Tag: Kelly Schuknecht

ebooks, Elise Speaks, from the archives, Kelly Speaks, Uncategorized

From the Archives: “Top 5 Considerations for Effectively Pricing Your Self-Published Book”

Welcome back to our Tuesday segment, where we’ll be revisiting some of our most popular posts from the last few years.  What’s stayed the same?  And what’s changed?  We’ll be updating you on the facts, and taking a new (and hopefully refreshing) angle on a few timeless classics of Self Publishing Advisor.

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[ Originally posted: February 3rd, 2011 ]

“Is my book too expensive?”

“Am I selling myself short?”

Traditionally-published authors usually don’t have any control over the price of their book. As a self-published author, though, how can you make sure you have priced your book appropriately? There is no hard and fast rule, unfortunately. However, here are a few things to consider while coming up with a pricing strategy for self-publishing a book:

  1. How much royalty will you earn from every book sale? If you’re planning on writing full-time, you want to make sure you’re making a sustainable amount per book ($1.50 – $2.75 is reasonable).
  2. What is your target market? Is your intended reader a teenager or an affluent attorney? You want to keep your audience in mind so that you don’t price yourself out of the market. You won’t be very successful if your ideal reader can’t afford to buy your book.
  3. Where do you want to sell your book? Trade discounts often determine where a book is sold. Most online retailers are fine with a short trade discount (less than 40%). However, big box stores, such as Borders, Barnes&Noble, etc. require at least a 50% discount (in addition to a solid marketing plan and full return-ability) to consider carrying your book. If you can’t imagine self-publishing your book without it being stocked on the shelves of your nearest B&N, you should consider going with 50% (though it will cut down on your royalties).
  4. How has your competition priced their books? Research books similar to yours. Make sure the page count is similar, it was published recently, and hopefully self-published. You don’t want to price your book too high above (or too low beneath) these books.
  5. Have you asked an expert? Now is not the time to guess. This is your livelihood. Your best bet is to employ the services of someone who is already familiar with the self-publishing industry, like a Publishing Consultant. These people know the book business, and they can help you with questions like these.

DISCUSSION: How did you decide on a price for your book?

– by Elise L. Connors

I absolutely love Elise’s post on ebook pricing, especially since most of the points hold steady in the face of a rapidly changing market.  There’s very little that’s the same in 2016 as it used to be in 2012 when it comes to the world of self-publishing in digital formats––except for this!  And while some figures may require updating––and Borders has gone altogether out of business––I cannot think of better advice than what Elise gave us in these five simple points.

online shopping

One recent event has, of course, dramatically altered the parameters by which you should set your ebook’s price: Hachette won its suit against Amazon.  What does this mean?  Why should indie authors care about a battle between an online retailer and a traditional publishing company?  I can think of several reasons.

One: Amazon is far and away the largest online retailer of ebooks, outpacing Barnes & Noble by leaps and bounds and leaving Apple’s iBook store and the Google Play store to contend for the last percentages of the market with their book subscription services and bundles.

And two: Hachette’s win means that Amazon no longer gets to keep ebook prices artificially low––justifiably low, in Amazon’s opinion––as the prices of ebooks put out by the Big Five traditional publishing houses cannot be reduced by the third party online seller.  As a consequence, ebook prices have been soaring––as the Big Five set higher prices to rake in more profit, many self-publishing authors are following suit because of the luxury principle; they don’t want their books to be assumed inferior in quality just because they’re less expensive.

A lot of factors go into your price-setting decision.  Are you looking mostly for exposure?  If you are, then selling your book at a dramatically reduced price (say, a $0.99 deal) may well get your book in front of more pairs of eyes than if you price it higher (say, around $9.99).  A low price might also help lure in readers who are itching to try a new book but only have a little free cash to risk.  But a low price cuts into your royalties, and for Amazon especially the highest royalties (around 70%) come when you price your book around the $2.99 sweet spot.  You may lose a few risk-conscious readers, but you only need one reader to purchase your book to every two who turn away in order to break even in your royalties when you boost your price to $2.99.

