Publishing Stuff I: Lets talk about ebook pricing

Someone posted on my Facebook wall a few weeks ago and asked me to post about my writing and publishing process since I work (or worked) with small, independent publishers, big traditional publishers, and I self-publish and tend to publish multiple titles a year. So, I figured today was a good day to start talking about publishing and stuff.

 

First a disclaimer:

My first book was published in 2011. Since then, I’ve had close to 40 (give or take a few) books published through multiple methods. I am but a flash in the pan in the big scheme of things. Even with my experience, I’m still not the best person to dispense advice. I mean, I know some things. I pay attention. I educate myself. I never make assumptions when it comes to publishing or different types of publishing. But there are authors out there doing this thing for DECADES. Decades, people. I’m still just a baby at this, and that’s something to keep in mind when an author has only a handful of books or a handful of years and are speaking from a place of authority. Even if someone has a ton of success in a short period of time doesn’t mean they’re the disembodied voice of the publishing gods. Success is a strange, fickle beast, and it does not always mean someone is well-experienced.

And a second disclaimer:

There may be typos in here. I’m human.

 

So, if for whatever reason you still want to hear me talk about publishing after knowing that I’m basically entering kindergarten level of publishing, then by all means, please continue.

Let’s talk about pricing of books.

Did you know that average ebook prices have jumped from 30% to 60% in 2015? Or that the average price of ebooks has nearly doubled? Mostly on the traditional publishing side and probably (now this is a bit of an assumption) having to do with limited shelf space for print books and overall reduction in print runs.

I’m not making that info up. Its actual research done that easily findable on Google. Anyway, according to DBW, the average ebook on a bestseller’s list are priced $7-$8 buckaroos. That’s a range of several weeks. The days of pricing your full-length book at .99 cents and a 1.99 to hit a list (come on, let’s not pretend that wasn’t happening) are long, long gone.

Now that may seem like too much for a digital book. We can almost already hear the chorus of people shouting I never pay above XYZ for an ebook. That’s cool. I mean, there are only two or three authors that I will pay above $10 for an ebook. And when I do, I have no regrets about this. Nor do I think it’s overinflated of a price. Why? Because typically ebooks that are priced that high or either:

 

A traditionally published ebook that is releasing simultaneously with a hardcover/paperback that CANNOT (the print book) cost significantly more upon release .

Why does that matter? Because you CANNOT undercut the physical copy by offering a super cheap ebook. Why would any store carry a book and attempt to sell it when an ebook costs only a few dollars? Book sellers keep an eye on these things. Why would sales teams bust their behinds (and they do) to get a store to carry a book in stock if they know that they ebook is going to be so much cheaper that all the sales are going to slide that way? I know that there are people who believe print is dead. It’s not.
A TON of money goes into distributing a traditional book and even sometimes small press book. Sales reps. Marketers. Advertisers. Shipping. Stocking. Off set printing (opposite of print on demand). Purchasing end caps. Purchasing towers.
When books are published by a publishing house, there is a very large team of people typically involved and all of them like to get paid. Editor. Assistant to your editor. Senior Editor. Copy editors. Proofers. Formatters. Cover designers. Publicist. Head of Publicity. Marketing team. Sales reps. These are all teams of people who work directly on your book. An author may never speak to half of them. Sometimes you do. But they are there.


The book is millions of years’ old or some obscure non-fiction title

I have no idea why that effects ebook pricing, but if the book is as old as dirt or some random financial book written in the 80s, then you’ll see some high prices.


Publishing is a business

It’s a business. People are trying to make money. And when more people are involved, of course, they are trying to make enough money that the whole process makes sense.

 

That info above is important, because I remember way back when (only a few years ago), it was unheard of to see a digital book priced below $9.99. Oftentimes, the digital and print (paperback) were the same price. Maybe because I remember this, paying $7 or $9 for a ebook here or there doesn’t shock me.

Self-publishing revolutionized ebook pricing. I mean, I think it did and a lot of people did. Which is an amazing thing. For a lot of readers, high prices cut them completely out of the market. Not only did it expand the market, it also forced publishers to start looking more closely at their prices. Indies are no longer the only ones selling brand spanking new books for less than a value meal at a fast food joint. More readers means more authors means more books. LOTS OF BOOKS about LOTS OF DIFFERENT THINGS. Gatekeepers don’t have as much influence. Books that the status quo said there was no market for found their markets and did so without having to cringe when typing in the credit card info.

And then there is the downside of this.

Cheap ebook prices have begun cannibalizing print sales and losing print is not good for the overall market. Very few people in any form of publishing would be happy with that happening. Books are expected to be cheap and then even cheaper until an author is making about .30 cents per full-length book. Which you’d have to sell a crapton of .99 cent books to make a decent income. The value of a book has gone down. The value of the work that goes into a book has gone down. Authors find themselves pressured to continuously lower the price of their books or find themselves justifying why their book is above a certain price point. The market oversaturates, and while a lot of options is not necessarily a bad thing, it can be a tough thing for the creators of that market.

What has happened in publishing is a lot like what has happened to the housing market. Authors/publishers are the sellers and the readers are the buyers. It’s a buyers’ market.

