We all know the importance of having as big a pool of potential customers as possible because it directly correlates with the increase in potential sales. The issue here lies with consumers who are now predominantly ‘spending-conscious’ as opposed to ‘price-conscious’ as in the past. So how do we progress past this hurdle?
It’s simple. Allow the consumer to browse/read as much of your book/e-book as they wish for free and to then decide whether or not to make the purchase.
You may be saying right now, “That’s CRAZY! LUDICROUS! NEVER-GONNA-HAPPEN-BUDDY!” But looking at consumerism today, free trials work differently compared to the days of my parents. Back then, free meant you had to endure the lengthy contract period or buy something first to receive your ‘free’ incentive. Today it is a completely different matter.
“Free”, today, means no risk for the consumer and in turn high demand for your work. Regardless of the price you charge, you’re creating a mental barrier that a lot of people won’t bother crossing. “Free” in the contemporary sense however enables potential consumers to move past that decision and discover your books/e-books risk free (at no loss to them).
Don’t get me wrong. I’m not suggesting you give your books/e-books away for free via download or however many print copies some may give away to reach the ‘best-sellers’ list. But remember, each of these are potential sales lost and it’s only fair that you are paid for your hard work. What I am saying is, there are other ways to achieve these results.
This is partly the reason MyLi streams your e-books. It means that no copy of the e-book is retained on the users’ computer device after reading it unless they download a copy, for which they will obviously need to pay. It’s all similar to listening to the radio, hearing something you like and retaining a copy if you buy one.
Last but not least, free e-book streaming doesn’t mean your revenue is solely dependent on converted book/e-book sales. Publishers will receive PPV royalties from their material featured on MyLi and therefore gets paid according to the performance of their books.
First-Class win-win situation! What could go wrong?!