This is one of the major things that every self-publisher needs to consider before publishing on Kindle. Find out how much can you make self publishing on Kindle as well as some useful tips to help you sell your books more.
Breaking The Rules
Today's question has three answers and the third answer is a secret that you're going to want to stick around for. I'm going to explain to you that the one thing that makes the biggest difference between the winners and the losers when it comes to publishing on Kindle.
So, let's get into it. The question that was sent to me today was, how much can you make self publishing on Kindle? This is a very common question because when you're considering getting started on Kindle, you have visions.
You have written a book. You're an author and you haven't published the book yet. But you are wondering well, is it even worth my effort?
Will I be able to get this best-seller badge on Amazon? We've seen them around and have that feeling associated with yes I have achieved something here. I have created something into the world that people wish to buy.
A lot of people or at least enough people perhaps to get that best-seller badge that we see so often on Amazon with the best-selling books. But we want to know is that something that we can achieve? That's something that I'm going to be answering today.
But before we get into the answers, check out my absolutely free Self-Publishing Checklist. It will help you make sure you are not making the common mistakes that the majority of the Kindle Publishers make daily.
So, let me get into my personal story on this one. When I first started publishing, I wanted to come out with a Kindle book. I had some ideas about goal achievement and several other topics that I thought "wait, I have something to share with the world".
Check out this related article: How To Start Self Publishing Through Kindle?
"This would make a wonderful book to come on. I'm sure people would want to buy it". So I put together the book. I was writing a thousand words a day until I had completed the book's link that I wanted to do.
I ordered a cover and went back and forth on that. I worked on the formatting and made lots of mistakes there. I finally got the book onto the market and what exactly happened was that I was selling one copy a week on the Kindle book.
It made me only $2 a week, so I realized something was wrong. Maybe it wasn't all it was supposed to be with regards to Kindle books. Maybe there was more to this story that I simply was not aware of.
So that was something that started to demotivate me. The problem though was that I was breaking all of the rules that are necessary to succeed at Kindle self-publishing. I was just going rule by rule and breaking it.
Best Seller Badge
I was not choosing the right market. I was not optimizing my book and then I wasn't marketing my book. Failure to do these things resulted in not making as many sales as it definitely could have made in those early days when they hit the market.
But nobody told me about that. Until after I had taken some courses that showed me how to go about step by step fixing these different problems that caused the book not to sell at all. After some time, I put some more books on the market as well.
Learning the tricks, I suddenly got that coveted best-seller badge on one of my books and it stayed there for weeks. It was on the same topic because you've got to keep in mind some people choose categories that are unrelated but on the category that was related to the book itself.
It was amazing watching hundreds and hundreds of copies of this book sell. Since then, it has been thousands of copies of this particular book on helping people sleep better for example. So, I realized suddenly that yes, this dream is possible, the feeling associated with getting that badge on there.
So you could say that hey I have put something into the world that people want to buy. Now, let's get into today's answers. The first is if you price your book between $2.99 and $9.99, you can expect to see a 70% profit which is fantastic.
Check out this related article: Comparing Ingramspark, Lulu, and KDP Print
This is Amazon's way of saying they believe they will make the most money if your book is priced in that range. Sometimes, people come out with books and decide to put it at $20 to $30 a book because maybe their paper books are so expensive. But this is a terrible idea.
We want to play the game by the rules that are established and Amazon is signaling we will give you more money to take home if you price it in that range. Outside of that range, your profit or your royalties drop below 30% or around that range.
I think it is so if you price it cheaper or more expensive, there are exceptions to this rule. Like dealing with countdown days, if you're registered in KDP Select you can set the book to be counting down the prices, and the price drops.
The second answer is of the authors on Amazon, 3% of those authors earn $10,000 a year. Half of those authors or actually more than half of those authors are traditional authors.
So, the self-published authors are less than 1.5%, making $10,000 a year off of Kindle books that they put on Amazon. It is a terrible result of the 300,000 self-published authors that are out there.
Optimize Your Book
Today's secret answer of the day and our third answer is that most authors fail when it comes to making money off of self-publishing on Kindle. There are 3 main points which I already mentioned.
The first one is they simply are not choosing the right market. We need to put books into markets where people are hungry. I use a program called KDSpy to help me ensure that I'm producing books in markets where people are hungry to buy books.
The second thing is that they don't optimize their books. Your covers are lousy and your descriptions are awful. The title of your book does not give a good sales proposition as to what exact value they can expect.
You are not matching the right keywords to it so that people can quickly search on Amazon and find your book. Because you've got the right keywords registered, the description is good, and when they see the cover, it pulls them in to look at the title.
The title pulls them in to read the description. And before you know it, maybe they have even click and look through to see your table of contents. Everything is engineered specifically to make sales on that book so that they will buy the book.
Then you put out more books and each of the books has a certain percentage number that will sell daily. Based upon that, we can start building up the money that's coming in regularly. To beat that 3%, earning $10,000 or more a year which is crazy low.
Check out this related article: Self Publish Kindle Make Money?
So, how much can you make self publishing on Kindle? Most authors are making absolutely nothing on Amazon or perhaps even worse with their Kindle books losing money. They are not even making back the money they invested in the cover and the formatting.
So this is something you are going to want to consider to avoid the pain that is associated with getting your book on the market and just not seeing any sales at all. That's really what this blog is about. It's trying to keep things as easy as possible but at the same time optimizing your books.
Make sure you are writing books for readers who wish to read those books. So, are you part of the 3%? Have you managed to make $10,000 a year on your books?
If so, write "Yes" below in the comments and if not, write "No". I want to hear it because I'm not sure how many of you have done that. Have you gotten the bestseller badge on one of your books?
Maybe you have, maybe you haven't. If you wondered why then go ahead and asked me below. Check out my other blogs and videos for more answers to your self-publishing questions.