Kindle Unlimited in the UK

UK

KINDLE UNLIMITED UK

Amazon just launched Kindle Unlimited in the UK (for the amazon.co.uk website).

Now UK customers can subscribe to Kindle Unlimited for £7.99 per month (with a free 30-day trial period).

This allows UK subscribers access to unlimited reading of over 650,000 titles and thousands of audiobooks. This includes all KDP Select titles selling in the UK, plus about 100,000 other titles, such as Harry Potter.

The KDP Select Global Fund for September is presently $3 million. In both July and August, more than $2 million was added to the projected KDP Select Global Fund each month to bring the KOLL payment up to $1.81 and $1.54, respectively, per book read to 10% through Kindle Unlimited.

The introduction of Kindle Unlimited to the UK will increase the borrows for September somewhat, though with only a week remaining in September, this effect will be somewhat limited.

Many KDP Select books will see a surge in borrows in the UK for September and October.

Chris McMullen

Copyright © 2014 Chris McMullen, Author of A Detailed Guide to Self-Publishing with Amazon and Other Online Booksellers

  • Volume 1 on formatting and publishing
  • Volume 2 on marketability and marketing

Follow me at WordPress, find my author page on Facebook, or connect with me through Twitter.

Kindle Unlimited KOLL Payment for August, 2014 = $1.54

Unlimited Books

KOLL Payment for August, 2014

Kindle Unlimited downloads read to 10% and Amazon Prime borrows paid $1.54 for August.

This is down considerably from $1.81 for July.

Update: Kindle Unlimited paid $1.52 in September, nearly the same as August, but dropped down to $1.33 for October. It’s back up to $1.39 for November, 2014 and further up to $1.43 in December, 2014.

However, there is, in fact, a precedent for this:

  • Amazon Prime paid $1.70 for its debut month.
  • Amazon Prime paid $1.60 for its second month.
  • Since then, Amazon Prime has steadily paid closer to $2.

So, like Prime, the first two months of Kindle Unlimited are somewhat lower than the usual $2 KOLL payment.

I think another month of data will be useful.

One big difference is that Kindle Unlimited subscribers can download many books, whereas Prime customers can only read one book per month.

With this in mind, it’s amazing that Kindle Unlimited has actually paid close to $2 per download read to 10%.

There is more to gain through Kindle Unlimited than through Prime, since any customer can read multiple books through the program.

Another advantage is that Kindle Unlimited downloads help your sales rank whether or not the book is read to 10%.

Kindle sales rank is also getting more competitive. It takes more sales or downloads than ever to maintain the same sales rank. That’s because many KDP Select books are receiving sales rank books through Kindle Unlimited.

There are also KDP Select books whose sales ranks are sliding despite getting Kindle Unlimited downloads, simply because many other books are getting even more downloads.

Just imagine how much those sales ranks would slide without Kindle Unlimited there to give it those beneficial downloads.

Though, if sales rank is sliding, opting out of select may still be enticing, even if the book is benefiting from some downloads. Opting out of Select opens up other doors, like Nook and Kobo.

I’m staying in Select though. I’m seeing a boost, overall, compared to the way it was before. Every book is different though.

It might be worth waiting a month before opting in or out.

Though, if you wish to opt out, you must uncheck a box from your bookshelf to disable automatic renewal AND you must wait for the 90-day period to pass before publishing elsewhere.

Chris McMullen

Copyright © 2014 Chris McMullen, Author of A Detailed Guide to Self-Publishing with Amazon and Other Online Booksellers

  • Volume 1 on formatting and publishing
  • Volume 2 on marketability and marketing

Follow me at WordPress, find my author page on Facebook, or connect with me through Twitter.

Comments

Click here to jump to the comments section:

https://chrismcmullen.wordpress.com/2014/09/16/kindle-unlimited-koll-payment-for-august-1-54/#comments

Short Stories & Kindle Unlimited: The good, the bad, and the whacko

Short

INTRODUCTION

I will make two points in this article:

  1. Don’t sweat the myth that Kindle Unlimited promotes shorter works. It doesn’t.
  2. There is an opportunity to market shorter works through Kindle Unlimited. But it won’t be easy.

If you have short stories that you want to market on Kindle, the second point will present ideas for how to do this effectively.

However, as the first point will stress, Kindle Unlimited won’t open the door for the get-rich-quickly-through-short-works bandwagon.

I’ll explain why I believe that Kindle Unlimited doesn’t actually favor short fiction, while at the same time showing that it is possible to market short stories.

It’s not really contradictory: The key is that selling shorter works is neither easy, automatic, nor obvious. This explains why most short pieces won’t take off, even though it will be possible to market them effectively.

SHORTER BOOKS, BIGGER PROBLEMS

A big myth going around presently is that Kindle Unlimited favors shorter books.

The underlying idea seems to be that it’s easier for customers to reach 10% of shorter books, and 10% is the critical number for getting paid for Kindle Unlimited downloads. (Need an introduction to Kindle Unlimited? Click here.)

Customers could easily get 30% through a short story before realizing that they don’t actually want to finish it, but for a 200,000-word book, they must read 20,000 words before the author will get paid.

But here’s the thing: All books aren’t created equal. There isn’t equal likelihood of customers downloading shorter books and longer ones. This is where most short books are greatly disadvantaged.

Here are several hurdles that authors must overcome in order to succeed in the short reads market with Kindle Unlimited customers:

