Increase eBook Sales—Market Research (Part 2)
Are you searching for ways to you can increase ebook sales? According to stats posted on WordsRated by Nicholas Rizzo in 2022, “300 million self-published books are sold each year” and “$1.25 billion worth of self-published books are sold each year.” Self-publishing continues to grow year after year. Why not be part of it?
How can you increase ebook sales and be part of the $1.25 billion?
One part of the straightforward advice from Derek Murphy at Creativindie is needing to know the market, also known as market research. In this part of the series, we’ll look at the market research process and methods for aspiring authors to use. In the rest of this 5-part series (available in our other blogs), we’ll dive into his other suggested topics, such as meeting genre expectations and getting your ebook before readers.
Benefits of Market Research to Increase eBook Sales
Take time now to understand the ebook market. Finding out which ebooks in your genre are currently selling can provide valuable insights for promoting your ebook. It can also help you become more competitive in the market. It helps you build a solid foundation to begin increasing ebook sales. It’s training you to be better prepared, and it helps keep your efforts moving in the right direction. That is, the time you spend researching the ebook market is time well spent now, as it will save you time in the future.
Doing Market Research
The goal of researching the market is to learn what’s currently selling and what’s trending overall at Amazon. Why Amazon? It has the largest share of the book market with nearly 70% of book sales.
Navigate to Amazon. At the left of the search bar, click the drop-down menu and select “Books.” Then type in your book’s genre or subject matter. For example, type in young adult romance or self-help books for women. You don’t need to add the words, “best sellers,” as Amazon will automatically give you the best seller list. When you see the results, ignore the ones at the top if they’re marked “sponsored” (which are paid ads).
As you look at the best sellers on the Amazon list, look closely at several elements for your ebook’s genre. What are the current titles, topics, themes, and cover designs, including images? For instance, does the cover feature a couple? What feeling is it conveying? Are the cover colors dark or bright? Are the fonts for the titles serious looking or more whimsical?
After you’ve looked at the top 50, then zero in on at least three to five ebooks similar to your book. Click on each title, and go to its Amazon sales page. Look at the following:
- What words are used in their titles and subtitles?
- How are the descriptions written: what’s first, then what. Is there a call to action?
- What does each of those ebooks emphasize on their sales page?
- Note the price.
- Then scroll down to the reviews and read what the audience says about the ebook, as it lets you know what readers care about.
Consider how your ebook compares to the popular, in-demand ones.
Conducting your market research on Amazon Books can help you make decisions about your ebook that can lead to increased sales. Keep in mind: both the ebook’s cover and description can affect sales. When the cover fits within the genre, it can help drive sales. Also, a well-written description of your ebook for its Amazon sales page can help increase sales.
In addition to using Amazon for market research, you could also do the same type of research at other book sites, such as GoodReads or Barnes & Noble.
Another part of market research is knowing and understanding the audience of your ebook’s genre. Who is the ideal reader? What are the reader’s age, gender, and interests? What social media does the audience use? Are they on Facebook, TikTok, Twitter, or Instagram? How does your ebook meet the reader’s expectations? Remember, knowing more about your ebook’s genre can help you reach readers better and drive sales growth.
In addition, as part of your market research, take a look at websites for authors in your book’s genre. How do they use their websites to drive sales? How does the website reflect the genre? Does the site reflect a formal or informal tone? What colors, fonts, and images are used on the website? Are those elements similar to what you saw at Amazon? Do authors offer a newsletter? Do they write blogs? What ways do they provide for people to purchase their ebooks? Do they quote reviews from their ebooks? What else is used on authors’ websites that might help them increase sales?
Taking the time to do more in-depth market research can help you offer an ebook your audience will enjoy, and it can help drive increased sales. Don’t wait. Start today!
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