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How to Make Big Money in Self-Publishing

NaNoWriMo Update

I’m still plugging away with my scaled-back version of National Novel Writing Month. So far, I have been able to keep my goal of 500 words per day (with one exception, which was more of a math error). Big thanks to the Willamette Writers writing cohort for keeping me on task. Just cleared 50,000 words on my latest MS.

Sour Grapes for Breakfast

One of the things I like about NaNoWriMo is that it gives me an excuse not to work on sales and marketing my existing titles Jackrabbit, Powwows, and Fester. I may be no great shakes as a writer, but my writing’s positively stunning compared to my salesmanship and marketing skills. I just don’t like it. Yet, I want people to read what I’ve written, of course. I’m not really looking to make a ton of money here, I’d be happy to break even on my out-of-pocket costs for the editor, the cover artist, and other fixed expenses.

So I have succumbed, at what I hope is a tolerable level, to the self-publishing industry’s legion of people, businesses and services who will make your book a “best seller” for the right price. Being naturally suspicious and tight-fisted, I always do a little research before shelling out any money. Scammers abound, and I’ve always know that the quickest way to make big money is to sell other people “secrets” of how to make big money. I recently read an article about a woman who charges $1,111 per hour to “channel” “Jesus” to Hollywood celebs and other rich idjits. If I only had a smidge less morality, I’d be on that action like Paula Deen on a plate of deep-fried Twinkies.

So I always look a little askance at the myriad of opportunities for self-published authors to make a bundle by forking over some program or another. At the same time, I’m completely cognizant of the fact that I need help marketing and selling, so I’m just going to have to suck it hope and hope for the best.

Recently, this has taken the form of paid advertising, which is pretty much a given for any self-published author. I’m a kinda techie guy – or at least I used to be – but the online advertising systems used by the likes of Facebook or Amazon are really complex and not at all intuitive. Early attempts at advertising on these platforms had been unsuccessful, so I started hunting around for some reasonably-priced advice.

In the course of my searches, I stumbled upon a plan that is so simple in its efficacy and audacity that I have to tip my hat to the author. There was a teaser article about this person’s formula for advertising success. The piece of advice given in the article was to essentially ignore the Average Cost of Sale (ACoS) metric on the Amazon Advertising dashboard. I could do this easily, as my ACoS figures are downright depressing. This guy seemed to be on the right track; the hook was set.

Of course, he had plenty more useful advice to offer, and was, in fact, going to write a whole book about his Amazon advertising secrets. The book was still in the process of being written, but if anybody wanted to get in at the ground floor, he had established a Kickstarter campaign. Out of morbid curiosity, I checked out the Kickstarter page and was amazed to see that of his $5,000 goal, he had raised a whopping $16,547!

I was awestruck. He had already cleared five figures and he hadn’t even written the book! I did a quick back-of-the-envelope calculation, and came up with the number 3,100. Based on the price point of similar book of his, and the typical 80/20 ratio of paperback to eBook sales, along with Amazon’s cut – his Kickstarter campaign had raised the equivalent of the sales of 3,100 copies of his book, which, I hasten to repeat, hasn’t even been written yet. Of course, he’s going to have to come through on the promises he made to the Kickstarter funders, and that’s not peanuts. Still, he’s basically got the equivalent of 3,100 copies of the unwritten book out the door. Sure, that’s chickenfeed to a lot of authors – but not me. I’d be over the moon to sell 3,100 copies of a book.

Truly, this guy has it dialed in when it comes to selling self-published books about self-publishing. And as sour-grapesy as this post sounds, I will buy a copy of the book when it’s finally released, just out of respect for this guy’s sales acumen.

Makes me think I should go into writing books about self-publishing. However, on the whole, I think I’d rather just be a spiritual adviser to the rich and unfulfilled. I will call myself “Brother Mysterioso,” and charge rich idjits $1,112 an hour to channel the spirit of Rip Taylor.


Published inself-publishingwhiningwriting

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