Are you looking for other ways to monetize your self-publishing business?
Wouldn’t it be nice to do the work once but be paid in more ways than one?
Then, you may want to consider diversifying your self-publishing business beyond Kindle Direct Publishing.
The Kindle Gold Rush
Not too long ago, everyone and their mother was publishing on Amazon KDP (Kindle Direct Publishing).
The barrier of entry was rather low, so naturally the Amazon Marketplace was flooded with new work.
Naturally, quite a few releases were great while most books sucked eggs.
The crappy books were due in large part to would-be writers, aspiring self-publishers and a few nefarious individuals.
While I could write an entire post on these fly-by-night crooks swindling the Amazon customers of their money, I’d rather focus on the bigger picture.
The Truth About Kindle Profits
FACT: Kindle e-books make up a smaller share of the publishing business.
Heck, take a look at this boring data about the projected e-book global book sales for 2018 (I’ll wait…) >>> link to stats & stuff.
Okay, now that you’re back…
Wait a minute…you didn’t look?
That really well-crafted article by Statista stated the 2018 e-book sales projection is at a 25% share.
Wednesday, Thursday, Friday, indeed!
So, if that were to apply to current trends, then we can assume 75% of the book market is still unaccounted for.
And, I just ended a sentence with a preposition, so suck it, grammar snobs!
Show Me the Money…In Self-Publishing That Is
In a recent interview with uber-successful self-publisher Jason Bracht, I asked him what advice he’d give to himself if he could go back to when he started.
The paraphrased answer is, “I’d publish to paperback and audiobook on all my publication.” (See the interview here)
Jason stated that he’s made upwards of $10,000 to $20,000 per month in e-book sales alone. (see his videos here)
So, why would he suggest publishing to paperback and audiobook?
Because those two streams are highly viable and under-utilized.
Createspace: Paperback Books on Amazon
Createspace (an Amazon Company) is one of many online resources for publishing your work to paperback.
The neat part is you can publish your book to over 6 different channels.
So, what’s the big hang-up?
Why aren’t more people using Createspace?
Okay, I get why some people don’t want to tackle paperback books.
The formatting alone is enough to drive you to drink.
But, if you don’t initially release your book to paperback, then consider a physical book as a good next step for a proven e-book.
Funnel a small portion of the Kindle profits from a book to hiring out someone to do it for you.
Come on; don’t be a cheapskate!
Think about this anecdotal evidence…
Sorry, I’m too lazy to Google a reputable resource, so do it yourself…
Over 60% of global book sales comes from physical books.
So why the hell would you NOT convert your Kindle e-book into a paperback?!
In fact, I can personally tell you a large portion of my self-publishing income lies on the under-used platform, Createspace.
KDP: Createspace’s Long Lost Twin Brother
If you haven’t heard yet, then I’ll give you the scoop.
Amazon revealed that KDP is Createspace’s long lost twin brother.
Okay, okay. That’s horsesh*t, but…
The truth is KDP recently unveiled its paperback option.
And, the best part is the format and layout are nearly identical to Createspace.
Now you can kill two birds with one stone.
If you are leery about putting all your eggs in one basket, then simply ignore what I just shared.
Either way, publish your stinking content on e-book and paperback.
Otherwise, you’re leaving money on the table!
Audiobook: The Red-Head Step-Child of Self-Publishing
Hey, you know where else you’re leaving money? ACX!
ACX (Audiobook Creation Exchange) states this on their website:
We have 1,611 titles open for auditions, 43,083 producers to choose from, and 78,843 audiobooks on sale at Audible, Amazon, and iTunes. (as of February 23, 2017)
They only have 78,843 audiobooks?!
But, there are millions of Kindle e-books on Amazon alone.
Why aren’t they available on audiobook?!
Here’s where it gets juicy!
If someone purchases your audiobook and signs up for an Audible membership, you get a bounty.
Do you wanna know what that bounty is? Huh, do ya?
Holy crap! Fifty-freakin’-bucks simply for putting your content on the market.
And, the best part is you still get royalties for that book! WHAT?!
ACX KISS: Keepin’ It So Simple
Last thing to note about audiobooks on ACX.
It’s zero risk. ZERO.
You find a narrator, they do all the work and you split the royalties.
ACX kicks you an additional 25 promotional codes which essentially is money in the bank.
I develop raving fans from gifting copies of my audiobook.
The cool part is when someone claims the gift, I get a small royalty.
I put together a series of videos about ACX and how to do it step-by-step (click here to see the playlist).
If you are outside of the US or UK, then don’t sweat it.
If KDP offering paperback as an option is any indication, then Amazon and ACX will open up to more regions in the near future.
What’s the Self-Publishing Success Formula Anyways?
Oh, sh*t! I didn’t think you were actually interested.
The self-publishing success formula isn’t some inside secret.
Nor do you have to opt-in to an email newsletter for a downloadable PDF of it.
I’ll give it to you simply for reading through this entire post…
Except for you skimmers or speed-readers…
Nah, I’m just kidding; you get it too!
This is it:
- Produce the content
- Release it on all platforms
- Amazon KDP
- Heck, be brave and go for these alternatives:
- Amazon Video Direct – that’s right, repurpose it to a featured film, why not?!
- Collect the profits
So, for you algebra nerds:
- b = book
- d = online distributors
- $ = money
- x = 1-9 different distribution channels, choose your number
The Self-Publishing Success Formula
b + d (x) = $
Now, go write your own paycheck, you savvy self-publisher you!
Dale L. Roberts
#1 International Best-Selling Author
Dale L. Roberts is a full-time self-published author, former professional wrestler and personal trainer. He lives in Columbus, Ohio, with his wife Kelli and cat Izzie. You can find more from Dale at YouTube.com/SelfPublishingWithDaleLRoberts.