Your book’s genre and length can also play a role.  Remember Elise’s fourth point, above?  If you’ve written a book that falls neatly to a particular genre (or perhaps, relates un-neatly to several) then you should take a long look at how similar novels of a similar length and style are being priced.  All books are wonderful things and no genre is inherently more “literary” than another, but a pragmatic author must recognize that human perception is flawed and nowhere near as egalitarian as we’d like.  This is to say, romances, Westerns, science fiction, and fantasy tend to be priced more cheaply than, say, a travelogue or political exposé.  You don’t want to price your book outside of your ideal reader’s expected range.

In a lot of ways, it’s easy to lose sight of your vision for your book when the price dominates conversation.  Here’s my advice for pricing an ebook in 2016: Do your research, consult an expert, and make the call.  Don’t spend too much time deliberating, or you’re missing out on the most important thing that you as an author can be doing: writing another book!  ♠

KellyABOUT KELLY SCHUKNECHT: Kelly Schuknecht is the Executive Vice President of Outskirts Press. In addition to her contributions to the Outskirts Press blog at blog.outskirtspress.com, Kelly and a group of talented marketing experts offer book marketing services, support, and products to not only published Outskirts Press authors, but to all authors and professionals who are interested in marketing their books and/or careers. Learn more about Kelly on her blog, kellyschuknecht.com.
Kelly Speaks, news from the self publishing world, self publishing news

Self-Publishing News: 1.18.2016

This week in the world of self-publishing:

“They say everyone has at least one good book in them,” writes Toby Walne for ThisIsMoney.co.uk in his January 16th article, “and thanks to the internet there is no longer an excuse not to get it published.”  He is speaking, of course, about the ebook revolution, which has long been entangled with both the digital revolution, the millennial generation, and self-publishing.  Walne interviews author and expert Damien Fahy, “who runs money saving website MoneytotheMasses and is author of an ebook entitled 30 Day Money Plan” to get an idea for what indie authors should be looking to do in 2016.  Says Fahy, “just getting published is not enough – you must also think how you are going to get people to buy your book.”  Fahy and Walne walk readers through a series of recommendations––how to go about giving away free copies of your book for review, how to offer your book in multiple formats through a variety of online platforms, and when not to close the door on a publishing company (to name a few)––before closing with a commentary on crowdfunding possibilities.  For more information, see the original article here.

Jennifer McCartney of Publisher’s Weekly pulls no punches in this January 15th article, which lays the groundwork for what many industry experts believe we can expect of the coming year.  McCartney begins her preview with a brief retrospective, touching upon the self-publishing “successes” and general market trends of 2015 with particular mention given over to Andy Weir’s The Martian, Jamie McGuire’s Beautiful Redemption, Paul Kingsnorth’s The Wake, and the popularization of crowdfunding for self-publishing authors.  But McCartney doesn’t dwell on the past for long; most of her piece is dedicated to emerging possibilities.  She names McGuire as just one of a long list of authors who are either switching from traditional publishing to self-publishing or who are supplementing their traditionally-published books with side projects which are published through indie platforms––and in McCartney’s eyes, this is just the tip of the iceberg.  What else does she expect to see in 2016?  Preorders and “microtargeted subgenres” will continue to be important in driving sales for self-publishing authors; short stories and box subscription deals are growing in popularity as readers switch over to reading on their mobile devices; and the ever-present struggle to balance print and digital sales in a market where brick-and-mortar stores and public libraries remain mostly hostile to keeping self-published books on the shelf will remain at the forefront of indie challenges.  For the rest of McCartney’s article, click here.

In our second of two articles released in this week’s Publisher’s Weekly, Jane Friedman presents PW‘s readers with a series of models for indie publication in order to address the fundamental problem of newcomers to the market: “it’s hard to know whom to hire, how much to invest, and what type of marketing and publicity will make a difference.”  Her five “strategic” models are:

  1. “Reach Out Directly to an Established Audience”
  2. “Always Be Producing”
  3. “Produce Across Multiple Mediums or Channels”
  4. “Know the Right People or Start Meeting Authors with Pull,” and to create the
  5. “Right Concept at the Right Time for a Specific Market”

Friedman, who “teaches digital media and publishing at the University of Virginia and is the former publisher of Writer’s Digest,” is something of an expert on the matter––and luckily for everyone, she doesn’t just list bullet points but rather spends a fair bit of time deconstructing each point for the interested reader.  For all of that wonderfully useful information, don’t forget to follow the link!

spa-news

As a self-publishing author, you may find it helpful to stay up-to-date on the trends and news related to the self-publishing industry.This will help you make informed decisions before, during and after the self-publishing process, which will lead to a greater self-publishing experience. To help you stay current on self-publishing topics, simply visit our blog every Monday to find out the hottest news. If you have other big news to share, please comment below.

