Do It Myself Blog – Glenda Watson Hyatt

Your Accessibility Conscience

Amazon Kindle: Still Believing Great Opportunity Exists for Self-Published Authors

Filed under: I'll Do It Myself: The Book — by Glenda at 7:01 pm on Monday, January 23, 2012

I'll Do It Myself on the KindleLast month Amazon announced Kindle Direct Publishing (KDP) Select – "a new option dedicated to KDP authors and publishers worldwide, featuring a fund of $500,000 in December 2011 and at least $6 million in total for 2012! …"

Understanding that early adopters would have a greater chance of substantially gaining from this opportunity, I opted in right away by making my autobiography I’ll Do It Myself available through the Kindle Owners’ Lending Library, which allows eligible U.S. Amazon Prime members to borrow the book. I would earn a royalty – based on a percentage – for each book borrowed.

December’s results

The numbers for December on now in: based on the number of total books borrowed and the month’s available fund of $500,000, each eligible borrow earned a royalty of $1.70. My sincere thank you to the lone Prime member for borrowing my book. It’s a start!

For fun, I did the math…doubling the number of borrows each month for a year, the royalty cheque for November 2012 would be $3,4581.670…and that doesn’t include any book sales. Now we are talking!

Of course, that number is purely hypothetical because as more authors opt in and as more Prime members borrow books, the available fund – increased to $700,000 for January – will be divided amongst more eligible borrows. The royalty earned per book could drop significantly from the initial $1.70. But seeing the potential income generated is exciting and shows me that promoting this revenue stream may be well worth the investment of time.

Now save 25%

Keeping a closer eye on the Best Seller in Kindle Store list for the last month, I realized my ebook was over priced, particularly for an unknown author. Taking a gamble that a lower price would increase sales, and, hence, increase royalties, I have dropped the price by 25%. $6.49 seemed a lucky number! We’ll see how that goes.

Requesting a favour, please

If you have purchased I’ll Do It Myself from Amazon, first, thank you. I do appreciate everyone who takes a chance and spends their money on my book when there are thousands to choose from. Thank you.

Second, if you enjoyed the book and found some value inside the cover, please consider writing a review. This may encourage other Amazon customers to also buy it.

ORDs still available

Stack of I'll Do It Myself booksFor those who prefer ORDs (old reading devices), there are less than 150 autographed paperbacks left. Once they are gone, they are gone. I likely will not have another print run done. An empty corner in the living room might motivate me to get going on my second book!

If you enjoyed this post, consider buying me a cafe mocha. Thanks kindly.

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11 Comments »

Comment by Paul Bohman

January 23, 2012 @ 7:55 pm

I bought my old reading device version a long time ago :-) Good luck making the most out of your book! By the way, you do a great job with your blog. Your optimism, advocacy, and clarity are fun to read.

Comment by Darrell

January 23, 2012 @ 8:22 pm

Good luck, no matter what you do you will always have my support.

Comment by Denise

January 23, 2012 @ 8:46 pm

Hey Glenda, I have one ebook in the KDP Select program too and also earned $1.70 in royalties in December. Considering I charge $.99 for the ebook and therefore earn about $.35 per sale, I was thrilled! I did notice that I also made more sales during the same time period. My ebook is a very niche book for business bloggers so it doesn’t have general audience appeal. I look at it as another stream of revenue and am happy to get the exposure. I also have a strong call to action in the ebook inviting readers to get 5 free videos for which they must opt in, so I can also build my email list. It will be interesting to see what happens in January now that more authors are joining the KDP Select program. Blog on!

Comment by Barbara

January 24, 2012 @ 6:37 am

This is great, Glenda. I need to get my review over to Amazon. Please forgive my slowness. Also, I highly recommend you follow Jane Steen @ http://keepgoingyoufool.blogspot.com/

and

@janesteen on twitter.

She combs the publishing and self-publishing world and shares great info.

Comment by Glenda

January 24, 2012 @ 10:33 am

Paul, thank you for your kind words. And, yes, sometimes there is nothing like settling in with a good ORD.

Comment by Glenda

January 24, 2012 @ 10:34 am

Darrell, likewise!

Comment by Glenda

January 24, 2012 @ 10:46 am

Denise, I am happy, relieved actually, that I am not alone in the lone borrower. It’s a start!

My autobiography doesn’t have a call to action; the next ebook, due to launch shortly, will have one though. Is encouraging buyers to get my blog posts via email an appropriate call to knowledge?

Thank you for sharing your experience and expertise. I am learning from the best!

Comment by Glenda

January 24, 2012 @ 11:14 am

Barbara, thank you for pointing me to Jane Steen. I’ll spend some time later exploring her blog.

Comment by Denise

January 24, 2012 @ 12:09 pm

Glenda, it’s definitely appropriate to have a call to action to subscribe to your blog posts. The most effective way is to send people to a specific landing page with an invitation to subscribe and benefits they’ll get along with the opt in form. Don’t send them to you blog home page as that will be distracting and they may not take the next step to subscribe.

Comment by Glenda

January 24, 2012 @ 1:52 pm

Thank you, Denise. I will point them to http://www.doitmyselfblog.com/why-subscribe/

Comment by Tim Carr

April 10, 2012 @ 9:25 am

Do you think starting high and then dropping the price might have worked better for you than going straight in at a really low price would have?

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