Category: Indie Publishing

Business, Indie Publishing, Publishing

Blockchain: Will It Change The Publishing Industry As We Know It?

Rachel Rueben

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Recently, I read the whitepaper by The Alliance of Independent Authors (ALLi) called, Authors & The Blockchain: Towards A Creator Centered Business Model which was published this past spring.  The report was an eye opener in regards to the potential of this latest technology that could change how we do business in almost every sector of the market from finance to yes, even publishing.  In fact, they refer to blockchain publishing as publishing 3.0 in this report.  Now before I move on, I know what a lot of you are asking: Rachel, what the heck is blockchain?  In short, it’s a digitalized and decentralized public ledger that records transactions made in cryptocurrency.  And for those of you not sure what cryptocurrency is, it’s basically digital currency that is encrypted and not issued by a bank.  This makes the currency more secure and cheaper to make transactions.  Blockchain is the software that cryptocurrencies like Bitcoin and Litecoin were developed on.  I encourage you to read the whitepaper that ALLi published and if you’re still confused about blockchain’s definition, check out this Youtube video created by Simply Explained.

Blockchain either excites or frightens business owners as well as governments with the promise of eliminating middle men as well as making business deals 100% transparent.  Experts believe that in the next few years, blockchain will revolutionize every aspect of the economy.  In fact Goldman Sachs, as well as JPMorgan Chase, have invested heavily in the new technology.  So far only two companies called, Publica and Po.et have launched with the premise of independent publishing via blockchain.  I’m sure there will be more on the way as this technology evolves.

 

The Problems That Could Be Solved With Blockchain

Social media expert Gary Vaynerchuk, predicts blockchain will be the next big thing and offers a warning, “It’s gonna eliminate all your margins…When you make money by being in the middle and the internet and blockchain come along and they’re actually the middle, you’re in trouble.”  In other words, those who don’t provide value (literary agents) will lose in this new business dynamic.  This benefits traditional authors because they get a 15 – 20% pay increase just from this one elimination alone.  Here are more problems blockchain could potentially help all authors with:

  • Copyright Disputes: Products (manuscripts) are time stamped.
  • Piracy: Manuscripts are encrypted, so you can’t strip the DRM from the file.
  • Sales Reporting: Once a transaction takes place the entire ledger is updated almost in real time.
  • Late Payments: Payments are almost instant on blockchain because everyone was preapproved via cryptocurrency.

The Problems That Could Be Created By Blockchain

I wouldn’t be doing my job if I didn’t address the downside to this new technology, and some of it includes:

  • Privacy Issues: The ledger is public and unchangeable so there is no real anonymity.
  • Mistakes: Even the fastest and smartest computers make errors.
  • Consumer Reluctance: There’s no telling if consumers (readers) will follow authors from retailers like Amazon.  Also, there are several prominent voices within the financial sector calling cryptocurrency like Bitcoin, a scam.
  • New Overlords: Though there is hope that this will democratize the industry, there’s also danger in that new companies will monopolize this technology.

The Unknown Variable: The Publishing Industry Itself

Does this mean the traditional publishers will get onboard with this new technology?  Based on their response to the Kindle revolution in 2007, I doubt this will be implemented with any sort of speed.  In fact, I see them kicking and screaming into this new way of doing business.  It will most likely be the indie authors who yet again, load up their wagons and head off into this unknown frontier.  The publishing industry may be interested in the money saving aspect of it, but I doubt they’ll know how to execute.  Let’s be frank, many of them didn’t even know what metadata was a few years ago.

Blockchain has the potential to make things like fraud a thing of the past, and since the the publishing industry is rife with fraud I can see most authors welcoming this new transparency.   For example, in May of 2018, it was revealed that a bookkeeper at a prestigious literary agency had stolen seven million dollars from the agency.  This person had been stealing for years and apparently no one at the agency was paying any attention.  *Cue eye roll*  Also let’s not forget three years ago, when I talked about the case of Harper Lee, whose agent went to her nursing home and got Lee to sign over the copyright to the literary classic: To Kill a Mocking Bird.  So fraud and theft runs deep in the publishing industry and it will only get worse as intellectual properties become more and more valuable.  Blockchain won’t stop people from being shady but it will pull back the curtain and that’s what a lot of publishers and agents don’t want.

However, I believe it will be indie authors who will benefit the most from this technology because blockchain not only offers to make deals more secure but quicker.   The more and more I look at it, blockchain is a positive move for the publishing industry all around, but the question still remains, will we be able to execute?

