The theory of selling ebooks by offering them for free is simple; it eliminates nearly all the friction involved in buying an ebook. The potential reader sees the book and the free price, and if the book sparks any interest at all, they move their cursor to the BUY button and click. Bingo! Sale closed.
Of course you've made no money on that sale, but on the plus side, you haven't lost any either. The only thing you may have lost is the opportunity to sell that book to that customer for money. You can judge how likely that prospect was for yourself. On the plus side, you have created the possibility of that reader enjoying the free ebook and going on to buy more of your books with higher price tags, books that they would've purchased if they had not sampled your free ebook.
The fact that copies of ebooks cost the author nothing to produce means that they can be sold for nothing without losing money. Oh, there is often some fixed cost associated in the production of an ebook, but that cost is fixed, i.e. it is the same whether one sells one book or a million, so there is no way to attach a set cost to individual books, as it will vary by the number of books sold. You might as well just look on it as the franchise cost, the price of starting your publishing business.
In practice, free ebooks are most often used to sell the other books that an author is offering for more than nothing, i.e. a form of advertising. Since giving free ebooks away involves no out of pocket money, you can give away a million free copies to a million readers at no cost. On the other hand, active advertising can cost money, and a lot of it, if you want it to be effective.
In advertising you pay either every time someone sees your ad, as in Facebook ads, or every time someone clicks on your ad, as in advertising on Amazon. You can also pay to place your book in various book related newsletters like BookBub. I've never advertised any of my books, so I can say nothing about how effective, or not, advertising is from personal experience. I do, however, believe that some sort of promotion and/or advertising is, in 2023, essential for commercial success in indie publishing and for it to be effective, a fairly large advertising budget is required. Even so, free books have a place in that effort as well.
Advertising is only one factor in the formula for commercial success in indie publishing, and I think I can say that advertising alone will not be successful unless you are promoting a book that is on point for the target market. Even so, the ads themselves will often cost more than the royalty the sales brings in. Ryan Cahill, a best selling indie fantasy author spends something like a thousand dollars a month on ads. He has said that he probably loses money on each book he sells from one of his ads. Nevertheless he feels they are worth the money spent since that book sale often leads to sales of his other books. (Pro tip: don't advertise your book before you have several books to sell.) Ideally what advertising and other promotional activity does it to build buzz that gets people interested and talking about your book. It is readers who really sell books. That said, you also need ads to continuedly keep your books on reader radar, since with so many books to choose from, readers can easily forget about yours. For that reason, if you want to be a commercially successful author, you will need to run ads continually - as well a produce books every few months... Free ebooks alone won't do it.
However, if your goals are less lofty than making a living as a self-published author, or your budget is limited, the ease of selling a book for nothing may be a good way to expand your readership. Still, there's a catch, there's always a catch. And that catch is that free ebooks do only half of what paid advertising does; while it can can put a book into the hands of a reader more readily than a book with a non-free price, what it can't do is get your book before the eyes of potential customers. Readers still have to find your free ebook to buy and try it. The big advantage of paid advertising is that it places your books before the eyes of potential buyers. A free price alone won't make your book any more visible. Or maybe it will...
There are readers, and lord knows, I'm one, who are accustomed to reading books without having to pay (or pay very little) for them. We borrow the books from the library. We pick them up at yard sales for next to nothing. And we shop for free ebooks on all the major ebook retailers. I have a feeling that we are a distinct sub-category of readers - a distinct market. And while it is obviously not a lucrative market, it is still a fairly substantial market. What is important about this market is that there are far fewer ebooks in this market to compete with. Your free ebooks are far easier to find in this market than a retail priced book in the paid market. There are millions of ebooks on Amazon, but the free ebook market probably has only 100,000 ebooks at any given time. Amazon even offers lists of 100 free books for almost every sub-genre, making your books far more readily visible to these bargain readers. Most other retails also list free ebooks by genre, making discovering your book a simple matter of scrolling through a dozen web pages of the appropriate list. Plus, many of these free ebook readers are avid readers, hence the necessity of acquiring books on the cheap. They will take the time to scroll through those pages to eventually come across your free ebook, And they might even spend money to read your full price books, if they are impressed enough with your free ebook. Anything is possible.
All of which is to say that free ebooks, when considered their cost, i.e. nothing, and the possibility that being free will bring them to the attention of more potential readers makes them a good method of promoting an author's work. And because of that it is one that many authors use.
In next week I will conclude my manifesto with "The Practice of Selling Ebooks for Nothing." I'll take a closer look at the ways and various outcomes of selling ebooks for free. Stay tuned.
Oh, by the way, shown above are some free ebooks: Links to the various stores that offer them in the right hand column.
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