I'm pretty sure these people mean well, but I'd be very cautious listening to their advice.
Generally speaking if it's fiction then it's indeed a good idea to lower the price, but going with the trends isn't always going to be a good idea. A lot of people leave tons of money on the table because they don't test higher prices. As for the KDP tool, forget about it. It's useless.
People from GoodReads are some of the worst readers and customers. They will criticize you to no end, especially as a self-published author. I consider this site a huge waste of time and never heard of anyone who's had any success with it.
Are you talking about the new KDP paperback program? If so, I'm not sure why you'd use it. Use Createspace instead. It's Amazon's company, too and they have a wider reach.
Oh man, if you want to use Amazon's tool for your book cover, you might as well give up now. Self-published authors are getting more and more professional. How likely do you think you'll be able to compete with your DIY cover with people who invest in professional cover design? It doesn't even have to be that expensive; I pay $50 for every cover and people love my covers. Don't forget that you're also competing with traditional publishing companies. They don't use Amazon's tool, either.
Like @Omni said, it's BS. As for KDP Select and free promo days, KDP Select isn't what it used to be. In some genres you'd make much more (or the same amount, but diversified over a few platforms) by going wide.
I've never paid much attention to keywords and my books still sell very well.
Maybe it applies more to fiction, but still, what's MUCH more important is being visible on the bestseller lists and actually getting sales, not tweaking your keywords.
All in all, be careful listening to advice from people in this industry because you'll usually either get advice from misinformed artists without business sense (no disrespect, just stating the facts) or from shady Internet marketers who have little to no experience with writing and books in general.
The best way to learn from others is to find consistent bestselling authors in your genre and follow their practices. Once you get good at it, you'll be able to set trends yourself.
MTF,
Thanks for your advice. I've read it a few times. It helped me to make a few decisions, mainly to not underprice my book (it's non-fiction, a photo instruction book), and not to rely too heavily on Kindle Select to promote my book.
This morning I listed this book for sale on KDP for $4.99 and on the front and back inside matter I have prominently displayed a link for people to download a free eBook in exchange for their email address.
My other book is just listed on Amazon at $6.49 and I am trying to figure out the best way to promote it if I don't use Kindle Select.
I haven't sold a book yet, but it's early in the game. If nothing happens I might try Kindle Select or try and find another way to promote these books.
Your advice was really good. Just want to thank you for it.
Jeff
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