Friday, 14 November 2014

The ££Price££ Factor! My facts & figures.

Since self publishing I have messed about with my pricing structure.  I have offered free promotions and used the kindle countdown all to varied degrees of success.

I have just released my second full length book The Reckoning so for the release weekend I offered the first book The Awakening free.

The free promotion really took off & for the first time in ages I got into the charts reaching the dizzying heights of number 1 in the FREE Teen & YA Paranormal chart & 182 overall. Woo Hoo!!!

Overall 299 free copies were downloaded.  My hopes are that people will then go on to The Reckoning and I may get a few more reviews & adds to Goodreads TBR lists. However I have seen numerous debates about whether these free promotions actually work with some people suspecting that the free book will never actually get read!

Do you read free books you download?
Do you add to Goodreads?

The Reckoning has got of to a slow start with only 10 books downloaded at the full price of £1.92/$2.99.  I have therefore taken the decision to reduce the price to £0.77/$0.99 which is the lowest Amazon KDP will let you go.

Amazon KDP have 2 pricing structures with 70% royalty or 35% royalty.  If you want 70% royalty you have to price at $2.99 or above which is why a lot of books are around this price. I have however opted for the lower 35% royalty in the hope that I will sell more at the lower price.

Today is the first day of the low price so I'll see how it does over the weekend.

I have noticed that quite a few of the digi-print books with publishing houses like Carina start of with low price points to generate interest and good sales rankings.

I have today checked the bestseller list on my kindle and 31 out of 100 are priced at £0.99 or less.

Personally I think up to £2.99 for an ebook is a reasonable price but know being a new author I cannot expect anywhere near this price point.  For a paperback I used to pay around £3-6 depending on the book and store bought in.

I currently have several books on my wishlist but I refuse to buy them at what I consider an unreasonable price.  For example Seeing Other People by Mike Gayle is £9.99 and The Woman Who Stole My Life by Marian Keyes is £6.99 and Before You Die by Samantha Hayes is £4.72. I think these prices are ridiculously high for an ebook.

What do you think?
How much do you regularly spend on a single ebook?
What price would make you want to buy a book by a new author?

Thanks for reading.

Emma xxx



3 comments:

  1. This is a really interesting post, Emma. I'm coming up to self-publishing my debut novel and wondering what the best price to start off at should be. I'd like the 70% royalty but most of the ebooks I buy to read are priced at 99p. That doesn't mean I wouldn't spend more but I'm not prepared to spend as much on an ebook as I would on a paperback. I have definitely purchased other books by an author after reading one of their free promos. I have also decided not to after reading one of their free promos! If you're lucky enough to generate interest through a free promo in one of your other books, then I guess you can raise the price of your other books after that. You only really know by seeing what happens when you try it, I suppose. Good luck with The Awakening - I love the cover :)

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  2. Thank you Julie. It is tricky as the 70% royalty is everyone's aim but if it means you look too expensive no sales. I'm going to test the new low price for a while & see what happens. Good luck with your self pub :)

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  3. It all depends on how much I want the book. I recently paid £6 for an e-book, because I wanted it. That was still £4 cheaper than the paperback. I regularly pay £3-£5 for an ebook. Yes, I also download freebies, but they are put in a collection on my Kobo and every now and then, I read one. I only pop it on GR when I've read it.
    Oh - and I've paid £2.99 for a new author - and many have paid that for mine, too!

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