So, my sales have been nothing today and it’s been suggested that I raise my price. I know I went on about the .99 cent price, but maybe it’s only a good idea when I have the second book out. I can look at this as another experiment to set up for tomorrow. I will probably drop the price back to .99 cents when the sequel comes out.
The question is, what do I change this to? The following options have been offered:
- 1.49
- 1.99
- 2.99
Does anybody have any insight and suggestions? I’m leaning toward the 1.99 since this might only be a 2 week long price change.
Legends of Windemere 
Hippo cats are cool.
You seriously worry too much. It hurts to shoot yourself in the foot, no?
Here is yet another suggestion. Leave the price alone and add a message where it gives you the option of book description saying the price is for a limited time only. “Sale”
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I was thinking about that, but I was wondering how many people read the book description.
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How many people use the following in their reviews “it didn’t sound like that at all in the description”
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Personally, I like the $1.99
There is just something about it that looks right.
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THanks.
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I suggest $2.99 for two reasons.
a) It seems to be the start of the “being taken seriously” price line.
b) 70% royalties with KDP select :p
Now if only Amazon would let us create coupon codes. No more price fluctuating!
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I was wondering about that. The thing making me leery about the 2.99 is that it was a pretty big jump. I’m going to be dropping this book back to .99 cents when the second book comes out too.
Pricing really is the bane of my existence.
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I understand, I agonized over the pricing of Baron of Blood. But if sales did well enough at $2.99, then you could keep it that way and price Prodigy at $3.99 as a new release. Then when the third comes out you could pull Prodigy dowm to $2.99 and make the new one $3.99 – that way you don’t lose profit, it looks good to the readers, and it will make your free promotion days extra special.
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Good point. I was wondering about gradually building it up, but maybe I should just go for broke.
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I’m with Ionia.
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I suggest $2.99 because, believe, it or not, this price yields more sales than .99 cents or even 1.99 for a self-published author.
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I heard 2.99 and .99 cents were the big ones. The idea of having the first book cheaper is still appealing, but that probably only works if the second book is out.
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Hmm… I shall be entirely unhelpful and say good luck! 🙂
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Thanks. I’m one step away from rolling a D4 to get an answer.
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The wise choice, lol. Consult the bones!
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The bones say 2.99 and to go for broke. If I’m still not selling anything, I can drop to a lower price as a sale.
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I’d go $2.99 and not call you a hypocrite. One of the big advantages of self-publishing is that you can do this, and you’ll reach different readers at different prices. Definitely worth a try!
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Great. 2.99 and ‘write .99 cent sale in the book description’ are tied. I think I’m going to talk to my tie-breaker on FB.
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Research shows books at $3.99 sell best. If that is not an option then $2.99 is it
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Interesting. Not sure I want to try for 3.99 just yet. Maybe I’ll work that into the future book pricing. This really is the hardest part of the business.
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I vote for $9,999,999.99. At that price you only have to sell one.
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Thanks. I just tried and I can only do $9,999.99.
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You always gotta do what you gotta do, and changing up something for a bit isn’t hypocrisy. I saw you settled on the price already. I was going to throw out 4.99. Why? Because, the way you write, it’s worth it. I’d say higher than that, but that might cause a revolution somewhere in the world…
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I’d agree with the 4.99, but I’ve been factoring in the paranoia and frugality (cheapness) of consumers. They still don’t know me well enough to take a big risk, so I have to play myself down. Now the question is how long do I give this before I play with the price again. I really need that sequel to take the pressure off.
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2.99. Seems to be the going rate.
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Yeah. That’s what I changed it to last night, so I’m hoping it works out. Not really sure how long I should give it for results.
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Let us know how it goes. After all, for some of us you are our guinea pig. he-he
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I will. Probably make a post near the end of the day as a 1st day thing. Ironically, the same day I do this, Amazon sends out an e-mail with my book at the top of it. Not sure if there’s a connection or a coincidence.
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Hmmmm…. Interesting.
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They were sending it out before this, but I never knew if there was a catalyst. It could be more about me being in KDP Select and being on the Hot New Release list at one point. Not really sure.
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I’m a big fan of $2.99. Although I was reading somewhere that the new “sweet spot” for indie ebook pricing is $3.99. Might want to look into that?
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I heard that too. Maybe I’ll start the second book at that and drop the first to .99 cents for the debut week? As much as I’ve read that 3.99 is the sweet spot, I haven’t found any explanation as to why. I’m having a really hard time figuring this out because of the looming sequel not having an exact debut date.
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Charles, as a hairdresser setting my own prices, I learned a lot about “percieved value” of my services. Sure, I could offer a full head of foils for $45, but would the client think it was a good deal — or would she see it as a low price for inferior service? I found that I got more customers when I set higher prices, because most people assumed that a $250 foil MUST BE BETTER than a $45 one.
Which is a long and wordy way of saying that selling for .99 cheapens you and your work. It gives the impression of lower quality rather than a bargain price. I believe that setting yor price at $1.99 or $2.99 will improve your sales by improving the perceived value of your work.
Then again, I’ve never had to price a book, and I’m just a dumb hairdresser. 🙂
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Makes sense. I had a lot of success with the .99 cent pricing. It’s only been the recently that the sales dropped off. As a new, unknown author, I thought it was smarter to air on the side of ‘low risk’ purchasing. I hate to say it, but maybe I’ve moved out of the unknown author category in some way. I have 32 reviews and a ranking under 20,000 on the Kindle Book List. It’s entirely possible that I’ve hit a point where .99 cents no longer works in my favor beyond temporary sales. For a 44 page poetry book, I can see the .99 cents due to size. The novels might work differently now.
Thanks for the insight.
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