On the first of each month, the book publishers reset the tally for books. Each month, I hold my breath waiting for sales to happen. Which publisher will be the first? How long will it take to make this month’s first sale. Will it be sold in Europe (which is ahead of the US by 6 to 7 hours) or in the US. Since the majority of my sales are from the US, it is a fairly good chance that my first sale will be from within the states. But, who knows? Since publishing my book on June 25 this year, I play these mind games as I wait for that big goose egg to disappear.
On the first of the month, I also take a look at sales. To date, Kindle outsells all other publishers, with CreateSpace a second. Since such a low percentage of my ebook sales come from publishers other than Kindle, I am reconsidering KDP Select. I had initially rejected signing into this program because it requires a three-month exclusivity. Looking at the statistical data, I wonder if the book would be read by more people and if it would be more profitable to do so.
Enrolling a book in KDP Select makes the book available to Amazon Prime customers who can borrow the book from the Kindle Owners Lending Library for free and without due dates.
According to the FAQ, a writer’s share of the “Kindle Owners’ Lending Library Fund is calculated based on a share of the total number of qualified borrows of all participating KDP titles. For example, if the monthly fund amount is $500,000 (an amount that KDP magically comes up with through some closely-guarded algorithm), the total qualified borrows of all participating KDP titles is 100,000, and your book was borrowed 1,500 times, you will earn 1.5% (1,500/100,000 = 1.5%), or $7,500 for that month.” That is certainly enticing, but what would it do for me as a new author? If I were to loan 50 books, I would earn $300 (50/100,000 = .0005 x$600, 000 (the amount in the KDP Fund for September). In addition, according to the KDP Select Terms and Conditions, I would still continue to earn royalties from the ebook sales on Amazon. Each month, I would get a royalty check that would include payment for the books borrowed from the Kindle Direct Lending Library as well as the money earned from ebook sales.
Those numbers are appealing, but what I like is the potential exposure. The more people who read the book, the better chances for reviews and word-of-mouth referrals. So, is this potential worth limiting the ebook sales to Kindle?
In her three-part post “Indie Authors – Latest KDP Select Results,” Renée Pawlish talks about the marketing side of using KDP Select. To be successful (a large number of borrowed books) requires more than just a free-download day; it requires a coordinated advertising effort, which means planning, developing a contact list, paid advertising, and more. Ms. Pawlish even redesigned her cover to help entice sales. I learned about Pixel of Ink, a Facebook page dedicated to free and bargain Kindle Books. This is a great page for both authors and readers. She also talks about Digital Book Today, a Website that informs readers of limited-time offers while recommending titles with a minimum of 4.0+ stars and 10+ reviews. Women of the Way: Embracing the Camino needs one more review to meet this criterion.
In part two, Ms.Pawlish reanalyzes her marketing approach and makes recommendations to indie authors: some are obvious—write a good book; others are more strategic—post as a guest around the time of the campaign. In part three, she discusses “Amazon changing algorithms to the detriment of indie authors.” In her case, she questions whether to continue on with KDP Select, especially if she is making more money on ebook sales. After reading these three posts, I realize that I need more research before deciding on KDP select, that the promising star is not as shiny as it first seemed, and that, no matter which decision I make, I need to work at promoting the book, getting more reviews, and having more readers talk about the book.
From comments on Goodreads Authors/Readers discussion Publishing & Marketing Tips > KDP Select Results, some authors responded affirmatively to getting a big spike in downloads, additional reviews, and making money from using the program. There is also a sense that the program is not worth it and some author’s can’t wait for their 90-day contract to end. This “I love it” versus “I hate it” attitude makes if difficult for me to decide whether or not to use the program.
One person commented that many readers download free books but don’t get to read them for months. I am guilty of the same. I currently have over forty books in my backlog, some I paid for, others were freebies. Consequently, a free download may not have immediate results. That desired book review and word-of-mouth referral may not happen for months. For this reason, the benefits of using KDP may be long-range.
I am postponing making the KDP Select decision for at least one more month. I want to develop a marketing strategy that will work with that program, should I choose it. In the meantime, I will continue to promote the book and to get feedback from authors that I know are currently enrolled in the program. Are you using KDP Select? If so, how do you weigh in—for or against—and why?
P.S. My first sale was on Kindle, late in the day.
