Monday, 25 July 2011

The Advantages of the letter 'e'

The Secrets of ebooks & eaudios Demystified 

The power of the 'e' book (and no, I didn't spell it wrong) in today's market is absolutely fantastic, as now you can take the traditional book or the audio book and by adding the letter'e'to the start, create a whole new product - the ebook & the eaudio.

This is fantastic when it comes to upselling and packaging, as in a matter of seconds you now have 4 products instead of 2. Remember the power in selling a book for profit is in the perceived value of a package and anyone would think a package with 4 things in it is a lot more valuable than a package with 2, even if in reality it may involve little more than 1 hour of additional work the first time it is produced and no additional work thereafter. People will still be willing to pay more for it as there is the perception they are getting more for their money.

Better yet, gone are any of the production costs as each product you sell will cost you nothing to produce, nothing to distribute, can be delivered instantly, keeping those customers who want everything now and don't have time to wait extremely satisfied. And if your customer is dissatisfied they can return the product instantly as well. You also don't lose any money on goods returned damaged, or on postage or handling to get them shipped back.

Better yet, you don't need to collect the money. One of the only disadvantages of eproducts is that they can only be bought/used online. Hold on, did I say disadvantage?... I meant major advantage. If they can only be bought online, this means that not only are you not responsible for the production or distribution of the product, but also you are not responsible for transacting the sale. It is all done for you. What could be better than that?

When you wake up each morning, there will already have been money deposited into your bank account and all you have done to earn it was have a good night's sleep. That is passive income working at its best, and eproducts such as ebooks and eaudio have now made it possible for anyone to make a living this way. Imagine never having to produce or distribute another product again. Imagine never having to ask a customer to part with their cash.

Imagine a fully automated system where, basically, you do nothing and you get paid. Imagine the benefits of doing that on a larger scale.

For example: If you do nothing to sell one book for $30, you earn $30. But what if you did nothing to sell 10 books? That would be $300. With no cost of sale, that is pure profit. Now imagine you did that every day of the month x 30 days - $9000! Now imagine how much extra time this would create to fit everything else you have to do into your busy day, like working a 40 hour work week. Hold on, $9000 a month - do you get that per month for working a 40 hour week? If not, imagine getting $9000 a month and never having to work another day in your life again. Just imagine. 

Now yes, there are some costs involved, like the initial set up of a website plus ongoing hosting and domain name registration or Adwords campaigns, but even if that amounted to $500 a month do you thinkyou could spare that out of your $9000? Please see the diagram on the following page for the pros and cons of the 'e' Product. Work out what the requirements are for your target market and check the 'e' Product meets your requirements.

Printed Book
Audio Book
The'e' Product
Suitable for'The Dream Book':

Suitable for 'The Passive Income Book':

Suitable for'The Credibility Book':

You can physically hold it

You can give it away

You can buy it in a bookstore

You can buy it online

You can buy it in person

You can find it in a library

You can get it signed by the author

It can be obtained by anyone

There is a growing market

It is free to produce

You can keep the first copy

You can release multiple editions

It can be any size

It can be changed quickly and easily

It can be delivered instantly

It can be read online

It can be read while travelling on the train

It can be read while driving

It can be read in any location

It is suitable for any target market

There is no risk involved in production

There is no risk involved in distribution

There is no cost involved if returned

There is no need to be actively selling your book

There is no need to be actively distributing your book

It can be distributed anywhere in the world

You don't need to keep stock on hand

It is the most popular way to publish a book

Is it the right format for you?

Is it the best format for your subject matter?

Is it the best format for your target market?


Remember, an eproduct may not bring you publicity, but it will certainly make you a lovely passive income and if that is your dream, this kind of book could prove to be a great dream book too.

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