So you’ve decided to publish a book on Amazon (and hopefully read our helpful guide for doing so). Before those pages hit the presses or the Kindles you’ll need to price your work on Amazon, and we’re here with a bit of advice on finding the right price for your readers.
- Think about your motive. This is a great tip from Publishers Weekly, which advises writers to think about the purpose of their book: readership or revenue? Ideally, of course, you could get both, but a lower price will likely earn more readers (e.g. people will be more willing to try a new e-book author when the price tag is only a buck or two) while a higher price could earn you more revenue. The latter is true, of course, especially if you already have an established fan base but many new authors prefer to price on the lower side to attract new readers.
- Consider paperback vs. e-book. E-books should not cost as much as paperback books, for two reasons: Firstly because fewer resources are needed to publish the work, and secondly because research shows that expensive e-books don’t sell well, according to Mill City Press. While paperbacks can easily find success priced above $10, e-books do best when priced between $2.99 and $9.99 in fact, PBS says $3.99 seems to do really well.
- Take note of the printing fee. If you are self-publishing an actual book (not an e-book), then Amazon will automatically generate a flat printing fee based on the size of your book. If the fee is, say, $2.50, then you’ll want to factor that into the cost of your book (since that’ll be taken out of the royalties).
- Compare, compare, compare. One of the most important things to do when pricing a book is checking out the market and seeing how much similar books cost. Look at both similar genres (fiction, nonfiction, etc.) and similar page counts to get an idea about a fair price. If you see a price range of, say, $13 to $18, make sure to price your book similarly.
- Start low and experiment from there. Keeping prices low at first especially if you want to gain readers first and foremost is a great idea according to many self-published authors. From there, you can experiment with different prices along the way perhaps you raise the price of your next book by a dollar or two, or test different prices to see if a particular number does better than others.
- Edit, edit, edit. No matter the price of the book, readers will notice if there are typos and inconsistencies throughout the pages. A low price will reel in readers, but a well-edited book will keep readers on the hook and eager to read (and buy) more of your work. If you want people to pay to read your books, then it’s important to make sure readers are getting well-edited work.
With a good amount of research and an eye for what you want out of your book, pricing your work isn’t as daunting as it may seem.