Different models for epublishing
The digital world has changed the game of publishing and most publishers are finding it hard to cope with the change that has happened. However, every change throws up an opportunity, and those who are creative enough to seize the opportunity end up winning.
The thing with the digital world is that you are not only competing with other publishers but also ebook piracy, indie authors, do-it-yourself publishing and the likes. And thus, to be successful with epublishing, you need to devise a model which gives readers access to your books for free or at a minimal cost without putting a strain on your profits.
As always, BookGenie keeps looking for innovation in the digital publishing world to bring you valuable advice which you can use. Here are some alternative business models for epublishing which you could think of exploring:
The free model
Taking a leaf out of websites and software products, the free model for epublishing entails giving something for free, and then, when the audience is hooked onto it, giving a premium product for a price. In the case of publishing, the free product could be a simple ebook while the premium product could be an enhanced ebook with embedded audio and video or an alternative storyline.
The catch with the free model is to offer a free product which has enough firepower to hook the audience and is limited enough so that the audience is coaxed into buying the premium service. Another possibility in the free model for publishers could be giving away an application related to an ebook for free and then charging the reader for the ebook. This could work particularly well in the case of children’s books.
Advertising model
This is perhaps the most obvious of innovations when it comes to epublishing. Advertising supported ebooks could work very well, just like applications on Ipad and other devices, the bulk of which are advertising supported. The idea is to innovate in the field, so as not to cause a nuisance to the reader. For example, if there’s a book involving sports cars, various sports cars brands could be approach for placing contextual ads in the storyline.
Video ads are also a possibility since it is digital publishing we are talking about, but the video ads have to be crafted in a way which connects with the storyline and do not cause intrusion.
Promotional Models
This epublishing model is a very niche model and applies to ebooks which have more than one series. These models entails giving away the first book in the series for free, and when the audience is hooked on to a story line, give the others in the series for a price. A perfect example for this kind of model is something like the Harry Potter series or the James Bond series. Of course, there is a certain risk involved, but then again, profit is the reward for risk taking. This can also be use for children’s text books which may contain stories or other interesting stuffs.
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