You might think that opportunities for non-fiction authors are drying up. That the abundance of free information on the Internet has not only damaged the book business, but made it impossible to turn a profit on information products. We’ve all heard stories about information websites that struggle to monetize their content.
Who makes money on non-fiction any more?
The truth is, there’s a new information product BOOM going on right now on the Internet. And authors who package their information in the right ways are able to make huge profits from their work. It’s important to understand that nowadays, the book is not the only way, or even the most important way to package your information. Imagine if you could take the same information you would use to write a fourteen dollar book — and produce a product that fetches two hundred dollars!
That’s what the new information boom is all about — packaging instructional information in ways that go “beyond the book.” Online courses, webinars, teleseminar series, live webcasts, group coaching…these are the new ways of packaging information — and the income potential is greater than ever before.
Let’s look at some numbers. In the old days, if you packaged your information as a book, you might get $1 to $3 per book sold as the author. If you sold 10,000 copies, you might make $30,000 at best.
If you were to package the information in a video course, you might be able to sell that product for $99 online. If you sold only 1000 courses, your income potential is almost $100,000. Subtract anywhere from $2,000 to $5,000 for the production and delivery systems and another HALF as payouts to your sales partners…and you’re still way ahead of the old model at more than $40,000 profit. And you can still write and publish that book as essential reading for your course participants!
Of course, this is just a hypothetical example, but the point is clear: How you package and deliver your content has changed and new opportunities have opened up for authors that make this a boom time for information products and savvy authors.
Christopher Van Buren is president of LaunchMoxie, a launch service for information products that helps drive the maximum results from product launch campaigns. See www.LaunchMoxie.com.