Tip #16: Set a Marketing Budget

This is something that needs to be set in advance. Make every effort to stick to your budget, especially if you have a family to support. Though you want to give your all to your writing endeavor, you also don’t want to put a strain on your family budget. There are a number of things I consider when setting my budget. Last year, I used my couponing to help me decide. I generally saved about $400 a month using coupons, so I kept my monthly marketing budget less than that. You might think $400 a month is quite a lot. Not really considering one sponsorship on Kindle Nation Daily or Pixel of Ink could run you almost $200. Plus, that $400 included all of my costs for publishing my books as well. That meant cover art, editing, review copies, and the CreateSpace pro plan. So publishing one book alone could potentially cost $400. I published eight books in 2011.

This year I’m going separate my profits. I’m going to let my Amazon money pay my household bills. The money I make from Smashwords, Barnes and Noble, and CreateSpace is what I’ll use for advertising, marketing, and publishing my next book. Of course, you don’t have to use the same model as I do, just have a plan so know where your money is going.