When I first started publishing my writing, I wasn’t concerned with how I was going to price my work. I was just excited if someone actually read it! In fact, my first published novel, Unforeseen Consequences, is now permafree because of that philosophy. (Truth be told, that book probably should be free. Not trying to beg compliments here. Just being brutally honest.)
Anyway, when I realized that being an author was about more than writing books, I dove into researching all aspects of the writing profession from author platforms to marketing books to – wait for it – pricing your novels. If you do your research about pricing your novel, you’ll come across a whole bunch of headache-inducing graphs indicating which book prices sell the best. That’s one (of many) ways to price your work. I’m here to offer you another way or at least a bit of guidance.
Newsletter marketing. The vast majority of my sales are the result of newsletter marketing. Not my own newsletter – not by a long shot. No, I’m referring to professional newsletters such as choosy bookworm, the fussy librarian, book bub (although they like to snub me), etc. One requirement for nearly every newsletter worth its cost is sales point. Your book needs to be at least 50% off or free to feature. Personally, I don’t like giving my work away for free. It kind of offends me that people are willing to spend $ 4.50 for a Starbucks coffee but rail against spending more than 99 cents for a book. But a good bargain? Now that’s something I believe in. I now price all of my books higher than $1.99 to ensure I can use the majority of the commercial newsletter services without giving it away for free.
Amazon ads. Being totally honest, Amazon is the reason I started writing this blog. I went to KDP to start a new advertising campaign (I’ve been experimenting with several) and discovered I couldn’t make a campaign for Never Trust a Skinny Cupcake Baker because of its original price point. To be honest, I’m not sure if Amazon ads are worth it yet, but I’d like to at least have the option. (Stay tuned for more on Amazon ads. I’m currently running an expensive ad and watching the result with bated breath.)
Better bargains = more sales. One thing that is painfully obvious to most marketing gurus is that the larger the discount, the higher the sales. In my experience, this is true of eBook sales as well. My books that are priced above $2.50 make more sales when discounted to 99 cents than my books priced at $1.99.
Well, that’s my 2 cents worth of advice today. Go forth and sell some books!