By Mark Coker, Smashwords
Smashwords authors and publishers can now create and distribute audiobooks.
This opportunity is enabled by our new partnership with Findaway Voices, a leading independent producer and distributor of audiobooks.
Our partnership gives authors and publishers greater control over audiobook pricing, rights, and distribution, and all without exclusivity or lockups.
Visit https://smashwords.com/audiobook to get started today.
Overview of the Audiobook Market
Audiobooks are the fastest growing segment of the book industry. Sales for 2017 were up about 20% over the prior year.
Audiobooks are exciting because they free up more hours in the day for consumers to enjoy books. Unlike printed words on paper or screens which require the reader’s undivided attention, audiobooks can be enjoyed while the listener performs other tasks, such as driving their car, cooking a meal or taking a walk.
How Audiobook Production Works
Starting today, you’ll notice audiobook creation prompts integrated into multiple stages of the Smashwords publishing workflow.
To turn your current ebooks into audiobooks, visit your Smashwords Dashboard and click “Create Audiobooks”.
Once you review and acknowledge the program details, you can instantly deliver your chosen ebook(s) and metadata into the Findaway Voices platform with a single click, at which point you’ll choose a password for your Findaway Voices account.
The first step in the audiobook production process is selecting a professional narrator.
You’ll answer a short questionnaire at Findaway Voices about your audiobook’s desired emotional tone; the accent, dialect or gender preference for the narrator; the voice style; the heat level of the book; and information about the book’s main characters.
The Findaway Voices casting team will then use this information to recommend a curated list of between six and ten professional voice actors for your consideration.
Recommendations will include audio samples and hourly rates for each narrator. From this list, authors can request audition samples where narrators submit sample readings of the author’s book.
There is no cost or obligation during the audition process.
Production begins after you select your narrator and sign off on the production contract. You will pay production fees directly to Findaway Voices.
To assist with your budgeting, here are some rough guidelines on cost: Each hour of recorded content comprises roughly 9,000 words, which means a 26,000-word novella might run about three hours and a 100,000-word book would run about 11 hours. Narrators typically charge between $150 and $400 per finished hour.
Global Audiobook Distribution
When production completes, you will control all rights to your audiobook. You’ll also have the option to distribute your audiobook to Findaway Voices’ global network of over 20 sales outlets including Apple iTunes, Audible, Scribd, Kobo, OverDrive and Google Play.
If you already have professionally produced audiobooks for some or all of your titles, you can still visit https://smashwords.com/audiobook to transmit each title’s metadata to Findaway Voices, and then afterward you’ll upload the audiobook files to Findaway Voices for distribution.
No Exclusivity or Lockups
There’s no exclusivity or lockup period. You have full control over your choice of distribution outlets.
You can remove your book from Findaway Voices’ distribution network at any time, and you can sell your audiobook anywhere you please.
You set the price. The various outlets operate under different sales models (single-copy sales, subscription listens, pay-per-use, etc.), which means the calculation for royalty rates will differ from one channel to the next.
Visit https://smashwords.com/audiobook to get started today!
By Mark Coker, Smashwords
The new 2018 edition of the Smashwords Book Marketing Guide is now available.
Click to your favorite retailer to download it now for free:
Barnes & Noble
You’ll learn 65 book marketing ideas ideas to make your book more discoverable and desirable to readers. Even if you’ve already implemented some of these ideas, I provide fresh context to make your implementation of these ideas even more effective.
You’ll learn how to:
Spend more time writing and less time on marketing
Build your author brand
Drive greater reader word of mouth
Make your book market itself though autopilot marketing
Use preorders to improve marketing efficiency and reader lock-in so your new book is already marketing your next book
Leverage blogs to market your books
Market your ebooks to libraries
Run creative, reader-pleasing promotions with Smashwords Coupons
Earn mainstream media coverage
Partner with fellow authors on over 10 collaborative marketing opportunities
And there’s so much more.
The Guide features a new introduction, dozens of new and updated marketing tips, and a new “Deep Dives” section that covers social media strategy for authors, how to work with beta readers, and how to earn free press coverage.
This is my first update since 2013. The previous edition was 16,000 words. This new expanded edition is 40,000 words. I think the continued popularity of the older edition speaks to my unique approach to book marketing. I emphasize evergreen book marketing strategies that will work for many years to come.
As readers of this blog may know, before I published this new edition of the Smashwords Book Marketing Guide I first serialized it in audio form on my SMART AUTHOR podcast. I completed that serialization on January 26 and released the ebook on January 31.
Here’s Episode 10 to give you a taste of what this new 2018 edition offers.
By Amazon Kindle Direct Publishing
We are excited to announce that proof and author copies are now available for all publishers on KDP.
Proofs allow you to review a physical copy of your draft paperback prior to publication. Learn more here.
Author copies are copies of the live version of your paperback that you can order from Amazon. Learn more here.
When you order copies of your own book, you pay just the printing costs plus shipping and applicable taxes. With this new feature, KDP proof and author copies for the UK and the rest of Europe are printed and shipped from within Europe – an improvement for authors who previously used CreateSpace.
By publishing a paperback on KDP, you can reach more readers through Amazon websites in the US and Europe, as well as manage your print and eBook publishing from one website. In addition, you can use the KDP website in English, Spanish, German, French, Italian, Portuguese or Dutch. Learn more here.
2018 Tax Filing Season
Have questions about taxes? We’ve created several resources, including Help content and videos:
• Tax requirements
• Tax forms
• Tax interview
To see all our tax-related resources, visit our Help page.
KDP authors anchor Susan G. Komen/Kindle Unlimited Promotion
Amazon is partnering with Susan G. Komen to donate $5 for every eligible consumer who signs up for a 30-day free trial of Kindle Unlimited through the end of February. Susan G. Komen’s mission is to save lives by meeting the most critical needs in our communities and investing in breakthrough research to prevent and cure breast cancer.
The theme of the promotion is “Everybody has a story.” Komen will highlight videos via their website from three KDP authors whose lives were impacted by breast cancer and encourage consumers to sign up for a Kindle Unlimited trial to gain access to their books and all titles in Kindle Unlimited.
Learn more about the campaign and how you can support Komen and your fellow KDP authors here.
