So you're wondering: how to make money on Audible?
Get ready to strap on your entrepreneurial boots because we're about to explore how to tap into one of the hottest markets!
With over 425,000 audiobooks in the Audible library and a massive untapped audience just waiting to be reached, there's no better time to learn how to make money on Audible.
So let's get to it and discover the secrets to success on this lucrative platform!
1. Create Audiobooks
Let's start by looking at how to publish your own audiobook on Audible.
Finding Profitable Keywords
When it comes to making money on Audible, keyword research is crucial.
You should never, I repeat, never, pick a keyword based on emotional or opinionated influence.
For example, you might be obsessed with creating an audiobook about your pet rock collection. But just because you love something doesn't mean a market exists.
So when doing keyword research, you must focus on the data, numbers, and cold hard facts. That's the only way to find keywords with high search volume and low competition.
KDSpy can give you a huge advantage when finding profitable keywords and niches.
You can confidently select the best keywords for your audiobook and increase your chances of success.
If you want to explore KDSpy in further detail, you can check out our full KDSpy review.
Here are the KDP and Audible keyword research criteria I recommend for maximum results:
|KDP (Kindle Direct Publishing)||Audible|
|Verify 5-10 of Amazon's first-page search results are related to the main keyword.||Keyword auto-fills when typed into the search bar on Audible|
|Look for an average Best Seller Rank (BSR) of 150k or lower (remove outliers)||Less than 150 search results|
|Keyword has under 5,000 results on Amazon||There ~5 books with over 75 reviews or more that appear when you type in the KW|
|Verify that an exact KW match appears in the Amazon search bar first five autofill results|
Another consideration is to select keywords that make sense for audio content. It might be better suited to a different medium if it's a visual topic, like cooking or gardening.
On the other hand, if your topic is something that people would enjoy listening to, such as a motivational book or a gripping novel, then you're on the right track.
Writing The Book
While writing a book can be a rewarding experience, it can also be time-consuming and challenging. That's why many people are turning to tools like Jasper to help them write their books in a streamlined manner.
Jasper is a popular tool that's helped countless authors write their books in record time. Their community hosts a 7-Day Book Challenge, which challenges users to write a 30,000-word book in seven days.
With the support of the Jasper community, many authors successfully completed the challenge and published their books on Audible.
One Jasper user, Bob Martel, wrote his aptly-named book Unbelievable in under 19 hours.
Of course, not everyone has the time or inclination to write their own book, which is where ghostwriters come in.
Ghostwriters are topical experts who can write your book on your behalf. You will still be credited as the author.
You can hire a ghostwriter on many platforms, such as Upwork, Fiverr, and Reedsy.
Here are some best practices for hiring a ghostwriter:
- Look for relevant experience. Look for writers with a portfolio of work demonstrating their skills in the niche.
- Set clear expectations upfront. Discuss the scope of the project, deadlines, and payment terms.
- Check references and reviews. This can help you better understand their work ethic, communication skills, and reliability.
- Communicate regularly. It's important to maintain regular communication, provide feedback, and answer any questions they may have.
- Have a contract in place that protects your intellectual property rights. This can help you avoid any legal issues down the line.
Creating a Cover
With thousands of audiobooks available on Audible, a visually appealing and attention-grabbing cover is your ticket to standing out.
A great cover can pique a customer's interest, entice them to click, and ultimately lead to more sales for you.
Plus, with covers appearing in various sizes on the site and potentially on billboards, finding that sweet spot of legibility and visual impact is crucial.
Audiobook covers have their own unique challenges. They need to grab the listener's attention and convey the tone and genre of the book at a glance. A designer unfamiliar with these nuances may struggle to meet these requirements.
So, where can you find the experts? Online design marketplaces like 99designs or Upwork are great places to find talented designers specializing in audiobook cover design.
Hiring a Narrator
Audiobook narration is an essential element of producing a successful audiobook.
A skilled narrator can bring a story to life, creating an immersive experience for the listener.
They can infuse characters with unique voices and personalities, convey emotions with their tone, and maintain a consistent pace throughout the book.
ACX is a popular platform that puts authors in touch with professional narrators.
Here are some tips to get started:
- Filter by genre, gender, voice, age, language, and more to find the right match for your book.
- Listen to samples of each narrator's work to understand their style and delivery.
- Contact your top picks and discuss payment.
- Decide between per finished hour, per word, or royalty-sharing payment options.
Promoting Your Audiobook
Promoting your audiobook is crucial to get it in front of more people. One key aspect is creating an eye-catching title and cover that will stand out in the crowded Audible library.
Another important consideration is selecting the right category for your audiobook to ensure it's easily discoverable by your target audience.
Launching your audiobook alongside your print book or ebook can also help generate attention and interest in the audiobook version.
Don't forget about podcasts! When you appear on a podcast, you can share your story and provide value to the host's audience.
Next, tap into the power of “free” when launching. Websites like Freebooksy.com have a large audience of avid readers who are always looking for their next great read.
