No, I’m not giving away puppies. I’m talking about book pricing today. When I started publishing it was one of those many decisions that I had to make. You’d think that would be easy, but let me tell you this, it’s not. Other writers talk about the ‘sweet spot’ and then others tell about making the first book in all their series free. Well here goes some things I’ve found out during my publishing process.
By the way, this is not in anyway a rant, but the things I’ve figured out through my writing.
1: Do your homework? By this I mean go on a book site and check other books in your genre. Check the pricing of those that are the same length and same genre. Let me also remind you, those on bestseller lists can price a little higher and sell, if you’re not on the bestseller list you might want to aim your pricing arrow slightly lower, but don’t undersell yourself.
2: Beware of the freebie backlash. You might be wondering what I mean. Well as soon as you start offering your book for free you open up yourself to the ‘freebie reviewers’. For some reason as soon as your book goes free, the slashing starts. I’ve actually looked at several bestselling authors that put up some free books and they see the same kind of reviews after offering their books for free. This doesn’t mean don’t put them up for free, I’m just warning you first. Offering your first in a series is a great way to drive readers to your others in the series. Also offering other stand alones free for a time is a great promotional advantage.
3: The Even amount myth. I read an article about this over a year ago. The author said that everytime they post a even number price such as $1, $2, or even $3 their sells went down, but if they added .99 to said price sells went back up. Not sure why, but I’ve tried it and it does seem to work. Odd but true.
4: Don’t undersell yourself. I did this for so long, but have finally decided to stop doing it. Yes the numbers can be good when you sell your book for .99, but think about this, you may sell several at the lower price, but bump it up a couple of dollars and even though you may sell less, you will still see a higher profit. You’re worth it so go ahead and try it out.
5: Look at the length of your book. If you price your 5000 word book at 5.99, more than likely you’re not going to sell it. As I said in number 1, do your homework. Don’t over price your shorter books.
This is just some of the observations that I’ve made. You can try it or not, it’s entirely up to you. Just keep writing and put more out there.
As always, good writing and May God Bless you…