I read a great post about pricing your Ebooks.
Publishing Advice: 12 Top Tips on Setting Ebook Prices by Debbie Young
It gives a broad overview of price points for novels and the psychology behind $.99 price endings.
What to consider when pricing your book. These include:
- Perceived Value which is a comparison for the type of book your are writing and how much comparable books in your category are selling for. While doing case studies is a great indicator for ebook market conditions, there are many, many different reasons why books sell at .99 and 7.99.
- Borrows. When amazon changed their Kindle Unlimited and KOLL (lending library) payouts from 10% read to pages read authors were up in arms. Short stories were no longer as lucrative under the loan model as novels with more pages. As self-publishers we can write what we want, then determine how to market it for the best return. (This includes who we distribute thorough for the best return.)
- Pricing for what your worth. Authors work hard on their art and the value we see in ourselves is not often achieved right out the gate. While we want to be in the same price range, this is truly an individual sport. Just because another writer values their book at X, it should not affect the value you have on your work.
While there is no right or wrong way to determine price for your books, first time authors – Do not to play the numbers game so much that it reigns in your creativity.
Fellow author Jane Steen said it best:
Learn to “see” the point where the book is as good as you, at your current stage of development as a writer, are going to get it (don’t compare yourself to the top writers in your genre). Then get the best editor and cover design you can afford, and push that Publish button–then don’t look back. Write the next book.
The Numbers Game
- Don’t price your book at $.99 because you have seen others do it that way
- Do price your book at $.99 because you have a planned out marketing strategy for your book that may or may not include a promotion to get your name out there.
- Don’t price your book at $7.99 because that’s what people pay for traditionally published books
- Do price your book at $7.99 because your in a niche market and have proven value and sustainability at this price point
- Don’t commit to write three novellas because novellas are hot right now and can sell at a lower price point.
- Do commit to write three novellas because you love shorter length works and that is what you want to write at this point in your career.
- Don’t write serials because it’s the new fad and another author is making money with that model
- Do write serials because it’s a model you hadn’t considered before and you love Y&R. You know the format and could rock it.
At the end of the day, there is literally no right answer. We all have to find our own way to success.
Have you gotten burned by playing the numbers game? Or does the numbers game work for you?