Did you know that you can make money by giving away free ebooks? As impossible as it sounds, it’s true. Giving away free ebooks probably doesn’t sound like the best book marketing tactic, at least not from a financial point of view. However, this is exactly the book marketing strategy that famous authors have employed with great success.

Whether you are self-publishing or taking the traditional route, you are going to encounter people that will encourage you to give your own ebooks out for free. If you are wondering whether the idea makes sense as a book marketing strategy, you are not alone.

 

5 Ways to Make Money by Giving Away Free Ebooks

Don’t get me wrong, you’re right to be anxious about the idea of giving your ebooks for free. After all, you are essentially losing a sale. Does that mean that giveaways are book marketing strategies that only rich, successful authors can afford to undertake? Absolutely not. There is a rational reason that compels authors to give their books away for free, and it’s often times centered around money to be made. Giving away free ebooks will benefit you in more ways than one. ChatEbooks lists down its benefits which include the following.

Free Publicity

Authors who choose to give away free ebooks are basically looking at the big picture of book marketing. Yes, they are losing a sale today. However, by giving their books away for free, they are also introducing readers to their work.  Essentially, these freebies induce interest in new readers by giving them a sneak peek into the quality of your work. If the small taste of your content can get them hooked on your style, you can count on them to support you financially in the future. The best book marketing strategies focus on introducing readers to new authors, saving the financial aspects of marketing for the future.

Free Marketing

Even though you’re giving your book away for free, it doesn’t mean you cannot get something back in return. It has become the norm for authors to ask readers to make contributions on social media as a means of paying for free books. For example, the “Pay with a Tweet” strategy is especially popular. This is where readers must send automated messages on social media in order to gain access to a given book for free. Some authors will even ask readers to follow their accounts on Twitter in order to gain access to their books for free. With the right strategy, there are ways you can leverage giveaways to acquire free book marketing from your readers. Ultimately, more book marketing = more sales = more money.

Donations

As previously stated, just because you are giving your book away for free doesn’t mean you cannot get something out of it. One popular method of making money in this way is to give your books away and then ask readers to make donations if they like what they’ve read. This approach is popular because it works. Readers appreciate quality and they will be more than happy to donate money to you if they really appreciate your stories.

Website Traffic

Free giveaways are an effective book marketing tool for attracting visitors to your blog/website. All authors are encouraged to create websites in order to connect with fans. One way to boost interest in your website or blog is to give your books away. Not only will you begin attracting traffic in notable amounts but you can also earn big from advertisement revenue in the process. This is probably the most common way of making money with free ebooks.  The key is to choose the right affiliate program. Affiliate programs like Adsense provide lucrative opportunities to make money for individuals that have mastered the ability to draw crowds to their websites.  And it’s nothing like offering something free to draw a crowd!

Branding

Giveaways are a great branding tool. The most difficult obstacle to overcome as a new author is anonymity. Because people do not know you, they cannot buy your book. Giveaways are effective because they eliminate the risk associated with the unknown. Readers do not have to worry about wasting money on an author whose books they might not like. With freebies, they are more likely to give your work a chance. In the long run, it’s a great way of essentially spreading the word about your book and making your presence known in the literary circles that matter. Book marketing doesn’t get more effective than this, especially for people building their brand from scratch.

It is important that you approach the freebie book marketing idea with a planned out strategy. Do not give too many of your books away. Otherwise, people might stop buying them altogether and instead choose to wait until you put them on the market for free. Do not expect to succeed overnight. This is a long-term strategy that can yield great rewards if done right.

 

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