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Book Marketing Tools

Ep 145: “Million Dollar Book Business”

Welcome to the 145th episode of The Author Hangout, a podcast designed to help authors, especially self-published and indie authors, with marketing their books and improving their author platform. Authors struggle with various aspects of marketing and we are here to help!

Million Dollar Book Business

In this episode, Shawn shows you the entire setup to turn your book into a million dollar book business. No, it won’t happen over night, but Shawn lays out a solid plan that you can start taking the first steps on today.

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Featured Quotes

“If you were to sell a million dollars of your $3 book and assuming that you get 70% margin on that then you’re going to actually have to sell 476,190 books. Crazy, right? The reality is though is that when you look at the value ladder you are able to enjoy the benefit of those initial set of subscribers that you’ve paid for and acquired. They actually pay for more and more than just the first product.”

“We have not done a great job as authors in really thinking through what exactly do our audience members want. What is the pain that they really desire? What is the desire that they have when they read our fiction books that would make them want to participate in a one day, three day, week long even at some luxury place? What is it that they really want? The reality is that we don’t do a great job at getting the big picture around the real desire and need for our audience. “

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  • Excellent segment, Shawn. And thanks for responding to my email by using it in the opening of the podcast! Great info & YES! A webinar is definitely warranted.

  • johnaberle

    Shawn, you created a fascinating podcast, “Ep 145: ‘Million Dollar Book Business.’” I really liked the job you did on the “value ladder.” This is a concept that I think of as a marketing funnel or product funnel. Gina Gaudio-Graves of Directions University describes it too as a vortex. You made it real for authors, I think.

    I recently wrote a post that takes the planning to a deeper level. If you really want to make a profit, you need to realize that in the higher levels of your value ladder where you are creating webinars or virtual products, they are 100% profit. “Why Does My Bank Balance Never Match My Webinar Sales Income?” https://www.askjra.com/ae119
    #booklaunch #theauthorhangout

  • Kathrynclang

    Thanks for the value ladder tips. I’ve talked about audio versions but haven’t followed through. That’s going to the top of my to-do list.

    Do you think it would work for non-fiction as well as fiction?

    • Book Marketing Tools

      It will probably work even better for nonfiction!