Final Words from #Ninc14

Final Advice for Writers from #Ninc14
Novelists, Inc. Conference St. Pete Beach Oct. 2014

To summarize the concluding talks from #Ninc14, here are the final points.

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If you have a lifeboat or collaborative team, specify your goals. Is it to increase sales or readership, or to reach bestseller status?

Series or related books sell the best. Make the first one $.99 so it can be called a bestseller as opposed to free.

Check to see if you have some rights back if not all, i.e. Do you have the rights for non-US territories, audio, translation rights?

Hire translators from the United States and not from other countries. If you hire somebody from outside the US, you will have to pay them royalties.

Don’t get discouraged. Just get more material out there. It’s easy to get distracted and overwhelmed. Once you’re making money, hire people to do everything.

It’s the technology age and you have to do social media, whether or not it’s in your comfort zone.

Ask your readers what they prefer in how they buy books. Do they pre-order?

Don’t just dip your toes in the brave new world of self-publishing. Jump in naked.

Don’t make decisions based on fear. Make it based on your intuition. Know what you are good at and what you need help with. What does success mean to you?

Get your titles out there. They don’t all have to be full-length novels.

Ask your publishing partners these questions: What can you do better than anyone else? What do you think I do well? How could I do better? What skills can you contribute? What market intelligence do you have that we can use together? What information do I have that you need, and for what purpose? What’s the best way we can add value for each other?

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Note: Any errors in this article are due to my interpretation.

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Changes in Publishing: Who Will Survive?

Hugh Howey: The Publishing World is Changing. How Can You Keep Up?
Novelists, Inc. Conference Day 2, St. Pete Beach Oct. 2014

Hugh Howey began his presentation by showing slides on “A history of storytelling.” The order goes this way:

Oral tradition
Written tradition
The first cubicle workers, i.e. monks transcribing by hand
Movable type
Offset and digital in 1990
Electronic publishing 2007

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He recommends reading “The Storytelling Animal.”

Bar codes revolutionized sales in that data could be tracked. This led to massive discounting. In 1995, Amazon went live. In 2014, indie bookstores see a 20% growth in openings since 2007.

Book selling is like the game: scissors, paper, rock. You have the big-box chains, online retailers, and indie bookstores. Amazon beats the chains. Indies beat Amazon on their location, curation, and community. Publisher profits have risen, but digital is subsidizing print. Business costs and author royalties for digital are much less for publishers and their profit margin is up. So digital is saving publishers, and Amazon is saving indie bookstores.

There’s less downtime between reads for readers. They want immediate downloads. The guilt of the TBR pile is gone. Clutter is no longer a dissuasion for buying more books.

Digital includes e-books, audio, and print-on-demand books. “I can’t stress enough how crazy audio is, and that’s part of digital.”

Three variables determine author income: the number of titles sold, the price of the title, and the author royalty rate.

Romance is the bestselling book genre in terms of author earnings. Mysteries and thrillers are next.

Self-published royalties surpass traditionally published royalties. Digital is about 70% of the market. 40% of print sales now are on Amazon, not including print-on-demand.

The top 20 Amazon bestsellers in each category:
Mystery/thriller: 4 audio, 1 hardcover, 1 paperback, 14 e-books
Science fiction/fantasy: 5 audio, 15 e-books, no print
Romance: 20 e-books
Fiction/literature: 4 audio, 1 hardcover, 1 paperback, 14 e-books
History: 2 audio, 7 hardcover, 4 paperback, 7 e-books
Teen: 1 hardcover, 5 paperbacks, 14 e-books

Publishers are more profitable as the cost of production and distribution has gone to nearly zero. Big bookstores are going under while Indies take more of the market share. Expectation and output paths are converging, such as author platform and professional book production. The number of people making a living at writing has gone up from tenfold to fiftyfold. The chances are slim but it’s doable to make it as a writer.

Publishing is moving to the West Coast. Amazon, Google, and Apple will become prominent publishers along with other tech companies. Indie bookstores will survive. The real threat is the decline in recreational book reading.

Who will survive?
Publishers who pay well and price their books right
Retailers who curate well
Anyone who aids discoverability
Partners who increase distribution
Freelancers who raise quality
Toolmakers who increase quantity
Locales that create an addictive book culture

Note: Any errors in this article are due to my interpretation.

