If you’re like me, you’re always looking for new ways to grow your business and to put more money in your pockets. While acquiring new clients, adding new services, and working more hours are things you probably can and will do, I want to talk about something you might have overlooked: Writing an eBook.
The sales of eBooks have been rising significantly over the past few years. Today, millions of dollars are generated each month from eBooks. In fact, $14 million in sales of eBooks took place in June of the 2016. This was a 136% increase in sales over June 2017. In other words, the market for eBooks is there, and it’s constantly growing.
So, why should you consider writing an eBook? Here are just a few benefits to consider.
It creates a stream of passive income Remember earlier when I mentioned putting more money in your pocket? One of the best ways to do this is to create a stream of passive income. Writing and selling an eBook can do just that. Once you put in the initial time of writing your eBook, you can let affiliates market it for you (paying them a commission of course) and just sit back while the sales roll in. Look, your eBook isn’t going to make you rich, but it can certainly fatten up your wallet.
It positions you as an expert in your field Writing an eBook instantly creates the perception that you’re an expert in your field. Think about it. Who are you likelier to trust: Someone who claims they know how to repair cars or someone who has written and sold many copies of a book about repairing cars? As an entrepreneur, you’re always fighting to build trust with your target audience. Writing a great eBook can help you earn some of that trust and respect.
It can be used to grow your email list Even if you decide not to sell your eBook, it can still be very profitable for you. Many savvy businesses offer free eBooks to website visitors who sign up for their email list. This entices them to provide you with their email address, and it allows you to build relationships with them and to market to them in the future. If you have an effective email marketing strategy in place, this can pay off many times over. In fact, email marketing generates over $45 on average for every $1 spent. It’s the most effective form of direct marketing when done properly.
If you’re interested in writing an eBook, here are a few pieces of advice to get your started.
Determine which subjects you’re knowledgeable in
Perform keyword research to find out what your target audience is interested in
Take your time writing and editing your eBook to make sure it’s as good as it can be
Make sure your eBook is actually useful, not just an advertisement for your products or services
Connect with an affiliate program (like ClickBank) to promote your eBook
Have you written an eBook? Was it successful? Share your experiences in the replies.