Monday, December 17, 2012
Two weeks ago, I wrote about why I was giving away my latest novel as part of Amazon’s KDP Select program. Now that the offer is complete and I’ve had a week to see some results, I thought I’d share how it went and whether I think it was worthwhile.
To recap the advantages of Select, once you give ninety days of exclusivity to Amazon, your Kindle ebook can be borrowed by members of Amazon Prime as part of the Kindle Online Lending Library. Amazon has paid around $2.25 per borrow in the past, but they recently announced that, for the months of December to February, they have added a $1.5 million bonus to the normal pool of money allocated for borrows. Depending on how many additional authors enroll in KDP Select, it means the amount per borrow could go up substantially during this period (Amazon won’t report the figure for December until 2013; they always tell authors after the month is over).
The other advantage of Select is the ability to give away your book for free for up to five of those ninety days. The days don’t have to be sequential, and you can opt to use only a portion of them or none at all. For my book, The Roswell Conspiracy, I originally chose three days, December 5-7.
To promote the giveaway, I let all my fans know on Facebook and Twitter and asked them to share the information with their friends and followers. I also filled out forms on two dozen blogs that promote free books. Five of those sites ended up promoting the book during some part of the giveaway. Blogs that I didn’t solicit also picked my book to promote.
Thanks to those mentions, the free downloads did so well that I decided to extend the giveaway for the full five days in a row. The Roswell Conspiracy had risen into the free top 100 on the Kindle store, so I wanted to continue the momentum. The giveaway ended on December 9 at a number nine free overall ranking in the Kindle store, with 25,343 downloads.
I think that’s a pretty sizeable number of downloads, although it’s impossible to tell how many of those downloaders will end up actually reading the book. When I set out on this experiment, I expected the benefit to be primarily in the long term, with reviews trickling in during the coming months. I also hoped that those who read The Roswell Conspiracy would like it enough to buy my other books.
What I didn’t expect was the short-term boost. As I anticipated, the sales ranking dropped substantially from what it was before the free giveaway since I had sold zero copies on the days it was free. Despite the drop in ranking, I started to see noticeably stronger borrows and sales immediately. My theory is that Amazon’s algorithms had linked my book with all the other books that people had downloaded during that time, so that it appeared in a large number of “Customers who bought this item also bought” scrollbars. The Roswell Conspiracy was therefore seen on many more pages within the Amazon bookstore. Even though the book was no longer free, the important thing was that people could see it existed.
Because of these sales and borrows, the book’s ranking started to go up quickly (borrows seem to be accounted for in the Amazon ranking, though no one knows the secret formula). Before the giveaway, my sales ranking was hovering around 12,000. Within three days, The Roswell Conspiracy got up to the 600 range. It’s now been a week since the giveaway ended, and as I write this the ranking is 1105.
My conclusion already is that the giveaway was worth it. I’ve had enough borrows to completely make up for the income I expected to lose on Nook, iBooks, and Kobo over the next three months combined (remember Select’s exclusivity requirement). And the sales alone have already equaled my earnings from Kindle in the entire month of November. In addition, the number of reviews has increased by 50% in the last week over what the book had received in the previous four months, and they’ve been overwhelmingly positive.
I don’t know if this boon will continue. One downside of using up all my free days at once is that I can’t use that as a tool to juice sales during the rest of the exclusive period. If you’re thinking about enrolling in Select, remember that one anecdote doesn’t equal data. I can’t say how well this program will work for others, but I’d love to hear in the comments about positive or negative experiences from people who’ve done it before. I can tell you that I’m happy I tried it.