Tuesday 19 August 2014

You Want to Charge £14.99 for Your eBook

Signs of a problem: calculator warm; piles of money in your imagination.

The symptoms: greed; ignorance.

You spent years writing your novel and therefore believe it the best novel ever. Therefore, you decide to set the eBook price at £14.99. You do the maths and are excited to note that, even after the vendor takes its cut, you will only need 1,000 sales to make £10,000.

Believe me when I say that, at £14.99, you will be very lucky to sell ten eBooks, let alone 1,000.

When deciding how to price your book, you must forget completely how long it took you to write, how much it cost to edit, and how truly brilliant it really is. Instead focus only on the value of similar-length eBooks by unknown self-published authors.

It is my sad duty to inform you that most debut novels by indie authors are priced between £0.00 and £1.99, with the gross majority costing less than a pound.

Your friends and family may buy your eBook no matter how much you charge, but if you wish to attract strangers then you need to give them a reason to take a chance on you – a low price can be a very good incentive.

Additional Blog-Exclusive Advice

By M T McGuire

Select your price carefully, choose your outlet carefully – if you’re nervous about getting flamed in a major online store then maybe start out giving customers an option to donate a price for your book. Some smaller/independent online stores provide this option. You could couple it with a donate button on your website. Start off small and grow your confidence. Choose your strategy, are you going to write a series? If you do, you can always give the first book away free.

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