Over the past year, I’ve gotten excited by the idea of licensing intellectual property, which I got turned on to by Travis Sago.
On the surface, licensing IP looks a lot like an affiliate promotion of an info product:
* You license the right to promote somebody else’s info product, such as a course
* You then sell that product to your own list, or to a list you control
* You get paid some or all of the sale price for the products you manage to sell, while the creator of the thing gets paid the rest
But licensing also has several advantages over familiar affiliate sales. For example, if you license the right to promote somebody else’s product, you typically:
1. Can bundle that product (with your own stuff, or with others’ products) and sell the bundle instead of the standalone product
2. Can put the offer inside your own funnel as an upsell, and sell it as a frictionless and congruent one-click addon at a time when people are already “in buy”
3. Can collect money today, as opposed to getting paid weeks or months later (particularly relevant if you’re running ads to your funnel)
… all of which you cannot do if you’re simply driving traffic to somebody else’s sales funnel.
And those are just a few of the benefits of licensing over affiliating.
Of course, licensing also has a shortcoming that affiliating doesn’t have.
Affiliating, at least in the world of online marketing, is a familiar model. Lots and lots of businesses publicly offer affiliate programs, and large and proven marketplaces like Commission Junction and Impact and in the last resort Clickbank exist to bring together affiliates and offers those affiliates can promote.
In contrast, for licensing, you gotta reach out to potential partners yourself… explain and persuade them to work with you… strike custom deals… and do all this one-on-one. Few businesses advertise they will license their info products to you even if they might be open to it, and no marketplaces exist to facilitate the thing.
Until now.
Well, maybe.
The news, at least news to me:
Russell Brunson, the guy behind funnel-building software ClickFunnels, is launching something called OfferLab.
At first blush, I thought OfferLab is just a new affiliate marketplace. But no.
OfferLab is in fact a new licensing marketplace, or something like it.
It allows you to create your own custom funnels where you plug in other people’s offers… or to make available your own info products for others to use in their own funnels. I don’t know exactly how flexible this is, but from what I’ve read it sounds to me it offers the 1-3 benefits of licensing I listed above.
Last night, I signed up for OfferLab myself to look around.
Even though OfferLab is only in launch, or prelaunch, there are already a bunch of offers inside. I imagine that’s because of Russell’s control of ClickFunnels, which will provide a steady fire hose of automatically added licensable offers to OfferLab, in addition to any other offers that people add if OfferLab as a platform actually takes off.
Right now, OfferLab is free to sign up for and, as far as I can tell, to use, both as an offer owner and as an affiliate/licensee.
I have no idea whether this thing will take off, but it is something legitimately new, and it does offer to solve a legitimate problem in the world, and that’s the clunkiness of making licensing deals.
If you’d like to try out OfferLab (again, free, at least right now), and maybe find a new way to promote your own info products… or to find new products you could sell, upsell, and bundle with other stuff:
