Turn Your Book Into A Money Making Machine

The vast majority of authors aren’t creating content and experiencing levels of success that transform them into overnight phenomenons with multi-million dollar book deals. For this reason it’s a good idea to consider other avenues that you can use to expand the reach and profitability of your book. Making your book available in other formats and through other outlets can make a positive contribution to your bottom line. Here are some additional ways to transform your book into a bag-o-cash.

Electronic formatting is the way to go if you’re an author. Print is great, but don’t forget to create digital versions and audio version of your book too. People want access to instant information and ebooks and podcasts are the perfect way to fulfill that need. With products like the iPad, Kindle and Nook, you have an opportunity to instantaneously reach thousands of readers and receive a generous royalty rate in the process.

Another way to generate revenue is through merchandise. This might not be a mainstream approach, but that in itself is advantageous to an author. By selling book branded t-shirts to your fans you’ll be pulling in some extra greenbacks and you’ll also turn your readers into your own army of walking marketers. Every time someone wears your shirt out in public they’re becoming a human outdoor board that promotes you and your publication.

One of the most simple way to build your income is through speaking and seminars. If you’re a published author you have something that non-published authors don’t have – experience. Sharing your challenges, successes and tips is a fantastic way to give others a leg up on in the book world. People appreciate honesty and how to from credible resources and by showcasing that you’re a blend of both is a win for you as an author.

A bonus to speaking and coaching is that you can show-off and sell your existing product. Bring copies of your books to sell and autograph. People who know who you are and enjoy your previous work will have no problem shelling out for copy of your latest. They also won’t mind paying for your services to gain insight into learning more about tackling the industry from author’s perspective.

White Papers, eBooks and Reports: Freemiums

One of the more popular business models that websites utilize is the freemium model. The freemium concept is very simple. You basically allow your basic website members to use, or access, certain areas of your website for free, but if they upgrade their membership to a paid version they unlock extra features and areas that were previously off limits. Pretty straightforward.

For authors, the freemium model is a fantastic way to give loyal fans and readers incentive to become paid members of your online site. This can be accomplished by sharing a white paper, ebook or even a report. Knowing what the difference is among each of these will help you develop content accordingly and make it available to win over interested individuals.

A white paper is a great tool that can be used to sell your services. Typically, a white paper contains quite a bit of copy and a few graphics that are assembled in a persuasive way. The purpose of the white paper is to sell your point of view and usually argue from a specific position. Think of a white paper as written form of opinion that uses facts to support what it is you’re boasting about.

Sometimes, people confuse white papers with reports, but they’re not the same. A report is more along the lines of an article. It’s purpose isn’t to sell, but to convey, or educate. For many writers, a white paper or report won’t be as frequently used as an ebook. Ebooks are electronic versions of a book and they can be written on just about anything you can think of.

Now that we have a better understanding on what these three items are we can use them with the freemium website model. Consider creating a white paper, report or ebook that can be downloaded for free to entice your audience to learn more about your written body of work and you as an author. These free ‘teasers’ can demonstrate your experience, credibility and even highlight your accomplishments. All of these things are contributing factors to who you are as an author and why someone would want to read more of what you’ve written.

Once you’ve hooked your reader, turn them into paying fans and site members by providing them with access to content and material that basic members can’t receive. It’s an exclusive way to say thank you for their support.

Book Marketing Plan: Create One In 5 Steps

Developing a marketing plan for your book can be frustrating if you don’t know exactly where to start. Fortunately, whether you’re creating a marketing plan for a restaurant, a new skincare cream or a roofing company, the core elements of the plan will never change. As long as you have some of the basics down, you’ll be able to assemble a solid plan that will help you market your book and help you achieve amazing results. Here’s a summary of what you need to consider before putting pen to paper.

1.  Research Your Consumers

You need to know what people are buying, where they’re buying and how they’re buying. Selling what people want is what will get them to purchase. Hit the web and look at historical trends for books in your niche. Look for commonalities among them like simple plot line, memorable characters or outstanding publicity blitzes. Use what you learn and apply it to your own plan.

2.  Make It Easy to Distribute

Even though you’re an author who’s created something tangible that you can touch, hold and keep, most of the world is electronic based. This means you’ll need to come to your audience and make your book searchable, portable and shareable. Do this well and your book has the potential of becoming a viral phenomenon.

3.  Create a Sense of Urgency

As your gathering and researching for your marketing plan, consider creative ways to make your book a stand out from others. There’s quite a bit of competition so start getting clever about how you’ll sell your product. Think about promoting a limited quantity available or only allowing people to purchase if they buy two at the same time. There are many unique ways to get consumers excited and compel them to act.

4.  Set A Budget

Once you get your creative juices flowing you may find yourself with an arsenal of great marketing  ideas and strategies for your plan. Unfortunately, they’ll all probably come with a price tag. Decide what you can afford to do and what you can’t and get realistic about costs. Your book needs a website, but anyone who’s offering to build you one for less than $500 highly questionable. This is an instance where you get what you pay for.

5.  Don’t Be Afraid To Ask

Whether this is your first book or your fifth, it doesn’t hurt to connect with a successful peer and ask them for advice and insight. People love to teach and share with others. Send an email or pick up the phone and ask others what made their marketing plans a success. Use what you learn to focus your own book marketing plan.

Authors, Books, Business & Multiple Streams of Income

As an author, selling your book should be first and foremost on your list of to dos. Selling copies leads to revenue and that’s what pays the bills. Beyond selling your book, did you know that there are other profit avenues that you can explore and expand on? Well, there are and to make things easy, we’re highlighting a few of them below.

Ebooks

These days, quick access is the name of the game. With the advent  of the internet, people have become more impatient and used to clicking a button to download what they want. Fortunately, you have the ability as an author to tap into the world of instant gratification for consumers by creating an ebook. Convert your printed version into a PDF document and charge for live downloads and online purchases.

Audio

We’re a race of people on the go. From working out at the gym to extended commute times to the office, there seem to be fewer hours available to curl up and enjoy a good book. Not anymore. Authors can adapt to the fast-paced lifestyle of people by developing an audio version of their books. It can easily be downloaded and burned to a CD or MP3 player for portability and listened to while on the move.

Ecommerce

Brick and mortar retail locations are great and they’re certainly not going extinct anytime soon. However, make it more convenient for readers to purchase your book by incorporating ecommerce into your website. Customers can avoid long lines and inventory fluctuations when they buy directly from your site.

Affiliate Programs

The largest affiliate program comes from Amazon Associates and if you’re an author it’s a must that you join. Through the program, website owners feature Amazon.com ads on their sites for books and products. When site visitors click on your ad, you receive a commission for the sale of your book. There are many affiliate programs available, as well as resources that compare and contrast their features and benefits. Do your homework and find one that suits your needs and you’ll be on your way to sales and profits in no time.

There are many other ways to generate additional points of income from your book. Explore the web for inspiration and test the waters for yourself.