3 Ways to Grow Your eBook Publishing Platform
The global eBooks market is experiencing exponential growth. By the end of the year, it is expected to generate a revenue of $14.61 billion in online sales. Statista further predicted the number of eBook readers will reach 1.1 billion by 2027.
Previously, eBook publishing was a niche sector in the digital publishing world. Print books were converted to digital formats and could be read on eReading devices such as Amazon’s Kindle and an Apple iPad.
Fast forward to the present and much has changed. Ebook formats are more diversified. You can read your favorite book on any mobile device, making it more accessible to a wider audience.
For publishers, the accessibility offers the opportunity to not only self-publish but also sell digital content on their eCommerce platforms.
In this article, we’ll delve into three ways to grow your eBook publishing platform and incorporate them into your business strategy.
#1 SaaS for Ebook Publishing
Unlike other eCommerce platforms, digital publishing is more nuanced. Don’t let it be an issue. Thanks to various SaaS (Software-as-a-Service) tools at your disposal, deciding on which one to choose will be the hard part.
A comprehensive cloud-based eBook publishing platform should allow people to create, publish and distribute digital content.
A Few More Things to Consider
Invest in an API (application programming interface) to integrate your customer portal and accommodate one-click purchases and upgrades, advises PayPro Global.
SaaS startups are viewed as unicorns in the publishing industry and have scaled to become very successful in the shortest amount of time. One only needs to look at Issuu’s staggering achievements as an example.
As an eBook publisher, you want to tap into the same resources as Issuu and increase your service functionalities. Why not make one of your offerings digital magazines, branded SEO content or white papers?
If you have a powerful SaaS tool, incorporating these features at a later stage should be easy.
#2 Tap into the EdTech Market
Educational publishers know the value of offering educational material online. Teachers and learners having full access to content benefit the most.
Value-added features will give you the creative edge. One example is an annotation tool that allows readers to leave notes in the texts and attach hyperlinks. Think of it as a Wikipedia for schoolers.
Here’s where you can capitalize on the interactive angle, giving users of your platform the freedom to co-create instead of reading static content.
Don’t be afraid to play around with auxiliary content. Video and audio are great co-learning tools.
Once again, API software can collect data and monetize it. How? You can use the data to track a learner’s success or where they may be struggling in certain areas.
#3 Market Yourself as a Self-Publishing Platform
According to The Bookseller, the global self-publishing market is worth $1.25 billion a year. Despite the huge success of the sector, traditional booksellers tend to shy away from selling self-published books, says the publication.
For those who offer a platform for self-published authors, that little fact works in their favor. You could create an ecosystem that encompasses eBook creation and global distribution.
Presently, Amazon Kindle Direct Publishing allows authors to publish their books with the go-live time 48 hours later. It offers 35% to 70% royalties on sales, according to Forbes.
Integrating self-publishing features is an excellent way to scale your business. Firstly, your authors reach a global audience. This comes in handy for niche or specialized content.
Secondly, if you can offer authors real-time data on how their sales are doing, they can adjust their marketing strategies accordingly. You could monetize this option by presenting the wealth of information at a fee.
There’s no denying that the demand for print books has waned. It’s sad that people no longer savor the excitement of flipping the pages of a book. There’s something nostalgic about that musky smell when you first open an old storybook.
With eBooks and audiobooks set to replace the traditional way of how we consume reading content, let’s hope it opens a door to increased literacy.
Currently, the stats don’t bode well. Think Impact states that low literacy rates are costing Americans up to $2.2 trillion every year.
Launching an eBook publishing platform can come with many gains. Also, think about the bigger picture by making your content more accessible.
By incorporating the three solutions mentioned, your publishing platform should have the upper hand on competing businesses, experience revenue growth and sign on more customers.