Budget Tracker & Self-Pub Tips

[AliceBaine]

Hey everyone,

After what felt like way too much time spent editing, I'm finally approaching the publishing/marketing stage with my first book. I've done lots of casual research over the years, but I was wondering if anyone has any go-to books/blogs/etc in regards to self-publishing.

I'm also looking for advice on budget tracking. Any preferred software or techniques you use to make sure you don't sink yourself in a hole?


Any advice is greatly appreciated. Thanks in advance!

 

[Prince of Spires]

I like Paper Tiger:

Not the biggest channel, but she's a great source of information, and she knows a lot of other channels where you can find specific information. Others that can be useful are The Self Publishing Show (by channel Self Publishing Formula), and 6 Figure Authors podcast.

As for software, few things beat good old Excel, in terms of use and cost. Techniques: common sense is the most useful one. There are 2 things at ods with publishing:
- The first is that you get what you pay for. As in, if you buy a cover that you pay $50 for, then you can realistically expect someone to spend 1 or 2 hours on it. For $500 you might get 10-20 hours of work. Now, one may not sell 10 times as good as the other, so determining the value of each is difficult. Just keep in mind that the time people spend on things costs money.
- The other is that each $ you put in is one you need to earn back if you want to make money. You can expect between 35ct and $3.50 per sale (give or take a bit). At the top end, that means you need to sell something like 15 copies for the $50 cover and 150 for the $500 one. Now, the $500 cover might sell those 150 copies more easily than the $50 selling the 15, but it's something to keep in mind.

Other than that, learn about the difference between publishing exclusively through Amazon (via Kindle Unlimited) or publishing Wide, as in everywhere, including Amazon (except for KU). Both have pros and cons. Learn what they are and pick one.

 

[pmmg]

I just use a simple spread sheet. There is not much for me so far to track, but...I am competent with spread sheets.

There are a lot of vids on the authortube for it. I dont recall which were the most useful, and its hard to look them up at work. But here is one.

Just type publishing costs and you will get a bunch. There are four or five that I find the most worth watching. Bethany Atazadeh is one of them.

 

[ThinkerX]

Reviews help. My best success in getting reviews has been with the various Goodreads Review Groups. Basically, there are ten people per group. You read and review four books by the other participants selected by the Mod. In my case, I reviewed a self-help book, a poetry book, a mystical tale of childhood trauma, and a fantasy novel. Four other people read and review your books.

As to marketing...there are literally dozens of book promotion sites out there that will take your money - Fussy Librarian, Book Doggy, Bargain Booksy, Awesome Gang, and... the list goes on. I had little success with any of them. My recommendation is either avoid them altogether or to go for the dirt-cheap deals - usually twelve or fifteen bucks. My attitude was I've blown more than that on a so-so lunch, so it was money I could afford to lose.

Now...IF you have several reviews, and IF your book has a strong romance component, and IF you can knock the price down to free or 99 cents, you might try one of the silver packages with 'Books Butterfly' - but that is an upper double digit cost. One promo I ran through them sold most of two dozen copies...but two others flopped.

'Book Bub' is supposed to yield good results - but it comes with a triple digit price tag, and you really need positive reviews.

I also had some initial success with Facebook Ads... then that mostly went away. Has to do with their targeting. These days, I get some success with ordinary 'unboosted' posts to FB book groups.

If you go that route Kindle Direct whatever will do part of the marketing for you (I didn't). Otherwise, look into Amazon Ads, and pay attention to the targeting.

Overall...barring amazing good fortune...you are unlikely to be selling many books.

 

[Ned Marcus]

As to marketing...there are literally dozens of book promotion sites out there that will take your money - Fussy Librarian, Book Doggy, Bargain Booksy, Awesome Gang, and... the list goes on. I had little success with any of them. My recommendation is either avoid them altogether or to go for the dirt-cheap deals - usually twelve or fifteen bucks. My attitude was I've blown more than that on a so-so lunch, so it was money I could afford to lose.

I normally lose money on these, but I don't mind some of the very cheap ones like eReaderIQ, which only costs $10. It helps me get some extra sales, so I don't lose a full $10.