How to increase the sales of my book

In just 3 months, it generated over $100 in revenue.**

I wanted to share my journey for two reasons: to potentially assist others in self-publishing their own books and to receive feedback to enhance my marketing strategy. I envision that there are others facing similar challenges.

Let's dive into the financials, time spent, Key takeaways and the Challenges to address behind this product.

Finances

First, let's take a look at the financial overview.

💳 Expenses

🔹 E-book creation:

· Book cover: $ 0. I used Adobe Express with 30 days of free trial.

· ChatGPT: 20 $ a month. I leveraged AI to generate the chapters of the book, ensuring that no critical topics were overlooked during the content creation process and to refine the English, as it's not my native language. I also used to help me with copywriting of the web. If anyone is interested, I can share my Python code for outlining the chapters calling the API, but you can also directly ask chatgpt.

· Kindle KDP (Kindle Direct Publishing): order author copies: 10 $.

🔹 Web creation:

Domain: I got a com) / .org /.net domain for just 1 $ the first year.

Carrd.co subscription: 19 $ (1 year)

🔹 Marketing:

Promoted post on reddit: $30

Paid ads with google ads: $30

💰 Revenue

🔸 Sales: $102

💸 Net Profit: ~- $ 18

I initially thought the sales for this e-book would be quite modest, maybe only 3 or 4 books. However, the fact that I've sold more than that so far is a pleasant surprise. Even though the overall numbers may still be considered "peanuts" in the grand scheme of book sales, it suggests there could be more demand for content on digital asset custody than I had originally anticipated. This is a good learning experience, and I'll look to refine my marketing approach to see if I can reach a wider audience interested in this topic

🔹 Time Spent

Next, let's review the time invested.

📖 Writing the e-book: 40 hours

🌍 Website + Stripe integration: 10 hours

📣 Creating promotional content: 10 hours

⏱️ Additional marketing efforts: 5 hours

Total time spent: 65 hours

As you can see, I dedicated more time to writing the e-book itself than to marketing and distribution.

I spent relevant time to marketing because I though that a successful product launch requires a robust marketing effort. Many e-book authors overlook this crucial aspect!

I utilized three sales channels:

· Amazon: I found that there were no books specifically about digital asset custody, resulting in strong positioning in Amazon searches. Additionally, my book immediately secured the top position in Google searches for "digital asset custody book." However, despite achieving 50% of sales in the UK, I have not received any reviews globally. Sales distribution for this channel: 20% physical book, 80% ebook.

· Twitter: Daniel_ZZ80. With only 46 followers, the performance on this platform has not been optimal. I am beginning to write posts related to digital assets to increase visibility.

· Gumroad: Lockeyyy.gumroad.com. I offered a discounted version of the ebook, but have not yet made any sales through this channel.

Key takeaways:

· The process of creating this e-book was extremely fulfilling, and while it has garnered overwhelmingly positive feedback from friends and colleagues (not considered as sales), it has yet to receive any Amazon reviews ☹.

· Kindle KDP proved to be ideal for a rapid go-to-market strategy.

· AI is an excellent tool for generating ideas and providing access to global audiences with perfect grammar. Otherwise, I would need to hire a translator, which can be very expensive.

· Despite offering a full 30-day money-back guarantee, leading me to believe that the quality of the content is indeed good.

· I have gained valuable insights for future technical books.

· Although the current financial balance may be negative, I anticipate reaching the break-even point within one month, and this has now become a passive income stream. However, I recognize the need to regularly update the content due to the rapidly changing nature of this field.

Challenges to address:

· Is the timing for launching this book appropriate? In other words, is the world of digital asset custody a trendy and interesting topic for the audience?

· What is causing the lack of sales through Gumroad?

· Should I seek assistance as my marketing efforts have not yielded results?

· Why are there no reviews on Amazon?

· Why are sales primarily concentrated in the EU with only one sale in the US, which is my main target market?

Feedback is appreciated.

If you're interested in learning more about my approach, feel free to send me a direct message.

A bit about my background: After dedicating my entire career to the banking industry, I explored various side projects. As an IT professional, I have now transitioned into the digital asset realm. After three years of intensive study, I recently published my first book on digital asset custody.

I hope you found this post informative. Cheers!

P.S.: I'm currently in the process of launching two more books using this system. 😊