An important decisions to make when releasing a new book is determining what the price should be. Deciding on what price is a delicate balancing act. If you price it too high it won’t sell enough to reach a wide audience, making it harder to establish yourself as a well known author. If you price it too low then you lose out on potential revenue. We’ll discuss how the online market works and what will help get authors published today!
Online Market
Amazon Kindle is the most well known online publisher in the United States. Kindle ebooks typically sell between $2.99 to $9.99. Amazon offers better royalties at this price range so most books on the market sell within this range. Books in this range have a better chance of selling and often make the same amount of profit as higher priced books. Visit the ebook distributor SmashWords website to get more detailed information.
Length and Quality
Pricing depends on the cost of making the book. With longer books the cost of editing and formatting will be higher, and so should the final price of the book. It is important to match the length and perceived quality to the price of your book so customers are more willing to buy.
Genre
With online publishing genres the price can vary. Genres like romance are expected to sell at a lower price. But if you’re selling a personal memoir you can price your book higher because of the value you offer. Do research in the genre you want to market your book in to understand a good market price.
Branding
It is important to establish yourself as an author. Credible authors have a higher chance of selling their books to a wider audience. Becoming a bestselling author is one way to establish yourself as an author with authority.
At Elite Online Publishing we offer a few different strategies to bring authority to your brand. Contact us today to learn how we can help you become a bestselling author!
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