  • Kindle Unlimited customers tend to be avid readers. It costs $9.99 per month, which amounts to $120 per year, to subscribe to Kindle Unlimited. This will attract avid readers, who will easily get their money’s worth. Spending $10 per month to read short stories won’t seem like a good value to many customers.
  • Avid readers tend to be smart book shoppers. They aren’t likely to be fooled by authors trying to game the system. They are likely to consider the value of books when they shop. Page count will be a factor. So will price.
  • Kindle Unlimited customers may prefer to download higher-priced e-books. It takes ten 99-cent e-books just to get your $9.99’s worth for the month, but if you download five $6.99 e-books, you get a $35 value. Short books are likely to be priced at 99 cents. Simply raising the price of a short story to $5.99 won’t work: Customers will see a large price on little content… and… remember, avid readers are smart book shoppers.
  • Shorter books require even better writing. A few mistakes in a 300-page novel: no problem. One mistake in a 20-page short story: ouch! It’s not just the mistakes, but the mechanics of the writing, the flow of the story, the characterization, the plot, a satisfying ending… the idea has to be fantastic. When you write 100,000 words, you can have a few weaknesses provided that your strengths make the bulk of the book intriguing and enjoyable. In a short work, mistakes of any sort really stand out. The challenge of writing an effective blurb shows how much harder it can be to write much less and do it very well.
  • Writing that works for short stories is different from the kind of writing that works for novels. So if you simply produce a very short version of novels that you’re familiar with, it probably won’t work. You have to research which kinds of short works sell and come to understand how they are effective. (Now the devil’s advocate will say that all writers should try writing short stories—despite the fact that they might be much harder to sell, in general—because learning how to write a short piece well can be highly instructive for writers. Write a short story for what you can gain from it in the long run.)
  • Although readers could take a chance on a short story since little commitment and investment is involved, it’s also true that readers may be pickier when choosing which short stories to read. There certainly are enough short stories out there to choose from. One story doesn’t satisfy a reader for long. What’s the reward for liking the short story? Will there be another 200,000 words worth of writing to enjoy by the same author? You see, when you find a novel that you like, if the author has a few other novels, the reward is a lot more where that came from. If you just have a dozen short stories out, a reader could blitz through the whole collection in a day; you aren’t offering a huge supply of reading material as a potential reward if the reader likes your style.
  • There is much competition from free and low-priced stories. Why should people read your short stories when they can get the entire Sherlock Holmes collection for 99 cents or free? There are many classic short story collections out there at great prices. This comes back to my last point: If you like Sherlock Holmes, or any other classic short work, there is a ton of similar material to satiate your craving for it. If you like a short story by a modern author, often there are just a few more short stories—not enough to satisfy a reader for long.
  • Visibility is a huge issue. Suppose, for example, you want to write a short romance story, hoping to take advantage of the huge romance market. Do you think Amazon wants your short story to show up among hundreds of popular novels when customers search for romance? That could create confusion. So instead your short story should be listed among Short Reads or short story collections. 99% of romance readers will instead be browsing the romance category, looking for novels. There is a marketing challenge here: You’re not just selling a book to romance customers, you’re selling a short story specifically to the very few romance readers who want to read a short story. There is a market for that, just not nearly as wide as the romance novel market.
  • Another marketing challenge is the Look Inside. The shorter your ‘book’ (if you can call it that in this case), the shorter the Look Inside. The Look Inside is a valuable sales tool. A short story has a very short Look Inside. There may easily not be enough there to catch the reader’s interest. You could just give the title, author name, and start the story, moving the copyright notice to the end, but you still need the Look Inside (10%) to be long enough to sell the book.
  • Effective marketing is more costly and time-consuming for a series of short works. It’s fairly affordable to hire out quality cover design and editing for a full-length novel, but can be quite expensive to buy several covers for short pieces or have several short works edited.
  • For those hoping to game the system with short works, customer reviews will be an equalizer. Especially, if they are hoping to benefit from Kindle Unlimited, as avid readers tend to be smart book shoppers.
  • Another equalizer is experience. Customers don’t have to get ‘burned’ too many times to become wiser shoppers. Time favors quality and good value.
  • Even if short works do gain traction, as soon as it becomes popular and fashionable, the market will be flooded with short works. (This really doesn’t affect other authors, as the cream rises to the top. It’s always easy to find books that have achieved success; the not-so-good stuff really isn’t in the way—it falls to the bottom, out of the way.) The thing is, the flood will make it ineffective for authors hoping to generate high rewards with little effort, which means the flood won’t last. Those who succeed through quality writing, satisfying a niche audience, will continue to thrive—hard work, good ideas, and effective marketing will always help such authors thrive.

There are different kinds of short books. Let’s do authors a favor and not generalize them. Some authors slap something short together quickly, hoping to get rich. Other writers craft short pieces with masterful storytelling. These are the two extremes, then there is much in the middle. We would do a great disservice to masterful storytellers who specialize in short fiction by saying bad things about all short works.

A few of my points above specifically address the gamers, but the rest are hurdles that all short works authors must overcome in order to thrive in the short reads market.

BOOK CHOPPING

Okay, there is another extreme that I should address: book chopping. Again, I can’t imagine this being effective, and I will explain why.

Here is what I mean by book chopping: An author takes a regular-length novel and divides it up into smaller chunks (as short as a chapter, perhaps, or it could just be a few parts).

The idea behind this ‘strategy’ is that Kindle Unlimited customers can download several books without paying an extra penny, while the author earns a royalty every time a customer reads 10% of one of his or her books.

So, you could sell a novel and earn $1.80 or so for one download, or you could split that same novel into 5 parts, earning $9 from every customer who finishes the novel. Why stop there? Split it into 20 parts and you make $36 for that single book, right?

Except… Kindle Unlimited customers aren’t likely to reward this behavior, for the many reasons listed above.

On top of that, you have several ‘chapters’ cluttering up your Kindle, and you can only store 10 Kindle Unlimited downloads at a time. Suppose you’re reading Chapter 32 and would like to go back to Chapter 4 to refresh your memory of something that happened earlier. INCONVENIENCE doesn’t sell books!

Sure, some unscrupulous authors might find a way to abuse the system in the short run with this, but (A) they won’t find substantial or long-term success by chopping books and (B) Amazon tends to learn how to prevent authors from taking advantage or catch and provide a fit punishment for those who game the system. It’s not going to work to achieve anything significant, and even for those who are so unscrupulous, the benefits definitely don’t outweigh the risk.

Series are an exception. When each volume of a work reaches a natural division, and where each volume provides a complete, satisfying reading experience, then it’s not a chopped book—it’s a series. Many customers appreciate series, and series authors often do well. You can be a successful series authors, and marketing a series has many advantages. It’s even possible to develop and market a series of short pieces, but this won’t be a chopped novel—each piece will be effective by itself.

MARKETING SHORT WORKS

It is possible to succeed with short fiction or nonfiction pieces.

It’s not easy. You have to overcome the many challenges that I’ve outlined above.

It will take hard work and effective marketing. Find ways to use hard work and brain power to overcome these challenges, and you can stand out from the crowd and succeed with short pieces.

Following are some ideas to help you with this.