Pen to Publish Contest Winners
We have announced Sudha Nair and J. Alchem as the winners of the inaugural KDP Pen to Publish Contest in India. The winners will each receive a cash prize of $15,000 and a print publishing contract with Westland Publications. They also have the opportunity to be mentored by India’s best-selling authors like Chetan Bhagat. Watch their inspirational journeys for yourself by clicking on their names above.
Make your book look great with Kindle Create
Kindle Create is a tool designed to automatically transform a completed manuscript into a beautiful Kindle eBook by:
– Automatically finding chapter titles and creating a Kindle table of contents
– Giving you visual themes designed to suit the genre of your eBook
– Letting you preview your eBook so you can see what your readers will see—and make the changes you want
Kindle Create works with .doc and .docx files exported from any source, whether it be Microsoft Word, Apple Pages, Google Docs or other applications. It also supports creation of interactive textbooks from PDFs.
Looking for manuscript feedback? Submit to Kindle Scout!
Kindle Scout has decided to extend the offer of personalized editorial feedback for all shortlisted manuscripts until the end of February 2018.
Kindle Scout is a reader-powered publishing program where, in 45 days or less, your book may be considered for a publishing contract with Kindle Press.
You can also participate as a reader in Kindle Scout and support your fellow authors. As a Scout, you get to preview new, never-before-published books; nominate your favorites, and enjoy free eBooks when your nominated titles are published. The next great story is in your hands!
To learn more, visit the Kindle Scout website: https://kindlescout.amazon.com/about
By Mark Coker, Smashwords
Have you ever read a news story or watched a TV interview and thought, “They should have interviewed me for this story!” ?
If so, you’re in for a treat with episode 15 of the Smart Author podcast. This is part six in my six-part audio serialization of the new forthcoming 2018 edition of the Smashwords Book Marketing Guide.
In this final installment of this marketing series, I teach authors how to earn free press coverage. Press coverage can dramatically elevate the stature of your author brand and drive more readers to your books. I also teach you how and when to write a press release, and how best to promote that press release to the media.
This episode draws heavily on my former life in public relations. I first fell into public relations back in the late ’80s while I was still in college (here’s the full story). Later, in 1992, I joined one of the largest Silicon Valley PR firms, and then in late 1993 I left it to found my own PR agency which I ran up until the launch of Smashwords in 2008.
I’ve always had enormous respect for the power of PR. PR practitioners use their skills to influence media coverage. The prospect of self-interested parties influencing the media to influence what people know, think and believe is at once exciting and terrifying.
It’s exciting when good PR helps elevate the stature of good people, good products and important stories. It’s terrifying when PR is used to misrepresent facts, as we see all too often nowadays in the business and political spheres. The dark side of PR touches our lives every day. Back when tobacco companies spent millions of dollars to convince consumers that smoking was safe, that was dark PR. Or in more modern times when large petrochemical companies like Koch Industries fund puppets to sow doubt about climate change, that’s an example of dark PR. Or when Russian-backed trolls create fake news to sow division in Democratic countries and mislead voters, that’s another example of dark PR.
In this episode, I teach you how to use PR as a force for good, and that good is to help elevate the stature of your author brand. You’ll learn tips for ethical PR based on facts and honesty. You’ll learn how to leverage your smarts and expertise to help journalists help their readers with your knowledge and news.
It was quite a challenge for me to condense three decades of PR experience into 49 minutes, but I trust this information-packed episode will give you actionable ideas you can incorporate into your book marketing.
Over in the show notes for this episode, you’ll find a full written transcript and a mockup of how a good press release should be structured.
By Mark Coker
Today in part five of my six-part marketing series, I take a look at social media strategies for Twitter, Facebook and LinkedIn.
Social media is a mixed bag for many authors. We at once appreciate its power and potential while at the same time curse it for taking time away from writing.
We appreciate its potential to help authors forge closer relationships with readers yet at the same time we curse it for fostering tribalism, echo-chamber thinking, fake news and trolling.
In short, social media brings out the best in people but also the worst.
If you’ve been active on social media for the last decade, then much of what I share you’ll already know. But if you’re feeling alienated or unfulfilled by social media, or are starting to question how best to use it without sucking your soul dry, then I think the social media strategies I share will inspire you to forge a healthier relationship with the three most popular social media platforms.
Some of the topics I discuss include:
Seven tips for social media success
The four types of Twitter users, and how most of us are (and should be) a blend of multiple types
My personal Twitter strategy, and why no one strategy is right for every author
Not sure how to conduct yourself on Twitter? Hear my eight Twitter etiquette tips
Facebook: how the most powerful social media platform holds your followers hostage
How authentic should you be on Facebook?
The struggle to balance authenticity with the potential for alienation
How LinkedIn can work for non-fiction authors
How every author can use LinkedIn to further their professional development
Four tips for getting the most out of LinkedIn
If you’d like to connect with me on any of these platforms, here are my direct links:
Coming up next on Smart Author, I wrap up my six-part audio serialization of the 2018 edition of the Smashword Book Marketing Guide with episode 15. You’ll learn how to earn free press coverage to build your author brand and generate more demand for your books.
If you’re just now discovering my six-part marketing series, I suggest you start with part one which was episode 10.
By Mark Coker, Smashwords
1. TWO NEW EPISODES OF SMART AUTHOR PODCAST: BOOK PROMOTION AND SOCIAL MEDIA
Two new episodes have been released of the Smart Author Podcast, all part of Mark Coker’s advance serialization of the forthcoming 2018 edition of the Smashwords Book Marketing Guide.
Here’s a quick summary:
Episode 13 – Book promotion Learn 25 ebook promotion tips. The tips are grouped in logical order to roughly correspond to the different stages of a book’s marketing, from pre-launch to launch to post-launch. These tips can be implemented in any order at any stage of an author’s publishing journey. This is part four of Mark Coker’s six-part serialization of the Smashwords Book Marketing Guide. (Read more at the Smashwords blog)
Episode 14 – Social media strategies for authors – Mark shares social media strategies for Twitter, Facebook and LinkedIn to help you forge a healthier, more productive relationship with these popular social media platforms. This is part five in Mark’s six-part marketing series. (Read more at the Smashwords blog)
Listen and subscribe now at Apple Podcasts or visit the Smart Author home page for a complete list of multiple listening options, including the ability to listen now over your web browser.
2. SECURITY UPDATE – CONTROLLING YOUR ACCOUNT’S LOGIN CREDENTIALS
On January 9 we alerted Smashwords authors and publishers via this Smashwords Author/Publisher Alert that the security team at Smashwords had detected multiple attempts by cybercriminals to log in to Smashwords author accounts using stolen email/password combinations.
