WWC2014 Day 1: Successful self-publishing with Jodi MacIsaac

Jodi MacIsaacAbout Jodi MacIsaac:

She grew up in New Brunswick, Canada. After stints as a short-track speed skater, a speechwriter, and fundraising and marketing executive in the non-profit sector, she started a boutique copywriting agency and began writing novels in the wee hours of the morning. She currently lives with her husband and two feisty daughters in Calgary, Alberta.

Find out about her books.


 

 

The current state of the publishing industry is both fascinating and depressing.

The first thing you should do is research. Victoria Strauss’s Writer Beware is a great resource. You’ll be kept aware of all the scams and less-than-reputable publishing services.

The debate about traditional publishing vs. self-publishing is polarized and getting more so every day. The big self-publishing success stories are flukes and outriders, but it is possible to make a living publishing your novels independently.

Indie or self-published books make up:

  • 31% of daily ebook sales;
  • 40% of ebook royalties (greater than Big 5 authors’ ebook royalties);
  • 30% of ebook revenue.

Most self-published books sell fewer than 200 copies.

You have to be professional, patient, and treat your self-publishing as a business—because it is.

Regarding patience, Hugh Howey’s Wool was his eighth book.

Backlist sales are important, but in order to have backlist sales, you have to have a backlist.

You have to be talented, hard working, and obsessive.

If that’s you, self-publishing may be for you.

The pros:

  • 70% royalties;
  • Complete control; and
  • Greater speed to market.

The cons:

  • Little/no bookstore presence;
  • No advance;
  • Up front costs; and
  • No support.

Questions to ask yourself:

  1. Do you enjoy learning?
  2. Are you proactive?
  3. Can you multi-task?
  4. Are you entrepreneurial?
  5. Are you willing to develop a business and marketing plan?
  6. Can you organize and work with a team?
  7. Are you willing to work HARD?

Writing is an art. Publishing is a business.

Roles of the self-publisher:

  • Author;
  • Editor;
  • Copyeditor;
  • Proofreader;
  • Cover designer;
  • Layout and formatting;
  • Scheduling;
  • Marketing;
  • Public relations;
  • Webmaster;
  • Distribution; and
  • Bookkeeper.

These roles can be farmed out, but you have to be able to afford to pay other people to fill them. If you don’t have a lot of money, this may be a problem.

If nothing else, you need to pay for the “big three.”

  1. Editing—substantive, copyediting, and line editing. Yes, you may have to pay three people, or one person three times.
  2. Cover design.
  3. Formatting.

Costs:

  • Substantive edit               $2,000 to $10,000
  • Copyediting                      $1,000 to $5,000
  • Proofreading                    $500 to $1,000
  • Cover design                    $150 to $3,500
  • Formatting                        $100 to $500
  • ISBN                                 Free in Canada/$125 in the US
  • Net Galley                         $399
  • Audiobook narrator           $1200 (or royalty share)
  • Marketing                          $100 to $5,000 (or ??? more)
  • Website                            $100 (hosting and domain registration)

Where to sell

Digital

  • Amazon
  • KDP (Kindle Direct Publishing, Amazon’s exclusive ebook service.)
  • Barnes & Noble
  • Kobo
  • iBookstore
  • Smashwords (distribution to everyone but Amazon until you reach $5,000 in sales)
  • Draft 2 Digital, Bookbaby, etc.

Publish on demand (POD)

  • Lightning Source
  • CreateSpace
  • Lulu
  • Trafford
  • iUniverse
  • Xlibris
  • Author Solutions

Check Writer Beware and Editors & Preditors before you commit. I’ve listed all services here for thoroughness.

Pricing

  • $2.99-$9.99         author receives 70% of every unit sold.
  • Under $2.99        author receives 35% of every unit sold.
  • Over $9.99          author receives 35% of every unit sold.

The best way to sell backlist is to write more books.

Aim for 80% writing/20% business.

Q: What is metadata?

Metadata is data about data. Keywords, categories, etc. You have to be strategic.

Q: What are your best marketing and communications strategies?

Reviews are the number one way to generate sales and word of mouth.

FaceBook ads, in my experience, don’t translate to sales.

Giveaways on Goodreads are a good tactic, especially if you ask for an honest review.

Blog tours are not worth it. It’s a lot of work to generate content for all the blogs, and there’s no evidence that anyone will be encouraged to buy.


Next week: Jacqueline Guest on Preparing the Perfect Pitch Package.