Some authors state they only have one title published and that they can’t earn much income from that singular item but one written story can easily become multiple streams of revenue. Check out these potential sources of revenue based off your book.
Publishing a book in the electronic book format is the baseline for many authors and some will only produce in this format. Genre also plays a part in how readers consumer your work. Some books may not work as an eBook, a coloring book for example, while others are primarily read electronically.
While there is a great deal of book consumption in the virtual world don’t overlook other formats.
For me, more than half of my income come from paperback sales. I, personally, prefer a physical book in my hands to reading on my mobile device.
It’s interesting how many people prefer a hard back book. I find that less than 1% of my sales are in hard cover format but it’s good to have that option available for picky readers.
The audio book segment is gaining a lot of market share with so many people traveling vast distances daily and unable to read while doing so. Technology has made it so anyone with a smartphone can record an audio version of their own book. Audio books can garner more income per sale too!
Is there something you can discuss that revolves around your story? Whether fiction or not there are people who love to listen and talk about books. If you have gumption to stand in front of a crowd, or a handful of people, consider this option. Many authors make a large percentage of their income from speaking engagements.
Much like speaking event, these are educational focused events that springboard off the material in your published title. Not only do you earn from sales of the book but also earn additional income for your presentation.
Adding one more ala cart item that can be sold with your book are workbooks. Did you write fiction? Try selling a workbook listing the background of the characters, places, and events from your world.
Don’t forget to list your work on many different platforms! Sure, Amazon has the largest share of sales in the United States but there are other platforms to squeeze out additional units sold from all corners of the planet.
There’s an adage that the first thing an author should do after they have published their initial book is write another. While that does increase your earning potential exponentially, there’s still plenty you can do with a single title while you perfect your follow up title and work to create a box set in all the above listed types of format.
How do you make the most out of your titles? Let me know!
Richard E Todd, author of The Golf Rules series, Short Stories from the Long Links, and other titles has been heard on the PGA Tour radio station and seen in On The Green magazine. Contact him at Richard@AuthorRichardETodd.com and follow him on social media and at www.AuthorRichardETodd.com ✍ and www.TheGolfRules.com.⛳