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apps, Book Promotion, Indie Publishing, Marketing, Publishing, Social Media

Litsy: The Instagram Of Books?

Rachel Rueben

 

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Last year I heard about a new social media app for bookworms called Litsy, from Writer’s Unboxed.  Then I heard about Litsy again on Publisher’s Weekly, who heralded it as the Instagram for books.  Needless to say, I ignored it, I really didn’t need to sign up to anymore social media sites.  Seriously, I have signed up and abandoned more social media sites than I care to count.  However, last month, I got an email announcing that Litsy had been purchased by LibraryThing.  Remember them?  They were the number three site for bookworms but they kind of fell off the map.  So why on earth would LibraryThing buy Litsy?  Perhaps they were going to merge platforms, Lord knows LibraryThing’s website is clunky and slow.  Plus, most companies buy others for either resources or in order to eliminate competition.  I’m assuming it’s the first and not the latter.  Anyway, I was intrigued and had to find out what was going on, so shamelessly, I signed up for yet another social media account.  *Sigh*

What Makes Litsy Different

Unlike Goodreads and LibraryThing, Litsy is a mobile app like Instagram and Snapchat but with books, of course.  What sets Litsy apart is their book recommendations based on real users rather than algorithms.  This can be a relief for those who are tired of algorithms and keyword based gate keeping.

Litsy is heavy on images and pretty easy to use, if you can figure out Instagram and Snapchat, Litsy will be a breeze.  Once you setup your account, you can choose to start posting reviews, pictures, quotes or even blurbs but be sure your text comes with a picture of some sort.  You can find free images to accompany your posts here:

 

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They don’t call it the Instagram of books for nothing!

 

Here Are A Few Tips: Don’t forget to upload a picture of your own book cover if it’s not in their database.  You can check that out by going to their search engine and typing either your author name or book title.

Also whatever you do, don’t forget to become a community member of your genre, that’s what social media is all about, so join a book club, or start one of your own.

What Do You Post?

Here is a list of things of ideas on what to post:

  • Share a short quote from your book
  • Upload pics of your book cover
  • Hold giveaways
  • Give a review on a book you enjoyed.
  • Ask a question or for a book recommendation

 

Problems Authors Might Have With Litsy

Litsy is new and therefore still finding it’s way in the online world, so authors are going to have to grow and evolve along side it.  This could be a dealbreaker for some who have come to expect certain sophistication and privileges with more mature social media sites.  Here are more cons:

  • The community size is much smaller compared to Goodreads
  • There is a limit of 300 characters per post
  • Members of the site sometimes refer to themselves as Littens. No, I’m not kidding.
  • There is no syncing between LibraryThing and Litsy yet.
  • Their database is small making it difficult to find certain books and authors.
  • People are given a score based on their account activity kind of like Snapchat. This is how they measure influence.

 

My Personal Experience

I used Litsy for about a month, okay, I lurked for about a month and during that time I followed a lot of interesting people who were passionate readers.  Though the community is small, it is engaged.  However, you have to get used to the idea of relying on images and not words to get your message across, this means I won’t be posting too often.  I don’t have the time to stage a photo shoot with my book nor do I want to scour the internet for images.  I’ll use Litsy for only strategic marketing or promotional purposes.

Also as I was writing this article, Litsy announced they were going to be offline for maintenance purposes and it would only affect the app for about two hours.  However, once the site was back up, there were major issues, people couldn’t see their notifications, or search the database for basic information.  It took a better chunk of the day for them to get the site back up and running normally again.  And since their site only allows 300 character posts, they had to take a screenshot of a Facebook post along with an apology.  Apparently, even their admins and support staff aren’t immune to the rules.

Litsy Explanation Full
My screenshot of a screenshot of a Facebook post.

 

I’ve never experienced anything like this with an app before.  I’m hoping this isn’t a frequent thing with Litsy.

The Verdict

All in all, I think Litsy is a great addition to the online book world.  Mainly, because they reach the younger demographic that live on their phones and love to take selfies.  Honestly, I believe Litsy could be a good thing for authors writing in the YA and romance genres since their demographic is mostly young and female.  However, like Snapchat, Litsy, may take some getting used to but I think it could be worth it for those having a hard time targeting Millennials and Gen Y using other channels.

