YA writers and bloggers unite each week to share their thoughts on what it's like going indie in today's publishing world.
I have just released my latest novel - Unknown - so YA Indie Carnival's discussion today is quite timely. I had to ask myself this very question as I uploaded my book the other day.
How much should this book cost? How much is it worth?
It saddens me to realize that a book's cost and worth are two very different things. When I think about all the hours I've poured into my novels and the money I've spent on editors to make sure they a quality reads, I cringe to think that I may only sell them for 99c.
But the thing is, there is no point putting in all this time and effort and publishing it online then not selling one single copy. So pricing is a very important consideration.
When it comes to pricing, I try to think like a reader. I don't mind spending up to $5 for en e-book. I'll even spend up to $8 if it's an author I really love. Now I don't know any indie authors that would price their stuff that high. Most of the authors I know price their books at either 99c or between $2.99 - $4.99, which I am always happy to pay. It's WAY cheaper than the $25+ I used to spend on paperback novels.
Personally, I would love to charge $3.99+ for all my books. They are all over 60,000 words long, they are a decent read and I feel like they are worth that much, but from a marketing stand point, I choose not to do that. I am trying to find a happy compromise.
So - my very first book (the first of a series) is permanently free - Golden Blood. The next two books in the series are $3.99 each. Some people don't like this, but I figure I'm giving them one book for free, so they're picking up an entire trilogy for just under $8, which really isn't bad. My two stand alone novels are $3.99 each and my latest release (the first of a series) is $2.99.
By making $2.99 my lowest price, I am able to benefit from 70% royalties on Amazon and it also gives me room to move with specials. I try to run some sort of special every couple of months on my books. I don't mind dropping the price to 99c for a short period of time. It's a great boost for my rankings. I tend to only do this with first books in a series though.
Now I don't know if I have it right. I still have much to learn about marketing, but this strategy seems to be working for now.
How about you?
What do you think books are worth?
If you'd like to find out what the other carnival goers think, you can follow the links below.
And don't forget to check out our latest news on our YA Author Club site.