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.

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.

PR tips: how to prepare for a media interview

Small business owners and entrepreneurs understand the value of free publicity. Every Marketing Strategy and Marketing Plan should include public relations. Creating a public relations campaign that scores you interviews from the press is vital to Word of Mouth Marketing and bolsters any Social Media Plan.

My PR campaigns are often tied to current and relevant small business and internet marketing news. So when I wrote an article explaining the fallout from the credit crunch on small business owners trying to get funding, reporters came knocking.

If any journalist contacts you, be prepared. Luckily, when a journalist from Fortune Small Business Magazine contacted me, I knew enough to know I needed to prepare some talking points, but what other knowledge would I need to make the most of this opportunity?

I turned to my friend Joan Stewart, The Publicity Hound for help. Here is what she said.

Be aware of the type of media format the journalist is working for. Joan pointed out to me that my talking points for Broadcast media (Radio, TV, Podcast) would have a different edge than my talking points for print media. In a broadcast media situation, I would want to create sound bites that drove home my message. Broadcast media requires you to be clear and concise.

In this case, I am talking to a journalist from print media. Therefore, I am allowed a little bit more leeway to discuss my messages with the journalist.

To prepare, take these steps.

• First, you want to prepare a list of talking points. Create a key message. This message should align with both be reporters story and your angle.
• Next, you want to prepare three sub key messages that are interesting and relate back to your key message. Don’t however make the mistake of thinking that means your sub message is factual support for your key message or a repeat of it somehow. Your sub message needs to add value just as creatively as your key message.
• Create a list of tips for the reporter. Give references such as websites where readers or viewers can do further research.
• Have examples ready.

Before the interview closes, Joan listed questions I should be sure to ask the reporter.

1.      Do you need other sources?

2.      What other information do you need?

3.      Do you need a photo?

4.      Do you need a sidebar?*

5.      May I invite you to call on me in the future about these topics (insert your specialties here)?

In my case, I also wanted to make sure that the reporter would mention my website. So, I offered to make one of my relevant White Papers free to their readers with a password from the article. This drives traffic to my site, builds my list, and adds value for the reporter. This is one of my favorite Public Social Media tactics.

SIDEBAR: Sometimes reporters will have the space to do a “story within/related to a story”. This is called a sidebar. If you have a point that’s related to the story but would take a lot of space to explain, offer to write a sidebar for the reporter. Score some extra points!