Note: this piece is geared toward writers interested in self-publishing. Find other pieces on self-publishing here.
When you’re getting ready to upload your formatted masterpiece to whichever platform(s) you’re selling on, you’ll come across one tricky question: what will your book be priced at?
Finding the right price for your book might take a little research and experimentation. To take some of the guesswork out of the process, I’ve got a couple points for you to take into consideration.
Make Sure Your Price is Competitive and Appropriate
- Do a little research: check out other books in your genre/niche. How long are they in comparison to your book? What do their ratings look like? See what they’re charging, then price yours in the same ballpark.
- Keep in mind that, if you’re a new author, it might be hard to get readers who haven’t heard of you to buy your book if it’s overpriced.
- Ultimately, charge enough to communicate the value of your work, but don’t charge so much as to scare readers away.
Should You Consider Putting Your Book on Sale?
- Some authors benefit from putting their books on sale from time to time (knocking an ebook down to 99 cents – or free – for a day or two to drive downloads/purchases/exposure to new readers).
- On the other hand, some authors rarely ever put their books on sale because they believe it teaches their audience to WAIT to purchase until the book goes on sale.
- The bottom line here is: decide what works for you! Running promotions/sales may help grow your readership and audience. However, you don’t want to set a precedent that you might regret down the road.
What About the Perma-Free Funnel?
- Many self-published authors make use of the perma-free “funnel” where the first book in a series/collection is permanently free (or just one book in an author’s body of work if they don’t have a series). The theory is that readers, once they’ve completed the first book, will be “funneled” toward buying other books from the author if they enjoyed the free one.
- This method sometimes pays off, earning more readers and more sales. But sometimes it doesn’t. Again, make sure that you do what is right for you and what you think will pay off in terms of gaining new readers/fans.
- Keep in mind that, since you’re an indie author, you get to decide how much your book is priced at at any given time!
- YOU’RE in charge! So play around with different price points, run some sales (or don’t!), and consider giving the perma-free model a spin. See what works best for you and run with it!
Have any pricing-related questions? Any thoughts? Let me know in the comments below!