I just came across this post on the Bad Red Head Media Website that is owned by Rachel Thompson, aka 'Rachel In the OC', and thought THIS IS SO IMPORTANT, I must share it with every indie I know. SERIOUSLY. The question of pricing is one big one that every indie author has to face and most probably experiment with.
For most traditionally published authors, the game is a little bit different since they do not have a say in the pricing of the book, but for the indie, it is part their job responsibilities.
Written by Naomi Blackburn, owner of The Author CEO, a consultation firm dedicated to helping independent authors navigate the development of strategic business plans and the marketing world, this post shares vital information that every indie author has to at least think about. Here is what she says...
It’s all about the royalties!
Amazon has a two-level royalty structure that is solely based on book price. One of my favorite articles on the how and why of e-book pricing (including such things as loss leaders), is another oldie-but-goodie written by The Future of Ink. Take a deep look at this article when determining the genre of the book you are pricing. This author makes several great points regarding price points as well.
What are your peers’ prices?
This includes doing research into indie authors who write in the same genre, and are at the SAME point in their career and the SAME level of visibility as a recognized author name. For example, an indie author who has achieved status as being an award winner or is on one of the big bestseller lists is going to be able to price their e-books higher than someone who is just starting out or has not yet achieved that status.
I will never forget a client that I worked with several years ago when I first started Author CEO. She had written a memoir, wrapped up in a pseudo true crime story. My mouth hit the floor when I saw that she had priced her book at $9.99 on Amazon. When I discussed this topic with her, she became flabbergasted and insulted that I would even...READ FULL POST HERE...
For most traditionally published authors, the game is a little bit different since they do not have a say in the pricing of the book, but for the indie, it is part their job responsibilities.
Written by Naomi Blackburn, owner of The Author CEO, a consultation firm dedicated to helping independent authors navigate the development of strategic business plans and the marketing world, this post shares vital information that every indie author has to at least think about. Here is what she says...
It’s all about the royalties!
Amazon has a two-level royalty structure that is solely based on book price. One of my favorite articles on the how and why of e-book pricing (including such things as loss leaders), is another oldie-but-goodie written by The Future of Ink. Take a deep look at this article when determining the genre of the book you are pricing. This author makes several great points regarding price points as well.
What are your peers’ prices?
I will never forget a client that I worked with several years ago when I first started Author CEO. She had written a memoir, wrapped up in a pseudo true crime story. My mouth hit the floor when I saw that she had priced her book at $9.99 on Amazon. When I discussed this topic with her, she became flabbergasted and insulted that I would even...READ FULL POST HERE...
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