Selling the ebook or giving it away as a lead magnet?

[Alex_smith]

Hi guys,
I would like to hear your shares on I should sell the ebook or giving it away as a lead magnet?
which is better to get more benefits and which has more advantages?

I would have your recommendation before join one of two these ways

 

[NickTheMusketeer]

Hello Alex Smith.

It all depends on whether you want short term income or long term income.

Advantages of selling the eBook
1. Income - You get paid for the eBook.
2. Investment or re-investment ability.
3. Ability to cover the costs

Disadvantages of selling the eBook
1. If you don't have a large audience, you may not earn as much as you might have wished.
2. You are never sure if someone will chargeback you (PayPal).
3. If your eBook doesn't live up to its expectations, people will demand a refund. If you refuse to refund them, you will damage your reputation.

Advantages of sharing the eBook (Lead Magnet)
1. You can build your own mailing list.
2. You can build a targeted audience.
3. You can engage with your audience to learn their interests.
4. You can build a trust with your audience so that you can easily market an affiliate product later on.
5. People love free stuff and they are willing to give their precious email address for that.

Disadvantages of sharing the eBook (Lead Magnet)
1. No income.

 

[Alex_smith]

Awesome information!

2. Investment or re-investment ability.
3. Ability to cover the costs

5. People love free stuff and they are willing to give their precious email address for that.

I don't understand these factors , can you elaborate these?

3. If your eBook doesn't live up to its expectations, people will demand a refund. If you refuse to refund them, you will damage your reputation.

Do you have any experience to deal with this?

 

[NickTheMusketeer]

NickTheMusketeer

The 2nd factor is referring to an investment or a re-investment. Suppose you earn $500 from your eBook leads. You can invest a part of it into buying something for yourself or you can re-invest in paid advertising in hopes of receiving a better recurring income.

The 3rd factor doesn't limit on the re-investment but also on covering the costs of your web hosting, current/future domain names and paying your bills.

The 5th factor refers to people and their habbits. If someone gives you a free offer in exchange for your email address, you will most likely have no issue with that. You don't really care about your email since you care more about what you are going to receive as a freebie.

The 3rd factor of disadvantages of selling the eBook refers to people's personal interests. Your eBook may be poorly written so they will either demand a refund or comment on various forums, blogs and websites regarding their experience. Thankfully, I never had to deal with this.

 

[Nytshade]

I would say give it away for free, that's a big advantage because you can add affiliate links in the ebook, recommend your services or products and you get to gain their trust so that when you sell them something in the future you stand a better chance of getting sales.

 

[Fonzan]

Well here's an option:
Use the ebook as a lead magnet, that way you grow your email list.
And on the last page of your ebook you can write, something like,
"If you like this ebook and want to know more about it, check this link"
And the link will bring the (targeted) prospect to your sales page.
For, let's say $297 or more you offer a complete course:
a. 3 more chapters in your ebook
b. 4 audio files of your niche experts (You interviewed/recorded them with Skype)
c. 4 video files of the best chapters from your ebook (powerpoint presentation recorded with camtasia)
d. 3 month email contact for help
e. Bonus ebooks (privet label right ebook) in the same niche

This is a quick overview how you make your own digital product, and
turn a $10 or free ebook into an awesome product....
Just think about it... think BIGGER! Success!!!