We mentioned how two Smashwords authors were victimized, and how, working with PayPal we were able to recover one of the author’s lost earnings.
We’re pleased to report that the other affected author has also now been made whole. Thank you PayPal!
As we mentioned in the last email, Smashwords was not hacked. We shared this notification with authors out of an abundance of caution because we care about your security. We want you to know the simple steps you can take not only to protect your account access at Smashwords, but to protect yourself everywhere.
If you’re using the same password at Smashwords that you’ve been using elsewhere, you should update your Smashwords password today.
If you didn’t update your password following our last notification, here’s how to do it now:
Visit the Smashwords site, click “Sign Out” at the bottom of the page
Click “Sign In” at the top of the page
Rather than entering your email address and password, click the “Forgot Your Password?” link
Enter your email address (firstname.lastname@example.org) into the form
We’ll send you an email with a link you can click to select a new, more secure password
We’ve also taken three additional steps to protect our authors, publishers, and other users:
On January 8, we added a new feature at Smashwords that will automatically notify you whenever your password is changed (either manually via your Account page, or by the password reset feature described above).
On January 16, we added a new feature at Smashwords that will automatically notify you whenever any changes are made to your payment settings page. We send you an email to your main email address, as well as to your your prior PayPal email address and your new PayPal email address (when applicable). In this way, you’ll be alerted to any unauthorized access to your payment settings!
On January 19, we updated the Smashwords Terms of Service to remind all current and future Smashwords authors and publishers about their responsibility to use a unique and secure password at Smashwords. It includes the same security best practices tips we shared with you in our January 9 alert.
We’ve posted another short note at Smashwords Site Updates about these changes.
3. HELPFUL RESOURCES
How to publish and distribute ebooks with Smashwords
Frequently asked questions
Smashwords Site Updates
Smashwords blog (subscribe today via the email option!)
How to Publish ebooks (4-part presentation)
Smart Author Podcast
Smashwords Video Workshops
Create or update your Smashwords Interview (self-interviews)
Smashwords Series Manager (Manage series metadata)
Smashwords Coupon Manager (Create custom coupon codes)
Connect with fellow Smashwords readers and authors at Facebook
Mark’s List – Low cost cover designers and ebook formatters
Thank you for publishing and distributing with Smashwords.
The Smashwords Team
By Mark Coker, Smashwords
Today in Episode 13 of the Smart Author podcast, I present part four in my six-part series on book marketing.
In this episode, I share 25 book promotion tips.
The tips are presented in logical order to roughly correspond to the different stages of a book’s marketing – from pre-launch to launch to post-launch, but most can be implemented in any order at any stage of an author’s publishing journey.
Some of the topics covered include:
How you can use preorders to keep loyal readers on your train
How to find and engage in specialized communities where your prospective readers are hanging out
How to leverage blogs to build your author brand and collaborate with fellow indie authors, plus how to organize a blog tour
How to use Smashwords Coupons to build readership, engage with readers and incentivize list-building
… and much more.
If you haven’t yet listened to my series on book marketing, I recommend you start with Episode 10 of the Smart Author podcast, which was part one in this series.
Next week’s episode will explore social media strategies for Twitter, Facebook and LinkedIn.
By Mark Coker, Smashwords
The majority of your readership will come from readers who stumbled across your book.
Maybe the reader was looking for a book like it. Or maybe they weren’t even looking for a book but found your book on their path to somewhere else.
Now imagine your book as a stationary beacon, buried deep in a forest of millions of other books. How can you equip your book to continually transmit its location and attributes so that those who might enjoy it are drawn to it, even if they’re not looking for it?
And then how do you ensure that once you draw a reader to your book, they leave your book a converted evangelist, ready to proselytize their passion for it to their fellow readers on the book discovery trail.
This is the idea behind autopilot marketing. In today’s new episode 12 of the Smart Author podcast, I present 17 tips that will help you put some the most important aspects of your book marketing on autopilot.
You’ll learn learn how to leverage your book to sell more books, grow your platform faster, and spend less time on marketing and more time on writing.
It’s part three in my six-part audio serialization of the new 2018 edition of the Smashwords Book Marketing Guide.
Give it a listen at any of the find podcast sources below.
Happy New Year!
By Mark Coker, Smashwords
Every structure and every enterprise requires a strong foundation upon which to build, grow and thrive. The foundation contains the DNA that predetermines much of an enterprise’s destiny.
The same holds true for an author’s marketing strategy. Without a solid foundation, an author’s marketing program lacks purpose and direction. It can become rudderless, ineffectual an inefficient.
Most authors launch their first book without giving their marketing foundation adequate consideration.
The good news is that it’s never too late to reinforce your foundation so you can build a marketing program that’s more purposeful, more organic, more effective and more efficient.
Today on episode 11 of the Smart Author podcast, you’ll learn 17 tips to bolster your marketing foundation and the stage to achieve your full potential.
You’ll learn actionable ideas to for author brand-building, knowledge-building, platform-building and distribution:
Brand-building – The author is the brand. Consumers buy brands they admire and trust. Learn how to improve your brand awareness and brand perception.
Knowledge-building – In the search for marketing advantage, many authors find themselves on a treadmill, always chasing the next ephemeral shiny object. Learn how to focus on what matters most – the evergreen best practices that will work just as well 10 years from now as they work today.
Platform-building – Platform is your ability to reach your target audience. Learn new ideas to grow your brand and reach more readers.
Distribution – Much of book discovery is serendipitous. If your book isn’t in the store, the reader goes home with a different author’s book.
This is part two of my six-part audio serialization of the new 2018 edition of the Smashwords Book Marketing Guide. The ebook for 2018 edition of the Smashwords Book Marketing Guide will release in late January upon the conclusion of this six-part audio serialization.
Subscribe to Smart Author today so you don’t miss a single episode.
Visit the Smart Author hub page for links to full transcripts of each episode.
By Mark Coker, Smashwords
Welcome to my annual Smashwords year in review for 2017 and preview of the year ahead.
I’d like to start first with a big shout out to Smashwords authors, publishers, business partners and industry friends for your trust and partnership.
And a big welcome to the thousands of authors, publishers and readers who joined the Smashwords community this year.
