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Expert Answers to Biz Questions
Listen in! Pick up some expert advice to a reader's question that we selected from CyberSchmooz.
5 Tips for Earning Money by Selling Books
Selling books can be a good way to make money. It is also one of the business ventures that are so easy to set up. Books don’t require much capital, and you can sell them online without setting up an offline store. However, your success is dependent on a couple of factors. Below are some of the tips that can be helpful when selling books to earn money.
Find Profitable Topics
Don’t start selling books before you figure out what readers are looking for. You can sell books in almost any niche, but there are those topics that will attract more readers than others. Checking the best sellers on e-commerce sites can be a good starting point when researching on the best topics. You can also get some ideas by doing some keyword research. Focusing on topics that are high in demand increases your chances of making more sales and profits selling books.
Check the Competition
Once you have your niche and topics in mind, browse through online stores, and check the performance and prices of similar books. This should not be done with the aim of copying what others are doing, but to get an overview of what’s already on the market and how customers are responding. This is especially important for those who would love to write their own books.
Write or Buy
You have two options when it comes to actual selling; you can sell books that you have written or books written by others. The books you sell can be used, new, or even ebooks. Some used books hold their value very well and thus you can get some good bucks from them. Buyers looking for discounts may also choose used over new for lower prices. When selling books that you did not write, ensure you have the resell rights to avoid getting in trouble with the author or their publisher. When writing your own, make sure you give your readers valuable content. This is the only way you are going to make more sales. Good content will attract referrals and positive reviews for your book.
Price Appropriately
If you set your price so high, you are unlikely to make good sales. For books you have authored, charge based on the value of the content as well as price ranges for books in the same niche on the market. Do a little research before listing books for sale. However, don’t let the price be too low that you barely make any profits. You should check on that too when setting the prices.
Market Extensively
If you want to sell more books and make a substantial income, you need to market extensively. Find ways to make the target customers aware of the availability of the products you are selling. There are so many ways you can market the books you have for sale. For instance, you can post them on social media pages with brief descriptions. If you don’t have a strong social media presence, it’s never too late to create one. Create pages or profiles and get people to like and follow you. You can start by inviting your friends and then attract more people through contests and giveaways, sponsored posts, and collaborations with other business owners. You can also consider email marketing especially where you have more than one product to offer. Ads can be good too if you have some money to spend on marketing.
Marketing should be a continuous process if you want your business to be successful in the long-term. Keep your audience engaged, and they will keep buying from you. You don’t have to tell them about your products every day; you can keep them engaged with videos, quotes, and memes.
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