Deciding how to price an ebook (or book for that matter) is one of the most difficult decisions an author has to make. I won’t get into that today. Instead, I’m going to concentrate on your pre-release/new release price. Specifically, is pricing a pre-release/new release at a bargain price of 99 cents worth it? In my opinion, no. Here’s why.
In the first place, giving a pre-release a bargain price will lead to more pre-order sales. In my case, I usually have around 100 pre-orders with little to no marketing (newsletter only). But with my upcoming release, About Face, which is priced at 2.99, I only have about 40 pre-orders – and that’s with quite a bit of marketing.
Another advantage of pricing your pre-order at 99 cents is the ability to place the book in newsletter advertisements. Many of the bigger name newsletters, such as Ereader news, Book Gorilla, Bargain Booksy, etc., will only accept books if they are on sale. And that on sale price often has to be below $2.99.
Using the above tactics, I’ve been able to get my new releases into the top 100 of my category.
Considering these advantages, why in the world am I advocating to NOT price your ebook at 99 cents? It’s all about the money, money, money. That’s right. Money. On Amazon, which is where I get almost all of my sales, a 99 cent sale will only net me around 35 cents. Despite my sales spiking on release day and for a few days after, I have never been able to recover the money I spent on newsletter advertisements with sales.
So, this time around, I’m pricing my new release at $2.99. I’ll let you know how it works out.
This blog post is part of the #AuthorToolboxBlogHop. This is a monthly blog hop hosted by @raimeygallant. Make sure to stop by the other author blog posts in this month’s blog hop to fill up your author toolbox! Just click on the graphic to take you to the list.