Michael Evans, industry expert in the creator economy and author business, discusses how subscriptions can expand your author business, tips on encouraging readers to buy direct, and the positive future for authors in the creator economy. He shares insights on leveraging subscriptions for authors, including different models and strategies for success. Learn about Ream, a platform for creating paid memberships, and valuable resources for authors interested in subscriptions.
Read more
AI Summary
Highlights
AI Chapters
Episode notes
auto_awesome
Podcast summary created with Snipd AI
Quick takeaways
Authors can diversify revenue streams and control customer data by selling direct through subscriptions.
Limited-time offers and exclusive content can incentivize readers to join subscription-based models and buy directly from authors.
Creating genuine scarcity and offering unique and exclusive content can effectively market direct sales and attract subscribers.
Deep dives
Shifting Mindset for Direct Sales
To sell direct, authors should not abandon retailers but consider the benefits of diversifying revenue streams and controlling customer data. The mindset shift is to understand that not all readers want the same experience and that a smaller portion of the audience may be willing to pay more for exclusive content or behind-the-scenes access.
Practical Strategies for Marketing Direct Sales
Authors can leverage limited-time offers, such as opening subscriptions for a couple of weeks, to create time pressure and generate interest. Discounts and promotions can also be used to incentivize readers to buy directly. Additionally, offering exclusive content that is only available to subscribers can attract readers and make them more likely to purchase direct.
Using Real Scarcity and Exclusive Content
Creating genuine scarcity and offering exclusive content, such as special edition covers, limited-time merch, or unique short stories, can be effective in marketing direct sales. These strategies tap into readers' desire for something special and exclusive, motivating them to subscribe or buy directly from the author.
Building Technology to Support Indie Authors
The guest shares their passion for building technology to support indie authors, specifically fiction authors. They discuss the importance of keeping the long-term vision in mind and not getting caught up in short-term goals. The guest reflects on their own experience with self-publishing, including the challenges of running Facebook and Amazon ads and the importance of validating read-through calculations. They emphasize the need for authors to stay consistent, improve their craft, and focus on long-term sustainability in the publishing industry.
The Future of Subscriptions for Authors
The guest introduces Ream, a platform for fiction authors to run subscriptions. They explain that subscriptions involve readers making recurring payments directly to authors, and offer various benefits such as early access to new books, access to backlist content, bonus material, community events, and merchandise. The guest highlights the importance of trust and building a strong relationship with readers for subscription-based businesses. They also discuss the future trends in the publishing industry, including the importance of direct sales, the potential impact of AI-generated content, and the rise of online communities as third places for readers and their shared passions.
How might subscriptions help expand your author business ecosystem? What are some tips on encouraging readers to buy direct? Why is the future looking positive for authors in the creator economy? Michael Evans gives his thoughts. In the intro, marketing for multi-genre authors [Self Publishing Advice]; Same as Ever: Timeless lessons on risk, opportunity, and […]