How to Promote YOUR book on Amazon discussion

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General > Amazon's Pricing Tool

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message 1: by John (last edited Jul 23, 2014 07:02PM) (new)

John (jaymack) | 36 comments I've published a lot of ebooks on Amazon Kindle, but I've never used their pricing suggestions. Today when I was uploading a new ebook I tried it, and it suggested a lower price than what I was planning on using. According to their graph, the lower price would bring in more sales and I'd end up making more revenue. Has anyone tried this Amazon tool? I hesitate to under price my ebooks, but if this is a good suggestion I might do it.

John
Rose of Skibbereen (#1) by John McDonnell


message 2: by Duane (last edited Jul 23, 2014 09:03PM) (new)

Duane L. Martin (unseenthings) | 54 comments I looked at it. It says I should price the first book in my series at $5.99 and the 10th book, which is a longer book, at $2.99. I have all the books priced at $3.99, so I figure it'll all balance out in the end.


message 3: by John (new)

John (jaymack) | 36 comments Duane:

Thanks for replying. This is a big issue for me, because my gut feeling is that slapping a low price on my book is not going to bring in that many more readers. I have no data on it, though, and Amazon shows you a graph that seems to indicate you make more in the long run with a lower price strategy. I hope more people reply, because I'd love to get more feedback on this.

John

Duane wrote: "I looked at it. It says I should price the first book in my series at $5.99 and the 10th book, which is a longer book, at $2.99. I have all the books priced at $3.99, so I figure it'll all balanc..."


message 4: by Joss (last edited Jul 24, 2014 10:37AM) (new)

Joss Riley (josslriley) | 9 comments John,

I think you understand better the value of your content and there are many factors that can determine your overall pricing strategy that Amazon's pricing tool, however good it is and however much it understands the current trends in the ebook market, just can't account for.

Duane mentioned that he has at least ten books in a series, so he priced them all accounting for the sheer quantity of his work (I presume). Your book may be your first or your fifteenth. You may have another book ready to published right away or you may not have even started another one.

I would recommend that you design your pricing strategy around what you think the value is worth to the person willing to buy it, the relevancy of your content, the quantity of your books and your publishing schedule. Set reasonable goals and create a marketing plan independent of Amazon that will lead those customers to your product(s). People buy what they want because they want it, not necessarily because the price is right so to speak.

Just my two cents. Hope it is helpful in some way.


message 5: by John (new)

John (jaymack) | 36 comments Thanks Joss:

The issue for me is that I'm not a brand-new author. I have about 15 ebooks out now, including five collections of horror short stories, all priced at $2.99. This book is almost three times the size of the other horror collections, so I don't think it should be priced the same as them. I would like more readers, but I also have a small group of fans who I think would pay $4.99. Do I price the book lower to pick up new fans? And will it work? Those are the questions I keep asking myself.

John

Joss wrote: "John,

I think you understand better the value of your content and there are many factors that can determine your overall pricing strategy that Amazon's pricing tool, however good it is and however..."



message 6: by Joss (last edited Jul 24, 2014 11:42AM) (new)

Joss Riley (josslriley) | 9 comments Traditionally, you'd reduce the price of the older works and use that strategy to gain new fans while you retain the premium value of your new releases. But with the longevity of the ebook business a lot of the traditional rules of selling books don't/can't apply. This is one that I would say still has some usefulness though.

ETA:

John perhaps you could an introductory price for the new release if you have a hunch that the new, longer collection might capture a wider audience.


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