A crucial insight for authors to increase revenue opportunities

Virtually every client I work with has similar goals.

  1. Write a book
  2. Market an existing book
  3. Be booked to speak
  4. Make money …. and lots of it
  5. Influence others with the written and spoken word

These are all achievable goals for experts who are willing to put in the time, money and effort with laser focus on the outcome; selling books.

You might be wondering why the great majority of my clients have similar goals. One, I'm clear on what I offer… are you? Two, I'm clear on who I can best serve… are you? Three, it's my passion and I have a track record of success in these areas… do you?

The more you know who your market is, what your expertise is and you are in alignment with the products and services you offer, the better.

The Plan

It's important to have a plan around your outcomes. Otherwise, like many frustrated experts who write books, you end up spinning your wheels.

Recently, I wrote a post about what to determine before anything else. My recommendation is to read that post in addition to this one.

Once you establish who you're writing for, where they hang out and how you plan to reach them, you can move into a really great way to generate revenue while creating massive value.

Conversion funnels

A conversion funnel is exactly what it sounds like; a way to convert tire kickers into subscribers and subscribers into buyers.

In a recent consulting call with a client, we mapped out a first level conversion funnel she could create to generate leads and revenues from those who read her book.

The image of the simple funnel is just that, very simple. As you move forward you can get much more complex in what you're doing, but start with something simple and manageable.

One reason people give up on funnels is due to complexity. To start, a two step funnel is perfect.

Set, Go and Drive

I have four main funnels in place. Each begins with a gift that is specific to book marketing and speaking (or both). The gift for each funnel is of extraordinarily high value as is the first level offer and every offer that follows.

Once the funnels are set up, you can pretty much set and go. From there, you drive traffic to the opt in page. This is done in a number of ways including the very thing I am doing in this post, adding links throughout my post. There are plenty of other ways, but for the purpose of this post, we will stay the on target with getting you on board to create funnels.

You do have to test things, so don't assume you can throw something up online and the floodgates will open. With the right testing, analytics and tweaks, you will have a winner.

Value … ALWAYS

I'm a firm believer is giving incredible value to my community. All of my conversion funnels create high value every step of the way.

Here's a look at first level one of my conversion funnels. It's for Cheat Sheets and Checklists for Profitable Speaking gigs.

When someone opts into this offer, they are then taken to a small up-sell offer. This gives them a chance to “test the waters” for a very minimal investment. The program they can get for the low cost once sold for 10X the amount.

Why would I do this? To turn a subscriber into a buyer. It's simple mathematics.

Click here to get the Cheat Sheets and Checklists or click the image.

Before we continue

Let's get one thing out of the way before you continue reading this post. This particular post is only for authors who want to generate revenue. If you're writing simply for the joy of writing, fantastic. This is not for you.

However, if you're they type of author who loves writing AND you want to generate revenues from your efforts, this is for you.

Now that we've gotten that on the table, let's get on with the topic at hand; authors making money.

The client I mentioned is an expert on wellness. The information I shared with her could apply to just about any genre whether it be pets, relationships, Feng Shui, parenting, entrepreneurship, or investing. Just about any topic or genre works.

The many ways that an author can make money are…

  • Book sales
  • Speaking fees
  • Selling from the platform
  • Consulting fees
  • Product sales

A book can be a “feeder” into all of these revenue streams. A feeder can be the first level of a conversion funnel.

Start today to create a funnel

Years ago I had a mentor who encouraged me to get my first funnel done before creating a second, third or fourth.

These sage words made a huge difference to the success of my business. Why? First, I learned a lot with the first funnel. Two, rather than simply being in creation mode, which can make us believe we are being productive, it's essential to be in implementation mode. Third, you are securing your financial future as an author.

Here's the thing, when you have funnels in place, no matter what's happening with the economy, having various information products such as books, eBooks, eReports, transcripts, and MP3’s you can put into aspects of the funnels, can make a huge difference to your bottom-line.

You can go from a so-so revenue stream to one where you can generate thousands upon thousands of dollars each and every year (for some of us, monthly) in passive income.

Announce Your “Thing”

Once you have the elements in place and you've been building your list, you are in a great position to announce local book signings, interviews, podcast shows, new blog posts that relate to your book(s), new releases and so much more.

If you have yet to create your first funnel, isn't it time to get in the game? You may be shocked at how much opportunity you are literally leaving on the table by not having this in place.

Time Factors

I often hear this from authors, “I just don't have the time or knowledge.”

My response, “Make the time. If need be, hire the job out to someone who can get it done lick-itty-split.”

Time management is crucial to an author's success. If you struggle with this, join the Book Accelerator program members live on Monday, July 24th at 11 a.m. Pacific for a private training on productivity.

During this private training, I'll share my best strategies for productivity that lead to higher output and increased profits.

I'll also be going into more detail on conversion funnels.

Click here for more information and to join.

 

 

 

 


 

Comments

  1. Hopefully one day, I’ll be here.

  2. Great post, Kathleen!

    I love that you ‘qualify’ and let people know who this post is for – “Let’s get one thing out of the way before you continue reading this post. This particular post is only for authors who want to generate revenue. If you’re writing simply for the joy of writing, fantastic. This is not for you.”

    This is actually really helpful for some folks that might not be sure. They may be on the fence and writing for the fun of it, and then feel pressure to ‘have to’ generate revenue. By pointing out that the alternative (writing for the sake of writing and getting joy out of it) is absolutely fine, it can relieve some pressure people may put on themselves.

    Thanks!

    • Kathleen Gage says:

      Thanks Paul. It took me a few “reminders” from folks who write simply to write to “get it.” 🙂

  3. I added this to another post the other day. Make sure your fuel is not only suckling the data you wqnt, but removing those who won’t be among your ideal targets.

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