How Much Do I Charge?February 06, 2012
Source Credit for this post: (www.bloggingauthors.com)
1. Start with 50% off List Price as the basis for eBook price for Black-and-White books. If this new amount is above $9.95, Amazon will punish you by cutting your royalties in half thus all our eBooks are $9.95 or less, even for printed books with a list price of $29.95. In practice, this means our B&W eBooks are $7.95, $8.95, or $9.95.
2. Color books (for children mostly) are priced at $5.95 because they are shorter.
3. Magazines and Journals are $4.95. Although this may seem "pricey," our journals are 55,000 words so it is really not a lesser product than a book, other than its product-positioning.
4. Monographs and shorts 2,000 to 10,000 words are priced at $2.99 because that is the lowest price that Amazon allows for maximum royalty (70%). A few very short articles are bargain-priced at $0.99
We do not participate in KDP Select program because we don't believe in monopoly marketing.
Amazon tracks free book "sales" separately for a ranking basis so even they know that a free book isn't as good as a paid copy.
2. Purchases are often made by emotions, especially non-necessities like books/eBooks. This is referred to impulse buying. Impulse buying is often determined by price - buying a 99 cent eBook rather than paying $9.99 gives justification of "saving" after the purchase.
Fiction writers can "bundle" their series, for e.g., sell three eBook titles for the price of two. If each eBook is priced at $9.99 then you would sell all three for $19.98. The buyer will perceive a bargain. For those that have only one eBook title then you could team up with another author and offer his or her eBook for free. The other author will do the same. More than likely each of you have a different social network therefore your eBook will be accessible to a whole new world in the sphere. Get the idea? (Granted, these ideas will only work if you are selling the eBooks on your own site but just because you have your book in Kindle or Nook format doesn't mean you can't market the eBooks from our own site.)
By-the-way, did you know majority of people don't really buy books based on price? They buy on value (and that means a really good book) and then rationalize the price they paid. But...you are saying...yes, I know there are those that want everything for dirt cheap or for free. Are those really the ones you want to spend your time and effort marketing to? They aren't going to buy your book anyway because they are looking for freebees so I say, price the eBooks at what you are worth. Is it 99 cents or is it $9.99 per eBook?
Irene Watson is the Managing Editor of Reader Views, where avid readers can find reviews of recently published books as well as read interviews with authors. Her team also provides author publicity and a variety of other services specific to writing and publishing books.