 

Well what do you think, have you tried Litsy?  If so, let me know in the comments section.

Business, Indie Publishing, Marketing, Publishing, Social Media

The Future Of Book Publishing: Figuring Out The Next Move

Rachel Rueben
The Future Of Publishing
Image via Pixabay

It’s 2018, and 2017 is finally behind us which has a lot of authors wondering, what’s next?  Well, I took out my crystal ball and tried to see what the future holds for the publishing industry?  Will bots replace authors?  Short answer—not anytime soon.  Will AI technology replace word processing software like Microsoft Word and Scrivener?  In a nutshell—not yet.  Do we finally get our jet packs?  Again—not anytime soon.  So what will change next year?  Well, read on and find out…

Prediction #1: No More Superstars

It was pointed out at one news outlet that there were no breakout books in 2017.  Many blamed the slow down due to various political elections around the world and although, that could be the case, it could also be an ominous trend.  One only has to look to the music and movie industries to see where ours is heading post digital revolution.  For the past ten years, shelf space at brick and mortar stores has been disappearing and there are no indications that trend will cease.  When Barnes & Noble announced they would focus less on books, and applied for a liquor license, the publishing industry shuddered.  Amazon alone, now controls 71% of the ebook market, and accounts for 37% of all print book sales in the U.S. and has no serious rivals as of this posting.  This leaves the publishing industry at a huge disadvantage.

Major publishers are finding it harder and harder to introduce new books to the masses which has them turning to their backlists in order to make a profit.  Also, it’s been reported over the past few years, that midlist authors are being unceremoniously cut loose by major publishers.  So what does this mean to indie authors?  It means that the industry is getting careful about their spending and they’re doing everything they can to squeeze every last dime out all of their intellectual properties.  Many authors will have to either move on to another line of work, or seriously consider self-publishing.  This will ultimately mean more competition for indie authors.
In fact on the Creative Penn, this was discussed and the conclusion was made that the superstars like J.K. Rowling and Stephen King will become a thing of the past.  Mainly, because there won’t be any money to invest in an author’s career anymore.  This will lead to self-publishing becoming a default setting in an author’s early career.  In other words, self-publishing will become the norm and the only way to get a contract with a large publisher. That’s if large publishers can remain relevant.

Prediction #2: Social Media Is Going To Get A Lot Harder

In October, Facebook, began dividing their user’s newsfeeds in two, between personal and promotional posts in an experiment.  Without warning, people in six countries found their newsfeeds had changed, dramatically.  It was similar to what email services like Gmail and Outlook, did when they divided their inboxes between promotional and primary tabs.  Though Facebook says it doesn’t plan on rolling out these changes to every single country just yet, it does makes sense to begin shifting your marketing plan away from your page and possibly focus more on Facebook groups or maybe consider spending money to get your posts seen.

Prediction #3: Authors May Turn To Mobile Apps & Texting Services To Reach Readers Directly

With the effectiveness of email and social media marketing coming into question, those authors who went mobile won’t sweat it too much.  Believe it or not, apps and texting services aren’t for big businesses anymore, celebrities, athletes and even musicians are embracing the technology.  Romance author, H.M. Ward, said during an interview at the Self-Publishing Formula that most of her readers open her emails on their phones which is why she has a texting service to reach them now.  However, she does also say that your list has to be worth it (profitable) to warrant the expense.  The good news here is, is that these options are becoming less expensive with each passing year which, is perfect timing for authors looking for a new way to connect directly with their readers.

Prediction #4: AIs Will Make Books More Accessible   

You’ve probably heard by now that podcasts and audiobooks are very popular in this busy world we live in.  Instead of mindless corporate playlists on the radio, people are listening to niche podcasts and even audiobooks on their way to work, or at the gym.  Amazon saw this coming and developed their AI, Amazon Echo, to easily link with their ebooks and Audible library.  So readers can now have their audiobooks accessed and played while, ebooks can be read by Amazon’s AI for free.  Google and Apple are likely going to follow suit because they also have AIs and a somewhat healthy book catalog.  In fact, it’s believed that AI technology will only continue to evolve and affect every area of our lives from healthcare, to warfare.  Physicist and author, Stephen Hawking, has gone on record predicting that AIs will eventually take over the world.

