Books are the words that touch lives. From adventurous stories to motivational novels, books are one of the oldest and still popular ways of getting a message across.
Millions of hardcopy, softcopy and audio books are sold online every day. If you’re like me and read or listen to many books, then you have an extreme advantage to make some extra coin. In this post, I’m going to show you how to make money selling books online.
Turning the virtual page
The history of books extends from ancient Egypt and look how far we have come into scripting information to be shared. In an age where we would think books would become obsolete with the internet, people are reading more than ever.
Technology has the changed the way the consumer reads books. Having the ability for large quantities of books on lightweight mobile devices, give users the ability to digest different formats of books with flexibility.
If you’re a fast reader and chew through novels, there is no need to keep making trips to the book shop to purchase more heavy hardcopy novels. If you’re a slow reader (like me) and like to listen to books while you drive, you get to take advantage of sitting in traffic and learning something new.
221 Million eBooks were sold in the United States in 2016. The audiobook industry is valued at $3.5 Billion globally with United States taking $1.8 Billion of that. The point is ever clear, anyone has the chance to read a book and there is lots of money to be made. So why can’t you get small chunk of the pie?
What do you look for before you buy a book?
Reviews, Reviews and more Reviews. There is so much choice in the book world and if I spend my $15-$50 per book, I want to make sure it’s a damn good read!
I reckon I spend more time reading reviews than I need to, but this is the influence that guides me to my next purchase. I want to hear what everyone else thinks, good and bad.
Did you know approximately 60% of online purchasing is influenced by reviews, blogs and videos? Pretty crazy hey! Well, these inspirational reviewers are all getting their commission when I buy from there recommendation.
You’re already an expert – share your knowledge and make a buck
If you’ve read a book before, you are now an expert in the book reading field. This means, people need your help to decide which book to read.
For every book I’ve read, I now write a review and post it on one of my websites with links on where to buy the books. When the lovely customers are inspired by my review, they click on the link and purchase the book via their favourite reading medium. When they purchase on my review, I get reimbursed for my advice via an affiliate link commission.
Your valuable synopsis of the books you read can really help people make their decision and possibly make it while they are visiting your review.
How much money can you make from selling books from affiliate marketing?
This depends on the affiliate program but I’ll use Amazon as it’s one of the larger networks for selling eBooks and audio books.
The commission on your sale of the book can range anywhere from 4% to 7% depending on the book or media. But let’s use conservative 5% to calculate some numbers.
From the last 10 books I’ve purchases, the average price was $23 per book. So, using this average, the commission on an affiliate sale would be approximately $1.15 per book sold.
If the reviewer has good search engine rankings on their website, it not uncommon to drive more than 100 visitors per day to a book review. Let say that that 5% of visitors that read your remarkable review purchased the book via your website. Over a month you could earn $1.15 per sale x 150 sales (5% of 3000 visitors for a month) $172.50 per month or $2,070 per year, only on one 1 book review! Imagine if you had 40 great book reviews!!!
If reviewers or bloggers have an extremely popular website, tonnes of web traffic and the audience loves their great reviews, this ‘expert’ could be rolling in the cash. Reviewers could have 100’s of books reviewed and all collecting commission passively, while they sleep!
So yes, money can be made, but you need to know how to make a great website like a blog and how to drive traffic to it.
I’m on a budget and can’t afford to buy all these books
As a person who is super passionate about personal growth, I know how important books are to becoming great in life. They can be expensive if you read a lot of them, but so rewarding. It’s worth it to me even if I wasn’t making money from them.
If buying books is too costly to start on your review writing journey try these tips:
Borrow it from the library – Just because you’ve reviewed I, doesn’t mean you must own it. Most libraries have range of popular titles that are still hot sellers on the web. You can even ask the library to order it in.
Buy it for the read and then resell it at a small loss – I had a friend who would buy hardcopy books and then resell them straight after he read them at a loss of 5-10%. The tip is to keep the books in mint condition for resale value.
Read other reviews and speak to people who have read the book – This is desperate call and not on my high recommendation, but you can learn a lot about books by reading reviews and asking others who have read the book. The danger in this is an unauthentic review, which would not rate high for your website. Beware of this method.
Which books should I review
If you have a niche website, make sure the book is related, as I’m sure a book about basketball may not be popular on a meditation website, if you get my drift.
Secondly, log on to your favourite eBook website, type in your key words in the search and see what top 5 titles appear.
Thirdly, try to pick books with between a 3.5-5 star review. Don’t bother with below 3.5 star books, they are just a hard sell.
Pick a book you’d love to read. If there is something that interests you and you find it to be a good read, then someone else with likely find it a good read too.
Check out one of my hot selling book reviews on one of my websites.
How can you learn to sell books online?
Like I said above, if you’re already reading books, half the job is done. Just get your opinion on the web page and start to Add More Income today.