HOW TO PRICE YOUR SELF-PUBLISHED EBOOK
The journey of writing your own book and self-publishing it is truly a learning experience but sometimes you might wish that you could have had that learning before you published that book.
Sometimes you might wish that after you have written your book and submitted your manuscript and also self-published it, you could have had some help with the price of your book or ebook.
But is this actually a big issue? Let us find out.
WHY IS PRICING CORRECTLY IMPORTANT?
Just like how new readers can find the difficult to create a list of books that they are going to read, it can be difficult for a new author to make sure they have a good strategy of smart book pricing.
You can have excellent marketing goals and a good marketing strategy but if you price your book incorrectly then that will mean a loss in revenue, this becomes even more so important since you are self-publishing.
In the world of traditional publishing, pricing the book is not a big deal because the publisher will do it and you will not have any say in that matter but in the world of self-publishing you are the publisher.
It is a creative as well as a capital investment that you are doing and that is why if you do not price your book correctly you can incur a loss and that can even stop you from making money.
If you cannot make money on your book then that will mean you cannot pursue this as a full-time career as an author. This is why it is so important to understand that pricing your book matters.
All self-published best-selling authors are also excellent at pricing their books and that is how they stay relevant in the industry.
So, if you want to know how to price your self-published ebook or book correctly, here are a few important tips that will help you.
TIPS TO PRICE YOUR SELF-PUBLISHED EBOOK
One of the most important things you must do whenever you have the lightest urge of becoming successful commercially as an author is market research.
Market research is not only paramount but it is essential because you might be a good author but if you have no idea about the going great of ebooks of your kind then you are going to have a hard time.
By market research, we mean that you simply need to create a list of people who are your competitors and you know better about them according to your writing style etc.
You simply need to find out the pricing of their ebooks. This can be quite easy because ebooks are different from regular books and regular books can have different variables such as paper quality etc.
But when it comes to ebooks it can become quite easy to find out the going rate fairly accurately because you can get a very true price of the worth of the book.
Of course, you are going to be the final person who gets to choose what kind of price you want for your book but if you do market research then you are going to have a very easy time estimating the price.
Anything you create is going to be priceless for you and even if you want to put a value on it, it is going to be high.
However, you must be practical when you think about it and you must think from the perspective of the reader, it is not their creation and it is not the primary thing in their life.
In spite of that, they are choosing to read your book and that is where you can get a lot of humility and along with that and understanding that you have to lower your expectations.
You can of course price your book outlandishly but the problem with that is no one is going to buy your book.
Since you are self-publishing your ebook you need to not only turn out a profit but also you need to earn from this simply because that is going to help your career as an author.
Therefore, if you can lower your expectations to the right amount then you will not only have the right price but you are also going to create a name for yourself.
There are different selling methods that you can use that are going to help not only keep the sales from ever going down but will also ensure that you learn a lot from the experience.
You might have this idea that this is your first book and since it is an ebook and nearly inexpensive to make, you can give it out for free or at the lowest price possible.
However, you must understand the reader’s psychology behind this, giving something out for free or setting a price that is very low is actually going to have a negative effect.
If something is not priced properly or is of a lower price then that can also mean that your ebook does not have any value. This can mean that the reader might simply skip it because it is free.
Therefore, you must price it at a higher number and then you can apply some special discount coupons and distribute them and you can also plan the launch of your book at some significant time when every company gives out discounts.
You can also team up with other people and they will not only promote your book but will also promote the discount. That is going to be effective.
We hope we have been able to help you with understanding how the pricing of ebooks works and we hope that you sell a lot of copies.
However, if you are someone who is new to this and you are simply not experienced enough to self-publish, let alone set the price, then we are here to help you.
We are Orange Publishers and we are India’s fastest-growing and most popular self-publishing book house where we do everything from the publishing to the copyright as well as the promotion and that includes excellent price suggestions.
with our experience of publishing hundreds of books, we can assure you that our price suggestions are never wrong because we understand the market very well.