Thursday, 6 September 2012

3 Tips For Making More Money With Kindle

We all want to ensure that we maximize the amount of money that we make with our Kindle sales. Writing or having a book written takes either time or money and we do not want to squander either. Here are three tips that you can use to make more money with the Kindle books that you publish.

Experiment with Pricing

Pricing on Kindle is a complex issue and in order to make sure that you are maximizing your sales revenue you need to experiment. It is difficult to say exactly how you should price your books because one pricing model will work in one genre but be wrong for another. 

One approach is to go for the maximum amount of sales and price your book at 99 cents. This is an approach that was advocated by Kindle novelist John Locke in his book How I Sold 1 Million eBooks in 5 Months. It should not be assumed that this is always the best approach however. Firstly at the 99 cent price point you only receive 35% of the sales price whereas above this price point you receive 70%. This means that you need to make significantly more sales at the 99 cent price point for this to work in your favour. 

Also price is not only a matter of supply and demand but also a signal of quality. All else being equal we assume something is of higher quality if it is higher priced. If you were to go into a department store and there were three blenders for sale it is natural to assume that the cheapest is of the lowest quality and the most expensive is the highest quality. With kindle books they will sometimes sell better if you price them higher. This may seem strange but it is usually due to this signalling of quality that the higher price gives.

Create a List

Amazon buyers as a demographic tend to be wealthier, better educated and higher income earners than the general population. This means that they are often excellent prospects. The great thing about using Kindle is a list building tool is that you are actually getting paid to build your list. I would not advise placing affiliate links within the book itself as my interpretation is that this is against the terms of service. Whether you agree with this interpretation or not having sales links inside your book will almost certainly result in some negative reviews as Amazon readers are sometimes sensitive to being sold too. 

It is far better to move them out of the Kindle book and via a landing page onto your email newsletter. You can then provide more information on the topic as well as promoting other products that might interest them. To do this simply add a short call to action at the end of the book such as offering a free report and a link to your landing page.

Use Your Book to Become an Authority

One of the best ways to use your Kindle book is to become an authority in your niche. People respect published authors and even if you don’t generate a huge amount of sales with your Kindle book its credibility building aspect can easily make up for this. For example if you offer graphic designs services you could publish a kindle book website graphic design. You will then be able to include in your homepage and about page that you are a published author.

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