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This is a recurring theme, as I’ve already posted twice on the subject: Pricing your ebook: Is free the new paid? and How to price your Indie book both deal with this.
I’m writing about it again, as Written Word Media recently published an excellent post on pricing one’s e-book. As Taylor, its author, points out, the answer depends on whether your immediate goal is to reach new readers and generate sales (along, presumably, with reviews), or to make a profit.
Price your e-book at $0.99 to maximize readership
If you’re looking for ways to increase your book/author rank and generate reviews, This graph explains why $0.99 is the best price to reach new readers, with $1.99 not far behind:
Price your e-book at $4.99 to maximize revenue
Amazon skews the results here by offering authors 35% of the earning for prices under $2.99, and 70% over that. As a result, you should price your e-book at $4.99 to maximize your revenue. You will have far fewer sales, but far more revenue.
Price your e-book at $2.99 if you want it all
If you’re like me, you’re already looking for the sweet spot where you can both reach new readers and make a small profit out of it. In this case, all you need is the graph below.
In summation…
The main takeaway from all this is:
- To reach as many readers as possible, go for $0.99.
- To have some revenue and acquire new readers, go for $1.99.
- If you want to maximize revenue more than you want to acquire new readers, price your book at $2.99.
- If you just want the money, price your book at $4.99
[tweetthis]How to Price your E-book to Both Get New Readers and Make a Profit[/tweetthis]
Steve Boseley said:
Reblogged this on Steve Boseley and commented:
Another key point in getting a book launch correct, is pricing. Author Nicholas C Rossis make the case for the most effective price-point, depending on you goals.
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adeleulnais said:
thanks for posting this, have bookmarked page so I can refer to it and have also re blogged on firefly465
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Nicholas C. Rossis said:
Yay! Thank you so much for that 🙂
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adeleulnais said:
Reblogged this on firefly465 and commented:
good advice
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PHS said:
Been feeling a price reduction coming and this may just push me into it. $2.99 has been on my mind and this just solidifies what I was feeling. I do think if it’s too cheap it invites troll review from unethical competitors – free or 0.99 makes it too easy while 2.99 is too much to invest just to hand out a negative review – cuts into their revenue and other budgeted costs. Thanks for the graphics on this one!
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Nicholas C. Rossis said:
A pleasure. I’m glad I could help.
One note: I’ve noticed that, after increasing my prices to $3.99 from $2.99, I get a lot more KENP reads than sales. Before, it used to be the other way around. Profit-wise, it evens out, so it’s not a problem.
Just something to keep in mind.
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PHS said:
Thanks, I’ll take that into consideration. I think that I’ll target some days and weeks for temporary price reductions.
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The Story Reading Ape said:
Reblogged this on Chris The Story Reading Ape's Blog and commented:
In case you missed this post from Nicholas 😀
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Smorgasbord - Variety is the Spice of Life. said:
Reblogged this on Smorgasbord – Variety is the spice of life and commented:
Nicholas Rossis on how to price your Ebook for readership and profit.
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Giovannoni Claudine said:
Thank you for the accurate and neat suggestions…
I wish you a lovely weeks (with your two cats on the lap 😉
Please note: without cats around when you’re writing, there wouldn’t be any inspiration…
:-)claudine
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Nicholas C. Rossis said:
Lol – how true. Although I’ve had a more captive audience on my lap lately – my 40-days-old daughter 🙂
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Giovannoni Claudine said:
Congratulations for the little one!
Both mine (the kids) are the best Readers and evaluators… but actually I prefer my cats around the office since they don’t criticise that much…
:-)c
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Nicholas C. Rossis said:
Lol – not much criticism coming out of her mouth yet (unless *that’s* what she’s trying to tell me)! 😀
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Jack Eason said:
Thanks Nicholas. I’ll stick with $2.99, if only to cut down on the number of one and two star troll reviews. 🙂
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Nicholas C. Rossis said:
Fair enough 🙂
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Jack Eason said:
Reblogged this on Have We Had Help? and commented:
Our Nicholas on Ebook pricing 🙂
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Solveig said:
This is just what I need for reference. Mind if you quote you in a blogpost soonish? Thanks 🙂
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Nicholas C. Rossis said:
I’d love that; thank you 🙂
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kimwrtr said:
Reblogged this on Kim's Author Support Blog.
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C.S. Wilde said:
This was great, thank you for sharing!
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Nicholas C. Rossis said:
So glad you enjoyed it! Thanks 🙂
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Tracy Campbell said:
Another of your posts I will keep for reference purposes, Nicholas. 🙂
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Nicholas C. Rossis said:
Yay! High praise, indeed. Thank you 🙂
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Tracy Campbell said:
Hi Nicholas, I may have missed the discussion on “the free eBook” (it’s late), but what are your thoughts on taking advantage of KDP Select’s “free eBook” for new authors? Again, another informative post. Thanks. 🙂
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Nicholas C. Rossis said:
It’s one of the most powerful tools Amazon offers, especially for new authors 🙂
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Tracy Campbell said:
That sums it up perfectly. 😀
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Ashlee McNicol said:
Great article! Thanks for the advice!
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Nicholas C. Rossis said:
Thank you! I’m glad you found it useful 🙂
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