The length of your book is also a factor to consider when determining your title's RRP. For example, a novella with a page count of 80 shouldn't be priced the same as a full-length novel of pages. This is another instance where you need to undertake your own market research, and determine what's right for your book and its length. Royalty percentage breakdowns Before you start implementing pricing strategies, it's important that you understand the breakdown of royalty percentages within the Amazon KDP platform.
For more information on the pricing structure and royalty, click here to visit the complete pricing page on KDP. The brilliant thing about being an independently published author and the KDP platform is that you can change your price at any time. There's plenty of room to experiment and strategise, so keep that in mind as we move on to the next section. Image by Aliis Sinisalu on Unsplash Week-by-week pricing strategy Unfortunately, there is no one-size-fits-all when it comes to pricing self-published ebooks. However, we thought we'd share our best practice pricing strategy for the first six weeks of your book's lifespan.
The strategy you'll find below is the skeleton of the one I used to launch my bestselling novel, Heart of Mist , into the world.
We recommend that you adapt this to your own research and goals, but it's a great starting point. Seems ridiculous, doesn't it? However, there's reason behind this madness Ideally, you will have sent out ARCs of your novel to an advanced team and reviewers well in advance of your publication date.
How to Set Ebook Prices
Hopefully during this time, you will have garnered some decent reviews 4 and 5 stars. You want to launch with these reviews on your Amazon page. People are far more likely to purchase a book if it has some sort of social proof, like reviews. This means that their review will get a 'Verified Purchase' tag, essentially legitimising their review. You want as many of these as possible on your book's page, before and during launch week. Another reason for the low price is to generate buzz. You want as many people to purchase your book as possible in a short space of time, in order to increase its chances of gaining traction and momentum in the sales charts.
At this very early stage, you should be less concerned about your royalties, and more concerned about getting your book into the hands of as many readers as you can. Note: be sure to explain that this 'launch price' is for a limited time only. Create a sense of urgency; make your readers feel like they don't want to miss out! Also make sure you detail the full RRP of the book in your promotions, so that potential readers get a tremendous sense of value for money when they purchase the title for under half price.
It's still cheap enough to be an absolute bargain, but it also shows any fence-sitters that you're not kidding around about raising the price. Make sure your marketing still stipulates the full RRP you've decided on. These sorts of paid promotions usually require books to be less than half price to be included in a newsletter to thousands of potential readers. Assuming you're marketing your book effectively, by now you should have some meaningful sales. Perhaps you're even in the top of one or more of your Amazon categories.
How to Price Your Self-Published Book
A full-length book for under five bucks? Definitely still a bargain! Image via FictionalFates. Have you ever wanted to buy a single item, but the thought of breaking a note or bill has turned you away? This is the same thing. That's why we've worked so hard to garner good reviews and gain traction through the lower price point sales. You need to make your book so enticing that potential customers will overcome that mental barrier.
Remember to advise that the price will soon jump up to its full RRP, so people need to be quick to take advantage of the discount. This price is your RRP, and it's where you'll remain until you choose to do future promotions. Remember you can change your price at any time, so don't feel as though you're trapped. However, I do recommend leaving at least a week between price changes, for two reasons: So you can get a decent sample of how well the book's doing at a certain price, sales-wise.
To avoid upsetting any readers who bought the book for full price only to see it heavily discounted a few hours later. Do note: it's always best to start with a low price and work your way up than vice versa. Image by Maarten van den Heuvel on Unsplash Final considerations Before we wrap this guide up, there are a few final details to consider when it comes to pricing your self-published ebook Amazon's buying experience As an independently published author, it's up to you to familiarise yourself with Amazon's platforms, and that includes the buying experience from the reader's end.
As a writer, you should also be a reader, and so we strongly encourage you to experience the other side of the coin by purchasing and reading books from Amazon. You want to be familiar with the entire process from the reader's end. Ask yourself: What makes you buy a book? What categories are these books in? Amazon's charts With a tonne of hard work, and perhaps a dash of luck, you might find your title in the Amazon charts.
This is why those initial low price point sales are so important. This is why we suggested early on to examine your competition — look at their categories and pricing, and determine where you fit in the mix. By gaining traction through a well researched marketing and pricing strategy, you could very well end up in Amazon's top , or better!
