4.3 The Cons
At this point, you should understand the pros to using a bundle of digital products, rather than creating your own – or rather than selling them in different forms, including a membership site model or a basic site model. But what are the cons to using this particular method?
The first major con is that you have to write a sales letter for the bundle. This will include details for 5 up to 20 products. If your goal was to quickly purchase and flip resell rights products, this is probably not the best route, as writing the sales letter could end up consuming hours of your time.
Another major problem you will encounter is that resell rights bundling or packaging is very competitive. Almost all list owners, from time to time, will purchase a number of resell rights products, bundle them, and then sell them to their lists. And in most cases, they will also sell them for unbelievably low prices. This means that many of your competitors will also be selling the very same items – but they may be able to do it at more affordable prices, since they have a larger list to market to.
Additionally, whenever a new product is launched in your niche, all of the webmasters who pick up the product as an affiliate will be likely to purchase all resell rights products and compile them as a giant bonus in order to compete with other webmasters who are selling the very same product – and who are also giving away all of the resell rights products they have access to as bonuses. |
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What does this all add up to? It's simple: the price of all of these resell rights products – especially if they aren't limited license or especially if they come with master rights – will be all over the market. In some cases, people may even be giving them away for free, which reduces the price even further. If you want to create a high-quality bundle, you will have to avoid these particular products.
4.4 Turning Digital Products into Cash – Step-by-Step
You may know how to turn digital products into cash through various avenues, but how can you turn them into cash by bundling them? You can do it by following a simple three-step process, the end result of which is revenue generation.
In the first step, you will want to select five to twenty products. You may already have resell rights to these products. If not, you will want to hunt them down and purchase them. Preferably, you will want to find the master resell rights. This will improve the different ways through which you can generate revenue.
Additionally, you will want to make sure all of the products fit a specific theme. You will also want to find products that are in-demand and that appeal to your prospects by being relevant and current.
The next step is to create a sales letter that effectively markets all of the features of the five to twenty products you selected for your bundle. You may want to consider signing up for Michael Fortin's forum to get copywriting tips. If not, you will want to contact a copywriter to create the sales letter for you.
Now, the strength of this package isn't in reselling the products themselves to generate revenue. Instead, the strength is the bonus, which allows your customers to resell the products and to reuse your sales letter for their very own bundle.
Allowing your customers to resell your package will create new competition; however, it will also help you close more sales. Rather than competing with webmasters when they create bonus packages for events or as part of a sales page, you can be the person who sells a basic package of digital products to all of those webmasters as the baseline of what they must have. This will allow you to close even more sales than before.
The last step is to setup your site, along with a sales page and an automatic checkout and thank you page. Once you have done this, you will want to start marketing the bundle of products either to you list or to a new crowd via affiliates.
Next: The art of reselling digital products (part 3) |