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Other "Serious" Stuff > Let's talk about pricing!

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message 1: by Annie, The Mistress (new)

Annie Arcane (anniearcane) | 2365 comments Mod
Sooo, I've been thinking about this topic and...
description

I'm super duper interested in your opinions/insights/experiences on pricing ebooks. I've also whipped up some legit questions for those who prefer...umm...legit questions.

*smirks*

How did you superstars choose the price for your ebook(s)? Did you just trust your gut? Did you look at the Top 100 in your subgenre? Did you ask fellow indies? Did you survey your readers?

Have you experimented with different price points? Or have you just set it and forget it?

Let's do our darnedest to keep comments positive and respectful, pretty please? Cuz there's no undeniable "right" or absolute "wrong", eh? Plus, nobody likes a butthead. Trust me, I know hahaha...haha...ha...

*blank stare*

Hugsss,
Ann

A Newbie's Guide to Publishing

Quantatative Anaylysis of Top 60 Kindle Romance Novels

How Much Should You Charge for Your Romance eBook?


message 2: by [deleted user] (new)

This is a topic that has been bothered me to no end.

I don't know. I am just trying. And I'm afraid that the last choice I made was wrong so I will be changing the price again.

But I read the article from the last link you shared. That's something that might help, I think


message 3: by Annie, The Mistress (new)

Annie Arcane (anniearcane) | 2365 comments Mod
Yeah, it's kinda hard to tell, eh, Miss Roxana?

Just like everything else, it seems there's no one-size-fits-all answer. I mean, I reckon that there IS a ceiling on how high we can go before readers totally abandon our butts hahaha!! And I do believe a super low price can really hurt the perceived value our stuff. But that range is pretty freakin' big.

*shrugs*

I actually bumped my price up today cuz a buddy of mine said I shouldn't and I said "Watch me" LMAO! In any case, I'll keep track of it over the next 4 weeks and see what happens...

*grins*


message 4: by Emma (new)

Emma Jaye | 27 comments It also depends whether you are in KU or not. A higher list price when you are in KU might result in fewer sales, but could give you higher pages read as readers perceive that they are getting a bargain.
A book that costs 5.99 to buy, might be more tempting to borrow with KU than one that costs 0.99. It's all about perceived value.


message 5: by Annie, The Mistress (new)

Annie Arcane (anniearcane) | 2365 comments Mod
Ooooh, I am digging your thought process, Emma! And totally agree about perceived value!!

*fist bumps*


message 6: by Amanda (new)

Amanda Siegrist (amandasiegrist) I'll be honest, I didn't put a lot of thought into my price other than how I would purchase a book from someone I've never read. I didn't want to go too high and I didn't want to go too low. I generally don't purchase a book that is more than $3.99 if I've never read the author before. I really like $2.99 the best with an unknown author, so that's really why I set my price the way I did. I've never tried to mess with my prices (besides deals and whatnot).

I'm pretty comfortable where my prices are.


message 7: by Nicole (new)

Nicole Locker | 183 comments I think I agree with a lot of the info in the article I posted on this topic not too long ago.

https://www.goodreads.com/topic/show/...

When I set the pricing for my fiction novellas, I took into consideration that I was basically a completely unknown author (for fiction), and my books were novellas, not full length novels. My $1.99 price point has done fairly well, and I still think it's a pretty fair price. When I release my next book, which is a full length novel that is appropriate for an adult audience, I probably won't price it any lower than 3.99 unless I'm running a sale or a Kindle Select freebie day.


message 8: by Jane (new)

Jane Blythe Uh, yeah, I just picked a price and went with it!


message 9: by Sam (Rescue Dog Mom, Writer, Hugger) (last edited Oct 19, 2016 03:04PM) (new)

Sam (Rescue Dog Mom, Writer, Hugger) (sammydogs) | 131 comments Jane wrote: "Uh, yeah, I just picked a price and went with it!"

Hi Jane!
How very scientific and strategically methodic of you. : D
Too funny!
Hugs, Sue


message 10: by Jane (new)

Jane Blythe Sue (Rescue Dog Mom) wrote: "Jane wrote: "Uh, yeah, I just picked a price and went with it!"