Coming Next: Empowering Authors with Amazon Independent Publishing

Novelists, Inc.

CONTEST ALERT! Win a $25 Amazon/BN gift card or free ebooks from Booklover’s Bench authors in our November contest: http://bookloversbench.com/contest/

 

The Future of Publishing, Part 2

Session Four: The Future of Publishing, Part 2
Novelists, Inc. Conference St. Pete Beach Oct. 2014

If you have a better sense of what you have going in to your career, you have a better chance of coming out where you want. You should have an audio book, because people are busy and commuting.

Globalization means growth in market places around the world. There is a huge global market for English language books.

What’s coming? Specialization of content, shorter content, fan fiction, micro-content. People are reading but not necessarily a novel. They read blogs, Facebook posts, and other material. We need to figure out how to monetize these things.

Another futuristic innovation might be micro-transactions where the reader clicks a button to send a dollar to an author. There will be more collaborative efforts like ACX, translations, and author collectives. Another trend might be personalization in how content is served. We need to be ready to embrace change and accept opportunities as they arise.

There’s a shift of empowerment toward authors because of technology. This is the slowest the change will go as it is right now. But you, the author, must continue to produce the very best book you can, or nothing else matters.

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What authors need is data about what readers want and where to find them. The Book Industry Study Group collects book data. How do we turn this data into usable information for our careers? New retail models are coming. The digital disruption is going to be very destructive. Agents may go away [or they can be useful for subsidiary rights]. On the other hand, things are changing and that’s frightening, but they’re going to move forward.

When will there be an “Authors United”? Authors should use their scale to push our issues.

Brick-and-mortar booksellers have a disadvantage when a hardcover sells for nearly $30 and an e-book sells for $9.99. Retailers are concerned about surviving this price differential.

Windowing your release dates is crazy because readers will buy books in all formats. Your book should be released at the same time in e-book, paperback and hardcover. These are not different audiences.

We haven’t seen peer retailing emerge, and we need to be prepared. People communicate around the world in E-commerce. We need to be ready to sell directly to readers and to analyze the data on discount sales and on what platforms people want to receive their books.

Check out Wattpad, Payhip and Hugh Howey’s authorearnings.com

Note: Any errors in this article are due to my interpretations. As many ideas flew back and forth during each session, I mention what I gleaned from the panels, and you can take from it whatever serves your needs.

So what trends do you predict? And how are you preparing for them?

See all of my Photos in the Ninc album on my Facebook Page 

Coming Next: BookBub

Rights for Authors

Session Three: Rights: Yours, Theirs and Ours
Novelists, Inc. Conference St. Pete Beach Oct. 2014

What will bring back the career authors who have more sales and control with indie publishing? “The job of the publisher is to provide the author with a platform. Print books are essential to this,” said one speaker. “It’s our job to help you amplify your voice to readers. Readers want to connect with the author. Finding a social media audience should be up to the publisher.” But another panelist said authors are often expected to show up with a platform.

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Publishers are reluctant to buy books previously indie published. There’s a price differential from a $2.99 indie e-book to a $7.99 e-book with a  traditional publisher, and readers balk at the difference. The customer is also different going from digital to bookstore. You’re selling to a completely different audience.

More transparency and true negotiations are needed to attract writers back to traditional publishing. What we need are term limits for authors to get their rights back. The out-of-print clauses for publishers are operated from a sense of fear that something they let go will take off and become a bestseller. Publishers need to brag about their good contract terms instead of being afraid of the competition. They need to show more transparency regarding the terms they offer.

It’s useless to get specific marketing promises from a publisher. Technology changes as you go along, and some of the activities promised may be based on sales figures. That type of legal detail is a waste of time and energy. But you should have these conversations outside of the contractual agreement.

Publishers are interested in what kind of future you, as the author, can project. They’re not interested in your backlist as much as your frontlist when they seek to acquire you.

The non-competition clause was discussed. Is it really necessary? Authors say it’s a career destroyer. They don’t believe they’ll cannibalize their own work as publishers fear. Publishers are worried about saturating the market. Print books need time to get into bookstores. They worry about quality control with self-published works that authors might offer in between traditionally published novels. Authors would love to be hybrids but not to the detriment of making a living if they can’t publish a new book for a certain number of months as per their contract.

