So how do entrepreneurs make money writing books?
That's a great question!
There are a lot of different ways that business owners can make money with books and i'm going to do several break down 7 of my favorites for you real quickly.
Option #1. Email Nurture Campaigns
One of the simplest ways that entrepreneurs can make money from their book is by creating an email nurture campaign. What this means is that you give someone a reason to move from your book over onto your email list.
Once they're on your list, you're free to nurture them into your paid products and services.
So, how do you get them on your list in the first place?
You can do this in a variety of different ways. For example...
- You could give them a free audio book version of your book that they can listen to while they read along. Or they can listen to instead of reading.
- You could give them a course that goes along with your book.
- You could give them a worksheet, checklist, or some form of tool that would help them implement the things that you're teaching about in the book.
You could do all of the above or intermingle them all throughout the book.
You can also put them right at the very beginning so it's one of the first things people see before they even start reading and weave your resources in throughout the book in various places where it makes sense depending on what your offer is.
A really great example of this in action is the book "Published" by Chandler Bolt. He has 37 unique CTAs woven all throughout the book as well as some that are at the very beginning. As soon as you open the book you are given the option to go download the audiobook, grab the pdf, or take his course and go get actual help with it.
Lots of cool things that are happening all through the book to get you out of the book and onto the email list so that you can be nurtured into future purchases.
Option #2. Account-Based Marketing
You can drop a copy of your book in the mail and send it to a target account.
A target account is somebody that you're trying to get in touch with that you're really struggling to get through the door.
For example, you know that Susie at BigWidget Corp would be a great client, but she's impossible to reach. Maybe she's got an assistant or a gatekeeper. Or maybe it's really hard to find her information online. Or maybe you don't want to do the sleazy "connect on LinkedIn and send a sales post thingy or spend weeks and months trying to nurture her with content.
You can take a copy of your book — preferable a signed copy — and drop it in the mail along with a quick little note like... "Hey! I think i could really help you and I would love to give you a copy of my book that shows like stories on how I've helped people exactly like you achieve the result that i think i can help you achieve."
It's pretty straightforward.
If you are really concerned about a gatekeeper i learned a really neat trick from Alex Schlinsky on putting a classified stamp on it so that it's just for like their eyes only and that can help you get it past the gatekeeper and onto their desk
It's a physical package versus a postcard or something that is a little more likely to end up in the trash bin. Plus, signed books are always something that people deem valuable.
That little bit of value that you're providing can generate a lot of reciprocity and make them more willing to jump on the phone with you.
If you have a book, that is a great strategy to get people to talk to you and to get in the door with hard to reach prospects.
Option #3. Swag Boxes for Clients
When you get a new client, you can drop a swag box in the mail that contains your book, along with a host of other goodies for them.
So for example, let's say that Jim just bought your entry-point offer and you hope to be able to upsell him into bigger packages and get referrals from him. Including your book in it is a great way to do that.
For one, having a signed copy of your book gives you a lot of credibility. Even if he already has a copy of your book before working with you, he's more likely to cherish the signed copy and give the other copy away to someone else.
This can generate passive referrals as well as deepen your relationship with Jim.
Additionally, your book can potentially open Jim's eyes up to other services and ways that you're able to help him... resulting in upsells, cross-sells, and other referrals.
It's little bit more of a longer play in most cases with this to send it in a swag box to existing clients or new clients but it can still be very effective. I've even seen some people that will drop two books with the intent of one for you one for someone that you know needs it.
Lots of cool strategies that you can do with that for your clients.
Option #4. Sell Courses
Another way to use your book to generate revenue is by using it to upsell your courses.
For example, if you have a book on entrepreneurship, you could include a section on how writing a book can help entrepreneurs generate sales.
You could then link to your course on how to write a sales-generating business book. This would be a great way to get people interested in your course material, and it would also help you generate more revenue from your book.
Books can also help capture people that didn't buy your course and abandoned cart. You can use paid ads and emails to retarget them to get them to buy your book.
Option #5. Book Club
Another really great strategy to use your book to generate sales is to get it featured in book clubs that are hosted by your target audience. This can be a great way to get your book in front of potential customers who might not otherwise have the chance to see it.
You can also offer free physical, digital, and/or audiobook copies of your book to members of the book club as an incentive to get them to review it and help spread the word about your book.
For example, let's say you wrote a book teaching female entrepreneurs how to dominate their market. You could reach out to book clubs that focus on empowering fempreneurs and offer to send them a free copy of your book in exchange for an honest review.
Option #6. Sell Your Coaching, Mastermind, or Membership
Another way to generate revenue from your book is to upsell your mastermind, membership, or coaching program. This could be in the form of one-on-one coaching or small group coaching.
Either way, you are upselling your ability to provide extra support that goes beyond just the book.
For example, let's say someone buys your book on writing a book. But we all know that just having some instructions is not going to help most people. They're going to need a little bit of extra support. Trying to do it on their own isn't enough, or they may just have questions.
You can get them out of the book and over into some form of paid product, where they can get support, ask questions, and find additional resources. This is a pretty straightforward pathway from the book to the coaching or mastermind group.
You can also do the reverse, and take people that sign up for those communities and send them a signed copy of your book, along with an extra copy that they can give to a friend. This can help increase referrals.
Option #7. Public Speaking
Another way to generate sales from your book is through Public Speaking. By becoming a published author, you open up the possibility of more speaking gigs, as well as the ability to turn attendees into leads. For example, if you're a speaker on a certain topic and somebody is looking for a speaker on that same topic, you're more likely to get the gig because you literally wrote the book on it. Likewise, if you're already speaking at an event and have your book with you, people are more likely to buy it while you're still on stage.
You can also do things like bring along copies of your book that you can sign or sell during the event. If you follow some of the other strategies we've talked about, such as having things in your book that turn readers into leads on your email list, this can be a really easy way to get people from an event onto your email list.
Leveraging your book in this way is a great way to generate sales and create reciprocity with your audience.
So I've given you lots of great ideas on how to use your book to generate more sales for your business.
What about you? What ideas do you have?
Drop a comment below and let me know!
I'll be sure to check it out.