A highly important aspect of your book marketing plan is to determine how to price your book. Before you can do that, you should consider your publishing goal. Is it to make as much money as possible? Do you just want to reach as many readers as you can? You will have to take this big question seriously and think strategically about setting your price, but pricing is less overwhelming when you consider a few basics.
BookExpo was this past weekend which means the second day of Indie Author Fringe also took place. Indie Author Fringe is a 3-day, 24 hours per day indie author conference packed with advice on self-publishing. Every session is available online and 100% free; perfect for aspiring authors and experienced, small to mid-level publishers alike; basically anyone looking for professional advice on how to publish a book. And we're offering a special promotion code to go with it.
Being a modern author comes with the expectation (and sometimes pressure) to do price promotions, which involves lowering the price of your e-book and creating some kind of visibility campaign in association with that “sale.” It’s not so much a matter of whether you’ll do one, but rather why, how soon, how much, how long, how often, and how to do one well. So let’s review those points, shall we?
All of November you were on the clock to complete your book for NaNoWriMo. If you succeeded (WOW!) you're basically a superstar. Congrats! And after you spent an entire month lovingly crafting the perfect manuscript we know you’re eager to get it published.
When you embark on the journey of getting a book published there’s a lot to consider and one of the things that should be on your priority list is how much you’re going to charge for your book. The editors of traditional publishing houses must fill out a profit and loss spreadsheet (P&L) before they can even acquire a book, let alone print a book. The P&L determines what decisions they need to make in order to turn a profit on the book they hope to add to their list. One of the best places to start when determining the profit goals of your book publishing endeavors is to seriously consider the price of your book.
by Phil Ollila, Chief Content Officer of Ingram Content Group
What are effective e-book pricing strategies in today’s book business? Based on trends we observe at Ingram Content Group from both publishers and readers, we think about three general segments for e-books: entertainment value, education value and marketing value.
After you've spent the time and money to edit, design, and market your book, the thought of selling it at a discounted price may seem counterintuitive or even downright offensive. However, offering your book at a discounted rate is an excellent way to get it into the hands of new readers and generate buzz. Thanks to new industry tech it is a lot easier to self-publish a book. Browse through any online book retailer's website and you will see thousands of novels that were written and published by the same person. Discounting your book will not only make it stand out on the over-crowded digital shelves, it can also give you a head start on getting your book in physical stores. Here's how.