December will be my 42nd month self-publishing.
The world’s changed a lot since summer, 2011. Gone are the euphoric days where bright new names were selling millions of .99 books, seemingly with ease. Gone too are the heady times where you could run a free Select promo and sell 10K novels at $4 a pop in the afterglow. It was an incredible period, and I feel fortunate I got to participate on the second half of it.
My buddy D.D. VanDyke has released his new mystery novel, Loose Ends, and is running a giveaway everyone should sign up for. Just do it unless you want that Ebola that’s going around. And if you act now, you can get it for only .99!
That golden era lasted about two years. Kindles were the new shiny plaything and everyone wanted one. And they needed content. Enter indie authors, who could sell a novel for less than a fast food meal.
Fast forward to today. 2014 marked a big change in many authors’ fortunes. The marketing gimmick of running Select free days on Amazon and seeing a big spike in sales afterward are over. Likewise, the effectiveness of putting your first book perma-free has diminished – either because of Amazon monkeying with their algos (free books don’t show up in also boughts any more, as one example of how visibility has been reduced) or due to a glut of free content.
Since summer, selling indie books has gotten even tougher. Amazon introduced Kindle Unlimited, which enables customers to pay $10 a month and borrow as many books as they like – with the caveat that only some titles are in the program, which pays $1.33 for a borrow instead of the royalty an author would normally see (except for Amazon imprints and trad pubs, which see their full royalty on a borrow); a windfall for those writing 10K short stories or serials, but not so great for those with novels, hence limited participation. I have some of my stuff in the program, and those are doing okay, for the ones selected for Amazon promos. The others can’t get arrested. So for me, net neutral, as over 20 of my novels aren’t participating.
But the effect it’s had on a lot of indie authors’s sales has been devastating, because apparently many of those who might have bought a book are now no longer buyers, they’re borrowers. I’m hearing stories of 60, 70, 80% drops in sales from authors who are recognized names and who shift tonnage of books. Some genres have been hit harder than others, which makes sense – for instance, NA and romance, which are well known for having voracious readerships, have seen the biggest drops in sales. My action thriller genre, not nearly as bad, however it’s still down.
So what’s an author to do? My strategy is to continue writing books I’d want to read, and hope that my readership grows over time, and feels that my stories and prose are a fair value at their $5 or so price point. I’ve had an amazing three and a half year trajectory, culminating with the release of my co-authored novel with Clive Cussler, The Eye of Heaven, in September. I can’t bitch. I mean, I can and do, but I really have no grounds for it.
My thinking is that this is a business of peaks and valleys, as is all retail, and while the valleys suck, they’re necessary if you’re going to have peaks at all. My philosophy is that if you can have higher lows and higher highs, that’s awesome. If not, change it up, look hard at what you’re doing, and ask yourself what you can do better – then do it. Aside from that, I know of no magic bullet, but after three and a half years of writing for a living, I can think of worse ways to spend my time, and I’m always extremely grateful to my readership, because there are any number of great books out there, and I’m fortunate they’re reading mine.
Now go buy my crap so I can continue punishing my liver. Because it’s evil and deserves it. Trust me. I would know. Bad dirty organs. Bad bad bad.