Considerations When Pricing Your Book

money_800x200

I came across this publishing article the other day on things to consider when pricing your book. A useful read that goes over some of the basics to help you make your decision.

The entire time I’ve been writing my first book, I never considered selling the finished product at less than £1.99 on the kindle store, purely so I could reach that 70% royalty sweet spot. Recently though, I’ve been thinking that pricing my book at £0.99 would be a better decision. Even though it means dropping down to the 35% royalty option and no doubt making a lot less money, the lower barrier to entry would introduce more people to my work. Once I have a few books out at the low price point and have proved I’m a competent author worth taking a risk on, then I can start taking advantage of the 70% royalty rate.

I’m not Mr Business from The Business School of Business or anything, but it seems like a smart decision long term. At least for anyone planning to write quickly and release a few books each year like me. Negatively though, it does make the dream of writing for a living seem even further away than it already is. But hey, life is a marathon not a sprint, as Eddie Izzard admirably demonstrated recently.


© 2016, Gavin Zanker. Licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

Photo by 401(K) 2012 licensed under Creative Commons Attribution-ShareAlike 2.0 Generic.

Advertisements

3 comments

  1. You really need to go to the kboards Writer’s Cafe and read a lot of posts about marketing before you make that kind of decision. There are so many considerations that you need to take into account.

    Are you planning on doing promotions? How often will you publish? Are you building an email list? What are other books in your genre selling for?

    The answers to all four of those questions have a big impact on your ideal price point.

    Liked by 1 person

    1. I agree it’s very complicated and has a lot of variables. In the last week alone I’ve seen arguments for just about every price point, including using different prices for UK and US markets. I think as long as you research and set a particular price for deliberate reasons, then you’ll have some useful data to work from.

      Thanks for the advice, I’ll check out the kboards writer’s cafe like you suggested.

      Liked by 1 person

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s