  • You need to cultivate a culture for your series of short works. You need to play an angle that gives your short reads an edge. You need to find a concise way to announce this clear and up front, e.g. in a subtitle, through a strap line, as a cover byline, in your blurb, with a slogan, on all of your marketing materials, etc. It’s the card you have to play. Take full advantage of it. Sometimes, it’s not enough to fill a need: You have to show people that they have a need, and you have what they didn’t know they needed. See my next bullet for some specific suggestions. But, whatever angle you play, focus on fostering a culture. This is the key to long-term success.
  • Here are some possible angles. Commuter fiction—read on a plane, subway, or train: Market to commuters, show how your series is tailored for this. Lunchtime reading—have some free time at lunch, but can’t really go anywhere to enjoy it. Morning inspiration—short motivating reads to help people get their days started on the right foot. Bedtime reading—a leisurely way to wind down for a good night’s sleep. People aren’t going to think of the angle for you. You need to find the angle that suits your short works best, and make this point abundantly clear. Don’t sell the book: Sell the benefit.
  • You can get good visibility through wise choices for your categories and keywords. The problem is that you only get to choose 2 categories and 7 keywords, so you must do some research and choose wisely. Find short works similar to yours selling well on Amazon and see which categories they are listed under, and see which keyword searches they show up in. The most relevant category may be Kindle Short Reads (click here) at Amazon.com, but this category is not available through the publisher’s choice (see here); yet there are 700,000 Kindle e-books in this category (with 250,000 in KDP Select), so although it’s said to be ‘restricted,’ evidently it’s easy (or automatic) to get in just by having your book the proper length.
  • Check out the Kindle Short Reads page, as it provides a useful guide for how long it takes to read how many pages. You need to know this. If you’re selling your book as commuter fiction or lunchtime fiction, for example, you need a reliable estimate for how long it will take to read your book. This number is valuable. “Have 30 minutes to read on your lunch or on a train ride? This 15-page book will hit the spot.”
  • Research a couple of specific keywords that may be relevant for your short work. Start typing in the search field at Amazon and it will show you popular matches. You want matches that are both popular and specific to your book; that helps you gain visibility (it doesn’t help to be the last book in a search with many results). Note that popularity varies whether you search in all departments, books, Kindle, Short Reads, or a specific category: So test them all out. Note that “commuter fiction,” for example, doesn’t even pull up a match presently, so don’t waste your keyword with things like this that are never searched for. “Short reads,” on the other hand, is a popular search (with 1250 results, though, so you need to be high up on that list).
  • You want to create a series of short works that stand out and are easy to find. You could put “commuter fiction,” “lunchtime fiction,” “Lisa’s shorts,” “inspirational stories,” or something in a subtitle or series title (though you have to number series with Kindle) or in parentheses, making it easy to find your brand—while also declaring it a short work. If the subtitle or parenthetical note, which will be visible in search results, also emphasizes the advantage of your book’s length (e.g. Commuter Fiction), even better.
  • The covers of your series need to send a clear, unique brand. Have a dozen short stories? You want them all to look uniform. You want them all to be very easy to find. A customer sees any of your short books and immediately recognizes the series. Branding is vital. You want new customers to see that you have a wealth of similar books, i.e. the reward for trying you out and liking your writing is much more where that came from. You want old customers to easily find your other pieces. An appealing (to your target audience) visual brand that creates a unique signature, that’s what you want.
  • Write several similar short books. You’re not likely to sell a ton of short books if you only write one or a few; one-hit wonders aren’t likely in short fiction. If you succeed in hooking some customers on the benefits of your short works, where you really stand to benefit is when you get customers to buy several of your books. It also shows new customers that you’re a serious author, and that there is plenty of reading material similar to any of the short pieces that you offer.
  • Once you succeed in growing a fan base, you want timely releases. They’re short, so you can write, say, one a month. (Say, you spend a month writing. You pass it onto your editor, getting it back weeks later. You also wait for your cover designer. It might take a few months before it’s publish-ready. But once the train gets started, you can have one to publish every month.) You want to publish regularly, so fans start to look forward to the 15th of every month (or whenever, but they know when to expect it). An advantage of releasing a short piece in 30-day intervals is that you always have a book in the Last 30 Days new release category.
  • Amazon tends to help authors who (scrupulously) help themselves. Effective premarketing and marketing can pay big dividends, not just in immediate sales. Another factor on your side is word-of-mouth. Learn the craft and produce quality short reads, and it can lead to long-term success.
  • Look for marketing groups, e.g. in Facebook or at Goodreads. Some groups will correspond to your genre, e.g. fantasy or romance. Also look for groups dedicated to short reads (heck, you could start a group). If you’re using Kindle Unlimited, look for groups associated with this, too.
  • Make one short read free. You should plan to publish dozens of similar books, so, really, why can’t you afford to make one good one permanently free? The freebie won’t be in KDP Select. Publish it on Kobo, Smashwords, etc. At Kobo and Smashwords, you can make it free, and then you (or customers) can notify Amazon of the lower price, politely requesting a price match. The hope is that your freebie will encourage many readers to try out your other stories. Remember, your work has to be good enough to make readers want more of the same. Making junk free isn’t helping anybody.
  • Educate your audience. Show them the benefits of Kindle Unlimited, e.g. how for $9.99 per month they can read your series of dozens of books without paying an extra penny. Show them how to find short reads (include the link to the Kindle Short Reads category). Explain how they might benefit from short reads, e.g. during commutes or lunchtime. Of course, you mention your series at the end of your marketing endeavor. If you’re promoting commuter or lunch fiction, remind your readers to stock up on the weekends, so they don’t waste precious time during their commutes or lunch breaks just searching for the next read.

Chris McMullen

Copyright © 2014 Chris McMullen, Author of A Detailed Guide to Self-Publishing with Amazon and Other Online Booksellers

  • Volume 1 on formatting and publishing
  • Volume 2 on marketability and marketing

Follow me at WordPress, find my author page on Facebook, or connect with me through Twitter.

Comments

Click here to jump to the comments section:

https://chrismcmullen.wordpress.com/2014/08/18/short-stories-kindle-unlimited-the-good-the-bad-and-the-whacko/#comments

WOW! Kindle Unlimited Paid $1.81 in July, 2014 (Updated)

Fourth Quarter Pic

Kindle Unlimited

KDP Select historically paid approximately $2 per Amazon Prime borrow.

Kindle Unlimited allows customers to download multiple books, whereas Amazon Prime used to allow only one borrow per customer.

