How do you make money with books? That’s easy, just sell the book! But, how do you make money from that some book after the sale? That’s where things get complicated. Every good writer and marketer knows that the best way to make money is through various purchases from a single seed product. If someone likes your book, then it’s likely they’ll enjoy similar works. Here are a few ways to make money even after selling the book.
Recommending Other Offers
The best way to make even more sales from your book is to have people who purchased or reviewed your book signup to a subscriber list.
Just add a graphic that links to an opt-in form where they can subscribe to your list. You will need an autoresponder service like aweber. Tell them that they are opting in for a free gift and to follow your personal news (like blog posts, newsletters and personal updates). Once you have subscribers, you can recommend additional products and services.. For example, let’s say that you wrote a book about digital marketing. You can easily link to products that will be beneficial to these readers, such as business-in-a-box programs or SEO software.
Affiliate products are great, but there are a few problems with them. Namely that they’re not your products. You’ll make money from the sale, but you might be sending a potentially loyal customer to someone else, who may buy many of their future products instead of yours. It’s a good short-term strategy, but here’s something even better.
Make your own sales from your other products. Advertise your similar products so that people are aware of them and buy your other books. For example, you can make a tiered learning program, such as “SEO for Beginners” “Intermediate SEO” and then “Advanced SEO.” You can also create supplemental books. For example, if you make a book about dog care, then you can advertise a book about healthy pet eating or dog walking tips for larger dogs. When making the opt-in form, tell them that they can find out about other books to advance their knowledge in your niche.
The point is that you’re keeping people in your personal network of products. Doing this ensures that you’ll make more money from your other products while building your personal brand. Speaking of building your brand, it’s always best to start an opt-in list through your book and blog so that you can always communicate with your followers.
White Label Products
If you’re having a hard time making your own products, or if you just want products right now, then you can easily turn to white labeling products. You can purchase the rights to rebrand ebooks, courses, and other types of products and make them unique. You definately need to make sure that whatever you have is high-quality and a good fit for your subscribers.
These act as templates so that you can make quality content faster. Or, you can just use them to make your own products and sell them on the back-end.
Your book shouldn’t be a one-time sale. It should be a taste of what you offer as an author and resource. You should advertise your ebooks or other products so that people who are interested in reading more know where to go. It’s a great way to make money and build your personal brand at the same time so that you can achieve long-term, passive income with ease. Making an opt-in form easily achieves all of these goals, and it lets you build a list for long-term income.
In this video I share some tips and strategies for making a passive income by selling repurposed content on the Kindle and Createspace platforms.
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In general, writing a book is very inexpensive. You don’t even need your own computer. You can just head to the nearest library and write your masterpiece in your spare time. You can usually write a book for close to nothing. So, why would you want sponsorship? It can help with marketing and distributing, but the major benefit is that you can dedicate your time to writing. The cost of writing isn’t direct. Instead of laying out dollars, you’re laying out hours, and most of us need to work. Sponsorship gives you the time to write without stress, and it also has some hidden benefits.
The Easy Approach
Please note: gaining sponsorship isn’t easy, so this might be better named the “easier approach.” You don’t need much of a presence or reputation to make money with this approach, though being connected to your niche can be very useful. This type of sponsorship relies solely on crowd-funding websites like KickStarter and PubSlush.
. Crowd-funding means that you put a project up, ask for money for specific reasons (such as distribution or time) and offer benefits to sponsors (like t-shirts, limited run merchandise or the first copies). While people can leave hundreds or thousands of dollars, most sponsors will leave around $1-$10. The power of this approach is that hundreds of people can sponsor your project.
Gaining funding can be hard, so you need to make a great presentation to get people excited. While literary books can be successful on KickStarter, graphic novels and similar books tend to work better. PubSlush is better for text-based books. The website will take some of the money if your project is funded, but you’ll get the lion’s share. Just be sure to make good on your promise and deliver the benefits after your project is complete.
The Hard Approach
This approach is harder because you’re asking for funding from a single, large entity, such as a business or organization. For example, let’s say that you write a book on the analytical aspects of growth hacking. You can ask for sponsorship from businesses that typically rely on this approach. In general, you’ll be looking for businesses that can use your book to further their own agenda.
Why is this harder? There are two reasons. The first is that businesses don’t like giving out money without seeing some ROI (or, return on investment). If you can’t guarantee without a shadow of a doubt that your book will be beneficial to them, then you probably won’t get sponsorship. The other reason is that businesses often ask for more from writers. The above approach forces you to give incentives to sponsors, but they are typically small and easy to fulfill.
A business might ask for your time in marketing or implementing the book, or they might ask for a large share of the proceeds once the book is complete. Or, they might even request full rights to the book once you’re finished. Not only that, but you either have to be very well known in your subject or have an amazing idea for this to work because businesses don’t want to use their money unless they can be sure that you’ll deliver the quality that they need.
At the same time, this can be better because you’ll have brand power behind your book (which will help you reach a massive number of people) and much more resources in terms of money and personnel. You might be able to request help with research or idea development to make your book as good as possible.
Sponsorship is like a book advance. You get some extra money so that you have more time to dedicate to your writing, and this can help with distribution and any other associated costs. However, sponsorship can be difficult to obtain. If you already have a presence, then approach a business to see if they would like to sponsor your book, but crowd-funding can also be a powerful resource if your product speaks to your niche. While difficult, this can be a great way to give you that much needed money that you require to finish your project.