KellyABOUT KELLY SCHUKNECHT: Kelly Schuknecht is the Executive Vice President of Outskirts Press. In addition to her contributions to the Outskirts Press blog at blog.outskirtspress.com, Kelly and a group of talented marketing experts offer book marketing services, support, and products to not only published Outskirts Press authors, but to all authors and professionals who are interested in marketing their books and/or careers. Learn more about Kelly on her blog, kellyschuknecht.com.

Book Marketing, Kelly Speaks, Marketing Your Self-Published Book, search engine optimization, Social Media Marketing, Uncategorized

Marketing BASICS : Building an Online Presence

As I mentioned in last week’s post, I’m taking Wednesdays back to the B.A.S.I.C.S. of marketing for your self-published book.  And step one of every really effective marketing strategy in the silicon age requires us to tackle the “B” in B.A.S.I.C.S.: Building an Online Presence.  Given that you’re reading this blog post on the web, I’m going to assume you have already been initiated into the manifold wonders of the internet age, but I’m also going to assume that you’re starting your latest book marketing campaign from the ground up––which is to say, you’re looking to begin with that all-important keystone of any such strategy: motivation.

SIDE NOTE

I’m not going to lie: marketing your self-published book is hard.  Really hard.  It will requires a lot of time, energy, and trust––trust in yourself and your own capacity to make wise choices that fit your own project.  Without this trust, authors risk losing focus as they get sucked into a whirlpool of self-doubt and second-guessing.  I recommend skipping this arduous process entirely by embracing your own insight and the sometimes radical notion that you really can make good choices.  I know that you can, and I’m a perfect stranger!  Just think: you may be fixating at present on some of your own limitations, but you also have a front-row seat to your personal portfolio of strengths and skills!  Let’s put them to work in marketing.

BACK TO THE PROGRAM

The real reason to begin your book marketing campaign with a strong web presence is the simple fact that a comprehensive bundle of platforms––such as an author website, a blog site, as well as accounts on Facebook, Goodreads, Twitter, and even Instagram or Snapchat––is both an effective and inexpensive way to reach new readers.  We’ve written about many of these platforms before here on Self Publishing Advisor, in last year’s Social Media Primer and as far back as 2013 with Wendy’s discourse on improving blogs, but the fact remains that authors are presented with something of a moving target.

New platforms are becoming available all of the time, while less popular ones or ones that have outlived their usefulness are archived or excised from the web altogether.  This is why I used the key phrase “comprehensive bundle of platforms” above: to indicate that an effective presence requires a flexible, adaptable set of options––and above all, the freedom to experiment with emerging technologies as well as the courage to abandon unhelpful ones.  My own recent experiences with Twitter and Snapchat make for a good illustration; I’ve found a healthy and important niche for my Twitter use in broadcasting updates and news about my current work and upcoming publications, but I haven’t quite found a marketable use for Snapchat.  I tried, enjoyed it for a spell, and could even see quite a lot of potential there … but I could never quite invest in it the creative energy required to make it a success.  So I shut my account down in order to spend that time more effectively on platforms that better fit with my personality and web usage.

TWO TIPS

  • Your websites and blogs should be streamlined and easy to navigate; they must both catch a visitor’s eye and capture a visitor’s interest in regards to content, as well as make it easy for even the most unfamiliar of visitors to learn about and buy your book.  In building your websites, you can choose from among a whole host of free services, including WordPress (which is what we use), or Blogspot, or Tumblr, but whatever route you take you ought to consider purchasing your own domain name.  Make it something intuitive and easy to remember; many authors choose to use either their pen-names or the titles of their books as domain name inspiration.
  • Consistency is key.  Whether we’re talking about blog posts or social media updates, creating a sense of routine and reliability is important.  It both makes you more findable (especially if you integrate the tricks of SEO or Search Engine Optimization into your postings) and more trustworthy.  You  might even work up a schedule of what sorts of materials to post on which days of the week, as we do here at Self Publishing Advisor.  You know from following this blog in the past that every Monday we run through the major self-publishing related news items of the week, and every Saturday we run a book review compendium of a self-published book.  Because you know this, you already know that a) you can trust us to post new material on a regular basis, and b) which days of the week you’re most interested in spending some quality time on our website.