Prediction #5: Virtual & Augmented Reality Will Present New Opportunities

In October of 2017, Harry Potter fans were treated to a thrill when Google announced it would be offering on their virtual reality platform Daydream, a gaming adventure based on the book series.  Also, this past year, The Washington Post, published an augmented reality article based on the Freddie Gray case.  It’s believed that in the future, media outlets will begin using augmented reality more in order to present complex stories.  As if that weren’t enough, The Washington Post also has a robot reporter who already published 850 articles.  Called Heliograf, it is being used to free up staff from redundant projects as well as helping with big data sets.  So what does this all mean?..

It means that it’s not beyond reason that publishers could use this type of technology when presenting both fiction and nonfiction books.  Several decades ago, publishers were producing choose your own adventure books where an author would write alternative endings to a story and readers would decided which one they wanted to follow.  This was popular for a short while but it may be revived if technology evolves.  That could mean interactive books will take on a whole new dimension and authors, as well as publishers, will have a new potential income stream.

It also means that big data is going to play a larger role in aquisitions, meaning data trends will soon play a role in how much a publisher will pay for an intellectual property.

In Closing

I hope I gave a balanced view of the future, there is a lot for indie authors to look forward to as well as several challenges.  Isn’t that always how reality goes?  Now, I’m handing the mic to you, if have any predictions of your own, add them in the comment section.

Advertising, Book Promotion, Indie Publishing, Marketing, Networking, Publishing, Social Media, writing

How To Market Your YA Book Part 2

Rachel Rueben
Book Marketing
Image via Pixabay

A few years ago, I wrote about marketing a YA novel and since then lots of things have changed for one, there are more marketing avenues as well as many more pitfalls.  When I wrote that post in 2013, mobile phone usage was on the rise worldwide and tablets were new.  Fast forward 4 years and mobile phones are a necessity, while tablets are now being used by cats and infants.  I kid you not.

In this post I answer the questions, where are the young people and what do they want?  Also, I address some important trends that are revolutionizing the publishing industry.  So let’s get started…

More Media, More Problems

In the past few years, Facebook, has reigned as the undisputed king of social media with over two billion monthly users but it does have competition particularly, when it comes to reaching young people.  However Facebook tried to resolve that issue by purchasing two popular apps Instagram and What’s App.  Despite that, it’s still hard to find teens on Facebook itself, preferring; Instagram, Snapchat, Kik or Periscope, to the overpopulated, Facebook.  These newer platforms have a growing and active user base of 13-34 year olds, which has the attention of online marketers looking to reach Gen Y and Z.

Why do young people favor these sites you ask?  Because most of them have richer forms of content like video and gifs which are ideal for quick scrolling.  You know they say, a picture is worth a thousand words and this is especially true for short videos which dominate the feeds of most teens.  That means if you want to reach this demographic, you’ll have to use visuals like video and eye-catching images.

Short Is The New Long

The trends in publishing on both the adult and teen market is shorter, serialized books.   In fact, many online retailers have launched programs like; Kindle Singles, Kobo Exclusive Shorts and Nook Snaps which all feature short books.  Even bestselling author James Patterson, has begun focusing on shorter and cheaper works.  It seems those within the publishing industry have been watching indie authors closely.

Your Advertising Has To Be Different

Indie authors have been told to build a strong brand which is good advice but most teens say they don’t feel connected to any particular brand.  In fact, they say most brands don’t understand them at all and sadly, they’re right.  Gone are the days where you could just yell BOGO (Buy One Get One) and get someone’s attention.  Today, the question is can you contribute to the conversation teens are having or are you just trying to take it over?  The advice that most marketers give today is to make your ads look like native content which basically means that your ads shouldn’t look like ads at all.  Your advertising has to add to the conversation —their conversation.  So if your book can’t mesh with what teens are talking about, then it may not be as marketable as you think.

Young People Don’t Wish For Diversity, They Demand It

We live in a global society and this generation of children has grown accustomed to being exposed to different cultures and customs.  Gone are the days of living in a homogenized bubble, young people want to explore and learn, if you can provide these things, you stand to make a splash.  In 2014, the hashtag: #WeNeedMoreDiverseBooks became a movement when a Twitter discussion about the lack of diversity in the children’s genre went viral.  Several major publishers finally heard the cry and began publishing books with diverse worlds and characters.  Since then books like Listen, Slowly, by Thanhha Lai, and The Jumbies, by Tracey Baptiste, have rose to the top of the bestsellers list.

