Whether to stop the Moorcroft group from breathing down your neck, generate a secondary income stream, or become a formidable force to be reckoned with in your industry niche, monetizing your eBook can be the first step in the right direction for you. And that’s not just because it gives you the chance to multiply your bank balance but mainly because of the possibility of creating a long term revenue source. Thanks to the innovation of the digital space today, selling EBooks online just got easier. Gone are the good old days where people were only limited to buying books in stores, renting from libraries, or borrowing from friends. In this age, however, anyone anywhere can publish their work, upload it to their website or any other accessible platform, and make it available for download worldwide. Not only does this new innovative idea make materials available to the global community, but it also gives the writers and authors an opportunity to sell more, much more than they would have done otherwise.
Selling EBooks online
Since you are here on this page seeking ways to monetize your EBook, I want to assume that you already know what an EBook is, and you understand the rudiments involved in creating a fascinating, catchy, and compelling one. Because, regardless of the number of tips I share with you in this post, on how to monetize your works, if your publications aren’t up there with the best, or at the very least, appealing to your target audience, there is little guarantee that you’ll sell at all, let alone create the passive income stream you so desire.
When it comes to publishing and selling EBooks online, writers are quite spoilt for choice in terms of the platforms available to them. In that light, here is a quick lowdown on some of the most popular.
Self-publish your work on Amazon Kindle
Oh, you didn’t know, Amazon isn’t just a retail store where people satisfy their grocery and fashion cravings only, there is room for educational and informative pieces too. If you’re looking to monetize that exceptional work you’ve taken years to compile, self-publishing on Amazon Kindle should be the first thing on your mind, and for obvious reasons. Kindle Direct Publishing is more like the holy grail of EBook publishing: and not only because it is world-renowned, but a tremendous two-thirds of the EBook-purchasing market is held by Amazon. On the bright side, Amazon makes the Kindle app available for download on computers, tablets, and smart mobiles, which means that almost everyone can gain access to your Kindle EBook, even if they don’t have a Kindle. Furthermore, Kindle also provides you with some promo offers opportunity, which allows you to give your book away for free (yes, I know this may sound a lot like a counterproductive tip, but trust me, you’ll actually create interest that can pay off big later). But that’s not even all; Amazon Kindle also offers your customers the opportunity to make physical copies of your work anywhere they are in the world for free. So, once someone buys your book on Kindle, they can print it anytime and anywhere they like, thereby saving you any storage or inventory costs. Lastly, you can also leverage Amazon’s partnership with the popular audio brand, Audible, so that you can make an audio version of your book. That way, people can first listen to what your book is about before proceeding to make a purchase.
Nook is responsible for up to a quarter of online book readership. So, if you’re choosing to publish on Nook, you can lay to rest any lingering fears you have about whether the global community will discover your work or not. One very big advantage of publishing your EBook with Nook is that it allows for collaboration, so if you are writing your book with another writer, Nook might be a great place for you to look. For books priced from $2.99 to $9.99, royalties charged are 65%, and outside of this range, royalties drop to 40%.
There is no denying that Apple products have taken the global community by storm, and as such, there’s hardly anywhere you go to that you won’t find an i-product of different sorts. In this light, being able to get your EBook on any of the Apple products can be a great step in the right direction for you. Publishing with iBooks – the bookstore of Apple – means that your work will be available to anyone who has an iPhone, iPad, or Mac. For authors who have written EBooks, including a cookbook, children’s books, photo book, or any other type of EBook with loads of multimedia features, Apple iBookstore is simply a great place to look into. Typically, royalties are 70% of list price, and there are no listing fees charged.
Other notable options include:
Michael Kozlowski is the Editor in Chief of Good e-Reader. He has been writing about audiobooks and e-readers for the past ten years. His articles have been picked up by major and local news sources and websites such as the CBC, CNET, Engadget, Huffington Post and the New York Times.