The big five are pretty much not taking print rights only and letting authors keep their e-book rights. E-book royalties produce a huge profit margin for publishers.

Publishers are going to look at a successful indie author to see if she’s peaked. Could she benefit from transitioning to traditional publishing to pick up a new audience? You can’t assume your track record will carry over. It will not work for your backlist only. You need new books as well. How can the publisher use this backlist to carry you over from one world to another?

Regarding the 25% net royalty for e-books that is standard for traditional publishers—is the overhead in their fancy New York offices really necessary in the digital age? Publishers make a profit even before the author earns out an advance. Successful authors can still get a raise on their advances.

Note: Any errors in this article are due to my interpretations. As many ideas flew back and forth during each session, I mention what I gleaned from the panels, and you can take from it whatever serves your needs.

See all of my Photos in the Ninc album on my Facebook Page 

Coming Next: The Future of Publishing, Part 2

 

Pricing and Discoverability

Session Two: Yo! Here I am! Buy Me!
Novelists, Inc. Conference St. Pete Beach Oct. 2014

The general reader mindset changed with the advent of lower-priced, self-published books. One speaker encouraged higher prices than $.99. For that low price, he feels readers aren’t as vested and are more likely to give a lower rating. Also, the reader may not stick around to read a $.99 book as opposed to a higher priced book. Customers like lower prices, but that doesn’t mean they won’t pay more for what they perceive as value. Millions of customers are willing to pay as much as $15 per book. Traditional publishers can price lower and indie pubs can price higher. These two have to come together.

You can use pricing as a discovery tool. Price lower for your backlist titles or for one day as a marketing promotion. BookBub is where readers download free or cheap books to discover new authors. If a reader likes the book, they will buy other books by that author. The audience who subscribes to BookBub trusts them to offer books of a certain quality. Multi-author box sets can also drive discoverability. [Author’s Note: Also check out The Fussy Librarian]

So the $.99 deal is a great way to meet readers and get acquainted. Don’t feel you have to price every book as low as $2.99 or $3.99. You must have a pricing strategy. For example, make the first book permafree and price the others at a higher rate. Making the first book in your series free helps all your sales.

Kobo promotes the first free in series. They say an average of 54% of people who finish reading a book will go on to read more books by that author. Kobo curates the front-page material for their website.

Books in a series will sell better than standalones. But you don’t have to have books in a series per se if you can link them in a smart way. For example, one author had “the first kiss club” for clean, teen romance although each book is a standalone.

Your e-book is a living document, so put links in your new books to your backlist titles. The back matter is very important.

An average of 18 audio books is consumed by Audible subscribers in a year.

One speaker feels that subscription readers (for services such as Kindle Unlimited, Oyster, or Scribd) are a different market than readers who would buy your book.

It’s not easy for librarians to find indie authors on Overdrive. But another speaker said profits from the library market are relatively small compared to the retail market for successful indie authors. The following services were mentioned regarding libraries: Overdrive and BiblioBoard.

Lunch was served next, tempting us with deli sandwiches and an array of desserts. We had time to schmooze with friends before moving on to the afternoon panels.

Here I am with Ann Meier from Florida MWA and there’s Leanne Banks at the dessert table.

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See all of my Photos in the Ninc album on my Facebook Page

Note: Any errors in this article are due to my interpretations. As many ideas flew back and forth during each session, I will mention what I gleaned from the panels, and you can take from it whatever serves your needs.

 

The Future of Publishing, Part 1

Novelists, Inc. Conference St. Pete Beach Oct. 2014

The Novelists, Inc. (Ninc) conference is the only writers’ conference focused solely on the business of writing. To become a member, you must show proof of two published novels. This is not the place to promote your work, pitch to agents or pick up new fans. It’s primarily a learning experience. You go here to learn what’s new in the business, what’s to come, and how to approach the many aspects of running a small business in the publishing field.

Of course, meeting old friends and making new ones is the benefit of any conference and this gathering was no exception. People came from across the country, enjoying the perfect Florida weather and beachfront setting.

