Last week we discussed the idea of giving your book away for free. This week I thought we would actually talk about pricing. We all know the frustration of having a book on the market that isn’t selling. It’s very easy to get disheartened—but sometimes it just comes down to finding a sweet spot? What’s that? The right price for the market. That’s what it is…
Test Your Pricing
If you are looking for a sweet spot you will want to experiment. Try reducing your eBook price by .50 cents every three days until you reach $0.99. Wait three days, and then raise your price in .50 cent increments up to say $6.99. If you see an increase in sales at a certain price, repeat the same exercise again to check if the same pattern occurs. If you don’t see enough sales to form a conclusion, try again with a longer frequency of perhaps five days.
Raising Your price?
This may sound strange if you are struggling with sales, but a higher price can work on two fronts. One, a higher price often gives a potential buyer the sense of a better eBook and secondly, sales at a higher price will increase your ranking much faster.
Sacrifice…. For Gain
If you have published a series, sacrifice the price of the first book in the series at say, $0.99 to bring in new readers, and then set each subsequent title in steps of $1.00 more up to say, $4.99 for the latest title in the series.
Raise The Paperback
Did you know that Amazon compares the price of the paperback version with the Kindle version on its book sales page by putting a strikethrough line across the print book price above the Kindle price. It makes it look like a discount. So, why not make it look like a bigger discount? How could this hurt anyway?