A PLR product is a product that comes ready-made for you to sell and that will even usually include marketing materials, bonus 'freebies' and more to help you drive more sales and increase your profits.
Essentially, PLR stands for 'Private Label Rights'. This describes a type of 'license' that gives the user the right to not only resell the product, but also to edit however they see fit. In your case, that means that you can buy an ebook, change the title, change the cover and add your own name as the author. From there, you can then sell the product without ever having to mention the original creator, thereby generating more profit, strengthening your brand and improving engagement with your audience.
It's the perfect business model in many ways because you don't need to spend lots of time or money developing your own product and yet you get all of the freedom that would normally come from having something of your own.
But how precisely do you go about making money from a PLR product? What other ways are there for you to profit from digital products that come with the rights to resell?
You might be surprised to learn that there's even more you can do to make money from a digital product that you likely hadn't thought of...
This article will provide you with a ton of advice and ideas that you can use entirely for free to begin increasing your own sales and profits.
Sell Your Product
The primary way to make money from a digital product is simply to sell it. This is what most PLR product creators expect you to do and they have provided all of the means to make it as simple and easy as possible. This is why most PLR packages don't only include the ebook or other digital product for you to sell but also come with extra materials to help drive more sales and the marketing materials you need to convince more people to buy - things like sales pages, adverts, emails and more.
This is what makes the PLR product business model such a fantastically smart one: it is a literal 'copy and paste' business model. And it goes even further than that too - seeing as you'll often also have evidence that the product is already selling. That completely removes any risk because you know that the product you're choosing at least has the potential to be a big earner. Simply take the existing product and all of its marketing and then upload it to your own server. From there, you can begin to profit.
Oh, and seeing as the product is so quick and easy to set up and start selling, there's also nothing to stop you from selling multiple products from your site and thereby scaling your business in a big way! Just buy a few more PLR products and add those to your site as well and that way you can double, triple or quadruple your sales and profits! This would take a huge amount of time to accomplish were you trying to do the same thing with digital products you created from scratch.
Use Your Product as an Incentive
But selling PLR products is only one option. Another option is to use them as incentives to encourage people to sign up to your mailing lists.
Many creators and bloggers believe that email marketing is one of the most important ways to drive traffic to a blog and to sell products. Email gives you a particularly direct way to reach your audience that isn't controlled by a third party (unlike Twitter or Facebook) and because your subscribers need to actively sign up, it tends to also be a very 'targeted' audience, meaning that they're people who will be likely to be interested in your products and want to buy from you. There's also the opportunity to use longer-form marketing here and to gradually build a relationship/build interest in a product - something that is hard to do with social media seeing as you have no assurance that people will see all your posts on Facebook or Twitter.
The problem is getting people to sign up in the first place, which is why it pays to have a digital product that you can use as an incentive. The idea is simple: you offer a completely 'free' product but the only way your visitors can get hold of it is to sign up for your mailing list so that you can send it to them. The free incentive then serves double purpose as it will also allow you to demonstrate the kind of value that you're capable of delivering through the written word and that in turn will encourage readers to want more of what you offer and to make a purchase.
The great thing about PLR packages is that they will often include things like incentives (often free reports) and even the squeeze pages (pages that you place the sign-up forms on) and the emails themselves all as part of the same package. Even if they don't though, you can purchase a relatively small PLR product and then use that as a tool to encourage more people to sign up to your mailing list!
'Bundle' Your Products
As mentioned, one of the best things about selling PLR products is just how quick and easy it is to add extra products to your repertoire and to thereby start selling more and more items.
But there's another reason to consider buying additional products too - and that's that it will allow you to create 'bundles'. A bundle of course is a selection of products that you are going to sell together in order to offer your customers savings. For example, you might have a book on building muscle and a book on losing weight and you might offer to sell both of these individually. But what you can then also do, is to offer to sell them as a pair and call it the 'ultimate body recomposition package'.
This is important because it offers the customer the chance to choose the option that best suits their needs. Perhaps the customer wants to save money and they're only interested in losing weight. In that case, it's a good thing that you have provided the option to just focus on that one area. But if the customer wants to know as much about fitness as possible, then offering to combine the two books into a single package - with savings - is a great way to cater to that kind of audience too.
You can combine as many books as you like to make ultimate and superior packages, or you can break them down as small as you like, even selling off chapters. This way you don't lose out on customers who only want to spend a small amount of cash, or who want as much information as humanly possible…
Add Affiliate Links
Once you've sold the product, that's as much money as you can make from that particular item right? Wrong! In fact, there's nothing to stop you from continuing to earn more and more from a single item by using it as a way to encourage more sales and greater engagement.
One of the simplest ways to do this is by adding your own affiliate links inside the book. This is something that you can do very easily, seeing as most ebooks are going to be providing advice and guidance. What's more, is that the people who buy your books are making a serious commitment to following that advice and to following your recommendations.
So, what does this mean? It means that you can point them in the direction of specific services, tools and products that you recommend and get paid commission for recommending them. Seeing as they have paid for your advice, there's a better-than-average chance that they're going to listen to you and then click the links and make a purchase. Just make sure that the items you're promoting are actually things that you recommend and believe in - or you'll lose their trust.
Not a fan of making money as an affiliate? Then why not use an ebook to plug other products that you're selling? If you're selling two PLR products from your site for instance, then why not promote each one inside the other?
Sell a Physical Product
When we think of PLR products, we mostly tend to think of PLR products such as ebooks, free reports or online courses. Because these don't require any overheads (no materials, no storage, no delivery), they allow for unlimited profit to come from a single purchase and that makes them ideal for this kind of 'copy-paste' business model.
But there are advantages to physical products too. For starters, physical products tend to have a much larger appeal. People like physical products because they can hold them in their hands and thus they feel like they've gotten something tangible for their money. Many markets - such as more elderly readers - will tend to prefer physical books because they don't use computers as much. And what's more, is that anyone can create a digital product. Not anyone can create a physical product and as such, the simple fact that you are selling one will make your business appear more professional and will help you to increase trust and increase authority!
Here's the awesome part: you can turn your digital product into a physical product. And if you have PLR product, then you have the right to do so. All you need to do, is to find a PoD (Print on Demand) publishing service from the likes of LuLu. These let you turn digital PRF or Word documents into physical books and they only charge you when someone actually makes a purchase - at which point the book will be printed on the spot!
This is a great way to upgrade your offering and can also be very exciting!
Re-Use Your Content
Finally, why not turn your ebook into something completely different? The sky is the limit in this regard as you should have an entire book's worth of written content and images and there's nothing to stop you from using that however you like.
Want to turn your ebook into a series of lessons so that you can sell an online course? Then just remove chapters or sections from the book and then send them through an autoresponder on a regular basis. Want to turn your book into a massive online resource and then charge for access? Again, you can simply break it down into more bite-sized lessons and then let users download those elements as they like.
Another cool option is to turn an ebook into a video or into an audio book. To do this, all you need to do is to read it out and record yourself as you do. Then, your audience can listen to the book while they go about their regular business. If you're not someone who is comfortable to go in front of a camera but you still want to make a video, then you just need to record the audio and then have it play over a slideshow.
You can even sell the ebook as an app. If you have the skills, then you can make each page appear when the user swipes the screen and add interactive elements or short videos to make use of the multimedia nature of the platform. Don't know how? Then hire someone to do it for you!
This is the amazing thing about PLR products: they give you complete freedom to use them however you choose.