It’s always inspiring to see self-published authors featured in major publications, claiming that they earn six figures a year from their books. Yet we almost never hear how exactly they are able to do that. This makes it seem like a rare achievement, reserved only for a few. But don’t let your skepticism turn you away because you can do it too!
Earning an income as a self-published author may seem daunting at first, but it is completely possible. However, earning more does not happen magically, especially if you’re just starting out. You will need to plan and strategize wisely to achieve your goals.
Lucky for you, you came to the right place! In this article, we will share some of the secrets of the most successful self-published authors for earning more.
Publish Your Book in Multiple Formats
Amazon tends to favor those who publish on a regular basis. One way you can do this simply is by publishing the same book in different formats. These can be eBooks, paperbacks, hardcovers, and audiobooks.
You can even produce compilation books, companion novels, new covers, re-releases, etc. This kind of volume gives your account a higher chance of appealing first when people search for products on Amazon.
Increase Your Published Works
In addition to multiple formats, having more books under your belt does wonders for the Amazon algorithm. Get started writing more and publishing more. This will not only increase your number of products, but also your income and profits!
Learn to Promote
We don’t really just stop at being authors. As difficult as some may find it, it is still possible—and necessary—for us to learn how to promote ourselves better. Promotion is how more people come to know about your book and how you get more sales in return.
Create social media pages on Facebook, Instagram, or Twitter, and promote your books by growing an online community. You can also use Facebook Ads or similar marketing tools in other social media. Engaging with your followers will keep them anticipating your future works and make them more likely to purchase.
In the same vein as promotion, marketing will be another of your key practices for earning more as a self-published author. By letting more people know about your book, you increase your chances of securing another loyal reader.
There are many ways to improve and increase your marketing:
- Offer sales and discounts for a limited time.
- Celebrate milestones, such as your books’ anniversaries or reaching a certain number of sales.
- Host book signing events.
- Organize social media challenges.
The last one is very effective, especially if you have a big online audience. You can challenge them to perform activities related to your books and offer them a prize in return, such as a signed copy of your book.
Make a Series
Stand-alone novels are great, but turning your story into a series is how you can earn a lot more. This not only gives you more products to sell, but also the opportunity to hook more readers as the series progresses. A series allows your readers to immerse themselves deeper in the world of the stories, and they get more chances to know your characters better.
Before you know it, loyal fans will be begging to read the next installment in your series. You’ll also see more people lining up to buy official merch to support you and your series.
“Read-through” refers to how likely your readers are to finish reading your book—and buy the next installment, if it’s a series. Having greater read-through means you can make more income from the same series.
As such, when you write and publish your book, implement these vital techniques to keep your readers coming back:
- Allow pre-orders so your readers can commit to reading the next books in your series.
- Write your ending in a way that leaves readers wanting more.
- Ask your readers to follow you on Amazon so they can stay updated on your latest releases.
Implementing these strategies will make your readers more likely to remain loyal to you and your books, as long as you keep giving them high-quality releases. This also builds a good foundation of support, guaranteeing that people will be waiting for your next book.
Perhaps the final and most important step to earning more as a self-published author is to never give up. Sure, it might sound cliché, but it’s also very easy for first-time self-published authors to compare themselves with others and lose confidence. But keep on consistently practicing these techniques, and you can be earning much more as a self-published author.