February 2018 will mark the 10-year anniversary of when we first announced Smashwords to the world and began private beta testing. May 2018 will mark the 10-year anniversary of when we opened our virtual doors for business.
These last 10 years have been nothing short of amazing, and it’s thanks to authors and publishers like you that we’re still here to serve you.
We ended our first year of Smashwords in 2008 with 140 books from 90 authors. Today, Smashwords carries over 470,000 titles and works with 135,000 authors and publishers around the world. We work with an awesome network of retail and library distribution partners who do amazing work behind the scenes to support Smashwords authors and publishers.
Let’s look at the business and service milestones for Smashwords this year and then I’ll share a preview of our plans for 2018.
Books published – We now publish 472,100 ebooks, up 8% from 437,200 at the end of last year.
Words published – We now publish 16.8 billion words, up 1.2 billion or 7.5% from 15.6 billion a year ago.
Authors/pen names served – We now publish 135,175 authors, up almost 8,000 or 6% from 127,500 authors a year ago.
Profitability – Despite the moribund sales of most retailers, we managed to eke out another profitable year this year. Our balance sheet is strong with cash and no debt which means we’re in a good position to ride out the industry slump as other players come and go.
Library ebooks show more growth – Library ebook sales continued to show modest growth, indicating that library sales are somewhat decoupled from weak retail sales. The library ebook market is still small and has room for more upside.
Kobo holding steady – Kobo has been holding its own these last four years as other retailers have struggled more. I think this speaks to their broad geographic footprint and strong line of e-reading devices that continue to earn solid reviews. From their founding, Kobo has always had more of an international focus than the other larger retailers. They’ve also got some additional measure of diversification in that they power the bookstores of other stores, and now they’re expanding into audiobooks.
Scribd shows growth – Back in 2015, Scribd did a big pivot by cutting most romance from their catalog. Romance readers were reading this subscription service out of house and home so Scribd had to pull back and regroup. As a result, Smashwords romance authors took a big hit in 2015 compared to the strong sales they experienced at Scribd in 2014. In 2016, however, we saw modest growth return at Scribd. I’m looking forward to seeing what they can do in 2018.
Sales up at Smashwords Store – Another bright spot was the Smashwords Store, which bucked the industry-wide trend to show year over year sales growth. I think the performance was boosted by a few factors: 1. Strong results for authors participating in our big two annual promotions for Read an Ebook Week and our July/Summer Winter Sale, and the addition of a new annual sale, our Smashwords End of Year Sale which ends January 1. 2. Our new Smashwords Special Deals feature (I’ll describe it below) a self-serve merchandising tool, made it easy for readers to find onsale books. 3. I think there’s a growing awareness that the Smashwords Store pays royalties up to 80% list, even on some 99-cent ebooks. For authors with strong platforms and the ability to direct readers to one store or another, it’s a profitable sale.
Monthly payments! – We launched monthy payments in early 2017. Previously we paid quarterly. We also eliminated the prior $10 threshold on PayPal payments. Even if we only owe you a penny, we’ll pay that penny!
Distribution to Bibliotheca cloudLibrary – In February we announced a distribution deal with Bibliotheca cloudLibrary (formerly 3M CloudLibrary), adding up to 3,000 additional libraries that can now purchase Smashwords titles.
Faster, more frequent deliveries to Barnes & Noble – In February, 2017 we announced that thanks to our friends at B&N, Smashwords now delivers books and updates 24X7 to their store. Previously, we delivered only once-daily Monday-Friday at their request. This means faster listings for your books. It’s worthwhile to contrast this with the very early days of ebooks back in 2009 when it could take retailers several weeks to list a book, or contrast with print publishing where it can take a publisher 12-18 months to get a book into stores.
2017 Smashwords Survey – Every year we produce this research report based on actual aggregate sales data sourced from across our retail and library distribution network. Every year when I’m producing it, I privately curse it and swear I never want to do another (it’s a lot of work to pull this together!!), but every year when the findings reveal themselves I’m amazed at the insights it brings. This year’s survey had two big bright spots from my perspective: 1. We found that $4.99 joined $2.99 and $3.99 as a pricing sweet spot that can maximize readership and earnings. My takeaway from that finding was that despite all the pressures for devaluation in the marketplace, authors with loyal readership have pricing power. 2. We knew from prior annual Surveys that books released as preorders sell more copies than those that are not, but this was the first Survey where we dug deeper and discovered how preorder books are vacuuming up the lion’s share of new book release sales each year.
Special Deals launched – In August we introduced Special Deals, a new self-serve automated merchandising feature at the Smashwords store. To join this ongoing home page promotion, simply create a coupon code in your Dashboard’s Coupon Manager and set the coupon to “public.”
Global pricing control – In September, we have our authors and publishers unprecedent control over pricing with the launch of our new Global Pricing Control feature. You can now set custom prices for 248 different countries and 152 local currencies. If you want to price at 3.99 Euro in Germany and 2.99 in Italy, you can do that with Global Pricing Control. It’s also a great tool for authors doing BookBub promotions who need to lock down different custom prices in different countries, or for authors who need to deal with Amazon’s unruly price-matching nastygram emails.
New categorization options for erotic works – In September, after many months of close collaboration with our largest retailers, we rolled out a new classification system for erotic works that allows authors and publishers to certify the presence, or lack thereof, of certain taboo themes. The feature allows us to give retailers and library partners greater control over what they receive from our authors and publishers. As I mentioned in the original announcement, the move was designed to enable greater trust and transparency about the themes contained in these books.
New ticketing system to support you better – This month we rolled out a new ticketing system to support your service inquiries. Every time you click the “?” icon at the top of any page at the Smashwords site and fill out that support form, it’ll generate a unique ticket which our team will track until your question is answered to your satisfaction. It’ll also let you provide us instant feedback about each interaction with our service team. Did we do great, or could we have done better? Our goal is service with a smile. We aim to answer your questions quickly, accurately and completely the first time around.
Smart Author podcast – In October I launched the Smart Author podcast. This has been my passion project for the last 18 months so it’s been a lot of fun (and incredible hard work – my hat goes off to my fellow podcasters who’ve been doing this much longer!) to produce and share this with the world. It’s like a free masterclass in ebook publishing best practices. Apple Podcasts placed it in to their coveted New & Noteable home page feature for a few weeks which gave it a big boost (thank you Apple Podcasts!), and the launch was also assisted by an amazing volunteer launch team of Smashwords authors. If you haven’t listened to it yet, you can check out the trailer right below or visit https://smashwords.com/podcast for links to the various podcast directories that carry it.
