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Wednesday, 28 September 2011

Points to Consider when Pricing your Book

This is a subject that all writers will ponder over at some point in their writing career and it may seem like the decision doesn't get any easier when it comes to pricing your book. It is one of the most crucial decisions writers face when they're ready to sell their book, and it's common for them to change their minds half a dozen times before they reach their final conclusion.

Writers will consider what price their book should be in order to receive reviews and cover the initial cost it took for the book to be published. Whether this be editing costs or print cost, the writer will want to set a price in order for them to sell as many copies as possible.

Some first time writers fall into the trap of pricing their books too high. People probably won't want to pay $5 for a short story only 5,000 words long. Equally, readers may be suspicious of a specialised non fiction book over 150,000 words long that is only 99c.

So if you're a first time writer who is currently struggling with this question, here are some points you may want to consider.

  • Who are you targeting? Comic readers probably won't want to buy your book if it's specialist non fiction, neither will young adults. However if your book is a comedy short fiction they might be your ideal target audience.
  • How much have you paid to produce this book? If you're publishing an ebook, the cost is minimal because it's free to upload your books on to Amazon and sites like Smashwords. It is most likely your only fee is to your copy editor and cover designer.
  • What length is it? Like I stated above it is not wise to price a short story book at a high cost. People usually price according to traditional length.
  • Where will your book be available from? If you're publishing an ebook you'll probably want to upload your work to B&N, Smashwords, Kobo, and Amazon. But even though you'll have exposure on an international level, the company in question will take a cut.
  • Have you paid any marketing fees? Have you paid for a website, paid for adverts in newspapers or online?
I think it is worth remebering that when you start out as a self published author it seems your tasks are almost impossible. But when you have several books out there to sell, the process is a little easier because you gradually become more established. It's so much harder trying to convince people to buy your book whatever your price if you're completely unknown. But once you have more books to sell then it generally becomes easier.

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