Turning Digital Products into Cash is an Asset
Turning digital products into cash is a powerful skill that, if acquired, will allow any person to virtually print her own money. In contrast, without this skill, you can have access to an unlimited amount of digital products for free – and it won’t matter at all; you’ll never use it to generate any revenue whatsoever. This is why there are literally thousands of different courses available on the Internet that discuss this specific topic: how to turn digital products into cash.
Now, there are a number of ways in which you can go about doing this, but the best of all is probably developing a knowledgebase. This doesn’t mean to immediately start purchasing every product you find on the subject. Rather, go to one of the massive repositories of information on this subject.
You may want to consider such locations as forums, FAQs, websites, free reports, and free membership sites. You may find that the free information available at different locations throughout the Internet is on par or even better than information you could purchase.
You will want to put everything you read into context. Is it current? Is it support by other E-Books and experts? If not, you may want to think twice before you establish it as a principle in your mind.
You will more than likely want to spend a minimum of 45 days developing this type of knowledgebase before you attempt to turn any digital products into cash. Instead, figure out what the language of the profession is, who the experts are, and how they are doing what you want to do. Only once you have done this should you consider moving on to the “action” phase, which consists of actually trying to sell your digital products.
Whatever you do, remember that having the skill to sell digital products is a major asset. Don’t take it lightly when you’re educating yourself on the subject. If you have a weak knowledgebase, it will show in all of your selling efforts.
Throughout the pages of this guide, I will be showing you some of the Internet’s time- tested ways on how to turn your digital dust into cash!
Remember: There Are More Lousy Marketers than Lousy Products
If you’ve ever spent time reading popular forums, you’ve heard people complaining about how bad a product is or praising it for how excellent the information is – or how functional it is. This is especially true of marketing forums, where people almost always discuss the latest product launch in their field.
It’s not uncommon to see bipolar approaches to discussing new product launches, too. One approach will always focus on the negative parts of the product, lambasting it is a sham or as dysfunctional. The other approach will be a little more realistic and look at what was good and what could be improved upon.
Often, you will see the negative comments coming from those who have had little to no success promoting the product – or who, they themselves, have had no real experience in successfully launching a product.
In contrast, you will likely see the positive comments coming from those who have successfully promoted the product and earned; or those who know marketing well enough that they could successfully promote the product if they decided to do so.
There’s a good reason for this: those who can successful promote products and earn money know that almost any product, no matter how mundane it is, can be promoted with a high degree of success. They also know that a product doesn’t necessarily have to be radically different in order to provide information that the end-user needs most.
One prime example of this is McDonald’s. Their food was really nothing new or different or better than their competitors – and yet they swiftly defeated everyone else in the market to achieve dominance.
The difference was in how the business was positioned and marketed. In the hands of a bad marketer, it would have floundered; in the hands of a skillful marketer, it became one of the largest corporations in the world.
So keep this caveat in mind next time you hear someone attacking the latest digital product release: there are more lousy marketers than there are lousy digital products.
Focusing on Using Digital Products to Build Your Business
You’ve now acquired a number of digital products to use, but you’re not sure of how you can use them to build your business. The best place to start is by identifying what you can and cannot do with these products.
In most cases, digital products will come with a set of rights, which will either be “resell rights” or “private label content rights.” The former, as the name suggests, only allows you to resell the product without modifying it. In fact, in some instances, it will even limit who you can sell it to or how many copies of it you can sell. The latter, on the other hand, allows you to modify the content as you wish and then resell it in your chosen form. You can even put your own name on it.
If you just have resell rights, your single goal should be to maximize your usage. If, for instance, you can sell 500 copies of a given digital product, try to sell all 500 before you start looking for new products to buy.
This advice sounds overly-simplistic, but, in fact, it is actually quite important, since almost no one who purchases “resell rights” products ends up maximizing their use. Instead, they purchase massive packages – and then end up buying another massive package before they finished using the first.
Now, when it comes to private label content, you should take the same approach, but also be a little more creative. For instance, you may want to consider pulling several chapters out of the product if it is a book – and giving them away for free to prospective customers — or you may want to consider setting up a demo version if it is a piece of software.
Regardless of what decision you make, you will want to take the products that you have available and market them to your fullest capacity before you attempt to switch to something else.
Profitable Ideas on Turning Digital Products into Cash
There are a number of different ways in which you can turn digital products into cash. None is necessarily better than the other; however, some will ultimately yield more cash in certain situations.
One such profitable idea I would suggest is creating a collection of e-books. You can do this by purchasing private label rights to several different bundles of books. You can then combine them all in a single package. Since you purchase the private label rights, you can technically do with them whatever you wish. This includes modifying them or including master resell rights with the e-books. This will get others to pick up your e- books and resell them, boosting your credibility as the author (via private label rights).
Now, in addition to this – or in lieu of this – you can take your collection of e-books or articles and combine them into a massive content archive for a monthly membership site. This could be either themed or non-themed; and you could either add them to a massive pool or only put up a certain amount each month. You could also charge a premium for joining and then allow members to download each resource for a certain amount of money.
You could also include your bundled package in massive give-away events. This will give you more chances to spread your name and to get people to opt-in to your email list.
Last, you could break apart your private label rights products and turn them into paid newsletters or free e-courses that you can use to up-sell members on other products. While this isn’t done often, it can yield the best results if done properly.
And these suggestions are just the start. There are dozens of ways in which you can turn your digital products into cash. The lesser-known options may ultimately be the best for you… and I’ll show you just that!