Showing posts with label sales. Show all posts
Showing posts with label sales. Show all posts

Wednesday, August 8, 2012

Self-published = Salesperson, That’s Crazy Talk!


Hi All,

I’ve been in deep lurk mode as I work on the sequel to THE HALO CHRONICLES: THE KEEPER (sequel to THE GUARDIAN). But as indie-related business articles or posts catch my eye, I’ll try to pass them on.

Back in March, Courtney Milan did an interesting blog post about review ethics and specifically The Ask.
 
“But I have seen a handful of self-published books, where at the end of the book, there is a brief note that says something like this: If you enjoyed this book, please consider leaving a review on Amazon.com. Read post here. (Be sure to peruse the comments.)

As I started to comment, I realized I had a post worthy of sharing. So here are my thoughts:

My indie books do have a gentle ask at the end. Honest reviews are critical to an indie's credibility, brand building, and self-owned business. As self-published authors, we are entrepreneurs/small-business owners. And we have to act accordingly. In this brave, new publishing world, not only do authors have to think and act like marketers, they have to be savvy salespeople.

If you think about it from a sales perspective, books = products, readers = consumers. So what do we know about the average consumer and their product experiences?

Sales: Studies show that dissatisfied customers will tell more people (8-10) about their experience with a product than happy customers (2-3 people). Read more here and here (or just Google “dissatisfied customers”).

“About13 percent of dissatisfied customers tell more than 20 people.” (White House Office of Consumer Affairs, Washington, DC) eCommerce is a game of statistics and the global potential for disgruntled readers to rant is exponential. The first place they go—you guessed it—on line. Here’s a great article from MediaSpace to illustrate the point.

Even more compelling, perhaps, is the data that comes from science:

Science: Psychologically and physiologically, human beings are hardwired to focus on the negative (NY Times article: Praise is Fleeting, but Brick Bats We Recall). "Bad is Stronger than Good."
 
This data has 2 primary implications: 1) readers are more likely to review books that have made some sort of negative impact on them, and 2) prospective readers are likely to weigh negative reviews stronger than positive ones.

That brings us to The Ask:

If you enjoyed this book, please consider leaving a review on Amazon.com.” 

The Ask helps level the playing field. It equates a positive reader/consumer experience with a call to action in a very non-threatening way. Genuine, positive reviews build product confidence for potential readers. Think about it for a second…Have you ever looked at the reviews for a product you were considering on Amazon prior to purchasing? Have the rating/reviews ever swayed your decision to buy or not buy? Have you ever looked at reviews for a book that you were considering? What are people saying about this? is a question most consumers are curious to answer, and the greater the risk, the more we want reassurance before a purchase commitment. So why wouldn’t you, as an indie author, do everything within the boundaries of your principles and ethics to get the reviews needed to grow your business?*

It is my theory that so many authors are uncomfortable with The Ask for the same reason they would never consider a career in sales. They lack the constitution/principles/desire needed to succeed as a salesperson. I get that (really, I do). But just about every successful business on the planet has a sales department—even the big six publishers. So who is the sales force behind the self-published author?  * pause for dramatic emphasis* That’s right. I am/you are. So don’t neglect your sales plan. 

It’s like I always tell my kids: “How am I supposed to know if you don't (respectfully) tell me what you need? After all, I’m not a mind reader”—and neither are my potential consumers. 

Happy sales!

Carey
(Who may, or may not, work in the Marketing & Sales division of a global, publicly traded Fortune 500 company which happens to be the largest consumer packaged goods company in the world.) www.careycorp.com

*To clarify, I’m not suggesting that if you have sketchy ethics that it’s okay to solicit false or overly positive reviews from friends and family. Reviews do need to be authentic and honest.  I am merely suggesting there are a broad spectrum of principles and ethics in the field of sales that may govern what you are, or are not, willing to do. Don’t confuse this with comfort level. Think of how uncomfortable marketing can be—but we all agree it has value and needs to be done.

 Difference between ethics and comfort zone: 

Example 1: Is asking for reviews from readers at the end of my book out of my comfort zone? Yes. But is it unethical? No. Does is make sense from a sales perspective? Yes.

Example 2: Is asking Aunt Nancy and her friends to go online anonymously and give glowing, 5–star reviews of my book outside my comfort zone? Maybe not… Everybody does it. Is it unethical? Abso-FREAKIN’-lutely! Does is make sense from a sales perspective? No way!!! If Aunt Nancy and friends are discovered, my credibility will suffer. And the amount of negative comments produced by public outrage will tank my career (as it should).

Example 3: Is my cousin’s unsolicited review, with acquaintance disclaimer, of my book that she purchased with her own money out of my comfort zone? Perhaps… (Family and friends are always tricky business.) But is it unethical? No. Does is make sense from a sales perspective? Perhaps… It’s an honest review from a paying customer. However, widely publicized relationship abuse between authors and their friends/family to promote books dishonestly tends to make this a risky practice. Although it’s not wrong, the more strategic choice might be to ask my cousin to use word of mouth power and remove the review.  