Hi Jane!
How very scientific and strategically methodic of you. : D
Too funny!
Hugs, Sue"


Hahaha! Hiya, Sue!


message 11: by Aislinn (new)

Aislinn | 123 comments I'm the same as Amanda, I priced off my own buying habits. I pretty much never buy a book over $2.99. Even then, it will only be my fave authors. (And I'll never pay over $5 for them!) So I priced my own books at $2.99 for the novel length ones (55k words or thereabouts) and $0.99 for the novellas.

I'm pleased with how they've done so far. If I release longer books (100k or so) I might consider upping the price. But for now I think it is fair all around.

I also put my prequel novella as free every now and again for special occasions. Just to try to reel people in. I know it's worked on a few people!


message 12: by Annie, The Mistress (new)

Annie Arcane (anniearcane) | 2365 comments Mod
I am loving this thread a wicked much! Thank you to everyone for sharing!!

Sooo I'm the greedy one who just upped my novel yesterday from $3.99 to $4.99. Well, it's less about greed and more about perceived value cuz I'm gonna price novellas at $2.99 and want a bigger price gap between those and full-length novels...

The logic makes sense in my head haha!


message 13: by Aislinn (new)

Aislinn | 123 comments Annie wrote: "I am loving this thread a wicked much! Thank you to everyone for sharing!!

Sooo I'm the greedy one who just upped my novel yesterday from $3.99 to $4.99. Well, it's less about greed and more about..."


Good luck! I hope it works. I'm particularly curious if readers are willing to pay $2.99 for a novella. Keep us updated!


message 14: by Annie, The Mistress (new)

Annie Arcane (anniearcane) | 2365 comments Mod
Thanks, Miss Aislinn!

I'm confident I can sell a novella for $2.99 to preexisting readers. The only question is if I can continue to snag new readers at $4.99 for book one. That's really my only concern. Ehhh, not really a concern cuz...

*shrugs*

Tee hee.

Shall keep y'all posted ^_~


message 15: by [deleted user] (new)

Annie wrote: "Thanks, Miss Aislinn!

I'm confident I can sell a novella for $2.99 to preexisting readers. The only question is if I can continue to snag new readers at $4.99 for book one. That's really my only c..."


I really like your optimism.

I think your mind set is the key. Because you think that everything is possible, that's why you do succeed. I'd love to be like you but..... doubt creeps now and then and.....


message 16: by Annie, The Mistress (new)

Annie Arcane (anniearcane) | 2365 comments Mod
Awww, Miss Roxana! *blushes* Thank youuu!!

To be honest, it's not that I don't have doubts cuz I totally do about lots of stuff. It's just that if I'm gonna do something anyway, I can't think about failure. I'd rather live happily in denial...

*wry grin*

Okie dokie, update for your superstars:

2 copies have been sold at $4.99 today sooo it ain't completely ludicrous LMAO!!

Group hugs,
Ann


message 17: by D.L. (new)

D.L. LeBlanc | 10 comments My first book is free, but my second one is $2.99. I based the price on my buying habits. I am a sucker for a free eBook, but sometimes I read the second book in a series based on the price. I will usually purchase from a new author if the price is $2.99 or less, but will pay $15-$20 for established authors that I enjoy.

Annie, even though I had read great reviews for Hart Broken, I purchased it on sale because you were a new author so I had to decide for myself if I was a fan. I will be buying Hart of His no matter what the cost!


message 18: by Annie, The Mistress (new)

Annie Arcane (anniearcane) | 2365 comments Mod
D.L. wrote: "I will be buying Hart of His no matter what the cost!"

*prices HoH at $19.99*
*laughs maniacally*

Totally kidding haha! And thank youuu! That means so much to me!!!

***MUAHHHHH***


message 19: by [deleted user] (new)

Annie wrote: "Awww, Miss Roxana! *blushes* Thank youuu!!

