The digital era has opened up many opportunities to make money online. Whether you want to build a business generating considerable income or find a side hustle to help make ends meet, the online space offers opportunities. One of them is in the eBook publishing realm.
Did you know revenue in the eBooks (you can try this) category could reach $14.21 billion this year? According to research firm Statista, revenue is on pace to achieve a compound annual growth rate of 2.01% from this year to 2027. It adds the following:
- The number of eBook readers could reach 1.12 billion by 2027.
- The user penetration rate will go from 12.8% in 2023 to 14.1% by 2027.
- The average revenue per user is expected to add up to $14.46.
While you won’t likely get rich selling eBooks, it’s one way you can generate an income. Are you interested in learning how to go about it? Keep reading for the nitty-gritty.
Figure Out What Your Audience Wants
Your first order of business is to figure out what type of eBooks you want to sell. If you’re a business owner and want to find ways to generate more leads, you can write eBooks based on what your target demographic is interested in. What are their interests? What are their pain points? How can you provide the help people need?
Strive to make your eBooks evergreen or timely. On the one hand, an evergreen eBook will be relevant over the long haul. On the other hand, a timely eBook will be out of date over the long haul, so you’ll have to update it regularly. The good news is that updating eBooks is a lot easier than updating physical books. So, if you write an eBook focused on current events, you can easily make updates that can be rolled out immediately.
Figure Out What EBook Format You Want
You’ll want to choose the eBook format or formats you want for your eBooks. It’s best to look at what’s out there and decide based on which publishers and distributors you plan to use to make your eBook available to the public.
Create Outline and Write Your EBook
After brainstorming and developing an outline of what you want to cover, start the writing process. Having a detailed outline will help you stay on track. If you have enough, you can commission someone to write the book. You can pay them something upfront, give the writer a percentage of the proceeds, or reach an agreement combining both options. Once you’ve written your eBook, proofread and edit it to prepare it for publishing.
Obtain ISBN for Your EBook
Your next step is to obtain an International Standard Book Number (ISBN) for your eBook. You need an ISBN so bookstores and distributors can differentiate your eBook from others. It’s also essential to know that most distributors and publishers require that any eBook sold on their platforms have ISBNs.
Design the EBook
You’ll next want to design your eBook by creating a cover, table of contents, info page, content pages, and an about the author page. Do you have the right skills for the design process? If not, hire an experienced professional who specializes in designing eBooks. Such an expert will know the ins and outs of designing an eBook that generates interest and entices people in your audience pool to buy your eBook.
Choose Sites to Sell Your EBook
Once your eBook is ready for showtime, you’ll want to choose the sites to sell it on. Options include but aren’t limited to, Amazon Kindle Direct Publishing, Visme, Sellfy, Rakuten Kobo, and Gumroad. Follow the processes and procedures for selling your eBook on these sites. While you’re at it, consider the price for your eBook.
Promote Your EBook
Promote and market your eBook. Social media is your friend. And don’t forget the power of a good landing page that helps to turn your target demographic into customers. The saying that if you build it, they will come isn’t true in the digital age. You need to proactively reach your audience and sell them on the value proposition of your eBook.
Consider these tips if you fancy writing eBooks to generate income. But don’t limit yourself to eBooks. When it comes to publishing, print is still king. Some prefer holding physical booklets, magazines, and books rather than staring at digital publications. But don’t let that stop you from going the eBook publishing route. It’s a potentially faster way to publish your books and can lead to an extra income stream.
