From author Steven Konkoly:
I want to take a few moments to explore a critical strategy for navigating the new Indie publishing landscape. Diversification.
There’s little doubt that the e-book landscape has changed. From the weakening impact of popular promotional services (if you can even get selected for one of the major services) to a softening of the traditional Indie pricing advantage, most Indies (big and small) have reported a decline in e-book sales and revenue. The launch of Kindle Unlimited remains a key suspect in 2nd half 2014 declines, ironically affecting authors that had taken steps to shield their book portfolios from Amazon by taking their books out of Kindle Select.
. . . .
As I sit down to create my 2015 business goals, I look back at 2014, and wonder how I can replicate the year’s sales numbers? Financially, 2014 represented my best year as a writer, and it had little to do with ebooks. That’s not exactly true. It had less to do with ebooks, and more to do with treating the novels as fully exploitable property. It also had to do with seeking completely different opportunities, some of which represented a bit of a risk.
Before I talk strategies, here’s a brief recap of the basic numbers, which you might find surprising. I certainly did:
Ebook unit sales were down 28.7% in 2014, over 2013—With the addition of 4 relatively successful titles!
Income across all sources was up 51% in 2014 from 2013.
. . . .
I raised the prices of all of my titles, and saw an immediate impact on revenue without a drop in units. I had always hovered in the $3.99 range, with $4.99 the going price for a new release. I bumped that up a dollar in each category. Nothing earth shattering, but it made a difference. I don’t know if these prices will be sustainable in 2015, with the advent of subscription reader services and lower priced “big name” offerings.
. . . .
Audiobooks saved 2014. I sold nearly 9,000 audiobooks in 2014, most of them in the post-apocalyptic genre, and most of them through pay-per-production deals through ACX. I can’t understate the importance of analyzing your genre and seeing if audiobooks are profitable. My thriller audiobooks (Black Flagged Series) are on a 14 month investment recuperation schedule. I can live with that. My goal is to create viable, long-term income streams. However, my post-apocalyptic (PA) audiobooks earn out within a month, sometimes less than that. Another strong argument for sticking with the post-apocalyptic genre. I won’t hesitate to produce all of my books in 2015.
Link to the rest at Steven Konkoly and thanks to J.A. for the tip.
Here’s a link to Steven Konkoly’s books