We have discussed affiliate products in detail and we have discussed digital products; both have considerable advantages for marketers looking to make money online.
To recap, selling an information product gives you complete control over a product with excellent ROI and very low overheads. This is a flexible item that you can sell in a number of ways and it’s something that will be relatively simple to promote and sell.
On the other hand, selling an affiliate product means selling a product someone else made and getting most of the profit. There’s no up-front investment and therefore no risk. At the same time, it’s also going to be much easier to choose something that you know will sell. But you lose out in terms of control, branding and flexibility.
But what if there was an option that had all the advantages of both these options and none of the advantages of either?
Introducing: PLR Products
PLR stands for Private Label Rights. A PLR product then is a product that gives you the full rights to that item in a private label fashion.
This means that you can sell the product on to other buyers, you can make as many changes as you like and you can even add your own branding to the product. At the same time though, you’ll also be able to sell something ready made and with a proven track record of selling!
You pay a simple one off fee in order to buy not only the product but also the rights. From there, the product becomes yours and you can do whatever you want with it. Better yet, is that often comes with all the marketing material included so you’ll be able to promote it without spending any time or money on creating sales funnels or landing pages.
Top 10 PLR Profit Models
1. List Building Profits: Following the Self Liquidation Offer blueprint, you drive traffic to an optin page including your PLR lead magnet, and after a prospect opts-in, he is offered an option to make a purchase (could be PLR too).
2. Fast Cash Profit Model: This works if you already have a list or a social media audience. All you have to do is flip a good quality PLR product ‘as is’ and recommend it to your audience. You just say “I went through this special report about ______, and it was so good that I got the white label license so I could share it with you”…
3. Firesale Profit Model: 2 to 4 times per year come with a Limited Time Firesale where you stack a number of valuable products (rebranded PLR) for an irresistible price. Works well for tools, graphics, apps and templates as opposed to Info products.
4. Product Launch Profits: Use the JVZoo/WarriorPlus platforms. Start with a good PLR and turn it into a video course for the Front End offer. Alternatively offer a white label software as the front end offer. The secret is to source that white label software OUTSIDE of the IM space. There are a ton of software companies that offer a white label option for their products. Offer as upsells templates that enhance the front end offer, a developer license if your main offer is software and live training workshops.
5. Funnel Profits: Start with a checklist or Cheatsheet (non PLR) to sell as the Front End offer and then build all your upsell options with PLR (Courses, Software, Templates, etc). This method will help you get affiliates on board.
6. Membership Profits: PLR is perfect for membership sites. Each month you can add a new set of Video Training, a new set of Graphics Templates, WordPress Plugins, etc. If the products useful and are relevant, your customers will stick for a longer time.
7. Authority Profit Funnel: When you plan to enter a new niche and want to build an authority presence in a short time, PLR becomes your best ally… Quickly build your blog, FB Group, create free reports, post articles on Medium by leveraging quality PLR content.
8. Premium Training Program: This is much simpler than you may think! Start with a good PLR and turn it into a video course or webinar sessions workshops. Add worksheets, checklists, access to an exclusive Facebook Group (just for your product customers), and access to one or more Q&A live sessions with you.
9. Offline Training Profits: Use PLR to create live training programs and workshops for 10 to 16 participants and charge at least $600 for a full day. Get on board local influencers or professional associations (that have a big list of members) to get the traffic and endorse your offer and share the profits with them.
10. Bonus Profits: Please don’t just get a ton of trash PLR from one of those monthly PLR sites and add 30 bonuses!!! This is NOT the way to do it. First of all, the bonus should be relevant to what you are selling or promoting, second it should complete the product, and finally, total rebranding is required.
The Downsides
So are there any downsides?
Only a couple. One is that the product won’t be unique if you sell it as is. This means there’s a chance that a customer might find your content replicated elsewhere which can undermine your brand. Therefore rebranding is recommended.
Another downside is that you’ll often pay more for a PLR product than it would have cost to create your own item from scratch. This makes sense as you’re essentially paying for the privilege of not having to make anything yourself.
Finally, it’s worth noting that the quality fo these products is highly variable. So make sure that you do your research!
