Top 7 ways to monetize your book
Your book can provide an additional income stream for you.
When I talk to would-be authors, one of the questions they often ask is, “How do I make money with my book?”
Here, I’m going to share with you the top 7 ways to make money with your book.
This list is based on working with more than 500 authors who have collectively generated hundreds of millions of dollars with their books.
The list below is presented in order of effectiveness, from least to most effective.
7. Amazon—Many of our authors have reported surprising income streams from Amazon. People all over the world are looking for solutions to the problems that your book provides. As the world’s biggest bookseller, Amazon—including its sisters Kindle and Audible—is a high-profile place to sell your books.
6. Email lists—Yes, people still read emails. Your email list is the most focused audience you have. The more engaged your email list, the more people will respond to your book campaigns.
5. Social media—I’m talking about a universe of online platforms, including TikTok, Instagram, LinkedIn, YouTube and others. It’s easy to get overwhelmed, so just focus on one or two platforms, where your ideal audience hangs out. The more followers you have, the more books you can promote. And vice versa: The more you promote your book, the more followers you can gain.
4. Organizations—We have seen authors partner with organizations and associations to sell thousands of books. These groups span industries, profession
3. Online courses—When someone has learned your method and bonded with your stories through your book, they often want to go further. But how? Online courses and workbooks provide the actual how-to for your system. While your book may sell for $25, online courses can range from $200 to $5,000.
2. Events—People love attending in-person events. Your book is an excellent ticket to your live events. These include workshops, retreats and even online events. In addition to a $25 book, you may be selling a $500 workshop, or $2,000 live event.
And big curtain entrance… The #1 way to generate revenue with your book is…
1. Speaking—People love seeing people in person. The same is true of your audiences. When you speak—whether at in-person events, conferences or virtual summits—audiences get a sense of your energy, motivation and vibe. When they see you on stage, they see you as an expert. You can sell books as part of your speaking package and vice versa.
Of course, your list may be different.
If you’re an author, what have you found to be the most effective ways to sell books?
If you’re not an author yet, how have you bought books?
I’d love to hear.
We actually offer a mini-course, Plan Your Book ROI for 6 and 7 Figures.
This is a strategic way to plan your revenue before you even write your book.
But if you’re ready to jump into actual writing or even publishing your book, I’m happy to chat.
To your book revenue!
by Helen Chang, ABM Editorial Director
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