To be honest, it's not that I don't have doubts cuz I totally do about lots of stuff. It's just that if I'm gonna do something anyway, I can't think abou..."


Told you! Your happy thoughts attract happy events.

Congrats, Annie


message 20: by Annie, The Mistress (new)

Annie Arcane (anniearcane) | 2365 comments Mod
Rowena wrote: "Told you! Your happy thoughts attract happy events."

Haha, that might actually be true XP

And thank you kindly!!


message 21: by Mary Ellen (last edited Oct 21, 2016 07:27AM) (new)

Mary Ellen Woods (maryellen_woods) | 163 comments The bottom line for me is Amazon royalty structure. Since I'm a new author, don't have a following, and it is a full-length novel, I figure $2.99 (which is the 70% royalty floor). If you are in KDP select, then you can run promotions lower and still get 70%.

I also based, as others have said, on my buying habits. And your comments confirm my thinking...great minds think alike eh? I try a new author for 2.99 or less. I'll pay more for one I already know and like. Length also makes a difference as above stated. I won't buy a novella above 2.99 even if I like the author since I don't think you should charge as much as a full-length novel for less reading material.

Once I get more books out in the series, I will do the first book free thing because I know that works for me, and again you all have confirmed that. But right now I don't see doing a free promotion because hey...I need to make some of my money back so I can keep doing this.

I like the KU thinking stated above...higher price makes the reader believe it is a bargain.


message 22: by Marina (last edited Nov 04, 2016 04:07PM) (new)

Marina Lovechild | 124 comments I first had one of my books at 1.99 due to me being an unestablished author, but only getting 30% made me re-consider it after awhile. I really hope my readers will think 2.99 is worth it. We'll see.


message 23: by Ember-Raine, The Lady (new)

Ember-Raine Winters (ember-raine_winters) | 688 comments Mod
This whole thing completely confuses me! I am the same as most of you, I don't like to pay more than 2.99 for a book from a new author, but I read a post on another group I am a part of on goodreads and it said that most people don't like books priced at less than 2.99 because they automatically assume it is self-pub garbage. So, yesterday I upped my prices for my ya Dystopian novels and had planned on pricing the romance novel I'm releasing soon at 3.99. But now I am wondering if that is a good decision! I'm so confused!!


message 24: by Annie, The Mistress (new)

Annie Arcane (anniearcane) | 2365 comments Mod
@Miss Marina: Sorry I missed your comment! I've never heard a complaint about $2.99 for a novel (in any genre) and have seen tons of novellas with the same price tag ^_~

@Miss Ember: Let us know how it goes for ya! My guess is quite well, actually.

I started off at $3.99 for my first novel then upped it to $4.99 and haven't had an issue at all. My second book is priced at $2.99, which I actually think is a bit much cuz it's only 19,500 words and 92 pages long. However, I just can't accept the idea of 35% royalties. Like, it gives me legit anxiety to think about Amazon taking that much of a cut...

*cringe*

I've yet to receive pushback about pricing so I reckon readers are pretty understanding that we gotta make a bit of moolah too, eh? They're actually crazily supportive, in my very limited experience.

Personally, I'm a huge fan of $3.99 min for novels just cuz it gives you wiggle room if you ever pub something shorter, ya know?

Anyhoo, congrats on the new book! Keep us updated!!

Hugs,
Ann

P.S. - Sorry about the jumbled brain vomit there. Can't think straight today LOL


message 25: by Ember-Raine, The Lady (new)

Ember-Raine Winters (ember-raine_winters) | 688 comments Mod
Thanks so much for the words of wisdom Mistress Ann I think I am going to go ahead with the price points I stated here!


message 26: by Annie, The Mistress (new)

Annie Arcane (anniearcane) | 2365 comments Mod
You're most welcome but please don't consider my words wise. Ever. Like, EVER.

^_~


message 27: by Jane (new)

Jane Blythe Annie wrote: "You're most welcome but please don't consider my words wise. Ever. Like, EVER.

