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In this article, I’m going to explain all the ways you can monetize a book.

A lot of authors consider their book to be their business card.

For example, when they go to a conference, they hand out their book in place of a business card.

And certainly, a book is far more impressive than a card.

After all, what do we do with business cards a few weeks (or days) after we get them?

We look at it, try to recall where we got it or why we have it, and then throw it out.

With a book, people are likely to feel warm and fuzzy when you hand it to them (“Oh wow, a free book!”) but then they get home, throw it on a pile of unread books and forget about it.

Yes, that’s right. Maybe using your book as your calling card isn’t your best option.

“But wait, I don’t hand mine out, I sell them on Amazon.”

This is a better alternative for a couple of reasons.

First, you are making some sort of profit on each sale.

Second, inside the book, you are asking the reader to join your list (you are doing this, right??)

And third, having a book on Amazon gives you a slightly higher dose of credibility than simply keeping a box of them in your garage.

This is especially true if you have lots of good reviews for your book.

But still, there are better options for what to do with YOUR book.

One caveat: If you haven’t yet written a book, you might want to consider it, especially once you’ve learned the techniques for monetizing a book that I’m about to share with you.

#1: Audio Books

Right now audio is the fastest growing publishing platform on earth because everyone has a cell phone with them nearly all day long, and they can listen to your book on their phone.

People can listen to your book while doing a variety of things, like running, cycling, doing the dishes, or cleaning the house.

Audiobooks are being consumed at an unprecedented level.

And you can make a ton of money with audiobooks right now – here’s how:

Have you ever seen the “Audible, Free 30 Day Trial?”

Let’s say you send out an email to your list, or your post on social media, letting your readers know that you’ve just released your audiobook.

If they click your ‘bounty link’ that leads them to sign up for the free 30-day trial, and if they stay an Audible subscriber for 61 days, you will make $75.

That’s right. Maybe your audiobook sells for $20, but you will be paid $75 because they continued on as an Audible subscriber.

And don’t forget to make an offer on your audiobook to get people onto your list.

For example, “If you enjoyed this book, head over to URL.com/free to get another audiobook (or video, or whatever) for free.”

Send them to a squeeze page to get their email address, or send them to the content, but hold back the second half of the content to get their email address.

Test to see which method converts the best for you.

#2: Ebooks

Amazon is the third-largest search engine in the world (you can guess the other two – Google and Youtube.)

People on Google are searching for free information.

People on YouTube are hunting for ‘how to do something.

And very importantly – people on Amazon are looking to spend money now.

Amazon will pay you 70% royalties for your book.

If 70% doesn’t sound like a lot, keep in mind that traditional publishers pay 10-14%, max.

Convert your ebook into Mobi and ePub formats.

Mobi is for Amazon Kindle, and ePub allows you to be on iTunes, via iBooks, as well as Nook readers.

13 POINTS TO WRITE A PROFITABLE EBOOK

FREE PREMIUM COURSE: KINDLE PUBLISHING

#3: Hardcover books

For the maximum boost to your credibility, and to appear as the ultimate authority, publish your book on the hardcover.

If you place two books side by side – one softcover and one hardcover – the hardcover is simply more impressive.

It looks more impressive, sounds more impressive if you thump it, feels more impressive, and has an actual dust jacket.

And yes, I know this might sound silly.

After all, the only difference is the format, softcover versus hardcover.

But a hardcover is simply more impressive all around, so why fight it?

Publishers give paperback deals to unproven authors because it’s easier and less risky for them.

If you do any speaking at all, or plan to, you must have a hardcover book.

It will win you speaking gigs over other speakers who have no book, or even just a softcover.

Crazy but true.

Hardcovers influence and wow people, regardless of the contents.

#4: Softcover books

After everything we just said about hardcovers, you might think we’re opposed to softcovers.

Not at all.

Many people want to purchase the lower-cost version of your book and that’s fine.

Just remember when you’re using your book to get a speaking engagement, land a big client or otherwise impress someone, always go with hardcover.

