You may have heard of BookFunnel, or at least seen its URL when you clicked a link to get a free book from an author you know, or saw advertised. It’s a for-pay promotion service for self-published authors with growing popularity and undeniable benefits.
In this report, we’ll talk about what BookFunnel is and does, what kinds of authors it works for, the basics of how it works, and a few top tips and tricks to make the most out of your account there.
Sound fair? Good. But before we go there, we have to discuss a specific business concept at the core of why BookFunnel Works:
What is a Loss Leader?
A loss leader is something you sell for far lower than regular price (often at a loss, hence the name), to get people’s attention and sell other, higher-profit, items to them once that attention is earned.
Black Friday sales are one of the best-known examples. Stores put leftover stock on deep discount to lure shoppers into the store. Once in, those shoppers are far more likely to buy other, high-ticket, high-profit items.
The other example you’ve likely seen is the free ebook giveaway in exchange for joining a mailing list. As an author, this is one of your most valuable marketing tools. It hooks the attention of potential fans, so those fans will buy additional books from you at full price.
This is where Book Funnel comes in.