:What’s going on you guys? In this video, I want to talk about the prosand cons of publishing on Amazon because if you’re watching this video, I’m guessing thatyou’re thinking about publishing on Amazon and self-publishing on Amazon, but you’rereally not sure if it’s going to be worth it in terms of the money and income that you’regoing to get back.
So I’m going to dive into all of that.
And the reason I’m able to talk about thisis I’ve been building fiction brands on Amazon for the past five years now.
I’ve seen a huge evolution in the online publishingspace.
I’ve seen the good, the bad, and the ugly.
So I’m in a really great position to be ableto help you guys and answer your questions when it comes to the pros and cons of thisindustry and of the self-publishing industry using the Amazon platform.
Speaker 1:So if you are interested in all my publishing and you want to hear more from me, be sureto subscribe and ring the bell and be sure to leave me a like, if this video does helpyou.
Besides that, I have opened up space in mycalendar for free one-on-one strategy calls.
If you are serious about online publishingand you do want to get into the industry, I can definitely help you do that and helpyou build a brand that’s going to be successful and sustainable into the future.
So you can find out how to book that callwith me at the end of this video.
Besides that, let’s just dive right into it.
Speaker 1:So I’m going to start out with the price and probably the most obvious positive of self-publishingis that it’s really, really accessible.
You can publish your book for free on Amazonand get it live within 48 hours.
And if you don’t want to, you don’t even haveto write the book to yourself.
So it’s a really great accessible businessfor anyone from college students to someone with a lot of money.
Anyone can get into this industry.
Speaker 1:The next and probably one of my favorite positives of this industry is that there’s just reallyhigh margins.
I always keep my margins at least above 50%and the reason for that is, I get a 70% royalty on every book style.
As long as I price my books to $99 and above, then I’m getting a 70% royalty.
Amazon pays me 70% of every sale they makeand that’s an exchange for Amazon doing all the heavy lifting and that’s another positiveis that you don’t have to get your books printed or buy any inventory up front like you wouldin Amazon FBA or another business like that.
When someone buys the paperback version ofyour book, Amazon will just print it on demand and send it out to the customer.
Speaker 1:You don’t have to deal with any customer service or anything like that.
Amazon handles everything from distributionto customer service to creating the website and the page for you.
The sales page is created for you by Amazonand people trust Amazon with their credit cards.
So it’s an amazing platform to be able toleverage.
And that leads me into the next positive ofpublishing on Amazon, which is that you’ve got a warm audience on Amazon who are searchingfor the books that you are trying to sell them.
If you were to try to sell your books exclusivelyFacebook ads, for example, in your own website, people aren’t on Facebook to buy books.
Whereas when people are searching in the AmazonKindle store and looking for books, then they’re a warm audience ready to buy and you’re therewaiting for them, ready to leverage Amazon’s millions and millions of customers and millionsof customers who are also in the KDP select program where they pay money every month tobe able to borrow books from Amazon.
Speaker 1:And if they borrow one of your books and love it, you’re going to have a customer for life, a customer that you would have never been able to find on your own.
You found them because of the Amazon platform.
So that customer accessibility combined withthe KDP select program.
And just in case you don’t know what the KDPselect program is, that’s where people will pay 10 bucks a month to borrow as many booksas they want to from Amazon and you paid for every page that they read of your books.
So it’s really great because someone doesn’thave to fully commit to buying your books.
They can just borrow it, try it out, and asI promote, you want to put out high quality books.
And if you do that, then they’re going tolove your book, they’re going to keep reading and you’re paid for every single page thatthey read.
Speaker 1:So all in all, Amazon really is an amazing opportunity, but there are some drawbackswhich I want to discuss now.
So the first drawback of publishing on Amazon, and this would happen with any third-party platform that you choose to publish on, isthat when someone buys your book directly from Amazon, it’s Amazon’s customer.
It’s not really your customer unless thatcustomer makes an effort to go ahead and search you, find more of your books or perhaps optsinto your mailing list.
So I would suggest that when you’re publishingon Amazon, you always have a link to your free book.
You always want to give away a free shortstory with all of the fiction books that you publish.
And what this means is, you can give awaythat short story in exchange for the customer’s email address.
Speaker 1:And this is how you build your email list in publishing is, you use a free short storythat you give away and someone has to enter their email address in order to get that freeshort story.
So that can be used both to build your emaillist, which you can do on a website called bookfunnel.
com, where you can actually buildyour email list for free.
You give away your free book by joining promotionson the website for free, which is amazing.
And people join and they wind up on your emaillist and you can grow your email list to thousands of readers every single month.