#5: Masterminds

If you have a non-fiction book, there’s a good chance you can do a mastermind around your book.

Create a private Facebook Group.

If your book has 12 chapters, do a 12 month deep dive into your book.

Schedule one 90 minute Zoom call per month, with three segments.

The first segment is all about the first chapter in the book.

The next 30 minutes is taking a hot seat with one of the members and how the material relates to what he’s doing right now.

The entire group coaches him.

The last 30 minutes is when everyone in the group says what they will accomplish in the next 30 days.

Then you meet once, in person. Everyone comes to your city, and you can charge $1,000 for this, or even a lot more.

Some people will just want to do the Facebook Group, and a subset of those will also want to meet in person.

Or you could make it mandatory that everyone does both. It’s up to you.

People are paying for access to you, as well as access to the other people in the group.

This means that while you need to plan out what you’re doing and give tremendous value, it also means that it’s not just about you.

It’s about everyone in the group networking with each other, too.

#6: Self-Study Online Programs

This can be priced low or high and sold either for a one-time price or for a monthly subscription.

You can record everything on your cell phone or invest some money in a camera and lights.

Use your book as your outline, and go through it chapter by chapter, adding information, not in the book, giving examples, handing out assignments to implement the information, and add anything else you want.

And just like your book, you create it once and you get paid for it over and over again.

You can put your course on a site like Teachable if you don’t want to place it on your own site, making it even easier.

You can have a self-study course on almost anything.

And if you add a community to your course, where students can interact with each other and you come on from time to time to answer questions, the value (and the corresponding price) increases.

#7: Live Coaching Programs

If you’re making an online course, why not do a live one and record it?

You can charge more for the live coaching program, and you can highlight your students’ progress in the course, too.

Also, you don’t have to be an expert like Tony Robbins.

You can be the guide who tells people that you struggled, too, but you found a way to accomplish this thing that you are teaching.

Or you can even be in the struggling stage, where you are at an equal level with the reader, but you are reporting on the methods that are working for others.

#8. Certification Program

Certify others to teach your program.

Do you want to be well-known?

Allow other speakers, coaches, and trainers to teach your content.

They pay you for all of your information, slides, handouts, knowledge, and so forth, and then they are certified to go out and teach your course themselves.

It is still done under your name, and you are still selling your books and other products to these students.

Your trainers are bringing your name and information to people all over the world who you otherwise would never have reached in your lifetime.

And you can charge them a fee ($1,000, perhaps?) for each course that you have created.

They can be certified to teach multiple courses.

#9. Paid Masterclass

You can charge a small fee, like $97 or less, to teach your techniques to live on a webinar.

This works amazingly well if people want the information you have.

Be sure to give them lifetime access in case they can’t make it to the live version or want to watch it again.

#10. Speaking Gigs

You can do a talk based on your book and get paid for it.

Some authors are getting $15,000 per speech.

The better known your book is, or the better known you are, the more you can charge.

You can also make money doing free speaking gigs if you are allowed to promote your courses and products.

#11. Live in Person Seminars and Conferences

This is the old hotel room seminar, where you either charge people or talk for free and then sell your course.

Remember, when you give away free stuff, the people think, “Wow, if this is the free stuff, how good is the paid stuff?”

If you’re doing this alone, it’s a seminar.

If you’re one of several speakers, then it’s a conference, but they work the same way.

You get in front of people, give out great content, and upsell them to your paid versions.

Or you charge a good price for the seminar or conference and then include your course or product for that one price.

#12. Consulting

As an author, if your topic is a good fit, you can get hired to consult with companies and entrepreneurs.

You’ve probably seen an offer in the back of business books, made by the author, to do consulting.

#13. Podcasting

Once you’ve built up a name and have a large following, you can make money podcasting without even promoting your own products.

How?

By selling sponsorships.

If you have a large, attentive audience, sponsors will line up to be featured on your podcast.

And of course, getting your name out with the podcasts can also increase the sales of your own products as well.

For example, when you interview expert John Smith, and he tells his readers that he’s on your podcast, he is now sending you traffic and potentially new subscribers and customers.

