If you are nearing your publish date goal, then you’re about ready to set a price for your Kindle Book. The big question is what is the right price? After all, you want Bob Barker to scream it out on the showcase showdown!
Now there are some basic guidelines about the basic royalty structure available to Kindle authors and more or less what goes in each here .
What Price Will Bring Home The Bacon?
Let’s say you want to price your book $3.99 does that make any sense? Will your result be any different than if you price the same book at $4.99 how about $2.99?
And if you decide to price your book at $8 does that differ from let’s say $9?
These small nuances in pricing can make a big difference in your income for better or for worse.
You see people’s brains are wired to recognize milestone prices.
So if you tell me something is 99 cents to me that’s less than a dollar, chump change. It’s no risk to me at all.
And if you tell me your book is $3.99 I think to myself : OK that;’s less than 5 bucks. I’ll just skip a coffee and accept the price.
The same applies for any other number below $5, so why not get as close as possible if that is your basic price range…
After all we all like money.
Aren’t We A Bunch Of Funny Monkeys…
Now here’s what’s funny about our species….
We judge value by price. So your price range affects your book’s perceived value.
If you go too cheap with your prices, people many times will think your book (or any product) is from the bottom of the barrel.
Little Secret About Premium Prices…
However when you charge a premium, people tend to want what you have even more because they understand instinctively that your book is special.
Now, in publishing as well as the Kindle royalty tier structure… there are certain market limits.
You can’t really get away with charging 45 dollars for a book. And not because of the modest 35% royalty, it’s because no one would buy.
One of the most difficult and egoless things you need to do to self publish is value your book compared to the market; Where publishing house releases are priced “higher” between $9.99 and $19.99 per book.
What’s Your Best Kindle Book Price?
To launch your book I would recommend that unless it is a short document, part of a series or not a full novel (which would be priced cheaper) you consider the mid price range of $4.99. You may get far more sales volume than if you go with $7.99 for example…
Now there are a lot more things to consider when pricing, specifically about international pricing. So I will cover that topic in the near future. Stay tuned…
This information is based on my experience helping hundreds of authors publish and promote their books on Kindle.
Results may vary.
Your book is unique and must be valued and priced individually.
For assistance with pricing your book simply schedule a FREE 30 minute skype consult and we’ll see how to help you price your book. Click Here to Schedule a Free Consult
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