Smashwords Plans for 2018
We’ve got some exciting plans for 2018. In broad strokes, here’s what you can expect:
Home page redesign – The home page you see now at Smashwords will get a refresh as we work to make more books more accessible and discoverable to the readers who want to discover them!
New line of business – Smashwords will expand our footprint by entering a new adjacent market that I think will please our authors and retailers alike (how’s that for opaque and obfuscated?)
More book marketing tools – We’re working on a number of initiatives here that fall under the theme of helping you sell more books. Some of this will be high profile and visible, and some of it will be behind the scenes. I’ll keep this item broad and vague for now so we don’t tip our hand too much.
More continuous improvement – Every week at Smashwords our engineering team is launching new updates to the Smashwords platform. In addition to the high-profile new features we announce here at the blog or at Site Updates, there are many more smaller but equally important incremental enhancements. We’re never standing still.
New 2018 edition of the Smashwords Book Marketing Guide – I first published this back in 2008, and updated it several times over the years. The last major update was almost five years ago. I think its continuing popularity speaks to the fact that I focused on evergreen book marketing ideas. These aren’t flash-in-pan marketing tips that work today but won’t work tomorrow. The new edition is completely revised and restructured. The organization is more logical, making it easier for authors and publishers to leverage these ideas at every stage of their publishing journey. The new edition is scheduled for full release at the end of January. If you can’t wait another month, you can get it early via my exclusive advance audio serialization of the new edition on the Smart Author podcast (next item).
More from Smart Author – Unlike podcasts that go on for hundreds of episodes (and kudos to them for their achievement), I always intended Smart Author to have a finite number of core episodes focused on evergreen best practices. Right now I’m in the middle of doing an exclusive advance audio serialization of the new 2018 edition of the Smashwords Book Marketing Guide, and then after that I’ve got a few more episodes planned that should keep me busy through the end of February or March. After that, we’ll see. Tell me what you want next, because this podcast is for you.
Thank you again for your trust, partnership and support. Thanks also for distributing with Smashwords. When you distribute with Smashwords to the retailers and library platforms we serve, you’re directly supporting our ability to bring you exciting new tools and opportunities.
Don’t miss my 2018 publishing industry predictions, also out today!
2018 Book Industry Predictions: Are Indie Authors Losing their Independence?
Posted: 31 Dec 2017 03:27 PM PST
Welcome to my annual publishing predictions post where I prognosticate about the future and share my views on the state of the indie nation.
Each year around this time I polish off my imaginary crystal ball and ask it what the heck is going to happen next.
My crystal ball was a bit surly this year. The first thing it told me was, “you don’t want to know.” Less than helpful.
The second thing it told me was, “Re-reread your 2017 predictions. 2018 is going to play out as a continuation of last year.”
That’s a little more helpful. Most of my predictions for 2017 were pretty close.
When I think about the future, I start by looking at the past and then I look for patterns and trends.
What are the entrenched macro trends and forces that, like gravity, are likely to continue in the same direction for many years to come? And how will these trends impact what they touch, and how will that change the course of the future?
It’s a fun exercise, even when what I see doesn’t fit within the rim of rose-colored glasses.
By imagining possible outcomes, we can formulate strategies for the future, or we can take steps to prevent that future from happening.
Things are tough out there for most authors.
This is nothing new. Authorship has always been a tough business. Even before the rise of indie authorship, most traditionally published authors still had to maintain day jobs to make ends meet.
Indie Authors Assert Control
10 years ago, publishers controlled your fate. They decided which writers became published authors, and they rejected most who came knocking, pleading and begging at their door.
Publishers were the gatekeepers to the printing press, retail distribution and readers.
Now, thanks to the tools of indie authorship, you’ve wrestled your fate away from publishers. You decide how and when you publish your book. You can reach readers without a publisher.
As I’ve written here at the blog many times, once indies gained access to the tools of professional publishing, the power center in the industry shifted from publishers to authors. It seemed as if authors would finally control the fate of this industry. Yay!
The Rise of Indie Authorship
Amazon launched their ebook self-publishing platform in late 2007, a few months before we unveiled Smashwords in early 2008. Our two platforms made it fast, free and easy for writers to self publish and sell ebooks. We were at the right place at the right time.
Between 2008 and 2010, the ebook market grew exponentially as millions of readers transitioned their reading from paper to screens, and as retailers opened their virtual shelves to all indie ebooks.
Apple entered the market with its iBooks store in 2010, and brought with it the agency pricing model which let authors and publishers control their own prices and earn 70% of their list price for each copy sold. This was a radical approach to book pricing that put more power in the hands of authors. Yay!
Prior to agency pricing, authors and publishers would set a recommended list price, and earn 35-50% of that price. Retailers could discount the book however they liked.
With Apple’s entry, Amazon was forced to double the previous ebook royalty they paid authors from 35% to 70%. With the advent of agency, Amazon was forced to hand authors and publishers more control over pricing. Later that year, Smashwords was able to get other ebook retailers to give our authors agency terms as well. Yay!
2011 was another phenomenal year of ebook sales growth. Indies started hitting retailer and national bestseller lists with increased frequency, and with every year that passed indies were capturing more and more share of the ebook market. More yay!
Indie authors proved that it was possible to self-publish with pride, professionalism and commercial success.
Indies didn’t just imitate the best practices of traditional publishing, they started to innovate and invent the new best practices for ebook publishing. Publishers began looking to indies for inspiration.
The democratization of publishing was here and everyone was happy, right? Wrong.
It now appears that we’ve traded one gatekeeper for another. Boo.
The Beginning of the End of Indie Authorship?
When I look back at my predictions for 2017, most of those predictions came true or are still coming true.
And then I wondered, if we continue in this direction, where does it take the indie author movement?
I think it takes us to the end of the indie authorship as we imagine it.
It’s a dark future where writers can still self-publish, but one marketplace holds all the readers captive, and that marketplace’s business model is entirely dependent upon commoditizing everything it sells.
In this dystopian future, participants can still pat themselves on their backs and call themselves indie authors if it makes them feel good. After all, they’re still choosing to publish where they publish. But the emerging truth of the matter is that these indies have lost their independence because if they jump away from that dominant marketplace, there might be no there there to jump to.