But when it comes to the people who are directlyon Amazon, you need to find a way to get them onto your list because that’s the only wayyou can guarantee that you can keep marketing to them.
Speaker 1:So I would always recommend that when you’re publishing your books on Amazon, you do havea very clear sign up link to get your free short story at the start and the end of thebook to really encourage readers to opt in so that you can keep marketing to them becausethe lifetime value of a customer if you can get someone on your email list and investedin your series, then people will just keep buying from you over and over.
Think about the Marvel series for example, think about how much people spend on movie tickets, even though effectively, they’reseeing the same thing over and over.
Speaker 1:It’s a story about a superhero.
And yet people always want to hear what happensnext and that’s effectively what you’re doing with your mailing list, you’re creating afan base around your books, so that you can constantly promote new movies or new booksto them and they always want to hear what happens next, what’s happening with the newcharacters that you’re publishing about.
So it’s a really great opportunity as longas you know how to leverage the platform and you’re not just letting Amazon keep all ofyour customers for themselves.
Speaker 1:Another drawback to publishing on Amazon is the factor of market saturation.
So like I spoke about before, publishing onAmazon is a really accessible thing to do.
It’s absolutely free.
But the bottom line is, the market has beenflooded with millions and millions and millions of books.
So it is hard to rank organically for yourbooks.
You can’t really do that anymore.
So that’s why I stress the importance of puttingout high quality books that people really want to read.
So when they do read them, they want to readeverything else that you put out.
And also the importance of building a brand.
And what I mean by brand is really your emaillist and your Facebook group, so that you’re nurturing a relationship with buyers and customersthat are going to keep paying you into the future.
Because that means that no matter what happenson Amazon, you’re always going to have an excellent source of income because you havethe customers in your hand rather than Amazon being in full control of your business.
Speaker 1:That’s also the reason that I’ve heavily got into audio books this year because audio booksdo have a higher barrier to entry.
So whereas on Amazon, someone can write abook and publish a bit completely for free, with audio books, you do have to pay for narration.
And because of the higher barrier to entry, I believe that’s the reason why a lot of people, they’re not really seeing the value in audio, even though it’s a massive, insanely massive market with billions of dollars a year andgrowing like crazy.
And there’s exceptionally low competition.
And the reason I think there’s no competitionis people aren’t investing in the narration for their books.
They’re not willing to spend a few hundreddollars getting a book narrated because they don’t realize the value of doing that.
Speaker 1:So I’d really suggest that if you’re going to publish on Amazon, you would also put upthe audio book versions of your books because your content will be paid for trust me, withthe incentives that Audible put in place and that’s not to mention the fact that there’sinsanely high demand and insanely low competition.
So you’re going to be getting organic saleson your books and you’re going to be getting more and more sales as the platform growswhen there’s exceptionally low competition.
So there are so many incentives right nowthat make it possible to build a brand with Audible and be paid to build a brand.
Speaker 1:So that’s another point of entry to find new customers that can also buy your eBooks andyour ebook customers can also buy your audio books.
So it’s a really great opportunity to leveragethe exceptionally low competition on Audible and also the fact that Audible effectivelypaying you to create content for that platform at this point.
Speaker 1:Final drawback to publishing on Amazon is the fact that you have to wait two monthsto get paid, which I’ll admit can suck.
There’s been points where I have felt likeI’ve had cashflow issues in the very beginning when I was paying for content to be made.
I only had a few thousand dollars to get startedand I had to wait that two months to get paid the first time.
But once you’re over that initial hurdle, then you’re okay because you’re getting paid every single month.
But that initial, when you’re starting out, that two months can hurt.
But that’s actually another reason that Iwould really suggest that you get into audio because ACX, the Audible publishing platformactually pays you every 30 days.
So you can be paid every two months by AmazonKDP and then you can be paid every 30 days by Audible.
Speaker 1:So that rounds up my pros and cons of publishing on Amazon.
And I really hope that helped you out andgave you a really accurate understanding of the industry and where it’s at and how youcan overcome some of the negatives and just enjoy all of the positives of publishing onAmazon.
So I should probably tell you how you canbook that free strategy call with me if you are interested, just hit the second link inthe description and you can book a call with me Monday to Saturday and we can talk aboutpublishing, building your brand, and enhancing your brand with audio and strengthening it.
And it doesn’t matter if you’re brand newor advanced.
I’m sure I can help you.
So just fill in the short questionnaire andlet me know your situation and then I’ll get back to you and we can talk.
So besides that, I really hope this videohelped you out.
Please subscribe and ring the bell and likethis video if it helped you and I will see you soon.