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Discussion Starter · #1 ·
I've decided to try KDP select. I know that there is no right or wrong answer to this and I know it depends on genre, length of book etc; however I'm curious as to how people generally price books after a KDP Select free run.

I'm planning on setting my price initially at $9.99 and then offering it for free for 2 or 3 days. I hope to price my book at one point at between $2.99 and $4.99 and then increase the price gradually until I find my optimal price. I expect the optimal price to to be between $4.99 and $7.99.

What I'm unsure about is to how to price the book directly after the free run. Do people make their book cheap or expensive after a free run or do they try and charge what they will charge normally?

Kevin
 

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Discussion Starter · #3 ·
LisaGraceBooks said:
Right now you have it at .99? Why so low?

Is it a full length novel? You can try the 9.99 price point. For non-fiction it might work.
Sorry, the book in my signature is not the one I'm referring to. That's only 40 pages long. I'll probably make that free soon.

The one I'm referring to will be over 200 pages when I release it in a week or so.
 

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Discussion Starter · #5 ·
Patty Jansen said:
The Select promo that was most successful to me, in terms of sales per book given away, was when my price was $6.99.
Is that price before or after the give away?

I'd be interesting in reading the price before the free run, the price after, and how a book performed afterwards.
 

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I would assume optimal is referring to the maximum $$ amount that comes in.  Anything under $2.99 is not going to be optimal because of the difference in royalty payments.  Anything over $9.99 is not optimal for the same reason.  After that it's a simple curve of increasing price outweighing the decrease in units sold.  So your answer is $2.99-$9.99 is the optimal price for a book after a free run.

Tongue and cheek aside.  You can datamine the big "I went free and here are my results" thread and try to come up with a general idea on where you should price your book according to genera, length, free run results, and any other variables you might notice.  I would recommend you start keeping track of your sales data on a daily basis.  Everyone's results are different and the only data that will give you a clear idea if you are on the right track is your own sales data.

From my own experience, my $2.99 and $4.99 books sell at the same rate.  I see 2x to 3x the number of units sold when I price drop to 99c. but I also loose 50-70% of the revenue.  I do see increased sales of other books, but not enough to make up for the loss.  However, this is during off months.  Holiday months it's the opposite.  Cheap books sell and the more expensive ones don't comparability.  After a year and a half of data, I do know this.  I need more data.  Mainly because everything changes when you write another book.  Suddenly that 35c you got from a discount book now generates $3.50 from the sequel and another $3.50 from the third book.  Before it was a loss, now...  Not so much.

There will still be times that no matter what you do, you won't sell anything.  And there will be times you go on vacation for a week and comeback to a surprise.
 

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Discussion Starter · #7 ·
Yes. Sorry, I should have explained that. I mean the price which generates the most money. This could be $2.99, $4.99, $7.99 or whatever. I read that a good way to do that is to price low or high and then adjust your price up or down accordingly until you find the price that generates the most money.

I guess my problem is I'm going to use a free run to generate reviews etc and afterwards, I'm going to change prices until I find what my optimal price is. I was thinking of setting it at $9.99, then making it free then making it $2.99 when the free run ends. Then I'll increase the price slowly. What I was concerned about was that directly after a free run, authors see a lot of sales, so I didn't want to cut myself short. I suppose it's a good way to get more reviews though and by the time the book reaches $5.99 or whatever, I'd have lots of reviews.
 

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It's hard to say.  The variables are numerous.  A free promo after Christmas will generate more money than a promo in the middle of July, even with the same number of free downloads.  I know this because I have promo data from Christmas, and data from July.  I also have 6 months data with only one book available, and 12 months with two and a couple of weeks with three books.  (Just released my third).  The data sets look nothing alike.  Of course, I could just be that I have no real idea of the invisible variables that influence my data.
 

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Discussion Starter · #9 ·
SBJones said:
It's hard to say. The variables are numerous. A free promo after Christmas will generate more money than a promo in the middle of July, even with the same number of free downloads. I know this because I have promo data from Christmas, and data from July. I also have 6 months data with only one book available, and 12 months with two and a couple of weeks with three books. (Just released my third). The data sets look nothing alike. Of course, I could just be that I have no real idea of the invisible variables that influence my data.
Yeah there's always going to be a lot of variables you can't control. Even having a lot of other authors in your category making their books free or cheaper at the same time will effect you. I may just set it to $4.99 after the free run and then move it up and see how sales are affected. Trial and error!
 
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