Also, Kindle Unlimited readers don’t need to read their books on a Kindle device.

So there was much concern that Kindle Unlimited may pay much less than the usual $2 per borrow.

Well, the results are in, and Kindle Unlimited paid $1.805 per download/borrow.

Three factors helped out:

  1. Amazon added $800,000 to the July, 2014 KOLL fund, bringing the total to $2 million for the month.
  2. Then Amazon added another $785,000, bringing the KOLL fund up to $2,875,000 for July, 2014. That’s more than double the usual fund.
  3. Customers had to reach the 10% mark of the book before authors would receive royalties for Kindle Unlimited downloads.

The August, 2014 KOLL fund will again be $2 million.

Although July was a partial month, it also received a big boost of activity as the program was new and many customers were trying it out and using their free trial periods.

Update: In August and September KOLL paid $1.54 and $1.52, respectively; while in October, it paid $1.33. It’s up to $1.39 for November, 2014 and $1.43 in December.

I had been predicting significantly less, yet I’m very happy to have been wrong. 🙂

Chris McMullen

Copyright © 2014 Chris McMullen, Author of A Detailed Guide to Self-Publishing with Amazon and Other Online Booksellers

  • Volume 1 on formatting and publishing
  • Volume 2 on marketability and marketing

Follow me at WordPress, find my author page on Facebook, or connect with me through Twitter.

Prediction for How Much Kindle Unlimited Downloads Will Pay in July, 2014

Unlimited Books

What Will Kindle Unlimited Pay?

We won’t find out for sure until a couple of weeks into July.

In the meantime, the best we can do is make predictions based on what limited data we do have.

When July, 2014 began, the KDP Select Global Fund was $1.2 million. This was to be distributed among Amazon Prime borrows of KDP Select books in the US and UK.

Prior to the introduction of Kindle Unlimited, Amazon typically paid approximately $2 per Amazon Prime borrow.

Kindle Unlimited was introduced a little over halfway through the month of July. $800,000 was added to the KDP Select Global Fund, bringing the total fund to $2 million. Another $785,000 has since been added, bringing the fund to $2,785,000.

A big factor will be that customers can download several Kindle e-books through Kindle Unlimited, whereas Amazon Prime customers can only borrow one book per month.

Thus, the total number of downloads/borrows can be expected to be much higher than the typical number of KDP Select borrows has been in the past.

This will likely reduce the KOLL payments for July, 2014 compared to previous months.

Keep in mind that there are likely to be excessive downloads through Kindle Unlimited for the first couple of months of the program, but this will likely taper off and become steady thereafter. Likely, the KOLL payments will rise somewhat, if not return to normal, by September, 2014.

Update: The results are in now. Kindle Unlimited paid $1.81 per borrow/download in July, 2014, much higher than I was expecting. This is largely due to an unexpected increase in the KOLL fund from $2,000,000 to $2,785,000.

Predicting KOLL Payments for July, 2014

I will base my prediction on the variety of Kindle e-books that I see in my sales reports.

I will also show you how to do the calculation so that you can compare with your own numbers.

You’ll need to visit KDP and get the following numbers:

  • The total number of borrows/downloads from July 1 thru July 30. (We’ll ignore the 31st to get a nice, round number. It will make a small difference, but we’re approximating anyway, so… Be sure to include any UK borrows.)
  • How many borrows you had from July 1 thru July 17. (Look at your Sales Dashboard graph and add up the borrows for those dates. If you’re reading this message in August, change the dates of the report to July. Be sure to include any borrows you may have had in the UK.)

(Only Prime customers can borrow in the UK. So any borrows you see in the UK aren’t from Kindle Unlimited.)

Let me use the following symbols to represent the two numbers that you looked up:

  • D = total number of borrows/downloads thru July 30.
  • C = total number of borrows thru July 17.

I’ll work this out for the following example:

  • D = 48
  • C = 9

Here are the steps:

  1. Take the original KDP Select Global Fund of $1.2 million and divide by $2. This equals 600,000. This estimates how many Amazon Prime borrows in the US and UK combined Amazon was predicting prior to the debut of Kindle Unlimited.
  2. Define B = C x 30 / 17. In my example, B = 9 x 30 / 17 = 16. This approximates how many borrows you would have had without the introduction of Kindle Unlimited (assuming roughly equal likelihood of borrows on any day throughout the month).
  3. Define A = D / B. In my example, A = 48 / 16 = 3. This approximates by which factor your total number of borrows/downloads increased as a result of Kindle Unlimited.
  4. Define N = A x 600,000. In my example, N = 3 x 600,000 = 1.8 million. This is your estimate for the total number of borrows/downloads by all customers in July based solely on your own data. (If your data isn’t representative, i.e. close to what happened on average, then your projection will be way off. But the game is still fun to play, isn’t it?)
  5. Divide $2 million by N. In my example, this is $2 million / 1.8 million = $1.11. This is your prediction for how much each borrow/download will pay. The closer the data for your own books happens to be to the true (unknown, as of yet) average, the better your prediction will be. Update: Divide $2,785,000 by N, since Amazon added an extra $785,000 to the global fund.

My KOLL Prediction for July, 2014

That’s what I did to arrive at my prediction:

  • Based on what limited data I have, I’m predicting that KDP Select borrows/Kindle Unlimited downloads will pay between $1.10 and $1.25 apiece for July, 2014. You heard it here first. (But if I turn out to be way off, please forget that.) Update: My range changes to $1.53 to $1.74 based on this increased fund.
  • Although I have a variety of Kindle e-books on my sales reports, just like you, my data could be well below or well above average. So the actual payment could be much higher or lower.
  • So, to be safe, I’m going to widen my prediction to $0.85 to $1.50. 🙂 This changes to $1.18 to $2.09 based on the increased global fund.
  • If Amazon adds to the KDP Select Global Fund for July, 2014, that may change my prediction considerably. Indeed, Amazon did add another $785,000 to the global fund.
  • I would like to believe that it will be closer to $2 than my data projects, and that may very well turn out to be the case. Authors and Amazon both would probably like for KOLL to pay closer to $2. Doesn’t mean it’s going to happen, though. Let’s cross our fingers, just in case.
  • I also predict that KDP Select borrows/Kindle Unlimited downloads will pay closer to $2 starting in September, 2014, once many free trials have ended and once customers have had a couple of months to play with this new feature. (Note that I said closer to $2. I didn’t say $2.)

