The whole point of writing a book is so it can generate income for your business. There is no point in doing it if it no more than a vanity project. The truth is that you won’t get very far if all you do is put it on Amazon or Smashwords and forget about it.
To achieve anything with your book, you need to make sure you plan appropriately from the outset so that you choose the right topic and publish your book in the right format and at the right price. You also need a marketing plan because your book is only one element in a larger marketing strategy.
There are three main easy ways a book can generate income for your business:
The main way a book can generate income for your business is through the sales of the book itself. To achieve a good income from a book on its own, you will need to make sure you write a well-positioned title that excites your market. You will also need to be prepared to do a lot of marketing, potentially over a long period of time.
There are lots of ways to maximise sales. For example, if you write a series of books and link them, you can encourage readers to buy more than one of your books. Also, if you put all your books on your author page, and spend your time promoting your author page, you will maximise your sales.
If you create one low-priced product to sell on the back of each book, even if the book is low-priced, you will potentially have a financially prolific passive income generation system that could bring you great revenue for years to come.
As well as generating revenue from sales of the book itself, you can use your book to attract your readers into your product funnel. The way to do this is to create your product first, then write a book as a kind of taster for the product. You will need to make sure your book offers value in itself and that it is not just a glorified sales letter otherwise both the book and your business may lose the trust of your reader.
An effective way to lead readers into buying your products is to use your book to describe your system in enough detail that your reader can implement your system without any further help. Thus you meet the requirements of your book to be a valuable product for your readers before you go on to sell to them.
As they learn about your system, your readers will start to realise the value in working with you personally. If that is not possible, they may still be interested in using a comprehensive programme you have developed.
Ideally, you need to sell your product or coaching directly from the book by including a short sales blurb and a link to a longer sales page on your website. You also need to capture your reader’s contact details so you can continue to email them about your produce offer. The easiest way to do this is to offer a free tool or white paper that readers can only get if they complete an online form. You can then communicate with your new subscribers via email.
Fees & prices
Having a book raises your status, proves your knowledge and showcases your system – all this means your value is elevated and therefore you can elevate your prices and fees too. Apart from the obvious benefits of instantly raising revenue, it also means you will need to work with fewer clients to make the same amount of money.
It isn’t just a case of making your fees and prices a bit higher, either. It’s about being able to create a true VIP product and beginning to play in a whole new ball park. This is transformational in terms of your business – and your life.
All this will raise your status again making it easier to secure joint venture partnerships and speaking engagements. The prospects are endless.
Although a book is often a low-priced, low-revenue generating product, its impact can be enormous. If you set it up as part of a much bigger strategy, you can rapidly grow your business, even if the book itself is low-priced.
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