In addition, if you interview experts who have their own products to sell, you can act as their affiliate and give out your affiliate link on the show.

You can see why podcasting is a win-win-win all the way around.

And don’t forget, you can be the guest, too.

You can go on someone else’s podcast and promote your book or course.

READ MORE: HOW TO START A PODCAST

The Only 2 Things You Need to Make a Freakin’ Fortune in Online Marketing:

Step right up here! We’ve got gizmos, black hats, tips, tricks, techniques, loopholes, and secret formulas for making money online.

You can be sneaky, lazy, dumb, ignorant, and have your worst hair day ever, but if you do what we say, you can be rich at the press of a button.

Just buy this shiny new object, get that little thrill of knowing you are on the verge of making it BIG BIG BIG this time, and then by tomorrow you can forget all about it.

Because… that’s what most wannabe online marketing folks do.

Then there are other folks – the folks I can really relate to – who crash and burn.

They do something grand.

They buy a busload of traffic or they launch a new product or they do something that, if it succeeds, will send them on their way.

And they not only crash, but they take out everyone next to them, too.

They get screwed, demolished, and hurt.

They look so roughed up, you’re sure they’ll never get in the game again.

But the very next day, there they are, ready to try again.

And guess what?

They almost always eventually succeed.

But this isn’t about perseverance.

It’s about the mistakes people make, and the two things – THE ONLY TWO THINGS – you need to succeed online in a very big way.

Everything else is just extra. It’s window dressing. It’s nice, but it’s not what’s making the money.

First, the mistakes and the people who make them.

Dabblers – These are the aspiring marketers who have a finger in everything.

They try this and they try that, they never commit to anything.

They never go all in full force.

It’s like they’re at a buffet, and they take one bite of this and spit it out, and then one bite of that and spit it out.

They never choose a meal, sit down and EAT.

Bouncers – These folks get in deeper than dabblers.

They actually get excited and committed enough to start something.

But then they’re off to the next thing, and the next and the next.

There is always something better, faster, and easier on the other side of the fence, and they become pros at fence hopping and not much else.

Learners – These people are in business to learn.

Not to do, but to discover.

They discover every step of every business and break it down and learn some more.

They analyze and overthink and keep looking for the next thing to learn because as long as they’re learning, they don’t have to do anything or take any risks.

The Know-it-Alls – These are the folks who will tell you that they already know what you are trying to teach them.

And yet, they are not making money.

They may have known it all for years, but it doesn’t matter.

If they don’t apply what they know, then they do not truly know it at all.

Here’s what all four of these types of aspiring marketers are NOT doing:

• They are not driving traffic and generating leads
• And they are not creating conversions

If you can do just these two things, then you can make a fortune.

And even if you can only do ONE of these things, you can still get just as rich, as long as you partner with people who can do the other one.

Nothing else really matters.

You can have the best product in the world, but if you can’t get traffic to it and convert that traffic into sales, then it is worthless.

You can have the best customer service, but if there are no customers to serve, what good is it?

You can have the greatest content, the fanciest website, or whatever, and if you cannot drive traffic and make sales, you are not making money.

Let me ask you this… what are you working on right now?

Is it something to do with driving traffic?

Or converting that traffic to sales?

Because if it’s not, then you might want to drop what you’re doing and get busy with what’s important.

Are you terrible at driving traffic?

Then focus on conversions and have affiliates drive traffic for you.

If you have an offer that sells well, then getting affiliates will be no problem.

Is your conversion challenged?

Is writing sales copy something that you’ll never master?

Then you can either hire someone to do it for you, or you can focus on driving traffic to other people’s offers that do convert.

Focus on traffic, or conversion, or both.

Ignore everything else.

Don’t get sidetracked, don’t spend a year learning about traffic and another year learning about conversions.

Focus your efforts like the greatest laser ever built.

And within a year you will be making enough money to tell your boss to stick it, to buy that new house and car, and to start living the life of your dreams.

Traffic.

Conversions.

That’s all you need.

You are one conversion-winning system away from a million dollars.

So get busy.