Monday Tip – Is Kindle Publishing The New Adsense?

I normally consider myself to be at the bleeding edge of what works in IM and what the trends are but one trend has totally passed me by.

That trend is publishing books for the Kindle.

I first thought I might have missed something when I had a request last month to add a kindle and self publishing forum to WPGoldmine, I really didn’t think that there would be that much interest… How wrong was I?

1 Month later there are over 1100 posts in that section.

When I saw the following post today by one of our Kindle and Self-Publishing pioneers Damian I knew i’d got it very wrong, He said:

Tomorrow it will be a month since CS Europe started. I’ve made £100 in extra sales just from the UK in 1 month and I even hiked the prices as a test. My Adsense income has reduced so much that the 5 minutes it took me to make all my CS books available in Europe has eclipsed 3 years of work on my sites now haha.

(CS is CreateSpace a self publishing site for Amazon)

The clues were under my own roof if I’d been paying attention, my wife has her own writing business and up to about 2 months ago she was almost exclusively writing 500-700 words articles for clients, now she spends her time almost exclusively researching and writing e-books for clients. It seems that this time I’ve been really slow to pick on on self publishing despite have several successful books on Clickbank.

The great thing about self publishing seems to be that you can publish in any genere that you want, The topics covered by the WPG members who are making money from kindle are varied from self help books, receipe books  fiction books to children’s stories, it seems you are really only held back by your imagination.

Publishing kindle books initially got a bad reputation when like with every new income generating method people decided that they could make money without doing much work, this resulted in people publishing the same PLR books as everyone else, Amazon clamped down on this last year and since then the medium has gone from strength to strength and is only set to get stronger.

Looking around researching this post, I noticed that the really interesting thing about kindle publishing and self publishing is that there are so many other markets that will open up to you in the coming months, I have a kindle reader on my iPad and my iPhone, my daughter has one on here smartphone, Apple have ibooks, Barnes and Noble have the Nook e-book reader which has recently had $300 million worth of backing from Microsoft, there is a vast market out there just waiting to be tapped.

The process for earning money from your e-books is on the face of it seems relatively simple, you publish your book on to kindle, then set it as a free book for a set period of time i.e  48 hours and publicize it, this helps get reviews and gets it ranking in the bestsellers lists. Once that happens you then charge for it,  $1.99 or $2.99 seems to be the sweet spot at the moment.Just like Adsense sites, you don’t have just one book, this is a process that is scaleable so you have several books (ever noticed that the most successful authors have series of books based around the same characters?) I am sure you all have heard about Amanda Hocking who has made multiple Millions of dollars as a result of self publishing on the kindle 99 cents at a time.

Last year things started to take a strange twist with amazon setting up their own publishing companies to sign authors and actively market books in stores and on kindles, For example Thomas and Mercer focus on publishing thrillers and mysteries, while other amazon publishing houses focus on romance and other genre’s. You can be sure that other bricks and mortar publishers will be looking closely at the success of authors like  Amanda Hocking and E.L.James and setting aside their prejudice about self published authors.

Below you can see an Infographic I got from Infographiclabs that shows the growth of the e-reader, one thing that stands out for me is that the demographic that buys e-readers is the very same demographic that most marketers want to target. If you’d like to know more or get started in publishing you could do worse that checking out the Kindle and Self Publishing Forum at WPgoldmine

 

 

 

Comments

  1. says

    Glad to see you jumped in on the world of Kindle Publishing Mark. Can’t wait to see all the new ideas you come up with for it.

    Here is a link to one of my books; Website Traffic Step By Step Guide
    http://www.amazon.com/dp/B007NYQQOK

    I also have quite a few articles on it including best products etc. at my SEOmenu2go site.

    Kindle is such an exciting opportunity!

    Lee

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  2. says

    I’ve really been thinking about this. My wife likes to write children’s books, plus we’ve got some ideas for some parenting books. Only so many hours in the day, though…

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  3. says

    Hey Mark, it looks like comment luv isn’t working. At least not for me, I’ll have to check it on my sites.

    [Reply]

    Mark
    Twitter:
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    Hmmm very strange I’ll need to check that out…I had that issue myself on another site today

    [Reply]

  4. Damian Jackson says

    Wow Mark, I never knew I’d inspire a blog post when I made that post yesterday.

    How well is self publishing going for me? Well today I’ve pretty much quit my job and am now a full time author.

