His Ebook Made Over $50,000 In Passive Income
How this former call centre operator leveraged his musical expertise for passive income
What is the business and who’s behind it?
The business we're delving into is the remarkable journey of an entrepreneur who found incredible success by creating and selling a digital product—a comprehensive eBook on music licensing.
The Ebook that brought in $50k in passive income
This story is a testament to the power of passion, validation, and innovative marketing strategies in generating substantial passive income.
Meet Emmet Cooke, who began his career in a call center and later discovered his true passion in music. He transitioned into composing stock music and, through expertise developed over time, unintentionally became recognized as an industry expert.
Emmet’s story is a testament to how anyone can transform their knowledge into a lucrative digital product, and it all started with an eBook.
How was the business started?
The inception of this remarkable business venture is an inspiring journey.
According to Emmett, in 2008, he was working in a call center, providing technical support for AOL's dial-up internet users. Evidently, it was not the most exciting job.
However, life took an unexpected turn when the call center closed down, offering an opportunity for him to pursue his true passion—music. He began writing stock music, creating pieces that were later used in various projects by paying clients.
As Emmett delved deeper into the music licensing industry, his expertise grew, leading them to actively participate in forums and social media discussions.
Over time, he became a go-to source of information, frequently receiving questions from fellow composers, musicians, and producers. This unintentional recognition sparked an idea.
Inspired by the success stories of authors in other industries, Emmett pondered if he could create his own digital product—an eBook that answered the questions he’s often received.
Battling imposter syndrome and determined to avoid wasting time on a product that nobody wanted, Emmett implemented a three-step validation process.
According to him, first he created a mockup of the eBook, established a website, and used an email signup form via Launchrock to gauge interest. With a clear price point and detailed topics, they invited potential readers to sign up for notifications.
Second, they harnessed the power of social media, reaching out to their audience to ask about their interest in the eBook, inquiring about the questions they wanted answers to, and inviting them to sign up for discounted notifications.
Finally, the founder contacted those who had previously reached out to them for advice, inquiring about their potential interest in a book on the subject. In just one week, the response was overwhelming, with over 300 subscribers expressing their eagerness to be notified upon the eBook's release.
With this validation, the founder had a green light to proceed, and thus began the process of creating the eBook.
What are some of the marketing strategies used?
The success of this eBook business wasn't solely due to its creation but also its savvy marketing strategies.
During the pre-launch phase, Emmett embarked on a robust marketing campaign that involved several key tactics:
Email Marketing: In the initial month after the eBook's release, Emmett executed a well-structured email marketing plan. He reached out to his subscribers, removed them from the list once they made a purchase, and followed up with emails after 5 days, 1 week later, and then 72 hours before the launch ended. This approach led to nearly 50% of initial sales, showcasing the power of email marketing.
Social Media: Emmett leveraged their social media following, even though it was relatively small, by consistently posting about the eBook. This provided an additional boost to their marketing efforts.
Word of Mouth: Word of mouth turned out to be a potent marketing tool. Initial customers, who were likely more enthusiastic about the eBook due to their early engagement, became brand advocates, spreading the word to their peers.
Blogger and Reviewer Outreach: Emmett proactively reached out to blogs and reviewers within the niche, offering them review copies and asking for coverage. This helped to extend their reach and credibility.
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How does the business make money?
The primary source of income for this eBook business is the sales of the digital product itself.
The eBook was initially priced at $9.99 upon its launch, later increased to $14.99, and eventually to $24.99 following feedback from buyers.
During the first month after release, the eBook made over $10,000 in sales at the initial price point, and an additional $15,000 at the higher price point over the course of the year.
Emmett's income breakdown over four years revealed the following figures:
Year 1: $25,000 (1,000 sales at $9.99 and 1,000 sales at $14.99)
Year 2: $12,000 (800 sales at $14.99)
Year 3: $8,000 (533 sales at $14.99)
Year 4: $5,000 (333 sales at $14.99)
It's important to note that sales gradually declined year after year, primarily due to a lack of long-term marketing efforts and increased competition in the market.
Nonetheless, this business showcases that successful products can generate substantial income through digital sales and that the value of early engagement and effective marketing cannot be understated.
Where can we go to learn more about this business?
Here are some links you can learn more about Alex and his business:
Hey thanks for the article! I recently sold 2 saas businesses after I wrote the ebook and I'm on more active in LinkedIn now if you're interested in following me! Thanks again!