Welcome to the 115th 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!
Author Answers: Best Marketing Activities
We are introducing a brand new segment called Author Answers. We’re taking questions from authors like you and answering them directly on this podcast. In this episode, we’re answering a question from author Brennan McPherson about the best marketing activities that product long-term results.
Want to have your question answered on a future podcast episode? Call (605) 299-BOOK – that’s (609) 299-2665, and leave a message saying your name, your book title, and your question (2-3 sentences max).
Listen to the Show / Podcast
“The last thing I’ll say is this: write more books. Short-term investment for a long-term benefit. Let’s play semantics about the word “short-term.” In your lifetime, over the next 50 years as an author, and 75 years after you die, is 1 year short-term? Yes. I think so. And since I’m answering this during the month of NaNoWriMo, write that next book. Hugh Howey said in Episode 12 of The Author Hangout, “I think it was my seventh or eighth published work that took off and allowed me to quit my day job.” Hugh Howey. Seventh or eighth published work. Don’t wait another year to write your next book.”
“The one piece I wanted to talk about is lifetime value (LTV). It’s a concept that not many authors are thinking about or talking about, but it is that one subscriber has the potential to become a lifetime buyer of all the products that you produce. Let’s say that you ultimately pay 50 cents per subscriber through either a giveaway or Facebook ad or social promotion. Then in that first year, that one subscriber buys one of your books. You get $2.09, which is a 400% return on your money. You spent $0.50, you got $2.09 from one subscriber. But what if you write one more book in the next year and the next year and the next year and the next year? The lifetime value – that is, the value of the entire lifetime of that particular subscriber – could be well over 1000% within 3 years.”
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Get caught up on the other episodes of The Author Hangout that you may have missed:
- Ep 145: “Million Dollar Book Business”
- Ep 144: “Network Net Worth”
- Ep 143: “Learning to Hack Learning”
- Ep 142: “Making Of The Perfect Optin”
- Ep 141: “Coaching Breeds Author Success”
- Ep 140: “Gumroad for Authors”
- Ep 138: “Goal Setting Check-in”
- Ep 137: “Relying On Others”
- Ep 136: “Honest Conversations on Book Marketing”
- Ep 135: “Recognition of Hard Work”
- Ep 133: “Making Money Fast?”
- Ep 132: “Book Marketing & Book Launches”
- Ep 129: “Author Answers: Using KDP Select or Not”
- Ep 126: “Media Interviews & Book Marketing”
- Ep 124: “Goal Setting for Authors”
- Ep 121: “Authors Answers: DIY Blog Tours”
- Ep 119: “Author Answers: Choosing Comparison Titles”
- Ep 115: “Author Answers: Best Marketing Activities”
- Ep 113: “Writing Faster, Marketing Smarter”
- Ep 111: “Building Book Launch Teams”
- Ep 110: “Book Launches and Distribution”
- Ep 107: “NaNoWriMo, Writing, and Marketing”
- Ep 104: “Connect With Other Authors”
- Ep 099: “Maximizing Book Promotions”
- Ep 097: “Kindle in Motion & More”
- Ep 086 – How To Create an Irresistible Opt-In Incentive