    [Reply]

    Mark
    Twitter:
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    Well done Damian, thats great to hear! Welcome to the world of the unemployable :)

    [Reply]

    Matson Magleby
    Twitter:
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    Congratulations Damian! That is inspiring to hear of your success!
    Matson Magleby recently posted..Matson Magleby Internet InnovatorMy Profile

    [Reply]

  5. says

    Mark,
    Over and over I keep seeing the same thing: in order to make it as an [previously unknown] author, you have to write more than one book in your chosen genre. I’m just tiptoeing into this book writing thing, but Amazon makes it so easy (and cheap!) now to publish, it’s crazy for a writer not to take at least some advantage of this. Through Kindle, Nook, and Smashwords you can have e-books available all over the world on almost any e-reading device. With CreateSpace print-on-demand you can have your books available in print form as well, delivered directly to your clients. Again, for almost free. I can’t say enough good things about this trend. It’s exciting to see and even more exciting to step into the waters!

    [Reply]

  6. says

    Thanks for this reminder Mark.

    Kindle publishing is certainly an income stream that I can add to my complementary therapy EFT (Tapping) niche. With this niche there are so many issues, that a book could be written about each one.

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  7. says

    Hai, Mark.

    Great insight. Thank you for sharing.
    But writing is kind of high level for me.
    It took a lot of time just to write an ordinary post, not to mention the e-book.

    hahaha… just want to speak my mind.

    Again, Thank you.

    [Reply]

    Mark
    Twitter:
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    Thats the Joy of outsourcing :)

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  8. Mike says

    Dear Mark:

    Yea, from all the recent WSO’s and new courses, it looks like Kindle may well be the next Adsense.

    The graphic you provided also has a lot of very interesting stats that would also point to a very hot market. However, there is one stat I do not understand. Towards the top of the graph, it breaks the market down by age, income and gender. The following are the percentage noted for gender: 28% F and 29% M. Any guesses as to what the remaining percentage may be?

    Otherwise a very informative graph.

    As always, your insights are greatly appreciated.

    Mike

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    Mark
    Twitter:
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    Mike I think that it’s just the number of males and females that have read a book in the past year, the difference would be made up of the percentage of children.

    So 21% of all americans have read a book, 29% of males have read a book and 28% of females. If you knew the breakdown of the population you could work out how many children had read a book

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  9. says

    Mark, at this stage, I’ve got to play the devil’s advocate when it comes to the Kindle publishing craze.

    I’m an avid reader of both fiction and non-fiction, but can’t help but notice the number of bookshops closing down. Also the piles of low quality pulp fiction being hawked from remainder tables.

    Does this mean people are reading less, or reading more than ever, but turning to E-readers instead.

    Even if the latter is the case, surely with so many fancying themselves as authors, wont the E-book market soon be saturated with low quality rubbish?

    Leon
    Leon recently posted..Swiss Gear Montreaux Ten Person Family Dome TentMy Profile

    [Reply]

    Mark
    Twitter:
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    Leon, I think bookshops closing down and the prevelance of e-books are 2 different things.. Bookshops have been hit hard by amazon and the reluctance of publishers to discount. For years they stuck their head in the sand and ignored the trends…until it was too late.

    I used to buy 1 or 2 books a month I now buy 4 or 5 from amazon for the same amount. We have a local bookshop here who will sell books at €17 -€20 for a new release hardback… Amazon will send the the same book with free postage to spain for £6.79 which am I going to choose?

    There has always been low quality content, look at the mainstream authors who churn out books every few months many of them use ghost writers or emply writer to write to their “formula” I rather pay $99c for a book and find it’s rubbish that $7.99 ;)

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  10. Mark says

    I know of a couple including a membership package but i would ask the guys in the forum….they are up to date

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  11. says

    I just love the fact that I can choose a book from the Amazon store, and instantly download it to my kindle.
    The choice is huge and the “price is right” I heard/read somewhere that the best thing to do is write say a trilogy then link then to each other before you publish. You get better results from Amazon!!
    Paul Conway recently posted..How to Build Your Squeeze PageMy Profile

    [Reply]

  12. Mias Muller says

    Hey Mark,
    I am going to have to join Serial Entrepreneurs Anonymous…
    Kindle is indeed an interesting additional income stream, like you said, you can outsource a lot of the work.

    Keep it up mate!

    [Reply]

  13. Mary says

    Hey Mark, this was a very enlighting post, thanks a lot!
    I have a question though. In Demian’s comment he talks about CreateSpace, and you talk about Kindle in the post. These are slightly different (in CS you cannot set such low prices). Do you think there is a difference in the success you can have for these two options? Would you recommend one better than the other?

    [Reply]

    Mark
    Twitter:
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    I think you can have sucess with both, it’s a pretty quick job to turn a kindle book into a create space book and vice versa

    [Reply]

  14. says

    Great infographics. Thanks. In order to compete with tablet technology, Kindle designers are looking for the next best thing to beat the rest. KDK is a method of collaboration between developers who use the Kindle for personal use and Amazon. It will be quite interesting to see how the Kindle community responds to apps in the Kindle store.
    Self-Publisher on Kindle recently posted..eBook Revenues Beat Hardcovers in 2012My Profile

    [Reply]

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