Tag Archives: Money

What I’ve Learned so far from the Temporary e-Sale Test

I’m part of a tiny press, and we’d never done a sale before where an e-book had been set for free for a short time, so doing so with Soul Cages gave us some valuable information for future temporary sales.

First off, the Sony eBookstore and iTunes were terrific in responding in a reasonable amount of time to the change of the price to Free, and then ending the sale after we raised the price back to $4.99.  Considering that the pricing was being done through Smashwords, this was an impressive turnaround time. We’d do a sale with them again in a heartbeat.

We also confirmed that it takes a while for a free version to get over to Barnes & Noble, and also confirmed that a different e-bookstore (not Barnes & Noble) tends to be irritatingly sloooooooow in responding to price hikes after a sale is over.

If you want Amazon to match the temporary sales price set at Free, Barnes & Noble and iTunes tend to be key markets that need to be part of the sale. We decided we’d learned enough already and stopped the free sale at Barnes & Noble before it could begin. We had no need to trigger a free sale at Amazon this time around.

I strongly advise any tiny press planning a temporary sale to be careful about which e-retailers you do it with. Most will honor your request to raise the price back up once the sale is over, but there’s one or two out there that will drag their feet for months, and you’ll probably have to file a complaint with Smashwords Customer Support to contact those e-retailers to get them to cooperate and raise the price back up.

So you may want to think carefully about which e-retailers have your e-book in their inventory if you’re going to do a temporary sale.  One option is to do the sale at the very beginning when an e-book has just been published, then wait until after the sale is over to ship the e-book at the regular price to those few e-retailers that have a pricing behavior problem.  That way you can do a temporary sale as a marketing strategy when the e-book is first released, then get coverage in all e-stores later on.

Another option is to avoid certain e-retailers entirely for e-books if you want temporary sales to be done for that e-book on a regular basis. But remember to weigh the convenience of doing so against the disadvantage of lost sales if that e-retailer can get you into markets otherwise inaccessible.

But no two e-books are alike, so what works best for one e-book is not the same as what works best for another.

Helpful Article on the Usage of “Free” for Promotions

There’s a great article by Kristine Kathryn Rusch on the usage of “free” for ebook promotions. Make sure to read the comments section for the useful information being shared there right now.

“Parallels” Experiment Cancelled

Thanks to information shared with me behind the scenes, we’ve stopped the experiment with “Parallels.”  I was looking forward to testing out how fast price changes travel, but there turned out to be an unexpected issue.  Depending on how a sale is set up and which distributors it goes to, the sale can go on for months after it was supposed to stop.

Unfortunately, the way “Parallels” is currently distributed, that likely could  have happened to it. So instead a different experiment will be done in a month or two, where a free short story (that ties into a novel) will get shipped off into the world that will stay free permanently.

We’ve also got some ideas on how to deal with the “temporary sale price becoming a near-permanent sale price” issue and will probably try one out next year.

And yes, I’m being deliberately vague here. I will say that this is only a potential issue if the ebook is being distributed on many different e-retailers at the same time. It’s a bit like herding cats–it can be difficult to get them all to move in the same direction.

I highly recommend that a tiny press or indie author use a short story first to test where possible snafus might show up in doing a temporary sale.

Barbara Freethy hits 1 million mark in self-published ebook sales for 2011

In case anyone missed it, here’s Barbara Freethy’s announcement about hitting the 1 million mark in self-published ebooks sold in 2011.  Here’s a brief quote from the PR release:

Unlike independently published authors who publish at the $0.99 price point to fuel sales, Freethy’s books are primarily priced between $2.99 and $5.99. Her self-published books come from her extensive backlist, whose rights were reverted after the books went out of print. Freethy repackaged the books and put them on sale again, finding gold in books that had been taking up space in her closet”

The full PR announcement is at:
http://www.prnewswire.com/news-releases/author-barbara-freethy-sells-over-one-million-self-published-e-books-in-2011-132522313.html

I notice she’s selling not only through Kindle, but also made sure to have her ebooks on the Nook, Kobo, Sony, and Smashwords. Also has a deal with Overdrive.

Just for fun, let’s calculate what that is in cold hard cash. If we take a 70% cut of $2.99 for a self-published ebook, that’s about $2.09 per book. Sell 1 million ebooks at $2.99, and that’s $2,090,000.

Nice! This is fascinating times we live in.

Thanks to Passive Guy and David Gaughran for getting the word out.

The Power of Kickstarter and Other Links

I’ve been swamped with writing and editing work, so that’s why I’ve been so quiet here on the blog for a bit. But there’s some links I want to share before I forget.