^_~"


I consider your words wise all the time!


message 28: by Jane (new)

Jane Blythe Hmm, I am actually considering raising the price of my books from $3.99 to $4.99 after I run a promotion next week, haven't quite made up my mind yet but I think I probably will!


message 29: by Annie, The Mistress (new)

Annie Arcane (anniearcane) | 2365 comments Mod
Jane wrote: "I consider your words wise all the time!"

This is a very serious problem.

Jane wrote: "Hmm, I am actually considering raising the price of my books from $3.99 to $4.99 after I run a promotion next week, haven't quite made up my mind yet but I think I probably will!"

Yesss! *fist bumps* Come join me in the land of $4.99, Princess!!


message 30: by Kristina (new)

Kristina Beck (kristina_beck) | 72 comments Thanks for this topic. Since I'm getting close to pricing my first book, this has all be really helpful.

Do you think readers look at how many pages are in a book and compare that to the price or is it only the price they look at? My first book is over 100,000 words. I don't want to aim too low especially for the paperback. My ebook will be part of KDP Select.

Decisions, decisions.....


message 31: by Annie, The Mistress (new)

Annie Arcane (anniearcane) | 2365 comments Mod
@Miss Kristina: Congrats on the soon-to-be first book, ma'am!!

Hmm. I do think readers look at # of pages but I also think they're far more critical of poor quality. Like, if a book has a ton of errors or whatever, I reckon readers will annihilate it regardless of length.

To give you an idea, my 2nd book is a 92-page novella just shy of 20K words and I priced it at $2.99. The next two will be around that length as well and priced the same-same.

I've not had a single complaint about pricing and I even had a crazy epic fail on release day when a completely screwed up file went out to the 300+ people who'd preordered it. Readers are pretty forgiving of mistakes and totally understand we have to make money too.

Just my 2 cents, though, and I know many indies disagree with me on this topic sooo...

*grins*


message 32: by Aislinn (new)

Aislinn | 123 comments Hi Kristina! An exciting time, publishing your first book!

I definitely look at the page count:price ratio when buying books, but I think everyone has different thresholds of what they are willing to pay. Since I buy WAY too many books (more than I could ever read!) I need to be careful what I spend my money on. I usually only buy books at $1-3 unless I really know and trust the author. Plus, the cheaper they are, the more I can buy. (logic!)

I've priced my books based on how I, personally, am willing to shell out my cash. So far it's worked out ok. Once I have more books, a bigger fan base, and a steady readership, I will consider bumping my prices up.

It's definitely one of those things that you'll need to test and try out, to see what works for you.

For example, I don't have a problem with giving away my prequel novella for free, but I know not everyone likes to do that. So, really, it's up to you!

Good luck with it!


message 33: by Bree (new)

Bree Verity (breeverity) The way I look at it is this:
I should ALWAYS be compensated for someone reading my book.
I've put hours of my time and expertise into it, and for others to expect me to hand it over with no compensation is plain crazy.
I have tried free promos, all that has happened is I've had loads of downloads of the freebie, and then nada.
So I price my books at $1.99 for anything under 10K, $2.99 for anything under 40K and $4.99 for anything over 40K.
The benefit of these prices is that I can discount them, make people feel as if they are getting a deal, but still actually make a few cents off them.
Has it worked? Not really no. But I think that's more because I don't have a following or a list. Working on those now.
However, I will continue to price my books as above. Until I feel like my readers will be happy to pay more :-)


message 34: by Jane (new)

Jane Blythe I was concerned that when I upped my prices from $3.99 to $4.99 I might not have many sales but actually after doing a free promo of one book and a couple on sale at $0.99 I got a great run on of sales of the rest of my books, and when I took my books off sale and put them up to $4.99 I had lots of sales of those books too, so I think there are plenty of people who will pay a little more for an ebook as well as plenty of people who prefer to get them for free or only like $0.99


message 35: by Aislinn (new)

Aislinn | 123 comments I'm thinking of bumping the price of one of my books from $2.99 to $3.99. I'm wondering if I can turn it into a promo opportunity (get in quick, before the price goes up! etc) But I'm not sure how I'd do that. Hmmm.


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