Author Topic: How much does price matter?  (Read 2055 times)  

Offline ゴジラ

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How much does price matter?
« on: July 13, 2011, 01:48:29 PM »
I released my YA paranormal at $2.99 in April, and just released a steampunk novella at $.99 last Friday. They both sold about the same amount on the first day-- roughly 20 copies apiece. I don't think it was all the same people, since they target totally different markets.

This makes me wonder how much price matters in the indie publishing world. I don't think I'd sell as well at $9.99, but would I perform roughly the same at $3.99, or $4.99? Or are 99 cents and $2.99 the sweet spots?

I'd be curious to hear from people who have tried a mix of pricing strategies. :)

Offline Kevis Hendrickson

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Re: How much does price matter?
« Reply #1 on: July 13, 2011, 01:56:27 PM »
I've been playing with the prices of my books since almost the first day the Kindle came out and was probably the first author to use the 99 cent price. But one of the things I've learned about pricing is that you can't base your book prices on another author's. Different price points works differently for different authors. I have noticed that young adult books tend to sell better at the lower pricing bracket, while many science fiction novels are set at a higher price point. I think it has much to do with the expectations and specific needs of readers. SF readers tend to be very selective in the material they read. Many of them will avoid looking at any book priced low and dismiss said titles as likely poorly written and edited. On the other hand, many Young Adult readers are far more tolerant of editorial errors in books and seem to gravitate to books with a lower price. Don't know why that is. But it is my observation. I'd recommend experimenting with your prices to see where you have the most success selling books. But make sure you allow yourself enough time to accurately gauge the results. If you are changing your book's price every other week, your sales data will be too inconsistent to make much sense of the sales trend. Hence, making it difficult to really know what's the best price for your book.
« Last Edit: July 13, 2011, 02:02:42 PM by Kevis Hendrickson »

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Offline Javier Gimenez Sasieta

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Re: How much does price matter?
« Reply #2 on: July 13, 2011, 03:04:18 PM »
Ive played with 2,99$ and 0,99$ prices.

My book is a thriller, written in spanish. And Ive detected that the sales drop to half when raising the price to 2,99 from 0,99.

(In other wrds, I double sales when lowing the price to 0,99$).

But I do prefer to price my book at  2,99$.

Offline ゴジラ

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Re: How much does price matter?
« Reply #3 on: July 13, 2011, 03:18:30 PM »
Kevis, I haven't done any price changes at all yet. I was thinking of dropping Six Moon Summer temporarily to 99 cents when I release the sequel, so I'll have to see then.

Javier, it sounds like it's worth the slower sales at a higher price. Don't you have to sell something like seven books at 99 cents to make the same royalties that you do at $2.99?

Offline Javier Gimenez Sasieta

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Re: How much does price matter?
« Reply #4 on: July 13, 2011, 03:24:33 PM »
Smreine, Youre right.

I just have on book, so I do prefer to sell it at 2,99$. I believe 0,99 is too little money for the product. When I sell a 2,99$ book Im happy. When I sell a 0,99 $ book... I dont care.

That said, Id lower the price IF the sales stop. But by the moment, Im happy with the sales at 2,99$

It may be interesting to sell at 0,99 if the book is the first part of a trilogy, or if you have many books at 2,99 and just want to gain readers.

Offline Amanda Brice

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Re: How much does price matter?
« Reply #5 on: July 13, 2011, 03:35:31 PM »
I haven't tried 99 cents yet, but I sell more at $2.99 than at $1.99, so it's a no-brainer for me.

(FWIW, I write contemporary YA, and 99 cents does not rule that market the way it seems to in in thrillers and suspense or in paranormal YA.)
 
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Offline Bob Mayer

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Re: How much does price matter?
« Reply #6 on: July 13, 2011, 03:52:13 PM »
We keep asking questions about something that has so many variables we can't ever get it right.

I think content matters more than price.

At the same time, things broke open for me when I dropped the first book in a series to .99

Offline Amanda Brice

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Re: How much does price matter?
« Reply #7 on: July 13, 2011, 03:56:10 PM »
At the same time, things broke open for me when I dropped the first book in a series to .99
Yes, when I release the sequel, I will definitely drop the first to 99 cents.
 
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Offline Dr. Laurence Brown

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Re: How much does price matter?
« Reply #8 on: July 13, 2011, 07:53:00 PM »
I think experimenting is the way to go. Indie books are almost always substantially less than those from traditional publishers, so I'm almost always willing to take the plunge and try a book for 2.99 or even 4.99 when it can save me a buck or two.
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Online Decon

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Re: How much does price matter?
« Reply #9 on: July 13, 2011, 08:17:35 PM »
I think I joined the 99c brigade a little late. I have only sold 20 per month of Survival instinct my full length thriller and sales have remained pretty constant at that figure since February. Reviews and personal emails from readers are positive. The royalties are so insignificant that I am definately trying a higher price this weekend until I bring out a second book in the series.

I think it is not as much the price as the inititial marketing that books gain traction following a reasonable amount of sales in a short time. I didn't do much marketing, putting all my efforts in to marketing Lunch Break Thrillers, which has enjoyed good sales.


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Offline Paul Clayton

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Re: How much does price matter?
« Reply #10 on: July 13, 2011, 08:23:17 PM »
Ive played with 2,99$ and 0,99$ prices.

My book is a thriller, written in spanish. And Ive detected that the sales drop to half when raising the price to 2,99 from 0,99.

(In other wrds, I double sales when lowing the price to 0,99$).

But I do prefer to price my book at  2,99$.
Javier, I'm sticking to $2.99, and no lower.  I may increase one of my books to $4.99 soon.  It's more than worth it.   ;D

Offline Javier Gimenez Sasieta

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Re: How much does price matter?
« Reply #11 on: July 14, 2011, 08:01:07 AM »
hmmmm... It may depend on the genre, and language. It seems that spanish language books are more price dependant... And have less Mk tools, so price is the key tool.

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