Know What You Are Monetizing

Now that you understand the nurturing value of your book to lead your audience to the area you want to make the most impact, it is time to monetize.

Recently, I was asked to speak at an event. While mentoring one of the attendees, I noticed that she was talking about her book every chance she got. She talked about the amazing platform and partners she brought together for her future launch. I had to give her kudos because she had some amazing partners. But, when I asked about how she was going to monetize afterwards, she didn’t have a plan.

Most authors do not make the return on investment (ROI) directly from book sales.

Think of your book as a nurture tool that leads people to your high-ticket offerings. Your book is the “getting to know you better” phase. Let’s face it: there are probably many people that teach what you teach. People who hire you are going to do so because they like you! That means that you need to execute a plan for your next offering well in advance of your book release.

What is the next step? Is it a group program? Is it a one-on-one coaching program? Can you provide a free-shipping book funnel that leads to a workshop? Have you run this offering in a beta test?

One of the best plans I have seen executed was from Merrill Chandler. He built a solid audience on Facebook and through speaking. His platform was well-built before his book launch. His offerings started with his book and a low-cost workshop on building business credit. I watched him sell out a room in San Diego with his low-cost workshop, nearly 100% of the room. The workshop was content-rich and so people purchased his higher ticket program. His book was the required reading for the workshop.

He came to us to publish his book with a platform and a plan that he had already perfected. The result was that his book beat Dave Ramsey’s new book on launch day. He continues to lead people from the book to his products and services.

Link here for a video on monetizing tips with Shannon Procise, founder of Media Magic. https://youtu.be/0ZOk8XAPwqw