Books Are More Than Loss Leads

Do you see it, too?

More and more experts, all recommending writing books as loss leads.

The basic idea comes from the reality that most books don’t make a ton of money. Many authors only make a few hundred dollars, if anything at all, as they’re often recouping the cost of marketing, editing, and other services, such as cover design. If the book isn’t going to bring in income, the smart thing supposedly is to use it to attract people to offerings that will. Examples might include webinars, consultation packages, training courses, or other writing-related services. Typically, the book is what the writers will offer as a way to build their email lists to advertise.

Under this model, an author’s book becomes nothing more than a loss lead — an asset a provider offers at a loss to get customers to engage and look at other profitable elements of the provider’s business.

When using books as loss leads make sense

There are some instances where giving a book away for free or at a low price (e.g., the classic $0.99 Amazon sale) make sense. One is if you’re about to release a new title. Readers who missed your previous book or who want to refresh their memories (common with series) often will take the free or sale book. But new readers who aren’t familiar work typically jump in, too, as there’s very little financial risk involved with giving your writing a try. If they like the free or sale book, there’s a good chance they’ll also take a look at and buy your new release, as well as other books you might have penned. This means that books you write early in your career still can end up being financially successful over the long-term, even if the initial sales are lackluster.

Giving away a book also can be a smart marketing strategy for a business leader or company. The books involved in these cases give the business or executive a simple way to package their insights. They become take-with-you resources to hand out while with potential clients or participates in events, but they’re never intended to be the primary offer. I’ve helped multiple clients create these types of works.

Books can be the point, not the warm-up

But to tell authors that books are only a doorway is to discourage them away from the craft. It denies how much energy and heart they can put into their manuscripts, treating that as being less valuable compared to the monetary gain from other types of sales.

Books can serve as loss leads, but they are more than that. They’re also expression. Hope. Connection. Humanity wrapped up in characters.

Maybe, even as we try to form larger strategies, it’s time we treated them that way again.