Last week I talked about FREE e-books, and we covered both the good news and the bad news. You can read here if you missed my take on how freebies have changed the landscape of book selling and author promotion. You can also get the scoop on how Amazon’s algorithms are changing to meet those market trends over at Nina Pierce’s blog that was posted just yesterday. Some folks are a bit nervous about what Amazon has up their sleeve next. The conglomerate seems to be masterfully diabolical about staying one step ahead of the curve. Changes are happening very quickly in the publishing world and it’s tough to keep up, but I just try to keep in mind, as I’ve said before, that my journey is all a grand experiment. I try a dash of this, a dollop of that, and hope to find the magical combinations that create the perfect recipe for success.
Sometimes you get lucky and hit the market just right, and other times, you put it all out there and find that you’ve missed the boat. What worked a few months ago will likely not work today. The trick seems to be staying fluid and riding whatever wave you happen to be on until the next one comes along. To quote one of my favorite Disney sidekicks, Dory from Finding Nemo, “Just keep swimmin’”.
I also live by the Marine Corp motto, “Adapt, improvise, and overcome.” I try to do one big promotional event per month and I’m taking opportunities as they come, choosing what I think will be the most effective way for me to move forward and build my readership. I recognize that it’s not just about making money, which means I’m willing to play with pricing to see if it helps with my overall growth and name recognition.
I’d like to touch on another common cross-promotional tool that has been very successful over the past year or two for indie-pubbed authors—the .99 cent e-book. A year ago, this was the hottest promotional tool out there, and people were making best seller’s lists all over the place in response to those wildly successful sales. Of course you have to sell a whole lot of books to make any money, but hitting the lists was worth the short term loss for the long term gain of leading readers to your door, especially if you have multiple titles.
That .99 cent price point doesn’t have quite the same appeal now that there are so many free e-books available and there is a general attitude that cheap e-books may not be of the same quality as higher priced books. On the other hand, readers are having kittens over having to pay 9.99-12.99 for e-books that may, in fact, be more expensive than the print copies. It seems the sweet spot of pricing, according to Mark Coker, CEO of Smashwords, is 2.99-4.99.
Most readers are willing to take a chance on a new author if the book is for free, but if they are going to pay .99 cents, they would rather pay a few extra dollars to buy a quality read from a familiar author who has a few books available and has gained some recognition through a bunch of good reviews or by being on the top 100 list. I’m here to tell you folks that there are many awesome reads on those .99 cent shelves. Sometimes a bargain is just that, a bargain. If you are a reader, keep checking those .99 cent titles and I’ll bet you find some gems!
I am also still a huge advocate of cross-promotion (look for my guest post on the WG2E this Thursday.) I’ve been part of a few of these group promos and the experience is well worth the effort, whether you sell a ton of books or not. I’ve learned a lot about how to work in a large group, I’ve met some wonderfully tech savvy and innovative people, and I’ve found support among like-minded individuals who all have a common goal. Nothing to sneeze at, I assure you. Best of all, it’s one more way to get great books into the hands of readers for a great price, as D.D. Scott likes to say.
So, beginning this Friday, June 8th, and continuing until June 22nd, a group of over one hundred and fifty authors from the Indie Romance Ink loop will put their books on sale for .99 cents. The Book Lover’s Buffet was first offered as a holiday promotion back in December. I didn’t make a lot of money on the sale, but I did make a best sellers list for the first time, and it gave me the confidence boost I needed, to know that I could manage this Indie-pub gig.
When the invite came up to do it again, I jumped. It will be interesting to see how a .99 cent promotion goes with the current buzz claiming the wave has come and gone. My feeling is that I have nothing to lose, and that if I can help some other authors sell their books, reach a few new readers, and have some fun along the way, it’s worth another wild ride. Stay tuned, I’ll keep you posted on results.
Bookmark this page so you can check back on Friday when the Book Lovers Buffet Vacation Getaway site goes live and you can browse the list of over 150 indie titles, all for .99 cents. Be sure to enter for your chance to win some great prizes.
How do you think the trends in e-book buying will evolve? Will readers shun .99 Cent e-books in favor of FREE and higher priced books? I’d love to hear your predictions.