While some people still prefer the convenience of a printed book, many people now choose to download and read eBooks instead. It is the preferred method if you want to read the information instantly rather than wait for it to arrive in the mail. Since you do not have to pay printing costs, starting a profitable eBook business is possible for just about any type of written publication. Today, ebooks are a 6.74 billion dollar industry and are expected to grow to over 8 billion dollars by 2018.
The Pros of Online eBook Business –
eBooks offer many advantages to home-based entrepreneurs including:
- Fast to produce depending on the topic and purpose.
- Affordable to publish. Many resources will publish and distribute to the major ebook retailers for free.
- Can increase your credibility in the market. People are impressed with a book particularly one sold on Amazon.
- Offers another stream of income to your home business.
- Can become a business enterprise on its own.
- eBooks are passive income, in that you create it once and it can keep making money for you.
The Cons of Online eBook Business –
Like all things in life, there are downsides to creating ebooks including:
- The market is saturated and it’s difficult to get your book noticed.
- The quality of content and format is crucial. Don’t expect to sell and make money unless you merge these two factors.
- ebooks sell at a lower price point than other information products such as e-courses. This means you have to sell a lot to make money.
Before proceeding I recommend you to choose a PDF creator program as well as a digital rights management solution that protect eBooks from theft or unauthorized sharing. This is important if you want the business to be profitable. If eBook pirates distribute the book for free it negatively affects your bottom line. As the industry expert, Albert Greco of Fordham University states “It’s fair to say that piracy of eBooks is exploding.”
#1 Creating your eBook
Your first task is to find a topic that you can write about. The ideal topic is one that you are an expert in and that other person will be interested in. Ideally, the book will explain how to solve a problem that these people face.
Once you’ve identified a topic you’re going to write about you need to research it. To do so, visit your local library, buy some books from Amazon or better yet use your favorite search engine to find out more about it.
To actually write the book you can use an online office suite, Microsoft Office or better yet the FREE office software provided by OpenOffice.org. OpenOffice has the advantage of saving directly to Adobe PDF format.
Finally, you’ll need a way to distribute your ebook. You could simply personally email it to everyone that buys, which is fine if you only expect to sell a few copies a week. But if you’re hoping to sell a lot, you’ll need to deliver it through a website.
#2 Selling Your eBook
To sell your ebook you’ll need a sales pitch. The sales pitch explains to the potential customer why they should buy your ebook. It should focus on the benefits that the ebook will provide them, i.e. it tells them how to solve their problem.
You’ll also need a way to get paid – after all if the customers can’t pay you, you won’t be making any money. Fortunately taking credits cards online is easy (and cheap) using services such as PayPal.
#3 Marketing Your Online eBook Business
So you’ve written your ebook, you’ve created a sales page and you’re ready to take payments via PayPal. But no one has bought it yet. Time to start marketing them. Fortunately, the internet is a great way to reach customers and there are a number of ways to market to them.
#4 Search Engine Optimization
A large portion of internet users use the Search Engines (Google, MSN, Yahoo, etc.) to find what they are looking for. So the cheapest way of getting customers is to be listed at the top of the search engines. Doing so, however, requires an understanding of the art of Search Engine Optimization (SEO).
#5 Search Engine Marketing
An alternative to SEO is Search Engine Marketing (SEM), also known as Pay Per Click advertising, or those adverts down the right-hand side of the search engines.
They are a great way to advertise directly to your target market and you can get started instantly. They can also be very cheap, costing you just a few pennies per click (visitor). I suggest you start with Google Adwords. To truly get the best out of Google Adwords it’s worth signing up Perry Marshall’s Free Adwords Course.
#6 Selling On eBay
You can sell ebooks on eBay, which is a great way to get started.
#7 Email Marketing Your Online eBook Business
If you’ve got a list of people who are interested in your topic and who are happy to receive an email from you then send them an email and tell them about it. If you don’t have such a list, find someone who does and see if they are prepared to review it or otherwise tell their email list about it.
#8 Using Forums
Find forums related to your topic, join them, take part in them (ideally by posting good relevant answers to the questions asked). Include a link to your sales page in your signature.
#9 Article Marketing
This involves writing articles related to the subject of your ebook and distributing them to the various article directories.
#10 Using Blogs
There are several ways to market using blogs –
- Starting your own blog, but this takes time and you’ll need to market the blog.
- Getting your ebook reviewed on relevant blogs. Just contact the blog owner and ask them if they are prepared to review it.
- Write an article related to your topic and offer it to relevant blogs as a guest post. If it’s a good unique content they’ll probably use it and will include a link to your site.
- Advertising on blogs, simply find a blog about a related topic and buy advertising on it.