Are Reprint Rights A Good Idea For Your Online Business?
|
||
Working At Home Business | Internet Business In 4 Simple Steps | eBooks | Free Articles |
|
Working At Home
FreeToSell
eBooks
|
|
I bought a low cost reprint rights license to get started online for the first couple of years. They gave me a good foundation to start with. The product was already done and I received sales materials to go with it (I couldn't write an ad worth a flip in the beginning).
You may find the same method will work for you? There is one caution to keep in mind. Don't buy something just because someone says it is the best opportunity ever.
Avoid this type of hype when buying reprint rights. As a beginner, try to find a product you would want to buy yourself. Purchase the retail version first, try it out, then purchase the rights if you are still interested.
Owning a product that you bought rights to can give you a good start. You don't have to worry about writing ads at first or producing a product. You can jump in, get your feet wet, and start learning about online marketing. This first product probably won't make you rich, but it will give you experience for all of your later projects!
2. Buy Reprint Rights For Back End Products
You have your first product out. It is making money, but what about the backend? All direct marketers know the real profits of business do not come from your first sale to a customer. They come from continually selling over and over to the same customers.
You can expand your product line by purchasing reprint rights to high quality products. This will help you generate additional cash flow from your prospects and customers.
In many cases, this is the better direction to take than selling a product you bought rights to up front. One of the reasons that an author sells rights to his product is to generate leads for other products they sell. Very rarely, if ever, are you allowed to remove the contact info of a product you bought rights to. So, selling their product does generate other backend sales for them.
For this reason, most experienced marketers will purchase and use reprint rights for backend products.
DON'T BUY REPRINT RIGHTS IF:
1. You Don't Have a Market
Don't buy a $1,000 reprint rights package if you don't already have a plan in mind to sell it. Just because it is the most awesome book on the planet doesn't mean it will sell.
The best situation is when you already have a market lined up to buy from you, such as your own newsletter list or daily traffic at your site.
You should examine the product by buying a retail version. Then, figure a way to sell it. Then, buy the reprint rights. Finally, go for master rights once the reprint rights have started earning you a profit.
2. It is Outdated
A lot of people don't offer reprint rights on a product until it is already outdated. Instead of updating it, they sell off reprint rights to unsuspecting buyers.
I made this mistake myself in one case and bought rights to a tape set which was badly outdated. It cost me $2,000, but it wasn't worth even a couple of hundred.
I was speaking to another experienced Internet marketer recently and he told me that he bought an $8,000 master rights package to a set of CDs when he first got started online. Little did he know at the time, the whole set was years old and most of the information on them were wrong now. It was a quick way to lose thousands of dollars!
3. The market is saturated.
This danger will only usually occur for one of two reasons...either rights are selling way too cheap and everyone is buying them OR someone buys rights to an electronic book and prices it at almost nothing.
This again comes back to the point that sometimes a bargain (especially dealing with reprint rights) isn't a bargain at all. The cheaper the rights are, the more likely the product will be offered everywhere and at too low a price for anyone to compete.
How to Find Resale, Reprint, and Master Licenses...
I have made references and have seen others make references that the easiest way to find reprint rights to products would be to do a search for "reprint rights" on the search engines. Well, guess what, I have never bought a reprint rights package this way.
Most of the sites that come up when searching for reprint rights aren't selling the types of products you should be buying rights to. If you could find them simply by using the search engines, then everyone else could do the same.
You need to put a little more effort into it.
The mistakes I have made in buying reprint rights came from using the search engines to find them...every time. I was too desperate looking for rights and a hyped sales letter did the trick to finish me off.
Over half of my good reprint rights products were purchased because I was a customer already of the person I was buying from. I knew they had good products which I could sell.
Several of my products were purchased by directly soliciting the owner of them. They wouldn't have any posting on their site about rights, but I would send them an email and offer them cash of $1,200 or so (whatever I thought I was willing to pay). They would usually think about it and email me back a counter offer.
Some would outright reject the offer. So, what. It didn't hurt me any. For those who countered, I either paid the counter price or went into more haggling on price.
I have also heard of other methods. For example, I have heard Ted Nicholas say that he has called up publishers of older books and asked for license rights to them. Sometimes if it is a book they are done with, they would sell rights for as low as $300. It all depends on what they want.
If you make an offer, all you can receive is a yes or no answer. So, go ahead and make an offer to people. If your offer is high enough, the greed factor might step in and bring you the rights even if they never thought about it before.
Also mention to them that you will leave all information on the product exactly as it is, so they will receive more leads for other products they sell. Their name will be published all over the Internet by you. So, they may receive additional advantages of selling to you besides the up-front cash.
---------------------------------
Terry Dean, a 5 year veteran of Internet marketing, will Take You By
The Hand and Show You Exact Results of All the Internet Marketing Techniques
he tests and Uses Every Single Month" Click here to Find Out More:
http://www.netbreakthroughs.com
More Internet business articles
Working At Home Business |
Internet Business In 4 Simple Steps |
eBooks |
Free Articles |