Making Money from Your Self-Published Book

How much does it cost to self-publish a book, and are Australian authors making money from their self-published book?

Making money from a self-published book or at least making enough money to cover the costs of self-publishing is obviously the dream for many authors. While writing and self-publishing books is a passion project for some Australian authors, and there’s nothing wrong with that, for other authors, self-publishing is an attractive second revenue stream, or for the luckiest of all authors, a career.

So, how much money do you make from self-publishing a book in Australia, and how are self-published Australian authors making money from their books? Let’s take a look.

The main ways Australian authors make money from self-publishing include:

- - - - Selling books online via self-publishing platforms such as Amazon KDP, IngramSpark, Apple Books, and many others.
        
        Selling books in person via author events, festivals, markets, and bookstores.

If you’re currently considering self-publishing, and you’re not sure which is the best self-publishing platform for you, Amazon Kindle Direct Publishing (KDP), IngramSpark Publishing, or others, check out The Best Self-Publishing Platforms to Publish Your Book! We cover the pros and cons of Australia’s most popular self-publishing platforms.

Self-Publishing Services and Costs

If you’re 100% committed to self-publishing a book and undertaking everything else, cover design, editing, proofreading, and formatting, then that’s one option. It’s not an option we recommend, as while people are typically good in one specific area, there aren’t many authors who are great writers, editors, graphic designers, interior formatters, and typesetters.

There are a variety of different programs available to authors that can assist in these services, some free, some paid, and some easier to master than others. However, for Australian and New Zealand authors who would prefer a professional to handle their self-publishing service, there are some costs associated.

The three primary self-publishing services you’ll require are:

1. 1. 1. 1. Professional Editing Services – Which could include a manuscript evaluation, developmental editing, copyediting, and proofreading.
        
        Premium Cover Design Services – Cover design could include a front cover for your ebook format, complete paperback or hardcover design, including front, back, and spine, and title pages for your book interior design.
        
        Attractive and Professional Interior Book Formatting and Typesetting Services – Interior formatting, design, and layout for both your print book and ebook.

Professional Editing Services

How much your editing will cost you depends on a variety of factors, including the genre of your book, the length of your book, your experience and skill as a writer, and how skilled you are at implementing feedback from your editor.

A manuscript evaluation is a great starting point for both experienced and inexperienced authors.

For experienced authors, a manuscript evaluation will give them a new perspective on their manuscript and allow them to make any changes they feel are necessary based on their editor’s advice. Experienced writers with strong knowledge and confidence in their writing abilities, this generally allows them to skip a developmental edit and go straight to a copyedit and proofread.

For new authors, a manuscript evaluation can provide valuable feedback and also be an essential first step before heading into developmental editing.

Developmental editing gives you line-by-line feedback, advice, and suggestions. It’s a big picture look at your manuscript and a good opportunity to get tips and feedback from a professional editor.

Copyediting is the final step before proofreading. It’s a final opportunity to tighten up any loose ends, correct grammar and punctuation, and ensure your manuscript is 99% polished.

The final step is a proofread, which is often done after your print draft has been laid out. The perfect opportunity to catch any last-minute typos and spelling mistakes that may have been missed during your copyediting.

Premium Cover Design Services

Covers sell books. It’s that simple. A professional, attractive cover design will encourage customers to take the next step and learn more about your book. However, a poorly designed cover that looks cheap and self-published will often leave your book sitting on the shelf, regardless of how good the story is.

Included in our premium cover design packages are two design concepts, giving you two distinct choices for your cover. Title pages for your book’s interior, fonts, style, and colour guide, and 3D mock-ups and print and ebook covers for all self-publishing packages.

Check out 4 Tips for Working with a Book Cover Designer! To learn expert tips on working with a professional book cover designer for your next book.

Professional Interior Book Formatting Services

Once you have the manuscript ready and the cover, it’s time for print and ebook formatting. Good book formatters follow the Chicago Manual of Style (CMoS), which governs the general rules for print and ebook formatting.

If you don’t know what trim size you would like, they can make a professional suggestion based on your manuscript length and genre.

When they format your book, especially the print version, they follow standard formatting rules, such as reflowable chapters, recto chapter starts, page numbering on blank pages, chapter pages, part pages, front matter numbering, margins, line spacing, and font size. All of these rules are designed to make your book easier to read while looking professional.

Our suggestion to avoid your book looking and feeling self-published is to follow standard formatting rules. Attempting to go outside of these rules doesn’t make your book unique. It makes it look poorly formatted.

