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PLR Stands for Private label rights which is a concept used in Internet Marketing and derived from private labeling.
It’s a license where the author sells most or all of the intellectual property rights to their work. The basic premise is that the license permits the buyers to re-brand the content under their own name or brand. This is useful when you’re first getting started online and you don’t have the time or know how to create your own product.
There are a few basic things you should take into account when you choose to buy a PLR licenced product for resale
There may well be a few people who buy the same licence as you so it makes sense to try and make it a bit different. It’s best to use the content you’ve been given as a template or an outline. Then do some research so you can add some more value to the product and rewrite some, if not all, of the content, obviously injecting your own personality and writing style into the piece.
Quite often the PLR product will come with a basic sales template and graphics. I highly recommend you change all of the graphics, as new graphics will not have been seen by anyone else and this will help toward making your own product a unique offering. And could ultimately make a big difference in the amount of sales you make.
So How Do You Profit From PLR?
Sell Your New Product
You now have your own product to sell. So it makes sense to get it in front of as many potential buying eyes as possible. There are several market places you can promote your new product, Clickbank, JVZoo, PayDotCom to name but a few.
If you go the extra step and have some affiliate resources made you can make it easier for other affiliates to sell your product for you. They then sell your product to their own customers and subscribers. Of course they will get paid an affiliate commission for selling the work you have done, but think of all the extra sales you’ll get that you may not have gotten.
Use it as a Bonus
You can also use your own product as a ‘bonus’ item when you are promoting a new product launch. Or you could use it as an incentive to get people to optin to you email list. This is one of the most common and effective tactics in email marketing and list building. People like to get things for free and they’re even more pleased when the freebie is helpful and of good quality.
Upselling and Cross Selling
Once you have created a couple of products in the same niche you will be able to cross promote each product to your existing customers and indeed offer them discounts for being a loyal customers.
This is especially helpful as you make more and more products, because you will be able to engage with your customers to find out what they want, which will help you tailor a product to their needs which will make you more sales in the long run.
The great thing about PLR licenses is it helps cut down on the time it takes to bring a product to market. It can also be more cost effective too.
Sell your own PLR Licence
Another way to make money with PLR is to create unique products yourself and then sell PLR licenses to other people. Many people have made good solid incomes from this business model. I wish you every success in your business.
This is a guest post from Steve King [www.steveking.biz]. Steve blogs about making money online and tries to keep internet marketing strategies simple for those who are just starting out.