How Giving Away Books for Free Boosts Passive Income

Have you ever noticed that successful entrepreneurs like Tony Robbins, Grant Cardone, and Lewis Howes give away books for free? You might be wondering why they do this and how they make money by giving away books for free. The truth is, they actually make millions of dollars with a well-kept secret that not many people talk about. They make more money selling their books this way than they would on Amazon.

Whether you've published a book or journal or you're aspiring to become an author one day, this blog post might be one of the biggest game changers for your passive income. First, let's look at two scenarios for selling a book and run the math together.

Scenario 1: You offer your book just on Amazon. Every time you sell a book, you earn royalties. For simplicity's sake, let's say you make $5 in royalties. If you were to sell 1,000 copies a year, that's $5,000 in passive income, which is not too bad. But now, let me show you how you can literally earn a lot more than that.

Scenario 2: When you visit Tony Robbins' or Grant Cardone's page, you'll see that they offer a free book; all you have to do is cover handling and shipping costs. So, how do they actually make money with this model? Let's break it down.

When you land on the page, you might be skeptical, especially if you've never heard of the author before. You see some social proof, videos, and if you're like me, the first thing you do is go straight to Amazon for a price comparison. You realize that the free book offer is cheaper than buying it on Amazon, so you decide to buy it.

Next, you enter your credit card information for shipping, and what do you see? An order bump. This is a psychologically interesting tactic. Since you've already entered your credit card information, you're more likely to purchase additional items along the way. You might purchase the order bump or skip it, but let's see what happens next.

You're presented with a one-time offer, and if you decline, there's another offer, and then another. This process significantly increases the chances of making more sales. Imagine if 20% of people opt for the first order bump, 10% take the first offer, and 5% take the second offer. Do you see the magic here?

But wait, there's more! If you're on the checkout page and decide not to purchase anything, a pop-up appears, directing you to purchase the book on Amazon or Barnes & Noble. This clever strategy builds trust and increases the likelihood of a sale.

By using this strategy to make more money on your book, you can spend more money on ads to drive more people to your page. This allows you to scale your side hustle and create the ultimate vehicle for personal and financial freedom without sacrificing your salary.