In the distant past, people turned to books to seek wisdom and guidance. These days, with the information explosion and the access to information online, people are looking for different ways to make money. Writing an online book seems like a lucrative venture, but how does one go about doing this? How does one monetize an online book? It is a fairly new concept, but gaining popularity by the day. Some are doing this simply to supplement their income, while others are looking to make a full-time income from this endeavour. What are the steps to take if one decides to write an online book?
Build A Following
The first step in any business plan is to gain recognition. Building a following is the key to gaining credibility and attracting potential customers. This is where you will find the greatest value in creating an online book; you can use various platforms to build a following and grow your audience, some of which you may learn about in this article and others you may not have heard of. Pinterest is a well-known social media network that allows businesses to build an audience and engage with their followers. You can use Pinterest to build an audience, and once you have one you can use their tools to drive traffic to your blog or website.
Decide On Your Niche
Creating an online book is a rather new concept, and as such there are many opportunities to make money from different niches. Once you have established yourself as an expert in your chosen field, you can begin to hone in on the specifics of your niche. Consider the subject matter of your book and the type of content you will include. The subject matter of your book will determine the target audience and the type of content you will include. For example, if your book is on SEO, you will have to consider whether you are targeting SEO experts or webmasters at large. Once you have determined the target audience you will need to set the price for your book.
Set A Price And Give Some Back
You have decided on your niche and the price you will charge for your book. The next step is to set a price and give some back. Many authors will give away some of their royalties for promotional purposes. However, you should not expect to make a living solely from your writings. Consider the costs of production and make a conservative estimate of how much you will need to make to achieve your goal. The price you set will determine your earning potential; if your goal is to make a full-time income, you will need to price your book accordingly.
Create A Killer Sales Page
The best way to attract potential customers is through a clean and easy to navigate sales page. You can use various platforms to create an optin form, but considering the subject matter of your book, you should consider using a platform specifically designed for creating sales pages. This will assist you in capturing the reader’s interest and encourage them to optin to learn more about your book.
Monetizing Online Books
Once you have established your blog or website with a substantial readership, you have the option of monetizing it. The simplest and most popular method is to use affiliate marketing. In affiliate marketing, you will earn a commission when a customer makes a purchase after being redirected to the merchant’s website by your blog or website. Some of the more popular affiliate marketing platforms are Bluehost, WordPress.com, and Shopify.
The Downsides
Despite its lucrative nature, creating an online book comes with its downsides. The first is the amount of time it takes to build a substantial audience. It is a fairly new concept, and as such there are not many examples of people who have done this successfully. However, those who have tried it claim it can take years. The second downside is the fact that you need to attract the attention of potential customers. Being a new concept, people may not entirely understand what you are offering, and if they do, they may not value it highly enough to purchase it. The last downside is that you need to ensure you are setting a high enough price. As previously mentioned, the price you set will determine your earning potential. If you want to make a full-time income, you will need to price your book at the top of your chosen price range.
Despite its downsides, creating an online book is a relatively easy and lucrative venture. If you are looking to make a full-time income from this, you should consider writing an SEO book, or similar subject matter. There are also many opportunities to make a modest income as an affiliate marketer, promoting various businesses.
Wherever you choose to make your living, you will need to establish yourself as an expert in your chosen field. With the right product and targeted marketing, you have the opportunity to make a significant amount of money online.