How do I price my ebook? This is one of the most asked questions. Although different authors have different strategies, this article will look at the common strategies that can help you sell your ebook and attract sales.
The best price for an ebook depends on factors such as:
- Goals of the ebook
- Market niche where you plan to sell it
- What other authors of the same genre of books charge
Goals for the ebook
The first thing an author needs to contemplate is why are they writing the book? The pricing of your content will be determined by what you want to accomplish. Some authors write content to lure readers to buy something from their sites. In such a case, you might need to offer a free book to convince readers to buy a more expensive product.
Market Niche where you plan to sell the ebook or kindle
There are various approaches for selling ebooks. When you decide to sell on your website, you book would cost different compared to when you sell on sites such as Amazon with various programs. You can also sell it on mass platforms where other dozens of books are sold.
Look at what other authors of the same genre of books charge
First, it is important to learn that you do not have the price the same as other authors. But, its pays to know how the same others with your genre or content offer especially if your book will also feature in the other sites alongside your competitor’s books. If you are working on a fifty-page book and intending to sell it at $30 while other authors are also selling something similar to the same length at $3, you will not see many sales if the two are being sold on the same platform. However, if you are selling from your site, you might have the freedom to control pricing without considering the competition in the market. If you look at Amazon, you will see that the most bestseller ebooks have a price ranging from $3 to $7. The lower the price, the more you are likely to sell.
You need to understand that lower pricing expand the audience, and that translates to better revenues. Pricing is one of the ways that authors get an entry level in the market. When you have a bigger audience, you are likely to get better revenues. However, content with small audiences would attract a higher price to break even.
People that already have an audience and reputation can always sell content at their set price because they sell the authority more than the ebook itself. If you offer unique content regularly, people would not mind buying your content at whatever price.