Which to readers isn’t a bad thing. At least for now. Let’s hope it stays that way.

So all of this rambling nonsense brings me to some important points about pricing for authors and/or readers:

What is the value of an ebook?

I don’t have an answer for that. No one really does. But let me tell you what goes into writing a book for me. It’s probably the same for a lot of authors. The average book for me is around 90k to 105k words, sometimes more. It can take me anywhere from a month and a half to three months to write a book. That is typically 7 days a week where I am writing about 8 to 10 hours a day, sometimes more and sometimes less. At any given point during the writing process, I hate everything about the book, about me, about the characters, about my house, about the plot, and about everyone I know. At any given point during the writing process, I love everything and everyone and everything is made of unicorn farts. Just like any job at there, there’s a ton of ups and downs, and like any other job out there, it takes time away from family, from loved ones, and from doing whatever you want to do. Writing is like any other job. And after I finish one book, I start another. It’s not a 3mths out of the year kind of job. I hope that all that work and time is worth more than $4.99, but it is hard to put a price on that work. Those who read me know I have books that range all over the price scale. Sometimes I don’t even control that price to a certain extent.

Is there a cost to an ebook?

For some reason, there’s this belief that hitting publish on an ebook doesn’t cost anything. I think that comes from the fact that an ebook is not a tangible, hold in your hands thing. But yes, besides all the stuff listed in the point above, that book needs to be (and SHOULD BE) editing by a professional, then line edited/copy edited buy a professional, and then proofed. There will probably still be an odd typo here or there or things that are thought to be typos but aren’t. There is the cost of a cover design. Then there are costs of marketing and advertising this book. This goes for traditional and indie. It does not cost nothing to publish an ebook.

What should I price my ebook at if I’m indie?

Don’t look at me or really any one author in particular for that advice. Do some research. Go look at other books in your genre and page length/word count. Make sure you’re not undercutting yourself out the gate and setting expectations. Make sure you’re not pricing yourself out of the market. May I repeat this? Do not rely on authors to give you the best advice here. Do the leg work. Go to Amazon and B&N and look at the average prices. You may be surprised by what that is.

What about traditionally published books and small presses?

The publishers set that price, so please before getting shouty caps at an author for pricing, check to see who published it. They may not have had a say in this. HOWEVER I once did take a lower advance to get the publisher to sell the digital book at the lower price point, because I knew my readership was going to be like LOL at that price. BUT remember that stuff I listed way back up there? There’s a lot of money going into that book. And I didn’t even mention the fact that advances can play a role in pricing. But it can.

But Author Jane Doe said that an ebook shouldn’t be—

Ask yourself, is that author a household name that has been in the business for decades and pretty much can sell poop on paper for $25.00 and that poop covered ebook sells 100k copies in a week? No. Then no. Just nope. Like a bucket of nopes. What works for them is great. That does not mean you need to do it or that it will work for you. The same goes for a reader. One author or reader may never price a book below or above a certain price point. That’s them. Their way isn’t wrong. Their way also isn’t the standard. There is NO standard. The moment there is, that’s like a slippery slope of price fixing.

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Does pricing my ebook above XYZ mean I’m a sell out or not passionate enough?

Not passionate enough for what? To be able to pay your bills and put food on the table for your family? I’m sorry. Is there a land of free stuff that artists have access to that I’m unaware of? Creative content has always suffered from this idea that to be truly passionate about your work, you don’t do it for the money. Then by that same belief…. Doctors who are truly passionate about saving lives should be doing it for free. Or the cashier who truly loves their job should clock in for their 12 hour shift and not expect to get paid. You see where I’m going with that? Charging more than 2.99 doesn’t mean you’re a sell out, ripping people off, or not passionate. You’re trying to carve out a living during the work you love, just like anyone else out there.

But what if I only want to buy books priced under XYZ and this author charges above that?

That’s totes your choice and rightfully your choice. No one should side-eye you. They ain’t paying you, right? So they don’t get to determine what you can or choose to afford. BUT you can’t expect an author to price their book a certain way, indie or traditional. The best thing I can tell you is to subscribe to Book Bub, that author’s newspaper and their social media sites, because if their book is priced too high for you, it will likely go on sale eventually.

Pricing is a tricky beast to discuss between authors and readers. It’s kind of like talking about politics in a room full of strangers. Just remember, not all authors books are going to be priced the same and what someone may or may not pay may not be a reflection of what they think your book is worth. Everyone has something different that works for them.

In future posts I think I’ll talk about:

Traditional, Hybrid, Indie OH MY

Releasing multiple titles a year

PR and advertising companies

Signings and events

How to stop yourself from rocking in the corner

How to enjoy time rocking in the corner

Bestseller Lists

Author Friendships

Ghostwriting and Book Packaging (apparently an explanation that’s badly needed)

Final words: There is no one way or right way to publish a book. Every journey is different. And if you write, you’re an author. Embrace it, baby.

And don’t forget to sound off in the comments. Let people know what factors determine how much you pay or how much you charge?

The post Publishing Stuff I: Lets talk about ebook pricing appeared first on Jennifer L. Armentrout.