(Hey wait, is this an example where the negative connotations are more prevalent in society than the positive? For every author that engages in sketch reviews practices, there are probably a thousand or more that don’t.)

Bottom Line: This is your career and your business. Don’t lie to your consumers; don’t devalue them. Be honest. Apply discipline and operate with integrity. Which sounds suspiciously like The Golden Rule.

YOUR TURN: Have you ever noticed **If you enjoyed this book, please consider leaving a review on Amazon.com** at the end of a book? How often have you noticed The Ask? How did you feel when you saw it?

Thursday, January 19, 2012

The Experimental Girl, part 2: More Experimentation

Thanks to everyone who chimed in on promoted prices vs. every day available price. I am taking THE HALO CHRONICLES THE GUARDIAN off sale and back to $2.99.

I decided to let the .99¢ sale go through MLK Day, so I requested the pricing change ($2.99 , 70% royalty) for  on Tuesday. As usual Amazon is taking their sweet time to make the change.

It will be interesting to compare velocity at the higher price with THE WAY LIFE WAS FOREVER continuing as a free promo vehicle.

As of this morning, here are my January 2012 sales results:

THE HALO CHRONICLES: THE GUARDIAN ($.99): 123 128 (as of 1/19 8:30pm)

THE WAY LIFE WAS FOREVER (FREE): 4903 5056 (as of 1/19 8:30pm)

1/30 Results:

THE HALO CHRONICLES: THE GUARDIAN ($.99): 203 (and back up to $2.99)

THE WAY LIFE WAS FOREVER (FREE): 8007 (in 1 month!)

Thursday, January 5, 2012

The Experimental Girl


December was an experimental month for me. In November, I published a dystopian short story, THE WAY LIFE WAS FOREVER, at $.99. At the end I included the first chapter of THE HALO CHRONICLES: THE GUARDIAN. Then I dropped THE GUARDIAN from $2.99 to $.99 to participate in a holiday promotion called Book Lovers Buffet.


For the purposes of this analysis, I am going to use my Amazon sales.

December 1-24 results:
THE WAY LIFE WAS FOREVER $.99: 4
THE HALO CHRONICLES: THE GUARDIAN $.99: 66




I decided to make THE WAY LIFE WAS FOREVER free to promote THE GUARDIAN. It went into effect just after Christmas.




December 26-31 results:
THE WAY LIFE WAS FOREVER $.00: 617
THE HALO CHRONICLES: THE GUARDIAN $.99: 53

January 1-4 results:
THE WAY LIFE WAS FOREVER $.00: 767
THE HALO CHRONICLES: THE GUARDIAN $.99: 27



 The results are so phenomenal that I am going to keep THE WAY LIFE WAS FOREVER free.
Now my dilemma, the promotion for THE HALO CHRONICLES: THE GUARDIAN  ends 1/15/12. Should I keep it at $.99 with much lower royalties or take it back up to $2.99.

What do you think?

Thursday, August 25, 2011

Going Indie - Is it worth it?

Time to talk results.

I take this giant leap of faith - so necessary to gain forward momentum in my career - and three months have passed. Some authors are selling tens of thousands, some authors are making thousands a month, and a very lucky few are doing both.

And me?

My results have exceeded my expectations. I have recouped my initial expenses. And most importantly, I have taken the next step in my career. No regrets.

So lets talk Dollars and Cents:

THE HALO CHRONICLES: THE GUARDIAN sells for $2.99 eBook and $14.99 print (discounted at B&N but with very little margin for me).


Sales
Earned

MAY 24th

Amazon
36
$36

B&N
24
$46

JUNE



Amazon
19
$32

B&N
27
$52

JULY



Amazon
24
$45

B&N
20
$38

Print
6
$35

AUGUST



Amazon
19
$35
est.
B&N
5
$9

Print
2
$7

Smashwords (3mo. total)
10
$23



TOTAL
192
$358





A good friend of mine, who published about the same time, has sold in the thousands. While ecstatic for her, for like a second I was jealous of her sales. (LOL Tonya).

Keep in Mind at my Pricing structure: 100 = 700

I considered dropping my book to $.99. While $.99 price point does tend to explode sales, the margin is very low.

$2.99 (70% is $2.093) x100sales = $209.30
$.99 (30% is $.297) x100sales= $29.70;  700sales= $207.90
My choice, earnings at $2.99 or sales at $.99? The authors who are really doing well have a tiered approach (that I plan to model). When their subsequent book releases for $2.99 or $3.99, their current title drops to $.99. That way they are accomplishing both sales and earning. So I'm hard at work on the sequel THE HALO CHRONICLES: THE KEEPER. :)

Here are some other AMAZING indie authors who have transparently shared results:

* Debra also has a great post on price point

Debra's August sales information
Theresa Ragan

Gemma Halliday's results (1 year 600k and counting)
D.D. Scott (on Right side of page)

Cate Rowan on The Ruby Slippered Sisterhood site

Julianne MacLean's promotion experiment (How important are cover and price?)
Know of any other indies disclosing sales? Post a link in comments and I will update this post. :)