Any business undergrad will be able to tell you that discounting a product is a great way to drive sales and increase awareness of a product. Your book is no different. Knowing how and when to discount your book online is a critical aspect of successfully attracting downloads and purchases of your work. So when and how should you discount your work?
If you have a series of books that are available online then you have a great opportunity for discounting your books and seriously accruing downloads. Discount the first book in your series or even make it free and you’ll start to see a massive increase in purchases of the next books in the series. 77 percent of bargain readers also buy full-priced books, there’s a 5 times increase in the number of followup books sold when the original is discounted, and there’s an 8 times increase if the initial book is free. Those are some serious numbers. But what if your book is a standalone novel? Turns out 63 percent of bargain readers will purchase other full-price books by an author whose book they downloaded on a discount. Make sure you add links to your other material at the end of your book so readers can easily move onto the next book!
Those book discounts can be applied any time that you feel like reinvigorating your sales, but there are other opportune moments throughout the year that you can capitalize on. If you have a holiday-themed book then it’s a no-brainer to discount your book around the time of that holiday on the calendar year. Christmas books see a 45 percent higher purchase rate in the month of December, along with a 62 percent increase in click-through rate. Not bad! Even if your book is only a romance then it still makes sense to discount it around Valentine’s Day. This is the same for any other event that could tie in with your book. There are all sorts of lesser-known calendar events that you can connect to your work. Check a calendar and start outlining times when you can discount your appropriate book!
Discounting your book is a great business tactic. Learn how and when to discount your book to find some serious success!
Read the full article here: When is the Right Time to Discount Your Book?
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