Thought I’d make this a separate post since iRR is now earning a non-trivial amount of money.
Here is the main way in which iReaderReview gets money –
- Associate income from Amazon (In Association with Amazon). Whenever someone clicks on a link on the site to go to Amazon and then buys something within a 24 hour window, iRR gets 4-10% of the amount spent.
- Kindle Edition books are not included – probably because Amazon is losing money on them (which no publisher will ever agree with even though they get a 35% cut of the list price i.e. 80-90% of kindle price).
There is a cookie that lasts 24 hrs. Also, anything put into the cart and bought within 60 days counts. However, if you visit today and buy something 3 days later that doesn’t count. I have no idea whether that’s fair and don’t really care.
I’m actually quite grateful since I don’t have to plead for donations, or put up stupid, ugly google ads or sell my visitors on products they might not need. There are tens of millions of Amazon associates and its a big reason for Amazon’s success.
How making money relates with the Site’s philosophy
The blog/site’s philosophy is to help people make smart decisions. Since the kindle is an exciting product, the transition in publishing is a huge change, and I feel some sort of connection with/responsilibity to people who bought a Kindle via this site or visit this site I also blog a lot about Kindle tips and free books and Kindle related stuff.
Along with this blog I run a few other blogs all centered around helping people make smart decisions and they make me money too. Since its customers who’re earning me money (and not advertisers or retailers) my responsibility and loyalty is always to my readers.
People have indicated that they’d like to support this blog by subscribing to the blog and I really appreciate the sentiment – at the moment I don’t need that support. The associate income is good and if you can get the blog for free choose that method.
The only reason I have to have the blog on the Kindle Store is to introduce it to a new audience.
I derive most of my inspiration and business model from MoneySavingExpert.com because its a really smart, well run site. Martin Lewis runs it, probably makes 3-4 million pounds amonth, and is probably going to be the first billionaire who got that way by helping people spend less. MSE has no ads, and neither do we.
They publicly disclose how they make money, and now that the income stream is non-trivial for me, I felt I would write about it to ensure it’s out in the open. There’s never going to be a ‘support us by buying from Amazon’ button or a ‘donation’ button because earnings in the course of the value the site provides are the only means worth focusing on.
Thanks for your support – writing for the blog is fun and never feels like work and every day responding to your comments and thoughts is one of the highlights.