Social Media Influencers Are The New Celebs

Gone are the days where the radio or television executives chose the next big star today, algorithms and SEO determine who gets an audience and who won’t.  The party is online for teens and young adults, because the internet offers them a plethora of choices that traditional media just cannot.  Many of these choices are DIY Youtube channels and Snaps where regular people entertain, post tutorials and review products.  I talked about this in a previous article called: Booktube for Indie Authors which opened the eyes of a lot of authors who knew nothing about this subculture of book reviewers.  To the shock of many marketers, teens consider Youtubers legitimate celebrities right along the lines of Taylor Swift and Kylie Jenner.  This means that to teens, Booktubers are seen in the same league as the New York Times reviewers.

Young People Aren’t Difficult, They’re Different!

This paragraph may anger a few people but I have to tell it like it is.  Many older people fall into the same trap of previous generations who criticized or dismissed their youth and did so at their own peril.  When the World War II Generation ignored the Baby Boomers (think Vietnam), they in turn were ignored and marginalized later on in politics, and pop culture.  If you don’t try to understand this generation then everything they say and do will be foreign or scary.  You will miss out on modern culture and even risk losing an opportunity to make relationships which is the backbone of any marketing strategy.  So don’t run from them, do your best to understand them, who knows maybe they will take the time to listen to you as well?

Beta Readers, Book Reviews, Indie Publishing, Marketing, Publishing

Why Book Reviews Are Important: The Stats

Rachel Rueben
why-book-reviews-are-important
Image via Pixabay

Recently, there was an article in Publisher’s Weekly, which featured a literary agent giving his opinion on book reviews.  It was called, “Why Most Amazon Reader Reviews Are Worthless” and despite what the title implies, I agreed with some of his views.  In it, he talked about how publishers used to con their way on to the NY Times bestseller’s list by purchasing books at the outlets they knew the NY Times used to gauge their list.  He then compared it to today’s Amazon algorithm which favors quantity over quality and drives some desperate authors to purchase reviews.  Anyway, he’s right the system is corrupt and always has been but reviews still matter when it comes to online marketing.  Let me show you how…

Reviews Aren’t Important, They’re Vital!

Today’s consumer usually does their research before making a purchase and online reviews either motivate them to buy a product or walk away.  Reviews in fact help them learn about your book from people other than you.  According to a 2014 survey by Bright Local, consumers are 84% likely to trust an online review as much as a personal recommendation.

So how many reviews does it take to form a positive or negative opinion in the mind of the consumer?  According to the survey, after ten reviews 88% of customers have already formed an opinion of a product.  So good reviews are important, don’t let anybody tell you anything different.  In fact, I’ve seen several authors incorporating Amazon reviews onto their websites via widgets.  Another technique I noticed is authors building a sales page for their book and including reviews right after the blurb.  Bestselling indie authors Bella Andre has her reviews right under her blurb as does J.F. Penn.

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Image via WikiCommons

Faking It Until You Make It Or Social Proof?

It’s been said by some marketers that people are sheep and will follow a crowd and sadly it seems to be true in certain aspects.  An old trick used by new restaurants desperate for buzz, was to hire people to stand in line or sit at tables to make the place appear busy.  Even if an identical restaurant was across the street serving the same food, the one that appeared busy was always chosen by patrons.

The psychology behind social proof is the idea of social influence, people following the crowd in order to avoid ridicule or missing out.  And it’s not limited to restaurants, in October of 2016, talk show host Wendy Williams, admitted to hiring screaming teenagers to stand outside of her studio and sit in the audience for pop star Justin Bieber’s television debut (at the 18:10 mark).  She says, they did it to make him look like a big deal.  This practice is called astroturfing and it’s used by politicians, corporations and yes, even artists.

This type of thing isn’t exclusive to show business, there are authors over the years who have used smoke and mirrors to inflate their image. For example, it’s been alleged that sci-fi author and founder of Scientology, L.Ron Hubbard’s followers purchased his books by the dozens to make him appear like a big deal after his death in 1986.  By the way, this  kind of stuff is considered black hat (unethical) marketing but that doesn’t stop a lot of desperate people who need that fifteen minutes of fame.

Back To The Point…

The reason why celebrities and artists do this is because it works.  I don’t recommend you buy fake reviews and astroturf your Amazon page because with technology today, that can be easily detected.  However I do recommend that you try to get at least ten good reviews in the beginning.  I know of authors who passively solicit for reviews years after their book’s been published.  Imagine if you pitch ten reviewers per week and only half of them respond, you’ll still have five new reviews per week.  That adds up to 260 at the end of the year.  Also, don’t stop at Amazon, try to get good reviews on Goodreads, as well as any other major outlet your book is sold.