So that’s the “B” in B.A.S.I.C.S. … or at least, that’s a place to start!  There’s so much more to come.

Thank you for reading!  If you have any questions, comments, suggestions, or contributions, please use the comment field below or drop us a line at selfpublishingadvice@gmail.com.  And remember to check back each Wednesday for your weekly dose of marketing musings from one indie, hybrid, and self-published author to another. ♠

KellyABOUT KELLY SCHUKNECHT: Kelly Schuknecht is the Executive Vice President of Outskirts Press. In addition to her contributions to the Outskirts Press blog at blog.outskirtspress.com, Kelly and a group of talented marketing experts offer book marketing services, support, and products to not only published Outskirts Press authors, but to all authors and professionals who are interested in marketing their books and/or careers. Learn more about Kelly on her blog, kellyschuknecht.com.
from the archives, Kelly Speaks, Self-Publishing, Uncategorized

From the Archives: “Self-publishing’s Strongest According to Inc. Magazine”

Welcome back to our new Tuesday segment, where we’ll be revisiting some of our most popular posts from the last few years.  What’s stayed the same?  And what’s changed?  We’ll be updating you on the facts, and taking a new (and hopefully refreshing) angle on a few timeless classics of Self Publishing Advisor.

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[ Originally posted: August 13th, 2009 ]

Inc500Cover2Inc. Magazine released its annual top 500 fastest growing US businesses yesterday. Outskirts Press, Inc ranked #268 on the list, and exclusive among full-service self publishing firms. With on-demand publications up 132% over the previous year, Outskirts Press finds itself the fastest growing provider in the fastest growing segment of the book publishing industry. Congratulations Outskirts Press.

Author Solutions – the only other self-publishing related provider recognized, came in at 3266 among the top 5000 companies.

Congratulations self-publishing.

– by Karl Schroeder

 

Six years later, Inc. 500 has morphed into the Inc. 5000 but the list remains a stellar launch point for discussions about what industries are seeing success in a mostly-post-recession USA––and not just for the men and women who walk Wall Street.  It remains a fantastic resource for indie and self-publishing authors, too.

Inc. 5000

But first, the bad news: This year, no self-publishing providers made the list.  The good news is that this is because the self-publishing industry has begun to stabilize, diversify, and revisit its offerings in order to better tailor them to the end user.  Because the Inc. 5000 only lists the fastest-growing companies, a stable market fast reaching its maturity just doesn’t quite fall within its purview.

And while indie, hybrid, and self-publishing companies may not have made it into last year’s list in the Inc. 5000, they continue to occupy headlines over at the Digital Book World (see here), Publisher’s Weekly (see here), and one of my personal favorites, Library Journal (see here).  We’ll be following the news within the industry as it emerges this year, and while indications seem to be present that e-book sales remain down from this time two years ago, it may very well be that Hachette’s battle with Amazon and the resulting price hike has driven readers back to print.  That’s a profitable (and surprisingly cheerful) piece of information, I think!  Watch our Monday morning posts for more statistics as companies head into their Spring quarter. ♠

KellyABOUT KELLY SCHUKNECHT: Kelly Schuknecht is the Executive Vice President of Outskirts Press. In addition to her contributions to the Outskirts Press blog at blog.outskirtspress.com, Kelly and a group of talented marketing experts offer book marketing services, support, and products to not only published Outskirts Press authors, but to all authors and professionals who are interested in marketing their books and/or careers. Learn more about Kelly on her blog, kellyschuknecht.com.
amazon, Kelly Speaks, news from the self publishing world, self publishing news, Uncategorized

Self-Publishing News: 1.11.2016

This week in the world of self-publishing:

Corine la Font, in this January 10th article for the Jamaican Gleaner, writes that “it is wise and cost-effective to just obtain the free assigned ISBNs from the platform you are using”–since most platforms provide ISBNs automatically–instead of buying them directly.  Since ISBNs are sold in batches of 10, you may end up with a whole lot more than you need, unless you use a third party service or hybrid publishing company.  ISBNs, for those who aspire to self-publish but have yet to do so, are numeric codes of either 10 or 13 digits that publishing companies, booksellers, readers, and others will use to identify your book as well as the format in which your book is published.  “Ideally,” says la Font, “each format should have its own ISBN, that is print, audio and Kindle/ebook, but what tends to happen is that Amazon, when publishing the ebook of the same title, assigns an ASIN (a topic for another article) to that specific format.”  ISBNs are a key element of the publication process; for more information, visit la Font’s original article here!

