One of the most common questions self-publishing authors ask is: “what’s the best price for my ebook?”
There’s no “right” answer. There’s only what works. You can and should experiment with prices.
The author of Damaged, Holly Ward (who writes under H.M. Ward), told Digital Book World that since the title was released on April 2 it has sold more than 150,000 copies (many of them at $3.99 — she dropped the price last week when she noticed her title climbing the Kindle best-seller list and wanted to see if she could push it to No. 1). In ten days, Van Dyken sold 85,000 copies of The Bet – that was as of early last week and she’s surely sold many more copies since then.
85,000 copies in just ten days… 🙂
Please don’t run away with the idea that you should price your ebooks (whether fiction or nonfiction) at 99 cents. Holly Ward had a good reason for doing it. She wanted to make #1, there was a good chance she could do it, and if she reached #1, there were lots of benefits.
If you’re not experimenting, and don’t have a good reason to price your ebooks at 99 cents, don’t do it. Note the “good reason”. A good reason, even if you’re a new author, would be that you’re doing lots of promotions, and want to kick your book along — you feel that you’ll reach higher in the rankings, if you price your book low for a certain time.
Here’s why you shouldn’t blithely set a 99 cent price point. Around six months ago, many new authors priced everything at 99 cents, which made readers wary. They started looking at all books by unrecognized authors which were priced at 99 cents as junk. That attitude is just a strong now, if not stronger.
You need to wait until you’ve established a readership (and as we’ve said, have a good reason), before you price at 99 cents.
Experimenting with prices is fine. You’ll discover what works for you, right now. The major publishing houses experiment with pricing constantly… Just over a year ago, the prices of bestselling books — both recent, and backlist books — from big publishers rolled up and down like yo-yos. At the time I was busy glomming onto the backlist of a popular author. Her books zoomed from $4.99 to $19.99. I thought my eyeballs would bleed from the change in altitude.
Your takeaway: prices are never set in stone. You can experiment, so do it. 🙂
Want more info?
Read Grab Control of Kindle Self-Publishing TODAY. The programs I talk about in that article will help. They’ll make you much more confident in pricing your ebooks.
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