How To Make Money On Audible (2023): Tips For Success
Are you looking for ways to make money online with Audible? With the rise of audiobooks, there are now plenty of opportunities to make money from the comfort of your home.
Whether you’re an author looking to narrate your own book, an aspiring narrator looking for a side gig, have a podcast or want to earn from affiliate marketing, this guide on how to make money on Audible will help you get started.
What is Audible?
Audible is an Amazon-owned platform for audiobooks, podcasts, and other audio content. It’s one of the most popular streaming services available, and it gives users access to thousands of titles in various genres.
Other audiobook business models don’t come close to having the same reach as Audible. It’s estimated that Audible has over a 60% market share of digital audiobooks and is available in over 190 countries worldwide.
Consumers can purchase individual books or subscribe to Audible for unlimited access to their library. In addition to streaming, the platform also allows users to download books for offline listening.
These features help make the Audible platform the biggest and most popular place for audiobooks, podcasts, and other spoken word entertainment.
What Are The Benefits of Using Audible?
Audible offers a number of benefits for authors, narrators, podcasters, and listeners alike. For authors, it’s an easy way to reach a wider audience without the cost of traditional publishing.
And with a growing demand for audiobooks, narrators can make extra money from home by lending their voices to projects.
It also provides convenience for listeners. With Audible, they can access their favorite books almost instantly and listen to them on any device. And since stories come alive through audio, it’s an immersive experience that can make learning new concepts easier.
In the next section, I’ll look at making money online with Audible using different methods so there is something for everyone.
The Audiobook Creation Exchange Platform (ACX)
ACX is a self-publishing platform for authors and narrators. It allows authors to connect with potential narrators, negotiate royalties, and create audiobooks. Authors can also set the prices of their own books and share in sales profits.
- ACX platform allows authors to easily self-publish their audiobooks.
- Authors can earn up to 40% royalties from sales of their books through the platform exclusively or 25% non-exclusively.
- The platform offers a wide selection of freelance professional narration and production services for creating audiobooks.
- Complimentary marketing opportunities for authors through ACX, including exclusive audio deals and advertising campaigns.
- Comprehensive author dashboard that provides insight into the performance of audiobook titles.
- Easy-to-use tools and features to help authors create professional quality audiobooks.
If you already have Kindle books for sale on Amazon, converting them to an audiobook gives you another passive income stream for very little extra work as you already have the book written!
How To Make Money On The Audible Self-Publishing Platform
Create Your Own Audio Content
Creating your own content for Audible can be a great way to reach a larger audience and share your story with the world. Whether you’re an author, podcaster, or voice actor, creating your own audiobook is a great way to expand your reach and make your work available to listeners everywhere.
In this section, I’ll explain how to create an audiobook for Audible and provide tips on how to make it sound professional and engaging so you be successful in selling audiobooks.
1. Gather Tools to Produce Quality Audio
Creating your own content requires the right tools. You’ll need a computer or laptop, an audio interface and mixer, headphones, recording software, and a quality microphone. Depending on your budget, you can find quality equipment that won’t cost too much to get the best audio quality.
2. Choose Your Format and Audience
Are you creating a podcast, audiobook, or something else? This will determine your target audience and the approach you take. Make sure to research the popular genre and topics to create content that resonates with listeners.
3. Plan Out Your Content
Once you’ve chosen your format and audience, it’s time to plan out the content. Develop an outline covering topics, storylines, and other project elements. This will help keep you organized and on track throughout the recording process.
If you need help, you could use an AI writing tool to help you plan your content. With the arrival of this software, more and more people are aware of AI-assisted writing, which can help writers generate content much faster than before.
For example, a fantastic tool like Jasper AI can help you create outlines, write stories, or even discuss ideas for writing projects.
4. Record and Edit Your Content
Now it’s time to start recording. Make sure to follow the outline you created and stay focused throughout the process. Afterward, edit your audio files to ensure quality before publishing.
You can always hire a narrator if you don’t want to do this yourself; prices range from $125 – $300 per finished hour (PFH). Alternatively, you could offer them a cut of the royalties instead of paying upfront; check out the narrators for hire on the ACX website (not the Audible site).
5. Publish & Promote Your Content
Once you’ve finished recording and editing, it’s time to publish your content. You can do this through various platforms like Audible or iTunes. To increase visibility, promote your content across social media channels like Facebook, Twitter, and YouTube.
6. Measure Results & Refine For Future Projects
After your project is published, it’s important to measure its success. Analyze data such as views and downloads to find out what works and what doesn’t. This will help you refine future projects for better results.
Join The Audible Affiliate Program
Affiliate marketing is when you sell other people’s products in return for a commission and is a lucrative way to build a substantial passive income.
All you need to do is sign up for an account on the Audible Creator Program page and fill out all your personal and business-related information.
Once set up, you can start to promote and sell audio versions of eBooks, books, or anything you can think of through your website or blog. You can also use social media platforms like Facebook, Twitter, or Instagram to share links to products with your followers.
When someone clicks on one of your links and purchases from Audible, you’ll get a commission for that sale, and they get a free audiobook – win-win!
Using the Audible Associates program, you can earn $15 every time someone signs up for a 30-day free trial using your unique link. You can sell Audible products, not just your own!