Photo 1: Nancy J. Cohen, Annette Mahon, Carole Nelson Douglas, Laura Resnick
Photo 2: Nancy J. Cohen, Terry Odell, Karla Darcy

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Photo 3: Donna Andrews, Carole Nelson Douglas, Nancy J. Cohen
Photo 4: Sophia Knightly and Nancy J. Cohen

Tradewinds Resort

First Word Thursday: The Future Of Publishing, Part 1

Any errors in this article are due to my interpretations. As many ideas flew back and forth during each session, I will mention what I gleaned from the panels, and you can take from it whatever serves your needs.

Nine industry guests discussed the partnerships between authors, publishers, and agents. Journalist Porter Anderson moderated.

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A partnership is a power relationship. Consider where the power lies in each transaction. Ask yourself what your skills are, what partners have complementary skills, and who has the scale to utilize these skills to your benefit. Partnership implies equality, but at the end of the day, it’s your business and what you, as the author, have created. You want partners who can connect your book with a wide audience in new ways. Also, know the financial health of your potential partners.

One speaker was concerned that companies with enormous “scale” had their own agendas. They focus on profits rather than on promoting each title in a sustainable way. Publishers are making more profits today and more margin on e-books even when they say they’re hurting. Incumbents like the Big 5 are the least likely to innovate.

As an author, try to retain as much control as possible. Allow for new avenues to explore but examine them from all angles. With the advent of new technologies, look for shorter terms in your contracts so these new models can be tested and evaluated.

The key to partnership is mutuality. Traditional publishers must be more willing to let their writers go, because once your titles go backlist, you lose the mutuality. Print on demand and e-book publishers should not keep a book in print unless the author is making real money.

Competition drives innovation. Google could become a viable competitor to Amazon.

The most important relationship an author has is with his readers. What you write has to connect with your readership. Write consistently. Target your audience and determine how to reach them. Continuance between the author and reader is important whatever the distribution route. Unfortunately, often authors talk to other authors and sell to other authors. Focus on your readers.

Bringing back the mid-list has been the biggest benefit of digital publishing. However, there’s a glut of writers out there, so the solution is to increase demand. Society and culture need to make reading a valuable pastime. Let kids read fun books instead of classics in school. Every one of us should be involved in turning people into readers. How to sell books in a sustainable way is a critical issue.

One of the keys to self-publishing is for bookstores to open to indie authors. The recent deal between bestselling author Barbara Freethy and Ingram is encouraging.

BookLamp analyzed the contents of a book and gave recommendations to readers based on the text. (This startup has been bought out by Apple.) Authors collectively have power and should ask more questions about their data.

A discussion came up on the pressure for authors to produce more and faster in the digital age. Quantity should not be versus quality.

The author on the panel spoke about how iBooks is her number one retailer. She is totally self-published. After taking years to write her first few books, she put them all up at once. Now she’s a self-sustainable, bestselling author. She has an international Street Team that helps spread the word about her books. Her encouraging words: “You can make a living without being a household name.”

What do international readers want? Amazon is starting to look at the translator marketplace.

Coming Next: Yo! Here I am! Buy me!

See all of my Photos in the Ninc album on my Facebook Page 

Contracts and Copyrights

“Brainstorming on the Beach” Conference with Novelists, Inc.

 Contracts and Copyrights                                                                                                                                        panel

Panelists:

David Forrer, Literary Agent

Alan Kaufman, Literary Attorney

Carly Phillips, NYT Bestselling Author

Deb Werksman, Editorial Manager, Sourcebooks

Donna Hayes, Publisher and CEO, Harlequin Enterprises

Chris Kenneally, Copyright Clearance Center

Al Zuckerman, Literary Agent and Founder of Writers House

Brenda Hiatt, Author

Here are my notes, keeping in mind this is what I heard and my interpretation.

Ad revenues surrounding e-books will increase.  For example, books will be sold on Google with ads surrounding them.  This will be new revenue to the publishers, and authors should share in it.  Publishers have to staff up their royalty departments. 

Regarding reserves against returns, one panelist believes they should not continue beyond two royalty periods. A book having ongoing sales a year or more after it was published should not have reserves held back. Another agent agreed that if there are ongoing sales above the advance, there should no longer be reserves.

Editors defended their reserves policies. One editor said backlist books are out there for a long time.  50% sell-through is considered a success in mass-market, but there are still going to be returns.  Trade paperbacks can be returned at any time.

