The Power of Flash Sales March 5, 2016 – Posted in: Blog – Tags: amazon algorithm, Book Promotion, book ranking, indie publishing
The idea behind flash sales is simple: Your book ranking doesn’t get better if your book just sits on the shelf. The opposite is true: Your book starts to decay as soon as sales slow down.
That’s usually the case after your initial social media blast is completed and the number of blogs featuring your book are declining. Then it’s time for the first flash sale.
As the name indicates, flash sales don’t need to last long. 2-3 days is plenty of time to create a blitz of buying action. Maybe you even go with a shorter, “1-day only” surprise sale.
Whichever time period you decide on, price jigging is easy. Just drop the price on all your books or one at a time to $0.99. Then get the word out. Do a social media blast, run an ad… Be creative!
Looking at the royalties you earn, flash sales may appear painful at first. At a price of $0.99, the commission amazon pays automatically drops from 70% to 35%. Ouch! That does hurt.
But it will all be worth it at the end. If done correctly, your book sales will increase with flash sales and so will your royalties. A fellow blogger recently posted the following example:
Before: 150 sales per month * $7 commission = $35/day
During sale: 500 sales in 1 days * 34 cents = $170/day
After sale: 300 sales per month *$7 commission = $70/day
As you can see, the idea of price jigging is to increase the sales for several weeks or longer, an unmatched strategy for improving your ranking.
Another benefit of flash sales is that you will most likely get some additional reviews. And that’s priceless.
The benefits of reviews will be the topic of our next blog post. Stay tuned!