Choosing the right price for your eBook is important. Below are some quick tips to help you decide what price to pick:
- Digital < Print: Make sure your eBook price isn’t higher than the price of your print edition. Certain retailers have pricing rules that will remove your book from sale if this criteria isn’t met.
- Think long term: $0.99 is a great promotional price. But that is what is should be—promotional. If this is your regular price, then the only discount you can give your readers is free, which means less flexibility—and less earnings on promotions.
- Make it special: Save your “best” (i.e. lowest) discount for Daily Deals at major retailers. Amazon, for example, tracks the price of your books for the past two years. If you have placed your title at or below that “best” price, then Amazon won’t consider you for one of their Daily Deals.
- It’s all in the percentage: When setting your regular price, consider what an 80% discount looks like. Is your regular price high enough that 80% off falls between $1.99 and $3.99? (Especially if you are “saving” that $0.99 discount price for a Daily Deal!)
- Perma-free: This is a great tool—if you are using it to lead readers to the next books in your series. That being said, perma-free titles are ineligible for promotional placement on retailer sites (like “Great Books Below $3.99” or “Free Friday”) since this is your regular price rather than a promo price.
- Price parity: Give the same price to all retailers. Supplying different pricing will only result in price matching across the board and possible loss of major retailer good will.
- Pre-order pricing: Don’t change your price during pre-order! When your title goes on-sale, retailers will charge all customers who pre-ordered your title the lowest price. This means a short-term pre-order campaign ends up being applied across the board once your book goes on sale. Plus then you can make all of your pre-order customers feel the same level of special.