On the one hand, it’s a virtual book. There are no production costs aside from the cover design. It did take awhile, and much of my agent’s patience, to punch it into shape for acceptance by the ePub gods, but it was an inexpensive process in terms of cash outlay, if not in terms of grey hair and wrinkles.
On the other hand, it took three years of work to write and edit it.
A quick scan of the Amazon eBook best sellers tells me that eBooks are cheap. Does this mean readers won’t pay more than a few dollars for a virtual book? What’s the “magic price point”? This question raised its head months ago when I decided to self-publish. I’ve probably agonised over the answer for longer than some people take to name their babies.
I’ve chosen $1.99. Lots of books are for sale at that price point, including the big hitters of our genre like Sophie Kinsella. I figured that since I’m relatively unknown in the US, asking a woman to take a chance at $9.99 or even $5.99 is risky.
I wonder, though, if I’ve made the right decision?
I think you have definitely made the right decision and I applaud you for it. I myself blogged recently my thoughts about the 99 cent price point and how I believe that in the long run, it has the potential to damage your brand. I also argued that authors collectively should discourage the 99 cent price point in order to raise the bar across the board.
ReplyDeleteThe beauty of your situation is that you can experiment with your price point, sliding it up or down over time to see where you get the most favorable response.
I'll be keen to see how you go Michele...