You’re a self-publisher, and you’re concerned about pricing your Kindle ebooks. Over the past week, I’ve had many questions about pricing from our Sell Kindle Ebooks authors. (Thank you for making the program such a success, by the way. 🙂 We’re thrilled it’s helping you.)
Pricing is always contentious. Should you slavishly follow trends and fashions? What about KDP Select and Kindle Unlimited???
It’s impossible to offer a one-size-fits-all strategy for pricing your ebooks. There are too many variables, including:
- YOU: what are your aims and goals? Where are you in your self-publishing ventures — do you have a catalogue, or are you publishing your first ebook? Are you selling only on Amazon, or are you selling elsewhere? (and on, and on…)
- What’s the pricing like in your category or genre? What’s the most common price for self-publishers there?
- Are you “training” a readership? That is, are you building a platform, and looking a year or two ahead?
- Are you creating a funnel — writing a serial, or series, and plan to make the first ebook free at some stage?
- Are you bundling?
Consider YOUR situation. It will be different from other authors. Make a list of what you want. (And please write the list, don’t try to keep it in your head.) It’s essential to assess where you are, because unless you know, you’ll have doubts, and will change your pricing at whim.
This brings us to our first tip…
1. Have a Reason for Your Price
I suggest you write down where you are, because you need to have a reason for your pricing. You need to be comfortable with it. Don’t bother explaining your reasons to others. As we’ve said, your situation is always unique. Find your reason, assess your comfort zone, and then…
2. Set the Price, and Change It Slowly (or Not at All)
Once you’ve set a price for your ebook, be wary of changing it for at least three months. Give the ebook a chance. If you want to change the price, make a list of the reasons, especially if you’re a new author, with a small catalogue.
My suggestion: in your first year of self-publishing, focus on your writing, and building your catalogue. Publish often. Avoid checking your stats. Check them once a week if you must. Be strong, and check them once a month.
3. Watch the Top Sellers in Your Category, and Price Accordingly
Check the top sellers in your category. Keep a spreadsheet of dates, titles, and pricing. See when the top sellers change their pricing: they may do it because they’re advertising a title somewhere. Check out the websites of the top sellers too. What else are they publishing? What’s their strategy?
Read widely, and spend time on Amazon, as well as the other ebook retailers. Over time, you’ll develop a feel for pricing your ebooks. Your audience will tell you what they want. You may publish an ebook at $2.99 and it goes nowhere. You decide to raise the price to $5.99 and increase your sales. Or you decide to offer a title free, and then increase the price on other titles in the series.
Stop Worrying About Pricing
Write the best books you can. Focus on your readers, always. Your pricing strategies will develop, in line with what your readers want. Read, write, and publish. Although it may not seem like it, pricing is a small issue in your overall ebook publishing program.
Need more? Check out our 15-minutes-a-day book marketing strategy.
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