What is your prediction based on your data? The more numbers we see in the comments section, the more data we’ll have to judge by. You don’t have to say how many borrows you’ve had. But whatever your prediction turns out to be, that would be appreciated.

Update: The results are in now. Kindle Unlimited paid $1.81 per borrow/download in July, 2014, much higher than I was expecting. This is largely due to an unexpected increase in the KOLL fund from $2,000,000 to $2,785,000.

What about Sales?

My borrows/downloads were over 5x more frequent than normal from July 18 thru July 30. (Yes, I’ll get to sales. Patience, please.)

That brings my overall number of borrows/downloads for the month to roughly 3 times the usual number of borrows. Hence my prediction of $1.10 to $1.25 for July, 2014.

So even if KOLL pays $1.10, I would still be making over 50% more for Kindle Unlimited downloads than I ordinarily would have made from Amazon Prime borrows. KOLL would have to pay $0.66 or less for my net royalties for borrows to be less than usual. (This remains a possibility, since we don’t know what KOLL will really pay as of now.)

In comparison, my Kindle sales were 15% more frequent than normal from July 18 thru July 30. Yes, my sales improved, too. I would attribute that to the improved sales rank resulting from the many additional downloads in Kindle Unlimited.

Strangely, my best day for Kindle sales in July, 2014 was July 28. My best day for borrows/downloads was July 24. Kindle Unlimited downloads held fairly steady for me all the way thru the 30th, though I’ve heard from others that downloads have tapered off for them.

Disclaimer

This prediction is for entertainment purposes only. I make no guarantees nor warranties. I’m not to be held accountable for any differences between the actual KOLL payments and my prediction. If you blow a fortune gambling based on my prediction, you acknowledge that I warned you—right now—that you shouldn’t have done so. However, if you happen to win big, you’re welcome to send a tip. 🙂

Chris McMullen

Copyright © 2014 Chris McMullen, Author of A Detailed Guide to Self-Publishing with Amazon and Other Online Booksellers

  • Volume 1 on formatting and publishing
  • Volume 2 on marketability and marketing

Follow me at WordPress, find my author page on Facebook, or connect with me through Twitter.

Comments

Click here to jump to the comments section:

https://chrismcmullen.wordpress.com/2014/07/31/prediction-for-how-much-kindle-unlimited-downloads-will-pay-in-july-2014/#comments

More KDP Select Books on Bestseller Lists

Best Seller

Amazon Bestseller Changes

In the past week, several books enrolled in KDP Select have landed themselves on the bestseller lists at Amazon.

This is according to data tabulated at Publishers Lunch: http://lunch.publishersmarketplace.com/2014/07/daily-update-influence-kindle-unlimited-amazon-bestsellers-grows/.

You can easily check the top 100 bestsellers at Amazon to see the current list.

The reason for the change is the introduction of Kindle Unlimited, Amazon’s new $9.99 per month subscription service (learn more here).

Many customers are signing up for Kindle Unlimited, then downloading Kindle e-books from Amazon.

This is boosting the sales ranks of participating books, while hurting the sales ranks of other books.

600,000 titles are participating in Kindle Unlimited. This includes 100,000 published titles (such as Harry Potter) and all 500,000 KDP Select books.

So who’s benefiting?

  • Self-published KDP Select books that are attracting Kindle Unlimited customers.
  • Amazon Publishing books. (Did you know that Amazon publishes books? I don’t mean self-publishing. Amazon has its own imprints, too.)
  • Small presses that agreed to participate in KDP Select.

Who’s not?

  • Big traditional publishers and other publishers that aren’t presently participating in Kindle Unlimited.
  • Self-published books that aren’t enrolled in KDP Select.

We’re only a few days into Kindle Unlimited, yet bestseller lists have already seen a big swing, with roughly double the number of self-published KDP Select books landing on the charts.

Kindle Unlimited isn’t helping every book in the program, but many books are receiving boosts to their sales ranks through it.

It appears that Kindle Unlimited is—at least in the early going—having a strong influence on Amazon sales rank.

Obviously, landing on the bestseller lists is amazing for exposure, and falling off really hurts exposure.

Love it or hate it, one thing is for sure: Kindle Unlimited is creating an impact, and it’s having some fascinating effects.

Chris McMullen

Copyright © 2014 Chris McMullen, Author of A Detailed Guide to Self-Publishing with Amazon and Other Online Booksellers

  • Volume 1 on formatting and publishing
  • Volume 2 on marketability and marketing

Follow me at WordPress, find my author page on Facebook, or connect with me through Twitter.

Comments

Click here to jump to the comments section:

https://chrismcmullen.wordpress.com/2014/07/24/more-kdp-select-books-on-bestseller-lists/#comments

How Can Kindle Unlimited Improve Your Sales?

More Sales

Kindle Unlimited

For $9.99 per month, customers can check out up to 10 Kindle e-books from an extensive library of 600,000 titles at Amazon. All books enrolled in KDP Select are participating (plus 100,000 others from mostly small presses). Authors will receive royalties in the form of KDP Select borrows. The July, 2014 KDP Global Fund has been increased to $2,000,000. You can read more about Kindle Unlimited by clicking here.

Authors need to decide whether to opt in or opt out of KDP Select. The big question to ask is whether or not participation in Kindle Unlimited will improve the book’s sales.

Obviously, some books will thrive in this program, others will not. The difficult question is predicting how your book will do. I will discuss the pros and cons of Kindle Unlimited by focusing on how it could improve sales, and then I will discuss the opposite.

How Can Kindle Unlimited Improve Your Sales?

