Like most other people I’m now shut into my house, but I’m lucky as I can fully function whilst working my day job from my home. Other than being perched on the end of the dining room table, it pretty much means that the only change is getting an extra hour in the day because I don’t have to travel into work! However it’s early days and we’ll have to see how the family deals with being locked in together 24/7.
Work In Progress
I’m currently working on the second draft of AFTER THE END, which is proceeding as planned. I’ve also completed the first phase review of LESSON LEARNED after it came back from copy-edit. I’m now doing a complete read-through to catch any outstanding issues and to do a first proofing pass.
At this stage I would normally start the formatting process, sending the manuscript off to Amazon to be produced as a proof copy, however when I submitted the book the automated systems told me I would have to wait until mid-May to get the copy. This is all because they are prioritising essential supplies, so I’ve cancelled the order and I’ll be printing it over on my home printer instead.
I’m on course for a Jun 2020 release date for LESSON LEARNED with work starting on the technical aspects of the cover.
SALES / ADVERTISING AND MARKETING
Not much to report this week other than my ads are still working well and I’m on track to make 50% over and above my advertising cost. I will have another week or so to run on this campaign before I look at refreshing it.
I have a whole heap of advertising and special offers to coincide with opening pre-orders for LESSON LEARNED. I will be able to start the pre-order once my last read-through is completed.
Dirty Money Talk
I’m not sure I mentioned last week what with all of the turmoil in the world, but as of December 2020, the UK Government will no longer charge VAT (20% of the retail price) on ebooks. As publishers set the retail price for their books, this will result in an increase in revenue for the author. Most authors I talk to will not be changing their retails costs as the books are already so cheap.
For BEFORE THE END I will be looking at a revenue of £2 per sale instead of £1.70, based on a UK price of £2.99.
In another move, this time short term, from April and for three months, Audible will be increasing audiobook royalties by 5%. As I am exclusive to Audible it will be about 50p per audiobook (if people use credits). This is a measure meant to support authors during the current crisis. Well done Amazon!
I also found out something interesting. Authors of audiobooks actually get paid royalties when a listener redeems one of the author’s free promo codes. I never knew this. I always saw them as precious as they can get reviews and didn’t realise they had an actual value attached to them. I will now offer more codes out to people, where as before I was always weary as it was like you were giving up a free sale. Come April (when the royalty payment is increased) I will be pushing them hard! Let me know if you’re interested in a free audiobook!
If prospective audiobook creators are getting excited, don’t. Audible are stopping this mechanism for future audiobooks, but it won’t effect those already on sale. There are a few other changes coming too which you can check out here. https://audible-acx.custhelp.com
I think I’m done for this week’s post. Let me know your comment and questions as always. Stay safe!