Everyone has probably heard all about Kickstarter (the funding platform for creative projects), but if you haven’t, go and check them out! Kickstarter is proving to be a great way for professional artists to get the start-up funds they need and for people to support favorite artists and web shows. For example:

A writer friend of mine, Annie Bellet, was able to successfully use Kickstarter to help fund her tuition to Clarion this past summer.

The web show Put This On just successfully raised over $70,000 to film Season Two.

Travis Hanson, a fantasy/comics illustrator I got to meet briefly at Albuquerque Comic Con, has successfully raised the funds he needs to print his web comic in book format.

Money has always been an issue for artists, especially filmmakers and illustrators, so the rise of crowd-sourcing such as Kickstarter excites me to no end.

In other news, Dean Wesley Smith has an important technology blog post on how writers, publishers, and booksellers can use Book Cards to market an e-book cheaply and attract readers into independent bookstores to buy e-books for their e-readers. WMG Publishing and Lucky Bat Books were passing out the first ever e-book cards at Worldcon to show off this brand new marketing idea.

And 20+ year pro Bob Mayer has some blunt, quick advice on how to be a fiction writer that has a career that lasts for decades.

A Blog Post to Give Comfort in Rough Times, and a Few More Links

Kristine Kathryn Rusch has gone and written a blog post for all writers who are suffering through rough times right now due to the upheavals in publishing, “You Are Not Alone.” If you know a writer friend who is thinking of quitting writing or suffering from severe depression due to publishing industry changes, this essay is a must.

I also found out about a website that has various posts by pro writers (such as David Morrell) about the publishing industry.  It’s called Backspace – The Writer’s Place.

Another great resource is the NINC blog. Members of NINC have to be multi-published in order to join, so I find the information and blogs professional in tone and attitude.

Also, there’s Bob Mayer’s blog. He has 20 years of experience as a fiction writer in traditional publishing, and 2 years of experience doing indie publishing, so I find his posts have a lot of depth to them.

The Craving for Validation Can Really Screw Things Up

Writers–especially new writers–crave validation the way a cat craves catnip. I’ve seen the craving result in a few writers doing some incredibly destructive things from a business perspective. I myself did quite a few stupid things business-wise due to the validation crapola in my head until I learned from much more experienced writers that the crapola was there and that I needed to get rid of it.

Validation is NOT asking “Is this piece of writing any good?”  Validation is all about saying stuff like:

When thus-and-so happens, then will I be a REAL writer.

It’s the part about “then I will be a real writer” that messes writers up in the head. Badly.

Several wise old pros told me, “a real writer is someone who writes, day in and day out,” and I used to be inexperienced and stupid enough to scoff at that saying.  Surely there had to be more to being a “real” writer.

I don’t scoff anymore, because I’ve learned the hard way that there’s a core seed of truth to what those writers said.

A writer writes.

A painter paints.

A singer sings.

A coder codes.

Whenever someone quits doing the action (code, sing, write, etc.) that is the core of their dream, everything grinds to halt in a matter of time. Writers who stop writing will eventually become the topic of “What ever happened to so and so?” among readers.

Also, validation is NOT about setting goals.  It’s fine to have goals.

What I’m talking about here is having a mindset where a writer is totally dependent on a particular thing happening to feel like a “real” writer. This dependency results in neediness that can be manipulated by scammers, and a frantic urgency that results in bad business decisions that can postpone (or even wreck) the ability to make a living as a writer.

For quite a number of writers, “thus-and-so” is “published with a NYC publishing house.” The problem is the “When I am published by a NYC publishing house, then I will be real writer” mindset leads to a neediness that makes it hard for a writer to do the negotiating that needs to be done to get a decent contract.

Here’s something to think about.  These NYC publishing contracts are between a writer and a corporation.  We aren’t talking about two individuals working out a joint partnership here. Those people you meet from the corporation can be really really nice, but at the end of the day it’s the corporation the writer signs with. Editors and CEOs can be fired.

The craving for validation from corporations based in NYC can be used against a writer in contract negotiations. It’s just the nature of business–the writer’s book is a profit-and-loss statement for the corporation. If a writer wants to play doormat, that’s the writer’s problem as far as the corporate entity is concerned. Sometimes an editor will warn a writer if the writer acts too much like a pathetic wuss in negotiations, but for the most part the writer is on his or her own.

The other nasty part of this “NYC publishing house” requirement for being a “real” writer is that all the great middle-sized publishing companies get ignored because one is chasing after a narrow definition of being “real.”  There are some terrific small and middle-sized publishing houses out there, ones that are going to be big publishing houses 15 years from now.