  • Kindle Unlimited customers can download KDP Select books for free. They can store up to 10 borrowed books on their devices, then download more once they return any of those 10. Every time a customer downloads a book and reads past the 10% point, you receive a royalty. For Kindle Unlimited customers, your book is permanently free (well, they do pay $9.99 per month for the privilege) AND you earn a royalty when it’s read. Customers are looking for books to download.
  • Kindle Unlimited offers customers the opportunity to try newbie authors or indie authors without risk. Bad book? Doesn’t cost a penny. Just get a new one. There are hundreds of thousands of indie authors, though, so just because many customers will be trying out indie authors doesn’t mean you’ll be one of those authors. As always, you need good content, good packaging, and effective marketing to make the most of the opportunity.
  • KDP Select books that succeed in getting numerous downloads will have an advantage over books that aren’t in Kindle Unlimited. It allows indie books to compete with traditionally published book more than ever. Every download improves your sales rank. That improved sales rank helps you generate even more sales. Books that thrive in the program can reap many benefits. Not all books will thrive; the better your book, packaging, and marketing, the better your chances (but that’s true even if you opt out of KDP Select).
  • Another benefit of frequent downloads is more exposure through customers-also-bought lists. Kindle Unlimited naturally helps books that help themselves through good content and marketing.
  • More downloads also leads to more reviews. Some books won’t get additional downloads, so none of this will help those books (but for those books, opting out might not be any better). Kindle Unlimited puts a premium on writing the best book you can.
  • The best benefit of more downloads is for books with excellent word-of-mouth potential. Here is where Kindle Unlimited can really favor fantastic books. Succeed in getting frequent downloads in Kindle Unlimited, and if you also have great content, you may see a very significant long-term growth through word-of-mouth sales. Many books don’t succeed in generating word-of-mouth recommendations, but those that do can really take off.
  • If your book is perceived as a great value, Kindle Unlimited subscribers might be attracted to your book. Since they can get any book free, they aren’t shopping for the cheapest book—they’re shopping for the best value. Suddenly, a higher price seems like a better value (since it’s free, why not read higher-priced books?). In addition to price, they will look at the length of the book and the quality (it could be that longer books are a better value; time will tell). But with a higher list price comes higher expectations, and your book better deliver on those heightened expectations to thrive in the long run.
  • If you have a great book that customers want to keep, the customer might want to keep it permanently. The customer can only store up to 10 borrowed books on the device. When a customer cancels Kindle Unlimited, all the books disappear. So the customer might want to buy your book—as a sale through Kindle, or as a paperback. This way, in time, outstanding books may actually sell two copies to some customers (once as a KDP Select borrow, once as a sale).
  • Thousands of customers are using the free 30-day trial. When the trial ends, some will cancel their subscriptions. Now suppose they downloaded your book during the free trial period and wished they could continue reading it. Well, they can. Now they just have to buy it. Many books will actually earn two royalties in the first couple of months of the program because of this.
  • Like any tool, the tool itself might not have much value to you, but if you do effective marketing with the tool, it can pay significant dividends. Kindle Unlimited seems like it may be just like such tools. The more sales you drive through effective marketing, the more sales rank, reviews, and word-of-mouth sales can help your book. The quality of the book and packaging are important, too. For example, try using the #Free with #KindleUnlimited hashtags, or look for Facebook groups specifically for Kindle Unlimited, or show parents what a value Kindle Unlimited can be for their kids. Where there is a will…

Remember, just because it can improve sales doesn’t mean it will. Some books will thrive in the program, but others won’t.

Even if the KDP Select per-borrow royalty goes way down (it’s usually around $2), if you have more customers than usual, it may be a fair trade-off. Additional readers gives you:

  • Long-term potential for valuable word-of-mouth sales.
  • Improved sales rank.
  • More reviews, on average.
  • Greater exposure.

If your book enjoys any of these benefits, in the long run, it may even be worth staying in KDP Select even if your net income diminishes slightly.

And if you opt out, there’s no guarantee that will turn out to be any better. But it could be, so let’s look at the other side of the coin.

Could Kindle Unlimited Hurt Your Sales?

  • Well, if you choose to opt out KDP Select, any customers in Kindle Unlimited may be reluctant to buy your book when there are 600,000 others that they can get for free. But for the remaining bullet points, let me focus on how staying in KDP Select may actually hurt your sales, or where opting out may be the better option.
  • The biggest drawback of KDP Select still is, and always has been, exclusivity. You’re not allowed to publish the e-book edition of your book (or one similar to it) on Nook, Kobo, Smashwords, or anywhere else. Some books sell primarily on Amazon; those books will probably be better off in KDP Select than not. Other books sell 25% or more through other sales channels; for these books, it’s possible that exclusivity isn’t worth the sacrifice. Though Kindle Unlimited may squeeze Kindle’s competition, reducing the potential to draw sales from other channels.
  • If your book doesn’t thrive in Kindle Unlimited, your sales rank will slip and that will in turn deter sales somewhat. You can actually get a few downloads every day and slip in sales rank because so many other KDP Select books are getting more downloads than you are. This will in turn diminish your prospects for reviews and word-of-mouth sales.
  • If Kindle Unlimited readers perceive that your book doesn’t have enough value, that may deter sales. They may deem that the price is too low (it would take 10 99-cent books just to make the $9.99 per month fee pay off), maybe the book is too short, or maybe they will scrutinize the Look Inside and pass on anything that doesn’t seem to be high in quality.
  • One of the bad things about freebies may be true of Kindle Unlimited: When customers can get something for free, they don’t always read the description or check the Look Inside carefully (or even at all!). Then they leave bad reviews because the book didn’t turn out as they had imagined. Sometimes bad reviews actually improve sales (especially, when it’s clear the customer made a mistake), but sometimes they do hurt sales, too. You won’t have to worry about customers hoarding books and not reading them, though, because they can only store 10 on the device.
  • If you’re used to stimulating sales through promotional strategiesfreebies, 99-cent prices, BookBub, etc.—these marketing tools may become less effective. What will a Kindle Unlimited customer care about freebies or low prices? They can get $9.99 books for free!
  • Series authors are impacted by Kindle Unlimited. It may be wise to remove the omnibus from KDP Select (but you’re probably still bound by the exclusivity terms if your individual volumes are in KDP Select). The omnibus will lose its effectiveness with Kindle Unlimited readers (though this may help the sales ranks of your individual volumes). If you ordinarily make the first volume free or 99 cents, or price all of your books at 99 cents, this strategy may not be appealing to Kindle Unlimited readers looking for a good value. Maybe a higher price would appeal to these readers more. (Or if all your volumes are cheap, maybe it does make sense to leave the omnibus in KDP Select—that volume may offer enough value to receive a download, if the individual volumes don’t.)
  • Mismatched value could lead to frustrated buyers and negative reviews. For example, if you take a book that’s really not perceived to be worth more than $2.99 and raise its price to $6.99, customers hoping to get a $6.99 value may be disgruntled. Higher-priced books are only favored if they deliver on the higher expectations.
  • If you have a long book and customers aren’t enjoying the beginning enough to reach 10%, you could potentially receive a bunch of downloads, but never see the royalties. More than ever, it’s important to engage the reader immediately and hold the reader’s attention.

