The KDP Select Program offered by Kindle is sort of symbiotic relationship between Kindle Authors and Kindle owners/readers. This program is optional. When you sign on to the KDP Program you are giving exclusive rights of sale of your book, while you are enrolled in the program. You can also opt out. What that means is while you are in this program you cannot simultaneously have your ebook published by LULU or WordPress or other publishing platforms. Something to think about. The thing to keep in mind is the ebook market in general. If other publishing platforms list your ebook for sale, where would it likely do that. I’m thinking the vast majority of listings are on amazon.com. Kindle.
The KDP program automatically enrolls the author in the Kindle Owner’s Lending Library (KOLL), otherwise known as the reader side of (Kindle) ebooks, whereupon said readers pay a fee for unlimited reading of ebooks (Authors) in the library collection. The Authors then get a cut from the Kindle Global Fund, based upon how many Kindle readers choose your book, and, read at least 10% of the book. Interesting, that. I would posit this is a way of screening... reader review rating that statistically rewards authors whose readership increases and dings authors whose work is aesthetically shunned by readers. Things could be said from both sides of that issue.
There are also three other tools Kindle offers. Two are under the KDP Select banner and the third is another optional tool that offers readers of your print books the chance to purchase your ebook for a lowered rate; Kindle MatchBook. If you sell your ebook for $5.99, you have a choice of discount prices from .99 cents to $2.99, and the discount rates likely increases commensurate with the retail price of your book. Hence, an ebook listing for 12.99 will likely have discount rate possibilities of $5.99, $6.99, etc. I have often wondered why a reader having bought my print book would want to also buy the ebook. Perhaps I am not that imaginative. . .
The other two programs offered through KDP Select are; Countdown Deal, and Free Promotional respective. The Countdown Deal is just that. A scheduled one week (7 day) offer of your ebook at discounted rates, with the author choosing how many increments for discounting. You can begin at .99 cents, $1.99 or $2.99, hold that price point or start low and change every day until the end. Your choice, your strategy. The Free Promotional is intuitive. A five day scheduled period whereupon you are offering your ebook free to any Kindle takers.
Using these programs, or KPD Select at all is the choice of the author. One of the things I like about the program. If you do not take up that program you have no restrictions on using other publishing platforms simultaneously with Kindle. At issue is what other sales channels are there outside Kindle/amazon.com listings? Further investigation will be needed. Stay tuned.
I can say I did sign on to the KDP Select program when I began publishing my ebooks. I am at four now and learning from the experiences.
My strategy had to do more with getting books in the hands of readers, over immediate profit. The downloads of my books during the Free Promotional week saw over a thousand downloads over those five days. Time will tell if the intended investment pays any future dividends, being readers enjoying the reading experience sufficiently to then actually purchase any other of my books. As I said much earlier, the author has to believe in their books(s), their product, fully. If you are timid about your book, your writing, not sure if it stands up to peer review. . . DO NOT DO THIS! Your soul, let alone your heart will not hold up under the raw forces battled on the way to being a successful Indie Writer. It would be my impression, however, that any serious indie writer who has taken the time to read through this blog, learning the process and procedures of POD Publishing is going to cave under pressure. If you made it through these many long extrapolations on publishing, you are my hero. . .
I have spoken more than once of why I chose Create Space as my publishing platform, and remain. No, it isn’t a plug for the business, I have no connection to Create Space outside using their tools to publish my books. I say that as there are two decent reasons for my choice. The first being they offer every tool needed to succeed. The tools are intuitive and easily navigated. The author support programs are optional and offer a large base of readers of ebooks of the format you are publishing.
The second good reason is that the Publishing Platform itself is the backside of amazon.com, the largest bookseller in the entire world. Even with the pricing war and competition with other publishers, they remain the largest. Kindle is the ebook department of amazon.com. Bundled publishing house of (e)books. Every author has their preferences. I am not advocating for this publishing platform. I use it as an example which I highly regard. Google ‘POD publishing and you will find pages of ebook publishing possibilities. Choose wisely.