The Book “Is” the Store!
MultiMedia eBooks are not just about providing a richer consumer experience, greater satisfaction, and loyalty. Properly done, they are a natural fit for upsells and cross-sells, and may be the best platform yet to sell more premium products.
The idea of a publisher referencing other products is nothing new. Recommended publications, either by the author or the publisher, are commonly listed at the end of most books. The problem has always been to get the reader to notice and, more importantly, to take action.
First, a little recap of the “old school” problems just alluded to.
Problem #1: Readers actually have to read those lists of other publications, buried at the very end, actually beyond the end, of the book. Few bother. But for those who do, they have to write down what they’re interested in, go to their computer, Google it (or just go to Amazon and search for it there) buy it, and wait for it to be shipped.
It might not seem like a big deal, but it’s actually HUGE. The active person, easily distracted by dozens of more pressing issues, is more likely to say, “I’ll do that later.” Most of the time, later never comes.
Problem #2: Not only are these upsells buried at the back of the book, they are unimaginative in what they offer. This is mainly due to book publishers and authors limited by traditional, old school publishing ideas.
In other words, think beyond books and CDs and audiotapes. Think about products and services the customer would likely be interested in…and then give it to him in an immediate, digital download form.
Contemporary consumers are very demanding. Not only do they want more of what they like, they want it now, and they don’t want to jump through hoops to get it. So if you make them work, you’re going to lose the sale. Simple as that.
Watch Our “Book IS the Store” Apps in Action
Now…Enter the Amazon Affiliate Program…
As you know, Amazon is the largest bookseller in the world (regardless of what Barnes & Nobles says).
But get this…
80 percent of Amazon’s revenue comes from its affiliate program. What that means is that the overwhelming majority of Amazon’s revenue comes from people selling other people’s merchandise, and not just books! 80 percent!
Here’s where it gets a little weird–fascinating for me–and where Amazon’s “schizophrenia” really shows. As an online retailer, they are the undisputed kings of affiliate marketing. But as a hardware/software manufacturer, i.e., the Kindle, they went the closed, proprietary, black box route. And history will show within six months–well actually the writing’s already on the wall–that this approach may have been remarkably short-sighted.
What does this have to do with a book being a store?
To begin with, it demonstrates how not to build an eBook reader device.
Let me put my neck on the line here.
Within a year, Amazon will have a true tablet device similar to the iPad. This will happen not by choice, but by consumer demand for all-in-one solutions instead of stand-alone devices that require the consumer to carry around another piece of hardware.
Now the good news for authors, book publishers and just about anyone who wants to make money from MultiMedia eBooks is…
You don’t have to create all of your own content to make money. What this means is that you don’t have to create all the additional products that the customer would find attractive after or “during” their read of your MultiMedia eBook.
Even today, if you wanted to, you could join the Amazon affiliate program–it takes about ten-minutes to sign-up–pick the products you feel your customers would like, and embed links to them in your MultiMedia eBook wherever you like. And whenever a reader clicks one of “your” links and buys something, anything on Amazon, you get a commission.
And it doesn’t stop with Amazon. There are other affiliate portals out there that generate billions in commissions. My favorite is Clickbank, but there are dozens of them. And I’m yet to find a single one who charges even a penny to sign up.
Just don’t get carried away. Don’t change the theme of your book to fit the biggest affiliate opportunities. And believe me, you’ll be tempted once you see the kinds of commissions you can make on Clickbank and other affiliate portals. Stay in your area of expertise, and if you don’t have a higher value product–find someone who does.
And just like that, your book just became a specialty store!
For a list of affiliate directories, check out Affiliate Scout.
Remember, you don’t have to create everything you sell online. In fact, if you try, chances are you’ll give up out of the sheer magnitude of effort.
But if you already have a vast inventory of books ready to be digitized, go for it. Just make sure they’re MultiMedia ready so you can upsell your own stuff, and that way, not pay any affiliate commissions.
So for you authors and book publishers out there, greener pastures await you. All you have to do is do a little non-stressful research, and jump in. Whether the “book is the store” concept includes your stuff, or someone else’s, or a combination of both, is entirely up to you.
Happy hunting!
John David Balla
co-founder, Cathedral Rock Publishing
