March was my sixth month selling ebooks. In this post I’ll share my sales and royalty information for those six months.
With no further ado, here is a chart (click to see larger):
I sold 1202 copies of my 3 titles in March. That’s 2.5 times more than February. I attribute this increase in copies sold to the decrease in price of my novel, Dead Dwarves Don’t Dance, from $2.99 to $.99 (the price change transpired on March 1). I will provide additional information about the results of the price decrease in the next few days.
My average sales per day for March were 41.4 (up from 16.9 in February).
My March royalties are 1.8 times those of February ($884 vs. $472).
The lesser improvement in royalties (as compared to units sold) is due to my price decrease. However, I also increased the price of my DIY book, Format Your Ebook in One Hour, from $.99 to $2.99. That’s the green bar. Royalties really skyrocketed for that book after I raised the price (perhaps proving that non-fiction guidebooks have great price inelasticity than novels).
What this means for me
I haven’t yet made a profit. I have earned about $1865 in royalties so far. I’m still about $700 shy of breaking even, but that should happen next month. Woot!
If sales remain stable at March levels, my gross royalties for 2011 will be about $10,000. Subtracting my expenses from that nets about $7500 in income. That is really good for the first year of an unknown author. I am quite pleased with these results. I think I will continue writing and publishing ebooks. J
I’ll be publishing my second full length novel, a young adult adventure titled The Elemental Odyssey, within the next few days (as soon as I get the cover art from Igor). Hopefully, this will sell at least as well as my cyberpunk novel, which means I might increase my gross revenue for 2011 by another couple thousand.
If my rate of sales increase continues as it has in the past several months,
What this means for you
You don’t need a vast marketing team to be successful at epublishing. I spent about $250 on paid advertising so far. I did little self-promotion other than this blog and Facebook and Twitter announcements.
If you have a few well-written books in a relatively popular genre, you could easily earn several thousand dollars in your first year.
My advice: Stop waiting for a corporate publishing deal. Self-publish now! The sooner you do, the sooner you can break even and even start making a nice fistful of money to augment your day job.