Tuesday, March 3, 2020

How Do You Monetize Your Book?

Image result for images of money

Writing, it seems, is a side hustle for too many people. Few are full-time writers. The money just isn’t there. But too many are treating their writing like it’s a charitable effort. Just look at all of the free stuff -- free blogs and online content; giving-away books; writing free articles for Linked In or publications. Can authors make some money -- or what?

The way to making money from your writing is a complicated path. It may come from any number of sources, including the following:

·         Book sales (in all formats – hardcover, trade paper, ebook, audio book).
·         Rights sales (movie, television, stage, etc.)
·         Foreign rights (Selling language rights overseas).
·         Using the book to build a seminar business.
·         Having the book as a lead generator for online courses.
·         Combining the book with more expensive products, backlist, or services.

You can also re-purpose your content and sell it again.  For instance, take sections of your book and turn them into smaller books or content downloads for a fee. Or combine some of your content with someone else’s and form a new book or product.

Few get rich writing. We do it because it’s meaningful and enjoyable,, to serve a greater good and keep our legacy alive. We hope to enlighten, inform, entertain, or inspire others. Our words are precious commodities to us, even if we can’t always exchange them for money.

Authors can make money from book sales if they are pro-active about seeking those sales. They market, promote, and advertise. They invest time, energy, and resources into getting their brand out there.

Your book can help you generate media exposure for yourself, which could lead people to hire you, go to your site to buy other things, or to allowing you to get bigger book deals. Your book will validate your life and knowledge base and help you to be perceived as an expert. You can cash in on that.

The riches of writing books may, in the end, come in the shape of inner peace. Those who write well and often feel rewarded from the very act of putting pen to paper, fingers to keyboard. 

Writers, you are wealthy in ways you can’t count, but it would be nice to see a few bucks go in the bank, too.  Ka-ching!

“It is also  an urgent argument that rereading offers the opportunity to not just correct and adjust one’s recollection of a book, but to correct and adjust one’s perception of oneself…Bid your therapist goodbye, and dig out your college syllabus.”
--New York Times Book Review of Unfinished Business: Notes of a Chronic Re-reader by Vivian Gornick


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Brian Feinblum’s insightful views, provocative opinions, and interesting ideas expressed in this terrific blog are his alone and not that of his employer or anyone else. You can – and should -- follow him on Twitter @theprexpert and email him at brianfeinblum@gmail.com. He feels much more important when discussed in the third-person. This is copyrighted by BookMarketingBuzzBlog ©2020. Born and raised in Brooklyn, he now resides in Westchester. His writings are often featured in The Writer and IBPA’s Independent.  This was named one of the best book marketing blogs by Book Baby http://blog.bookbaby.com/2013/09/the-best-book-marketing-blogs and recognized by Feedspot in 2018 as one of the top book marketing blogs. Also named by WinningWriters.com as a "best resource.” He recently hosted a panel on book publicity for Book Expo America.

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