Traditional publishers have long known the advantages of taking preorders. Did you realize that in most cases, the New York Times bestseller list number are based upon preorders rather than actual sales? True. It’s based on how many copies go into the store, which can sometimes be wildly different from the number that are purchased in the store, which has led many to question the validity of the list.
Up till now, taking preorders has not been an option for independent publishers, but that has changed. Amazon’s KDP platform for self-publishing eBooks now permits you to take orders for a book before the launch date. The advantage? When that launch date finally arrives, you’ll get credit for not only that day’s sales but all the preorders as well, and that extra boost can propel you to the top of the list (especially if you have carefully and strategically chosen the list when you categorized your book). Although iBooks and Kobo have done this for a while, this is a recent policy change for Amazon.
Does it work? Last year, almost two-thirds of the top 200 bestsellers distributed by Smashwords took preorders (though overall, only one book in eight at Smashwords took preorders). It would appear preorders get you on bestsellers lists.
This won’t happen by accident. You’ll have to work Facebook and other social media to encourage people to preorder. Presumably you’ve posted a lot about the book in advance, building interest and anticipation, before you actually offer it as a preorder. But once the book is available, every post about it should contain a link to the preorder site.
If you really want to spur preorders, the obvious play is to offer a lower price. 50% off for preorders, but the price jumps on release day.
Don’t start taking preorders until the book is a done deal, finished, uploaded, perfect and ready to roll. A book not ready on the release date will not only not get you on the bestseller list, it will be a personal embarrassment and a business disaster.
Get your superfans, your near and dear, to post positive reviews as soon as possible, preferably on the release date or, where possible, earlier. That can only help push you up the list.
Update the back matter in your previous eBooks to tell readers about the new book with a hyperlink to the preorder site. You could even lower prices or pulse prices to get more people reading the older books–and seeing the promotion for the new one.
And then? Plan an agressive marketing campaign that covers the entire week of the release. How? That will be the topic of next week’s blog.