By: The Fussy Librarian
Let's look at the one area that every author agonizes over -- pricing. Also known as: Are ebook readers cheap moochers who don't care if I eat ramen noodles for the rest of my life or are they willing to pay a reasonable price for this book that consumed two years and caused my children to resent me?
Question: What do you think is a fair price for a full novel in ebook format, that pays an author well, but remains affordable?
- All ebooks should be free: 6 percent
- 99 cents: 8.7 percent
- $1.99: 11.8 percent
- $2.99: 16.5 percent
- $3.99: 20.6 percent
- $4.99: 18 percent
- $5.99: 11.6 percent
- More than $5.99: 6.4 percent
Now, I think it's a mistake to look at this data and conclude, "Great, there are people willing to pay $4.99 and $5.99 for my book." You've written off 64% of readers if you do that. And that's not counting people who are turned off by the book synopsis or the cover
...or maybe they see one
of the "also- boughts" on your book's page and buy that book instead.
(It happens. I see it every day.)
You must maximize the potential pool of buyers for your book and that means 99 cents - $1.99 - $2.99. You also need to create urgency by discounting the book, preferably 50% or more. If you sell at regular price, many readers will think, "I can buy this anytime at this price." And they defer the purchase and, then, forget about it altogether.
I also asked the question, "What's the most you ever paid for an ebook for an author new to you?" More than 36% answered $5.99 or more. But don't get seduced by the Sirens! Again, there's
Question: What's the most you have ever paid for an ebook for an author new to you?
. . .
Read the full article HERE!
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