Additional Notes

  • If your book wasn’t selling to begin with, Kindle Unlimited probably isn’t the answer to your sales woes. It could be the cover, the blurb, the Look Inside, reviews (maybe even the good ones), the idea, the lack of marketing… Don’t expect Kindle Unlimited to be that magic wand you were hoping for.
  • It doesn’t make any sense to compare July, 2014 to June, 2014, i.e. to compare your income with Kindle Unlimited to your income the way things used to be. The way things used to be just isn’t an option. What you really want to know is, will you be better off in KDP Select, or out of it?

Chris McMullen

Copyright © 2014 Chris McMullen, Author of A Detailed Guide to Self-Publishing with Amazon and Other Online Booksellers

  • Volume 1 on formatting and publishing
  • Volume 2 on marketability and marketing

Follow me at WordPress, find my author page on Facebook, or connect with me through Twitter.

Comments

Click here to jump to the comments section:

https://chrismcmullen.wordpress.com/2014/07/23/how-can-kindle-unlimited-improve-your-sales/#comments

#Free #ebook w/ #KindleUnlimited (**New** Twitter Amazon Hashtags for Kindle Unlimited) #AmazonCart

Kindle Unlimited Hashtags

Amazon recently launched Kindle Unlimited, a subscription service where customers can access 600,000 titles (including all 500,000 KDP Select tiles plus 100,000 more from small presses, with some popular series like Harry Potter in the mix) for $9.99 per month. A customer can borrow up to 10 books on the device (which doesn’t have to be a Kindle) before needing to return one to make room for another. Authors receive a royalty in the form of a KDP Select borrow for each Kindle Unlimited download after the customer passes the 10% mark. You can read more about Kindle Unlimited by clicking here.

Like it or hate it, neither praising nor complaining are marketing strategies. If you enroll in KDP Select, you want to find marketing strategies that help you benefit from the program; if you opt out of KDP Select, the presence of Kindle Unlimited still impacts how to market your book effectively. Adapting to change and finding effective marketing strategies are proactive ways to reap benefits while others idly watch, wait, and remark.

For example, you could be using hashtags to help with your Twitter marketing. If you have already built a large fan base and release a new book, Twitter can help with that, but some authors use Twitter effectively to do far more than that. For one, you can use hashtags effectively. For another, if you become an active, appreciated member of a Twitter network, you can garner much support for your occasional promotions in the form of retweets, for example.

Here are some hashtags that you might be using to market your KDP Select e-books in the Kindle Unlimited era:

  • Hashtag #KindleUnlimited. Make it easy for Kindle Unlimited customers to see that they can get your Kindle e-book for free.
  • Hashtag #Free. Like the example I made with the title of this article, you can combine these hashtags (#Free with #Kindle Unlimited). You might also include Reg. $5.99 (or whatever the list price is).
  • Hashtag #AmazonCart. This new feature helps Twitter customers quickly add your Kindle e-book to their carts to buy later, and offers you the ability to monitor the effectiveness of your promotional tweets. Click here to learn more.

You don’t want to spam your followers to death, but if you learn to use Twitter effectively, build a following, and become a respected member of your network, it is possible to use Twitter effectively to promote your e-book.

Chris McMullen

Copyright © 2014 Chris McMullen, Author of A Detailed Guide to Self-Publishing with Amazon and Other Online Booksellers

  • Volume 1 on formatting and publishing
  • Volume 2 on marketability and marketing

Follow me at WordPress, find my author page on Facebook, or connect with me through Twitter.

Comments

Click here to jump to the comments section:

https://chrismcmullen.wordpress.com/2014/07/23/free-ebook-w-kindleunlimited-new-twitter-amazon-hashtags-for-kindle-unlimited/#comments

Marketing Children’s Books with Kindle Unlimited

Childrens Reading

Marketing Opportunity for Children’s Authors

Children’s authors—and to some extent, even tween and teen authors—have the potential to use Kindle Unlimited as a marketing opportunity.

There are many parents, teachers, educators, and librarians who would love kids to READ much more.

Kindle Unlimited is an incredible value for parents:

  • Bedtime stories. Kindle Unlimited gives access to a huge collection of children’s stories, far more than can be stored on a bookshelf. Some of those children’s book are pretty expensive, too, but Kindle Unlimited offers an amazing selection for $9.99 per month. Kids will love the opportunity to read along on a Kindle Fire (or another device) as the parent operates the device.
  • Reading fluency. From elementary school to young adults, access to tens of thousands of children’s, tween, and teen stories for $9.99 per month is a great opportunity to encourage kids to develop a love for reading by finding books that interest them. Get a book they didn’t like? No problem: Find another! The more they read, the more fluent they will become (it helps not only improve English, but also writing and vocabulary—years of practice will be valuable on standardized exams), and the more they will want to read as they get older. Help make reading a habit.
  • Educational resource. Need homework help? Need more practice? Want to learn more about a topic that caught your interest in school? Kindle Unlimited provides access to numerous Kindle educational titles that can help with learning, study aids, and nonfiction reading. Parents can learn more, too, or discover books that help them teach particular skills. All that at your fingertips for $9.99 per month.
  • Access to a library on your fingertips. Would you rather have your child searching on the internet—where they can find lord knows what—for school help, or would you rather have access to a huge library of published e-books for $9.99 per month? You can check out up to 10 titles at a time. Then simply return one title to check out another.

If every parent takes full advantage of Kindle Unlimited there would be an astronomical amount of downloads (thereby diminishing the KDP Select download royalty). But many parents won’t realize the full potential, and there are many people subscribing to Kindle Unlimited who aren’t parents or who aren’t subscribing for the benefit of their kids. There also is a Restrictions paragraph in the terms of use. Amazon didn’t specify a number, but if you go overboard downloading books, that paragraph might become applicable.

But Kindle Unlimited is an amazing resource for parents. I’m certainly subscribing.

Authors of children’s, tween, and even teen books can take advantage of this. Show parents what a value this is for their children, with examples of how they can use it well. Emphasize how it can help with reading and learning.

The more parents who use Kindle Unlimited to help build reading fluency or improve learning, the more children’s authors in KDP Select who will be benefiting from more downloads through Kindle Unlimited.