It’s a future where the other ebook sellers have been decimated and have either gone out of business or become irrelevant. It’s a future where no other ebook retailer can build a profitable business.
Let’s Celebrate Dependence Day, December 8, 2011
No, that’s not a typo. Yes, I’m being a bit sarcastic.
When the history books of the indie author movement are written 20 years from now, historians may point to December 8, 2011 as the day that indie authors lost their independence.
Until that day, every retailer was welcoming self-published ebooks into their stores, gave authors control over their pricing, and paid up to 70% list.
It was also the day that Amazon, the world’s largest online bookseller, decided that these indie authors were becoming too powerful and too valuable to roam wild.
December 8, 2011 was the was the day Amazon launched KDP Select and began stripping indies of their independence.
The independence of indie authors wasn’t stolen from them. Instead, indies were coaxed, prodded, browbeaten, extorted and tricked to gradually surrender it.
It was a brilliant strategy in retrospect. Convince indie authors to hand over exclusive distribution rights to Amazon for short 3-month (auto-renewing) increments.
As I warned the day Amazon announced KDP Select (read it here), the scheme would slowly starve Amazon’s competitors of books and customers, and make authors more dependent upon a single retailer.
Then on July 14, 2014, Amazon introduced Kindle Unlimited which offered customers unlimited book reading from a catalog of titles sourced almost entirely from indie ebooks enrolled in KDP Select. A key feature of KU is that the author’s list price is irrelevant. You’re compensated less than one half penny per page read.
Today, over one million indie ebooks are exclusive to Amazon via KDP-Select and KU. Those books act like leeches to slowly drain other booksellers of their lifeblood.
Amazon aggressively promotes KU to its customers. It encourages them to read books for free with KU. Readers of indie ebooks now have over one million reasons to never purchase another single-copy ebook again. The day KU launched, I warned authors of the potential implications (read it here).
Authors who now derive 100% of their sales from Amazon are no longer indie authors. They’re dependent authors. I suppose we have indie authors and de-authors now.
Where to from Here?
You may feel at times like like you’re just one vote, or that you’re a victim of forces more powerful than you.
But your vote matters because just like in politics, the election for your future will be greatly contested by those who want to exert power over you.
The challenge here is that although you’re an integral participant within this grand indie author movement, there’s no collective organization. No representative body looks out for our interests. We’re all free agents. We’re divided and conquered.
There are great organizations, companies and writers organizations out there that advocate for authors, but none have the reach or power to harness collective action.
Every indie author is out there trying to make their way as they search for readers. From 50,000 feet, it looks like hundreds of thousands of cats moving in random directions searching for mice.
Someone figured out how to herd the cats.
A single mousetailer has corned the market for mice. All the cats run there.
But there aren’t enough mice for all the cats, so the mousetailer proclaims that only a select few can now have preferential hunting privileges. All you have to do is surrender your independence.
Can’t Indies say No to Dependence?
It’s not too late for self-published authors to reclaim their independence.
Authors could kill KDP Select tomorrow, along with its KU spawn, by simply refusing to participate. KU would collapse overnight (or within three months) if all the books disappeared.
The problem is that there’s always another author or publisher standing in line to replace the author who refuses to participate. Another author who’s willing to drop their pants lower for the chance to reach those captive readers. This plays into Amazon’s business model of forcing producers to offer ever-lower prices, and to earn an ever-lower percentage of those prices.
At this point, it’s clear that the publishing industry (I’m including everyone here – publishers, retailers, indies, myself and everyone else in the industry) has shown itself inept and incapable at organizing a cohesive, effective response to Amazon. Instead, the industry complains about Amazon’s dominance while continuing to surrender more independence to Amazon every day.
The industry in its desperation to reach readers has become it’s own worst enemy.
Now large publishers – the only ones who hold collective bargaining power of behalf of the world’s bestselling authors – tip toe around Amazon, fearful that if they look at Amazon cross-eyed their preorder buttons will disappear and their authors will blame the publisher for not keeping their books on Amazon’s virtual shelves.
Indies fear that if they don’t succumb to KDP Select exclusivity, they’ll reach fewer readers.
Odd how indies are repeating the same mistakes of publishers.
I don’t blame authors who participate in KDP-Select. I blame Amazon for putting authors in this position.
Although many indies are bravely staying wide on principle (hello Smashwords authors!), many more have thrown principle to the wind and stand ready to surrender more flesh and dignity if it allows them to step higher in visibility so they can continue to put food on their family’s table.
It’s a sad state of affairs when indies are forced to devote more creative energy toward pleasing Amazon’s corrupt algorithms than to pleasing readers.
Fair competition at Amazon does not exist.
The KU Scam
In 2017 there was an uproar in the indie community decrying all the scammers that were stealing money out of the KU pot. Lets be clear – the problem is real.
Scammers were manipulating Amazon’s algorithms and page-counting methods to artificially inflate the page reads, earnings and sales rank of certain books. That meant less money and less visibility for other KU participants.
What most of these indies failed to realize, however, was that KU itself is a scam. KU is an artificial construct designed to strip pricing power away from authors so Amazon can offer ever-lower prices to its customers. In the long run, it’s great for Amazon but not so great for authors.
KU steals visibility and sales opportunity from non-participating authors and hands it to participating authors. KU participants are trampling their fellow indies.
Imagine a giant’s thumb pressing down on a perfectly buoyant boat and slowly sinking it, as the passengers frantically step over one another to reach the last gasps of oxygen. Guess who plays the roles of giant and passenger?
It doesn’t have to be this way.
Time to Break Things Up?
Stepping back, this isn’t just an Amazon phenomena. It’s part of a larger problem and a larger trend where a few large tech company platforms (Google with search, Facebook with social media, Amazon with ecommerce) have amassed so much power that it’s become a matter of self-preservation for them to continue doing what they’re doing. In the process, they’re stifling innovation and preventing fair competition.
Prof. Scott Galloway of NYU has had some great insights into this problem of these too-powerful platforms. He’s been waging a lonely campaign in recent months calling for government intervention to break up these companies and restore fair competition.
He argues that government regulation is not the socialist thing to do – it’s the pro-competitive thing to do. By breaking these companies up and restoring fair competition, it would unleash a new wave of of innovation. See also his Ted talk.
Save us Margrethe Vestager
It’s time for government regulators to step in and restore fair competition. It’s time to break up Amazon.
Monopolies and monopsonies (of which Amazon arguably wears shades of both) are not illegal. What’s illegal is when a company wields its dominance to stifle fair competition.
