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.