Lastly, the whole mindset of  “when thus-and-so happens, then I’ll be a real writer” also makes it harder to keep morale up. Several old pros have pointed out to me that writing is disheartening enough as it is due to the rejection process; there’s no need to pile more anguish on by setting absurd goals for what is “real” as a writer.

A real writer writes, day in and day out.

Everything else is just a goal to aim for.

The Pricelessness of Time, and a Couple of Great Links

There are only 24 hours in a day. That’s it. Even those people who have a natural need for only 4-5 hours a sleep a night (or even none) can’t get around this time limitation.

Several swift deaths that have happened to people I cared about over the past three years have brought home to me just how priceless the time we are given is.  Once Death shows up for you, it’s over.  That’s it. We all like to assume we’re going to live into our eighties or later, but there’s no guarantee. And people love to assume that they’ll have lots of time to put their lives in order and do those things they always dreamed about.

Death can kill you in seconds. A stroke can strike you down where you stand and there won’t be time to say, “Goodbye,” or write a couple of poems before it is too late.

Never assume you can wait until retirement to do the things you dream about. People die before they reach retirement all the time. If your dream is to go to Paris before you die, start planning out tiny steps tonight that you take to work towards making that dream a reality sooner rather than later.

I think about time a lot, since I’m in the “squeeze” years. There’s work to do, a family to raise, a house with never-ending repairs to deal with, and writing to do. Several of my hobbies had to be put aside when I started to pursue writing in a serious way–there were only so many hours in a day.

Several months ago, I decided to turn off comments on my blog, because it was either do that or stop blogging all together. I didn’t know what impact it would have, but one of the surprising results was that now my blog thoughts sometimes dig deeper into things.  The time I used have to waste wading through spam in the queue instead gets spent thinking and writing the post instead.  There is only so much time each week I can devote to a blog, and I was actually surprised at how much a help it was time-wise to have comments off.

Zoe Winters did a post not too long ago about why she turned off comments on her blog, and brings up her reasons why a writer may want to do so.  Every writer is different–one writer’s healing potion is another writer’s poison. So each of us will have to experiment to see what works best.

In other news, I stumbled across a wonderful short essay by James Lee Burke on writing, “Seeking a Vision of Truth,” that can give consolation to writers in difficult times. I hadn’t known that his novel The Lost Get-Back Boogie received 110 rejections during nine years of submission.  I’ve provided the link to get to it on his website.

Also, musician Jonathan Coulton has done a long thoughtful essay on how he became a success as an indie musician. I think what he has to say also applies to becoming a success as a fiction writer (whether traditional, indie, or a traditional/indie combo).

So, I leave you all with the question, “When Death comes for you, is there anything you’re going to regret having not done? And if the answer is ‘Yes,’ what small steps can you take here and now to change that?”

Accounting Problems with E-Books in Traditional Publishing

If your novels are traditionally published, or you plan to sell a novel manuscript in the near future, go read Kristine Kathryn Rusch’s latest blog post on accounting challenges in traditional publishing and the impact it may already be having on royalty statements for e-book sales.

E-books are going to require publishers to revamp their database technology and accounting systems to handle the increased flow of data, but money has been tight in publishing, which means some have been postponing it, and it’s looking like the cracks are beginning to show. It’ll be a lot easier to fix now, when e-books are 10% of the market, than later when they’re 50%.

It’s Not Indie VS. Traditional, It’s Indie AND Traditional

As fiction writers, we live in an exciting era right now due to the new distribution opportunities available through Kindle, PubIt, and Smashwords. But to hear some writers talk, it’s Indie vs. Traditional, and one has to choose sides.

Well, a lot of neo-pros and old (20+ years) pros I’ve been talking to are excited about being able to do both indie publishing and traditional publishing at the same time.  Having more revenue streams as a writer makes it easier to pay the bills each month. And as long as one is careful about reading and negotiating away any excessively broad non-compete clauses in a traditional publishing book contract, doing so should not be a big deal.

Short stories still need to go to traditional markets first if you want to sell them to a place like The New Yorker.  But if you write a novelette or novella that can’t find a traditional home, it is now possible to indie publish it instead of just letting it sit around unpublished. And once the exclusive time frame on a traditionally published story expires (and if you didn’t sign an all rights contract), you can republish it as an indie reprint to generate more income.

But one thing I want to emphasize is the importance of thinking twice before giving away a royalty cut to an e-packager for an indie story.  Dean Wesley Smith and J. A. Konrath and Barry Eisler debate the pros and cons at length in a post put up today.

We’re all in for a wild run over the next few years in publishing. Since I used to work in the software industry–which makes publishing look glacial by comparison–I confess I’ve welcomed the publishing technology breakthroughs that are bringing on a faster business pace.