Amazon as an ecommerce juggernaut has become so powerful that other companies can lose billions of dollars in market cap in a matter of minutes at the mere rumor Amazon might enter their business. Amazon has become so dominant across so many areas of commerce that investors are reluctant to invest in companies that may one day have to compete against Amazon.
Fair competition is broken.
Amazon practices predatory pricing by operating its business at break even. Amazon doesn’t need to make money in books, whereas your local bookstore or favorite non-Amazon ebook retailer can’t stay in business if all the profit in bookselling is flushed down Amazon’s toilet.
Bookstores can’t survive when Amazon can coerce its author and publisher suppliers to offer Amazon better prices, or worse, as we see in the indie ebook space with KU, put a gun to the head of authors and force them to deny other retailers the ability to sell their books.
It’s unlikely regulatory action will come any time soon from the United States. The US government is horribly broken at the moment. Even though Donald Trump is no fan of Jeff Bezos, regulation appears anathema to him and his base at the moment.
Regulatory action is more likely to come out of Europe, and specifically from this brave woman, Margrethe Vestager, the European Union’s competition commissioner.
I’m imagining the Margrethe Vestager’s face pasted on the head of Obi-wan Kenobi. Princess Leah is pleading, “Save us Margarethe Vestager, you’re our only hope.”
But the big question, especially for indie authors who depend on their book income to make ends meet, is whether reform will come in time before everyone is drowned in the boat Amazon is deliberately foundering.
It doesn’t need to be this way. No other retailer forces exclusivity. No other retailer punishes the author for refusing to go exclusive. No other retailer strips pricing control away from authors, or takes their rights for 3-month auto-renewing increments of time.
It’s unclear how pure-play bookstores can remain in business in an environment where the same consumers who scream bloody murder about bookstore closures forget their own complicity by browsing at their local bookstore before buying at Amazon.
Amazon’s not evil. They merely feed our insatiable gluttonous appetites for lower costs and greater consumption.
I could even argue that Amazon is the victim of its own success. Amazon’s business model got it here, and now they can’t turn back. The moment they start raising prices to earn a fair profit is the moment they lose their competitive edge. Or it’s the moment they invite anti-trust action.
In the meantime, these low prices come on the backs of Amazon’s suppliers.
Authors can’t outsource their writing to China or Mexico. The satirical April Fool’s dystopia I painted a couple years ago (see “Kindle Power Bucks”) about authors paying to be read at Amazon is becoming reality.
Will Authors to Take Back their Independence?
It’s not too late for authors to take back their independence, but time is running out.
Like I said above, indie authors have the power to kill KDP Select tomorrow simply by opting out.
But will they? Many of us in the indie movement have been warning about the long term implications of KDP Select since it first came out. Yet these warnings have fallen on deaf ears because readers are the oxygen of writers.
So while it’s possible for authors to reclaim their independence, it’s looking unlikely the community is willing to endure the pain necessary to extricate themselves from this situation. The retailer ecosystem that once worked so hard to support them is fading, dying a death of a thousand cuts.
This is why authors can’t have nice things.
The Silver Lining in this Dystopian Picture
Despite the dark picture I painted above, I remain optimistic about he future of indie publishing. I remain confident that one way or another, the stars will align for authors to rise up and take back their futures. It’s unlikely to be next year or the year after, but eventually the pain of this dependency will cause a backlash.
In the meantime, if my words above depress you, I want to leave you with this one other bit of optimism before we move on to the predictions.
Book publishing is a multi-billion dollar global business. The size of the market could drop 50% tomorrow and you’ll still have amazing opportunities to achieve all of your writerly dreams. These opportunities will still be 1,000 times greater than the opportunities you had prior to the rise of the indie author movement that took root in 2007 and 2008.
Every retailer except Amazon could abandon the ebook market and you’ll still have the opportunity to reach readers.
Readers aren’t going to stop reading books. Your book is unique. Although it’s possible to commoditize reading pleasure with KU, your book will always offer something compelling that readers will pay for, IF you demand to be paid for it.
If you value your publishing independence, fight for it.
2018 Publishing Predictions
I see sunshine and clouds for 2018. Let’s do the bad news first and then we’ll wrap with the good news.
1. 2017 will be another challenging year for the book industry – There’s no way to sugar coat it so I won’t. Book publishing is in a slow structural decline. Books are media. They’re a bundle of paper or a bundle a digital bits and bytes that carry stories and knowledge. They entertain, inform and inspire. Now think about the competition for books. The answer to that is basically, “all media.” Books are competing for consumers’ ever-fragmented attention against other media forms for entertainment, escapism and knowledge-building. These media forms include social media, cable television, streaming media services like Netflix or Spotify, video games, YouTube, podcasts, print magazines, and anything else that occupies our attention.
2. The glut of high-quality low-cost ebooks will get worse – In the old days of print publishing, the number of books in circulation was artificially constrained by the production output of traditional publishers, and by the shelf space available at brick and mortar retailers. Since ebook retailer shelf space is virtually unlimited, ebooks need never go out of print. This means that every day from this day forward, there will be more books occupying virtual shelves and competing for a readership whose attention is increasingly fragmented across multiple media forms.
3. Barnes & Noble is sick and will get sicker – I love Barnes & Noble. They’re our second-largest sales channel after Apple iBooks. But their ebook business is in trouble. It’s shrinking every year, and that shrinkage makes it difficult for them to give the business the investment it requires. The company is further distracted by activist shareholders that are agitating for the company’s sale. This will distract B&N from its main priority – it needs to refocus on becoming the best bookseller it can be.
4. Kobo’s sales will falter – Kobo, an internationally-focused mid-sized ebook retailer, has been one of the strongest performers in the ebook space over the last four years. While other retailers slipped and lost market share, Kobo was the little engine that could. They were also smart to get into the business of powering other retailer’s ebook stores, and partnering up with indie brick and mortar stores. Kobo has also had great success supporting indie authors, whose books now account for a sizable percentage of their store’s sales. Yet I don’t see how they’ll be able to keep their customers long term when they’re competing against a retailer that has over 1 million indie ebooks locked up and inaccessible to Kobo’s customers.
