Price your book to make a profit
There’s plenty of discussion about the retail pricing of independently published books, most of it centered on self-publishing book companies setting list prices too high. I get frustrated when industry experts write that these higher prices are a problem, without offering any evidence that this is the case. In the absence of price sensitivity studies, or of testing book sales at different price points, the “experts” are simply offering a guess based on their experience. I suspect that their experience comes from pricing books for the brick-and-mortar bookstore market. What a company like Barnes & Noble suggests for list prices for their stores isn’t necessarily right for a self-published books that will primarily be sold through online bookstores.
The online book sales market is, in fact, such a new market that it is unclear what pricing strategies are most advantageous to book sales.
In the absence of hard data, how should you […]