Under the “Booklife Report” heading in this week’s Publisher’s Weekly roundup–published on January 10th–-you’ll find a link to an earlier 2016 article by Leylha Ahuile on the explosion of opportunities for self-publishing authors in the Spanish language market.  While the article itself is only available to Publisher’s Weekly subscribers (leaving us with the tantalizing introductory sentence: “Self-publishing is a well-established part of the English-language book trade, but Spanish-language self-publishing is just starting to take off”), it reminds me of this 2013 article by Tina Folsom of the Indie Voice blog, titled “Exploring the Foreign Markets for Self-Publishing.”  Ahuile’s article may claim that opportunities in Spanish language markets have some element of newness to them, but Folsom’s piece and many other articles besides have long been touting the possible benefits of looking beyond the tangible boundaries of geographical divides and the abstract boundaries of language.  Whether you’re looking to self-publish in English and translate your book to Spanish, or publish directly in Spanish, don’t neglect to consider the fact there are more native Spanish speakers and Spanish-language readers in the world than there are native English speakers.  And this doesn’t even touch the percentage of global citizens who speak and read other languages, like Mandarin Chinese!  There has never been a better time to sell your book abroad.

“Penguin Random House, the largest book publisher in the world, is chopping off its self-publishing arm,” writes Amy Wang of the Quartz blog in this January 7th article: “The company said Tuesday (Jan. 5) that it has sold Author Solutions—the self-publishing author-tools platform that it bought in 2012.”  Author Solutions has long been a mainstay of the self-publishing toolbox, but has struggled to emerge from its ownership transfer and other internal problems and to overcome significant obstacles to satisfying end-user demands.  While a sale does not necessarily spell the utter end for Author Solutions, it does seem to indicate a continued slide towards irrelevance as other, better, and easier-to-use options reach a mainstream audience.  Writes Wang, the sale is also an admission of defeat in the battle to stave off market dominance by Amazon, “which already churns out an estimated 85% of self-published titles via its various platforms.”  That’s a tough number to beat.  For more of Wang’s article, follow the link.

“There’s too much grumbling among authors,” says Carol Buchman in this January 7th contribution to The Bookseller.  But Buchman, a self-publishing author of Western fiction based out of Montana’s Flathead Valley, sees a lot of cause for hope: “some people seem to overlook the wonderful benefits of various publishing modes these days,” she says, citing the “freedom to publish and to read in the manner that suits [one] best,” the choice “among e-readers, audio devices, and paper—hardbound or paperback,” and the opportunity for authors to “publish their works in all three formats” as reasons not to despair for the world of words.  “As a storyteller,” she writes, “I’m enthralled by the possibilities in technological development for storytelling.”  She goes on to address “the innovative energy inherent in technology” as an empowering force, and to rally readers and authors alike to a more hopeful, optimistic outlook.  Her full “five-minute manifesto” is available, courtesy of The Bookseller, here!

 

spa-news

As a self-publishing author, you may find it helpful to stay up-to-date on the trends and news related to the self-publishing industry.This will help you make informed decisions before, during and after the self-publishing process, which will lead to a greater self-publishing experience. To help you stay current on self-publishing topics, simply visit our blog every Monday to find out the hottest news. If you have other big news to share, please comment below.

KellyABOUT KELLY SCHUKNECHT: Kelly Schuknecht is the Executive Vice President of Outskirts Press. In addition to her contributions to the Outskirts Press blog at blog.outskirtspress.com, Kelly and a group of talented marketing experts offer book marketing services, support, and products to not only published Outskirts Press authors, but to all authors and professionals who are interested in marketing their books and/or careers. Learn more about Kelly on her blog, kellyschuknecht.com.