One way to monetize a course in miracles is to develop different products that might be targeted to different publishing avenues, including traditional publishing, a distribution deal with a major publisher, and self-publishing and distribution. Additionally, some books lend themselves to licensed products and branding.
A traditional publisher is great for retail book channels. But otherwise, you can market the book directly without having to split the royalties with the publisher or give them a cut of distribution. You can work with a fulfillment house to handle the details of orders. Also, you can base your print run on actual orders and go back for an additional print run, rather than planning for an initial print run of a large number of copies unless you make your sales target.
Marketing a Niche Version of Your Book
If you develop a niche version of the book, such as a how to guide or collection of chapters featuring profiles of different people in an industry, that can be most effectively marketed through direct selling and self-publishing, rather than through a deal with a traditional publisher. You will earn more and have more control, especially if you are already selling directly to this market. You don’t need to create an expensive PR campaign to reach this market, since such a campaign is much broader in scope than is necessary to reach a targeted audience.
You can reach this targeted market through obtaining lists of people in your field and doing direct sales through e-mails; participating in workshops and seminars for this market (and possibly getting paid for such participation); and doing an e-mail blast to the media interested in this subject, such as provided by PR Wire, Business Wire, and PR and Networking Connection, which can reach 20,000+ media contacts. Another approach might be working with a small PR firm, in one of the major cities or in your metro area. Retainers average about $2000-5000 a month.
You might also create a bulk sales plan, where you target particular companies or organizations in your field and get them to commit to a certain number of purchases for their employees or members. This approach is best for a self-published book, where you get the money for the sales and don’t have to share that with the publisher. If you have pre-sales, be sure to obtain formal commitments from those who have agreed to purchase the book and at what price.
Finding a Publisher for a More Popular Version of Your Book
Besides creating a more specialized niche book, you might create a version of your book with broad appeal, such as a popular business or self-help book, for the traditional publishing market. This way, rather than only having a specialized book for those in the field, this popular version would be targeted to a much broader market. In such a case, the publisher normally handles the publicity, and you coordinate your own PR efforts with the publisher. Commonly, publishers want and even expect you to do this extra PR.