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 Pricing Your E-Book

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EricFox




Number of posts : 9
Registration date : 2012-03-07
Location : Texas

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PostSubject: Pricing Your E-Book   Pricing Your E-Book EmptySun Mar 25, 2012 4:54 pm

I would like to get everyone's thought on how a new author with his first published book should price it as an eBook. My book is only 40,000 words. Now I've heard on some forums and blogs that $2.99 is a good starting price for your first book. Other sites have said $0.99. Well, I started the price of my book at $3.99 two months ago when I published but only got 10 sales from family and friends. So I wondered if I was pricing my book too high. Now I've lowered it to $2.99. I'm afraid if I lower to $0.99 a lot of people may think it's not a well written/entertaining book for the audience I'm trying to reach which is Science Fiction.

And I admit I'm new at this whole thing and my first book may not be the best but I have had it looked over/edited twice. Regardless, I'm wondering if $2.99 is still too high. Your thoughts?

Eric Fox
http://www.thechroniclesofsilverwolf.com
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dkchristi
Five Star Member
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dkchristi


Number of posts : 8594
Registration date : 2008-12-29
Location : Florida

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PostSubject: Re: Pricing Your E-Book   Pricing Your E-Book EmptySun Mar 25, 2012 5:08 pm

My experience with pricing is that people want ebooks for free. Then, they want them for $.99 and then, perhaps $2.99. Anything over that needs to be a name author or an author with following already. Without promotion and a following the price difference from $2.99 to $3.99 won't make any difference. $2.99 seems to be a popular price for small novels.

I've sold a lot of Ghost Orchid at $4.99; but it has a small press publisher and a bit of a following. The print copy is $11.99 to $14.95; so the $4.99 ebook price (often discounted to $4.10) is an improvement.

I priced a 500 page novel at $2.99 and sold very few at that price. I had stopped promotions on that book. The print copy ranged from $5 to $35.00.
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Victor D. Lopez
Four Star Member
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Victor D. Lopez


Number of posts : 984
Registration date : 2012-02-01
Location : New York

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PostSubject: Re: Pricing Your E-Book   Pricing Your E-Book EmptyThu May 10, 2012 9:31 am

I've experimented with different prices and found that there is no real difference as to sales. I agree with D.K. that most readers want free books and $.99 books. Given the glut of free books, fewer readers are likely to take a chance on an author they do not know if they have to pay anything--let alone anything above $.99. Of my three books, my non-fiction intellectual property book has always sold the best, if modestly with no advertisement on my part. It is the most expensive by far at $6.99 for the Kindle version and $16.99 for the soft cover version. My fiction and poetry are priced at $2.99 and $1.99 respectively. I've written and published extensively in law but not in fiction or poetry, though I have been writing both for nearly four decades. Sales are much more closely linked to promotion/advertising than anything else for new authors in my limited experience. (My first seven books, all non-fiction, were published through traditional publishers and I am most likely to return to that route in the future as I am unwilling to do the promotion of my work myself.)
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Shelagh
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Shelagh


Number of posts : 12662
Registration date : 2008-01-11
Location : UK

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PostSubject: Re: Pricing Your E-Book   Pricing Your E-Book EmptyThu May 10, 2012 1:28 pm

When pricing your ebook for Kindle, you have to estimate how many copies you think you might sell, irrespective of the price. If you think that the amount of marketing you are able/willing to do will only bring about 100 sales, then you have to decide if those sales are more likely with the 70% royalty rate or the 35% royalty rate. At 99c (35% royalty rate), you would have to sell six times as many ebooks as those priced at $2.99 (70% royalty rate). Then re-assess your estimate. Would it be easier to sell 17 ebooks at $2.99 than 100 ebooks at $0.99?

100 x 35% of 99c = 35c x 100 = $35

17 x 70% of $2.99 = $2.10 x 17 = $35.70

If you give away hundreds of free copies, making big sales of paid-for books isn't necessary; you've already reached a larger audience than you would have done through paid-for sales. Selling fewer for more may seem the better option.
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