Here's the second half of Joe Konrath's article:
Authors need 100 sales a day at $2.99 to live very well.
What do you need to do to reach that 100 sales a day?
1. Write good stories. As many and as fast as you can. They should be edited, proofed, and well formatted I use www.52novels.com for formatting, and they do better work than any of the Big 6. The more you have out there, the better you'll do.
2. Make sure you have a great product description and a professional cover. My cover artist, Carl Graves, has 24 new covers on sale on his website for $200 each. A bunch of them are awesome, and $200 is a great deal (he charges me $500). Check them out, first come first serve, at http://extendedimagery.com/predesignedcovers.html.
3. Find the sweet spot between price and quantity sold, where you make the most profit. Currently I'm $3.99 for novels, $2.99 for novellas (over 10k words) and story collections, and 99 cents for short stories. But this isn't set in stone.
4. Experiment with different ways to promote. Some things I've tried to varying degrees of success are giving away free ebooks to get reviews, announcing sales on ebook websites, having sales, making titles free for a limited time, partnering with different platforms, and guest blogging.
What don't I bother with?
1. Advertising. It doesn't work on me, so I don't use it on other people. That's a cardinal rule of mine. I only use something or believe it works if I do it as a consumer.
2. Social media. Occasional tweets of Facebook announcements are fine. At most, once a week. Maybe once a day if you have a new release, but end it after a few days. Otherwise people get sick of you.
3. Publicity. I've already blogged that getting my name in the press doesn't lead to sales. You probably don't need a publicist.
4. Spamming. I have a newsletter, and use it a few times a year. I don't use it everytime I upload something new to Kindle. And I don't pimp my work on other peoples' blog or forums unless invited to do so, or there's a section for it.
I want to end this blog entry by telling writers: Don't Be Afraid. Yes, the future will be different. Yes, things will change. But there will always be a need for storytellers, and if you hold onto your rights, you'll be in a good position to exploit those rights no matter what the future holds.
There now. Don't you all feel better? I do!