Monday, February 23, 2015

Monday's Links to Writing & Marketing Blog Posts

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 two-thirds of the market you've kissed goodbye. Also, "an author new to you" likely means that New York Times Bestseller that was adapted for a movie that starred Reese Witherspoon. Once you've sold a million copies, go ahead and sell at $5.99. Until then, be smart and sell at price points that appeal to the vast majority of readers.

Question: What's the most you have ever paid for an ebook for an author new to you?

. . . 

Read the full article HERE!

If you missed my writing & marketing tweets and retweets yesterday, here they are again:
  1. Technology and Writers - Hiveword Blog Organizing Chapters in Hiveword #writetip #amwriting
  2. 5 Key Elements for Successful Short Stories
  3. Fiction University: Balancing World Building and Pacing
  4. #FutureChat recap: Perceived differences between 'us' and 'them' | The Bookseller
  5. The eBook Author's Corner: Authors: Improve Your Twitter Messaging and Control
  6. The BEST Kindle Book Marketing Tip
  7. A Case Study on Trust as a Literary Theme - DIY MFA : DIY MFA
  8. Picking a Juicy Secret to Jazz Up Your Character - Writingeekery
  9. The Write Conversation : Why Your Writer’s Bio is Valuable Real Estate
  10. Insecure Writer's Support Group: Rewrite an Old Manuscript or Let it Die?
  11. Seven Things You Learn When Your Book Is Published -- Plus a Signed COMPULSION Giveaway
  12. Creating An Author Business Plan: Choosing Your Stories - Marcy Kennedy
  13. Helping Writers Become Authors - Write your best story. Change your life. Astound the world.
  14. New for Facebook Advertisers: Product Ads | Facebook for Business
  15. Pinterest bans all affiliate links, asks power users to monetize in other ways | VentureBeat
  16. Twitter Engagement-per-Post Has Grown by 85% Year-over-Year | Simply Measured
  17. Key 2015 Twitter Trends Every Marketer Needs - Heidi Cohen
  18. When Characters Have to Choose…. | Creative Writing with the Crimson League
  19. 3 Types Of Emails You Should Be Sending But Aren’t: The Social Scoop Issue 137 |
  20. Reveals Inaugural List For Digital Novella Publishing Program | GalleyCat
  21. Is “Love Conquers All” Realistic? | Jami Gold, Paranormal Author
  22. Novel Rocket: Why Would a Fiction Writer Write Non-Fiction?
  23. The Last of the Typewriter Men | The Passive Voice |
  24. 5 Ways to Make Your Blogging Life Easier : @ProBlogger
  25. What readers say about ebook prices | The Fussy Librarian
  26. How an Email Publisher Built an Audience of 223,991 Readers
  27. 33 Revenue Streams For Authors - Even If You Write Non-Fiction
  28. Schumpeter: Authorpreneurship | The Economist "To succeed these days, authors must be more businesslike than ever."
Happy writing and running, Kathy

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