This “ChatGPT Millionaire” Book Made $85k+ Revenue in 30 Days— But That’s Not All…
A masterclass in profiting from trends
I love studying and doing case studies on books that are selling unusually well on Amazon.
You can find my growing collection of “book money reports” in Kristen’s KDP Project here on Medium.
Today’s case study has a hidden gem that is likely making the author tens of thousands in additional revenue each month.
We’ll get to that in a moment.
But first, allow me to present the subject of today’s case study, The ChatGPT Millionaire.
In the last 30 days, this title, which promises to teach you how to become a millionaire using AI, has sold a whopping 6,289 paperback copies and 161 hardback copies, according to data from Helium 10.
Physical sales of this book in the last 30 days have generated a whopping $85,274 in revenue (not profit.)
Unfortunately, since this book is unrolled in Kindle Unlimited, we can’t see the exact sales data for the ebook version using Helium 10.
However, I can see that it has a current BSR (best sellers rank) of #599.
If I plug that number into Dave Chesson’s handy Kindle Best Seller Calculator (free tool), we can estimate that the ebook version is selling around 153 copies per day.
Clearly, this book is well on its way to making the author a millionaire — and maybe you, too, if you implement some of the lessons from this case study.
Why Is It Selling So Well?
Ever since ChatGPT was released on November 30, 2022, it’s been a trending topic.
People are actively looking for ways to make money using AI.
It’s a big topic.
Not only that, more than 10,136 people typed “ChatGPT” in the Amazon search bar in the last 30 days, looking to read and learn more about the large language model.
The author simply took advantage of this trend.
The 116-page book, which mainly consists of an overview of ChatGPT along with a few fun prompts, was published in January 2023.
Which is PLENTY of time for the author to master the AI tool, become a millionaire, and write about his experience, right?
Right???
Lol.
Jokes aside, I think we can all agree that the title is a bit misleading, but you have to admit, from a marketing perspective, it works.
Before I get to the “hidden gem” I promised in the intro, I want to reveal something else to you.
Ad Strategy
Not only is The ChatGPT Millionaire running Amazon ads on keywords like “ChatGPT,” it’s also bidding on titles of extremely popular business books like:
For example, Profit First is currently getting 84,656 search hits on Amazon per month.
People who read this book are interested in making money and growing their wealth.
Therefore, at least some of the people who come to Amazon to look for Mike Michalowicz’s book will also be interested in a book on how to make money with AI, ironically titled “The ChatGPT Millionaire.”
If you’re new to Amazon Ads, I hope you can see how powerful this bidding strategy is.
Often, people will bid on the most obvious keywords for their book or genre, but positioning a title next to other best-selling books is taking Amazon Ads to the next level.
Steal the strategy.
The Hidden Gem
Alright, I promised you a little something extra in the intro, and the time has finally come to unveil it.
When I purchased this book, there was one thing that stuck out to me, like a shining diamond in the rough.
Before you get to the main content of the book, there’s a “Bonus” section — it’s the very first thing you see.
Now, I expected to find a “bonus” download, which is just a lead magnet to get the reader on the author’s email list so that he can sell them more stuff later on.
That’s not the cool part.
What stood out to me was a BOLD statement that the author had used Jasper AI to write the book!
Why on earth would the author freely admit to using Jasper AI to write a book about how to become a millionaire using ChatGPT?
Hmmm…interesting.
Now, I can attest that Jasper AI is a great tool for writing all sorts of content, from ebooks to articles to sales copy.
I’ve been using this AI writing tool since before it was forced to change its name from Jarvis to avoid a lawsuit.
Now, I can’t say for sure, but I’m guessing this author chose to mention Jasper AI because it has an affiliate program, whereas ChatGPT does not.
I think it’s genius.
And it’s something you could implement as well.
Thinking Beyond Royalties
Often, when we think about selling books, we think in terms of the royalties Amazon, Audible, or B&N will pay us.
But you could be making so much more from your books.
I recently wrote a post talking about how I started making money online many years ago.
It was essentially a more sophisticated version of affiliate marketing.
I would find useful software products that had affiliate programs that offered a recurring revenue payment model.
Then I’d create tutorials on how to use them and post them on YouTube and other places online.
The same idea can be applied to books that are sold on Amazon.
The ChatGPT millionaire is selling hundreds of copies per day.
How many people do you think clicked on that link and subscribed to Jasper AI so they could start “writing” their own AI-generated books?
I’d guess quite a few.
So, in addition to the tens of thousands of dollars this book is earning in royalties, it’s probably also making tens of thousands more in recurring revenue from affiliate commissions by promoting Jasper AI.
It’s pretty clever.
How to Jump on the AI Book Trend
Okay, so I think some of us could ACTUALLY become millionaires from this book.
I mean, maybe not from the content inside the book — but possibly by creating a competing product that employs some of the same tactics.
To be honest, The ChatGPT Millionaire is already outdated.
ChatGPT-4 subscribers now have access to third-party plugins. The new version can also access the Internet.
None of that is in this book.
While these features are still technically in beta, they will dramatically change the functionality of ChatGPT within the next few weeks.
Not to mention, there are new competing AI programs popping up every other day that could be the subject of a similar book.
Time to start writing a new, updated version of the ChatGPT Millionaire.
I think I’ll call mine “The ChatGPT Billionaire.”
Lol.
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