Rarely do I ever do two posts in one day … however, this is a revisit to a prior post about Amazon and their new incentive program and before it becomes old news, or gets overlooked, I wanted to share this … Enjoy!
On December 4th I posted a blog about how Amazon was attempting to monopolize the market by taking the lion share of Indie authors, essentially removing our works from the competitors shelves by systematically offering us amazing perks and bonuses. You can read more about that here. Very hush-hush in the beginning … the details are now being leaked … it stacked up to almost being an offer you can’t refuse (read: me using my big, bad, mafia voice).
At the time I initially posted, I suspected that Amazon did fear no longer being king of the eReader castle with their beloved Kindle and needed to figure out someway to continue to draw the readers and newbies into their lair. Whether that’s right or wrong … it does appear that the rumors were true. Amazon wants you — and they want you exclusively.
Mark Coker at the Huffington Post shed some light on this ongoing issue with his article which can be found here.
Pun totally intended … but man, Amazon has made it a jungle out there.
The brass-tacks are this:
-Amazon is giving up $500,000 per month IF you opt into their lending program … so while you’re not “selling” books, you are still netting a potentially huge profit. The example given was, if your lent book sums 1.5% of all the books borrowed, you stand to make a tidy sum of $7,500 for that month. The pool is shared between all authors with no promises … you may do well, you may not. It’s a gamble.
-Exclusivity deals are signed in 3 month spurts. You’re not locked for life … but pulling yourself down from other sites like B&N, iBooks and ePub as well as Smashwords, even for that period, can drastically hurt your sales, visibility and really fumble your accurate sales data.
-If you violate the agreement, you may lose the ability to sell through Amazon forever … as in, the rest of your life.
-While the deal spans 3 months at a time, if you fail to opt out at the close of your 3 months, you’re locked in for another 3 … or … read the above dash.
These are things you, as an author, should know. I’ve always said, when your an Indie — you’re more than an author, you’re a business owner. All things considered, this must work for you if it is going to work at all.
My reaction to that is this:
I love Amazon. I own a Kindle, and I do believe it’s kind of magical. I do a shit-ton of shopping on Amazon, and they are already a monopoly when it comes to me spending my money. But … that’s me as an individual, as a person … not me as a business woman running my own little thing out here in Indie Land.
Do I think it’s a sweet deal? Heck yes. If your sales via Amazon are proven, if they account for most of your business … signing on to this would make you, in the words of Charlie Sheen, WINNING. You’re selling, you’re lending, you’re moving books, you’re making money … you’re one flippin’ happy ass author.
If you’re new, you stand to really shoot yourself in the foot. Like, with a 12 gauge shotgun.
I get perpetually stuck on asking myself WWHCD? WWRHD? WWLBD? WWPD? I doubt they’d be for this sort of business deal. I think they see any limitations as just that … a limitation.
I believe the first 3 months of a new book are so important … especially for a new author. That’s why PR is so big … the bigger splash you need, the bigger market you allow yourself to breach. If we’re talking an older book, I might feel differently, but I don’t think Amazon has given that kind of loop-hole.
So my question is …
How do you feel? Are you going for it? Thoughts? Share … curious minds want to know …