Regarding piracy, is it cannibalizing book sales, or would those readers not have bought the book anyway?  One way to combat piracy is through education.  Mention it in your blogs and on your website.  You should let people know, those who feel entitled to getting whatever they want off the Internet, that information is valuable and it is not free. Another solution is to write to the advertisers on pirate sites and alert them to violations.

One panelist said she thinks the used book marketplace as we know it will go away.  If publishers price eBooks reasonably, legitimate readers will buy them. 

What about the issue of returns?  Why are we still doing them at all?  Because booksellers won’t stock the books otherwise.  There have been attempts to launch imprints without returns, but the experiments failed.  Booksellers demand return policies.  There have even been eBook returns when a customer clicks on the wrong book or downloads the wrong format.

Reversion of rights and the definition of a book being in print entered the conversation.  We should try to restrict this clause to trade editions, English-language editions, or a dollar amount like $250 sold over two royalty periods.  You could also try to narrow this clause by saying the book is considered to be in print if 300 copies are sold electronically within two royalty periods.  Publishers want to hold onto your rights and they will do so forever because of the clause “in any form whatsoever” as defining a book in print. 

A similar phrase to watch out for is when a book is considered to be in print “in any format now or yet to be invented.”  This is a sticky issue today as publishers are trying to grab whatever rights they can. “They have a huge challenge coming up and are running scared.”

According to one panelist, the most important rights to keep are your foreign and film rights.  Try for a movie bonus in your contract, i.e. you get extra money if your book is optioned.  Try to get an audio rights reversion clause for six months or later so if the publisher does not exercise these subrights within the specified amount of time, the audio rights revert to the author.  50% of net is a good deal for audio rights.

Also try for a Look Back clause regarding eBook royalties.  For example, after three years, you can renegotiate your royalty rate. 

The advantage of digital first pubs: no advance but a higher royalty rate. The size of the eBook market is equivalent to 67% of mass-market sales or 55% of hardcover sales.  The Book Industry Study Group is looking to measure data but Walmart, for example, doesn’t report to them.

Copyright will be more important than anything in the future.

Some publishers are sticking a morals clause in contracts now.  This means the publisher can cancel the contract if the author behaves in an immoral manner.  Try to cross this one out.

And a final quote: “If you’re confused, you’re beginning to understand the problem.”

Panel on eBooks is coming next.

And check my Contest page for new info!

PROMOTIONAL TEAMWORK

THE FUTURE OF PUBLISHING at Brainstorming on the Beach, Novelists, Inc. conference

Thursday, October 7, 2010

This day was entirely devoted to The Future of Publishing and was open to all writers. Impressive speakers spoke to us about what’s new and what’s coming in the publishing industry. The first panel’s topic was Promotional Teamwork. Here are my notes, keeping in mind this is what I heard and my interpretation.

 PANEL ON PROMOTIONAL TEAMWORK

Speakers:

Eileen Fallon, Literary Agent

Brian O’Leary, Magellan Media Partners

Joan Schulhafer, Publishing and Media Consulting

Shannon Aviles, More Than Publicity

Kay Hooper, NYT Bestselling Author

Carolyn Pittis, Senior VP, Global Author Services, HarperCollins

Linda Parks, Co-Owner, Fireside Books

Loriana Sacilotto, Executive VP, Editorial & Global Strategy, Harlequin Enterprises

Joan: “The train has left the station,” meaning we’re all published authors and we have the choice of many destinations. We cannot let uncertainty about the future paralyze us in terms of what to do for promo. Determine who is your target audience and what you will send them in terms of printed materials. Communicate your plans to your publisher but be careful not to create more work for them. “Every time you have a request or idea, it creates work.” So be realistic in your expectations.

Loriana: Harlequin believes in building authors into their own brand. They hold weekly sessions regarding digital media and social networking. “Write consistently what you write best” to build your brand.  Print and ebook sales should be looked at together. Publishers should ask, how is this book selling in each format?  Bestseller lists still influence readers, distribution and discounts.  Is there an alternate way to measure success other than the bestseller lists?  How about total sales and the value of the backlist? 

