How to do Business with your Ebook
Many people ask us how to make money with their ebooks. We interviewed Paula Abreu, a Brazilian writer, coach and digital strategist who is doing an innovative kind of business: She opened her marketing strategies and her budgets to give a one year program for digital heavy users. Furthermore, she is releasing her 4th book exactly about this theme: How to make money with an ebook. She also pointed some important uses you can do with Widbook to help your career. So let’s pay attention to some of her tips on this first part of the interview:
Widbook – Hi Paula. You are opening your business for a 1 year program you are offering. What are your business main strategies?
Paula Abreu - As a writer in a country where there’s a general belief that “writers do not make money”, I had to be creative and innovate to be able to make a living out of my passion. The whole digital strategy for my business will be laid out in the program, in detail, but it involves creating different income streams. In an online business, it is ideal that all your products and services form a sales funnel that will filter your clients (going from cheaper and simpler to more expensive and complex products/services).
So, for example, my own sales funnel involves the following:
Free content on my blog (articles & videos) –> Free Ebook –> Paid Ebook –> E-courses –> Coaching/Consulting services –> Long-term partnership
Of course the quality of your content is essential so that this funnel will work. No one will buy your ebook if your free content is not good and so on.
Widbook – How do you intend to earn R$ 100,000 in one year online?
Paula Abreu - Essentially, with the products and services in the sales funnel above, plus partnerships and public speaking. I could, in theory, make all of that amount – or even double or triple – only with coaching and consulting clients, but my main passion is to write, so I keep my coachees limited to a certain number that allows me enough free time to write books, articles and film my videos.
Widbook - You came from the printed market. Which advantages do you see by publishing a book online?
Paula Abreu - In the printed market, the author usually loses control over its work (e.g. cannot choose the book cover, launch dates, marketing strategy, etc.) and, in exchange, receives – in Brazil – a 5 to 10% commission per book sold. Unless the book becomes a best-seller, it is not very interesting, financially.
By publishing online, I get to choose the people who I work with (designer, PR, etc.) and yet I get to keep something between 89-94% of the book price (which I also get to decide).
Online publishing also allows more space for innovation. For example, I have created an Affiliate Program for my next book, in which I will pay a 50% commission to my readers who help me sell my book and spread the word.
Most importantly, publishing online does not prevent you from having your books published later in paper – this has actually happened quite frequently lately. For example, paranormal fiction best-seller Amanda Hocking sold millions of copies of her ebooks at Amazon before signing a USD 2,1 million deal with St. Martin’s Press in the US and Pan Macmillan in the UK.
Widbook - How do you think Widbook can help authors?
Paula Abreu - Self-publishing allows authors to publish their books sometimes too soon, with little help with editing. While self-publishing may be easy, self-editing is a lot more complicated, especially if it is your first book or if you have never been published in paper and you are not familiar with the whole editing process, including story editing.
It is amazing for the author who plans to self-publish to have a platform such as Widbook, where he or she can submit his / her work to readers and get comments/opinions.
It is also a means to create a base of readers before publishing your paid ebook. Amanda Hockings, for example, usually sold the first book in a new fiction series for USD0,99 and the next books would cost USD2,99. An author could use Widbook to publish the first book in a series for free and then charge for the sequels.
Or, as I intend to do, an author can attract new readers by publishing a sample of the book with the link to the book’s sales page.
Widbook – Thank you Paula.
On the next part of the interview, she will detail the main steps that an author needs to follow to make money with an ebook. Stay tuned!
To go deeper and evolve all this topics, access her website and read her books. Some of those will be available on Widbook soon.