You have the opportunity to gain visibility among parents while advertising the educational benefits of Kindle Unlimited. Surely, many parents will check out your children’s books for helping them see the benefits.

All authors enrolled in KDP Select need to be thinking about possible benefits of Kindle Unlimited for their books, and striving to find marketing strategies to help realize these benefits. For example, if you’re a flash fiction author, you want to advertise to flash fiction readers how they can get a great value from Kindle Unlimited.

It’s not just KDP Select books or just indie books. There are 100,000 books from various (mostly small publishers) in addition to 500,000 books from KDP Select. Harry Potter and many other books that your kids may want to read are in the mix.

Chris McMullen

Copyright © 2014 Chris McMullen, Author of A Detailed Guide to Self-Publishing with Amazon and Other Online Booksellers

  • Volume 1 on formatting and publishing
  • Volume 2 on marketability and marketing

Follow me at WordPress, find my author page on Facebook, or connect with me through Twitter.

Comments

Click here to jump to the comments section:

https://chrismcmullen.wordpress.com/2014/07/22/marketing-childrens-books-with-kindle-unlimited/#comments

Will $5.99 be the new FREE?

Free Reading

Book Pricing Strategies

Amazon recently launched Kindle Unlimited, which allows customers to download multiple books all for just $9.99 per month. The selection includes all 500,000 KDP Select books plus an additional 100,000 books, including Harry Potter. (Read more about Kindle Unlimited by clicking here.)

If Kindle Unlimited really catches on—it looks quite promising for readers—it could be a game-changer for pricing Kindle e-books.

Many customers are indeed trying Kindle Unlimited out, and as more customers do this, it will surely impact sales ranks of Amazon e-books.

Let’s look at a little history:

  • 99-cents has often been a popular price-point. It’s cheap enough that customers can buy on impulse and not worry too much if it doesn’t work out. But many also believe that you get what you pay for, and believe this more strongly after a few books don’t work out.
  • When KDP Select first launched, FREE was a popular promotional strategy that worked for many authors. But then FREE lost its luster.
  • $2.99 has been a popular price point. You have to sell 6 times as many books at 99 cents to make the same royalty at $2.99, plus the higher price suggests higher quality than 99 cents.
  • Recent studies have shown that $3.99 to $5.99 is a profitable price-point. Indeed, many customers shop this slightly higher price range, expecting to find better quality here. (The study also showed that $9.99 was highly profitable, but nonfiction and big-name authors have lent popularity to that range.)

In the past, many books have sold in the free to $2.99 price range because many customers have been thinking about saving money—and about the risk of a higher-priced book not turning out well.

Kindle Unlimited customers are likely to have a different mindset:

  • Kindle Unlimited customers aren’t asking, “What’s affordable?” Once you spend $9.99 for the month, every book you want to read is essentially free.
  • So they are instead asking, “What’s the best book I can read?” They are looking for the best book, not the best price. If they do look at price, it’s as a guide to value.

The value of e-books may be changing. It is, at least, for Kindle Unlimited subscribers:

  • Cheap price-points have no value to Kindle Unlimited readers. Free isn’t a good deal to them. Instead, low prices may suggest low quality.
  • Higher-priced books may have more value to Kindle Unlimited readers. You have to read ten 99-cent books to get your $9.99’s worth for the month, but if you read ten $5.99 books, that’s a $60 value.

Since Kindle Unlimited has just launched, it still remains to be seen how much Kindle Unlimited customers will impact book pricing strategies and Amazon sales ranks.

Here are some things to look for:

  • Will 99-cent thru $2.99 books slip in the Amazon rankings?
  • Will $3.99 thru $9.99 Kindle Select books rise in the Amazon rankings?
  • If higher-priced Kindle Select books do rise in rankings, will that improve their sales, too?
  • Will KDP Select freebies and Countdown Deals become less effective?
  • Will BookBub and other promotions become less effective?

Even if $2.99 and lower books are enrolled in KDP Select and receive downloads, if other books—such as $5.99 books—are receiving even more downloads than they are, then those $2.99 and lower books will still fall in the rankings despite the downloads. There may be a lot of books that used to have sales ranks in the 100,000’s moving up to the top and pushing other books down in the ranks.

The effect may not be immediate. Customers also look at reviews. Covers, blurbs, and great beginnings will always matter. Books at the top probably have good packaging and many reviews, and books at the bottom may still need to build reviews. But as more readers try out higher-priced books, their popularity may grow and they may gain more reviews. Many Kindle Unlimited readers will approach the book-buying process differently, and it will eventually have some discernible effects. If the cover, blurb, or Look Inside have problems, this will deter sales regardless of the price-point.

Either way, the book must command the price it has. If you simply take a 99-cent short story and reprice it at $5.99, it’s probably not going to be perceived as a better value suddenly. Plus, if customers think the book is worth much less than the list price, it’s likely to show up in a review.

Rather, if a book really is worth $5.99, but has been priced lower based on how the market had been prior to Kindle Unlimited, if that book is enrolled in KDP Select, it might be a good time to reconsider its list price.

It depends on two things. First, will Kindle Unlimited customers favor higher-priced books? Second, how popular will Kindle Unlimited be? Time will tell.

If sales ranks of lower-priced books slip over the next two weeks, this will become food for thought.

The other side of the coin is that KDP Select borrows pay the same regardless of the list price. Books priced $3.99 and up would earn higher royalties for sales than the KDP Select borrows have historically paid (about $2 per borrow). But if their inclusion in KDP Select generates additional sales because of the perceived value, it may well be worth enrolling those books in KDP Select.

It remains to be seen how popular Kindle Unlimited will become and how much (and what kind of) impact it will have. But authors need to decide which side of the fence to stand on, and how to best plan their marketing strategies around the introduction of Kindle Unlimited, and so authors must make many decisions, such as whether or not to enroll in KDP Select and whether or not to change the list price. These decisions won’t be easy, but they may have a significant impact on a book’s sales in the coming months.

Chris McMullen

Copyright © 2014 Chris McMullen, Author of A Detailed Guide to Self-Publishing with Amazon and Other Online Booksellers

  • Volume 1 on formatting and publishing
  • Volume 2 on marketability and marketing

Follow me at WordPress, find my author page on Facebook, or connect with me through Twitter.

Comments

Click here to jump to the comments section:

https://chrismcmullen.wordpress.com/2014/07/21/will-5-99-be-the-new-free/#comments