“How much money will I make on book sales?” is a common question both clients and non-clients have asked me.
I get it, many of the people in my circle are business owners, and they are concerned with the ROI of writing a book.
Both in time and money spent to create it. But here’s the thing, much of the money you make from your book likely won’t come from sales. Sure you might hit it big and become a best-selling author, but more likely your book will become a leverage point for other high paying opportunities or clients.
You can use your book to get speaking engagements, or high paying coaching clients and advising clients. And you can even use your book to advertise for courses you might sell!
Either way, ROI can be gained much faster by leveraging your book than depending on book sales alone.
The Power of Free
We often associate value with a price tag.
However many authors have found a way to provide value while giving away their book for free.
Jeff Geerling is a great example of this. He builds software, and is a DevOps author who gave his books away for free during the pandemic. Then he, wrote about the results.
His software development sales soared exponentially during the giveaway period. And, the most fascinating takeaway is that even though he was giving his books away for free, his book sales almost quadrupled during the giveaway!
When a product or service is excellent, word of mouth is powerful.
By providing free access to the book, the author expanded his audience. And as readers benefited from the material, they likely recommended it, leading to increased sales. Jeff not only solidified his authority on the given topic, but he also made his book accessible to a wider audience, increasing the chances of it being read, discussed, shared, and landing within key clients who would want to work with him.
Turns out “free” is actually highly profitable!
The Numbers Don’t Lie
In case you need further proof the ROI a book can provide for your business, Grammar Factory Publishing put out some shocking stats.
After surveying 150 entrepreneurs on how writing a book impacted their business, here is what they found:
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- 34% said their earnings have doubled since publication
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- 63% received additional media opportunities
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- 72% got speaking engagements as a direct result of their book
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- 86% have seen business growth since launching their book
Crazy right?
While not all of these entrepreneurs gave their books away for free, the data makes it clear the benefits of publishing a book goes beyond direct book sales.
The authority and credibility that come from being a published author can open doors which might have previously seemed out of reach.
However, the decision to give away your book for free is personal and depends on your goals as an author and entrepreneur. If direct book sales are your primary objective, this approach might not be for you. But, if you’re looking to boost your profile, expand your network, and capitalize on indirect opportunities, offering your book for free could be the key!
Need Help Writing Your Book?
At Alliance Ghostwriting we help rebellious leaders establish authority with audience captivating books. With our focus on speaking to the problems of your audience and shaping the content to your voice and tone, you’ll expand your reach and author your future.
We’ll handle the writing while you break the mold. Contact us to get started!
