High profitability business
It took the client over 6 months to overcome the mindset and to upload the first eBook. The first product sold 12 copies in 3 days. Immediately the client saw the potential and uploaded 85 products in next 30 days. In 18 months the instant download eBook section became over 40% of the entire online revenue. The ebooks became the highest profitable products with the profits over 90%. Sold around Rs 1 Crore worth of eBooks in 18 months.
Products: Books, eBooks for competitive exams and Olympiads
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Sold over Rs 1 Crore worth of ebooks in 18 months with 90+% profit.
The client had a healthy ecommerce site producing a consistent revenue by selling the printed books. We researched the ecommerce stats and identified the best selling products on the site. We suggested the client to come up with digital editions of these books but there was a lot of apprehension that who will buy “PDF files” if they already have the printed books available on site and on book stores. The PDF books can get copied easily and shall be pirated including other big and small apprehensions.
Our strategy and recommendations
There are several benefits that can outweigh the apprehensions:
- It is so much easier and economical to produce fresh content for ebooks. Saves around 70-80% on the production cost
- You can sell one copy or one hundred thousand copies and still have no impact on your costs
- No shipment involved
- No returns and damages during shipment
- Biggest asset in this case was that all the content that is printed is also available in digital format and can be quickly and easily converted in PDF format thereby having zero production costs
Despite a lot of reluctance, we literally forced the client to produce one book for the pilot test. We, obviously, selected the one of the TOP best seller book for the pilot test. It took 6 months to produce the 1st ebook.
We got 12 orders for the 1 ebook in the first 3 days of going live. This helped us prove our point and show the potential of the market. Now the client deployed a special team to get 85 ebooks in next 30 days live on site. We sold ebooks of more than Rs 1 Crore in 18 months and it produced over 40% of entire online sales during this period.
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