You can improve your book cover, spend more on book marketing or even do a complete rewrite, but usually the easiest way to boost your book sales is to play around with your pricing. Most authors have experienced the horror that is writing a book that doesn’t sell. At a minimum it is discouraging. At it's worst is can be downright costly. Before you make any radical changes or give up on your writing career, make sure you experiment with the price of your book. Doing so requires very little effort. When you find the right price it can make all the difference. In this post we will discuss how to find the perfect price for your book.
How to Price Your Book for Sales and Marketing SuccessThink about when you go to the bookstore to look for a new book. You look through the shelves to find books that catch your attention. You look at the cover, read the description, and yes, check out the price. That final component, the price, can completely dictate if you buy the book or not. As authors we can’t always charge as much for our books as we want. This can be a very tough realization for new authors especially. It is very important for you to think about your book’s price as a component of your sales and marketing strategy. The wrong price will decrease your book sales considerably. Below are a few things to consider when pricing your books to sell.
What Do Similar Books Sell For?The first place to start when considering a price change for your book is to look at the price of similar books. It is important to consider the price of books within your genre, as well as books written by authors of similar popularity. Afterall, James Patterson and Stephen King can typically charge more than an independent author. You do not have to be the lowest priced book in comparison to similar titles, but do a quick check to make sure your price isn’t sticking out like a sore thumb.
Make Your eBook More AffordableDiscounting a physical book can be costly. There are built-in costs that have to be considered. Discounting an eBook is much easier to do. The costs related to creating and selling an eBook are much lower. In fact, many authors make money selling eBooks for a fraction of the price of their paperback or hardcover books. Your eBooks are a great place to start if you want to experiment with your prices. You can change the price of your eBooks instantaneously and tracking the results is extremely easy. A major eBook pricing mistake we see regularly is authors selling their eBook for the same price as their physical books. This strategy simply doesn’t make sense for a couple of reasons:
- An eBook doesn’t cost you the same amount as a physical book
- Not having a more affordable option decreases the size of your potential audience