I'm celebrating this week because I've sold my 1,000th copy of my book! Wow. It's amazing to think that a thousand people have purchased something that I wrote. I'm both humbled and extremely excited.
For those of you who are wondering how long it took me, here's a quick recap of my sales by month. I uploaded my book on April 20th, 2010.
April - 7
May - 151
June - 456
July - 176
August - 106
September (so far) - 143
As you can see, the bulk of my sales came from June. I attribute this to being featured on some great blogs, and my book was still priced at $1.99. I priced it low for the first three months, which allowed me to gain momentum and get some reviews under my belt. Sales fell dramatically in July when I raised my price to $2.99.
Now, do I feel like I made a mistake raising my price? Maybe. However, I did make a little more money in July than I did in June. Why? Because Amazon raised their royalty rates to 70% in July for all Kindle books priced between $2.99 and $9.99. Before, at $1.99 I was making 35% royalties. ($.70 per sale) Starting in July when I raised my price to $2.99 I began making 70% royalties for all sales in the US. ($2.04 per sale) That's a huge jump in royalties.
August, however, was a very slow sales month for me. I'll never know if I had kept my lower price, if I would have kept my sales momentum. In the end, I am happy with how well it's been selling. I'm very excited for my next book, The Overtaking, which will probably be ready for the Kindle around the end of the year. I do think the secret to success on the Kindle is having a loss leader, so I plan on making The Overtaking mine. I'll price it at 99 cents, at least for the first three months, in hopes that it will sell like crazy and draw some attention to my higher priced book.
I'll let you know how it goes!
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