In Closing

I know we grew up thinking that books made it to the bestseller’s list based on merit and popularity but that’s not 100% true.  The missing piece to this equation is hard work and smart marketing, you don’t have to be sleazy and trick people into thinking your books are popular.  If you’re in this for the long haul and want a career in publishing, then time is on your side.  I believe people who focus on their fifteen minutes of fame are selling themselves short.  Most readers these days don’t care if a book was a NYT bestseller, that’s been proven, but what does matter is if you connect with readers through your work.  The readers matter the most, not the lists or awards because without our readers all those things are meaningless.  This is the biggest reason why genuine book reviews not only matter but are vital.

Business, Indie Publishing, Marketing, Publishing, writing

Should Authors Go Exclusive With Amazon in 2017?

Rachel Rueben
instagram_88e1c8b741
Image via Wikimedia Commons

Several years ago, Amazon’s KDP introduced their Select program which allowed authors who published through them to give away books for free on their site if they signed a 90 day exclusivity agreement.  Thinking 90 days wasn’t much of a commitment, many authors agreed to it.  Fast forward to 2017, where Amazon is selling over 30 million books and nearly one million of those books are free on any given day flooding the market.  The numbers alone have authors questioning whether going exclusive with Amazon is even worth it anymore?

Your Goals Matter

No matter what the latest marketing tricks are at the moment they mean very little if you haven’t a clear definition of where you want to go.  It’s vital that you ask yourself before you sign any long term contract, why am I doing this?  Do I wish to…

  • Make money
  • Get more reviews
  • Build up an email list
  • Sign with a traditional publisher and go hybrid
  • Become an influencer in a chosen field
  • Build a publishing company
  • Republish a back catalog of work
  • Build a career as an author

As you can see there are a myriad of reasons why people self-publish and many of them don’t require you signing an exclusivity contract.  For example, if you want to sign with a traditional publisher then it might not be wise to lock your work up for any period of time.  If interested, a publisher may insist you take down the book and you can’t do that if you’re only 10 days into your 90 day exclusivity agreement.

Why Ask For An Exclusive?

It’s not uncommon for retailers like Amazon, to ask for exclusives, most retailers do.  It gives them the competitive edge because they offer something their competition doesn’t.  However the manufacturer or vendor (in this case you), usually gets something in return like favorable product placement in exchange for the temporary inconvenience and loss of profit.  Yet with Amazon, there is no such negotiation and instead of favorable product placement, books that are put into the Select program are put on a special list away from the paid books when they go free.  This is the reverse of favorable product placement since the paid books are the default page that shoppers are sent to.  It’s great for Amazon, who gets exclusive content but bad for indie authors who get relegated to a nebulous tab.

Amazon's KDP Select Program

The Psychology Behind it

Lots of authors believe that exclusives are done because retailers and publishers are greedy and though that’s debatable, retailers actually do it because it works.   It’s been proven that products which are available on a limited basis create a scarcity mentality in the minds of shoppers.  It triggers the buy impulse when customers believe this opportunity may never come by again.  Exclusives also make customers feel a sense of appreciation because the retailer is offering them this valuable product making them feel part of a privileged group.

Yeah, But Why Free?

In retail the competition is fierce, these days customers are much savvier and do their research before making purchases.  If they find a product at an online retailer at a cheaper price, that’s called showrooming and it forces brick and mortar stores to match that price or even beat it.  This is how Amazon kills the competition after all, what’s cheaper than free?  Even other book retailers like Barnes & Noble can’t compete with this and have begun positioning their business away from books.

Exclusivity Vs Expanded Distribution

Believe it or not, many startup companies claim exclusivity as the secret ingredient to their success.  However, it’s not the only ingredient, exclusivity should be part of a deeper marketing strategy.  Authors should be leveraging this exclusive period to collect reviews or email addresses for their lists.  Don’t just sit on your duff during this period, there is still work to do —plan the next move.  Ultimately that should mean branching out to other retailers like Kobo, Apple and Barnes & Noble.