Book Pricing Issues When Self Publishing and Selling Direct to Customers
Image via picjumbo. Should I set up a pre-order option? How long before my book's release date should I set it? How do pre-orders affect my book's sales? Ultimately, it's your choice. However, it's worth noting that pre-orders don't count for the month of release; they count for the month prior, which means when your book is released, those sales don't go towards release month. This means you may lose some of that sales momentum unintentionally. If not, you might want to try a more popular topic with a built-in audience.
Books that are in the top rankings or have a lot of customer reviews and feedback are signals that there is an audience for your topic on Amazon. This means looking for popular and trending topics out in the world that are not covered well already by Amazon books. You can bet there are plenty of people who would love the buy the book you produce. Of course, to have Amazon self-publishing create a steady income for you, you do need to take some steps. You have to get the word out about your book. But you can make money… and the opportunity is growing. One of the authors that is an example of this growing opportunity is Adam Croft, who writes and then puts out his mystery novels through Amazon self-publishing.
One other key thing to note, when self-publishing books on Amazon you don't have to write long books that can be time-consuming and labor-intensive. You can start off by writing shorter books that are very focused on a singular topic and charge a lower price for those books.
How to Self-Publish a Book on Amazon [With Tools and Resources]
This is good news for those who suffer from writer's block and don't feel they have the time or focus to put out a larger traditional book. The most cost-effective and efficient way to do Amazon self-publishing is through ebooks , which allows people to download your work directly to their devices, like the Kindle ebook reader. You do need an Amazon account.
This option, with paperbacks, is also available in the Kindle Direct Publishing program. You can easily have your ebook converted into a print book which is an easy way to sell more books as there are many people who still prefer physical print books. There are some differences. For example, with paperback Amazon self-publishing you get 60 percent royalties, instead of 70 percent.
Also, because this is print on-demand, Amazon subtracts publishing costs from each sale too. If you are publishing a with Amazon Kindle then you should surely take the extra step to offer a print version of your book as well. This will increase your overall sales and profits without doing any extra work. Once you have a good handle on the Kindle Direct Publishing program, you could take it to the next level with the KDP Select program, which allows you to reach more readers and make more money, although there are important guidelines to follow.
Start with the standard program first, experience some success, then check out the Select version. One key thing to sell your book is to create an attention-grabbing page for your Amazon self-publishing listing. And, when you use keywords related to your topic, people searching Amazon or Google will see your book high in the search results. Keywords also come into play when you pick your book title. Most people write very short descriptions on Amazon, but you have plenty of space to write a very long thourough description that can really sell people on the benefits of your book and why they shouod buy it.
- KDP Print paperback books.
- Whispering Coves!
- Royal Romances: Titillating Tales of Passion and Power in the Palaces of Europe.
- Gender and Justice: Why Women in the Judiciary Really Matter (Perspectives on Gender).
- Pricing to sell: How much should your book cost? | Lulu Blog.
- How much does a book cost?.
- Unsure Of How To Price Your eBook? This May Help.
Reviews are also vital in selling your book. People want to see what previous readers thought before committing to buying. So, as a new author, where do you get reviews? Send the book to people in the industry or experts in the topic covered in the book, co-workers, friends, and family… then ask them to submit an honest review.
The key here is to be diligent in your follow up with getting reviews. Most people are extremely busy and even writing a short book review is something they are not likely to do without a little nudging. You should also put out in the word out on your social media like Facebook and Twitter. Put up a website. Create an email list. Join forums related to the topic of your book and join the conversation… and casually mention your book. Comment on blogs in the niche, with links back to your book website or Amazon page.
The Price Is Right: 6 Secrets to Pricing Your Ebook - The Book Designer
Another option is to run ads though Amazon's AMS program. You can run ads every time someone does a keyword search on Amazon and also show ads for your books when visitors are looking at other books related to your book. This is one of the most cost effective ways of doing paid advertising for an inexpensive book and still make a profit doing it. This is a very powerful tool to get your book in front of the people who are most likely to buy it. The first step here: get your books online on the Kindle platform! And get the word out through intensive marketing.
Don't be shy about telling the world about your book. Those self-publishers who do make four figures per month — or more — have multiple books for sale. This gives you two important advantages. Many people click on those links to find out more about those related products, in this case books, and buy them too. Again, you could easily accomplish this by having two shorter books rather than one longer book on Amazon.
Aim for having a goal of having at least two books on Amazon for best results.