Set The Right Retail Price to Sell Your Books CompetitivelyShove your ego aside. Push your humility even further. Here are a few more things to consider before pricing your self-published book. Subscribe to receive this extra resource:. When you consider it from that perspective, any book purchase is a gift. This is why book pricing is both an art and a science. In the end, it boils down to positioning, but also other contributing factors include your experience as an author, your ability to tap into the emotions of your prospective readers, and market demand for your subject matter.
How to Set the Retail Price of Your Book
When the physical characteristics of your book such as page count, covers, binding, size, etc. This price is a function of trim size, binding, cover stock, colors, etc - all the "physical" traits of your book. You then need to determine the Retail Price. The retail price should be based on your appraisal of the target audience - this includes the value your product provides to the reader, as well as what price point OTHER competitive products are selling at. The retail price should be at least 2. The Retail Price also helps establish the Net Sales Payment amount - the amount you, the author, make from each sale.
How to Choose the Right Price for Your Self-Published Book
Before you set your retail price, research other comparable books and their prices. One of the biggest mistakes you can make is setting your price too high compared to your competitors, which basically reduces the likelihood that people will buy your book. No matter how good your book is, millions of books are published every year. You have to find a retail price that fits in the range of other books in your genre. And yes, the genre of your book is important. Consider your target audience, other books that sell well, and your overall book design. Where will your book fit into the market?
Just like the actual writing of a book, pricing is part art and part science. Some authors see their books as businesses. They should price their books like any other profit-driven business would price an item. Some authors just want as many people to read and love their books as possible. These authors are fine with not making any money—or even losing money—as long as they get to tell their stories. These authors will give their books away for a pittance or for free. Most of us authors are somewhere between the two.
How much should you charge for your e-book? When you pick a price, always keep in mind that you could revisit that price, halve that price, or maybe double that price, depending on the reception your price gets. The best price for your e-book depends on a number of factors. Here are some important questions to ask yourself in deciding on your e-book price:. If this is your magnum opus, you might choose a more substantial price, depending on how you plan to market it. Which brings us to this question:.
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