 Authors Remaining Exclusive: A Thought

There are experts who used to advise indie authors to remain in the KDP Select program permanently.  They proposed that indies use one book as a loss leader and forgo immediate profits for long term ones.  They suggest that authors use their free book to collect email addresses and sell the next book.  However this may not be a good idea today because several indie authors now report their downloads dropping after the second or third time around in Select.  So going exclusive with Amazon will work but only for so long.  Today, we have no choice but to make our books available everywhere you possibly can because the old tricks don’t work anymore.  Another thing we indie authors have to consider is the inevitable fact that sometime in the future another company will knock Amazon off its perch and wouldn’t it be nice if all our eggs weren’t in one basket?

Indie Publishing, Publishing, writing

Becoming An Amazon Bestseller: The Stats

Rachel Rueben
instagram_197add1ce5
Pic via Pexels

Before I get started, I wanted to let you know that this isn’t one of those, why you’ll never be a bestseller type articles, it’s an article about mathematical odds.  The odds about Amazon’s KU program and the amount of competition you’ll face on just Amazon alone.  There’s this prevailing notion that it’s simple to become a bestseller on Amazon, after all they make it so easy to publish that it seems success is inevitable, right?  Yet what a lot of indie authors don’t understand is that we need to know the industry before we publish.  For example, how saturated is the market?  Should we bother creating an audio book?  What are the odds for authors published through Amazon to actually make it to the bestseller’s list?

Using Amazon’s own numbers, I’ve put together some facts that will either confirm your suspicions or utterly shock you.

How Many Books?

It’s estimated that Amazon holds 65% of all new online print and digital sales in the U.S. and that percentage is expected to go up as Barnes & Noble (their second biggest competitor) changes their business model which will now focus less on books.

(These numbers are from Amazon.com as of January 12, 2017):

They sell over 33 million books on their website which includes:

  • 19 million Paperback
  • 6 million Hardcover
  • 8 million Digital
  • 305,000 Audio
  • 500,000 Large Print

That means if you have 1 book, your odds are 1 in 33,000,000 and the more books you publish, the better your odds get. Now I know these sound like astronomical odds but when you consider that most major publishers and indie authors don’t market their books at all, your odds improve ever so slightly.

On a side note, your odds of winning the lottery are around 1 in 13,000,000.   Just thought I’d throw that in.

Is Going Exclusive The Ticket To Exposure on Amazon?

In 2011, Amazon created a program called Amazon Select that would help self-published authors get better visibility on their website.  For 5 days you could set your book’s price at free, but as you can imagine there was a catch, authors had to agree to a 90 exclusive period.  That meant no selling your book at any other retailers.  This seemed like a no-brainer and many authors signed away but it’s now 6 years later and Amazon’s website contains over 912,000 free ebooks as I type this (January 12th 2017).  Some of these books are permafree while most are enrolled in Select.

Kindle Unlimited

I wouldn’t be doing my job if I didn’t mention the most controversial program in self-publishing history and that’s the Kindle Unlimited program.  It’s Amazon’s subscription service where readers can read, or listen to an unlimited amount of books and magazines for a monthly fee of $9.99.  As of today, Amazon boasts of 1 million titles in that program.

amazon-kindle-unlimited

 

So How Do We Stand Out From The Others?

If you’re feeling demoralized after reading all these stats don’t, selling books was never easy just ask any publisher.  Yet as we speak the barriers that once prevented indie authors from getting into libraries and major chain stores are slowly disappearing.  So it is truly the best of times and the worst of times for the publishing industry.  Now begs the question what do we do about it?  Here are a few suggestions for improving your odds:

  • Create a reasonable business plan and make yourself accountable.
  • Build a platform
  • Publish during popular shopping holidays; Thanksgiving, Christmas, Halloween, etc.
  • Make your book available at retailers and libraries.
  • Network with influencers and other indie authors
  • Have a marketing budget because effective marketing costs money.

It goes without saying that the earlier you start the better, this way you can pivot and maneuver in case of a catastrophe.  Just this past year alone, several sites like All Romance Ebooks, Ellora’s Cave, and Pixel of Ink closed their doors for good, citing Amazon or the market at large as the reason for their closing.  Needless to say, this forced some authors to scramble and find alternatives.

The Moral of This Story

The moral of course is that success comes in many forms not just bestseller lists and awards.  For some of us, just being able to make a living doing what we love is more than enough validation.  And though the competition is tough, it is possible to break through with a lot of hard work, smart marketing strategies and of course, perseverance.  However we still need to be realistic about what we’re willing and able to do because honesty is the foundation of any great career.