Pricing Your eBook
Nov 11, 2014
There are several misconceptions when it comes to pricing eBooks. By now, most (if not all) authors are acutely aware of the pros of having their book in digital format, especially given the popularity and success rate of titles like The Hunger Games and Fifty Shades of Grey in recent years.
What authors may struggle with is how to price their eBook. A good rule of thumb is to select a list price that’s half the price of the print book. For instance, if the list price on the physical book is $12.99, its eBook counterpart should not be more than $6.99. A common concern authors have is that a cheaper eBook price devalues their work, but this does not necessarily translate to the consumer. Although it may cost the author more to produce an eBook, once the initial cost is covered, they can theoretically sell millions of eBooks without incurring any additional cost.
Another important piece of advice for authors to keep in mind is which online bookstores they intend to sell their books on. For example, some retailers may have price restrictions dictating the range of prices for an eBook to fall within in order to receive maximum royalty payments. Anything lower or higher than that will result in them taking out a higher commission (which means less royalties in the author’s pocket).
There have also been studies that suggest that genre plays a significant role in eBook sales. It’s been said that generally fiction books sell best at lower prices, whereas nonfiction books sell better at slightly higher prices (although still in the $2.99 to $9.99 bracket for maximum royalties). This is because, for the most part, nonfiction books are deemed as problem solvers and add value to the reader’s life (think how-to books, diet books, etc.), while fiction books are generally considered to be more of an entertainment item.
Although these are not all the factors authors need to consider when pricing their eBook, they are a good starting point. At the end of it all, there’s no better driving force for sales than good content and great marketing.
Don’t miss our upcoming workshop “eBooks 101″ November 22, 2014 at 11 a.m. EST
Follow the link for more information and sign up today!https://www.booklogix.com/November_Workshops.html