Money

How to make money on Audible?

Audible is a popular audiobook platform owned by the tech giant, Amazon. It boasts a massive library of audiobooks, podcasts, and other audio content. As an online content creator, you can monetize your work on Audible by selling audiobooks or producing original content.

How to start making money through Audible?

Audible getting started

In this blog post, we will discuss the steps you need to take to sign up and start monetizing Audible through different marketing tactics. We’ll also look into how much you can earn with Audible with its royalty fees.

Plan your first Audiobook

The first step in monetizing your work on Audible is to create a high-quality audiobook. Audible is known for its high standards, so you need to make sure that your audiobook meets those standards.

Here are some tips for creating a high-quality audiobook:

  • Use a professional-grade microphone to record your voice.
  • Record in a quiet space with minimal background noise.
  • Use a pop filter to eliminate plosives and other unwanted sounds.
  • Edit your recording to remove mistakes, pauses, and other flaws.
  • Hire a professional narrator if you don’t feel confident in your reading skills.
  • Ensure your audiobook meets Audible’s technical requirements.

Create an ACX Account

ACX (Amazon Creation Exchange) is the Audiobook Creation Exchange, which is owned by Amazon. It’s the platform that connects authors, publishers, and narrators with Audible. To create an ACX account, follow these steps:

  • Go to the ACX website.
  • Click “Get Started” in the upper right-hand corner of the page.
  • Follow the prompts to create an account.
  • Once you’ve created an account, you can start the process of uploading your audiobook to Audible.

Set Your Royalty Rate

One of the great things about ACX is that you get to set your own royalty rate for your audiobooks. This means that you have control over how much money you make from your content.

ACX offers two royalty rate options: exclusive and non-exclusive. If you choose the exclusive option, you will receive a higher royalty rate, but you will also be required to sell your audiobook exclusively on Audible, Amazon, and iTunes for a period of seven years.

If you choose the non-exclusive option, you will receive a lower royalty rate, but you will have the freedom to sell your audiobook on other platforms as well.

Upload Your Audiobook to ACX

Once you’ve created an ACX account, you can start the process of uploading your audiobook to Audible. Here are the steps:

  • Click “Add Your Title” in your ACX dashboard.
  • Fill out the title information, including the title, author, and narrator.
  • Upload your audiobook files in the required format (usually MP3).
  • Set the price for your audiobook.
  • Submit your audiobook for review.

Wait for Approval

Once you’ve submitted your audiobook, you’ll need to wait for it to be approved by Audible. This process can take up to two weeks. During this time, Audible will review your audiobook to ensure it meets their technical requirements and content guidelines. If your audiobook is rejected, Audible will provide feedback on what needs to be fixed.

How to Promote Your Audiobook

Once your audiobook is live on Audible, you need to promote it to potential listeners. Here are some tips for promoting your audiobook.

Leverage Audible’s Marketing Tools

One of the most effective ways to promote your audiobook through Audible is to leverage the platform’s built-in marketing tools. Audible offers a variety of tools that you can use to promote your audiobook, including:

  • Promotional codes: You can create promotional codes that give listeners a discount on your audiobook, which you can then share with your audience.
  • Author pages: You can create an author page on Audible, which allows you to showcase your other audiobooks and provide links to your website and social media profiles.
  • Customer reviews: Encourage listeners to leave reviews of your audiobook on Audible, as this can help to increase its visibility and credibility.

Optimize your audiobook’s metadata

Just like in the previous point, you need to highlight the keywords to help people find you. Make sure that your audiobook’s title, author name, narrator name, and other metadata are accurate and descriptive.

This will help potential customers find your audiobook when they search for related keywords or browse through Audible’s categories.

Utilize Social Media

social media marketing

Social media is an incredibly powerful tool for promoting your audiobook. You can use platforms like Twitter, Facebook, and Instagram to reach new listeners and build buzz around your audiobook.

Some effective social media strategies for promoting your audiobook include:

  • Creating shareable graphics and videos that showcase your audiobook and encourage people to check it out.
  • Sharing excerpts and behind-the-scenes content that give listeners a glimpse into the creation of your audiobook.
  • Partnering with other authors and influencers in your niche to cross-promote each other’s audiobooks.

Offer Free Review Copies

Offering free review copies of your audiobook to bloggers, book reviewers, and other influencers in your niche can be an effective way to generate buzz and build momentum for your audiobook.

For example, below you can also find my free ebook copies that help start your own online business. While I did put a lot of effort into these, the pay off comes from the emails I can get for my email marketing campaigns to stay closer in touch with those that are interested in starting their own business venture.

Free ebooks

When offering free review copies, it is important to consider the following:

  • Reach out to reviewers who are interested in your genre or topic.
  • Provide clear instructions on how to access your audiobook and leave a review.
  • Follow up with reviewers after they have received your audiobook to thank them for their time and feedback.

Leverage email marketing Audible Email Marketing

Email marketing is a great way to reach out to your existing audience and encourage them to purchase your audiobook. Consider creating a dedicated email list for your audiobook and sending out regular updates about its availability, discounts, and other special offers.

You can also use email marketing to build relationships with your audience by sharing exclusive content, such as behind-the-scenes footage or author interviews.

Seek out reviews

Customer reviews are a key factor in determining an audiobook’s popularity on Audible. Encourage your readers to leave reviews on Audible, Amazon, and other platforms. You can also reach out to book bloggers, book review sites, and other influencers in your niche to request reviews.

Participate in promotions and discounts

Audible regularly offers promotions and discounts on audiobooks, including featured titles and Daily Deals. Participating in these promotions can help to increase your audiobook’s visibility and attract new customers. You can also create your own promotions and discounts, such as offering a limited-time discount to your email subscribers or social media followers.

Collaborate with other authors and narrators

Collaborating with other authors and narrators in your niche can help to increase your exposure and attract new listeners. Consider partnering with other creators on joint promotions, audiobook bundles, and other collaborative projects.

You can also use social media and other platforms to cross-promote each other’s work and reach a wider audience.

How much can you earn on Audible? 

When someone purchases your audiobook on Audible, you’ll earn royalties based on the price you set for your audiobook.

Royalty rates vary depending on the price of your audiobook and whether you choose an exclusive or non-exclusive distribution agreement. Here are the current royalty rates for Audible:

  • 40% for the non-exclusive distribution
  • 25% for exclusive distribution at a price of less than $7.49
  • 40% for exclusive distribution at a price of $7.50 to $9.

As an author or narrator, you can earn royalties of up to 40% of the retail price of your audiobook, depending on the pricing and distribution options you choose. For example, if your audiobook is priced at $10 and you have a 40% royalty rate, you would earn $4 for each sale.

Audible Bonus Program

It’s worth noting that Audible also offers a bonus program for authors and narrators, which provides additional compensation based on the number of hours listened to your audiobook. The bonus program pays out based on the total number of hours listened to by Audible members each month, and the amount you earn can vary depending on the popularity and length of your audiobook.

According to Audible, the average royalty rate for authors and narrators is around 25%, although this can vary depending on the specific terms of your contract. Some authors and narrators have reported earning thousands of dollars per month through Audible, while others may earn less depending on the popularity and success of their audiobooks.

Overall, the amount you can earn on Audible depends on a variety of factors, and there is no set amount that you can expect to earn. However, if you create high-quality audiobooks that appeal to a wide audience and promote them effectively, you can potentially earn a significant amount of money on Audible.

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