The Audible Bounties program is another great way to earn money. This program gives you fixed commissions of up to $75 every time an Audible listener becomes a member by buying your audiobook.
If you’re looking for a passive income stream, then using the Audible Creator program to become an affiliate is a great starting place.
For narrators, ACX offers a great way to earn money from home. You can find projects on the platform that match your skills and availability, and the process is relatively straightforward. Sign up and create your profile, and you’re ready to receive offers.
You’ll need to record a sample of your narration before applying for projects, and once you have accepted a project, you’ll narrate it according to the guidelines set by the author.
As I mentioned earlier, you can be paid per finished hour (PFH), offer split royalties, or a mix of both. Once you become experienced, you could earn anywhere from $300 – $5000 per book.
Offering Audiobook Coaching and Consultations
If you have experience as an author or narrator, you can offer audiobook coaching and consultations to help other authors with audio production.
As an audiobook coach, you can advise on various topics like narration techniques, post-production workflows, and marketing strategies. You could charge a consultation fee of $50-$100 per session.
You can also offer various services, such as audiobook cover design, promotion planning, and even narrating audiobooks directly. Charge your clients accordingly and provide quality service they won’t forget.
Advertise your services on sites like Fivver and Upwork to get the ball rolling.
Creating Courses and Selling Them on Audible
If you have knowledge in a specific area, then creating a course can be a great way to earn money. You can create audio versions of your existing content, such as eBooks, webinars, podcasts, etc., and sell them on Audible.
Creating courses from scratch is also an option. You’ll need to come up with a topic, create the content in audio format, and submit it to Audible. Your course will then be available for purchase on the platform.
To increase awareness of your course, promote it on social media platforms like Facebook or Twitter as well as other online marketplaces like Udemy or Skillshare.
Tips for Making Money on Audible
Creating Quality Audio Content
The key to success on Audible is creating quality content. You need to ensure that your audio is of the highest quality you can afford, which means investing in good equipment, hiring a professional narrator if necessary, and taking the time to edit and proofread your work before submitting it.
Researching Your Target Audience
If you’re looking to make money, it’s important to research your target audience. Knowing who you are creating content for will help you create a product that resonates with them and increases your chances of success.
When researching your target audience, consider the following questions:
- What topics are they interested in?
- What type of content do they prefer?
- How often do they purchase audiobooks?
- What genres do they typically buy?
Answering these questions can help you create an audiobook that caters to their needs and interests. Additionally, understanding your target audience can help you promote your book more effectively and increase sales.
Connecting with Existing Podcasts and Networks
- Research existing podcasts and networks: Before trying to make money on Audible, it’s important to research and find out what podcasts and networks are already available. This will help you get an idea of what type of content is popular and how much money you can expect to make from each network.
- Connect with existing networks: Once you’ve done your research, it’s time to start connecting with existing networks on Audible. You can reach out directly or use a service like Fiverr or Upwork to find someone who can help you connect with the right people.
- Create high-quality content: The key to making money online with Audible is creating high-quality content that people want to listen to. Ensure your podcast has a clear focus and provides valuable information that listeners will appreciate.
- Promote your podcast: Once you have created your podcast, it’s important to promote it so that people know about it and are willing to listen. You can use social media, email marketing, or even paid advertising campaigns to get the word out about your podcast and attract more listeners.
Creating Compelling Promotional Materials
- Utilize Social Media: Social media is a great way to promote audiobooks on Audible. Create posts highlighting the book’s content, providing excerpts, or offering discounts. You can also use social media to create relationships with potential listeners and build an audience.
- Leverage Influencers: Reach out to influencers in your genre who have large followings and ask them to review your book or share it with their followers. This can be a great way to get the word out about your audiobook and increase sales.
- Offer Discounts: Offering discounts on audiobooks is an effective way to attract new listeners and boost sales. Consider offering discounts through email campaigns, social media promotions, and sites like Chirp, which specializes in audiobook promotions.
- Create Compelling Cover Art: The cover art of your audiobook is often the first thing potential listeners will see, so it’s important that it’s eye-catching and compelling. Investing in professional cover art can go a long way toward making your book stand out from the crowd and attracting new listeners.
Use Social Media Platforms and Other Advertising Channels
- Advertise on Social Media: Utilizing social media platforms such as Facebook, Instagram, and Twitter is a great way to promote your audiobook.
- Create targeted ads that link back to your book’s page on Audible and use visuals such as book covers or video trailers to capture the attention of potential listeners.
- Try Paid Ads: Paid advertising campaigns can be effective if you target the right audience. Research the different options available and utilize platforms such as Amazon Advertising or Google Ads to get your book in front of potential listeners.
- Leverage YouTube: Creating video trailers for your audiobook can be a great way to promote it on YouTube. Utilize eye-catching visuals and compelling music to draw in potential listeners and link back to your audiobook page on Audible.
- Research Advertising Opportunities: Research different advertising opportunities like podcast sponsorship or cross-promotions, which can be effective ways to get the word out about your book.
Learning how to make money on Audible can be a great way to monetize your podcast or audiobook. You can increase sales and start making money from your content by doing your research, creating high-quality content, promoting your podcast, and leveraging influencers.
With the right strategy in place, you can earn a steady passive income from your work on Audible.