Creative Ways You Can Monetize Your Author Status

Creative Ways You Can Monetize Your Author Status“Most authors obsess over one statistic: the number of books sold,” Joan Stewart starts her recent article in The Future of Ink: “33 Revenue Streams For Authors – Even If You Write Non-Fiction.” You might be saying to yourself: “Well … duh, of course. That’s what authors should be obsessing about!” Certainly, that’s an important part of being an author. As writers, we want people to be reading our books. We want to sell books. However, in her article, Stewart points out that you should see your books as potential starting points for other opportunities: “For the really smart, savvy authors, only one number really counts: how many revenue streams they can create from a book.”

There seems to be something for every kind of author in her piece. She breaks her 33 ideas for thinking about multiple revenue streams into a number of categories that speak to different genres, including:

  • For Beginning Authors
  • Teaching & Training
  • For Author Experts Only
  • Branded Retail Products
  • Consulting
  • Publishing Services

Some of our favorite suggestions include:

7) Pocket Guidebooks.

A Foodie’s Guide to New Orleans would be a perfect spinoff product for an author who writes a murder mystery about New Orleans.

24) Board Games

The Settlers of Catan board games, which have sold more than 18 million copies worldwide, are being turned into a book, proof that the book doesn’t always come first.

28) “Rent My Brain”

People who don’t need long-term access to you can rent your brain for an hour. At the end of their session, try to upsell them to a longer-term coaching or membership program.

You can the rest of the article for all of her 33 ideas.

The great thing about many of her suggestions is that they can help you create buzz for your book even before it’s completed. And, it’s likely that these types of spin-off products or booklets will help you sell more books in the long run. If you think about it, the sky is the limit. For example:

  • If you’re a children’s book author, you can create greeting cards or postcards that feature your characters and include important phrases from your book.
  • If you’ve authored a book of recipes, you can produce some short online video programs that feature your recipes.
  • If you’ve written a mystery novel, you could partner with a local establishment to host mystery dinners or tours.

We’d love to hear other ideas for creative ways that authors can promote their books. Drop us a line on Facebook or via our website.

SDP Publishing Solutions, LLC (formerly Sweet Dreams Publishing of Massachusetts) is a leader of self publishing in Massachusetts. We offer optimal self-publishing solutions for authors worldwide. From literary agency representation to worldwide marketing – including international rights – and independent publishing, we provide the best solutions for authors. Our services include developmental editing and copy editing, custom cover design and layout, book marketing, query letter and book proposals, literary agency representation, print, and e-book development. We provide the best exposure for your book!

 

google.com/+Sdppublishingsolutions

2014 Smashwords Survey Released: New Opportunities for Indie Authors

Courtesy: Smashwords
Courtesy: Smashwords

The 2014 Smashwords Survey reveals new opportunities for indie ebook authors to sell more books. In this survey, they examined aggregated retail and library sales data of Smashwords books and then crunched the numbers based on various quantifiable characteristics of the book.

For this year’s survey, they examined over $25 million in customer purchases aggregated across retailers, including Apple iBooks, Barnes & Noble, the Smashwords.com store, Sony (now closed), Diesel (closed), Oyster, Scribd, Kobo, public libraries, and others.

Some key points from the 2014 Smashwords Survey:

  • The e-book sales power curve is extremely steep
    • A few titles sell fabulously well and most sell poorly
  • Readers seem to prefer longer e-books
  • Pricing — The highest earning indie authors are utilizing lower average prices than the authors who earn less
    • Sweet spots seem to be around $2.99-$3.99
    • $3.99 is a pretty good spot for fiction
  • Free still works for now, but this may change in the coming years
    • It’s still a powerful book marketing tool because it makes it easier for readers to take a risk on an author brand that is unknown or untrusted
  • Preorders yield sales advantage, it helps build anticipation for your book
  • Series yield sales advantage
    • Series books outsell standalone books!
  • Best-performing series have longer books
  • Free series starters pack a punch
    • There’s strong evidence that series with free series starters earn more money for authors than series that do not have free series starters
  • Non-fiction earns more at higher prices
    • Non-fiction buyers are less price-sensitive than fiction buyers

Here is a copy of the presentation about the survey: http://www.slideshare.net/Smashwords/2014-smashwords-survey-how-to-sell-more-ebooks.

You can read the 2013 Smashwords Survey here and 2012 Smashwords Survey here.

SDP Publishing Solutions, LLC (formerly Sweet Dreams Publishing of Massachusetts) is a leader of self publishing in Massachusetts. We offer optimal self-publishing solutions for authors worldwide. From literary agency representation to worldwide marketing – including international rights – and independent publishing, we provide the best solutions for authors. Our services include developmental editing and copy editing, custom cover design and layout, book marketing, query letter and book proposals, literary agency representation, print, and e-book development. We provide the best exposure for your book!

google.com/+Sdppublishingsolutions