Thursday, 12 January 2012
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E-Books - 5 Top Questions - A Short Intro to Digital Media for Authors Who Haven't Got an idea
I'm a fairly techie person. I'm on the computer so much, sometimes I think it could be more practical to have a microprocessor implanted straight into my brain so I wouldn't need to spend time at my desk all the time. But although I'm pretty expert with the Internet, social networking, WordPress, web pages, etc., there are two areas by which I am a bit of a late bloomer. The first is mobile technology (I'll be talking more about that inside a later article). I only experienced my first "smart" phone (a Blackberry) under Six months ago. And while Sometimes with authors ALL the time, the 2nd area to which I'm admittedly a late bloomer is the realm of digital format books -- eBooks.
Actually, both of these things (mobile technology and gifs books) are extremely, greatly related, and when we authors do not have a clue about the subject, and just how they interact, we're quite likely to miss on half (or even more) in our potential book sales. Actually, many of my clients and colleagues have been enjoying #1 bestseller status in eBook rankings much more quickly compared to paperback (particularly in the united states, where eBooks appear to have caught on faster than here in Europe...but we're catching up fast).
I did previously think an e-book was just a PDF file which was kind of a duplicate of the print book. And up until not too long ago, that was true. Then, along came the Kindle, and a whole new market exposed. But THEN, "smart" mobile technology, for example iPhones, iPads and thus many other formats entered to the scene. It is a confusing quagmire of technology, and it is Super easy to get overwhelmed with the options.
And so i thought I'd write a VERY basic introduction to a few of the practical considerations for eBook creation and distribution for authors who're self-publishing.
Question 1:
Do you need to bother publishing your book within an e-mail for those who have a print edition?
Answer:
Yes!!! Amazon actually sells MORE Kindle eBook sales than it sells print books! Are you able to believe I did not even own a Kindle until a few months ago? That which was I thinking? Besides high sales volume, the truth is you can charge less and make must more in royalties with an eBook than the usual paperback book.And lastly, eBooks don't have to be as long as print book to ensure they are salable. I have bought some excellent eBooks that couldn't happen to be more than 30,000 words, but were worth it I paid for them.
Question 2:
What eBook formats are there? Which format must i use?
Answer:
There are many formats, however the two you need to be worried about the majority are Kindle (a bespoke format from Amazon) and also the ePub format, which is often used by ipad along with other companies.
Kindle may be the big leader in eBook sales (having been around for nearly 5 years now), but ipad is doing currently nearly one fourth of eBook sales finally count. Also, the ePub format is compatible with a number of other mobile devices besides the ipad. You need to use BOTH formats, in addition to PDF.
Question 3:
Where do I have to visit setup accounts for an eBook?
Answer:
My suggestion is by using THREE: Amazon (for Kindle), Lightning Source AND Smashwords for other electronic formats. All of them distribute to totally different channels (the only overlap I've discovered between LS and Smashword Kobo).
For Kindle, go to the Kindle Direct site and obtain started. Make sure to read almost all their guidelines before submitting anything. It's not necessary to come with an ISBN, however i think it's a good idea to possess one.
For Lightning Source, visit their home page and download their list of "CoreSource" Fulfilment partners (there are probably about 60 of these, including MBS Books, Lulu, CyberRead, The Book Depository, Kobo and many more. They deliver eBooks in Adobe Acrobat ebook Reader, Microsoft Reader, and Palm eBook formats. You may need a new ISBN for the eBook version.
Should you go to the Smashwords website, you'll see their distribution partners on their own webpage as Apple iBookstore, Barnes & Noble, Sony Reader Store, Kobo and also the Diesel eBook Store. Again, you don't need an ISBN, however i think it is a lot better to make use of your own, because it associates your book with YOU like a publisher, and not with Smashwords.
Question 4:
How do I get my book into digital format for Kindle and ePub? Do I just upload my PDF of my print book?
Answer:
Nope. Each company has their very own formatting guidelines and it is Vitally important you follow them. If formatting isn't your "thing" someone will help you ready your book for digital format. Smashwords will even send you a list of suggested formatters, who're all quite affordable.
The Kindle Direct website is a bit confusing (I think it's because their gradually updating their information), but if you hunt around it enough, you'll also find a of suggested places where you can get your book formatted for Kindle. The main one I have been using is called "LiberWriter" (LOVE the name!) at http://liberwriter.com/. You can look at them out free of charge, and then if you wish to use their services, it's $25 to make use of their do-it-yourself conversion, and $50 to have them format and convert for you personally. They also actually react to personally to customer support requests (always a plus).
Question 5:
When it comes to money. How do I price my book, and what kind of royalties will I receive per sale?
Answer:
The short answer to how you can price your book is at LEAST 50% Under your print version. So, in case your print book sells for $15.95, then price your eBook around $7.95 or less. If, however, you use this book more or less as a promotional tool (instead of a proper "book"), consider selling for as little as $0.99.
Regarding royalties, it goes like this:
Smashwords
Wholesale compensation = 60% of retail (when in love with sites apart from their own)
Example: in case your eBook is selling for $7.95, the writer would get $4.77.
Whenever your eBook comes ON the Smashwords site, you get 85%. In other words, if your eBook is selling for $7.95, the writer would get $6.76.
Lightning Source
LS take 7.5% taken from net (in other words, the author gets 92.5% of net sales). Net is calculated if you take the list price and subtracting the discount you are giving the distributor. For example, if your eBook is selling for $7.95 and wholesale discount is 50%, net world be $3.98, and also the author would get $3.68. Of course, you can set your discount at a reduced rate wholesale discount in order to achieve a higher profit (example: at 30% discount, you would receive $5.14).
Kindle
You will get as high as a 70% royalty rate from Kindle, minus "delivery" costs. Deliver costs are in accordance with your quality. On Amazon.com, the delivery cost is $0.15/mb. So, in case your eBook that is selling for $7.95 is 5mb in size, your royalty could be: $7.95 X 0.70 = $5.57 - (5 X $0.15) = $4.82.
NOTE: to be eligible for a a 70% royalty your Kindle list price should be between $0.99 and $9.99. If it's higher or lower, you are limited to 35%. That means that you'll actually make More income selling your Kindle at $9.99 than you would should you be selling it at $18.99, and you could possibly sell a lot more Kindle versions of the book should you price it as being low as is reasonable. For instance, I make no more than $5.00 per print copy of my book that sells at $24.95, however i make almost $7.00 on my small Kindle sales that are priced $9.99.
ALSO: The 70% royalty is NOT valid in most countries. If you choose 70% as well as your Kindle sells to a person who does not live in one of the participating countries, you'll receive 35% for all those sales. It's valid in countries for example US, UK, Canada, Germany, Italy, France, Belgium, Switzerland, and many more. The 70% royalty is NOT valid (as of this writing) for sales designed to residents from the Netherlands, Norway, Sweden, Denmark, Australia, New Zealand and many other countries. See Kindle Direct for that latest report on sales territories that entitled to the 70% royalty.
Please note, these prices and calculations are correct at this moment, and may have changed since that time.
The key idea with eBooks is to buy your book OUT in as numerous formats, as well as in as many distribution channels you are able to. Ensure that links to where people can buy these items is very visible and easy to locate on your website.
I hope this short introduction has given a bit more details about the practical why, where and how of eBooks. There is lots more to speak about, especially steps to make probably the most of your eBook format and the way to sell it off. But, we'll save that for another day.
I'd very much welcome to hear about your own experiences, so please LEAVE A COMMENT BELOW or drop us a line via my website contact page to let me know what you have learned on your own eBook adventures.
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