Money Matters With Books: Would You Drop You Price On A Published Book?
May 28, 2012
My book has been available on Amazon.com and other Amazon websites for a while now, and sales are reasonably good. They sell about three books a week, and the price is about $15.00 US. Here is the money matters problem and my own solution:
My book has been around since the end of November and the price has not decreased since it was published. After 6 months of having the list price the way it is, I’ve come to a decision about dropping the price. What I hope for is increased sales with a lower price.
So, come June, the list price is $12.50.
I think this will encourage a few more people to try out the book (as in purchase In Search of the Lost Ones), because for some reason I believe that price creates a mind barrier. I started wondering about this when I noticed that more people are likely to go to a bookstore and buy a ten dollar book than one that costs $15.
As I’ve said before, publishing a book is one thing, and making sure that sales continue steadily is another. Think about promotion. For many people who buy books online, buying an additional book means that they don’t need to pay for shipping.
This also means that I have a chance to reach a larger audience. I noticed this with the Kindle edition sale, while I didn’t sell any e-books during the sale, I found that after the sale people bought the e-book. With that in mind, I was more than ready to listen to the suggestion of dropping the list price even for a month.
I shall see what happens in June.
I suspect that at some point you should ask yourself if your book needs more “eyeballs” on it and how you can do that. I will say this: I am not giving up on my book, but rather I am trying every means possible to get readers for my book. This is my challenge to myself.
At the moment this is a good idea, and we shall see how that helps with sales.