How much profit are you looking for, and how much money you want to make by publishing a book. Most writers are pleased if they make some money with their self-published book, and some want to make more.
The time comes, when you want to keep your book sales going, you need to consider that the amount of money you make — your profits — will go down if the book price is not lowered. (This is why you find bargain books or used books priced the way they are.) When it comes to money, some publishers understand the benefits of selling your book at a lower price.
Price is not everything however, as there is a cost to publishing a book, not just in terms of money but rather in time and commitment to the craft of writing and editing. There is a need to appreciate the emotional feeling you have put towards something you have worked for many years on.
You also should have a recognizable return on the investment into your book. That is why the question of “how much money should you sell your book for?” comes up so often. The answer is, “it depends.” My own book, In Search of The Lost Ones works well at a low price point because it was published in 2011. It means the smallest network I have for this book is almost filled. I’ll need to promote more to get results.
In the beginning, ask yourself how much time you are willing to spend on creating a marketing plan which will work, and also to create the income you desire. The first step you need to do is ask yourself how much money you can make with the time you have- there is always a time frame for books- and their ‘life”. Often, you also have to find out how people in your more immediate networks view your book. (Do they want free copies or do they want a discount?) If the answer is a lot of money, the best choice is to re-think how much you are going to pay for your book.
If your book is selling well at a good price, there is no need to change your sticker price, or list price, however, if your book is not selling (perhaps at a price point of, say, $15), then it might be something to look at more closely in order to generate the sales. Sometimes giving away free copies of your e-book can help. Another way is to write more. However, knowing your market is the best way to know if you are selling your book at the right price. The market changes as new authors come and others publish more books.
How much money you need to sell your book for should be based on one factor: How many sales you have currently on your book. If you know that a dollar means five books a month but 2 means one book a month, then pricing it at a dollar is the most logical.