Are you an author struggling to get in enough royalties? Tired of working long hours for little pay? If so, read on. Here we will explore the various ways you can increase your author revenue and make a sustainable living from your passion for writing.
From leveraging social media channels to building a loyal fan base with email marketing, Business Author Academy aims to provide you with the courses and strategies to boost your income as an author. I mean, someone has got to focus on this, since the book publishing industry is full of sharks. So, let’s dive in!
Diversifying your author income streams
Business owner or not, you would do well to explore different opportunities to increase your author income. This includes finding ways to monetise your brand, such as speaking engagements or merchandise sales. It also means considering traditional publishing and self-publishing options to diversify your portfolio.
Another important aspect of diversifying your income streams is digging deep to understand your audience and then catering to their needs. This includes exploring different book formats, such as audiobooks, and affiliate income or YouTube channel building to reach a wider audience.
See the new 20-day course: More Author Revenue. It’s free, so any new business-minded authors can join.
Building a strong online presence
One effective strategy is to develop a comprehensive online marketing plan that includes building a professional author website, creating visually appealing branded social media profiles on three platforms, and engaging with potential readers and fans online.
Your website should feature a headline, sales information about your books, a bio, and contact information, and should be easy to navigate. Social media can be used to interact with your readers, promote your books, and alert followers to your book raffle or exclusive content.
Another key aspect of developing a strong online presence is to invest in effective book marketing campaigns. One proven strategy is to leverage book reviews, which can help you build credibility as an author and attract new readers.
Overall, building a strong online presence requires a multi-faceted approach that incorporates book marketing (library suppliers and publications), social media posting, and consistent engagement with your audience (Goodreads groups, Twitter, Skools, Quora: think community).
With these strategies in place, you can increase book sales, enhance your reputation as an author, and grow your author revenue.
Negotiating better book deals or joint ventures
Creating a strong marketing plan to promote your book can also help you attract friendly Author-Small Press joint ventures, especially if you have got a reputation for doing the work to make books sell.
Another way to increase revenue, if you have a traditional publisher, is by negotiating better royalties once your books are proven.
A strong marketing campaign can help increase book sales and revenue. Publishers should provide marketing support for authors such as social media posts and photos, book signings, and advertising.
Building and engaging your audience
It’s also crucial to build a robust and active email list. Email remains one of the most effective ways to promote your latest book releases, book signing events, creative news, and tidbits from your books. By sending regular newsletters with exclusive content, such as poems, giveaways, and sneak peeks, you can keep your subscribers engaged and excited about your future projects.
Engaging through content marketing is yet another way to promote your book and your author brand while building up your revenue streams. By providing valuable insights, tutorials, or other content specific to your niche, you engage with a potential audience and develop some interest in your books. Webinars and Lives are another free way to give value and mention the books. Engaging with your readers is a vital element of book sales, and ultimately, royalties and reviews.
Investing in your writing skills
By investing in your writing skills, you can also increase your author revenue. If your content is engaging and well-written, it has the potential to attract a larger audience and sell more copies. This, in turn, can lead to increased book sales and revenue. Investing in your writing skills can also help you develop a unique writing style that sets you apart from other authors, making readers more likely to choose your content over the competition.
Furthermore, investing in writing skills can help you craft better marketing copy for your book. For example, if you learn how to write effective hooks and book blurbs, you can pique reader interest and encourage more sales. Longer blurbs can also contain more key phrases.
Similar to Dave Gow of Strong Money Australia, investing time into your writing skills (along with a great audience-focused idea) can have a significant impact on your book sales, blog quality, and overall author revenue. By doing so, you can set yourself up for long-term success that goes beyond just writing a great book.
