January 31, 2020
New Year, New Sales Plan.
For the past 6 years my goal has been to sell as many eBooks/books as possible. In order to accomplish that feat, I’ve had to sell my eBooks at the low, cut-rate price of $0.99 (which unfortunately seems to be the only price a large number of my readers are willing to pay for one of my eBooks)
That plan worked wonderfully when it came to volume of sales (every year I sold more books than the previous year} unfortunately it was not good from a financial standpoint, as every year I lost a substantial amount of money. In other words, I sold more books and I lost more money. Duh!
At the sale price of $0.99 per book, I never came close to recouping the cost of advertising, editing or purchasing a quality cover for my books. The royalty returns at that price guarantee that I will lose money at the end of each year.
After several years of getting kicked in the head doing the same thing and expecting different results, I finally decided to change strategy.
This year I plan to spend less on advertising and sell my books at a price somewhere between $1.99 -$2.99. This will most likely result in a lot fewer sales. I expect sell about one tenth of the books I sold last year, but it will keep my losses to a minimum, which is all I can expect until more readers discover how great my books really are. LOL!
Anyway, it sounds like a really big compromise, but if this is how it has to be, then ‘so be it’. This my friends is the glamorous, high rolling life of your average Indie Writer.
PS – Look folks, my plan is working already!
On January 2019 I sold 31 books at $0.99 and lost lots of money.
On January 2020 I sold 13 books at $1.99 and lost a little less money. Woo! Hoo! 🙂
‘Mad’ Indie Writer
“The only difference between me and a madman is that I’m not mad.” – Salvador Dali