January 28, 2022 Free Advice Friday Hot Topics
How important is a wholesale discount if you have no intention of marketing to retail stores? While offering a wholesale discount is always a good idea, you can get away with offering less of a discount if your target market isn’t retail stores. Many university presses, for example, offer a 10-15% wholesale discount. Since their target market (schools and libraries) aren’t in the business of resale for profit, offering a steep discount isn’t as crucial. And if you can offer less of a discount and keep more profit, why wouldn’t you? Check out the replay starting 1 minute in to learn more.
What can you do when you see a retailer selling your book for a higher price than you’ve set for retail? Nothing. Keep in mind that MSRP means “Manufacturer’s Suggested Retail Price.” What retailers (online or in store) decide to list your book for is completely up to them. They may sell your book for more than the suggested retail price or discount the book and sell for below the suggested retail price. Your job is simply to give all outlets the same MSRP and set your online accounts with the same retail price across the board.
How often should I run eBook discount deals? Discount eBook promotions can be a great way to attract new readers and breathe new life into your book sales. However, it’s important that you space out discount promotions so you don’t devalue your work or look desperate for sales. Keri recommends waiting three to six months between discount deals—preferably six months. Go here in the replay to learn more.
Wondering how to run an effective eBook promotion? One of our most popular blog posts walks you through the process of setting up and running a discount promotion: https://newshelves.com/when-bookbub-doesnt-bite/
What is Prime Reading? Every Amazon Prime customer is offered Prime Reading – books that Prime users can read for free. Authors who are enrolled in Kindle Select (exclusive with Amazon for Kindle Unlimited) may nominate one eligible title for Prime Reading. If chosen, your book is featured to Prime members which can be great exposure. However, authors are not paid any royalties for books read through the Prime Reading program. None. For this reason, we do not recommend authors enter the Prime Reading program unless they are submitting a first in series as a “loss leader” to generate interest and read-through on additional books in the same series.
Yikes! Okay, what about Kindle Daily Deals? Amazon offers discount eBook deals known as Kindle Daily Deals. If your book is selling well, Amazon might reach out to you to offer a Kindle Daily Deal. Authors using KDP can also nominate their books for a Kindle Daily Deal via the “marketing” tab in KDP. You do not have to be in Kindle Select or exclusive with Kindle to be considered for a Kindle Daily Deal.
How do you market back-listed books? If you want new book sales, you have to find new readers! Go to 33:10 in the replay to get ideas on creative ways to reach them.
Should the page numbers be eliminated for the Table of Contents in an eBook? Yes. Typically, an eBook Table of Contents is linked to the individual chapter rather than having a page number listed.
Do you have any tips for doing Facebook lives? Don’t go live just to go live. Have a reason or something specific to talk about or you will quickly lose your audience’s interest. For maximum exposure and views, lives of any kind need to last a minimum of ten minutes and picking a regular day and time for going live may help build your audience more quickly.
Do you have a resource for creating free barcodes? Dave Chesson has a great barcode creator and Keri also has a YouTube video showing how you can create a free priced barcode utilizing Ingram Spark’s cover template generator.
What countries is my Kindle eBook available to? KDP has a list available here: https://kdp.amazon.com/en_US/help/topic/G200652410
If you have questions you’d like answered, join us next week, Friday, February 4th at 10am EST to get your questions answered LIVE or e-mail your questions in advance to email@example.com with “FREE ADVICE FRIDAYS” in the subject line.