Designing Wonderland Cafe, Part 8 (Driving Questions…)
February 12, 2017
The Alice in Wonderland Wedding Planner is here! New Ideas for Rosy Nuptials
January 15, 2019
Publishing on Kindle: A Step-by-Step Guide to Using the KDP Interface, part 4
December 10, 2014
In the final installment of "publishing on Kindle," I'm going to go over the basics for pricing your Kindle book. However, I'm not going to be making recommendations for what you should price your book. This is a very individual process and many factors are involved, including a little bit of experimentation and lucky.
Royalties for Your Kindle Book
Because those are not measurable (or sometimes even repeatable), I'm just going to walk you through the menu and show you where to find the information you need. I have found Amazon to be very good about answering emails about any issues that I've had with my books, and the company also provides a detailed side menu on the royalties page. This part of the tutorial is just to show you what it looks like. Before you upload any book for sale, you'll want to read this page thoroughly.
At the top of the menu in KDP, you'll see some tabs. The first one says "Your book." The second one says "Rights & Pricing." After you have upload your book (as shown in the previous three blog posts), you'll save the page and go onto this second page.
Because I know very little about how each of the individual territories works in terms of royalties, I opted for the "worldwide rights" option. It seems that Amazon works out a lot of the details for you. Although I'm certain this will make more sense in time, I went with that. Again, this is an individual thing based on your own research.
That said, one of the features that I will talk about with Amazon is the KDP Pricing Support feature. It's this yellow button.
That takes you to this screen. I pulled up the information for one of my cookbooks. Although the screen shot doesn't show this right now, I opted for the $3.99 price, partly because Amazon suggested it, but partly because I know that I'm going to do a free run of the book here in about a week. Readers will see that they're basically saving themselves $4.00. In terms of buyer psychology, I thought I'd try this price point out for that reason.
You don't have to take Amazon's suggestions for prices, but I did want to show you this menu so that you could see it.
Once you're back at the main menu, you'll see this screen. This is where you enter the price of your ebook. Under $2.99 earns you a 30 percent royalty on sales. Above $2.99 earns you 70 percent. As you can see, if you click on each box, Amazon will help you set the price for each individual country. Again, you can play around with this, but because I'm still new on Amazon, I went with the automatic option.
Kindle Lending/ Kindle MatchBook
There are just two more options below this: Kindle MatchBook and Kindle Lending. The latter functions as an online library of sorts. People can borrow your book instead of buy it. I also went with this option, because you do get some money if the person borrowing the book reads at least 10 percent of the book, you'll get the royalty. In the future I'll not do this. However, since my biggest goal right now is to get people to read the book to build word-of-mouth, I'm allowing for this. It'll show up on your KDP sales page as "KU/KOLL."
MatchBook is a concept that many online publishers are doing. Basically, if you decide to do this program, you're letting buyers who have already purchased the print version of your book to buy the MatchBook at a reduced rate. Sometimes, the book is free, depending on the price of the book. I also chose this option for the same reason as above. I want to build a readership and encourage people to promote my books.
Once you make these decisions, it's time to hit the yellow button and send your book in for processing and approval. If the book is solely yours, meaning that you're not republishing a public domain work or are part of a collection of writers, this process takes just a day or so. Amazon will alert you when your book is for sale once it's ready, and when they do, you can start promoting it.
That's it for "Publishing on Kindle." The only final words that I have about self-publishing is to remember it's a process. This is very basic stuff, but can be overwhelming to some people. Just learn a little every day about how Amazon works. Bite-size chunks make this learning curve more manageable.
Here are the links to all the posts in this series: