First of all, sorry for the hit and run posts lately. I know I’ve been dropping these posts and then running off and not being good about responding to comments. It’s rude and I apologize. I want to thank everyone who reassured me about that email/article the other day, especially. And I’m claiming “silly season” for the rest of it.
And, not to be all about the apologies, but this is another post that’s very indie-author oriented and of limited interest to readers.
So today I found that I finally have actual numbers for my sales at Barnes and Noble through Smashwords, so that I can give a more accurate picture.
I wish I’d kept better records of this stuff, but it’s hard to keep up with everything. Hush Money was published via Smashwords on August 3rd, but I don’t think it caught a ship date to BN until the end of the month. Then it takes a while for the book to actually show up at BN. So I don’t remember the date it actually showed up at BN, but it was sometime in September.
I published via PubIt on October 14. The book went live quickly, within a day, I think, and the Smashwords version was taken down within a week.
Anyway, sales at BN via Smashwords were actually better than I thought. For the period ending October 31, I sold 13 copies and estimate royalties (because they just gave me sales, not royalties yet) at $5.59.
These last two months with PubIt I’ve sold over 1800 copies and they tell me they owe me over $700.
(Since we never get paid until 2 months after these sales, I still haven’t actually received more than $150 for my work, so all this discussion of royalties still feels very theoretical for me. Theoretically cool, but still like Monopoly money.)
Why some authors took off at PubIt right away and some haven’t is something we’ve been trying to figure out. And it’s not just one thing. I’m pretty sure price has something to do with it, as some readers have told me they picked up Hush Money because it’s cheap. It’s possible there was a problem with the searchability of the Smashwords listings and they weren’t being categorized and sorted when NOOK users wanted to search by price.
But it seems unlikely that price, and searching by price, could be all of it, since Zoe Winters’ sales make mine look like peanuts, and her work starts at $2.99.
It’s possible that BN chose to promote some authors on some kind of a “Deals” list or something of that nature, but I’ve no idea if that happened, nor how they would have selected.
But I think the point is that BN just hadn’t gotten behind the indie books until PubIt. It doesn’t seem like they took care of the Smashwords listings. Many authors have complained about not being searchable by category, and I think browsability must be an issue. Essentially, it seemed that we just weren’t being found on BN unless someone searched for our book specifically or followed a direct link. Until PubIt.
It should be noted that the royalty rate for titles under $2.99 is going to be significantly higher via Smashwords, as Kait recently explained to us so clearly in this article. However, this is like my arguments about the 99cent price point for new indies: a higher royalty on significantly fewer sales doesn’t benefit you.
And I say this loving Smashwords, and Mark, the vision of it, and what it tries to do for us. I hope we’ll come to a point where indies will have enough of the market that our listings will be treated as valuable commodities no matter how we choose to publish, and that Smashwords will gain the power to assure us of proper categorization, browsing, and searchability with other retailers, more reasonable and certain stocking times (I’m STILL not stocked at Diesel), faster reporting and payment. Because the one-stop, multiformat publishing and distribution they offer really is a great service. The ebook thing, as a whole, is still very new. Everyone’s still scrabbling to try to figure it out, and just starting to realize that it’s worth doing well.
(I mean, look, if I just made $700 at BN at 40%, that means they made $1050. Which is not huge, but I’m sure they’ve got plenty of listings that didn’t make that for them in these last two months. And I’m not Zoe Winters, Amanda Hocking, or HP Mallory who are making me look like adorable baby indie isn’t that cute. Is Borders wondering if maybe now it’s time to get a piece of these indie sales yet?)
Anyway, I hope this helps any of you who might be trying to make the decision about whether to go with Smashwords to get into BN–which I believe Konrath said he was sticking with a few weeks ago–or whether to go with PubIt. And if anyone’s still on the fence about whether they should bother with anything outside of Amazon, I hope this helps you realize the potential of sales at Barnes and Noble.