Ebooks are a little simpler. We take your approved print book and convert it into an ebook. Ebooks are designed to be as functional and straightforward as possible to ensure they are universally readable across multiple devices. The more complicated you make your ebook interior, the more likely you are to encounter issues with how it displays across different devices.

If you are ready to start your book formatting, check out 8 Formatting Tips for Your Fiction or Non-Fiction Book.

Understanding Amazon Ranks and Online Ranks

When you self-publish your book on Amazon, you’re allowed to pick three main categories. Your book can appear in multiple categories, depending on the title and keyword you choose, but you can personally select the three main categories you would like your book to appear in.

Along with those subcategories, there are also bigger categories like paperback versus ebook, fiction and non-fiction, children’s books, and YA, and the list goes on. There is also an overall book rank, which includes all books available on Amazon.

Each marketplace has its own rankings and categories, with categories available on one Amazon marketplace, but not another. Every time you sell a book, it affects your ranking, both overall and in your categories.

Within each subcategory, there are shortcuts shoppers can take, such as best sellers and the top 100. This allows them to view the best books in their desired category.

Every time you sell a book, your rank improves. The higher your rank climbs, the more your visibility improves, and the more people will see your book. The more books you sell, the more Amazon is likely to recommend your book in search results.

Sales increase your rank, and the higher your rank is, the more books you sell. Getting your book into the top ten of your category is difficult, but achievable. Once you get it into the top ten, keeping it there is essential.

Obviously, every author wants to sell books, but it’s not always that easy. However, Amazon Ads makes it easy to advertise your book where people are looking to buy books, on Amazon. Amazon Ads aren’t always the easiest to perfect, but they give you a lot of opportunities to try different strategies, keywords, and placements until you find something that works for you.

Selling Books Online

Online sales for a lot of self-published authors are the backbone of their sales. Once you complete and upload your book, you can let print-on-demand (POD) platforms such as Amazon Kindle Direct Publishing (KDP) and IngramSpark Publishing handle the printing and shipping of your online sales. They’ll manage sales, print copies, and ship directly to customers for you.

Check out What Is Print On Demand for Authors? For a detailed breakdown of what POD is and how it works. Print-on-demand printing options were the actual birth of self-publishing for many authors.

As a self-published author, you’ll need to promote and market your book. However, a healthy online presence is always recommended rather than simply relying on in-person sales.

When you’re deciding on retail prices online, take your time and do some competitor research. You want to make a healthy royalty to sustain your following books and recoup your costs. However, you don’t want to underprice or overprice your book. Consider your print and shipping costs, how much of a royalty you’ll receive, and other books in your category, especially how much established and well-known authors are charging for their books.

Selling Books In-Person

Selling your books in person is a tried-and-true method of not only making money from your self-published book. It also allows you to build a loyal following. It doesn’t hurt to get your name out in your local area, either!

Attending markets, festivals, special events, and shows are all great opportunities to set up any in-person sales. However, picking the right markets and events can be a little bit of a trial-and-error process. Some factors to track include:

- - - - How much does it cost to set up a table
        
        Whether they offer share options to multiple authors
        
        How much did you make
        
        How many copies did you sell
        
        The time spent in attendance
        
        Consider other costs, such as fuel, accommodation, and meals.

Another in-person option is selling books to local stores and bookshops. Once you have your expanded distribution set up, you can start approaching retailers to stock your book.

Some cons of this approach are that you’ll need to invest in physical copies of your book upfront. Then you’ll need to carefully manage stock levels. Ensure your books are protected during transport, shipping, and storage.

Maximizing Sales Channels and Expanded Distribution

Amazon KDP is a direct-to-customer sales channel via Amazon marketplaces worldwide. However, they also offer expanded distribution via Ingram Content Group to other online retailers and wholesalers.

IngramSpark is a wholesaler. They don’t sell directly to customers. Instead, they add your book to other online platforms, including Amazon, Apple, Barnes & Noble, wholesalers, and library and bookstore catalogues.

You cannot use expanded distribution through both Amazon KDP and IngramSpark, as they both use Ingram Content Group. You should choose one of them for your expanded distribution only.

By enrolling in expanded distribution, you’re exposing your book to multiple readers who don’t just use one platform.

Investing In Your Next Book | Making Money from Your Self-Published Book

If you’re a one-book-and-done author, that’s great. However, if you’re planning multiple books, the money you make from self-publishing your first book should fund your next one. After you recoup your costs and investment, invest that money into your next book.

Carefully track how much you spent, and where you spent it. This will assist you when you’re budgeting for book number two.