• It’s Always So Difficult to Talk about Money

    Posted on April 24, 2012 by in Marketing, Publishing

    You don’t have to work too hard to find blog posts–lots and lots of blog posts–about Kindle Direct Publishing and pricing strategies.  There are a dozen or more different theories out there about how an author should price their work.  Some favor a low price point, which encourages readers to take a chance on an unknown author.  Others talk about how price often equals quality in the eyes of consumers, so you don’t want to give the impression that what you’re trying to sell is bargain basement level goods.

    I struggled with this when I was getting ready to publish Redemption.  When I’d first started looking around at indie publishing, I’d thought it would be best to make my book ultra-affordable.  I’d figured at least that way I’d have a better chance at some word of mouth marketing.  But the more reading I did about this topic, the more I was convinced it didn’t make sense to give the book away.  First off, if you price a book below $2.99, your royalty from Amazon is only 35%.  If you price it at $2.99 or above, the percentage jumps to 70%.  I decided to compromise, opting for the latter scenario and going in at the low end, $2.99.

    Last night, I bought a gay romance book that had been recommended to me.  The price was $4.99, which I was happy to pay.  After I’d downloaded it, however (and I’ll confess, I bought it on the strength of the recommendation and counter to my usual practice, didn’t read any of the details on the book’s Amazon page), I noticed it was actually only novella length.  Now, good things can come in small package, no doubt.  But I thought about the pricing of that particular work.  It’s about half the word count of Redemption (which comes in at just under 101,000 words), yet its price is $2.00 more.

    That got me looking at other books in the Gay Fiction Top Ten.  With one exception besides Redemption, they all come in at $3.99 or better, with the top of the price range being $6.99.

    I started thinking… (always dangerous)

    I’ve decided to bump Redemption up to $3.99, starting on May 1st.  I feel, given the length of the book and the way people seem to be reacting to it, that’s a fair price.  But I don’t want to blindside potential readers.  So if you’ve been thinking of buying Redemption and haven’t gotten around to it yet, or if you know friends who are on the fence, please share with them that in one week’s time, the price will be going up.  It’s only a dollar.  But in this day and age, every dollar counts.  I want to make sure and give everyone plenty of notice.

    So please spread the word!

     

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