KDP Select is a new option via Amazon that features a large annual fund dedicated to independent authors and publishers. For the month of July the fund is at $600,000. If an author chooses to make their book exclusive to the Kindle Store for at least 90 days, their book is eligible to be included in the Kindle Owners’ Lending Library where the author can earn a share of this fund depending on how often his/her book is borrowed.
In addition, by choosing KDP Select, authors have access to a new set of promotional tools, starting with the option to offer enrolled books free to readers for up to 5 days every 90 days. Sound too good to be true? Well maybe for you it is.
Exclusive means Exclusive
While there is money to be made with KDP Select if your book is borrowed frequently, you have to keep in mind that during the 90 day period you are excluded from offering a digital version of your book on any other medium. This includes your own website, blog or facebook page in addition to Barnes and Noble’s Nook, Squibd or any other place where you might even include just a digital snippet of your work.
For many independent authors this is no big deal. They argue that 95% of their sales come through Amazon anyway so they aren’t really losing much money if they give up the right to digitally publish elsewhere. But the money is only one facet. If your goal is to get your name and your work out to the largest possible audience then this exclusivity may prevent you from doing that effectively.
The key is to make sure you’ve considered all the marketing aspects and impacts before signing up for KDP Select. Ask yourself a few questions. How would this affect your plan for a virtual book tour? Had you planned a digital press release that would have included an excerpt from your book? Did you plan to create a stir on Facebook through a few well chosen paragraphs? Once you’ve taken a hard look at your marketing plan then if KDP Select is still a good fit – do it!