I was reading Joanna Penn’s Author 2.0 Blueprint the other day and she noted, “If you’re self-publishing, most of us make the vast chunk of our income from ebooks, because there are no restrictions on sales and readers don’t even have to know who published the book.” (BTW, you can get this book for free from her web site and it’s a great resource.)
This statement in the book struck me because it’s far from my own experience. I get about 45% of my income from my books and about 5% from my ebooks. I certainly wouldn’t mind it being the other way around if my current book level made up the 5%.
With a $7.99 ebook, I earn a $5.42 royalty for each sale. For $2.99 ebooks, I earn $2.04 and for $0.99 ebooks, I earn $0.35. That a pretty high percentage (35% to 68%).
By contrast, for a $19.95 paperback, I earn between $5 and $15 after subtracting the book production costs. That means I’m earning between 25% and 75% in net profit for each book.
So per book, I make more for each print book than I do for each ebook. Ebooks tend to be less expensive, though, but you need an e-reader to read them. I still run into plenty of people who tell me that they don’t have an e-reader or that they like the feel of a book in their hands. To be honest, I also meet people who look at my books and ask if they are available on Kindle, Nook, or Kobo.
I still need physical books to sell when I do festivals or presentations. People are there ready to buy and are looking for them.
My book sales have been growing nicely over the past couple years, but the e-books haven’t kept up. It certainly seems like it would be a more efficient use of my time if I was selling a couple thousand ebooks a month.
I think Penn’s statement just shows how much better my marketing needs to become. It’s all right, but it needs to be better. It can be better.
So what are your experiences? Do ebooks or physical books sell better for you? What are your best marketing techniques?