How should you price your ebook?
Friday, March 18th, 2016This is an interesting question for readers. Their only vote in the matter is with their purchases. So, let’s analyze that first. Readers rule. They tend to reward the known more than the unknown, though. When readers (and I’m one, so this applies to me) get comfortable with an author, they’ll pay a higher price, but only up to a certain point. When we’re trying out a new author, we want to be rewarded for trying someone new.
That’s human nature and probably explains why authors and publishers make special offers. In the case of some indies, in fact, giveaways. If an author has a series s/he wants to get readers hooked on, s/he sells it at a very low price or gives it away. The idea is that when I read the first book in a series and like it, I’m supposed to extrapolate and assume all the other books in the series are good too? That’s a big assumption especially if preceded by the assumption that any book in the series should be readable independently from the others (a correct assumption). Moreover, we might see the Hollywood sequel phenomenon: sequels, whether books or movies, can become “more of the same”–formulaic is the word used for books.
Readers have come to expect freebies and greatly reduced prices, especially from indie writers. It’s probably non-productive whining to say that we’re killing the goose that laid the golden egg. I’m not helping you at all when I download your free book or sale-priced book. It doesn’t improve your name recognition in my case—I read so many books that I often download one and start it only to realize I’ve already read it (don’t ask me why this gets by Amazon). At best, during the download I’m thinking the author is stupid in giving away her or his hard work.
It’s also non-productive whining to say that readers are spoiled by the giveaways and reduced prices. They’ve come to expect them and don’t seem to put any value on an author’s hard work. But let’s be realistic: Let’s assume that the typical ebook can sell N copies (N is pretty low if you believe Amazon). Maybe Amazon doesn’t count freebies in totaling up N, but I do—we’re actually talking about numbers of readers. If the author gets N free downloads, that might be all s/he is getting, especially if s/he normally sells the ebook for $4.99 and returns to that price.
I’ll propose a different tactic. It hasn’t worked for me, but it’s different (FYI: the above tactic hasn’t worked either). I value my work. I’d rather put ALL my ebooks at a fair price (it’s often the “sales price” of other authors) and let the chips fall where they may. I’m pretty sure that the person who downloads it has put some thought into her or his purchase. My idea is that smart buyers are also smart readers. They want to stimulate their intelligence, not numb it. Yes, they want to be entertained, but not in a trivial way by reading fluff. I don’t write fluff. Never have, ever since my first novel written during the summer I turned thirteen (OK, it was a bit raunchy, but it wasn’t fluff).