5. Devaluation pressures will persist – Publishing is on figurative fire but the industry doesn’t see the smoke yet. Large publishers look at Kindle Unlimited and think, “not a threat to me, those books are all dreck.” Yet Amazon’s success with KU is placing considerable devaluation pressure on ebooks. Publishers should read Clayton Cristiansen’s Innovators Dilemma. A lot of those books are dreck, but KU has such a large critical mass of titles it offers an incredible value for consumers. There will always be a truly unlimited collection of 5-star books for readers to choose from. You can bet KU subscribers are purchasing fewer traditionally published books as a result.
6. Single-copy ebook sales will decline – If readers can derive more hours of reading pleasure per dollar at KU than they can from buying single-copy ebooks, then single-copy ebook sales will decline not just at Amazon but at every ebook retailer.
7. Romance authors will feel the most pain from KU – Romance readers are the most amazing readers. These are the readers that read a book a day. These readers will migrate to the unlimited reading of subscription services, for which KU is the only significant provider as of today.
8. Large traditional publishers will reduce commitment to romance – I’m hearing from large publishers that they’re questioning their commitment to romance and are considering ceding that market to self-published authors. One told me, “There’s no way we can build a business selling $1.99 romance ebooks.” I think it would be a mistake for publishers to do this, because romance authors are typically the early-movers in terms of trend-setting. Indie authors dominate romance ebooks, but the indies of other genres are coming on strong. Are publishers going to abandon sci-fi, fantasy, horror, mysteries and thrillers too? The large publishers should embrace romance, not abandon it.
9. Email list fatigue – One of the most powerful platform-building tools for indie authors is the private mailing list. A lot of indie authors will see their email lists shrink this year as readers attempt to retake control of their inboxes.
10. Pressure will build to drop author royalties – Indie authors celebrate their ability to earn 70% list on their ebooks, but this royalty rate will become increasingly untenable as Amazon’s competitors fall by the wayside. Remember how it was Apple’s entry into the market that forced Amazon to raise royalties? With fewer viable retailers, Amazon’s now in the driver’s seat for author royalties. If they drop the payouts at KDP, other retailers will be forced to follow suit to keep their costs competitive.
2018 won’t be all doom and gloom. Let’s look at some bright spots.
11. Audiobooks will be a big story in 2017 – Audiobooks were the fastest growing segment of the book industry last year, and I think this will continue in 2017. Audiobooks make books accessible to more readers by opening up new hours of the day for book consumption. You can enjoy audiobooks while you’re doing other things, whereas reading text requires your full undivided attention.
12. Audible will face increased competition – At present, Amazon has a virtual monopoly on audiobooks though its Audible division. They’ve stripped authors and publishers of all pricing control and pay paltry royalty rates. I think 2018 will be the year authors and publishers begin to stand up and revolt. A key catalyst for this revolt could be Apple. Up until about a year ago, Apple was bound by an exclusive supplier arrangement to only sell audiobooks sourced by Audible. Now that that agreement is over, will Apple rise up and foster more competition? Even if Apple does nothing, other forces are organizing to take on Audible’s hegemony over audiobooks.
13. Readers will still pay for books worth reading – One of the big takeaways from this year’s Smashwords Survey was that we found our bestselling authors were able to increase prices without undermining unit sales. $4.99 has joined $2.99 and $3.99 as pricing sweet spots. This tells me that authors who build devoted followings have pricing power. Their readers will follow them and stick with them as they move up from ultra-low prices to prices that are still really low. $4.99 is a great deal for a great book! This also indicates that a lot of authors are probably selling themselves short by pricing too low, or by participating in a certain subscription service that only pays them 1/2 penny a page. Episdode 7 of my Smart Author podcast explores the 2017 Smashwords Survey.
14. New subscription services will be introduced – In 2017, Kobo made moves to launch its own ebook subscription service to compete against KU. Scribd has been doing subscriptions for a long time. At present, B&N and Apple don’t offer subscription services. I think new subscription services are inevitable as retailers counter the threat posed by KU. The advent of more subscription services represents a potentially slippery slope. At present, Scribd is the only provider with an author-friendly model where the author is paid a percentage of their list price. But as we saw back in 2015 when Scribd had to drop romance, over-consumption can break the subscription model if readers read too much. Amazon’s response to this challenge, as was Kobo’s response, was to pay authors out of a shared pool. In this way, the retailer could balance its subscription revenue against the expense of providing those books. I’ve never been a fan of such pool-based models because they strip pricing control away from the author and can contribute to devaluation. I’ll have my eyes open in 2018 for author-friendly subscription services that can pay authors more than they’re getting at Amazon but without the exclusivity restrictions.
15. Calls will grow in the US for antitrust action against Amazon – This was one of my long shot predictions from last year, and I’m bringing it back because I think it’s becoming a growing inevitability. The US government so far has shown no inclination to restore fair competition to publishing. In fact, their bone-headed decision a couple years ago to charge publishers and Apple with pricing collusion only played into Amazon’s hands. But now that Amazon is aggressively disrupting other industries, from grocery and consumer retail to healthcare and transportation, I’ve got to imagine that the CEOs of the largest most powerful publicly traded companies in the US are going to start directing their lobbyists in Washington, DC to put some controls on Amazon. If the European Union can make some progress bringing these powerful platforms to heel, it might give DC the backbone it needs.
16. Indies will reassert control over platform – Many indies have grown frustrated over the last few years at Facebook. After indies devoted significant time and money to build their followings at Facebook, Facebook pulled a bait and switch and started charging authors to reach their friends and followers. More indies will take steps in 2018 to form a closer, more direct relationships with their readers because as indies are learning, if someone else controls your access to readers, they can tax that access or take it away.
17. Indie authors will take a closer look at podcasting to reach new readers – My limited experience of doing about a dozen episodes of the Smart Author podcast has opened my eyes to the power of this medium. I’m seeing greater opportunities for indie authors to use podcasting, just as they’ll use audiobooks, to make their words more accessible to new audiences. If you visit Apple Podcasts and click to their Arts category, you’ll find examples of the potential for these two media forms to come together. You’ve got authors who read their books (like Scott Siglar who’s been doing it for years, ever since the Evo Terra’s Podiobooks was around), authors who perform their own books, performers who perform public domain classics, my own serialization of the forthcoming 2018 edition of the Smashwords Book Marketing Guide, and more.
I hope everyone has a safe and happy New Year’s celebration. I look forward to working with you in 2018 to change the world one indie ebook at a time.
Check out my annual Smashwords Year in Review and 2018 Preview post, also out today.