keep all the income they will earn from the sales they manage to effectuate.
*1* Though resale rights marketing does seem like a promising field, it is not completely free from problems. A lot of internet marketers who have decided to enter resale rights marketing have been prone to committing some fatal mistakes that gravely compromise the earning potentials of this approach. Let's take a look at the top five mistakes that resale rights marketers make so that we'd learn how to avoid them.
*2*Selling resale rights products to many people. Indeed, you would set a ceiling as to how many copies you will sell. But if this ceiling is too high, the value of your resale rights products would still suffer. Selling to 1,000 people for example, would mean that each purchaser would have to compete with 999 other people for the same market. Your products would still be a hard sell. Solution: increase the price of your package but limit the cap to 50 or below.
*3* Failing to clearly enumerate the terms and conditions of usage license. Essential in resale rights is the license wherein they should be delineated. 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.
*4* Failing to honor the terms and conditions you have set yourself. 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 in your dealings at all times.
*5* Selling resale rights at the height of the product's market life. 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. Nonetheless, this is a matter of preference. If you want to focus on product creation and allow your customers 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.