Carolyn: Review copies still sell books today but we need more book recommendation tools.  Word of mouth hasn’t met technology yet.  Think about who your promo activities are geared toward. Also consider the cost of your various promo efforts, i.e. “For this dollar, I get less or more.”  Everything online is measurable.  Co-op used to be the major marketing expense for publishers, but things are shifting.  Independent booksellers still have tremendous influence.  A big shift is coming in retailing.  Google will allow indies to sell eBooks competitively with Amazon, etc.  As consumers use more eReader devices, indies can leverage their connections with readers.

The market is booming overseas for English language genre fiction, i.e. vampire romance, thrillers. There’s a huge demand in India and Muslim countries in particular. Growing and developing technology in eBook formats, metadata, etc. will increase among pubs.  “You can connect with your readers around the world.  That’s where the growth is.”  This growth surge will help combat book piracy.

Shannon: “Eastern Europe is in an upswing as are China, Scandinavia, Central/South America” re demand for English language books. Driving it is the eBook biz, apps, handheld tech, integrated marketing, widgets, and enriched content.  Publishers have to recognize measurable numbers for eBook sales.

Linda: Send your book to the indie bookseller, not just a bookmark.  Make a connection with your local independent bookstore.  This will benefit both of you. 

Brian: Ads in PW and newspapers don’t sell books.  You want your brand to extend beyond what your publisher does for you.  Social media provide an on-going effort to build your reputation.  “Be visible and be searchable from the moment your book is published.” 

Kay: Consider the cost of social networking to your creativity. “You have to find your comfort level because the future is now.” 

Ninc has just begun a new newsletter, NINC BLAST, which includes information about our authors’ new and upcoming releases, as well as a “Did you know?” feature with tantalizing, little-known factoids about some of your favorite authors.  To subscribe to NINC BLAST, please go to our Website: <http://ninc.com/>   Then scroll down to the middle of the screen, where it says, “Let NINC BLAST you. ”  Simply click on the pale blue envelope, then follow the protocols.

Ninc Conference

“Brainstorming on the Beach” Conference with Novelists, Inc.

Tradewinds Resort

Wednesday, October 6, 2010

We checked in for the Novelists, Inc. conference at Tradewinds Resort in St. Pete Beach. In the lobby, I met authors Cynthia Thomason, Brenda Hiatt Barber, Thea Devine, Ruth Glick, Judy Fitzwater, Barbara Keiler, Annette Mahon, Patricia Rosemoor, and Mary Stella.  It’s great seeing people I haven’t met up with in a while and meeting new friends, especially folks I’ve only seen online. It’s always good to match a face with a name.

Consisting of multiple buildings, the Island Grand portion of the Tradewinds Resort occupies several acres and includes beachfront property, numerous pools, picturesque footbridges over meandering canals, swans, plus several restaurants and bars.  We went over to a tiki hut our first day.  I had a Trade Winds Sunrise, a mixed rum drink, and hubbie and I split a potato skins appetizer. We ate dinner later in Beef O’Grady’s sports bar, a noisy venue with a reasonably priced menu.  We watched the spectacular sunset over the water as the blazing tangerine orb sank into the horizon.           

pool

One of many pools

We had a standard suite, with a comfortable sitting area and a mini-kitchen separated from the bedroom and bathroom by a regular door. There are old-fashioned TVs in each room.  Shampoo, lotion, bar soap, conditioner are supplied. There’s a coffeemaker in the kitchen with packaged supplies. The staff are all very courteous throughout the place. Guests can get Starbucks coffee at a bar in the main lobby beginning at 6am.  Breakfast in the Bermudas dining room opens at 7am. My single complaint is that the soundproofing could be better in the rooms. I could hear outside noise through the doors/windows. Otherwise, it’s a lovely resort with many facilities and activities throughout the property.

beach

Beach

                                                   
swan

Swan

                                                           
tiki

Tiki Bar

                                                                
Sunset

Sunset

NinC Blast

Novelists, Inc. members include multi-published authors of all genres of popular fiction.  Ninc has just begun a new newsletter, NINC BLAST, which includes information about our authors’ new and upcoming releases, as well as a “Did you know?” feature with tantalizing, little-known factoids about some of your favorite authors.  To subscribe to NINC BLAST, please go to our Website: http://ninc.com/   Then scroll down to the middle of the screen, where it says, “Let NINC BLAST you. ”  Simply click on the pale blue envelope, then follow the protocols.

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