By submitting your free audiobook to these sites, you can get your book in front of those most likely to enjoy it. This can create a snowball effect.
As your book gains more reviews and climbs the rankings on these promotion sites, it will become more visible to readers and attract even more downloads and reviews, creating a self-sustaining cycle of buzz and exposure.
2. Become an Audiobook Narrator For Other Authors
Just as authors can hire narrators for their audiobooks, some people make a living by specializing in narration.
To become a successful audiobook narrator, you'll need to master several skills.
Acting is a cornerstone of narration because, at its heart, you're telling a story.
Think about it – you're narrating a scene with many different characters, each with a unique voice and personality.
One moment, you might be voicing an old man with a deep, gravelly voice, and the next, you're switching to a child's squeaky voice.
So if you have a background as a voice actor, you'll be at a unique advantage.
Stamina is another vital skill. Audiobook narration can be grueling, demanding that you sit in a recording booth for hours. You've got to have the mental and physical energy to stay focused and engaged throughout long recording sessions.
Research skills are also crucial. You may know a lot about some subjects, but you won't be an expert on everything you narrate. It's important to understand not only the words on the page, but also the author's intent and the historical or cultural context of the story.
Finally, you've got to be tech-savvy. While you don't need to be an audio engineer, you've got to know your way around recording equipment and software. You should also understand sound editing to make your narration sound crisp.
Quick Overview of ACX
Here's a quick overview of how ACX works as a marketplace.
How To Get Started On ACX For Narrators
If you're interested in becoming an Audiobook Creation Exchange narrator, follow these steps to get started:
- Set up your recording space: Quiet, soundproof space for reading aloud with good acoustics, mic, and recording software.
- Create a profile: Sign up, and complete your profile with bio, headshot, and samples of your work.
- Browse projects: Check available projects and filter by genre, budget, and type.
- Audition: Record and submit a short excerpt from the book that showcases your strengths and vocal range.
- Negotiate terms: Agree on pay rate, deadline, and production schedule.
- Record and submit audio: Follow ACX audio quality standards and submit finished audio files on time.
3. Join Audible's Affiliate Program
If you want to make money on Audible without being a professional narrator or author, joining Audible's affiliate program might be the perfect fit for you.
Audible is a top provider in the industry with a massive selection of audiobooks and other audio content. And as an affiliate, you can earn money by promoting their products on your website or social media channels.
One thing I love about the Audible affiliate program is that you don't have to rely on people purchasing a product to make money.
Instead, you can earn a commission by getting people to sign up for a free trial Audible subscription. That means you can start earning right away, even if your audience isn't ready to commit to buying something yet.
So what's the commission structure like? For every new Audible audible account that you refer, you'll earn $5.00. Plus, for every Audible Premium Plus Membership you refer, you can earn $10.00. And for every audiobook purchase you refer, you'll earn $0.50.
That might not sound like a lot, but the audiobook sales add up quickly if you have an engaged audience interested in audiobooks and other audio content.
And with Audible's massive selection of titles, there's something for everyone.
How to Get Started with the Audible Affiliate Program?
Signing up for the Audible affiliate program is a breeze. The first step is to visit the Audible affiliate page and click on the “Join Now” button. From there, you'll be asked to create an Amazon Associates account.
You'll provide some basic information, including your name, email address, and website URL (if you have one).
Once registered, you'll receive an email with your unique affiliate link and access to various marketing materials to help you promote Audible's products.
With your affiliate link in hand, all you need to do is place it on your website, social media channels, or other marketing channels and start earning commissions on every new Audible member you refer.
4. Create Audio Content
It's no secret that podcasts are a big business. US ad spending will surpass $2 billion in 2023, accounting for one-third of all digital audio ad spending.
Podcasters can think of Audible as a vast ocean teeming with 55 million eager listeners waiting to be hooked by their content.
So, let's start with the basics. How can you make money on Audible if you're a podcaster? Well, there are several ways to monetize a podcast, including:
- Sponsorships: Companies pay to promote their products or services on your podcast.
- Advertising: You can run ads on your podcast and get paid.
- Premium content: Offer exclusive content to your listeners for a fee.
- Merchandise: Sell branded merchandise to your listeners.
But that's not all – as a content creator, you could work directly with Audible to produce exclusive “Audible Original” content.
This section includes everything from original dramas and comedies to non-fiction content and news.
One of the most interesting sections on Audible is the “Sleep” section, which features a range of relaxing audio content.
From guided meditations to soothing nature sounds, this section has something for everyone struggling to get a good night's rest.
And speaking of meditation, there's also a dedicated “Meditation” section on Audible that features a wide range of guided meditations designed to help you relax, reduce stress, and improve your focus.
How to Make Money on Audible – Conclusion
Audible is a huge platform with tons of potential.
Creating audio books is not the only way to make money on Audible. You could also work as an audio book narrator, promote Audible books as an affiliate marketer, or create podcasts.
So what are you waiting for? Get those creative juices flowing and tap into this lucrative market!
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