So, you dream of becoming an independent (Indie) author, writing books and getting rich? I hope it happens for you, but don't count on it. I wanted to write this blog as a companion to my post about marketing. As with that blog, this is only my perspective. I don't speak for the Indie writing community. There will be many Indie authors who are far more successful than me and there will be those who are not as successful. We can't compare ourselves to each other because it's never an apples-to-apples comparison.
Some Indie authors have multiple books for sale. Some write in different genres. Some have more money up front to start with and more resources for marketing. What I will present is my current situation, so you may get a glimpse into this world.
I published Relentless Blades on October 21, 2024. As I type this, I have sold 131 copies and have 3,110 KDP Page reads.
Here is the breakdown:
Ebook: 84
Paperback: 30
Hardcover: 17
Here are the prices and Royalties I make for each:
Ebook: $.99/$2.99/4.99 (I've had the ebook at three price points so far) Royalties: $105 (includes KDP page reads)
Paperback: $16.99 and $19.99 (2 price points) Royalties: $59.13
Hardback: $20.99 and $24.99 (2 price points) Royalties: $47.40
Net Royalties: $212
Now, let's look at costs:
I did a BookBongo, Awesome Gang and Robin Reads promotion (1 each) and spent $100 total.
I have tried Amazon ads and spent $194
So, just on advertising and marketing I spent $294.
Between Royalties and what I spent I'm in the hole by -$82
But we must now factor in my upfront costs, the three biggest things being: Hiring a Developmental Editor, Hiring a Copy Editor/Proofreader and my cover design, among a few other things: $2,000.
Of course, this does not factor in my time spent actually researching/writing/editing the book. At this stage, almost four months in, I'm at a deficit of -$2,082 with 131 books sold.
One last thing to consider, social media marketing. I'm talking about posting to the various social media sites like X, Bluesky, Instagram, TikTok, etc. I have not included any cost for those, but there is absolutely a cost in your own time to conduct your promoting and marketing. Trust me, my sales would be about half if I didn't do social media outreach.
What does all this mean? Well, it means you're in it for the LONG haul. There is no making a lot of money in the short term, particularly when you only have one published book. You've got to get several books published and continue to build your brand until you can start getting some organic sales (the kind that comes without you plugging it on social media constantly or paying for ads). Once you get several books out there and have a following, sales will increase (hopefully). I say that because I'm not there yet.
What do I want to tell other indie authors? I've seen some post that they have been harassed online by people saying they charge too much for their books. Hogwash! Send them to this blog.
You know how much I make on a $24.99 hardcover? About $4.00
You know how much I make on the $4.99 ebook? About $3.50.
When my ebook was on sale for $.99 (when I made a good chunk of sales) I made $.35 per book. :(
How many activities can you pay $4.99 for and get hours of entertainment outside of buying a book? Not many.
So, anyway, don't feel bad about how much you charge. Between all the blood, sweat, tears and hours spent writing/editing/marketing/advertising, it's fair for you to make $4-$6 a book.
Oh, and one last thing. When those dirty marketers come spamming your door, send them to this when you tell them you don't have any money to pay them. LOL!
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